Latest news with #USMilitaryInvolvement
Yahoo
a day ago
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures slip as Trump mulls US strikes on Iran
US stock futures edged lower Thursday evening as investors weighed the possibility of direct US military involvement in the Israel-Iran war. President Trump on Thursday introduced a self-imposed two week time limit on his decision to enter the conflict, adding another layer of uncertainty to an already cautious market. Dow Jones Industrial Average futures (YM=F) were down over 150 points, or 0.4%, while S&P 500 (ES=F) and Nasdaq 100 (NQ=F) futures each dipped about 0.3%. Markets were closed Thursday in observance of Juneteenth, offering investors a brief pause as global headlines grew more volatile. Tensions between Israel and Iran remain elevated, with markets on edge over the possible US involvement. The White House press secretary, in a message she said had been dictated by Trump, said a decision would come within two weeks. The geopolitical unease continues to send oil prices higher. Brent crude (BZ=F) and West Texas Intermediate (CL=F) futures jumped roughly 3% on Thursday, with traders pricing in supply disruption risk should the Iranian-controlled Strait of Hormuz, a bottleneck for one-fifth of the world's oil trade, be blocked. Iran has been seen upping the rate of export for oil in the hopes of maintaining revenue for the country should issues in supply chains arise. The latest developments come as Wall Street continues to digest comments from Federal Reserve Chair Jerome Powell. Speaking Wednesday after the Fed left interest rates unchanged, Powell reiterated that policymakers are not rushing to ease, saying rate decisions will remain "data-dependent." A majority of traders, according to CME Group, expect a rate cut by September's meeting. Trump renewed his criticism of Powell on Thursday, accusing the central bank of costing the US 'hundreds of billions of dollars' by keeping rates elevated. Trump doubled down on the criticism with a personal attack, claiming of Powell: "He is truly one of the dumbest, and most destructive, people in Government." Read more: The latest on Trump's tariffs Looking ahead, investors will turn their attention to fresh economic data Friday morning, including the Philadelphia Fed's June manufacturing index and the Conference Board's Leading Economic Indicators for May.
Fox News
4 days ago
- Politics
- Fox News
Senate returns amid concerns about deeper US involvement in the Iran, Israel conflict
Expect the debate about the fighting between Israel and Iran to shift to Capitol Hill in the coming hours. Congress has not been in session since bombs began dropping Thursday night. That changes today with the Senate returning to session. Bipartisan lawmakers have begun demanding answers from the administration about just "how involved" the U.S. is in the strikes and the risks it poses for the nation. Members from both parties have generally been supportive of how President Donald Trump has handled the crisis. But there are concerns about what comes next. Firstly, Trump campaigned on a platform of keeping the U.S. out of foreign entanglements. That pledge enthralled much of the MAGA base. But there is worry that certain direct – and even indirect – support for Israel could upset that coalition. This unfolds as the U.S. sends refueling tankers to Europe to be closer to the region. Secondly, many pro-MAGA voters back Israel. But the question is to what extent that involves the U.S. overseas. Lawmakers have questions, too. Is the U.S. merely supporting Israel? Or is the U.S. more involved? And if that's the case, at what point does Congress step in? The president is the commander in chief. But getting the U.S. involved in a "war" requires congressional approval under the Constitution. Sen. Tim Kaine, D-Va., has already introduced a war powers resolution, forcing debate and a vote by the Senate ahead of the U.S. using any military force against Iran. Moreover, there is concern that U.S. action could spark the risk of domestic terrorism in the U.S. – or strikes against American military and diplomatic assets overseas. There could also be the risk of hitting "soft" targets, such as tourist hotspots, say in Europe. Multiple GOP lawmakers advised Iran and its proxies against taking action over the weekend. However, they all indicated that the U.S. would respond with force to a scenario would almost certainly draw the U.S. more deeply into the conflict if Iran forced a retaliatory strike authorized by Washington. It is said you can't be a little bit pregnant. But you can be a little bit at war. And that's what bipartisan lawmakers are trying to establish now: whether the U.S. could in fact be at war. Even if it's just a little bit.
