Latest news with #B.RileyWealth
The Advertiser
15 hours ago
- Business
- The Advertiser
Wall St edges up,Trump's Mideast decision in focus
Wall Street's main indexes have nudged higher, tracking strength in global stocks after President Donald Trump held off from making an immediate decision on US involvement in the Israel-Iran war. Trump will take a call in the next two weeks, the White House said on Thursday, as hostilities between the two Middle Eastern countries approached their second week. Markets have been on edge as Trump has kept the world guessing on his plans - veering from proposing a swift diplomatic solution to suggesting the US might join the fight as Israel aims to suppress Tehran's ability to build nuclear weapons. A senior Iranian official told Reuters Tehran was ready to discuss limitations on its uranium enrichment, but zero enrichment will be rejected "especially now under Israel's strikes". Foreign Minister Abbas Araqchi has arrived in Geneva to meet European counterparts, who are hoping to establish a path back to diplomacy. "Any news flow that's going to lean in the direction of de-escalation is going to be a market positive and we're seeing that to a certain extent here," said Art Hogan, chief market strategist at B. Riley Wealth. Concerns about price pressures in the US were also in focus after Federal Reserve policymakers on Wednesday warned inflation could pick up pace over the summer as the economic effects of Trump's steep import tariffs kick in. They kept interest rates unchanged. On Friday, Fed governor Chris Waller said the central bank should consider cutting interest rates at its next meeting given recent tame inflation data and because any price shock from tariffs will be short-lived. In early trading on Friday, the Dow Jones Industrial Average rose 123.38 points, or 0.29 per cent, to 42,295.04, the S&P 500 gained 13.34 points, or 0.22 per cent, to 5,994.21 and the Nasdaq Composite gained 38.74 points, or 0.20 per cent, to 19,585.01. Nine of the 11 major S&P 500 sub-sectors rose. Real estate led sector gains with a 0.7 per cent rise. On the flip side, healthcare stocks lost 0.5 per cent. All three main indexes are set for weekly gains. Investors are also bracing for any potential spike in volatility from Friday's "triple witching" - the simultaneous expiration of single stock options, stock index futures, and stock index options contracts that happens once a quarter. Among megacap stocks, Apple advanced 1.3 per cent. Kroger rose 6.4 per cent after the grocery chain increased its annual identical sales forecast. Mondelez International gained 2.4 per cent after brokerage Wells Fargo upgraded the Cadbury parent to "overweight" from "equal-weight". Accenture fell 7.2 per cent after the IT services provider said new bookings decreased in the third quarter. Wall Street's strong gains last month, primarily driven by a softening in Trump's trade stance and strength in corporate earnings, had pushed the benchmark S&P 500 index close to its record peaks before the ongoing conflict in the Middle East made investors risk-averse. The S&P 500 index now remains 2.4 per cent below its record level, and the tech-heavy Nasdaq is 2.8 per cent lower. Advancing issues outnumbered decliners by a 2.16-to-1 ratio on the NYSE and by a 1.45-to-1 ratio on the Nasdaq. The S&P 500 posted 12 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 55 new highs and 31 new lows. Wall Street's main indexes have nudged higher, tracking strength in global stocks after President Donald Trump held off from making an immediate decision on US involvement in the Israel-Iran war. Trump will take a call in the next two weeks, the White House said on Thursday, as hostilities between the two Middle Eastern countries approached their second week. Markets have been on edge as Trump has kept the world guessing on his plans - veering from proposing a swift diplomatic solution to suggesting the US might join the fight as Israel aims to suppress Tehran's ability to build nuclear weapons. A senior Iranian official told Reuters Tehran was ready to discuss limitations on its uranium enrichment, but zero enrichment will be rejected "especially now under Israel's strikes". Foreign Minister Abbas Araqchi has arrived in Geneva to meet European counterparts, who are hoping to establish a path back to diplomacy. "Any news flow that's going to lean in the direction of de-escalation is going to be