Morning Business Report: Markets react to Iran tensions
Markets opened cautiously Monday after President Donald Trump rejected Iran’s latest peace proposal, calling the offer “totally unacceptable.”
(LILAMAX)- Markets opened cautiously Monday after President Donald Trump rejected Iran’s latest peace proposal, calling the offer “totally unacceptable.”
According to reports from The Wall Street Journal, Iran’s proposal failed to meet U.S. demands involving its nuclear program and stockpile of highly enriched uranium.
The renewed tensions pushed oil prices higher and placed pressure on stocks early in the trading day.
Despite those concerns, stocks recently climbed to record highs after a stronger-than-expected jobs report showed employers added more jobs last month than economists anticipated.
The S&P 500 reached another all-time high following the report, signaling continued resilience in the labor market.
At the same time, new Labor Department data showed the share of American men participating in the workforce has dropped to a record low.
Officials say one in three American men were either unemployed or not actively seeking work in April.
Experts point to several factors behind the decline, including retirements among baby boomers and younger men leaving the workforce because of education, disability or illness.
Recent job growth has also been concentrated in fields traditionally dominated by women, including healthcare and private education.
Meanwhile, Target is attempting to reverse a three-year sales slump by focusing on families and new parents.
The retailer recently introduced “Baby Boutiques” in about 200 stores nationwide.
The expanded sections feature premium baby brands including Uppababy, Stokke and Bugaboo as part of a broader effort to attract more family shoppers.
Geopolitics is also expected to remain a major focus for investors this week as President Trump prepares for a trip to Beijing later this week.
Reports indicate several major business leaders are expected to join the visit, including Nvidia CEO Jensen Huang and Apple CEO Tim Cook.
Trade, tariffs, artificial intelligence and Iran are expected to be key topics during the meetings.
