FINWIRES · TerminalLIVE
FINWIRES

Sector Update: Consumer Stocks Advance Premarket Thursday

By

Consumer stocks were advancing premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 1.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 1% higher.

Amazon.com (AMZN) shares were up more than 1% after the company said it will invest over 10 billion euros ($11.63 billion) to upgrade European fulfillment centers with new robotics while adding 25,000 regional positions.

Global-e (GLBE) stock was up more than 2% after the company said its board has approved a new share repurchase program to buy back up to $500 million of its ordinary stock.

Somnigroup International (SGI) shares were up more than 1% after the company said the mandatory 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for its planned merger with Leggett & Platt (LEG) has expired.

Related Articles

Sectors

Sector Update: Tech Stocks Fall Pre-Bell Thursday

Technology stocks were falling pre-bell Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) down 2.2% and the State Street SPDR S&P Semiconductor ETF (XSD) 3.2% lower.Broadcom (AVGO) stock was down more than 14% after the company reported fiscal Q2 revenue that missed analysts' expectations.Taiwan Semiconductor Manufacturing (TSM) CEO C.C. Wei said AI-driven demand for advanced chips will continue to outpace the company's supply capacity for years, despite ongoing expansion efforts, multiple media outlets reported. Taiwan Semiconductor shares were down more than 1% premarket.Palantir Technologies (PLTR) entered into agreements with Kirkland & Ellis, McCarthy Building and GNP Seguros for the use of its Artificial Intelligence Platform, or AIP, the company said in separate statements. Palantir Technologies stock was up more than 2% pre-bell.

$AVGO$PLTR$TSM$XLK$XSD
Sectors

Sector Update: Energy

Energy stocks were leaning lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.8%.The United States Oil Fund (USO) was down 3.1% and the United States Natural Gas Fund (UNG) was 2% higher.Front-month US West Texas Intermediate crude oil was 3.3% lower at $92.85 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 3% to $94.89 per barrel, and natural gas futures were up 2.9% at $3.31 per 1 million British Thermal Units.Expro Group (XPRO) shares were up more than 1% after the company said it has filed its definitive proxy statement with the Securities and Exchange Commission regarding its proposed move to redomicile in the Cayman Islands from the Netherlands.

$xpro
Sectors

Gold Trading Higher as the Dollar and Yields Fall as Israel and Lebanon Agree to a Ceasefire

Gold prices rose early on Thursday as the dollar and treasury yields weakened as oil prices dropped after Israel and Lebanon reached a ceasefire agreement, lowering the inflation fears that have kept the precious mental rangebound since the start of the war between the United States and Iran.Gold for July delivery was last seen up US$59.10 to US$4,526.00 per ounce.The rise comes as Israel and Lebanon agreed to a ceasefire, one of Iran's key demands for agreeing for a deal of its own to end the war with the United States and reopen the Strait of Hormuz. The rise in oil prices that has followed the start of the war has boosted inflation, raising worries central banks will need to hike interest rates, bearish for gold since it pays no interest. However oil traded sharply lower Thursday following the ceasefire agreement."Gold fell to test its 200-day moving average once again on Wednesday as higher oil prices kept inflation concerns elevated following renewed tensions in the Middle East. Those losses were reversed in early trading on Thursday after Israel and Lebanon announced a conditional ceasefire. Overall, gold remains rangebound, with steady central bank demand being offset by ETF outflows and short-term momentum traders positioning for a deeper correction," Saxo Bank noted.The dollar fell off a two-month high as oil prices weakened, with the ICE dollar index last seen down 0.3 points to 99.23. Treasury yields also fell, with the U.S. two-year note last seen paying 4.043%, down 4.3 basis points, while the yield on the 10-year note was down 4.5 points to 4.455%.

$GCN6$GLD