a market positive and we're seeing that to a certain extent here," said Art Hogan, chief market strategist at B. Riley Wealth. Concerns about price pressures in the US were also in focus after Federal Reserve policymakers on Wednesday warned inflation could pick up pace over the summer as the economic effects of Trump's steep import tariffs kick in. They kept interest rates unchanged. On Friday, Fed governor Chris Waller said the central bank should consider cutting interest rates at its next meeting given recent tame inflation data and because any price shock from tariffs will be short-lived. In early trading on Friday, the Dow Jones Industrial Average rose 123.38 points, or 0.29 per cent, to 42,295.04, the S&P 500 gained 13.34 points, or 0.22 per cent, to 5,994.21 and the Nasdaq Composite gained 38.74 points, or 0.20 per cent, to 19,585.01. Nine of the 11 major S&P 500 sub-sectors rose. Real estate led sector gains with a 0.7 per cent rise. On the flip side, healthcare stocks lost 0.5 per cent. All three main indexes are set for weekly gains. Investors are also bracing for any potential spike in volatility from Friday's "triple witching" - the simultaneous expiration of single stock options, stock index futures, and stock index options contracts that happens once a quarter. Among megacap stocks, Apple advanced 1.3 per cent. Kroger rose 6.4 per cent after the grocery chain increased its annual identical sales forecast. Mondelez International gained 2.4 per cent after brokerage Wells Fargo upgraded the Cadbury parent to "overweight" from "equal-weight". Accenture fell 7.2 per cent after the IT services provider said new bookings decreased in the third quarter. Wall Street's strong gains last month, primarily driven by a softening in Trump's trade stance and strength in corporate earnings, had pushed the benchmark S&P 500 index close to its record peaks before the ongoing conflict in the Middle East made investors risk-averse. The S&P 500 index now remains 2.4 per cent below its record level, and the tech-heavy Nasdaq is 2.8 per cent lower. Advancing issues outnumbered decliners by a 2.16-to-1 ratio on the NYSE and by a 1.45-to-1 ratio on the Nasdaq. The S&P 500 posted 12 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 55 new highs and 31 new lows. Wall Street's main indexes have nudged higher, tracking strength in global stocks after President Donald Trump held off from making an immediate decision on US involvement in the Israel-Iran war. Trump will take a call in the next two weeks, the White House said on Thursday, as hostilities between the two Middle Eastern countries approached their second week. Markets have been on edge as Trump has kept the world guessing on his plans - veering from proposing a swift diplomatic solution to suggesting the US might join the fight as Israel aims to suppress Tehran's ability to build nuclear weapons. A senior Iranian official told Reuters Tehran was ready to discuss limitations on its uranium enrichment, but zero enrichment will be rejected "especially now under Israel's strikes". Foreign Minister Abbas Araqchi has arrived in Geneva to meet European counterparts, who are hoping to establish a path back to diplomacy. "Any news flow that's going to lean in the direction of de-escalation is going to be a market positive and we're seeing that to a certain extent here," said Art Hogan, chief market strategist at B. Riley Wealth. Concerns about price pressures in the US were also in focus after Federal Reserve policymakers on Wednesday warned inflation could pick up pace over the summer as the economic effects of Trump's steep import tariffs kick in. They kept interest rates unchanged. On Friday, Fed governor Chris Waller said the central bank should consider cutting interest rates at its next meeting given recent tame inflation data and because any price shock from tariffs will be short-lived. In early trading on Friday, the Dow Jones Industrial Average rose 123.38 points, or 0.29 per cent, to 42,295.04, the S&P 500 gained 13.34 points, or 0.22 per cent, to 5,994.21 and the Nasdaq Composite gained 38.74 points, or 0.20 per cent, to 19,585.01. Nine of the 11 major S&P 500 sub-sectors rose. Real estate led sector gains with a 0.7 per cent rise. On the flip side, healthcare stocks lost 0.5 per cent. All three main indexes are set for weekly gains. Investors are also bracing for any potential spike in volatility from Friday's "triple