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Sector Update: Tech Stocks Edge Higher Premarket Tuesday

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Technology stocks were edging higher premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) advancing by 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) up 1.4%.

Bloom Energy (BE) said it will provide up to 2.8 gigawatts of its fuel cell systems to Oracle (ORCL) under an expanded partnership to support the software giant's artificial intelligence infrastructure buildout. Shares of Oracle were up more than 5% pre-bell.

Camtek (CAMT) stock was up more than 5% after the company said it has agreed to acquire Tel Aviv-based artificial intelligence business Visual Layer, with closing expected in a few weeks.

Apple (AAPL) ranked second in China's smartphone market in the first quarter of 2026, as overall shipments declined 1% year over year to 69.8 million units, research firm Omdia reported. Apple shares were 0.2% higher pre-bell.

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Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Monday afternoon, with the NYSE Energy Sector Index shedding 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.3%.The Philadelphia Oil Service Sector Index added 1%, and the Dow Jones US Utilities Index was falling 1.2%.Front-month West Texas Intermediate crude oil was rising 1.4% to $97.89 a barrel, and the global benchmark Brent crude contract was advancing 3.3% to $98.32 a barrel. Henry Hub natural gas futures shed 0.8% to $2.63 per 1 million BTU.In sector news, the Organization of the Petroleum Exporting Countries on Monday lowered its Q2 oil demand forecast due to the Middle East conflict, but maintained its full-year estimates amid expectations for a rebound in H2. The cartel sees global oil consumption at 105.1 million barrels a day in the ongoing three-month period, it said in its latest monthly market report. Last month, the organization projected demand at 105.6 million barrels per day in Q2.In corporate news, TotalEnergies (TTE) shares added 0.8% after it said Monday that it has signed a memorandum of understanding with Turkey's state energy company TPAO to pursue exploration opportunities.Chevron (CVX) and Shell (SHEL) are set to sign agreements involving oil and gas areas in Venezuela, Reuters reported. Chevron shares rose 1.7%, and Shell added 0.4%.GFL Environmental (GFL) agreed to acquire Secure Waste Infrastructure in a 6.4 billion-Canadian-dollar ($4.63 billion) deal that is expected to boost its waste management operations in Western Canada. GFL shares fell 9.6%.Equinor (EQNR) shares added 0.5% after it said Monday its board has decided to propose a share capital reduction to shareholders through the cancellation of own shares and redemption of shares held by the Norwegian state following its 2025 buyback program.

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Sectors

Sector Update: Financial Stocks Climb Late Afternoon

Financial stocks were advancing in late Monday afternoon trading, with the NYSE Financial Index rising 1% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1.6%.The Philadelphia Housing Index was increasing 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was fractionally lower.Bitcoin (BTC-USD) was rising 3.3% to $73,042, and the yield for 10-year US Treasuries decreased 2 basis points to 4.297%.In economic news, the pace of US existing home sales fell by 3.6% to a 3.98 million seasonally adjusted annual rate in March from 4.13 million in February, compared with a smaller decrease expected to a 4.05 million rate in a survey compiled by Bloomberg as of 7:30 am ET, data from the National Association of Realtors released Monday showed.In sector news, BlackRock (BLK) raised its rating on US stocks to overweight from neutral, citing recent US-Iran talks as evidence of economic incentives to end the conflict. "We flagged two signposts to dial up risk-taking after the Middle East conflict led us to reduce risk and turn neutral on U.S. equities a few weeks ago," BlackRock said Monday in its weekly commentary report. "First: evidence of actions that could re-open shipping traffic in the Strait of Hormuz. Second: signs that any lingering macro impact is contained. We eye developments on both fronts. Plus, corporate earnings expectations are up even through the conflict, partly on the AI theme."In corporate news, HSBC (HSBC) shares rose 0.8% after it said Monday it has launched its tokenized deposit service in the US as part of plans to expand its digital money offerings.Goldman Sachs (GS), which reported higher Q1 earnings and net revenue pre-bell, is launching a new three-tranche offering in the US investment-grade debt market, with bond maturities spanning four to eight years, Bloomberg reported. Goldman shares were down 1.4%.Blackstone (BX) is partnering with I Squared Capital on a potential offer for the core advertising business of German media group Stroer, Bloomberg reported. Blackstone shares gained 5.8%.KKR (KKR) said its real estate arm plans to significantly ramp up property acquisitions in Japan, targeting a market it estimates at about 450 trillion yen ($2.8 trillion), as companies increasingly divest non-core assets, Bloomberg reported. KKR shares climbed 7.3%.

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Sectors

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.4%.The Philadelphia Semiconductor index climbed 1.4%.In corporate news, Oracle (ORCL) said it introduced AI-focused updates to its utilities software suite at its customer edge summit, targeting improvements in billing, grid operations, and asset management. Oracle shares jumped 12%.The recent sell-offs in Microsoft (MSFT), Salesforce (CRM), and ServiceNow (NOW) amid broader software apathy are disconnected from the AI opportunities over the coming years, as enterprises prioritize integrating AI across tech stacks, Wedbush said in a note. Shares of Salesforce and Microsoft were up 4.7% and 3.2%, respectivelyIntel (INTC) is seen with a modest upside bias to its fiscal Q1 results and full-year outlook, driven by resilient PC demand and a sharp inflection in server CPU demand, along with pricing gains of roughly 10%, UBS Securities said in a note. UBS maintained its neutral rating on the stock but raised its price target to $65 from $51. Intel shares rose 4.4%.

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