Israel and Iran appear to be trying to calm tensions after trading military blows in recent days. Markets aren’t getting the message.
An Israeli strike late Thursday night led to a brief spike in oil prices, rattling investors before the opening bell Friday morning in New York. That added momentum to a pullback in the S&P 500 and Nasdaq Composite that saddled both with their longest daily losing streak in more than a year.
UnitedHealth Group climbed 1.6%, finishing the week up 14% after its earnings beat Wall Street’s expectations. The company is one value stock bought by Scott Duba, chief investment officer at Prime Capital Investment Advisors, in a push toward firms that are more insulated from economic shifts or higher interest rates.
“You sidestep the risk and the froth around the pure AI plays and what happens with the U.S. consumer,” Duba said. “Calling macrocycles is virtually impossible.”
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