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US stocks edge lower as oil prices return to rising
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....S stocks edge lower as oil prices return to rising<BR>PTI News<BR>Dated:- 17-6-2025<BR>PTI<BR>New York, Jun 17 (AP) US stocks are slipping on Tuesday following signals that one of the US economy's main engines, spending by households, is weakening while Israel's conflict with Iran may be worsening. The S&P 500 was 0.4 per cent lower in early trading. The Dow Jones Industrial Average was down 129....
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.... points, or 0.3 per cent, as of 9:35 am Eastern time, and the Nasdaq composite was 0.4 per cent lower. Treasury yields also nudged lower in the bond market after a report said shoppers spent less last month at US retailers than the month before and than economists expected. Solid such spending has been one of the linchpins keeping the economy out of a recession, but part of May's drop may have s....
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....imply been a return to more normal trends. In April, some shoppers had rushed to buy automobiles to get ahead of President Donald Trump's tariffs. “Today's data suggests consumers are downshifting, but they haven't yet slammed the brakes,” according to Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management Trump, meanwhile, left a Group of Seven conference early an....
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....d warned that people in Iran's capital of Tehran should evacuate “immediately.” It took only about eight hours for Trump to go from suggesting a nuclear deal with Iran remained “achievable” to urging Tehran's 9.5 million residents to flee for their lives. Israel's continuing fight with Iran has the potential to drive up prices for crude oil and gasoline because Iran is a major producer o....
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....f oil, and it also sits on the narrow Strait of Hormuz through which much of the world's crude passes. Crude oil prices jumped in their latest see-saw move after leaping 7 per cent on Friday and then calming somewhat on Monday with hopes that the fighting may remain relatively contained. A barrel of benchmark US crude rose 1.6 per cent to USD 71.39. Brent crude, the international standard, added....
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.... 2 per cent to USD 74.66 per barrel. Often, higher oil prices will help stocks of companies in the solar industry because they increase the desire to switch to alternative energy sources. But solar stocks tumbled amid worries that Congress may phase out tax credits for solar, wind and other sources that produce fewer emissions that change the Earth's climate. First Solar fell 21.7 per cent, an....
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....d Enphase Energy dropped 27.4 per cent. On the winning side of Wall Street was Jabil, which jumped 10.8 per cent after reporting a stronger profit for the latest quarter than analysts expected. CEO Mike Dastoor credited strength from accelerated demand related to artificial-intelligence technology, among other things. All of the action was taking place as the Federal Reserve got set to begin a....
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.... two-day meeting on interest rates. The nearly unanimous expectation among traders and economists is that the Fed will make no move. The Federal Reserve has been hesitant to lower interest rates, and it's been on hold this year after cutting at the end of last year, because it's waiting to see how much Trump's tariffs will hurt the economy and raise inflation. Inflation has remained relatively t....
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....ame recently, and it's near the Fed's target of 2 per cent. More important for financial markets on Wednesday will likely be the latest set of forecasts that Fed officials will publish for where they see the economy and interest rates heading in upcoming years. In the bond market, the yield on the 10-year Treasury fell to 4.42 per cent from 4.46 per cent late Monday. The two-year yield, which ....
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....more closely tracks expectations for what the Fed will do with its overnight interest rate, edged down to 3.95 per cent from 3.97 per cent. In stock markets abroad, indexes fell across much of Europe after finishing mixed in Asia. Tokyo's Nikkei 225 index rose 0.6 per cent after the Bank of Japan opted to keep its key interest rate unchanged. It's been gradually raising its rate from near zero....
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.... and cutting back on its purchases of Japanese government bonds and other assets to help counter inflation. (AP) NPK NPK<BR> News - Press release - PIB....