Menu
SECTIONS
Iran war Russia-Ukraine war Español China Asia Pacific Latin America Europe Africa
TOP STORIES
- US reimposes blockade and steps up strikes as Iran threatens to halt Mideast energy exports
- UK police say former politician and TV personality Ann Widdecombe was killed in ‘targeted attack’
- Caribbean leaders press for slavery reparations, end of islands' territorial status
Newsletters
The Morning Wire\ \ Our flagship newsletter breaks down the biggest headlines of the day. The Afternoon Wire\ \ Get caught up on what you may have missed throughout the day.
SECTIONS
Immigration Weather Education Transportation Abortion LGBTQ+ Notable Deaths America at 250
TOP STORIES
- Trump administration orders ICE to suspend most vehicle stops after 2 deadly shootings
- Man fleeing immigration officers in Florida is struck and killed by tractor trailer, police say
- E. Jean Carroll is paid $5.6 million in Trump sex abuse and defamation case
Newsletters
The Morning Wire\ \ Our flagship newsletter breaks down the biggest headlines of the day.
AP QUIZZES
Test Your News I.Q. — take our weekly quiz
SECTIONS
2026 Elections Election Results Election calendar White House Congress Supreme Court The latest AP-NORC polls
TOP STORIES
- House passes bill to 'ditch the switch' and make daylight saving time permanent
- ICE should keep making traffic stops despite recent shootings, Trump says
- Bipartisan group of senators introduces legislation to avert looming Social Security shortfall
Newsletters
Ground Game\ \ Your guide to the biggest stories in politics, policy and U.S. elections.
SECTIONS
FIFA World Cup NFL MLB WNBA Tennis NBA Golf NHL
TOP STORIES
- Spain shuts down France and Kylian Mbappé, advances to the World Cup final with a 2-0 victory
- Lamine Yamal didn't score, but a sneaky play helped Spain beat France in the World Cup semifinals
- Kylian Mbappé denied a 3rd straight World Cup final but remains in Golden Boot mix with Messi
Newsletters
The Sports Wire\ \ Your home base for in-depth reporting from the world of sports.
SECTIONS
Movies Fashion Television Celebrity Interviews Music Books
TOP STORIES
- A look inside Christopher Nolan’s ‘The Odyssey’ by the numbers
- Movie Review: In Christopher Nolan's 'The Odyssey,' an ancient epic is reborn
- Duchess of Sussex earns a Daytime Emmy nomination for Netflix's 'With Love, Meghan'
Newsletters
SECTIONS
Tariffs Inflation Financial Markets Financial Wellness Technology
TOP STORIES
-
Subaru issues recall for 541,000 SUVs over label with incorrect weight rating
-
Buffett omits gift to Bill Gates' foundation after Microsoft cofounder's Epstein ties disclosed
-
26 Meta employees sue, alleging AI-driven layoff picks hit workers on medical and parental leave
SECTIONS
Space Animals The Ancient World Climate Medicine
TOP STORIES
-
Mystery bidder buys T. rex nicknamed 'Gus' for a record $50 million
-
Faint new planet is revealed around a young star after a decade in hiding
TOP STORIES
-
Raccoon goes on drunken rampage in Virginia liquor store and passes out on bathroom floor
-
Viral phenomenon in Argentina has young people identifying themselves as animals
-
Chicken wings advertised as 'boneless' can have bones, Ohio Supreme Court decides
-
Fatou, the world's oldest gorilla living in captivity, celebrates her 69th birthday at Berlin Zoo
-
Ghana's fantasy coffins are a colorful celebration of life and legacy
-
Lettuce introduce you to the live frog found in this grocery store salad bag
SECTIONS
Trending Better health At home Working well For the climate Eating well
TOP STORIES
-
How to stay safe and still enjoy produce this summer with the outbreak of diarrhea-causing parasite
-
What injured athletes can teach us about recovery and resilience
-
Why losing weight isn't just about counting calories — and what to do about it
SECTIONS
TOP STORIES
- How this photographer's second camera caught a blast of lightning among the fireworks
- At the Kaaba during Hajj, a photographer captures sense of unity and devotion
- A photo captures President Trump and first lady awaiting British royals from rare White House angle
Newsletters
SECTIONS
Indigenous peoples and climate Climate Questions Climate Migration India Focus
