U.S. stocks are hanging around their records as Wall Street heads toward the finish of another winning week. The S&P 500 edged down by 0.1% Friday from the all-time high it set the day before. The Dow Jones Industrial Average added 86 points and was flirting with its own record set in December. The Nasdaq composite slipped 0.2%. UnitedHealth Group's stock jumped after Warren Buffett’s Berkshire Hathaway said it bought nearly 5 million shares of the insurer in the spring, while Applied Materials slumped on worries about its business in China. Treasury yields held relatively steady following mixed reports on the U.S. economy.
Indian Prime Minister Narendra Modi has warned Pakistan that India will punish its archrival neighbor if there are future attacks on India. Modi made the remarks Friday while marking 78 years of India's independence from British colonial rule. Modi says India has now established a new normal that does not differentiate between terrorists and those who support terrorism. Modi says he will tolerate what he calls Islamabad’s “nuclear blackmail.” India and Pakistan exchanged tit-for-tat military strikes in May that brought the nuclear-armed rivals to the brink of war. The strikes followed an April gun massacre in Kashmir that India blamed on Pakistan. Pakistan denied responsibility.
President Donald Trump is flying to Alaska and a high-stakes summit with Russian President Vladimir Putin at a U.S. military base. Friday’s meeting could influence the war in Ukraine and European security. The Republican U.S. president aims to showcase his skills as a dealmaker. Trump says his talks with Putin will include Russian demands Ukraine cede territory as part of a peace deal. For Putin, the meeting is a chance to negotiate terms that favor Russia. The summit excludes Ukrainian President Volodymyr Zelenskyy, which could undermine Ukraine's interests. Trump has expressed hopes for a broader peace deal, but success is uncertain. The meeting's outcome could have significant implications for international relations and U.S. diplomacy.
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