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Yahoo
a day ago
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq mixed with Trump's Iran decision, Fed rate cuts in focus
US stocks were mixed on Friday, with investors weighing the possibility of Fed interest rate cuts by July, as well as the likelihood of direct US military involvement in the Israel-Iran conflict after President Trump set a deadline for a decision. The Dow Jones Industrial Average (^DJI) rose 0.4%. The S&P 500 (^GSPC) erased early morning gains to fall 0.2%, while the tech-heavy Nasdaq Composite (^IXIC) fell 0.6%. Markets were closed on Thursday in observance of Juneteenth. Trump has introduced a self-imposed two-week time limit on deciding whether to enter the Middle East conflict, via a message relayed on Thursday by the White House press secretary. While the move added another layer of uncertainty to an already cautious market, it also opened a window for diplomacy to persuade Iran to negotiate — an idea its president rejected strongly on Friday. Eyes are now on European efforts to get Iran back to the table and avert further escalation in tensions. Foreign ministers from France, the UK, and Germany are holding talks in Geneva with their Iranian counterpart. Meanwhile, Fed governor Chris Waller on Friday floated the possibility of rate cuts in July, arguing recent inflation data has been tame even amid the introduction of Trump's tariffs.. The central bank held interest rates steady this week, and Federal Reserve Chair Jerome Powell reiterated that policymakers are not rushing to ease, leading to a fresh attack from Trump. Waller's comments led to a slight uptick in bets on a July cut, though most traders are betting on the next cut coming in September, according to CME Group. Read more: The latest on Trump's tariffs Circle's (CRCL) massive rally shows no signs of cooling. The stablecoin issuer soared as much as 15% in early trading on Friday, extending its stunning post-IPO surge as Wall Street bets big on crypto's next major disruptor. "Circle as a top-tier crypto 'disruptor' with a sizeable future opportunity," wrote Seaport Research Partners analyst Jeff Cantwell on Friday. "On the back of an improving regulatory climate, we expect adoption globally of stablecoins such as USDC," he added. Cantwell initiated the stock with a Buy rating and a price target of $235 a share from Seaport Research Partners. During mid-morning trading on Friday, Circle stock hovered near $228. The move follows a surge of about 30% on Wednesday following the Senate's passage of the GENIUS Act, legislation that provides a federal framework for stablecoins, which are digital tokens backed by assets, such as the US dollar. US stocks rose on Friday following dovish comments from Fed Governor Chris Waller. Investors also digested President Trump's two-week deadline for deciding whether the US will directly get involved in the Israel-Iran conflict. The Dow Jones Industrial Average (^DJI) rose 0.3% while the broad-based S&P 500 (^GSPC) gained roughly 0.4%. The tech-heavy Nasdaq Composite (^IXIC) rose 0.4%. Oil prices fell after the White House said Trump would make his decision within two weeks, leaving open room for diplomacy. Still, crude futures were on pace for a third week of gains. Dovish comments also sent stocks higher after Fed governor Chris Waller on CNBC's Squawk Box, suggested that the Federal Reserve could move to lower interest rates in July. Waller said that any inflation from tariffs may be short-lived. US stock futures edged higher ahead of the opening bell, with contracts on the Dow Jones Industrial Average futures (YM=F) and S&P 500 (ES=F) rising roughly 0.3%, and those on the tech-heavy Nasdaq 100 (NQ=F) adding 0.4%. The move higher followed dovish comments from Fed governor Chris Waller on CNBC's Squawk Box, suggesting that the Federal Reserve could move to lower interest rates in July. Waller argued that any inflation from tariffs may be short-lived. "Any tariff inflation ... I don't think is going to be that big, and we should just look through it in terms of setting policy," Waller said. "The data the last few months has been showing that trend inflation is looking pretty good ... We could do this as early as July." Read more here. Yahoo Finance's Brooke DiPalma reports: Read more here. A recent memo from Amazon (AMZN) CEO Andy Jassy revived concerns about the scope of change to the labor market from artificial intelligence. While employers see growth and productivity, employees are worried about massive displacement in their jobs. And now, it's something the Federal Reserve is watching closely too: Hamza Shaban writes in today's Morning Brief: Read more here. Accenture (ACN) stock is down more than 4% after the global consultancy company reported new bookings decreased 6% to $19.7 billion in the quarter. Earnings topped estimates, with revenue coming in at $17.7 billion for the quarter, compared with analysts' average estimate of $17.30 billion, according to data compiled by LSEG. Reuters reports: Read more here. CarMax (KMX) stock climbed 11% in premarket trading after the used car dealer's first quarter earnings and revenue beat Wall Street expectations. CarMax sold 379,727 cars in the first quarter, a 5.8% increase from the same period last year. The company also reported earnings per share of $1.38, and revenue rose 6.1% to $7.55 billion, topping estimates. CarMax CEO Bill Nash said that its omnichannel buying and selling experience "is a key differentiator in a very large and fragmented market that positions us to continue to drive sales, gain market share, and deliver significant year-over-year earnings growth for years to come.' Bloomberg reports: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: Tesla (TSLA) stock rose over 1% before the bell following reports that the EV maker had signed a $557 million energy storage station deal. This deal was announced two days before Elon Musk's expected launch of its robotaxi. Semiconductor maker, Wolfspeed's (WOLF) stock fell 4% premarket after reports emerged on Thursday it would be taken over by creditors inculding Apollo Global Management. The chipmaker has been struggling recently and the new proposal would put them into bankruptcy. GMS (GMS) stock was up 23% after the Wall Street Journal (WSJ) reported that Home Depot (HD) the home-improvement giant, has made an offer to acquire GMS, a building-products distribution company, citing people familiar with the matter. The WSJ did not specify a price. Economic data: Leading index (May); Philadelphia Fed Business Outlook (June) Earnings: Accenture (ACN), CarMax (KMX), Darden Restaurants (DRI), Kroger (KR) Here are some of the biggest stories you may have missed yesterday, overnight and early this morning: The Fed is also in 'wait and see' mode about AI taking jobs The Trump phone probably won't be built in the US Investors look past 'blah' Fed meeting Tesla signs deal for first China battery storage station: Report Trump to decide on Iran strike within two weeks Dealmaking in 2025: AI to the rescue Tariff talks with Canada, EU take focus as deadlines loom A $20B clock is ticking for OpenAI as Microsoft talks sour Trump blasts Powell again, calls for effectively 10 Fed rate cuts China's rare earth magnet shipments halve in May due to export curbs Why the US housing market is so stuck Shares of Pop Mart ( PMRTY) slid in Hong Kong after a call for stricter regulation of blind-box and trading cards in Chinese state media. That fueled concerns about prospects for the maker of furry Labubu elf dolls, whose explosive popularity has helped lift Beijing-based Pop Mart's market cap to around $40 billion — twice that of Hasbro (HAS) and Mattel (MAT) combined. Bloomberg reports: Read more here. Oil prices look set to end this week with gains for the third consecutive week in a row. Extreme tensions in the Middle East have put consistent upwards pressure on the commodity, with the recent eruption into outright violence leaving investors looking at supply chains and production facilities with concern. Reuters reports: ` Read more here. Circle's (CRCL) massive rally shows no signs of cooling. The stablecoin issuer soared as much as 15% in early trading on Friday, extending its stunning post-IPO surge as Wall Street bets big on crypto's next major disruptor. "Circle as a top-tier crypto 'disruptor' with a sizeable future opportunity," wrote Seaport Research Partners analyst Jeff Cantwell on Friday. "On the back of an improving regulatory climate, we expect adoption globally of stablecoins such as USDC," he added. Cantwell initiated the stock with a Buy rating and a price target of $235 a share from Seaport Research Partners. During mid-morning trading on Friday, Circle stock hovered near $228. The move follows a surge of about 30% on Wednesday following the Senate's passage of the GENIUS Act, legislation that provides a federal framework for stablecoins, which are digital tokens backed by assets, such as the US dollar. US stocks rose on Friday following dovish comments from Fed Governor Chris Waller. Investors also digested President Trump's two-week deadline for deciding whether the US will directly get involved in the Israel-Iran conflict. The Dow Jones Industrial Average (^DJI) rose 0.3% while the broad-based S&P 500 (^GSPC) gained roughly 0.4%. The tech-heavy Nasdaq Composite (^IXIC) rose 0.4%. Oil prices fell after the White House said Trump would make his decision within two weeks, leaving open room for diplomacy. Still, crude futures were on pace for a third week of gains. Dovish comments also sent stocks higher after Fed governor Chris Waller on CNBC's Squawk Box, suggested that the Federal Reserve could move to lower interest rates in July. Waller said that any inflation from tariffs may be short-lived. US stock futures edged higher ahead of the opening bell, with contracts on the Dow Jones Industrial Average futures (YM=F) and S&P 500 (ES=F) rising roughly 0.3%, and those on the tech-heavy Nasdaq 100 (NQ=F) adding 0.4%. The move higher followed dovish comments from Fed governor Chris Waller on CNBC's Squawk Box, suggesting that the Federal Reserve could move to lower interest rates in July. Waller argued that any inflation from tariffs may be short-lived. "Any tariff inflation ... I don't think is going to be that big, and we should just look through it in terms of setting policy," Waller said. "The data the last few months has been showing that trend inflation is looking pretty good ... We could do this as early as July." Read more here. Yahoo Finance's Brooke DiPalma reports: Read more here. A recent memo from Amazon (AMZN) CEO Andy Jassy revived concerns about the scope of change to the labor market from artificial intelligence. While employers see growth and productivity, employees are worried about massive displacement in their jobs. And now, it's something the Federal Reserve is watching closely too: Hamza Shaban writes in today's Morning Brief: Read more here. Accenture (ACN) stock is down more than 4% after the global consultancy company reported new bookings decreased 6% to $19.7 billion in the quarter. Earnings topped estimates, with revenue coming in at $17.7 billion for the quarter, compared with analysts' average estimate of $17.30 billion, according to data compiled by LSEG. Reuters reports: Read more here. CarMax (KMX) stock climbed 11% in premarket trading after the used car dealer's first quarter earnings and revenue beat Wall Street expectations. CarMax sold 379,727 cars in the first quarter, a 5.8% increase from the same period last year. The company also reported earnings per share of $1.38, and revenue rose 6.1% to $7.55 billion, topping estimates. CarMax CEO Bill Nash said that its omnichannel buying and selling experience "is a key differentiator in a very large and fragmented market that positions us to continue to drive sales, gain market share, and deliver significant year-over-year earnings growth for years to come.' Bloomberg reports: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: Tesla (TSLA) stock rose over 1% before the bell following reports that the EV maker had signed a $557 million energy storage station deal. This deal was announced two days before Elon Musk's expected launch of its robotaxi. Semiconductor maker, Wolfspeed's (WOLF) stock fell 4% premarket after reports emerged on Thursday it would be taken over by creditors inculding Apollo Global Management. The chipmaker has been struggling recently and the new proposal would put them into bankruptcy. GMS (GMS) stock was up 23% after the Wall Street Journal (WSJ) reported that Home Depot (HD) the home-improvement giant, has made an offer to acquire GMS, a building-products distribution company, citing people familiar with the matter. The WSJ did not specify a price. Economic data: Leading index (May); Philadelphia Fed Business Outlook (June) Earnings: Accenture (ACN), CarMax (KMX), Darden Restaurants (DRI), Kroger (KR) Here are some of the biggest stories you may have missed yesterday, overnight and early this morning: The Fed is also in 'wait and see' mode about AI taking jobs The Trump phone probably won't be built in the US Investors look past 'blah' Fed meeting Tesla signs deal for first China battery storage station: Report Trump to decide on Iran strike within two weeks Dealmaking in 2025: AI to the rescue Tariff talks with Canada, EU take focus as deadlines loom A $20B clock is ticking for OpenAI as Microsoft talks sour Trump blasts Powell again, calls for effectively 10 Fed rate cuts China's rare earth magnet shipments halve in May due to export curbs Why the US housing market is so stuck Shares of Pop Mart ( PMRTY) slid in Hong Kong after a call for stricter regulation of blind-box and trading cards in Chinese state media. That fueled concerns about prospects for the maker of furry Labubu elf dolls, whose explosive popularity has helped lift Beijing-based Pop Mart's market cap to around $40 billion — twice that of Hasbro (HAS) and Mattel (MAT) combined. Bloomberg reports: Read more here. Oil prices look set to end this week with gains for the third consecutive week in a row. Extreme tensions in the Middle East have put consistent upwards pressure on the commodity, with the recent eruption into outright violence leaving investors looking at supply chains and production facilities with concern. Reuters reports: ` Read more here. Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq mixed with Trump's Iran decision, Fed rate cuts in focus
US stocks were mixed on Friday, with investors weighing the possibility of Fed interest rate cuts by July, as well as the likelihood of direct US military involvement in the Israel-Iran conflict after President Trump set a deadline for a decision. The Dow Jones Industrial Average (^DJI) rose 0.4%. The S&P 500 (^GSPC) gained roughly 0.2%, while the tech-heavy Nasdaq Composite (^IXIC) fell below the flatline. Markets were closed on Thursday in observance of Juneteenth. Trump has introduced a self-imposed two-week time limit on deciding whether to enter the Middle East conflict, via a message relayed on Thursday by the White House press secretary. While the move added another layer of uncertainty to an already cautious market, it also opened a window for diplomacy to persuade Iran to negotiate — an idea its president rejected strongly on Friday. Eyes are now on European efforts to get Iran back to the table and avert further escalation in tensions. Foreign ministers from France, the UK, and Germany are holding talks in Geneva with their Iranian counterpart. Meanwhile, Fed governor Chris Waller on Friday floated the possibility of rate cuts in July, arguing recent inflation data has been tame even amid the introduction of Trump's tariffs.. The central bank held interest rates steady this week, and Federal Reserve Chair Jerome Powell reiterated that policymakers are not rushing to ease, leading to a fresh attack from Trump. Waller's comments led to a slight uptick in bets on a July cut, though most traders are betting on the next cut coming in September, according to CME Group. Read more: The latest on Trump's tariffs Circle's (CRCL) massive rally shows no signs of cooling. The stablecoin issuer soared as much as 15% in early trading on Friday, extending its stunning post-IPO surge as Wall Street bets big on crypto's next major disruptor. "Circle as a top-tier crypto 'disruptor' with a sizeable future opportunity," wrote Seaport Research Partners analyst Jeff Cantwell on Friday. "On the back of an improving regulatory climate, we expect adoption globally of stablecoins such as USDC," he added. Cantwell initiated the stock with a Buy rating and a price target of $235 a share from Seaport Research Partners. During mid-morning trading on Friday, Circle stock hovered near $228. The move follows a surge of about 30% on Wednesday following the Senate's passage of the GENIUS Act, legislation that provides a federal framework for stablecoins, which are digital tokens backed by assets, such as the US dollar. US stocks rose on Friday following dovish comments from Fed Governor Chris Waller. Investors also digested President Trump's two-week deadline for deciding whether the US will directly get involved in the Israel-Iran conflict. The Dow Jones Industrial Average (^DJI) rose 0.3% while the broad-based S&P 500 (^GSPC) gained roughly 0.4%. The tech-heavy Nasdaq Composite (^IXIC) rose 0.4%. Oil prices fell after the White House said Trump would make his decision within two weeks, leaving open room for diplomacy. Still, crude futures were on pace for a third week of gains. Dovish comments also sent stocks higher after Fed governor Chris Waller on CNBC's Squawk Box, suggested that the Federal Reserve could move to lower interest rates in July. Waller said that any inflation from tariffs may be short-lived. US stock futures edged higher ahead of the opening bell, with contracts on the Dow Jones Industrial Average futures (YM=F) and S&P 500 (ES=F) rising roughly 0.3%, and those on the tech-heavy Nasdaq 100 (NQ=F) adding 0.4%. The move higher followed dovish comments from Fed governor Chris Waller on CNBC's Squawk Box, suggesting that the Federal Reserve could move to lower interest rates in July. Waller argued that any inflation from tariffs may be short-lived. "Any tariff inflation ... I don't think is going to be that big, and we should just look through it in terms of setting policy," Waller said. "The data the last few months has been showing that trend inflation is looking pretty good ... We could do this as early as July." Read more here. Yahoo Finance's Brooke DiPalma reports: Read more here. A recent memo from Amazon (AMZN) CEO Andy Jassy revived concerns about the scope of change to the labor market from artificial intelligence. While employers see growth and productivity, employees are worried about massive displacement in their jobs. And now, it's something the Federal Reserve is watching closely too: Hamza Shaban writes in today's Morning Brief: Read more here. Accenture (ACN) stock is down more than 4% after the global consultancy company reported new bookings decreased 6% to $19.7 billion in the quarter. Earnings topped estimates, with revenue coming in at $17.7 billion for the quarter, compared with analysts' average estimate of $17.30 billion, according to data compiled by LSEG. Reuters reports: Read more here. CarMax (KMX) stock climbed 11% in premarket trading after the used car dealer's first quarter earnings and revenue beat Wall Street expectations. CarMax sold 379,727 cars in the first quarter, a 5.8% increase from the same period last year. The company also reported earnings per share of $1.38, and revenue rose 6.1% to $7.55 billion, topping estimates. CarMax CEO Bill Nash said that its omnichannel buying and selling experience "is a key differentiator in a very large and fragmented market that positions us to continue to drive sales, gain market share, and deliver significant year-over-year earnings growth for years to come.' Bloomberg reports: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: Tesla (TSLA) stock rose over 1% before the bell following reports that the EV maker had signed a $557 million energy storage station deal. This deal was announced two days before Elon Musk's expected launch of its robotaxi. Semiconductor maker, Wolfspeed's (WOLF) stock fell 4% premarket after reports emerged on Thursday it would be taken over by creditors inculding Apollo Global Management. The chipmaker has been struggling recently and the new proposal would put them into bankruptcy. GMS (GMS) stock was up 23% after the Wall Street Journal (WSJ) reported that Home Depot (HD) the home-improvement giant, has made an offer to acquire GMS, a building-products distribution company, citing people familiar with the matter. The WSJ did not specify a price. Economic data: Leading index (May); Philadelphia Fed Business Outlook (June) Earnings: Accenture (ACN), CarMax (KMX), Darden Restaurants (DRI), Kroger (KR) Here are some of the biggest stories you may have missed yesterday, overnight and early this morning: The Fed is also in 'wait and see' mode about AI taking jobs The Trump phone probably won't be built in the US Investors look past 'blah' Fed meeting Tesla signs deal for first China battery storage station: Report Trump to decide on Iran strike within two weeks Dealmaking in 2025: AI to the rescue Tariff talks with Canada, EU take focus as deadlines loom A $20B clock is ticking for OpenAI as Microsoft talks sour Trump blasts Powell again, calls for effectively 10 Fed rate cuts China's rare earth magnet shipments halve in May due to export curbs Why the US housing market is so stuck Shares of Pop Mart ( PMRTY) slid in Hong Kong after a call for stricter regulation of blind-box and trading cards in Chinese state media. That fueled concerns about prospects for the maker of furry Labubu elf dolls, whose explosive popularity has helped lift Beijing-based Pop Mart's market cap to around $40 billion — twice that of Hasbro (HAS) and Mattel (MAT) combined. Bloomberg reports: Read more here. Oil prices look set to end this week with gains for the third consecutive week in a row. Extreme tensions in the Middle East have put consistent upwards pressure on the commodity, with the recent eruption into outright violence leaving investors looking at supply chains and production facilities with concern. Reuters reports: ` Read more here. Circle's (CRCL) massive rally shows no signs of cooling. The stablecoin issuer soared as much as 15% in early trading on Friday, extending its stunning post-IPO surge as Wall Street bets big on crypto's next major disruptor. "Circle as a top-tier crypto 'disruptor' with a sizeable future opportunity," wrote Seaport Research Partners analyst Jeff Cantwell on Friday. "On the back of an improving regulatory climate, we expect adoption globally of stablecoins such as USDC," he added. Cantwell initiated the stock with a Buy rating and a price target of $235 a share from Seaport Research Partners. During mid-morning trading on Friday, Circle stock hovered near $228. The move follows a surge of about 30% on Wednesday following the Senate's passage of the GENIUS Act, legislation that provides a federal framework for stablecoins, which are digital tokens backed by assets, such as the US dollar. US stocks rose on Friday following dovish comments from Fed Governor Chris Waller. Investors also digested President Trump's two-week deadline for deciding whether the US will directly get involved in the Israel-Iran conflict. The Dow Jones Industrial Average (^DJI) rose 0.3% while the broad-based S&P 500 (^GSPC) gained roughly 0.4%. The tech-heavy Nasdaq Composite (^IXIC) rose 0.4%. Oil prices fell after the White House said Trump would make his decision within two weeks, leaving open room for diplomacy. Still, crude futures were on pace for a third week of gains. Dovish comments also sent stocks higher after Fed governor Chris Waller on CNBC's Squawk Box, suggested that the Federal Reserve could move to lower interest rates in July. Waller said that any inflation from tariffs may be short-lived. US stock futures edged higher ahead of the opening bell, with contracts on the Dow Jones Industrial Average futures (YM=F) and S&P 500 (ES=F) rising roughly 0.3%, and those on the tech-heavy Nasdaq 100 (NQ=F) adding 0.4%. The move higher followed dovish comments from Fed governor Chris Waller on CNBC's Squawk Box, suggesting that the Federal Reserve could move to lower interest rates in July. Waller argued that any inflation from tariffs may be short-lived. "Any tariff inflation ... I don't think is going to be that big, and we should just look through it in terms of setting policy," Waller said. "The data the last few months has been showing that trend inflation is looking pretty good ... We could do this as early as July." Read more here. Yahoo Finance's Brooke DiPalma reports: Read more here. A recent memo from Amazon (AMZN) CEO Andy Jassy revived concerns about the scope of change to the labor market from artificial intelligence. While employers see growth and productivity, employees are worried about massive displacement in their jobs. And now, it's something the Federal Reserve is watching closely too: Hamza Shaban writes in today's Morning Brief: Read more here. Accenture (ACN) stock is down more than 4% after the global consultancy company reported new bookings decreased 6% to $19.7 billion in the quarter. Earnings topped estimates, with revenue coming in at $17.7 billion for the quarter, compared with analysts' average estimate of $17.30 billion, according to data compiled by LSEG. Reuters reports: Read more here. CarMax (KMX) stock climbed 11% in premarket trading after the used car dealer's first quarter earnings and revenue beat Wall Street expectations. CarMax sold 379,727 cars in the first quarter, a 5.8% increase from the same period last year. The company also reported earnings per share of $1.38, and revenue rose 6.1% to $7.55 billion, topping estimates. CarMax CEO Bill Nash said that its omnichannel buying and selling experience "is a key differentiator in a very large and fragmented market that positions us to continue to drive sales, gain market share, and deliver significant year-over-year earnings growth for years to come.' Bloomberg reports: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: Tesla (TSLA) stock rose over 1% before the bell following reports that the EV maker had signed a $557 million energy storage station deal. This deal was announced two days before Elon Musk's expected launch of its robotaxi. Semiconductor maker, Wolfspeed's (WOLF) stock fell 4% premarket after reports emerged on Thursday it would be taken over by creditors inculding Apollo Global Management. The chipmaker has been struggling recently and the new proposal would put them into bankruptcy. GMS (GMS) stock was up 23% after the Wall Street Journal (WSJ) reported that Home Depot (HD) the home-improvement giant, has made an offer to acquire GMS, a building-products distribution company, citing people familiar with the matter. The WSJ did not specify a price. Economic data: Leading index (May); Philadelphia Fed Business Outlook (June) Earnings: Accenture (ACN), CarMax (KMX), Darden Restaurants (DRI), Kroger (KR) Here are some of the biggest stories you may have missed yesterday, overnight and early this morning: The Fed is also in 'wait and see' mode about AI taking jobs The Trump phone probably won't be built in the US Investors look past 'blah' Fed meeting Tesla signs deal for first China battery storage station: Report Trump to decide on Iran strike within two weeks Dealmaking in 2025: AI to the rescue Tariff talks with Canada, EU take focus as deadlines loom A $20B clock is ticking for OpenAI as Microsoft talks sour Trump blasts Powell again, calls for effectively 10 Fed rate cuts China's rare earth magnet shipments halve in May due to export curbs Why the US housing market is so stuck Shares of Pop Mart ( PMRTY) slid in Hong Kong after a call for stricter regulation of blind-box and trading cards in Chinese state media. That fueled concerns about prospects for the maker of furry Labubu elf dolls, whose explosive popularity has helped lift Beijing-based Pop Mart's market cap to around $40 billion — twice that of Hasbro (HAS) and Mattel (MAT) combined. Bloomberg reports: Read more here. Oil prices look set to end this week with gains for the third consecutive week in a row. Extreme tensions in the Middle East have put consistent upwards pressure on the commodity, with the recent eruption into outright violence leaving investors looking at supply chains and production facilities with concern. Reuters reports: ` Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
a day ago
- Business
- Bloomberg
Price Increases Will Come Next Fall: eToro's Lale Akoner
eToro's Global Market Analyst Lale Akoner is expecting two Fed rate cuts this year, after it held for the fourth consecutive meeting. She says importers may be absorbing the cost of US tariffs for now, but price rises are coming. Lale Akoner spoke to Tom Mackenzie on Bloomberg Daybreak Europe. This interview occurred on Thursday, June 19. (Source: Bloomberg)
CNET
a day ago
- Business
- CNET
Mortgage Rates Dip Down: Mortgage Rates on June 20, 2025
Check out CNET Money's weekly mortgage rate forecast for a more in-depth look at what's next for Fed rate cuts, labor data and inflation. Average 30-year fixed mortgage rates have remained close to 7% for the last seven months, keeping prospective homebuyers on the sidelines. For a 30-year fixed-rate mortgage, the average rate you'll pay is 6.82% today, down -0.05% from seven days ago. The average rate for a 15-year fixed mortgage is 6.00%, which is a decrease of -0.04% compared to a week ago. Lingering inflation, threats of a global trade war and policy turbulence have created an uncertain economic outlook. In response, the Federal Reserve has adopted a wait-and-see approach and left interest rates unchanged this year, most recently on June 18. If President Trump rolls back some of his aggressive tariff measures or if the labor market deteriorates, it could prompt the Fed to cut interest rates as early as this fall. But prospective homebuyers shouldn't expect mortgage rates to become affordable overnight. While cheaper borrowing costs gradually trickle down to the housing market, the Fed doesn't directly set lenders' mortgage rates. Plus, in today's unaffordable housing market, mortgage rates are just one piece of the puzzle. High home prices and skyrocketing homeownership expenses, like insurance and property taxes, are further compounding the pressure on prospective buyers. The possibility of a job-loss recession is also pushing many households to tighten their budgets and take on less financial risk. When mortgage rates start to fall, be ready to take advantage. Experts recommend shopping around and comparing multiple offers to get the lowest rate. Enter your information here to get a custom quote from one of CNET's partner lenders. About these rates: Bankrate's tool features rates from partner lenders that you can use when comparing multiple mortgage rates. What's going on with mortgage rates right now? Mortgage rates are closely tied to the bond market, specifically the 10-year Treasury yield, which reflects investors' expectations for inflation, labor data, changes to monetary policy and global measures like tariffs. "Rates could fall if inflation keeps cooling and the labor market softens," said Jeb Smith, licensed real estate agent and member of CNET Money's expert review board. "On the other hand, tariffs could create new inflation pressure. Add in government deficits and increased bond supply, and that puts upward pressure on rates." Even as the Fed eventually starts to reduce borrowing rates, experts caution that significant market volatility is likely. As a result, homebuyers are adopting a more patient and strategic approach to financing, comparing various loan types and planning ahead. "Some are waiting, others are getting pre-approved now so they're ready to act if rates fall," said Smith. For a look at mortgage rate movement in recent years, see the chart below. What is the outlook for mortgage rates in 