Stocks rise after hitting record highs, peak energy prices



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US stocks rose after the S & P 500 on Thursday closed a record high. Treasury yields stabilized and energy prices rose amid geopolitical anguish.

<p class = "canvas-atam canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The S & P 500^ GSPC) rose 0.24%, or 6.98 points, from 11.10 ET and hit a new all-time high intraday of 2,964.14 points, jumping above the all-time high intraday record on Thursday. The Dow (^ DJI) increased 0.5%, or 132.72 points, while the Nasdaq (^ IXIC) rose 0.21%, or 14.96 points. OS & P 500 (^ GSPC) rose 0.24%, or 6.98 points, from 11:10 ET and hit a new all-time intraday high of 2,964.14 points , jumping above the intraday high daily record of Thursday. The Dow (^ DJI) rose 0.5%, or 132.72 points, while the Nasdaq (^ IXIC) rose 0.21%, or 14.96 points .

Shares were lower this week amid signs of looser monetary policy by the US Federal Reserve, Bank of England and Bank of Japan.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Treasury yields increased Friday, recovering slightly as a buying spree of traders earlier in the week cooled The yield of 10 years (^ TNX) rose 2.6 basis points to 2.037% after falling below 2% for the first time since November 2016 on Thursday. Yields move inversely to prices. "Treasury yields rose on Friday, recovering slightly as the traders' buying wave cooled earlier in the week. The 10-year yield (TNX) rose 2.6 points- base to 2.037% after breaking below 2% for the first time since November 2016. Yields move inversely to prices.

<p class = "canvas-atomo canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Sixth last trading session before S & amp; ; P Dow Jones Indices implements its & nbsp;quarterly rebalancing& nbsp; of the S & P 500. This involves an adjustment in the representation of the 500 companies that make up the S & P 500 and will affect the ETFs and other funds that accompany the index. Index adjustments tend to drive higher trading volumes as portfolio managers shift their holdings to align with the rebalanced index. The rebalancing takes effect on the market on June 24. "Friday marks the last trading session before the S & P Dow Jones Indexes implement its quarterly rebalancing of the S & P 500. This involves an adjustment in the representation of the 500 companies that make up the S & P 500 will affect traded funds (ETFs) and other funds that track the index. Adjusting the index tends to increase traded volumes as portfolio managers shift their holdings to align to the rebalanced index. June 24.

In addition, Friday will see the simultaneous maturing of futures contracts and options on stock indices, stock options and stock futures. This quarterly event – also called "quadruple witching" – also tends to increase trading volumes and volatility.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Meanwhile, gasoline futuresRB = F) rose more than 3.5 percent after blasts and large fires occurred at Pennsylvania's largest oil refinery. The fire, which originated from a butane keg at Philadelphia Energy Solutions, was contained, but was not under control until Friday morning, according to & nbsp;multiple& nbsp;reportsMeanwhile, gasoline futures (RB = F) rose more than 3.5 percent after explosions and large fires broke out at Pennsylvania's largest oil refinery. The fire, which originated from a butane tank at Philadelphia Energy Solutions, was contained, but not under control until Friday morning, according to several reports.

Traders work on the main floor following the opening of the trading session on the New York Stock Exchange (NYSE) in New York, USA, on June 20, 2019. REUTERS / Brendan McDermid

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Oil prices also continued to rise on Friday amid escalating tensions between the US and Iran. President Donald Trump ordered military strikes against Iran before reneging, & nbsp;according to the New York TimesAfter Tehran knocked down a US drone on Thursday, oil prices also continued to rise on Friday amid escalating tensions between the US and Iran. President Donald Trump ordered military attacks on Iran before renege it. The New York Times, after Tehran knocked down an American drone on Thursday.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Friday morning, Trump wrote in a & nbsp;Twitter post series& nbsp; that he stopped the strike shortly before he started, and that he "was in no hurry" to increase tensions with Iran. "Friday morning, Trump wrote in a Twitter post series that he stopped the strike shortly before he started, and that he "was in no hurry" to increase tensions with Iran.

<p class = "canvas-atom screen text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Futures for national crude oilCL = F) rose 0.14% to $ 57.15 a barrel on Friday, adding gains of more than 5% during Thursday's session. Brent crude oil prices (BZ = F), the international benchmark, rose 0.7% to $ 64.90 per barrel. (CL = F) rose 0.14% to $ 57.15 a barrel Friday, adding gains of more than 5% during Thursday's session. , Brent crude (BZ = F), international benchmark, rose 0.7% to $ 64.90 a barrel.

ECONOMY

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "A measure of US business growth fell to the level lower in more than three years, as activity in the manufacturing and service sectors has eased. & nbsp;IHS Markit& nbsp; US manufacturing manufacturing managers' index (PMI) fell to 50.1 in its June reading, a nearly 10-year low. This was below the May reading of 50.5 and consensus expectations for reading remain unchanged from May to June. A measure of US business growth fell to the lowest level in more than three years The IHS Markit Purchasing Managers' Index (PMI) dropped to 50.1 in its June reading , a near low of 10 years, below the reading of May 50.5, and consensus expectations for reading remain unchanged from May to June.

Meanwhile, PMI services PMI Markit fell to 50.7 in June, falling from 50.9 in May and below expectations compared to consensus expectations. PMI's June service activity was the lowest reading in 40 months. In total, the US compound PMI recorded 50.6, the lowest level in nearly three and a half years.

STOCKS

<p class = "canvas-atom screen text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Canopy Growth Corporation (CGC, WEED.TO) reported quarterly adjusted losses and gross margins that did not meet consensus expectations. "data-reactid =" 40 ">Canopy Growth Corporation (CGC, WEED.TO) reported quarterly adjusted losses and gross margins that did not meet consensus expectations.

The world's largest marijuana company reported quarterly pre-interest, tax, depreciation and amortization losses of $ 98 million, or about $ 74 million, against a loss of $ 64 million, according to Bloomberg data. The adjusted gross margin – a measure closely watched as investors see signs of profitability for the nascent industry – hired to 16% in the quarter ended March 31. This was below consensus expectations to 24%. In the top line, revenue of $ 94 million exceeded expectations of $ 92 million.

<p class = "canvas-atom screen text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Red Hat (RHT), an open source enterprise software vendor, reported first-quarter results that came well above consensus expectations. Adjusted earnings per share of $ 1.00 exceeded consensus estimates by 14 cents, while revenue of $ 934.1 million was slightly above expectations. Subscription revenue grew to $ 815 million, an increase of 15% over last year. IBM (IBM) is set to acquire Red Hat in a $ 34 billion deal, both companies & nbsp;announced in October."data-reactid =" 46 ">Red Hat (RHT), an open source enterprise software vendor, reported first-quarter results that came well above consensus expectations. Adjusted earnings per share of $ 1.00 exceeded consensus estimates by 14 cents, while revenue of $ 934.1 million was slightly above expectations. Subscription revenue grew to $ 815 million, an increase of 15% over last year. IBM (IBM) is expected to acquire Red Hat in a $ 34 billion deal, the two companies announced in October.

<p class = "canvas-atom screen text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck"data-reactid =" 48 ">Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck

<p class = "canvas-atom screen text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Read more about Emily:"data-reactid =" 49 ">Read more about Emily:

<p class = "canvas-atom screen text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedInand reddit."data-reactid =" 56 ">Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedInand reddit.

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