Stocks

The latest on developments in financial markets (all times local): 9:35 a.m.

When the Federal Reserve cuts interest rates, or even hints that it's about to, investors cheer.

The adjustment stemmed from data provided by Amazon CEO Jeff Bezos in his April letter to shareholders regarding third-party sellers on its platform.

Broadcom's shares fell on Friday, along with those of other chipmakers, after the company lowered revenue guidance for the rest of the year due to trade tensions and a "broad-based" slowdown in general.

U.S. retail sales increased in May and sales for the prior month were revised higher, suggesting a pick-up in consumer spending that could ease fears the economy was slowing down sharply in the second quarter.

Asian shares were mixed Friday as investors weighed a variety of factors, including alleged attacks on two tankers in the strategic Strait of Hormuz and lingering worries about trade conflict between the U.S. and China.

Stocks fell on Friday but still managed a second straight week of gains.

PetSmart’s Chewy made its market debut Friday after shares opened at $36.

U.S. stocks edged higher in early trading Thursday on Wall Street as a spike in oil prices boosted energy stocks following a suspected attack on two oil tankers in the strategic Strait of Hormuz.

Stocks ended modestly lower for the second straight day Wednesday, dragged down by losses in technology companies and banks.

___ Tankers struck near Strait of Hormuz; US blames Iran DUBAI, United Arab Emirates (AP) — The U.S. is blaming Iran for an attack on two oil tankers near the strategic Strait of Hormuz, including one that was set ablaze.

The latest on developments in financial markets (all times local): 9:35 a.m.

The electric car maker asked the U.S. Trade Representative’s office to approve exemptions for Model 3 car computers and center console screens.

Asian stocks were mostly lower on Thursday as activists in Hong Kong vowed to keep protesting an extradition bill they fear would whittle the Chinese territory's legal autonomy.

All three major averages are on pace for their second straight week of gains.

Stocks are veering lower in early trading on Wall Street Wednesday, led by drops in technology companies and banks.

"The timing of our IPO was very much aligned with our president’s tariff wars – the same day," Khosrowshahi said.

___ Businesses showing discontent with Trump's trade policies WASHINGTON (AP) — Business groups, already uncomfortable with Trump's attempts to stem immigration, are struggling to figure out where to stand in the fast-shifting political climate.

The latest on developments in financial markets (all times local): 9:35 a.m.

In economic news, the consumer price index edged up 0.1 percent in May, the cost of food was offset by cheaper gasoline, the government said.