Tech stocks were lower Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 1.9%.
The Philadelphia Semiconductor index declined 2.2%.
In corporate news, Zscaler (ZS) shares tumbled 30% after the cloud security company provided a fiscal Q4 revenue outlook below market estimates, even though it reported better-than-expected results for the prior three-month period.
The official rapid response account on X for the White House said Wednesday that an earlier report by Iranian state media of a US-Iran interim peace deal is a "complete fabrication.""Nobody should believe what Iranian state media is putting out. FACTS MATTER," the White House said.
Energy stocks were declining premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.6% lower.The United States Oil Fund (USO) was down 4.4% and the United States Natural Gas Fund (UNG) was 1.7% higher.Front-month US West Texas Intermediate crude oil was 5.1% lower at $89.13 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 4.2% to $95.41 per barrel, and natural gas futures were up 1.2% at $2.93 per 1 million British Thermal Units.TotalEnergies (TTE) is facing a dispute with Mozambique over about $2 billion in costs tied to delays at its liquefied natural gas project in the country, Bloomberg reported, citing an unnamed person familiar with the matter. Shares of TotalEnergies were down more than 2% pre-bell.BP (BP) removed Chairman Albert Manifold, citing governance and oversight concerns, though Manifold rejected the company's account and said his dismissal came without explanation, Bloomberg reported, citing unnamed people familiar with the matter. BP stock was down more than 2% premarket.Gran Tierra Energy (GTE) said it has finalized all conditions tied to its previously announced agreement with Ecopetrol (EC) to acquire a 49% working interest in Colombia's Tisquirama block, expanding its footprint in the Middle Magdalena Valley Basin. Ecopetrol shares were nearly 2% lower pre-bell.