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European Stocks Close Mixed Wednesday; Oil Stocks Surge on Middle East Fighting

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The European stock markets closed mixed in Wednesday trading as investors parsed earnings reports, while oil prices surged amid renewed missile attacks in the Middle East.

Energy and mining stocks led the gainers, while tech stocks and semiconductor companies continued to slump.

The Stoxx Europe 600 declined 0.3%, Germany's DAX 40 was little changed, the FTSE 100 gained 0.3%, France's CAC 40 fell 0.6%, and the Swiss Market Index dropped 0.6%.

In corporate news, Unilever agreed to protect the employment terms and conditions of workers in its European and UK food business for two years after its planned 2027 merger with McCormick (MKC), Reuters reported.

Shares of Unilever fell 0.6% in London.

ING Groep is preparing two significant risk transfer transactions covering about $10 billion of loans to free up capital for new lending, Bloomberg reported.

Shares of the Dutch bank lost 1% in Amsterdam.

Eni plans to increase its 2026 dividend by 5% to 1.1 euros ($1.25), and the company expanded the 2026 share repurchase program to 3.4 billion euros, a 20% increase from the guidance in the previous quarter.

Shares of the Italian oil and gas major surged 7% in Milan.

Rio Tinto reported H1 adjusted earnings of $4.21 per diluted share, up from $2.96 a year earlier, as sales increased.

Shares of the mining company gained 1% in London.

Deutsche Bank reported Q2 earnings of 1.91 billion euros, up from 1.73 billion euros a year earlier. Analysts polled by FactSet expected 1.51 billion euros.

Shares of Deutsche Bank rose 2% in Frankfurt.

UBS Group reported Q2 earnings of $0.87 per diluted share, up from $0.72 a year earlier. Analysts polled by FactSet expected $0.90.

The company plans to buy back $3 billion in shares by the end of Q2 2027 with at least $1 billion to be repurchased over the next three months.

Shares of UBS increased 1% in Zurich.

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Update: US Equity Indexes Mixed as Chipmakers Weigh Ahead of Mag-7 Results, Crude Oil Drops Amid Halt in Middle East Strikes

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes traded mixed as chipmakers pushed technology lower ahead of Microsoft (MSFT) and Meta Platforms' (META) quarterly results and a pause in strikes between Washington and Iran continued.The Dow Jones Industrial Average rose 1% to 52,747.32, with the S&P 500 up 0.2% to 7,428.78 on Tuesday. The tech-heavy Nasdaq Composite fell 0.2% to 24,876.91. Energy and technology led the decliners while healthcare, consumer staples, and materials topped the gainers at the close.Microsoft and Meta, part of the so-called Magnificent-7 stocks known for their sway over indexes, are expected to report earnings after the bell on Wednesday.The VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, slid 3.5% on Tuesday. Among companies with a market capitalization of more than $200 billion, nine of the 10 worst performers were from the semiconductor and semiconductor equipment and materials industries, according to data compiled by Finviz. The steepest decliner in this category was SK Hynix (SKHY), down 9%.Shares of Corning (GLW), a supplier of cover glass to Apple (AAPL), sank 12%, the second-worst performer on the S&P 500, after the company reported Q2 results and set guidance for the next quarter.In geopolitical news, President Donald Trump said talks with Iran were continuing but again threatened to destroy Iranian bridges and power plants if no deal is made, CNN reported. Iran's foreign ministry spokesman, Esmaeil Baghaei, said Tehran was not negotiating with the US but added that "intermediaries may convey messages from the American side to us regarding ongoing developments in the region," Al Jazeera, a Middle East broadcaster, reported.Iran's military said any ships belonging to a country or company that's using frozen Iranian assets will be blocked from transiting the Strait of Hormuz, CNN cited Iranian state media as saying.Iran has rejected Trump's claim that ships damaged by Iran in the Gulf would be compensated from frozen Iranian funds. Iran Revolutionary Guards Corps spokesperson Ebrahim Zolfaghari warned that any vessel taking such money will be banned from transiting the Strait of Hormuz, Al Jazeera reported.Front-month US West Texas Intermediate slumped 4.2% to $79.16 a barrel, and global benchmark North Sea Brent dropped 5% to $83.91 a barrel.US Treasury yields fell, with the 10-year down 3.9 basis points to 4.6% and the two-year lower by 4.6 basis points to 4.28%.In precious metal markets, gold futures fell 1.3% to $4,022.9, and silver futures declined 2.4% to $57.33.In economic news, the Conference Board's measure of consumer confidence decreased to 90.8 in July from 92.2 in June, below the 92.4 expected in a Bloomberg-compiled survey.The Case-Shiller National Home Price Index rose 0.6% in May, after a 0.8% increase in April, before seasonal adjustment. National home prices were up 1.1% year-over-year, up from 0.9% in April.The Dallas Federal Reserve's monthly general business services index rose to 6.6 in July from 2.9 in June, above expectations for a 3.8 reading in a Bloomberg-compiled poll, indicating faster expansion.The Richmond Fed's monthly manufacturing index rose to 5 in July from 4 in June, below expectations for 6 in a Bloomberg-compiled survey.

