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European Equities Traded in the US as American Depositary Receipts Rise in Wednesday Trading

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European equities traded in the US as American depositary receipts were tracking higher late Wednesday morning, rising 0.68% to 1,973.64 on the S&P Europe Select ADR Index.

From continental Europe, the gainers were led by biotech firm BioNTech (BNTX) and biopharmaceutical company Grifols (GRFS), which advanced 24% and 5.6% respectively. They were followed by semiconductor company Sequans Communications (SQNS) and biopharmaceutical company argenx (ARGX), which rose 3.3% and 3% respectively.

The decliners from continental Europe were led by internet browser company Opera (OPRA) and biotech firm Evaxion (EVAX), which fell 7.9% and 6% respectively. They were followed by accommodations booking site Trivago (TRVG) and telecommunications company Nokia (NOK), which were down 4.3% and 1.6% respectively.

The gainers from the UK were led by biotech firm Autolus Therapeutics (AUTL) and mining company BHP Group (BHP), which increased 9.2% and 4.5% respectively. They were followed by software firm Endava (DAVA) and biopharmaceutical company Bicycle Therapeutics (BCYC), which were up 4% and 3.4% respectively.

The decliners from the UK and Ireland were led by biotech firm Trinity Biotech (TRIB) and biopharmaceutical company Biodexa Pharmaceuticals (BDRX), which dropped 3.5% and 1.9% respectively. They were followed by insurance company Prudential (PUK) and medical device maker Smith & Nephew (SNN), which lost 1.3% and 1.1% respectively.

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Update: Technology Leads US Equity Indexes Lower as 30-Year Yield Touches 19-Year High, Crude Oil Extends Gains

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes declined, with chipmakers helping drive technology to the bottom of sector charts, after the 30-year government bond yield touched levels last seen around the 2007 global financial crisis and crude oil prices continued to march higher.The Nasdaq Composite dropped 1.3% to 26,289.71, and the S&P 500 declined 0.7% to 7,691.76 on Tuesday. The Dow Jones Industrial Average slipped 0.2% to 53,343.40. Technology and industrials led decliners. Energy, healthcare and consumer staples topped the gainers.Among companies with market capitalizations exceeding $200 billion each, nine of the top 10 decliners were from the technology sector, according to data compiled by Finviz. Of those nine firms, seven were related to the semiconductor industry. The leader of the pack was Sandisk (SNDK), down 9.2%.US Treasury yields retreated after midday. The 30-year yield fell 2.6 basis points to 5.28% after touching 5.34% intraday, the highest since 2007.The increase in the 30-year yield to a 19-year high comes amid concerns that an imminent escalation in the Middle East sent Brent crude prices above $90 a barrel and will fan fears of inflation, according to a D.A. Davidson research note Tuesday.The household saving rate has plummeted to 2.7% from 6.4% in early 2024, and the housing wealth effect is negative for the middle bulge given falling real house prices, Derek Holt, head of capital market economics at Scotiabank, said in a note Tuesday."When you've got no growth in inflation-adjusted disposable income in the US, and you hit them with higher energy costs, the case for absorption is higher than the case for pass through," Holt said in the note.The front-month US West Texas Intermediate crude oil contract rose 0.8% to $85.18 per barrel, and global benchmark North Sea Brent edged up 0.3% to $91.15 per barrel a day after the deadline to reach a permanent peace deal with Iran expired."There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran," President Trump posted on his social media platform. The Strait of Hormuz will remain closed until the US meets the conditions of an interim deal signed with Iran in June, Reuters reported Tuesday, citing Iran's negotiator Mohammad Baqer Qalibaf in state media.On the same day, Trump posted an image that showed the Strait of Hormuz as "New U.S. Territory." More than 80% of vessel transits through the Strait of Hormuz over the past two weeks have taken the Omani route - a UN-authorized shipping channel that Iran vehemently opposes - according to Kpler, which tracks ships using transponders and satellite data, CNN reported.Gold futures dropped 1.8% to $4,392.70, and silver futures slumped 4% to $63.57.In economic news, US housing starts plunged 12% sequentially to a seasonally adjusted rate of 1.24 million units last month, the Census Bureau and the Department of Housing and Urban Development said. The consensus was for 1.35 million in a Bloomberg-compiled survey.In company news, ExxonMobil (XOM) remains committed to growing Permian volumes, with a new 20-year integrated midstream agreement with Targa Resources (TRGP) supporting its long-term growth targets, UBS Securities said in a note Monday. Shares of Targa jumped 7.1%, the top gainer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$SNDK$TRGP$XOM
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Update: Technology Pushes US Equity Indexes Lower as 30-Year Yield Touches 19-Year High, Crude Oil Rises

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Dow JonesNasdaq CompositeS&P 500$TRGA$XOM
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Exchange-Traded Funds Lower as US Equities Decline After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV fell. Actively traded Invesco QQQ Trust (QQQ) declined 1.4%.US equity indexes fell after midday Tuesday amid rising crude oil prices, while the 30-year government bond yield hovered close to levels seen around the 2007 global financial crisis.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each rose about 1.3%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) shed 2.5%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) also declined.The State Street SPDR S&P Semiconductor (XSD) shed 6%, and iShares Semiconductor (SOXX) was down 5.5%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) advanced 1.2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 1.2%.CommoditiesCrude oil rose 0.7%, and the United States Oil Fund (USO) added 0.4%. Natural gas gained 1.1%, and the United States Natural Gas Fund (UNG) was up 1.6%.Gold on Comex fell 1.2%, and the State Street SPDR Gold Shares (GLD) was down 1.3%. Silver slipped 3.4%, and iShares Silver Trust (SLV) was down 3.1%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) was up 1.4%. The Vanguard Consumer Staples ETF (VDC) added 1.2%, and iShares Dow Jones US Consumer Goods (IYK) rose 1.3%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was up 0.6%. VanEck Retail ETF (RTH) added 0.8%, and the State Street SPDR S&P Retail (XRT) rose 0.6%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) added 1.7%. iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were higher as well. IShares Biotechnology ETF (IBB) climbed up 0.8%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) shed 1.2%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also in the red.CryptocurrencyIn midday activity, bitcoin (BTC-USD) rose 0.6%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) added 0.7%, ProShares Ether ETF (EETH) was up 0.5%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was down 0.2%.

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