2025? Despite hopes that 2025 would bring relief to the housing market, economic and political instability have kept it stuck in neutral. Median family income has not kept pace with the surge in housing costs, requiring many households to earn double or triple their salary to afford a modest home in some cities. Meanwhile, the "lock-in" effect, where current homeowners with low-rate mortgages are reluctant to sell and take on higher interest rates, has kept housing inventory tight and fueled price competition in high-demand areas. According to Smith, mortgage rates could move lower slowly and steadily, but numerous risks could also keep rates elevated. Fannie Mae now expects rates around 6.1% by the end of 2025 and 5.8% by the end of 2026. How can I choose a mortgage term? Each mortgage has a loan term, or payment schedule. The most common mortgage terms are 15 and 30 years, although 10-, 20- and 40-year mortgages also exist. With a fixed-rate mortgage, the interest rate is set for the duration of the loan, offering stability. With an adjustable-rate mortgage, the interest rate is only fixed for a certain amount of time (commonly five, seven or 10 years), after which the rate adjusts annually based on the market. Fixed-rate mortgages are a better option if you plan to live in a home in the long term, but adjustable-rate mortgages may offer lower interest rates upfront. 30-year fixed-rate mortgages The average interest rate for a standard 30-year fixed mortgage is 6.82% today. A 30-year fixed mortgage is the most common loan term. It will often have a higher interest rate than a 15-year mortgage, but you'll have a lower monthly payment. 15-year fixed-rate mortgages Today, the average rate for a 15-year, fixed mortgage is 6.00%. Though you'll have a bigger monthly payment than a 30-year fixed mortgage, a 15-year loan usually comes with a lower interest rate, allowing you to pay less interest in the long run and pay off your mortgage sooner. 5/1 adjustable-rate mortgages A 5/1 ARM has an average rate of 6.15% today. You'll typically get a lower introductory interest rate with a 5/1 ARM in the first five years of the mortgage. But you could pay more after that period, depending on how the rate adjusts annually. If you plan to sell or refinance your house within five years, an ARM could be a good option. Calculate your monthly mortgage payment Getting a mortgage should always depend on your financial situation and long-term goals. The most important thing is to make a budget and try to stay within your means. CNET's mortgage calculator below can help homebuyers prepare for monthly mortgage payments. How can I find the best mortgage rates? Though mortgage rates and home prices are high, the housing market won't be unaffordable forever. It's always a good time to save for a down payment and improve your credit score to help you secure a competitive mortgage rate when the time is right. Save for a bigger down payment: Though a 20% down payment isn't required, a larger upfront payment means taking out a smaller mortgage, which will help you save in interest. Boost your credit score: You can qualify for a conventional mortgage with a 620 credit score, but a higher score of at least 740 will get you better rates. Pay off debt: Experts recommend a debt-to-income ratio of 36% or less to help you qualify for the best rates. Not carrying other debt will put you in a better position to handle your monthly payments. Research loans and assistance: Government-sponsored loans have more flexible borrowing requirements than conventional loans. Some government-sponsored or private programs can also help with your down payment and closing costs. Shop around for lenders: Researching and comparing multiple loan offers from different lenders can help you secure the lowest mortgage rate for your situation.
Wall Street Journal
14-05-2025
- Business
- Wall Street Journal
Gold Edges Higher, Supported by Signs of Mild U.S. Inflation
2348 GMT — Gold edges higher in the early Asian session, supported by signs of mild U.S. inflation that back the case for further Fed rate cuts that would enhance the appeal of the non-interest-bearing precious metal. Economic data released Tuesday showed CPI rose a seasonally adjusted 0.2% in April, but year-over-year CPI cooled to 2.3% last month, a four-year low. Also, 'selling exhaustion' of the precious metal already seems likely, TD Securities' Daniel Ghali says in a research report. Despite the U.S.-China trade deal, Chinese gold ETF inflows continue to gather steam, the senior commodity strategist notes. Spot gold is 0.1% higher at $3,252.70/oz. (