witching" - the simultaneous expiration of single stock options, stock index futures, and stock index options contracts that happens once a quarter. Among megacap stocks, Apple advanced 1.3 per cent. Kroger rose 6.4 per cent after the grocery chain increased its annual identical sales forecast. Mondelez International gained 2.4 per cent after brokerage Wells Fargo upgraded the Cadbury parent to "overweight" from "equal-weight". Accenture fell 7.2 per cent after the IT services provider said new bookings decreased in the third quarter. Wall Street's strong gains last month, primarily driven by a softening in Trump's trade stance and strength in corporate earnings, had pushed the benchmark S&P 500 index close to its record peaks before the ongoing conflict in the Middle East made investors risk-averse. The S&P 500 index now remains 2.4 per cent below its record level, and the tech-heavy Nasdaq is 2.8 per cent lower. Advancing issues outnumbered decliners by a 2.16-to-1 ratio on the NYSE and by a 1.45-to-1 ratio on the Nasdaq. The S&P 500 posted 12 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 55 new highs and 31 new lows. Wall Street's main indexes have nudged higher, tracking strength in global stocks after President Donald Trump held off from making an immediate decision on US involvement in the Israel-Iran war. Trump will take a call in the next two weeks, the White House said on Thursday, as hostilities between the two Middle Eastern countries approached their second week. Markets have been on edge as Trump has kept the world guessing on his plans - veering from proposing a swift diplomatic solution to suggesting the US might join the fight as Israel aims to suppress Tehran's ability to build nuclear weapons. A senior Iranian official told Reuters Tehran was ready to discuss limitations on its uranium enrichment, but zero enrichment will be rejected "especially now under Israel's strikes". Foreign Minister Abbas Araqchi has arrived in Geneva to meet European counterparts, who are hoping to establish a path back to diplomacy. "Any news flow that's going to lean in the direction of de-escalation is going to be a market positive and we're seeing that to a certain extent here," said Art Hogan, chief market strategist at B. Riley Wealth. Concerns about price pressures in the US were also in focus after Federal Reserve policymakers on Wednesday warned inflation could pick up pace over the summer as the economic effects of Trump's steep import tariffs kick in. They kept interest rates unchanged. On Friday, Fed governor Chris Waller said the central bank should consider cutting interest rates at its next meeting given recent tame inflation data and because any price shock from tariffs will be short-lived. In early trading on Friday, the Dow Jones Industrial Average rose 123.38 points, or 0.29 per cent, to 42,295.04, the S&P 500 gained 13.34 points, or 0.22 per cent, to 5,994.21 and the Nasdaq Composite gained 38.74 points, or 0.20 per cent, to 19,585.01. Nine of the 11 major S&P 500 sub-sectors rose. Real estate led sector gains with a 0.7 per cent rise. On the flip side, healthcare stocks lost 0.5 per cent. All three main indexes are set for weekly gains. Investors are also bracing for any potential spike in volatility from Friday's "triple witching" - the simultaneous expiration of single stock options, stock index futures, and stock index options contracts that happens once a quarter. Among megacap stocks, Apple advanced 1.3 per cent. Kroger rose 6.4 per cent after the grocery chain increased its annual identical sales forecast. Mondelez International gained 2.4 per cent after brokerage Wells Fargo upgraded the Cadbury parent to "overweight" from "equal-weight". Accenture fell 7.2 per cent after the IT services provider said new bookings decreased in the third quarter. Wall Street's strong gains last month, primarily driven by a softening in Trump's trade stance and strength in corporate earnings, had pushed the benchmark S&P 500 index close to its record peaks before the ongoing conflict in the Middle East made investors risk-averse. The S&P 500 index now remains 2.4 per cent below its record level, and the tech-heavy Nasdaq is 2.8 per cent lower. Advancing issues outnumbered decliners by a 2.16-to-1 ratio on the NYSE and by a 1.45-to-1 ratio on the Nasdaq. The S&P 500 posted 12 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 55 new highs and 31 new lows.