TOP STORIES
-
No relief from the heat as many US cities will see record overnight temperatures
-
Battery bank or generator? How to choose the best backup power for your home during an outage
-
China’s 'Green Great Wall' tames desert growth, but scientists warn the fight is not over
TOP STORIES
-
As cyclospora illnesses surge to a record, Michigan officials eye lettuce as a possible cause
-
An experimental Alzheimer's drug shows promise targeting a different brain protein, new study shows
-
Study shows a blood test can help identify healthy people at high risk for Alzheimer's disease
-
How to stay safe and still enjoy produce this summer with the outbreak of diarrhea-causing parasite
-
Outbreak of diarrhea-causing parasite grows to more than 1,000 cases
-
Aortic tear blamed in Sen. Lindsey Graham’s sudden death is a fast-killing emergency
SECTIONS
Artificial Intelligence Social Media
TOP STORIES
-
As gas plants rise to power AI, renewable energy allies are fighting for cleaner alternatives
-
Meta appeals landmark jury verdict that found it to blame for social media addiction for young users
-
EU chief weighs age restrictions for children using social media
SECTIONS
Food & Recipes Gardening Fashion Homes Travel Pets
TOP STORIES
-
How Americans feel about changing the clocks, according to a new AP-NORC poll
-
What injured athletes can teach us about recovery and resilience
TOP STORIES
- Tai chi practitioners seek balance and well-being in fast-paced Beijing
- Support for Israel isn't a high priority for younger Jewish Americans, an AP-NORC poll finds
- New AP-NORC poll reveals sharp divides among US Jews over Israel and Gaza
Newsletters
World of Faith\ \ Comprehensive global coverage of how religion shapes our world.
SECTIONS
Política de EEUU Deportes Mundial de Fútbol FIFA
TOP STORIES
-
Empleados demandan a Meta; arguyen que despidos por IA afectaron licencias médicas y de paternidad
-
EEUU restablece bloqueo de puertos iraníes tras ataques de Irán contra barcos en estrecho de Ormuz
-
Parlamento israelí aprueba leyes para blindar la exención militar de ultraortodoxos
-
MORE
Search Query Submit Search
Show Search Menu
Submit Search
Menu
SECTIONS
Iran war Russia-Ukraine war Español China Asia Pacific Latin America Europe Africa
TOP STORIES
- US reimposes blockade and steps up strikes as Iran threatens to halt Mideast energy exports
- UK police say former politician and TV personality Ann Widdecombe was killed in ‘targeted attack’
- Caribbean leaders press for slavery reparations, end of islands' territorial status
Newsletters
The Morning Wire\ \ Our flagship newsletter breaks down the biggest headlines of the day. The Afternoon Wire\ \ Get caught up on what you may have missed throughout the day.
SECTIONS
Immigration Weather Education Transportation Abortion LGBTQ+ Notable Deaths America at 250
TOP STORIES
- Trump administration orders ICE to suspend most vehicle stops after 2 deadly shootings
- Man fleeing immigration officers in Florida is struck and killed by tractor trailer, police say
- E. Jean Carroll is paid $5.6 million in Trump sex abuse and defamation case
Newsletters
The Morning Wire\ \ Our flagship newsletter breaks down the biggest headlines of the day.
AP QUIZZES
Test Your News I.Q. — take our weekly quiz
SECTIONS
2026 Elections Election Results Election calendar White House Congress Supreme Court The latest AP-NORC polls
TOP STORIES
- House passes bill to 'ditch the switch' and make daylight saving time permanent
- ICE should keep making traffic stops despite recent shootings, Trump says
- Bipartisan group of senators introduces legislation to avert looming Social Security shortfall
Newsletters
Ground Game\ \ Your guide to the biggest stories in politics, policy and U.S. elections.
SECTIONS
FIFA World Cup NFL MLB WNBA Tennis NBA Golf NHL
TOP STORIES
- Spain shuts down France and Kylian Mbappé, advances to the World Cup final with a 2-0 victory
- Lamine Yamal didn't score, but a sneaky play helped Spain beat France in the World Cup semifinals
- Kylian Mbappé denied a 3rd straight World Cup final but remains in Golden Boot mix with Messi
Newsletters
The Sports Wire\ \ Your home base for in-depth reporting from the world of sports.
