FINWIRES · TerminalLIVE
FINWIRES

Oil Outlook Weighs on Wall Street Pre-Bell; Asia Mixed, Europe Off

By

Wall Street futures pointed modestly lower pre-bell Monday, as traders weighed fresh hostilities in the Persian Gulf, while a waning earnings season offered fewer catalysts.

In the futures, the S&P 500 fell 0.2%, the Nasdaq declined 0.1% and the Dow Jones was off 0.2%.

West Texas Intermediate crude oil traded up 3.4% at $86.24, in morning action.

The VanEck Semiconductor fund (SMH) traded up 0.5% pre-bell.

Looking ahead, investors are awaiting the Job Openings and Labor Turnover Survey (JOLTS) release for July on Tuesday, and then the August national jobs report on Friday, for insights into the domestic labor market.

Blue chips reporting earnings later this week include Broadcom (AVGO), Palo Alto Networks (PANW), Dell Technologies (DELL), Snowflake (SNOW), Medtronic (MDT), Hewlett Packard Enterprise (HPE), MongoDB (MDB), and Ciena (CIEN).

Asian exchanges traded unevenly overnight, while European bourses tracked moderately lower midday on the continent.

PG&E (PCG) shares fell 16.6% pre-bell on concerns regarding the utility's unresolved wildfire risk exposure.

On the economic calendar is the Federal Reserve Dallas manufacturing survey at 10:30 am ET.

In pre-market action, bitcoin traded at $78,369 and 10-year US Treasuries offered 4.72%. Spot gold commanded $4,450 an ounce.

What else is happening in Asia Markets?

Asia Markets

Singapore Shares Open Lower on Fed Rate Hike Concerns, Renewed US-Iran Tensions

Singapore shares opened on a weak note on Monday, pressured by expectations of a U.S. interest rate hike next month following hawkish comments from Federal Reserve Chair Kevin Warsh.The Straits Times Index (STI) opened down 13.79 points, or 0.24%, at 5,686.140.In his speech at the Jackson Hole Symposium on Friday, Warsh expressed concern over persistent inflation levels and underscored the central bank's determination to steer inflation back toward its 2% target.Investor sentiment was further dampened by geopolitical concerns, following renewed military exchanges between the U.S. and Iran that pushed crude oil prices higher.

^STI
Asia Markets

Tadawul Shares End Sunday Lower; Saudi Arabia to Reportedly Head to Turkey for Defense Pact Talks

The Tadawul All Share Index started the week at 0.71% in the red on Sunday ahead of Saudi Arabia's reported defense meeting with Turkey and Pakistan on Monday.Sources said that officials from Saudi Arabia, Turkey, and Pakistan are set to meet in Istanbul to discuss their Mecca Joint Defence Agreement that was entered into in August. The talks will focus on international security issues, as well as boosting the countries' defense capabilities, among other topics.Also making headlines during the session is US President Donald Trump's announcement regarding an agreement with a private business that will give the US majority control of Venezuela's proven oil reserves.Back at home, Naas Petrol Factory (SASE:9609) and Al Kuzama Trading (SASE:9636) released their financial statements for the first half of 2026. Naas logged lower results for the six-month period, while Al Kuzama reported a decline in attributable net profit and a rise in revenue."Revenue increased by 5.21% to SAR 158 million, compared to SAR 150 million in the corresponding period of the previous year, driven by growth in the restaurant operations of the existing subsidiaries," Al Kuzama said in its report. "The [net profit] decrease was mainly attributable to a decline in the gross profit margin from 20.7% to 14.2%, due to regional and global geopolitical conditions and their direct impact on food product costs, in addition to higher general and administrative, selling, and marketing expenses."Naas Petrol closed 1.64% higher, while Al Kuzama shares fell 7.62% at closing.Meanwhile, Knowledge Tower Trading (SASE:9551) shares ticked down 3.66% as it entered into a three-year deal to deliver educational curricula and textbooks to Maarif Education Co.

^TASISASE:9551SASE:9609SASE:9636
Asia Markets

Exchange-Traded Funds Fall, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) eased 0.5%.US equity indexes traded mixed, while government bond yields advanced after Federal Reserve Chairman Kevin Warsh said inflation is the more concerning part of the central bank's dual mandate, recommitting to the 2% inflation goal.EnergyIShares US Energy ETF (IYE) added 0.3% and the State Street Energy Select Sector SPDR (XLE) rose 0.5%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) fell 1.1%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) also edged lower.The State Street SPDR S&P Semiconductor (XSD) was down 3.6%, while iShares Semiconductor (SOXX) shed 2.9%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) advanced 1.3%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 1.2%.CommoditiesCrude oil fell 0.1%, and the United States Oil Fund (USO) dipped 0.1%. Natural gas eased 1.3%, and the United States Natural Gas Fund (UNG) was down 0.9%.Gold on Comex slipped 3.1%, and the State Street SPDR Gold Shares (GLD) was down 2.8%. Silver fell 2.9%, and iShares Silver Trust (SLV) declined 3.5%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) added 0.2%. The Vanguard Consumer Staples ETF (VDC) gained 0.4%, while iShares Dow Jones US Consumer Goods (IYK) was up 0.4%.The State Street Consumer Discretionary Select Sector SPDR (XLY) added 0.8%. VanEck Retail ETF (RTH) was up 0.7%, and the State Street SPDR S&P Retail (XRT) rose 0.6%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) eased 0.4%. iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were also lower. IShares Biotechnology ETF (IBB) lost 2.5%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) fell 1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also in the red.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 2.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) shed 2.6%, ProShares Ether ETF (EETH) was down 2.2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) gained 1.7%.

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