Iran Stops Talking To Mediators, Reports Say, But Trump Says Talks Continue
Trump called reports of a cessation in talks "false and erroneous."
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Trump called reports of a cessation in talks "false and erroneous."
The S&P 500 and the Dow closed modestly higher โon Tuesday as risk appetite driven by AI fervor was counterbalanced by tensions arising from U.S.-Iran talks to reopen the Strait of Hormuz and end the months-long war.Gains in most of the 11 major S&P sectors kept the S&P 500 and the Dow in the green, with the small-cap Russell 2000 outperforming its larger-cap peers. The Nasdaq โended the session essentially unchanged.Small-cap โ stocks have โ been some of the biggest beneficiaries of the ongoing enthusiasm surrounding artificial intelligence stocks, which provided some upside muscle. The Philadelphia SE Semiconductor Index advanced on the day.The Software & Services Index, โbattered in recent months over worries of AI disruption, closed in negative territory.Strong results from Hewlett Packard Enterprise and a funding commitment from Alphabet reinforced confidence in the โAI buildout."The market is kind of muted at the surface level, but there is a lot going on under the hood, and that describes much of this year," said Mike Dickson, head of portfolio management at Horizon Investments in Charlotte, North Carolina. "There's some massive dispersion in the whole AI infrastructure โecosystem.""Markets could be in for one of these heated, melt-up rallies where the momentum keeps โ winning," Dickson โadded. "I would not be surprised at all to be sitting here at the end of the summer a good bit โhigher."Tehran is studying a โU.S. proposal to bring the war to a halt, but has not been in contact with Washington โ for days, according to Iranian media, which also said Iran is taking a "stern" approach, given โwhat it views as a history of U.S. noncompliance and mutual distrust. Simultaneously, Israel is continuing its โstrikes on Lebanon, despite Tehran's warnings that the attacks are threatening to derail the fragile truce.The war has sent crude prices soaring, reviving worries over inflation and giving rise to an increasing likelihood that the U.S. Federal Reserve could hike interest rates by year-end. Cleveland Fed President Beth Hammack said on Tuesday that such a hike could become necessary if already-elevated inflation pressures continue to mount. On the economic front, a report from the Labor Department showed an unexpected spike in job openings, driven by the volatile professional and business services sector. Otherwise, hiring, firing and quits all decreased, suggesting a slowdown โin labor market churn in the face of uncertainties related to strife in the Middle East and inflationary effects.Analysts look to the May employment report due on Friday, which is expected to show the U.S. economy added 85,000 jobs last โmonth, a monthly deceleration โof 26.1%. The unemployment rate is forecast โ to stand pat at 4.3%.According to preliminary data, the S&P 500 gained 10.07 points, or 0.13%, to end at 7,610.03 points, while the Nasdaq Composite gained 8.78 points, or 0.03%, to 27,095.59. The Dow Jones Industrial Average rose 237.13 points, or 0.46%, to 51,316.01.Hewlett Packard Enterprise jumped after โthe AI server maker pulled forward its long-term financial targets by two years. In further evidence of AI buildout, Alphabet said it was looking to raise $80 billion in equity offerings, including an investment from Berkshire Hathaway, to fund a costly expansion of its AI infrastructure. Its shares lost ground on the day. Marvell Technology's shares surged after Nvidia Chief Executive Officer Jensen Huang called the chipmaker the next "trillion-dollar company" at the Computex conference in Taipei. Nvidia invested $2 billion in Marvell in March.A drop in bitcoin hit cryptocurrency firms Coinbase and Strategy Inc.Broadcom is expected to report quarterly results on Wednesday.
A three-member local officials committee has been constituted to get the audit report by physically visiting madrasas and sanskrit schools across the State
The embassy called on community members to cooperate with local authorities
Former J&K CM Mehbooba Mufti urged political parties and civil society to unite for dialogue with the central government, drawing inspiration from Ladakh's successful engagement. She called for an all-party meeting to address the region's despair and uncertainty, emphasizing the need for a broad consensus post-2019.
The internal family divide became starkly apparent as Babun detailed his systemic isolation from the top echelons of the previous ruling TMC dispensation
From stalled Iran ceasefire talks and reports of a Trump-Netanyahu clash to Mehbooba Muftiโs appeal to New Delhi and Myanmar President U Min Aung Hlaingโs India visit - here are our top stories.
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Minutes before the announcement, Dipke took to X saying, โthe wait is over.โ
The Kerala High Court made headlines by ruling that late e-filing of police reportsโspecifically after the 5 pm cutoffโgives accused parties a right to statutory bail. Justice Kauser Edappagath set free two individuals detained for drug possession, reiterating that the enforcement of filing deadlines is vital to maintaining fairness and protecting the rights of those in the legal system.
Opposition parties Congress and the AAP called for the resignation of education minister Dharmendra Pradhan.
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Law enforcement units have now been ordered to physically verify every CCTV installation
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