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Kroger ( KR ) gains after lifting annual sales target
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Accenture ( ACN ) falls as new bookings decreased in Q3
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Indexes: Dow up 0.1%; S&P 500 down 0.2%; Nasdaq down 0.5%
(Updates close with volume, stock moves)
By Caroline Valetkevitch
NEW YORK, June 20 (Reuters) - The S&P 500 and Nasdaq
ended lower on Friday, with investors on edge over the
Iran-Israel conflict heading into the weekend, as the U.S.
considers whether to get involved.
Trading was choppy for much of the session. The S&P 500 also
ended lower for the week, while the Nasdaq registered a weekly
gain.
Iran said it would not discuss the future of its nuclear
program while under attack by Israel, as Europe tried to coax
Tehran back into negotiations.
The White House said on Thursday that President Donald Trump
will decide in the next two weeks whether the U.S. will get
involved in the Israel-Iran air war, adding pressure on Tehran
to negotiate.
"Investors are a little bit nervous about buying stocks
right in front of this situation and, more specifically, right
in front of this weekend," said Rick Meckler, a partner at
Cherry Lane Investments in New Vernon, New Jersey.
Israel's attacks have been aimed at suppressing Tehran's
ability to build nuclear weapons. A week into its campaign,
Israel said it had hit dozens of military targets.
Tech-related megacap stocks, including Nvidia ( NVDA ), were
among the biggest negatives on the S&P 500 and Nasdaq.
The Dow Jones Industrial Average rose 35.16 points,
or 0.08%, to 42,206.82, the S&P 500 lost 13.03 points, or
0.22%, to 5,967.84 and the Nasdaq Composite lost 98.86
points, or 0.51%, to 19,447.41.
For the week, the Dow was little changed, the S&P 500 was
down 0.2% and the Nasdaq was up 0.2%.
Friday's volume was higher than the recent average. The day
marked a "triple-witching" event, which is the simultaneous
expiration of stock options, stock index futures, and stock
index options contracts that takes place once every quarter.
U.S. exchanges' volume was 20.91 billion shares, compared
with the 18.06 billion average for the full session over the
last 20 trading days.
Investors also weighed comments from Federal Reserve
officials after the Fed on Wednesday left interest rates
unchanged and Fed Chair Jerome Powell warned inflation could
pick up pace over the summer as Trump's tariffs work their way
to consumers.
Fed Governor Christopher Waller said he felt the inflation
risk from tariffs was small, and that the Fed should cut rates
as soon as its next meeting. Richmond Fed President Tom Barkin
took a more tempered view, saying there was no urgency to cut
rates.
Kroger ( KR ) shares jumped 9.8% after the grocery chain
increased its annual sales growth forecast.
Shares of Accenture ( ACN ) fell 6.9% after the IT services
provider said new bookings decreased in the third quarter.
Declining issues outnumbered advancers by a 1.1-to-1 ratio
on the NYSE. There were 102 new highs and 59 new lows on the
NYSE.
On the Nasdaq, 1,894 stocks rose and 2,651 fell as declining
issues outnumbered advancers by a 1.4-to-1 ratio.
(Additional reporting by Kanchana Chakravarty and Sukriti Gupta
in Bengaluru; Editing by Devika Syamnath and Rod Nickel)