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Sector Update: Energy Stocks Decline Premarket Tuesday

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Energy stocks were declining premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) down 0.3%.

The United States Oil Fund (USO) was down 1.1% and the United States Natural Gas Fund (UNG) was 1.9% lower.

Front-month US West Texas Intermediate crude oil was 0.9% lower at $91.30 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.7% to $94.28 per barrel, and natural gas futures were down 1.8% at $3.12 per 1 million British Thermal Units.

BP (BP) has asked senior independent director Amanda Blanc to lead the search for the company's next chair despite concerns from some investors and city figures following the departure of former chairperson Albert Manifold, the Financial Times reported. Shares of BP were down more than 1% pre-bell.

BW LPG (BWLP) shares were up 0.7% after the company reported higher Q1 earnings.

Bloom Energy (BE) doesn't currently see a need to raise capital through share sales despite surging demand for its fuel-cell technology from AI data centers, Bloomberg News reported, citing Chief Executive K. R. Sridhar. Bloom Energy stock was up more than 3% premarket.

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Gold Trading Higher Following Reports Peace Negotiations Between Iran and the U.S. are Continuing

Gold rose early Tuesday as the dollar weakened following reports Iran is reviewing a fresh U.S. offer to end their war and reopen the Strait of Hormuz.Gold for July delivery was last seen up $55.90 to US$4,562.20 per ounce.The rise comes as Reuters on Tuesday, in citing Iranian media, reported Iran is considering a fresh U.S. proposal to end the war and reopen the critical Strait of Hormuz, while U.S. President Trump said on Monday talks were continuing. This is a day after the two sides traded strikes and Iran was said it would not continue talks as long as Israel continued to attack its Hezbollah allies in Lebanon.Hope for an end to the war is lowering oil prices and easing fears over the rise in inflation that has followed the closure of the Strait since the war began on Feb. 28, blocking the exports from Persian Gulf nations that supplied a fifth of daily oil demand. Traders have turned away from gold as a store of value amid the inflation worries, preferring the dollar as a hedge should central banks raise interest rates to slow rising prices."Gold continues to take its cues from the oil market given crude's influence on inflation expectations and, by extension, interest rates, bond yields and the dollar," Saxo Bank noted.The dollar fell early, with the ICE dollar index last seen down 0.13 points to 99.07. Treasury yields were steady, with the U.S. two-year note last seen paying 4.037%, up 0.4 basis points, while the yield on the 10-year note was down 0.9 points to 4.444%.

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Sectors

Sector Update: Healthcare Stocks Down Premarket Tuesday

Healthcare stocks were lower premarket Tuesday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.1% and the iShares Biotechnology ETF (IBB) easing 0.3%.Hims & Hers Health (HIMS) stock was up more than 2% after the company said it has completed its acquisition of Eucalyptus, expanding its consumer health platform across Australia, Canada, Germany, and other international markets.Heron Therapeutics (HRTX) shares were down 18% after the company said the US District Court for the District of Delaware has ruled that claims in two of its Cinvanti injectable emulsion patents are invalid.Telix Pharmaceuticals (TLX) and United Imaging Healthcare North America signed a memorandum of understanding for a research collaboration in the US focused on integrated theranostics solutions. Telix Pharmaceuticals stock was down more than 2% pre-bell.

$HIMS$HRTX$IBB$TLX$XLV
Sectors

Sector Update: Financial Stocks Lean Lower Pre-Bell Tuesday

Financial stocks were leaning lower pre-bell Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.7% higher.UP Fintech Holding (TIGR) stock was down more than 2% after the company said it swung to a Q1 non-GAAP loss.BlackRock (BLK) is set to acquire a 15% stake in Japanese taxi-hailing app Go as part of the company's planned initial public offering, Nikkei Asia reported, citing sources and securities filing details. BlackRock shares were 0.5% lower premarket.UBS (UBS) is set to raise at least $500 million in Additional Tier 1 bonds denominated in US dollars, Bloomberg reported, citing a person familiar with the matter. UBS shares were 0.4% higher pre-bell.

$BLK$FAS$FAZ$TIGR$UBS$XLF