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Live Updates Live Coverage Has Ended 'Total Surrender' 12:50 pm by Gerelyn Terzo The heat is on, and we’re not talking about the scorching summer temperatures. President Trump has warned that the U.S. has utter control over the skies in Iran, saying, ‘Nobody does it better than the good ol’ USA.” He is now calling for the Iranian government’s “unconditional surrender.” The markets remain under pressure, including a 0.36% decline in the Nasdaq Composite. Homebuilder Doldrums 11:10 am by Gerelyn Terzo American homebuilders have lost confidence in the market, with sentiment sinking to a multi-year low in June, revisiting 2022 levels. The National Association of Home Builders and Wells Fargo Housing Market Index fell by 2 points to a reading of 32, falling short of expectations for an increase. Construction firms have been lowering prices to spark demand, as consumers remain on the sidelines in the uncertain economic climate. While declines were felt in sales conditions, expectations and foot traffic, one bright spot was the Northeast region, where sales increased slightly. The Nasdaq Composite is currently lower by 0.31%. Retail Sales Dip 9:48 am by Gerelyn Terzo Today’s economic data revealed a downturn in retail sales, which fell a steeper 0.9% last month, pressured by gasoline sales and an increasingly uncertain economic outlook. Economists had predicted a decline of a lesser 0.6%. Pockets of strength were found in auto dealers and building material providers. The Nasdaq Composite is currently down 0.60%. This article will be updated throughout the day, so check back often for more daily updates. The market’s hope for a de-escalation of the Middle East tensions has backfired after conditions took a turn for the worse, sending stocks lower. President Trump issued a warning to evacuate Tehran amid escalating tensions between Israel and Iran. All three of the major stock market indices are under pressure this morning, including a 0.45% drop in the Nasdaq Composite. Most sectors of the economy are under pressure, with the exception of energy, which is posting a gain of 0.40% as a group. Small-cap stocks are higher, as reflected by a 1.1% gain in the Russell 2000 index. Volatility is rising, sending the VIX index up about 4%. The two-day FOMC meeting kicks off today to discuss the fate of interest rates. Economists are largely predicting that the Fed will leave rates unchanged despite President Trump’s push for a rate cut. The markets will also be listening for any forward guidance on the economy as well as any headwinds that Fed Chairman Jerome Powell might identify. All of the Magnificent Seven stocks are down. Wall Street firm Barclays has turned increasingly bullish on AI leader Nvidia (Nasdaq: NVDA), raising its price target on the stock by $30 to $200 per share with an “overweight” rating. Here’s a look at the performance as of morning trading: Dow Jones Industrial Average: Down 138.33 (-0.33%) Nasdaq Composite: Down 89.01 (-0.45%) S&P 500: Down 22.24 (-0.39%) Market Movers Jabil (NYSE: JBL) is soaring 10% today on an upbeat forecast fueled by robust data center demand. Mettler-Toledo (NYSE: MTD), which is in the business of precision instruments, is falling 1.9%. Texas Pacific Land (NYSE: TPL), a dividend-paying U.S. landowner in the Permian Basin, is tacking on 2.1% today. The post Live Nasdaq Composite: Market Hopes Backfire as Mideast Tensions Escalate appeared first on 24/7 Wall St..» Mehr auf 247wallst.com

Live Updates Live Coverage Has Ended Boiling Point 12:55 pm by Gerelyn Terzo Geopolitical tensions are boiling over. President Trump has issued a stark warning regarding Iran, asserting that the U.S. commands “utter control over the skies” in the region, adding, “Nobody does it better than the good ol’ USA.” He has now ratcheted up his warning, calling for the Iranian leadership’s “unconditional surrender.” In response to this escalating situation, the markets are feeling the squeeze, with the SPY ETF now down 0.39%. Homebuilder Hesitation 11:28 am by Gerelyn Terzo Homebuilders are grappling with dwindling confidence, as sentiment plunged to a multi-year low in June, echoing levels last seen in 2022. The National Association of Home Builders/Wells Fargo Housing Market Index edged down by 2 points to a reading of 32, a figure that fell short of predictions for an uptick. Faced with cautious consumers sidelined by the uncertain economic climate, construction firms have increasingly turned to price cuts in a bid to spark demand. While sales conditions, future expectations and buyer foot traffic all registered declines, optimism emerged in the Northeast region, where sales managed a modest rise. Homebuilder stock Toll Brothers (NYSE: TOL) is down 1.2%, while the SPY ETF is now down 0.29%. Retail Sales Drop, Market Narrows Losses 10:22 am by Gerelyn Terzo Retail sales took an unexpected tumble last month, dropping a steeper-than-anticipated 0.9%. This downturn, fueled partly by sliding gasoline sales and a generally cloudier economic outlook, exceeded economists’ predictions for a more modest 0.6% decline. Still, not all corners of the retail sector felt the pinch; auto dealerships and building material suppliers managed to find pockets of strength. The markets are staging an impressive turnaround, with all three of the major stock market indices trimming their losses this morning. The SPY ETF is currently down 0.20%. This article will be updated throughout the day, so check back often for more daily updates. The market’s optimism for an easing of Middle East tensions faded overnight, sending stocks lower early on as conditions for a deal took a turn for the worse. After issuing a warning to flee Tehran, President Trump said he is seeking a “real end” to the conflict between Israel and Iran. This morning, each of the major stock market averages came out of the gate lower but are quickly narrowing their losses, including the SPDR S&P 500 ETF (SPY), which is down 0.20%. Small-cap stocks are defying the broader downtrend, as reflected by a 1.1% jump in the Russell 2000 index. Meanwhile, volatility is on the rise, pushing the VIX index up approximately 4%. Today marks the kickoff of the Federal Open Market Committee’s (FOMC) two-day meeting, where the fate of interest rates will be decided. Economists largely anticipate the Federal Reserve will hold rates steady, even as President Trump continues his push for a rate cut. Market participants are awaiting any signals from Fed Chairman Jerome Powell on the future direction of the economy, as well as any potential headwinds he might see. All of the Magnificent Seven stocks came out of the gate under pressure. On the brighter side for chip-stock bulls, Wall Street firm Barclays has adopted an increasingly bullish stance on AI leader Nvidia (Nasdaq: NVDA), raising its price target on the stock by $30 to $200 per share and reaffirming an “overweight” rating. The major indices are off their worst levels of the session but remain lower: Dow Jones Industrial Average: Down 79.41 (-0.19%) Nasdaq Composite: Down 63.13 (-0.32%) S&P 500: Down 14.22 (-0.22%) Market Movers In company news, Jabil (NYSE: JBL) is surging 10% today, propelled by an upbeat forecast driven by robust data center demand. Mettler-Toledo (NYSE: MTD), a firm specializing in precision instruments, is seeing its shares fall by 1.9%. Texas Pacific Land (NYSE: TPL), a dividend-paying U.S. landowner with significant holdings in the Permian Basin, is tacking on a 2.1% gain today. The post S&P 500 (NYSEARCA: SPY) Live: Markets Retreat as US Hunts ‘Real End’ to Mideast Conflict appeared first on 24/7 Wall St..» Mehr auf 247wallst.com

Despite the recent stock decline, I remain bullish on TPL due to its direct leverage to rising oil prices amid escalating Middle East tensions. TPL's royalty-driven model ensures surging revenues and free cash flow with minimal operational risk as oil prices spike from geopolitical instability. Production growth in the Permian and new royalty deals position TPL for strong Q3 results, especially if oil prices remain elevated.» Mehr auf seekingalpha.com