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Sector Update: Tech Stocks Fall Pre-Bell Tuesday

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Technology stocks were falling pre-bell Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) 1.6% lower and the State Street SPDR S&P Semiconductor ETF (XSD) declining by 3.5%.

ASML Holding (ASML) shares were down more than 4% after The Information reported that a Chinese state-backed company has started manufacturing certain chipmaking equipment that could impact ASML's market position.

Corning (GLW) stock was down more than 16% amid a soft Q3 outlook, with EPS and sales estimates barely meeting analysts' expectations.

Microsoft (MSFT) shares were up more than 1% after the company introduced Project Perception, an AI-powered cybersecurity platform designed to detect, assess and respond to cyber threats in real time as attackers increasingly use AI to automate attacks.

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Sector Update: Healthcare Stocks Advance Late Afternoon

Healthcare stocks were higher late Monday afternoon, with the NYSE Healthcare Index rising 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.8%.The iShares Biotechnology ETF (IBB) advanced 0.7%.In corporate news, Forte Biosciences (FBRX) shares soared 39% after it agreed to be acquired by Argenx (ARGX) in a deal worth about $2.2 billion. Argenx shares were down 2.5%.AstraZeneca (AZN) shares were up 0.8% after it posted higher Q2 core earnings and revenue, and raised its interim dividend.Ensign (ENSG) shares climbed nearly 3% after it reported higher Q2 adjusted earnings and revenue, and raised its 2026 outlook.Veru (VERU) said Monday it has completed enrollment in a phase 2 trial evaluating its experimental drug enobosam in combination with semaglutide, in about 200 adults aged 65 and older with obesity. Veru shares gained 3.1%.

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Sectors

Sector Update: Tech Stocks Decline Late Afternoon

Tech stocks were lower late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) shedding 0.7% and the State Street SPDR S&P Semiconductor ETF (XSD) down 0.8%. The Philadelphia Semiconductor index fell 2.1%.In corporate news, Nvidia (NVDA) has agreed to expand its partnership with South Korean conglomerate SK Group with a more than $500 billion AI infrastructure initiative. Separately, Nvidia is in talks to provide a roughly $250 billion financial backstop for Microsoft-backed (MSFT) OpenAI as part of a massive data center project in southern Ohio that could cost more than $500 billion, The Wall Street Journal reported Sunday. Nvidia shares were down 4.8%.ASML (ASML) shares fell 5.6% after The Information reported that a Chinese state-backed company has started making some chipmaking equipment that could impact ASML's market position.Amazon.com's (AMZN) Leo subsidiary filed with the US Federal Communications Commission to launch and operate a new constellation of up to 5,105 satellites designed to connect compatible mobile devices directly from space. Amazon shares eased 0.1%.Cognizant Technology Solutions (CTSH) said Monday it has struck a five-year partnership with Andover to scale its systems, unify its data, and help lay the foundation for AI adoption in underwriting and claims. Cognizant shares rose 4.5%.

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Sectors

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks advanced in late Monday afternoon trading, with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.9%.The Philadelphia Housing Index was up 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.3%.Bitcoin (BTC-USD) was declining 0.7% to $64,905, and the yield for 10-year US Treasuries fell 3.8 basis points to 4.641%.In corporate news, Brookfield Asset Management (BAM) has raised $2 billion for Brookfield Middle East Partners, a new private equity fund anchored by Saudi Arabia's Public Investment Fund and other institutional partners, PIF said Monday. Brookfield Asset Management shares rose 2.5%.TPG (TPG) is engaged in exclusive talks to buy Macquarie-backed Netrality Data Centers, Bloomberg reported. TPG shares were up 0.4%.Ares Management (ARES) held discussions to acquire private equity firm Leonard Green & Partners to expand its private equity business, the Financial Times reported. Ares shares added 0.6%.Bank of Hawaii (BOH) reported higher-than-expected Q2 earnings, but revenue growth fell short of market expectations. Its shares fell 4.4%.

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