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Sector Update: Consumer Stocks Fall Pre-Bell Wednesday

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Consumer stocks were falling pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) declining 0.9%.

Signet Jewelers (SIG) shares were up more than 13% after the company posted higher fiscal Q2 adjusted earnings and raised its fiscal 2027 non-GAAP EPS guidance.

Booking (BKNG) lost its legal battle against the European Union's antitrust veto of the company's acquisition of Etraveli Group, with the Luxembourg-based General Court saying the deal is "incompatible with the internal market and the EEA agreement." The company's stock was down more than 2% premarket.

Chewy (CHWY) shares were down more than 4% even after the company reported higher fiscal Q2 adjusted earnings and net sales.

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Sector Update: Financial Stocks Fall Tuesday

Financial stocks declined Tuesday with the NYSE Financial Index dropping 0.9% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.4%.The Philadelphia Housing Index fell 2.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.1%.Bitcoin (BTC-USD) eased 0.2% to $78,436, and the yield for 10-year US Treasuries rose 2.2 basis points to 4.806%.In economic news, US consumer credit use rose by $18.1 billion in July, compared with an $11.67 billion increase expected in a survey compiled by Bloomberg and following a $14.5 billion gain in the previous month.Consumer expectations for one-year US inflation remained unchanged at 3.6% in August, according to a survey released by the New York Federal Reserve Bank. The median inflation expectations decreased to 3.2% from 3.3% for the three-year horizon and remained at 3.0% for five-year outlook.In corporate news, WaFd (WAFD) agreed to combine with EverBank Financial in a reverse merger deal worth $3.9 billion. WaFd shares fell 5.6%.Robinhood Markets (HOOD) entered into a multiyear partnership with OG.com, designating the prediction market platform as an infrastructure and clearing provider for its Prediction Markets offering. Robinhood shares fell 3.9%.Markel Group (MKL) said Chairman Steve Markel will step down and not seek reelection at the 2027 annual shareholder meeting. The board named CEO Tom Gayner as chairman in addition to his current role. Markel shares fell 2.3%.Pinnacle Financial Partners (PNFP) is positioned to grow faster than peers following its merger with Synovus Financial (SNV), helped by strong banker hiring, high retention and a broader Southeast reach, Morgan Stanley said. Pinnacle shares eased 0.2%.

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Sectors

Sector Update: Energy Stocks Gain Late Afternoon

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) up 1.3%.The Philadelphia Oil Service Sector Index was decreasing 0.2%, and the Dow Jones US Utilities Index rose 1.2%.Brent crude futures rose close to the $100 mark on Tuesday after attacks on Saudi Arabian energy facilities prompted temporary production shutdowns. Oil prices are up so far in September following two consecutive monthly gains as tensions between the US and Iran escalated. Yemen's Iran-allied Houthi group struck civilian and economic sites in Saudi Arabia, injuring 73 people, the kingdom's Ministry of Foreign Affairs said Tuesday. The attacks sparked fires at several energy facilities, prompting a temporary halt to operations, the Saudi Energy Ministry. The Houthi group targeted Saudi Aramco's facilities across Abha, Najran, and Jazan, Bloomberg reported, citing the group's military spokesperson.Front-month West Texas Intermediate crude oil rose 2.2% to $93.52 a barrel, and the global benchmark Brent crude contract added 1.6% to $98.59 a barrel. Henry Hub natural gas futures fell 2% to $2.92 per 1 million BTU.In corporate news, Cenovus Energy (CVE) shares rose 2.8% after JPMorgan upgraded the stock to overweight from neutral.NextEra Energy (NEE) and the US Department of Energy, through its Office of Energy Dominance Financing, have agreed to a combined conditional commitment of up to $1.9 billion to restart the Duane Arnold Energy Center in Iowa, the company said Tuesday. NextEra shares added 0.9%.Equinor (EQNR) and Standard Lithium's (SLI) Smackover Lithium partnership said Tuesday that a preliminary economic assessment of the Franklin project in northeast Texas estimates annual production of up to 70,000 tonnes of battery-quality lithium carbonate. Equinor shares rose 2.9%.Solaris Energy Infrastructure (SEI) shares jumped past 15% after the firm said Tuesday that it now expects Q3 adjusted Ebitda of $110 million to $130 million, up from its previous guidance of $90 million to $105 million.

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Sectors

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1%. The Philadelphia Semiconductor index climbed up 1.5%.In corporate news, Intel (INTC) is expected to raise personal computer central processing unit prices by another 10% in early October, Digitimes reported, citing supply chain sources. Intel shares jumped past 9%.Palantir (PLTR) and Nebius (NBIS) agreed on a strategic partnership that will give Palantir commercial customers access to Nebius' AI-native compute infrastructure and cloud platform, the companies said Tuesday. Nebius shares gained past 7%, and Palantir was down 2.4%.Soluna (SLNH) shares popped past 5% after the company said it has energized the final 14 megawatts at Project Kati 1 in Willacy County, Texas, completing the 83-megawatt site.Qualcomm (QCOM) issued a warrant to an Amazon.com (AMZN) affiliate last week to acquire up to 25 million shares at $161.26 each, the chipmaker said. Qualcomm is also collaborating with Amazon to produce customized silicon for AI data centers and optical connectivity products. Qualcomm shares rose 2.4%, and Amazon was shedding 0.6%.

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