Financial stocks were advancing premarket Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.2% higher.
The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.8% lower.
Manulife Financial (MFC) shares were down more than 3% after the company priced a $750 million public offering in the US of 6.146% subordinated notes due 2041.
Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 1.7% and the State Street Energy Select Sector SPDR ETF (XLE) up 1.2%.The Philadelphia Oil Service Sector Index increased 0.4%, and the Dow Jones US Utilities Index was up 0.7%.In geopolitical news, the US military launched fresh attacks on Iran, striking Islamic Revolutionary Guard Corps targets, the US Central Command said Tuesday in a post on social media platform X. Washington is striking "Iranian targets" near the Strait of Hormuz, US President Donald Trump said Tuesday. "If the failed nation of Iran retaliates for this very justified attack, they will be hit again at a much harder and higher level," Trump said in a social media post. The latest US military actions came a day after Iran reportedly attacked US bases in Jordan and the United Arab Emirates, in retaliation for Washington striking Iranian rocket launchers on Tehran's Larak Island.Front-month West Texas Intermediate crude oil jumped 5.4% to $90.39 a barrel, and the global benchmark Brent crude contract surged nearly 5% to $94.98 a barrel. Henry Hub natural gas futures rose 0.2% to $2.94 per 1 million BTU.In corporate news, Shell's (SHEL) Equilon Enterprises has signed an agreement to increase its equity in Tri Star Energy to 100% from 33%, the company said Tuesday. With the acquisition, Shell will become the full owner of an additional 320 fuel and convenience retail sites across the southeastern US. Shell shares rose 2.2%.Comstock Resources (CRK) shares jumped 11% after the company said it entered into a letter of intent under which the State Oil Co. of the Azerbaijan Republic, or SOCAR, would acquire interests in some of its Haynesville assets for $1.65 billion in cash.Chevron (CVX) is finalizing a deal for the operating rights to two giant oil fields in Venezuela's Orinoco Belt, Bloomberg reported. Chevron shares rose 2.1%.ExxonMobil (XOM) is among several major oil companies planning to pursue business in Venezuela, multiple news outlets including Reuters reported late Monday, citing comments made by US President Donald Trump at a press event in the Oval Office. Trump said ExxonMobil and Chevron are among companies preparing to bid for projects in the Venezuelan market, while other firms are also competing, the Reuters report said. ExxonMobil shares were up 2.1%.Fervo Energy (FRVO) shares surged 28% after the company said Tuesday it has signed a 396-megawatt power purchase agreement with Alphabet's (GOOGL) Google.
Financial stocks fell in late Tuesday afternoon trading with the NYSE Financial Index declining 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.8%.The Philadelphia Housing Index shed 2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.3%.Bitcoin (BTC-USD) fell 1.7% to $77,205, and the yield for 10-year US Treasuries rose 3.8 basis points to 4.796%.In economic news, US job openings rose to 7.271 million in July, according to the Bureau of Labor Statistics, below 7.313 million expected in a survey compiled by Bloomberg and up from 7.182 million in June.The Institute for Supply Management's US manufacturing index fell to 54.6 in August from 55.6 in July, compared with expectations for 55.2 in a survey compiled by Bloomberg.The first look at consumer confidence for September improved from August, with the RealClearMarkets' monthly index rising to 45.6 from 45.1. The gauge was the highest since March.In corporate news, Bank of America's (BAC) Erin Piacenti, vice president of the business selection and conflicts unit, died at the hospital after being stabbed in Times Square Monday, multiple media outlets reported Tuesday, citing the New York City Police Department and the bank's statement. The suspect, Pamela Cisneros, first stabbed a man in the abdomen as he stood with his wife waiting to cross the street, and then continued north on Seventh Avenue and stabbed Piacenti in the abdomen near 42nd Street, Bloomberg reported. NYPD Commissioner Jessica Tisch said the attacks appeared to be random and unprovoked, and the suspect had a history of mental health issues, Reuters reported. Bank of America shares were down 0.1%.S&P Global (SPGI) is considering spinning out Capital IQ Pro, a move that could create a standalone firm worth billions of dollars, Bloomberg reported. S&P is in the early stages of weighing its options for its flagship data and research platform, the report said, adding that the unit could fetch a valuation in the high single-digit billions of dollars in a spinoff scenario. S&P Global shares were up 1.1%.Apollo Global Management-backed (APO) Brightspeed informed investors there is significant doubt it can continue as a going concern, Bloomberg reported. Apollo shares fell 3.8%.Blackstone (BX) and Apollo are among the private equity firms mulling bids for Syensqo's performance and care unit, which could be valued at 3 billion euros ($3.5 billion) or more, Bloomberg reported. Blackstone shares were down 4.7%.
Healthcare stocks were higher late Tuesday afternoon, with the NYSE Healthcare Index adding 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) up 0.5%.The iShares Biotechnology ETF (IBB) increased 0.7%.In corporate news, Capricor Therapeutics (CAPR) shares rose 1.5% after Piper Sandler upgraded the company's stock to overweight from neutral and adjusted its price target to $25 from $2.Novartis (NVS) shares jumped over 6% after it said Tuesday that phase 3 trials of remibrutinib showed significantly reduced annualized relapse rates compared with teriflunomide in adults with relapsing multiple sclerosis. The trials met their primary endpoints and showed that remibrutinib was superior to teriflunomide on all key secondary measures.Medtronic (MDT) shares gained 1.4%. The company lifted its full-year outlook on Tuesday as it reported better-than-expected fiscal Q1 results.Alumis (ALMS) shares fell 56% after the company said a phase 2 trial of its envudeucitinib experimental drug in moderate-to-severe systemic lupus erythematosus failed to meet its primary and secondary endpoints in the overall trial population.