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Exchange-Traded Funds Higher, US Equities Mixed After Midday

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Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV rose. Actively traded Invesco QQQ Trust (QQQ) gained 0.3%.

US equity indexes traded mixed midday Monday as crude oil futures rose after President Donald Trump rejected Iran's response to his proposal to restart the peace process.

Energy

IShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added 2.4%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) rose 1.2%; iShares US Technology ETF (IYW) climbed 0.7%, and iShares Expanded Tech Sector ETF (IGM) gained 0.6%.

The State Street SPDR S&P Semiconductor (XSD) rose 2.4%, and iShares Semiconductor (SOXX) advanced 2.3%.

Financial

The State Street Financial Select Sector SPDR (XLF) fell 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.6%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), climbed up 0.6%.

Commodities

Crude oil rose 4.3%, and the United States Oil Fund (USO) jumped 4.6%. Natural gas gained 5%, and the United States Natural Gas Fund (UNG) rose 5.3%.

Gold on Comex and the State Street SPDR Gold Shares (GLD) each eased 0.1%. Silver climbed 6.2%, and iShares Silver Trust (SLV) gained 5.6%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) fell 1.3%. The Vanguard Consumer Staples ETF (VDC) dropped 1.6%, and iShares Dow Jones US Consumer Goods (IYK) declined 0.4%.

The State Street Consumer Discretionary Select Sector SPDR (XLY) fell 0.6%. VanEck Retail ETF (RTH) dropped 1.5%, and the State Street SPDR S&P Retail (XRT) slumped 3.3%.

Health Care

The State Street Health Care Select Sector SPDR (XLV) fell 0.2%, iShares US Healthcare (IYH) shed 0.3%, and Vanguard Health Care ETF (VHT) declined 0.3% lower. IShares Biotechnology ETF (IBB) gained 0.3%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) rose 1.1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also higher.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) added 0.4%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 1.9%, ProShares Ether ETF (EETH) gained 0.7%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.8% higher.

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US Equity Indexes Mixed, Crude Oil Rises With Treasury Yields as Iran Ceasefire on 'Massive Life Support'

US equity indexes traded mixed midday Monday, while crude oil futures rose with Treasury yields, after President Donald Trump rejected Iran's response to its proposal to restart the peace process.The Nasdaq rose 0.2% to 26,302.1 after touching a record 26,339.78 intraday. The S&P 500 climbed 0.3% to 7,417.2 after hitting an all-time high of 7,423.59 earlier in the session. The Dow Jones Industrial Average was steady to slightly lower at 49,604.7.Energy was the standout gainer, followed by materials and technology. Communication services and consumer staples led the decliners.Tech heavyweights Qualcomm (QCOM), Micro Technology (MU), and Nvidia (NVDA) were among the top 10 gainers intraday in a category of stocks with a market capitalization of more than $200 billion, according to data compiled by Finviz.The US and Iran remained far apart on a framework to end their war and reopen the Strait of Hormuz, with Trump calling the Islamic Republic's reply to his proposed peace plan unworkable, Bloomberg reported. Tehran demanded a lifting of the US naval blockade and sanctions relief, while maintaining a degree of control over traffic through Hormuz, a person familiar with the matter told Bloomberg.Trump said the ceasefire between the US and Iran is on "massive life support," after he rejected Iran's response to a proposal for ending the war as unserious, according to a report from The Wall Street Journal.West Texas Intermediate crude oil futures rose 3.4% to $98.69, and Brent crude futures increased 3.3% to $104.66.US Treasury yields rose, with the 10-year up 3.8 basis points to 4.4% and the two-year rate higher by 3.6 basis points to 3.93%."Oil price dynamics remain crucial for bond markets and should set a bearish tone at the start of the week," Commerzbank's Hauke Siemssen and Erik Liem were cited as saying in a report from The Wall Street Journal on Monday.In economic news, the pace of US existing home sales rose 0.2% to a 4.02 million seasonally adjusted annual rate in April from 4.01 million in March, below expectations for a 4.05 million rate in a survey compiled by Bloomberg, data from the National Association of Realtors released Monday showed. Total sales were unchanged from a year earlier.In company news, Lumentum (LITE) said Monday that its stock will be included in the Nasdaq-100 Index, effective May 18. Shares surged 17%, the top gainer on the S&P 500.HSBC downgraded Trade Desk (TTD) to reduce from hold while adjusting its price target to $20 from $31. Shares slumped 7.5%, the worst performer on the S&P 500.In precious metals, gold futures slipped less than 0.1% to $4,730.1, and silver futures jumped 6.7% to $86.28.