SECTIONS
Movies Fashion Television Celebrity Interviews Music Books
TOP STORIES
- A look inside Christopher Nolan’s ‘The Odyssey’ by the numbers
- Movie Review: In Christopher Nolan's 'The Odyssey,' an ancient epic is reborn
- Duchess of Sussex earns a Daytime Emmy nomination for Netflix's 'With Love, Meghan'
Newsletters
SECTIONS
Tariffs Inflation Financial Markets Financial Wellness Technology
TOP STORIES
-
Subaru issues recall for 541,000 SUVs over label with incorrect weight rating
-
Buffett omits gift to Bill Gates' foundation after Microsoft cofounder's Epstein ties disclosed
-
26 Meta employees sue, alleging AI-driven layoff picks hit workers on medical and parental leave
SECTIONS
Space Animals The Ancient World Climate Medicine
TOP STORIES
-
Mystery bidder buys T. rex nicknamed 'Gus' for a record $50 million
-
Faint new planet is revealed around a young star after a decade in hiding
TOP STORIES
-
Raccoon goes on drunken rampage in Virginia liquor store and passes out on bathroom floor
-
Viral phenomenon in Argentina has young people identifying themselves as animals
-
Chicken wings advertised as 'boneless' can have bones, Ohio Supreme Court decides
-
Fatou, the world's oldest gorilla living in captivity, celebrates her 69th birthday at Berlin Zoo
-
Ghana's fantasy coffins are a colorful celebration of life and legacy
-
Lettuce introduce you to the live frog found in this grocery store salad bag
SECTIONS
Trending Better health At home Working well For the climate Eating well
TOP STORIES
-
How to stay safe and still enjoy produce this summer with the outbreak of diarrhea-causing parasite
-
What injured athletes can teach us about recovery and resilience
-
Why losing weight isn't just about counting calories — and what to do about it
SECTIONS
TOP STORIES
- How this photographer's second camera caught a blast of lightning among the fireworks
- At the Kaaba during Hajj, a photographer captures sense of unity and devotion
- A photo captures President Trump and first lady awaiting British royals from rare White House angle
Newsletters
SECTIONS
Indigenous peoples and climate Climate Questions Climate Migration India Focus
TOP STORIES
-
No relief from the heat as many US cities will see record overnight temperatures
-
Battery bank or generator? How to choose the best backup power for your home during an outage
-
China’s 'Green Great Wall' tames desert growth, but scientists warn the fight is not over
TOP STORIES
-
As cyclospora illnesses surge to a record, Michigan officials eye lettuce as a possible cause
-
An experimental Alzheimer's drug shows promise targeting a different brain protein, new study shows
-
Study shows a blood test can help identify healthy people at high risk for Alzheimer's disease
-
How to stay safe and still enjoy produce this summer with the outbreak of diarrhea-causing parasite
-
Outbreak of diarrhea-causing parasite grows to more than 1,000 cases
-
Aortic tear blamed in Sen. Lindsey Graham’s sudden death is a fast-killing emergency
SECTIONS
Artificial Intelligence Social Media
TOP STORIES
-
As gas plants rise to power AI, renewable energy allies are fighting for cleaner alternatives
-
Meta appeals landmark jury verdict that found it to blame for social media addiction for young users
-
EU chief weighs age restrictions for children using social media
SECTIONS
Food & Recipes Gardening Fashion Homes Travel Pets
TOP STORIES
-
How Americans feel about changing the clocks, according to a new AP-NORC poll
-
What injured athletes can teach us about recovery and resilience
TOP STORIES
- Tai chi practitioners seek balance and well-being in fast-paced Beijing
- Support for Israel isn't a high priority for younger Jewish Americans, an AP-NORC poll finds
- New AP-NORC poll reveals sharp divides among US Jews over Israel and Gaza
Newsletters
World of Faith\ \ Comprehensive global coverage of how religion shapes our world.
SECTIONS
Política de EEUU Deportes Mundial de Fútbol FIFA
TOP STORIES
-
Empleados demandan a Meta; arguyen que despidos por IA afectaron licencias médicas y de paternidad
-
EEUU restablece bloqueo de puertos iraníes tras ataques de Irán contra barcos en estrecho de Ormuz
-
Parlamento israelí aprueba leyes para blindar la exención militar de ultraortodoxos
-
MORE
Search Query Submit Search
Show Search Menu
Submit Search
Stocks drift on Wall Street as oil prices swing
Traders Chris Lagana, left, and Michael Capolino work on the floor of the New York Stock Exchange, Thursday, June 25, 2026. (AP Photo/Richard Drew)
By STAN CHOE
Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year]
Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. Share
Share
- Copy
Link copied
NEW YORK (AP) — U.S. stocks are drifting Wednesday following strong profit reports from BlackRock and other big companies and an update on the path of inflation.
