Financial stocks were advancing premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.3% higher.
The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1% lower.
American Express (AXP) reported higher Q2 earnings and net revenue, with net revenue missing analysts' expectations. American Express stock was down more than 4% pre-bell.
Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index decreasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.4%.The Philadelphia Housing Index was falling 1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.2%.Bitcoin (BTC-USD) was declining 1.6% to $64,752, and the yield for 10-year US Treasuries rose 4.6 basis points to 4.70%.In sector news, the US Justice Department will return to implementing targeted probes to expedite the review of merger deals, it said Thursday. The DOJ is "working to eliminate bureaucratic burdens while still preserving the integrity of Second Request investigations, which are aimed at protecting American consumers and affordability," said Associate Attorney General Stanley E. Woodward Jr.In corporate news, Zions Bancorporation (ZION) shares fell 1.5% after Evercore ISI downgraded the stock to underperform from inline and cut its price target to $68 per share from $74.Ares Management (ARES) received clearance from the European Commission to acquire joint control of Eni Plenitude alongside parent Eni (E), the EU's competition watchdog said Thursday. Ares shares rose 1.6%.Nasdaq (NDAQ) shares were up 0.4% after the company posted higher Q2 non-GAAP earnings and net revenue.KKR (KKR) plans to gradually sell its stake in Taiwan's LCY Chemical, Bloomberg reported, citing LCY Group Chairman Bowei Lee. KKR shares added 0.5%.
Healthcare stocks advanced late Thursday afternoon with the NYSE Healthcare Index gaining 1.2% and the State Street Health Care Select Sector SPDR ETF (XLV) rising 1.1%.The iShares Biotechnology ETF (IBB) added 1%.In corporate news, Thermo Fisher Scientific (TMO) shares jumped 8.9% after fiscal Q2 adjusted earnings and revenue topped estimates.Quest Diagnostics (DGX) shares rose 8% after Q2 adjusted earnings and revenue exceeded market consensus.Neuphoria Therapeutics (NEUP) agreed to be acquired by Scancell Holdings in an all-stock deal. Neuphoria shares jumped 15%.Agilon Health (AGL) shares fell 14% after Citigroup downgraded the stock to sell from neutral and lifted its price target to $105 from $80.
Energy stocks rose late Thursday afternoon with the NYSE Energy Sector Index gaining 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.7%.The Philadelphia Oil Service Sector Index shed 0.1%, and the Dow Jones US Utilities Index increased 0.5%.Brent crude futures topped $100 a barrel for the first time since May after the US-Iran conflict widened, with Yemen's Iran-aligned Houthis claiming attacks on two Saudi Arabian oil tankers in the Red Sea, news outlets reported.West Texas Intermediate crude oil jumped 5.8% to $91.90 a barrel, and global benchmark Brent surged 6.7% to $100.37. Henry Hub natural gas futures decreased 0.6% to $2.91 per 1 million BTU.In sector news, US natural gas stocks rose by 32 billion cubic feet in the week ended July 17, a smaller increase than the 34-billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 41 billion cubic feet in the previous week.In corporate news, TotalEnergies (TTE) shares rose 1.6% after it reported stronger-than-expected Q2 adjusted earnings and revenue.Ares Management (ARES) received clearance from the European Commission to acquire joint control of Eni Plenitude alongside parent Eni (E), the EU's competition watchdog said Thursday. Eni shares added 1.8%.Matador Resources (MTDR) agreed to buy Paloma Permian, a portfolio company of EnCap Investments, for $1.28 billion. Matador shares fell 5.6%.Equinor (EQNR) is set to benefit from a boom in commodity prices as oil and gas market disruptions provide the sector with material tailwinds, RBC Capital Markets analysts said in a Thursday note. RBC upgraded the stock's rating to sector perform from underperform. Equinor shares climbed 3%.