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Asia Markets

Swiss Stocks Kick Off Week Little Changed; Ams-Osram Shares Gain

The Swiss Market Index was 0.01% higher on Monday's close, as investors gear up for a busy week of economic data prints and business surveys across Europe and other major global markets.ABB (ABBN.SW) is investing $200 million over the next three years to bolster its medium-voltage manufacturing and technology capabilities in Europe, with $100 million earmarked for a new facility in Italy. The other half will be allocated for capacity expansion projects across the Switzerland-based electrification and automation company's manufacturing facilities in Bulgaria, Finland, Germany, Norway and Poland. The stock was up 1.88% at closing.Ams-Osram (AMS.SW) saw its shares surge 13.22% as it agreed to sell its CMOS Image Sensor business to indie Semiconductor for a total consideration of 40 million euros. The divestment is part of the light and sensors manufacturer's accelerated deleveraging plan and continued efforts to focus on core digital photonics growth vectors, with the deal anticipated to complete within the next six months."While [CMOS Image Sensor] represents a strong technology platform, our strategic priority is to concentrate investments on those AI driven segments that offer the most promising growth prospects and where we clearly differentiate - including AI Photonics and AR smart glasses," Ams Osram Chief Executive Officer Aldo Kamper said. "At the same time, the expected cash proceeds provide an additional contribution to our accelerated balance sheet deleveraging. Our transformation into the Digital Photonics powerhouse is progressing."Switzerland's economic news calendar was empty for the day, while the release of the country's April producer and import prices and first-quarter industrial production data are on this week's agenda. Market watchers are also awaiting the April US inflation rate figures and Eurozone ZEW Economic Sentiment Index for May, among other key data releases.

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Asia Markets

German DAX Closes Flat Amid Stalled US-Iran Peace Talks

German shares were little changed, with the blue-chip index gaining 0.05% at Monday's close, as peace negotiations between the US and Iran remain in limbo.The diplomatic impasse deepened Sunday as Iran's latest offer, which included war reparations, the end of the US naval blockade, and recognition of the country's sovereignty over the Strait of Hormuz, was summarily dismissed by US President Donald Trump as "totally unacceptable" in a post on his social media platform Truth Social. Danske Bank noted that oil prices saw a 6% gain over May 8's close, with Brent trading around $106 per barrel by Monday morning.For the week ahead, key European economic releases include Germany's final April inflation and May ZEW survey on Tuesday, alongside first-quarter gross domestic product and industrial production figures for the broader eurozone on Wednesday. The market is also expected to focus on the meeting between Trump and Chinese President Xi Jinping scheduled for Thursday and Friday.On the corporate side, E.ON (EOAN.F) climbed 1.87% after agreeing to purchase British energy supplier Ovo. The acquisition is expected to bring 4 million customers to the German utility company and bolster its digital energy business.Meanwhile, Hannover Re (HNR1.F) slipped 2.62% at the end of the trading day, as the German reinsurer's first-quarter net income of 710.6 million euros missed the consensus estimate of 721 million euros, overshadowing the 47.9% surge in annual earnings."Q1 net income was a 1% miss, with [property and casualty] top-line a big miss and [life and health] top-line a beat... Negatives were L&H EBIT at EUR204m (20% miss vs cons EUR254m), driven by lower investment income and a negative currency result, and P&C revenue at EUR4,480m (13% below cons) due to [foreign exchange and structured reinsurance] volume declines, with Q1 new business [contractual service margin] -27% y/y," RBC Capital Markets said in a quick-take report. "While the stock has been weak into results, and the shares trade on a recent PE low, we would expect a muted first reaction, although the key message of resiliency is likely to resonate with existing shareholders."

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