The S&P 500 was mostly unchanged. Stocks were nearly evenly split between gainers and losers in the index. The Dow Jones Industrial Average was up 43 points, or 0.1%, as of 1:05 p.m. Eastern time, and the Nasdaq composite rose 0.1%.
BlackRock surged 7.2% after the company behind some of the most popular investment funds reported stronger profit and revenue for the latest quarter than analysts expected. CEO Laurence Fink said its iShares funds topped $6 trillion in assets under management during the quarter, roughly doubling in three years.
AP AUDIO: Stocks drift higher on Wall Street as oil prices swing
U.S. stocks are drifting higher in early trading.
Bank of New York Mellon rose 2.9% after adding to the spate of strong earnings reports from many of the biggest U.S. banks a day earlier. Cintas climbed 4.4% after the provider of office uniforms, restroom supplies and other products likewise delivered a better profit for the latest quarter than analysts forecast.
They helped offset a drop for Elevance Health, which fell 8.3% even though it reported stronger profit and revenue than analysts expected.
Several big technology companies fell sharply, weighing down the market and offsetting gains elsewhere. Nvidia fell 2.2% and Micron Technology slumped 9.3%.
Expectations are high for U.S. companies’ profit growth during the spring. They’ll need to beat them to justify the big moves their stock prices have made, with indexes near their records.
Another report showed inflation slowed last month. This one said inflation at the wholesale level slowed to 5.5% from 6% in May, and it was much better than the acceleration that economists expected.
Read More
The day before, a separate report said that inflation that U.S. consumers are feeling was also not as bad as economists expected last month.
Such numbers take pressure off the Federal Reserve, which is considering raising interest rates. Higher rates would keep a lid on inflation, but they also slow the economy and hurt prices for all kinds of investments.
Following the inflation report, traders see just a 12% chance that the Fed will raise its main interest rate at its next meeting in a couple weeks. That’s down from the nearly 42% probability they saw on Monday, before the inflation reports, according to data from CME Group.
Also helping to pull down expectations was a speech from John Williams, president of the New York Fed. He said that “there are encouraging reasons to expect that inflation has peaked and should edge down in coming quarters.”
Sign up for Morning Wire: Our flagship newsletter breaks down the biggest headlines of the day.
Email address
Sign up
By checking this box, you agree to AP's Terms of Use and acknowledge that AP may collect and use your data pursuant to our Privacy Policy.
That helped send the yield on the 10-year Treasury down to 4.55% from 4.58% late Tuesday and from 4.62% the day before.
Still, upward pressure on inflation remains because of the war with Iran, which has seen days of back-and-forth strikes by the United States and Iran across the Middle East.
Iran’s Revolutionary Guard threatened Wednesday to halt all energy exports from the Middle East because of the U.S. military’s blockade to prevent tankers carrying Iranian oil from using the Strait of Hormuz.
“The export of oil and gas from the region will be either for everyone or for no one,” the Revolutionary Guard said.
Oil prices swung near their highest levels in a month because of the war with Iran. The price for a barrel of Brent crude briefly topped $86 in the morning before falling back to $84.93 per barrel, up 0.2% from the day before.
In stock markets abroad, technology stocks helped lead the way as winners of the artificial-intelligence boom gathered more strength following several shaky weeks.
In Asia, South Korea’s Kospi index jumped 6.2%. Its market is dominated by two huge tech companies, Samsung Electronics and SK Hynix, and the index has already had drops of 8.9%, 7.9% and 5.3% so far this month.
In Amsterdam, ASML reported stronger revenue growth for the latest quarter than the bellwether of the chipmaking industry had forecast. CEO Christophe Fouquet said continuing progress in the AI boom has customers accelerating their expansions, and the maker of chipmaking machinery gave a forecast for revenue growth in the summer that topped analysts’ expectations.
The strength helped calm some of the worries that have sent AI-related stocks spinning recently. Chief among them is the possibility that their prices shot too high in the euphoria around AI. Worries have been rising that surging demand for AI chips and data centers may fizzle if they don’t produce enough profits and productivity to make all the investments worth it.
In China, stocks rose 1.4% in Hong Kong but fell 0.3% in Shanghai after the government said the world’s second-largest economy expanded at a 4.3% annualized pace last quarter, down from the 5% growth rate at the start of the year.
\\\_
AP Business Writers Yuri Kageyama and Matt Ott contributed to this report.
Read Original at AP News →