Perth Now
17 hours ago
- Business
- Perth Now
Wall St edges up,Trump's Mideast decision in focus
Wall Street's main indexes have nudged higher, tracking strength in global stocks after President Donald Trump held off from making an immediate decision on US involvement in the Israel-Iran war. Trump will take a call in the next two weeks, the White House said on Thursday, as hostilities between the two Middle Eastern countries approached their second week. Markets have been on edge as Trump has kept the world guessing on his plans - veering from proposing a swift diplomatic solution to suggesting the US might join the fight as Israel aims to suppress Tehran's ability to build nuclear weapons. A senior Iranian official told Reuters Tehran was ready to discuss limitations on its uranium enrichment, but zero enrichment will be rejected "especially now under Israel's strikes". Foreign Minister Abbas Araqchi has arrived in Geneva to meet European counterparts, who are hoping to establish a path back to diplomacy. "Any news flow that's going to lean in the direction of de-escalation is going to be a market positive and we're seeing that to a certain extent here," said Art Hogan, chief market strategist at B. Riley Wealth. Concerns about price pressures in the US were also in focus after Federal Reserve policymakers on Wednesday warned inflation could pick up pace over the summer as the economic effects of Trump's steep import tariffs kick in. They kept interest rates unchanged. On Friday, Fed governor Chris Waller said the central bank should consider cutting interest rates at its next meeting given recent tame inflation data and because any price shock from tariffs will be short-lived. In early trading on Friday, the Dow Jones Industrial Average rose 123.38 points, or 0.29 per cent, to 42,295.04, the S&P 500 gained 13.34 points, or 0.22 per cent, to 5,994.21 and the Nasdaq Composite gained 38.74 points, or 0.20 per cent, to 19,585.01. Nine of the 11 major S&P 500 sub-sectors rose. Real estate led sector gains with a 0.7 per cent rise. On the flip side, healthcare stocks lost 0.5 per cent. All three main indexes are set for weekly gains. Investors are also bracing for any potential spike in volatility from Friday's "triple witching" - the simultaneous expiration of single stock options, stock index futures, and stock index options contracts that happens once a quarter. Among megacap stocks, Apple advanced 1.3 per cent. Kroger rose 6.4 per cent after the grocery chain increased its annual identical sales forecast. Mondelez International gained 2.4 per cent after brokerage Wells Fargo upgraded the Cadbury parent to "overweight" from "equal-weight". Accenture fell 7.2 per cent after the IT services provider said new bookings decreased in the third quarter. Wall Street's strong gains last month, primarily driven by a softening in Trump's trade stance and strength in corporate earnings, had pushed the benchmark S&P 500 index close to its record peaks before the ongoing conflict in the Middle East made investors risk-averse. The S&P 500 index now remains 2.4 per cent below its record level, and the tech-heavy Nasdaq is 2.8 per cent lower. Advancing issues outnumbered decliners by a 2.16-to-1 ratio on the NYSE and by a 1.45-to-1 ratio on the Nasdaq. The S&P 500 posted 12 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 55 new highs and 31 new lows.
