U.S. stocks rose and recovered some of their losses from a rare losing week. The S&P 500 climbed 1.2% Monday and broke a five-day losing streak. The Dow Jones Industrial Average added 0.6%, and the Nasdaq composite rose 2.1%. Several AI stocks rose following their sharp swings up and down last week, while Comcast climbed after saying it plans to split off its media businesses from its broadband unit. The gains came despite a rise for oil prices, while Treasury yields held relatively steady in the bond market. European stock indexes dipped, while Asian markets were mixed.
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Iranian drone strikes and US retaliation amid a shaky ceasefire have blunted an uptick in shipping through the Strait of Hormuz. Ships are still moving, but amid a swarm of Iranian speedboats patrolling near a route Iran says is off limits. U.S. President Donald Trump says Iran has asked for talks but Iran hasn’t confirmed that. Meanwhile oil markets remain unruffled and U.S. gas prices have fallen as traders still expect a resolution to the conflict.
AP Wire
High-level negotiations in Switzerland seeking a permanent end to the Iran war have ended. Mediators Pakistan and Qatar said that technical talks will go on there for the rest of the week in a statement issued early Monday. The United States did not immediately acknowledge it, but Iran, through Foreign Ministry spokesman Esmail Baghaei speaking to the state-run IRNA news agency, said “good progress was made.” Tehran took offense at comments Sunday by President Donald Trump, who threatened to attack and told Iran's president to watch what he says.
The Federal Reserve has for decades moved steadily from a remote, opaque government agency that shared little about what it did or why to a more transparent institution willing to explain how it makes decisions and what it thinks about the economy. New chair Kevin Warsh has begun to reverse some of those steps because he believes that by signaling its intentions the Fed pigeonholes itself into a position on interest rates. Yet such an approach carries the risk of more violent swings in stock and bond prices, analysts say, and ultimately higher interest rates for consumers and businesses.
Nigerians repatriated from South Africa following a series of anti-migrant marches and reported attacks on some foreign nationals are struggling to settle into a new life back home. Some of those recently repatriated to Nigeria told The Associated Press how they were relieved at first upon their return but later became worried about their fate. The Nigerian government has said that in the short term the returnees will “receive the appropriate assistance and support before being reunited” with their families. But officials have not set out any long-term plans for them.
Stocks closed higher on Wall Street, taking back most of their losses from a day earlier that were driven by anticipation that the Federal Reserve will likely raise interest rates this year in an effort to fight inflation. The S&P 500 rose 1.1% Thursday. The Dow Jones Industrial Average added 0.1%, and the Nasdaq composite jumped 1.9%. Crude oil prices wavered after the United States and Iran signed an agreement to end their war and reopen the Strait of Hormuz to oil tanker traffic. Treasury yields eased in the bond market.
Bank of England holds main interest rate at 3.75% as inflation pressures on UK economy become more benign.
The interim deal reached by the United States and Iran to end their war will reopen the Strait of Hormuz and bring the two adversaries back to the negotiating table over Tehran’s nuclear program. It will also give Iran an immediate gain, allowing it to sell its oil freely again, according to details released by both countries. Besides the new oil revenue for Iran, the two sides would find themselves more or less back where they were before Israel and the U.S. started the war on Feb. 28. The war has left thousands dead across the region, triggered a global energy crisis and shaken the American economy.
AP Wire
The Federal Reserve kept its key rate unchanged Wednesday yet nearly half the central bank’s policymakers said they could support a rate hike later this year, an unexpectedly aggressive outcome that would disappoint President Trump and suggests heightened concerns about persistent inflation. In an unusually short statement after their two-day meeting, Fed officials dropped language that had suggested their next move would be to cut their key rate. The brief statement reflects the influence of new chair Kevin Warsh, appointed by Trump, who has previously criticized the Fed for commenting too broadly on the economy.
U.S. stocks dropped on speculation the Federal Reserve may raise interest rates this year to keep a lid on inflation. The S&P 500 slumped 1.2% Wednesday after the Fed released projections showing nearly half its policymakers foresee at least one increase to its main interest rate in 2026. The Dow Jones Industrial Average went from a gain of 0.5% in the morning to a drop of 1%, while the Nasdaq composite sank 1.3%. Treasury yields climbed on rising expectations for a hike to rates. Higher rates can tap the brakes on inflation, but they also slow the economy and hurt prices for investments.