26 minutes ago
Stocks heading for a down week
With just one day left in the trading week, the three major indexes were down sharply.
The S&P 500 index has fallen for five consecutive sessions, the first time since October. For the week, the composite index fell 2.2%.
This is the third straight negative week for the large-cap benchmark, and the first since September. This is the worst weekly performance since late October.
The Nasdaq Composite Index is expected to fall 3.6%, the biggest decline since September. This is also the fourth consecutive negative week, making it the longest weekly losing streak since December 2022.
The tech stock ratio has also fallen five times in the past, the first time dating back to the period ending in January.
The Dow Jones Industrial Average's decline was much smaller, falling only about 0.6% this week. This is the third consecutive week that the blue-chip average has declined.
— Alex Harring
1 hour ago
Top 19 volatility indexes
The CBOE Volatility Index soared above 19 at one point on Friday morning following reports of an Israeli attack on Iran.
Wall Street's so-called fear index, known as the VIX, reached that level earlier this week. This came after Iran launched drones and missiles toward Israel on Saturday.
But the weekend attack was largely thwarted by Israel's defense systems. Traders have since been watching Israel's response for any signs of further escalation in the Middle East conflict.
The Chicago Options Exchange index rose above 19 in the morning and ended below that level.
— Alex Harring
8 hours ago
Shipping companies rally after Israel begins operations in Iran
Shares in Asian shipping companies rose on news that Israel carried out an operation in Iran and that explosions were heard near Isfahan's airport.
Japanese shipper Mitsui O.S.K. Lines rose 1.81%, while Kawasaki Kisen and Nippon Yusen rose 0.34% and 1.44%.
Hong Kong shipping companies also rose, with Pacific Basin soaring 8.68%. Cosco Shipping Holdings rose more than 4%, and OOIL, the international logistics company that owns Orient Overseas Container Line, rose 4.5%.
10 hours ago
Safe haven assets rise after unconfirmed reports of explosion in Iran.gold hits new record
Safeguards rose after reports of an unconfirmed explosion in Iran, with the country's Fars news agency saying an explosion was heard near the airport in the central city of Isfahan, but the cause was unknown. .
Spot gold prices soared to a record high of 2,411.09 per ounce, while the yen rose 0.45% against the US dollar to 153.93.
Bitcoin price fell 1.44% to $60,186, according to data from Coin Metrics.
— Lim Huijie
10 hours ago
Oil prices rise 3% following reports of explosion in Iran
Oil prices rose more than 3% after unconfirmed reports of an explosion near the Iranian city of Isfahan.
Iran's Fars news agency reported that an explosion was heard near Isfahan airport, but stressed that the cause was unknown.
Global benchmark Brent crude oil rose 2.86% to trade at $89.60 per barrel, while US West Texas Intermediate rose 2.83% to $85.05 per barrel.
—Li Yingshan
12 hours ago
Japan's headline inflation rate fell to 2.7% in March, core inflation rate stable at 2.6%
Japan's headline inflation rate was 2.7% in March, slowing from the 2.8% recorded in February.
The country's core inflation rate was 2.6%, in line with economists polled by Reuters and down from 2.8% in February.
The so-called “core-core” inflation measure used by the Bank of Japan went from 3.2% to 2.9%, falling below 3% for the first time since November 2022.
— Lim Huijie
12 hours ago
Utilities and Consumer Staples Stick to Weekly Rise
Utilities and consumer staples, a defensive part of the market, emerged positive this week even as the S&P 500 faced a third straight week of declines.
These are the only two sectors in the S&P 500 that have risen over the past week. Consumer staples rose 0.49% over the period, led by General Mills and Estée Lauder. Both companies are up more than 4% since the start of the week through Thursday.
Utility stocks were up 0.4% for the week as of Thursday's close, led by Southern Company and Consolidated Edison. Both stocks are up more than 2% since the beginning of the week.
This week's move was marred by a rise in bond yields and a sharp decline in stocks. The situation is particularly tough for the interest rate-sensitive real estate and IT sectors, which are both facing a 4% decline this week.
–Darla Mercado, Chris Hayes
14 hours ago
After-hours moving company
Check out the companies making headlines after the bell:
Intuitive Surgical — Shares of the company, which provides robotic-assisted surgical solutions, rose 1% after the company reported better-than-expected financial results.
KB Home – The homebuilder rose nearly 2% after announcing its board of directors approved a new $1 billion stock buyback.
Western Alliance — Shares of the regional bank fell less than 1% in after-hours trading after the company reported disappointing financial results.
— Yun Lee
14 hours ago
Bearishness increased in latest AAII poll, but bullishness remained above average for 24 consecutive weeks
Main Street investors became more bearish in the latest weekly survey from the American Association of Individual Investors, but not so bullish that they remain above average for the 24th consecutive week.
The number of investors who are pessimistic about the outlook for stock prices over the next six months rose to 34.0% from 24% last week, the highest level since early November.
This is the first time since early November, just after the current bull market began, that investor bearish sentiment has exceeded the historical long-term average of 31.0%.
The bullish ratio narrowed to 38.3% from 43.4% last week, but this is still above the historical long-term average of 37.5%. The most recent high was recorded the week before Christmas, when the bullish mood reached 52.9%, while readings in early and late March were closer to 51.7% and 50.0%.
— Scott Schnipper
