Latest news with #SpencerPlatt
CNBC
4 days ago
- Business
- CNBC
Stock futures are little changed as investors eye Israel-Iran conflict: Live updates
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City. Spencer Platt | Getty Images Stock futures were roughly flat on Monday evening as investors continued to monitor the conflict between Israel and Iran. Futures tied to the Dow Jones Industrial Average added 26 points, or 0.06%. S&P 500 futures inched up 0.03%, while Nasdaq 100 futures lost 0.02%. The three major averages ended Monday's regular trading on a positive note, with the 30-stock Dow adding more than 300 points. The S&P 500 posted a roughly 0.9% advance, while the Nasdaq Composite jumped 1.5%. Investor sentiment was aided by cooling oil prices, with Brent crude and West Texas Intermediate crude futures settling more than 1% lower. It was a turnaround from the sharp rally in oil prices on Friday following Israel's airstrikes against Iran. Though the attacks went into a fourth day on Monday, Iran reportedly asked several nations, including Saudi Arabia and Qatar, to urge U.S. President Donald Trump to put pressure on Israel for a ceasefire, a Middle East diplomat with knowledge of the matter told NBC News. The diplomat said the ceasefire would be in exchange for Iran's flexibility on nuclear talks. "[Israel's] main short-term objective is to neutralize the Iranian nuclear threat. Longer term, the more difficult goal is to effect regime change, though it is not clear whether that will be achievable," said Jeff Buchbinder, chief equity strategist at LPL Financial. He added that while every conflict is different, an analysis of 25 geopolitical shocks dating back to the Pearl Harbor attack in 1941 showed that stocks have been resilient in these scenarios. Total drawdowns around these events have averaged 4.6% over an average of roughly 19 days, Buchbinder said. "Recoveries to pre-event levels have taken longer, averaging 40 days, but we're still talking about an interruption of only a few weeks to a couple months typically," the strategist said. On the economic front Tuesday, investors will watch for May's retail sales data. The main event this week will be the Federal Reserve's rate policy decision, which is due Wednesday afternoon. Fed funds futures trading data suggests a near certainty that central bank policymakers will hold rates at their current target range of 4.25% to 4.50%, according to the CME FedWatch tool.
IOL News
5 days ago
- Business
- IOL News
Fuel likely to become more expensive in July as oil prices soar on Middle East tensions
International oil prices soared last week following Israel's attack on Iran. Image: Spencer Platt / Getty Images via AFP International oil prices soared past the $70 per barrel mark (R1,255) on Friday as Israel launched air strikes on Iran's nuclear assets, fuelling fears of full-blown war in the oil-rich region. The price of Brent Crude oil rose more than 7% on the day, following an initial 13% spike, to close at $74.23. This is significantly higher than the previous month's average of $63.95 that determined the current fuel price structure. Although the latest data from the Central Energy Fund points to small price decreases of around 7 cents for 95 Unleaded petrol and 11 cents for 50ppm diesel, this is based on accumulated data from earlier in the month when oil prices were still low. Should the current oil price trends persist until the end of this month, July's fuel price outlook will change rapidly for the worse, with increases of more than 30 cents certainly possible. 93 Unleaded petrol currently costs R21.24 per litre in Gauteng, with 95 ULP retailing at R21.35 inland and R20.55 at the coast. Matthew Ryan, head of market strategy at global financial services firm Ebury, said investors currently fear that a prolonged conflict between Israel and Iran could disrupt the latter's oil production. Iran currently produces between 4% and 5% of the world's fuel. 'Rising oil prices have broader implications that could both weigh on the global growth outlook and keep inflationary pressures higher for longer," Ryan told AFP. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ He said this could complicate the decision making of major central banks, which would ultimately have to choose between raising interest rates in order to curb inflation, or cut them to stimulate economic growth. JP Morgan, is still predicting oil prices in the low-to-mid $60s for the remainder of this year, and around $60 in 2026. But the bank said the worst case scenario, in light of conflict in the Middle East, could see prices rising to between $120 and $130. This could occur in the case of the Strait of Hormuz being closed, through which 20% of the world's oil flows, reported. IOL
Toronto Sun
7 days ago
- Politics
- Toronto Sun
SHAPIRO: Trump counting on Lions to defeat rioting Scavengers
Protesters march through downtown Los Angeles as demonstrations continue after a series of immigration raids began last Friday on June 13, 2025, in Los Angeles, California. Photo by Spencer Platt / Getty Images As Los Angeles burst into riots this week over a federal immigration raid, one protester took to his social media channels to explain just what was going on — why arsonists armed with Palestinian flags stood alongside vandals armed with Palestinian flags, why some masked protesters hurled rocks at police cars while others summoned automated Waymo taxis only to set them on fire. His explanation for the riots was lucid and fascinating. The riots, he said, were not about illegal immigration. Of course, they weren't — there are tens of millions of people living illegally in the United States right now and President Donald Trump ran three times on removing them. No, said the protester, the riots were about something more. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account 'Wherever you're at,' the masked and gloved protester explained, 'we all have a common enemy. It is the same one everywhere you go. When you go down the street, there's the enemy — there's the enemy that works for the enemy, who they all work under. So, we all share the same common enemy … From L.A. to Africa to Palestine to Vietnam, we all have the same enemy … We all have to work in unison to fight that one enemy.' One of his friends chimes in, 'Capitalism, imperialism, Zionism!' The protester continues, 'The more we can grow as a people, then the quicker we can get to this revolution and overturn this.' This, in a nutshell, is what I have labelled, in my upcoming book Lions and Scavengers, as the scavenger mentality. It seeks to build nothing. It seeks to tear down everything. From rioters setting cars aflame to fight legal authorities on immigration in Los Angeles to students taking over universities in solidarity with the terrorist group Hamas, from criminals smashing storefronts in Paris to selfie-obsessed celebrities floating their way toward Gaza, the scavenger movement is about destruction. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Society, it turns out, is constructed on success. It is founded on achievement. It is reliant on those who believe they are called to act in accordance with moral duty, that they are responsible for creating and innovating and building up the societies in which they live. These are the Lions. And then there are the Scavengers — those who seek to tear down, who believe their failures are the fault of the society in which they live and that the only cure for inequality of outcome is the evisceration of that society. Scavengers have taken hold of large swaths of the West, from London, where you have a better shot of being arrested for a social media post criticizing Islam than for an assault on a Jew, to Los Angeles, where the Democratic Party will wink and nod at your criminality so long as you proclaim fealty to the Omnicause. And they show no signs of stopping or even slowing. This advertisement has not loaded yet, but your article continues below. Unless they are stopped. The fact that so many in power, in so many countries, feel the need to cater to the Scavengers is a sign of a deep societal sickness and malaise. And that malaise must end. Trump is right to call out the National Guard to put down the rioting in Los Angeles. The law must be enforced and those who violate it must be punished. Scavengers ought not be treated with any level of respect. They are not merely misguided do-gooders who have gone too far, but malign actors who chew away at the foundations of the systems that nourish them. The Scavengers must be defeated. And only Lions can do that. World Toronto Maple Leafs Toronto & GTA Canada Celebrity
CNBC
27-05-2025
- Business
- CNBC
Stock futures are little changed as investors brace for Nvidia earnings: Live updates
Traders work on the floor of the New York Stock Exchange on May 21, 2025 in New York City. Spencer Platt | Getty Images U.S. stock futures were little changed Tuesday night, as investors awaited earnings results from Nvidia, after the Dow Jones Industrial Average snapped a four-day losing streak. Dow futures rose by 49 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures climbed 0.07% and 0.03%, respectively. In extended trading, Okta shares plunged more than 12% after the identity management software company kept its guidance due to macroeconomic uncertainty. Otherwise, Okta beat fiscal first-quarter expectations on the top and bottom lines. Investors are coming off a strong session for the major averages. The 30-stock Dow rallied more than 700 points, or about 1.8%, while the S&P 500 rose 2%, each ending a four-day losing streak. The Nasdaq Composite advanced roughly 2.5%. Those moves come after President Donald Trump on Sunday said that he would delay a 50% tariff on the European Union to July 9, after initially saying Friday that he was "not looking for a deal." This added to investors' hopes the stock market can leave the worst of the tariff chaos behind. "It's important for investors to look past the tariff turmoil and look at the environment where we'll have deregulation, more onshoring. Think about the tax bill, immediate expensing from a tax basis. Greater opportunities for M&A. So, the environment post-tariffs will be a great environment for investing," Treasury Partners' Rich Saperstein said Tuesday on CNBC's "Closing Bell." "Now, in between that, we have uncertainty, which could cause a slowdown in the next two quarters," said Saperstein, chief investment officer of Treasury Partners. "But I would look to the environment post-tariffs into '26, versus looking in the immediate volatility." Investors are awaiting Nvidia 's earnings results, set to release Wednesday after the close. They'll be paying close attention to what China restrictions will mean for the AI chipmaker, which sees no slowing in demand for its graphics processors. Elsewhere, Macy's , Dick's Sporting Goods and Abercrombie & Fitch are set to report before the open on Wednesday. Traders will also be reviewing the minutes from the Federal Reserve May meeting, due out Wednesday afternoon, for insight into how central bank policymakers are thinking through monetary policy at a time of greater macroeconomic uncertainty.
CNBC
20-05-2025
- Business
- CNBC
S&P 500 futures are little changed after benchmark snaps six-day win streak: Live updates
Traders work on the floor of the New York Stock Exchange (NYSE) on May 19, 2025 in New York City. Spencer Platt | Getty Images News | Getty Images S&P 500 futures wavered Tuesday night following a losing session on Wall Street that snapped a winning streak. Futures tied to the broad index shed 0.1%, while Nasdaq 100 futures ticked down 0.2%. Dow Jones Industrial Average futures lost 49 points, or 0.1%. Tuesday night's action comes after a tough session for the three major averages. The S&P 500 ended a six-day win streak, while the Nasdaq Composite saw its first negative day in three. The Dow fell more than 100 points, breaking a three-day positive streak. That marks a pullback amid a major recovery rally for U.S. equities. Investors had been cheering progress on trade deals following President Donald Trump's announcement of broad and steep tariffs last month. All three major averages are still above where they traded on April 2, the day Trump unveiled his import tax policy. The S&P 500 is now up on the year, a sharp reversal after at one point falling on an intraday basis into bear market territory, a term referring to a decline of at least 20% from a recent high. "The equity market's recovery over the past month has been extraordinary in terms of both speed and scale," said Kristian Kerr, head of macro strategy at LPL Financial. "While it may be tempting to interpret this powerful rally as a definitive signal that risks have subsided, the reality is that plenty of uncertainty remains." Investors are continuing to monitor Washington, D.C, for updates on the budget bill and the federal deficit. There is no economic data of note expected on Wednesday. Traders will also parse a plethora of corporate earnings slated for Wednesday. Lowe's , Target , Canada Goose and TJX Cos. are all expected before the bell, followed by Snowflake after the market closes. Stock futures were nearly flat shortly after 6 p.m. ET Tuesday night. Dow and S&P 500 futures each slipped 0.1%, while Nasdaq 100 futures shed 0.2%. — Alex Harring
