Trump threatens Iranian leaders to stop the strike
President Donald Trump threatened Iran’s top leader with assassination as he urged Tehran to end retaliatory airstrikes against Israel.
US stocks were acquired at noon this afternoon, turning to the announcement of the Federal Reserve interest rates.
The S&P 500 rose 0.5%, at around 27 points and nearly 6,010, while the Dow 30 industrialists added 176 points and 0.4% to nearly 42,391 transactions. NASDAQ, which includes more high-tech exposures, jumped 123 points to around 19,644.
The Fed continues to observe the impact of President Donald Trump’s tariffs, so it is expected to maintain stable fees. So far, tariffs have not increased inflation much, and the job market has slowed, but not a crater.
Oil prices have jumped to nearly five months since Israel attacked Iran. Much of the world’s oil comes from the Middle East, and if oil prices rise or continue to rise for a while, they can ignite inflation.
The Fed’s policy announcement is scheduled for 2pm in the East. At the time, the central bank also released economic forecasts. Economists hope that the Fed will raise its inflation outlook and lower forecasts for economic growth. Investors will also consider looking at the number of rate cuts the Fed expects to implement this year and next year.
Economic News
The Census Bureau said Wednesday that home builders had broken the ground with fewer properties than expected in May. The housing was running at the slowest pace since the 2020 Covid-19 lockdown.
Also on Thursday, the Labor Department said first claims for unemployment benefits had dropped slightly in the most recent week. Still, unemployment claims are higher. Oxford’s economics called the trend “conforms to the progressive softening of labor market conditions.” However, FWDBONDS LLC chief economist Chris Rupkey wrote in a note to clients that “first-time applications for unemployment compensation are rising at a level just a few inches away from indicating a recession.”
Cryptocurrency
The Senate on Tuesday passed laws to regulate stablecoins. It is a kind of cryptocurrency designed to maintain a stable price by being locked into widely used assets such as the US dollar.
Senate law requires that keeping dollar reserves of dollars in short-term government debt or similar products overseen by state or federal regulators for dollars, absurd and ridiculous. The bill is now heading to the House of Representatives. This requires a decision to take up the bill or negotiate a compromise.
This step is considered a victory for the crypto industry and further validation of its widespread use. At noon, Bitcoin rose about 0.4% in trades of nearly $104,736.
Financial markets near the June holiday
This is a reduced public holiday week for Wall Street. Financial markets will close on Thursday in June in compliance with federal public holidays.
This story has been updated to add information.
Medora Lee is a money, market and personal finance reporter for USA Today. mjlee@usatoday.com and Subscribe to our free daily money newsletter Personal finance tips and business news every Monday to Friday.
