(The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest updates from IBD and Bloomberg Evening Briefing.)
FYI: U.S. stocks meandered lower in quiet trading Friday as weak economic data and rising tensions in the Middle East added to concerns over growth and trade.
The Dow Jones Industrial Average declined 17 points, or 0.07% , while the S&P 500 lost 0.16% and Nasdaq Composite fell 0.52%. The declines mark a pause in what has otherwise been a strong start to June, and all three indexes are on track for weekly gains. The Dow industrials are up 0.3% this week, while the S&P 500 has risen 0.4% and the Nasdaq is up 0.7%.
After a bruising May during which major indexes lost more than 6%, U.S. stocks have clawed back much of those losses. The recent rally was sparked last week, when Federal Reserve officials signaled in interviews and speeches that they are watching the risks of a sharper-than-expected economic slowdown, a sign the central bank might consider lowering interest rates in coming meetings. This week, gains in shares of energy companies and a batch of soaring initial public offerings also helped boost stock prices.
On Friday, some weak data reignited concerns about economic growth around the world. In the U.S., retail sales, a measure of purchases at stores, restaurants and online, increased less than expected in May. The release is the last major U.S. economic report before a meeting of the Fed’s policy-making committee next week. In China, weak economic data pushed markets in Asia lower and drove investors toward bonds.
Yields on Germany’s 10-year government bonds fell to their lowest level on record at minus 0.262%. However, the yield on 10-year U.S. Treasurys rose to 2.099% from 2.096% Thursday. Yields fall as bond prices rise.
In Europe, the Stoxx 600 was down 0.5%. That followed a downbeat session in Asia, with indexes in China, Korea and Hong Kong lower. However, Japan’s Nikkei climbed 0.4%.
Gold prices hit a 14-month high before paring back slightly, with spot gold up 0.9% at $1,353.84 a troy ounce.
Thursday’s attack boosted fears of a broader military conflict in the Persian Gulf that could disrupt oil shipments. Still, U.S.-traded crude oil rose Friday, up 0.3% to $52.42 in recent trading, building on Thursday’s gains.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-06-14/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/stock-index-futures-edge-lower-after-weak-china-data-2019-06-14/printWSJ:
https://www.wsj.com/articles/stocks-slip-as-middle-east-tensions-boost-haven-assets-11560499874Bloomberg:
https://www.bloomberg.com/news/articles/2019-06-13/asia-stocks-head-for-mixed-start-yields-retreat-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-holds-key-support-as-stock-indexes-rise-for-week/CNBC:
https://www.cnbc.com/2019/06/14/stock-market-middle-east-tensions-weigh-china-data-in-focus.htmlReuters:
https://uk.reuters.com/article/us-usa-stocks/wall-street-drops-as-broadcom-warning-pushes-chip-stocks-lower-idUKKCN1TF1HFU.K:
https://uk.reuters.com/article/uk-britain-stocks/hsbc-exporter-stocks-drag-ftse-100-lower-mid-cap-kier-slumps-idUKKCN1TF0OKEurope:
https://www.reuters.com/article/us-europe-stocks/chipmakers-drive-european-shares-lower-after-broadcom-shock-idUSKCN1TF0ODAsia:
https://www.marketwatch.com/story/asian-markets-mixed-as-global-tensions-rise-on-apparent-oil-tanker-attacks-2019-06-13/printBonds:
https://www.cnbc.com/2019/06/14/us-treasury-yields-continue-to-slide-as-middle-east-tensions-escalate.htmlCurrencies:
https://www.cnbc.com/2019/06/14/forex-market-federal-reserve-meeting-us-china-trade-war-in-focus.htmlOil:
https://www.cnbc.com/2019/06/14/oil-market-middle-east-tanker-attacks-us-iran-tensions-in-focus.htmlGold:
https://www.cnbc.com/2019/06/14/gold-market-fed-rate-cut-expectations-middle-east-tensions-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
