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Emirati Equities Diverge on Uncertainty Over US-Iran Talks

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Stock trading in the United Arab Emirates ended Thursday mixed as investors await clarity on the renewed negotiations between the US and Iran.

At the close of trading, the FTSE ADX General Index inched up 0.092%, while the DFM General Index was down 1.496%.

Iran vowed to attack Gulf energy infrastructure in case of new US attacks, with Iranian Foreign Minister Abbas Araghchi urging Saudi, Qatari, and Turkish counterparts to press US President Donald Trump to avoid such actions, media reports said.

Meanwhile, Iran said that an agreement with Oman was reached for a temporary shipping route through the Strait of Hormuz and that full reopening of the waterway will be based on the US ending the naval blockade of its ports.

"Iran signalled progress toward this goal, announcing that it has reached an agreement with Oman on new shipping arrangements for the strait, with a joint statement on the deal now being prepared," ING said. "The real hinge point now becomes the trajectory of US-Iran discussions, because meaningful progress there is essential before disrupted energy flows can realistically resume."

Back home and on the corporate front, Abu Dhabi Aviation (ADX:ADAVIATION) recorded a marginal year-over-year growth of 0.1% in its first-half attributable profit, with a 28.2% increase in revenue. Its shares closed the session 0.19% in the red.

Over in Dubai, Emirates Central Cooling Systems (DFM:EMPOWER), d/b/a Empower, lost 3.13% at closing despite a record 16.2% growth in net profit for the first six months driven by an increase in its total contracted capacity.

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Update: US Equity Indexes Mixed as Mega-Cap Communication Services, Tech Names Weigh, Strait of Hormuz Safe Route Emerges

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Update: US Equity Indexes Mixed as SpaceX Hits Nasdaq, Deal Reportedly Reached on Proposed Hormuz Route

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Dow JonesNasdaq CompositeS&P 500$AMD$NVDA$SPCX
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Exchange-Traded Funds, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were mixed after midday Wednesday, with the latter up 0.1%. Actively traded Invesco QQQ Trust (QQQ) lost 0.4%.US equity indexes traded mixed amid a sharp sell-off in communication services and reports that Iran and Oman have agreed on a proposed shipping route through the Strait of Hormuz.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each lost 1.8%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 0.1%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) dropped 0.3% each.The State Street SPDR S&P Semiconductor (XSD) was down 2.3%, and iShares Semiconductor (SOXX) fell 1.1%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) advanced 0.6%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 0.7%.CommoditiesCrude oil declined 1.3%, and the United States Oil Fund (USO) fell 1.2%. Natural gas gained 0.3%, and the United States Natural Gas Fund (UNG) increased 0.3%.Gold on Comex added 3.6%, and the State Street SPDR Gold Shares (GLD) rose 4%. Silver gained 3.5%, and iShares Silver Trust (SLV) was up 4.3%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) declined 0.1%. The Vanguard Consumer Staples ETF (VDC) slipped 0.3%, and iShares Dow Jones US Consumer Goods (IYK) shed 0.2%.The State Street Consumer Discretionary Select Sector SPDR (XLY) rose 0.2%. VanEck Retail ETF (RTH) dipped 0.2%, and the State Street SPDR S&P Retail (XRT) declined 0.6%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) and iShares US Healthcare (IYH) gained 1% each, while Vanguard Health Care ETF (VHT) added 0.8%. IShares Biotechnology ETF (IBB) was up 0.8%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) rose 0.2%. Vanguard Industrials Index Fund (VIS) was up 0.1% and iShares US Industrials (IYJ) was 0.2% higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) added 0.8%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 0.6%, ProShares Ether ETF (EETH) was up 0.7%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was fractionally higher.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH