US stocks drift to a mixed finish as Wall Street closes another week of modest losses

NEW YORK (AP) — U.S. stocks drifted to a mixed finish on Friday in a quiet return to trading following the Juneteenth holiday.

The S&P 500 fell 0.2% to close out a second straight week of modest losses. The Dow Jones Industrial Average added 35 points, or 0.1%, and the Nasdaq composite fell 0.5%.

Treasury yields also held relatively steady in the bond market after President Donald Trump said he will decide within two weeks whether the U.S. military will get directly involved in Israel’s fighting with Iran. The window offers the possibility of a negotiated settlement over Iran’s nuclear program that could avoid increased fighting.

The conflict has sent oil prices yo-yoing over the last week, which has in turn caused see-saw moves for the U.S. stock market, because of rising and ebbing fears that the war could disrupt the global flow of crude. Iran is a major producer of oil and also sits on the narrow Strait of Hormuz, through which much of the world’s crude passes.

“We’re all waiting on pins and needles to see what happens with the Israel-Iran situation,” said Brian Jacobsen, chief economist at Annex Wealth Management. “These types of situations can stress markets, but often the best way to manage that stress is to just ride through it and not try to trade it.”

On Wall Street, Kroger rose 9.8% after the grocer reported a better profit for the latest quarter than Wall Street had forecast. It also raised its forecast for an underlying measure of revenue for the full year. But while Chief Financial Officer David Kennerley said it’s seeing positive momentum, the company is also still seeing an uncertain overall economic environment.

CarMax climbed 6.6% after the auto dealer reported a stronger profit for the latest quarter than analysts expected. The company said it sold nearly 6% more used autos during the quarter than it did a year earlier.

On the losing end of Wall Street was Smith & Wesson Brands, the maker of guns. It tumbled 19.8% after reporting profit and revenue for the latest quarter that fell just shy of analysts’ expectations.

Chief Financial Officer Deana McPherson said “persistent inflation, high interest rates, and uncertainty caused by tariff concerns” have been hurting sales for firearms, and the company expects demand in its upcoming fiscal year to be similar to this past year’s, depending on how inflation and tariffs play out.

All told, the S&P 500 fell 13.03 points to 5,967.84. The Dow Jones Industrial Average rose 35.16 to 42,206.82, and the Nasdaq composite fell 98.86 to 19,447.41.

A spate of companies has been adjusting or even withdrawing their financial forecasts for 2025 because of all the uncertainty that tariffs are creating for customers and for suppliers. Everyone is waiting to see whether Trump will reach trade deals with other countries that could lower his tariffs on imports, many of which are currently on pause.

It’s not just corporate America that’s waiting. The Federal Reserve has been keeping its main interest rate on hold this year, with its latest such decision coming earlier this week, because it wants to see more data about how much tariffs will grind down on the economy and push up inflation.

In the bond market, Treasury yields held relatively stable. The yield on the 10-year Treasury edged down to 4.37% from 4.38% late Wednesday. The two-year yield, which more closely tracks expectations for what the Fed will do, fell to 3.90% from 3.94%.

In stock markets abroad, indexes were mixed across Europe and Asia.

Tokyo’s Nikkei 225 index slipped 0.2% after Japan reported that its core inflation rate, excluding volatile food prices, rose to 3.7% in May, adding to challenges for Prime Minister Shigeru Ishiba’s government and the central bank.

AP Writer Teresa Cerojano contributed.

The "Fearless Girl" statue stands in front of the New York Stock Exchange, Wednesday, June 18, 2025, in New York. (AP Photo/Yuki Iwamura)

A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, June 20, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)

A person stands in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, June 20, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)

A person waits a traffic signal in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, June 20, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)

People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, June 20, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)

NEW YORK (AP) — Thousands of nurses in three hospital systems in New York City went on strike Monday after negotiations through the weekend failed to yield breakthroughs in their contract disputes.

The strike was taking place at The Mount Sinai Hospital and two of its satellite campuses, with picket lines forming. The other affected hospitals are NewYork-Presbyterian and Montefiore Medical Center in the Bronx.

About 15,000 nurses are involved in the strike, according to New York State Nurses Association.

“After months of bargaining, management refused to make meaningful progress on core issues that nurses have been fighting for: safe staffing for patients, healthcare benefits for nurses, and workplace violence protections,” the union said in a statement issued Monday. “Management at the richest hospitals in New York City are threatening to discontinue or radically cut nurses’ health benefits.”

The strike, which comes during a severe flu season, could potentially force the hospitals to transfer patients, cancel procedures or divert ambulances. It could also put a strain on city hospitals not involved in the contract dispute, as patients avoid the medical centers hit by the strike.

The hospitals involved have been hiring temporary nurses to try and fill the labor gap during the walkout, and said in a statement during negotiations that they would “do whatever is necessary to minimize disruptions.” Montefiore posted a message assuring patients that appointments would be kept.

“NYSNA’s leaders continue to double down on their $3.6 billion in reckless demands, including nearly 40% wage increases, and their troubling proposals like demanding that a nurse not be terminated if found to be compromised by drugs or alcohol while on the job," Montefiore spokesperson Joe Solmonese said Monday after the strike had started. "We remain resolute in our commitment to providing safe and seamless care, regardless of how long the strike may last.”

New York-Presbyterian accused the union of staging a strike to “create disruption,” but said in a statement that it has taken steps to ensure patients receive the care they need.

"We’re ready to keep negotiating a fair and reasonable contract that reflects our respect for our nurses and the critical role they play, and also recognizes the challenging realities of today’s healthcare environment,” the statement said.

The work stoppage is occurring at multiple hospitals simultaneously, but each medical center is negotiating with the union independently. Several other hospitals across the city and in its suburbs reached deals in recent days to avert a possible strike.

The nurses’ demands vary by hospital, but the major issues include staffing levels and workplace safety. The union says hospitals have given nurses unmanageable workloads.

Nurses also want better security measures in the workplace, citing incidents like a an incident last week, when a man with a sharp object barricaded himself in a Brooklyn hospital room and was then killed by police.

The union also wants limitations on hospitals’ use of artificial intelligence.

The nonprofit hospitals involved in the negotiations say they’ve been working to improve staffing levels, but say the union’s demands overall are too costly.

Nurses voted to authorize the strike last month.

Both New York Gov. Kathy Hochul and Mayor Zohran Mamdani had expressed concern about the possibility of the strike. As the strike deadline neared, Mamdani urged both sides to keep negotiating and reach a deal that “both honors our nurses and keeps our hospitals open.”

“Our nurses kept this city alive through its hardest moments. Their value is not negotiable,” Mamdani said.

State Attorney General Letitia James voiced similar support, saying "nurses put their lives on the line every day to keep New Yorkers healthy. They should never be forced to choose between their own safety, their patients’ well-being, and a fair contract.”

The last major nursing strike in the city was only three years ago, in 2023. That work stoppage, at Mount Sinai and Montefiore, was short, lasting three days. It resulted in a deal raising pay 19% over three years at those hospitals.

It also led to promised staffing improvements, though the union and hospitals now disagree about how much progress has been made, or whether the hospitals are retreating from staffing guarantees.

Nurses strike outside New York-Presbyterian Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside New York-Presbyterian Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside New York-Presbyterian Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside New York-Presbyterian Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside New York-Presbyterian Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside Mount Sinai West Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside Mount Sinai West Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside Mount Sinai West Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

Nurses strike outside Mount Sinai West Hospital, Monday, Jan. 12, 2026, in New York. (AP Photo/Yuki Iwamura)

FILE - A medical worker transports a patient at Mount Sinai Hospital, April 1, 2020, in New York. (AP Photo/Mary Altaffer, File)