Dow JonesNasdaq CompositeS&P 500$AAPL$GLW$META$MSFT$SKHY$SMH
Asia Markets

Update: US Equity Indexes Mixed as Chipmakers Restrain Nasdaq, Crude Oil Slides

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes traded mixed, as chipmakers continued to weigh on the Nasdaq Composite and crude oil slumped after a pause in Washington's strikes on Iran appeared to extend.The Dow Jones Industrial Average jumped 1.3% to 52,877.4, with the S&P 500 up 0.4% to 7,442.7 after midday Tuesday. The Nasdaq Composite was little changed at 24,933.8.Energy, technology, and industrials were the sole decliners while consumer staples, healthcare, and materials topped the gainers.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, slumped 3%. Among companies with a market capitalization of more than $200 billion, seven of the 10 worst performers were from the semiconductors and semiconductor equipment and materials industries, according to data compiled by Finviz.Shares of Corning (GLW) sank 16%, the worst performer on the S&P 500, after the company reported Q2 results and set guidance for the next quarter.In geopolitical news, President Donald Trump said talks with Iran were continuing but again threatened to destroy Iranian bridges and power plants if no deal is made, CNN reported. Iran's foreign ministry spokesman, Esmaeil Baghaei, said Tehran was not negotiating with the US but added that "intermediaries may convey messages from the American side to us regarding ongoing developments in the region," Al Jazeera, a Middle East broadcaster, reported.The front-month US West Texas Intermediate slumped 4.7% to $78.71 a barrel, and global benchmark North Sea Brent dropped 5.3% to $83.69 a barrel.US Treasury yields fell, with the 10-year down 4.7 basis points to 4.59% and the two-year lower by 5.9 basis points to 4.26%.In precious metal markets, gold futures fell 1% to $4,038.2, and silver futures declined 1.8% to $57.64.In economic news, the Conference Board's measure of consumer confidence decreased to 90.8 in July from 92.2 in June, below the 92.4 expected in a Bloomberg-compiled survey.The Case-Shiller National Home Price Index rose 0.6% in May, after a 0.8% increase in April, before seasonal adjustment. National home prices were up 1.1% year-over-year, up from 0.9% in April.Further in company news, IQVIA (IQV) reported a year-over-year increase in Q2 adjusted earnings and revenue, and raised its 2026 outlook. Its shares surged 14%, the top gainer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$GLW$IQV$SMH
Asia Markets

Exchange-Traded Funds Rise, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV edged higher. Actively traded Invesco QQQ Trust (QQQ) eased 0.5%.US equity indexes traded mixed, as chipmakers continued to weigh on the Nasdaq Composite.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) fell about 1.4% each.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) shed 1.3%; iShares US Technology ETF (IYW) fell 0.8%, and iShares Expanded Tech Sector ETF (IGM) was down 1%.The State Street SPDR S&P Semiconductor (XSD) slipped 3.9%, and iShares Semiconductor (SOXX) fell 3.9%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 1.1%. Direxion Daily Financial Bull 3X Shares (FAS) advanced 3.2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 3.1%.CommoditiesCrude oil dropped 5.8%, and the United States Oil Fund (USO) fell 4.2%. Natural gas dipped 3.6%, and the United States Natural Gas Fund (UNG) fell 2.7%.Gold on Comex fell 0.9%, and the State Street SPDR Gold Shares (GLD) dipped 1.1%. Silver was down 1.9%, and iShares Silver Trust (SLV) lost 2%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) was up 2.1%. The Vanguard Consumer Staples ETF (VDC) added 2.1%, and iShares Dow Jones US Consumer Goods (IYK) was up 2.2%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was up 1.3%. VanEck Retail ETF (RTH) added 1.6%, and the State Street SPDR S&P Retail (XRT) gained 1.9%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 2.2% and iShares US Healthcare (IYH) added 2.1%, and Vanguard Health Care ETF (VHT) gained 2%. IShares Biotechnology ETF (IBB) was up 0.9%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) slipped 0.3%. Vanguard Industrials Index Fund (VIS) was down 0.4% and iShares US Industrials (IYJ) rose 0.3%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 1.4%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) eased 1.2%, ProShares Ether ETF (EETH) was down 1.5%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 1.7% 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