Stocks mixed as market shakes off rising tension with Iran The major averages had a mixed session, with the Dow seeing mild gains and the S&P and Nasdaq pulling back a bit, after President Trump reportedly approved a military strike against Iranian targets last night but then is said to have pulled back at the last minute. While indications of rising tensions with Iran dominated today's headlines, stocks finished the week with solid gains, powered by the signaling of more accommodation from both the Fed and ECB along with President Trump’s agreement to meet with China's President Xi at the upcoming G20 meeting to talk trade. ECONOMIC EVENTS: In the U.S., Markit's PMI dipped 0.4 ticks to 50.1 in the preliminary reading for June. Existing home sales bounced 2.5% to a 5.34M rate in May, beating estimates. Also, in comments posted on the Minneapolis Fed website, Fed President Neel Kashkari admitted he advocated for a 50 basis point easing at this week's FOMC and wanted a commitment not to raise rates again until the core rate reached 2%. In Japan, the flash manufacturing PMI for June slipped to 49.5 from 49.8 in May while the CPI numbers for May were largely in-line with expectations. In Europe, the flash manufacturing PMI for June missed expectations at 47.8 while the services figure of 53.4 was a bit better than expected. TOP NEWS: Shares of AMD (AMD) dipped 3% after the U.S. added a joint venture partner of the company in China to a blacklist. The Bureau of Industry and Security added five Chinese companies to its Export Administration Regulations list that "have been determined by the U.S. Government to be acting contrary to the national security or foreign policy interests of the U.S." The additions to the list include Sugon, Wuxi Jiangnan Institute, Chengdu Haiguang Integrated Circuit, Chengdu Haiguang Microelectronics and Higon, the last of which has a joint venture with AMD. A fire was still burning at an oil refinery in Pennsylvania on Friday afternoon after a series of explosions were reported at the Philadelphia Energy Solutions refinery early in the morning, but no major injuries were reported. The South Philadelphia refinery complex, the largest on the East Coast, is owned in part by a joint venture of Energy Transfer (ET) and Carlyle Group (CG). MAJOR MOVERS: Among the noteworthy gainers was CarMax (KMX), which rose 3.2% after reporting Q1 results. Also higher was SeaWorld (SEAS), which gained 3.2% after being upgraded to Buy from Neutral at Goldman Sachs. Among the notable losers was PayPal (PYPL), which slipped 2.2% after the payments firm announced that its chief operating officer will leave the company. Also lower was Sealed Air (SEE), which fell 4.5% after the company announced that its board terminated William Stiehl as Chief Financial Officer for cause relating to the process by which the company selected its independent audit firm. INDEXES: The Dow lost 34.04, or 0.13%, to 26,719.13, the Nasdaq fell 19.63, or 0.24%, to 8,031.71, and the S&P 500 was declined 3.70, or 0.13%, to 2,950.47. Symbols: $AMD $ET $CG $KMX $SEAS $PYPL $SEESource: (thefly.com)