Category: Stock Market News

Iran launched several missiles at Islamic State targets in eastern Syria, the nation’s Revolutionary Guard announced Sunday, as retaliation for terrorist attacks earlier this month in Tehran. At least 17 people were killed in those attacks on Iran’s parliament and a shrine on June 7, which the Islamic State took credit for. Iran said it used ground-to-ground, medium-range missiles against targets in Syria’s Deir el-Zour province. Iran’s hard-line Revolutionary Guard supports the regime of Syrian President Bashar al-Assad, and his Hezbollah allies in the Syrian civil war. Iran claimed many terrorists had been killed in the strike, though there was no confirmation of casualties.

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The Illinois man who shot House Majority Whip Steve Scalise and others at a congressional baseball practice earlier this week had in his possession a piece of paper with doodles and the names of three lawmakers, an unnamed person familiar with the case told the Associated Press on Saturday. That person, who was not authorized to speak publicly, said investigators aren’t sure of the significance of the names and doesn’t know if it was a list of people that the shooter, James Hodgkinson, was targeting. The person familiar with the discovery did not disclose the names but said that those listed had been briefed. Hodgkinson had lashed out against President Donald Trump and Republicans over social media. Scalise remains hospitalized in critical condition. His trauma surgeon said Friday he can hope to make an “excellent recovery,” even though the lawmaker arrived at the hospital Wednesday at imminent risk of death.

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London police said 58 people who were in the Grenfell Tower apartment building fire are still missing and presumed to be dead, according to an update issued on Saturday, reported by the AP and other news outlets. The number is based on reports from the public and may rise, officials said. The search for remains had been paused because of safety concerns but has resumed. Emergency workers have reached the top of the 24-story tower, the AP reported. The BBC said the London Fire Brigade has requested that service on two transit lines near the site of the fire be halted over concerns about the stability of the building. At least 30 people have been declared killed in Wednesday’s inferno. Meanwhile, protests continued in London over the government’s handling of the disaster and its support for victims. Between 50 and 60 people stormed Kensington and Chelsea Town Hall, the BBC reported, while crowds gathered outside a hall where Prime Minister Theresa May, struggling in some public opinion polls after her election miscalculation earlier this month, met with survivors.

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The judge in the high-profile sexual assault case of sit-com royalty Bill Cosby, 79, has declared a mistrial on Saturday. After several days of deliberations, the jury could not come to a unanimous agreement, prompting the judge’s decision. The hung jury leaves open the possibility that Cosby will be tried again. District Attorney Kevin Steele said in a tweet that he will pursue retrial. The jury was considering allegations that Cosby drugged and molested Andrea Constand, a former employee of Temple University, at his home near Philadelphia in 2004. Cosby, who could have spent the rest of his life in prison if convicted, has claimed they had a consensual relationship. Dozens of women had come forward with similar claims over the past several years, but in most of those cases the statute of limitations applied.

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A U.S. destroyer collided with a merchant ship off the coast of Japan and is taking on water, according to media reports late Friday. The U.S.S. Fitzgerald collided with the merchant vessel at about 2:30 a.m. Saturday local time about 56 miles from Yokosuka, Japan, the U.S. Navy said in a statement. Both damage to the vessels and injuries are currently being investigated, the Navy said. Navy officials told CNN that the destroyer is taking on water but is not in danger of sinking at this time.

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The Dow industrials closed higher for a fourth straight week, setting a record close Friday while the Nasdaq closed lower for a second as tech shares sold off. The Nasdaq Composite Index closed down 13.74 points, or 0.2%, at 6,151.76, to end the week 0.9% lower. The Dow Jones Industrial Average finished up 24.38 points, or 0.1%, at a record 21,384.28, as gains from Chevron Corp. and Exxon Mobil Corp. were hampered by large drops in shares of Wal-Mart Stores Inc. and Nike Inc . The blue-chip average finished with a 0.5% gain on the week. The S&P 500 index finished up 0.69 points at 2,433.15, with consumer staples the worst performing sector and energy the strongest gainer. The S&P 500 finished less than 0.1% higher on the week.

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Dallas Fed President Robert Kaplan on Friday said he would like to see higher inflation before he would be comfortable voting to raise rates again, according to Reuters. Kaplan is a voting member of the Fed’s policy committee this year. Consumer price inflation has been soft since March, but the Fed went ahead and moved rates up a quarter-point this week, the third increase in the last seven months.

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Oil prices rose Friday to recoup their losses from a day earlier, but still finished the week more than 2% lower on continued concerns that U.S. production will offset efforts by other crude producers to lower global supplies. July West Texas Intermediate crude added 28 cents, or 0.6%, to settle at $44.74 a barrel on the New York Mercantile Exchange. Prices lost about 2.4% for the week.

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Gold edged higher Friday, rebounding a bit from the three-week low it reached a day earlier. Prices still finished the week with a loss of more than 1% in the wake of the U.S. Federal Reserve’s decision Wednesday to increase interest rates, as expected. August gold rose $1.90, or 0.2%, to settle at $1,256.50 an ounce. The metal tallied its second-weekly decline in a row.

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Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil climbed by 6 to 747 rigs this week. That marked a 22nd weekly rise in a row. The total active U.S. rig count, which includes oil and natural-gas rigs, climbed by 6 to 933, according to Baker Hughes. Oil prices showed little reaction to the data, with July West Texas Intermediate crude up 19 cents, or 0.4%, at $44.65 a barrel on the New York Mercantile Exchange, unchanged from the levels it traded at before the data.

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