Business Recorder
17 hours ago
- Business
- Business Recorder
Wall Street edges up with Trump's Middle East decision in focus
Wall Street's main indexes nudged higher on Friday, tracking strength in global stocks after President Donald Trump held off from making an immediate decision on U.S. involvement in the Israel-Iran war. Trump will take a call in the next two weeks, the White House said on Thursday, as hostilities between the two Middle Eastern countries approached their second week. Markets have been on edge as Trump has kept the world guessing on his plans - veering from proposing a swift diplomatic solution to suggesting the U.S. might join the fight as Israel aims to suppress Tehran's ability to build nuclear weapons. A senior Iranian official told Reuters Tehran was ready to discuss limitations on its uranium enrichment, but zero enrichment will be rejected 'especially now under Israel's strikes'. Foreign Minister Abbas Araqchi has arrived in Geneva to meet European counterparts, who are hoping to establish a path back to diplomacy. 'Any news flow that's going to lean in the direction of de-escalation is going to be a market positive and we're seeing that to a certain extent here,' said Art Hogan, chief market strategist at B. Riley Wealth. Concerns about price pressures in the U.S. were also in focus after Federal Reserve policymakers on Wednesday warned inflation could pick up pace over the summer as the economic effects of Trump's steep import tariffs kick in. They kept interest rates unchanged. Wall St indexes rise ahead of Fed's rate verdict On Friday, Fed governor Chris Waller said the central bank should consider cutting interest rates at its next meeting given recent tame inflation data and because any price shock from tariffs will be short-lived. At 10:06 a.m. ET, the Dow Jones Industrial Average rose 123.38 points, or 0.29%, to 42,295.04, the S&P 500 gained 13.34 points, or 0.22%, to 5,994.21 and the Nasdaq Composite gained 38.74 points, or 0.20%, to 19,585.01. Nine of the 11 major S&P 500 sub-sectors rose. Real estate led sector gains with a 0.7% rise. On the flip side, healthcare stocks lost 0.5%. All three main indexes are set for weekly gains. Investors are also bracing for any potential spike in volatility from Friday's 'triple witching' - the simultaneous expiration of single stock options, stock index futures, and stock index options contracts that happens once a quarter. Among megacap stocks, Apple advanced 1.3%. Kroger rose 6.4% after the grocery chain increased its annual identical sales forecast. Mondelez International gained 2.4% after brokerage Wells Fargo upgraded the Cadbury parent to 'overweight' from 'equal-weight'. Accenture fell 7.2% after the IT services provider said new bookings decreased in the third quarter. Wall Street's strong gains last month, primarily driven by a softening in Trump's trade stance and strength in corporate earnings, had pushed the benchmark S&P 500 index close to its record peaks before the ongoing conflict in the Middle East made investors risk-averse. The S&P 500 index now remains 2.4% below its record level, and the tech-heavy Nasdaq is 2.8% lower. Advancing issues outnumbered decliners by a 2.16-to-1 ratio on the NYSE and by a 1.45-to-1 ratio on the Nasdaq. The S&P 500 posted 12 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 55 new highs and 31 new lows.
Sharjah 24
7 days ago
- Business
- Sharjah 24
Oil prices soar, stocks slide after Israel strikes Iran
Oil prices surge Oil futures skyrocketed more than 13 percent at one point before settling to gains of around seven percent, reigniting concerns about a renewed spike in inflation. Stock market reaction Following a downturn in Europe and Asia, Wall Street indices remained in the red throughout the day, finishing down more than one percent. Art Hogan, chief market strategist of B. Riley Wealth, noted, "After having a pretty solid run in May and the first part of June, markets found an excuse to take some profits." Airline shares drop Shares in major airlines plummeted as flights around the Middle East were suspended, further impacting market sentiment. Safe-Haven assets rise The dollar climbed higher, while gold, a safe haven investment, approached its record high of over $3,500 an ounce, having increased by around 30 percent since the year's start. David Morrison, senior market analyst at Trade Nation, remarked that the drop in equities and rise in safe-haven assets highlight the fragility of market sentiment amid geopolitical events. Escalating tensions On Friday, Iran launched ballistic missiles at Israel in retaliation for Israeli strikes targeting its nuclear facilities. Prime Minister Benjamin Netanyahu warned of "several waves of Iranian attacks" in response, with smoke seen rising above Tel Aviv. Market sentiment Despite a negative day for equities, analysts described the selling as orderly. Steve Sosnick of Interactive Brokers noted, "Investors are paring back some risk, but this is hardly a panicky sell-off," indicating a cautious wait-and-see approach among investors. Implications for oil prices and inflation Matthew Ryan, head of market strategy at Ebury, stated that further escalation could disrupt Iranian oil production, raising oil prices and complicating the decisions of major central banks regarding interest rates. Rising oil prices could weigh on global growth and maintain inflationary pressures for longer.
