Asian shares have retreated following declines on Wall Street that snapped a nine-day winning streak for the S&P 500. Oil prices fell despite the latest threats to the U.S.-Iran ceasefire. On Wednesday, the S&P 500 fell 0.7% from its all-time high. The Dow Jones Industrial Average dropped 1.2%, and the Nasdaq composite sank 0.9%. Oil prices shed about $1 early Thursday after surging as both the United States and Iran said they launched retaliations for earlier attacks or attempted ones. Treasury yields also climbed in the bond market to further crank up the pressure on stocks. The smallest U.S. stocks fell to the sharpest losses.
President Donald Trump acknowledged criticizing Israeli Prime Minister Benjamin Netanyahu as “crazy” in a phone call that involved expletives. Trump discussed the tension between the two leaders in an interview released Wednesday. He said he was “a little bit perturbed” that Israel’s fighting with Hezbollah in Lebanon was holding back peace talks with Iran. But the president insisted that his relationship with Netanyahu was solid and that they connected, in part, because they are both wartime leaders. The interview with The New York Post’s “Pod Force One” offered a sign of the growing pressure Trump faces to resolve the Iran war.
Oil prices rose following the latest threats to the U.S.-Iran ceasefire, and U.S. stocks retreated from their records. The S&P 500 fell 0.7% Wednesday from its all-time high and snapped a nine-day winning streak. The Dow Jones Industrial Average dropped 1.2%, and the Nasdaq composite sank 0.9%. Oil prices rose roughly 2% after both the United States and Iran said they launched retaliations for earlier attacks or attempted ones. Treasury yields also climbed in the bond market to further crank up the pressure on stocks. The smallest U.S. stocks fell to the sharpest losses.
Oil prices rose following the latest fighting to threaten the U.S.-Iran ceasefire, but Wall Street isn’t very worried, and U.S. stocks ticked to more records. The S&P 500 added 0.3% Monday to its prior all-time high set on Friday. The Dow Jones Industrial Average rose 0.1%, and the Nasdaq composite climbed 0.4% to likewise set records. The price for a barrel of Brent crude rose more than 4%, which pushed up Treasury yields and hurt companies with big fuel bills. But strong profit reports from U.S. companies and continued strength for big technology stocks kept Wall Street's momentum going.
U.S. President Donald Trump says Israel and Hezbollah have agreed to dial back fighting after he held talks with Israeli Prime Minister Benjamin Netanyahu and communicated with the Lebanon-militant group through mediators. Trump announced the development Monday in a social media post following a call with Netanyahu. Israeli forces recently made their deepest incursion into Lebanon in more than a quarter-century. Trump’s comments emerged after Israel’s government ordered strikes on the southern suburbs of Beirut and as Hezbollah fired rockets at northern Israel, including the outskirts of the coastal city of Haifa.
New York City Mayor Zohran Mamdani will not attend an annual parade honoring Israel. The fierce defender of Palestinian human rights is skipping the event as he remains under heavy scrutiny from some of the city’s Jewish population over his longstanding criticism of Israel. Sunday's Israel Day parade in Manhattan has for years drawn mayors and political leaders. It also attracts a crowd of thousands of blue-and-white flag-waving revelers celebrating the birth of the Jewish state in 1948. Mamdani’s absence has long been expected. But it has riled opponents who view his criticism of Israeli policy as antisemitic.
Stock indexes closed higher on Wall Street, adding to the all-time highs they set a day earlier. The S&P 500 added 0.2% Friday. That was the seventh straight gain for the index. The S&P 500 also closed out its ninth straight winning week, the longest such streak since 2023. Tech stocks led the way, including a 32.8% gain for Dell Technologies after the company delivered profits that blew past expectations. Dell also raised its outlook, citing powerful demand for AI computing. The Dow added 0.7%, and the Nasdaq composite rose 0.2%. European and Asian markets mostly rose. Brent crude fell 1.7%.
Dozens of Palestinians in Gaza City gathered for funeral prayers for 10 people killed in Israeli strikes. The strikes, which took place on the first day of Eid al-Adha, injured more than 20 people, according to Shifa Hospital. Video shows flames pouring from a building as bystanders rush to help the wounded. The Israeli military says it targeted two Hamas militants. Among those killed was Hamas fighter Imad Isleim. Israeli Prime Minister Benjamin Netanyahu says Israel is expanding its control in Gaza.
U.S. stocks pushed to more records as profits keep piling up for companies like Dollar Tree, Snowflake and Hormel Foods. A tentative deal to extend the ceasefire in the war with Iran by 60 days also helped lift the market and rein in oil prices on Thursday. The S&P 500 added 0.6% to its all-time high set the day before after drifting between small gains and losses in the morning. The Dow Jones Industrial Average rose less than 0.1%, and the Nasdaq composite climbed 0.9%, and both indexes also set records. Treasury yields eased in the bond market.
Iranians have begun to regain internet access after authorities ended a monthslong shutdown. But users say service is slow and spotty in some areas, with apps like YouTube and Instagram heavily restricted, as they were before the cutoff began during nationwide protests in January. Authorities justified the outage as a military imperative after the United States and Israel attacked Iran on Feb. 28. Their decision to lift some restrictions this week came as negotiators appeared to be closing in on a more permanent truce. But many Iranians feared access could be cut off again at a moment’s notice.