Technology stocks were falling premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) down 2.3% and the State Street SPDR S&P Semiconductor ETF (XSD) 4.1% lower.
Taiwan Semiconductor Manufacturing (TSM) plans to sell a significant stake, comprising 152 million shares or around an 8.1% interest, in Vanguard International Semiconductor, the company said. Shares of Taiwan Semiconductor Manufacturing were down more than 3% pre-bell.
Markets are ending the week in "turmoil," said Scotiabank.Oil continues to creep higher with WTI and Brent up by around US$3 a barrel and inching back toward the Middle East wartime peak, noted the bank.Bonds are selling off across maturities and markets, with gilts leading the way with double-digit increases in yields due to ongoing political "dysfunction" in the United Kingdom, stated Scotiabank.Stocks are lower by more than 1% across all major yardsticks, it pointed out. The US dollar (USD) is broadly firmer. Crypto-land is broadly lower.Canadian bond markets will shut early on Friday at 1 p.m. ET in consideration of Monday's national holiday, added the bank.
The U.S. benchmark Henry Hub natural gas spot price rose US$0.13 per million British thermal units to $2.88/MMBtu in the week ended May 13, the U.S. Energy Information Administration said in its Weekly Natural Gas Storage Report Supplement released Thursday.Temperatures across the country remained near normal overall, limiting heating and cooling needs, the EIA noted.U.S. natural gas demand edged lower by 0.5 billion cubic feet per day week over week, led by a decline in residential and commercial consumption and slightly offset by a rise in electric power sector demand, the EIA said.U.S. natural gas supply increased 1.0 Bcf/d, led by higher dry natural gas production, the EIA reported, citing LSEG Data.Net injections into storage amounted to 85 Bcf for the week ended May 8, resulting in total working gas stocks of 2,290 Bcf. This was 140 Bcf more than the five-year average and 51 Bcf more than the year-ago period.The LNG-carrying capacity of vessels departing U.S. ports was 141 Bcf, up 26 Bcf from the previous week. Thirty-seven LNG vessels left the country, an increase of seven vessels week over week, the EIA reported.