Int'l Business Times
13-06-2025
- Business
- Int'l Business Times
Oil Prices Soar, Stocks Slide After Israel Strikes Iran
Oil prices soared and stocks sank Friday after Israel launched strikes on Iran, prompting retaliation from Tehran and stoking fears of a full-blown war. Oil futures rocketed more than 13 percent at one point before coming back to gains nearer seven percent, reigniting worries about a renewed spike to inflation. After a down day in Europe and Asia, Wall Street indices spent the entire day in the red before finishing the day down more than one percent. "After having a pretty solid run in May and the first part of June, markets found an excuse to take some profits," said Art Hogan, chief market strategist of B. Riley Wealth. Shares in major airlines tumbled after flights around the Middle East were suspended. The dollar climbed higher, while gold -- viewed as a safe haven investment -- was close to its record high of above $3,500 an ounce set in April, having added around 30 percent since the start of the year. The drop in equities and rise in safe-haven assets "all go to show just how fragile sentiment remains in the face of major geopolitical events," said David Morrison, senior market analyst at financial services provider Trade Nation. "The question now is whether investors view this flare-up as a relatively contained incident within the longstanding animosity between Israel and Iran, or if this is the spark that ignites a conflagration across the Middle East and then beyond?" On Friday, Iran fired a barrage of ballistic missiles at Israel in a counter-strike just hours after the Israeli strikes targeting the Islamic republic's nuclear facilities and bases. Air raid sirens and explosions rang out across Israel after Prime Minister Benjamin Netanyahu took to the airways to issue a word of caution, saying he expected "several waves of Iranian attacks" in response. Smoke could later be seen billowing above the skyscrapers in downtown Tel Aviv, according to an AFP journalist, as Iran's Revolutionary Guards said they had attacked dozens of targets in Israel. While Friday was a decisively negative day for equities, analysts described the selling as orderly. Investors "are paring back some risk, but this is hardly a panicky sell-off," said Steve Sosnick of Interactive Brokers. The market is partially in "a wait and see approach to what happens over the weekend because it's obviously a very fluid volatile situation," Sosnick added. But further escalation would add more upward pressure to oil prices. Matthew Ryan, head of market strategy at global financial services firm Ebury, said: "The big fear for investors is that an escalation to the tensions will not only raise the risk of a prolonged conflict, but it could disrupt Iranian oil production." Rising oil prices have "broader implications," Ryan said, noting that they "could both weigh on the global growth outlook and keep inflationary pressures higher for longer." This would complicate the decision-making of major central banks, which will have to decide between raising interest rates to curb inflation or cutting them to stimulate economies. Brent North Sea Crude: UP 7.0 percent at $74.23 per barrel West Texas Intermediate: UP 7.3 percent at $72.98 per barrel New York - Dow: DOWN 1.8 percent at 42,197.79 (close) New York - S&P 500: DOWN 1.1 percent at 5,976.97 (close) New York - Nasdaq Composite: DOWN 1.3 percent at 19,406.83 (close) London - FTSE 100: DOWN 0.4 percent at 8,850.63 (close) Paris - CAC 40: DOWN 1.0 percent at 7,684.68 (close) Frankfurt - DAX: DOWN 1.1 percent at 23,516.23 (close) Tokyo - Nikkei 225: DOWN 0.9 percent at 37,834.25 (close) Hong Kong - Hang Seng Index: DOWN 0.6 percent at 23,892.56 (close) Shanghai - Composite: DOWN 0.8 percent at 3,377.00 (close) Euro/dollar: DOWN at $1.1540 from $1.1584 on Thursday
