Tech stocks were higher late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.7% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 5.2%.
The Philadelphia Semiconductor index gained 4.9%.
In corporate news, Apple (AAPL) is planning to launch a new program on July 28 through which customers can lease devices, including most iPhone, Mac, iPad and Apple Watch models, Bloomberg reported. Apple shares rose 0.4%.
Energy stocks rose late Monday afternoon, with the NYSE Energy Sector Index rising 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index lost 0.4%, and the Dow Jones US Utilities Index shed 0.6%.Crude oil prices turned higher amid threats to Saudi Arabian crude oil supplies. Iran said mediators have been in touch with proposals on how to ease hostilities with the US after nine days of clashes, while tensions remained high after a threat by the Tehran-backed Houthi group against Saudi Arabia, Bloomberg reported.Houthis in Yemen said Monday they were imposing a naval blockade on Saudi Arabia, Reuters reported. The full closure of the Bab el-Mandeb strait would reduce global oil supply by 7% as it would leave most of Saudi oil exports unable to leave the region, the report said. The disruption would add to the reduction in oil flows from the war, which has already cut shipments by 10% of global supply, it added.West Texas Intermediate crude oil rose 0.5% to $82.86 a barrel, and global benchmark Brent added 0.8% to $88.80 a barrel. Henry Hub natural gas futures fell 1.9% to $2.86 per 1 million BTU.In corporate news, Magnolia Oil & Gas (MGY) agreed to buy privately-held WildFire Energy in a roughly $4.06 billion deal, including debt, that will give it a dominant position in the Giddings field in South Texas. Magnolia shares were down 5.6%.Fervo Energy (FRVO) shares gained 4% after Jefferies upgraded the stock to buy from hold while cutting its price target to $34 from $41.Tamboran Resources (TBN) has completed stimulation, cleanout, and completion activities of the Shenandoah South 3H, 4H, and 5H shale gas wells in the Northern Pilot Area of the Beetaloo Basin in Australia, the company said Monday. Shares rose 2.7%.BP (BP) said Monday it has agreed to sell its mobility, convenience and electric vehicle charging businesses in Austria to volenergy. Shares added 0.4%.
Financial stocks were lower in late Monday afternoon trading, with the NYSE Financial Index down 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) declining 0.5%.The Philadelphia Housing Index was falling 2.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was off 0.6%.Bitcoin (BTC-USD) was rising 0.8% to $65,190, and the yield for 10-year US Treasuries climbed 5.7 basis points to 4.598%.In economic news, the Conference Board's measure of leading indicators declined by 0.2% in June, larger than the 0.1% decrease expected in a Bloomberg-compiled survey, following a 0.1% increase in May.In corporate news, Truist Financial (TFC) shares fell 3.3% after JPMorgan downgraded the stock to underweight from neutral and lowered its price target to $53 from $53.50.LXP Industrial Trust (LXP) has agreed to be acquired by Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board in a deal worth roughly $5.2 billion, including net debt and preferred equity. LXP shares rose 4.2%, and Brookfield was down 1.8%.BlackRock (BLK) is attempting to sell over $12 billion in bonds to finance a data center in El Paso, Texas, Bloomberg reported. BlackRock shares were down 1.5%.KKR (KKR) and Vauban Infrastructure Partners are among the shortlisted suitors seeking to buy a majority stake in Portuguese fiber operator DStelecom, Bloomberg reported. KKR shares fell 4.1%.
Tech stocks rose late Monday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) and the State Street SPDR S&P Semiconductor ETF (XSD) each adding 0.2%.The Philadelphia Semiconductor Index gained 0.6%.In corporate news, Advanced Micro Devices (AMD) shares climbed 2.3% after the company expanded its partnership with Microsoft (MSFT) spanning AMD GPUs, CPUs, networking, and software on Microsoft Azure. Microsoft shares added 1.8%.Alphabet's (GOOGL) Google is working on a new server chip that will allow it to serve AI models to users more efficiently, The Information reported. The stock rose 1.6%.Meta Platforms' (META) Q2 results are expected to top Wall Street's estimates amid solid advertising trends, while higher memory costs may prompt the company to increase its full-year capital expenditures outlook, BofA Securities said. Meta shares added 0.4%.Nvidia (NVDA) expanded its Nvidia Agent Toolkit to include new Omniverse libraries, enabling AI agents to add physical-world AI capabilities to applications, as well as prepare 3D content for simulation. The stock eased 0.1%.