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Tech Advance, Middle East Calm Boost European Bourses Midday

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European bourses tracked higher midday Tuesday as tech issues again showed strength, and as Persian Gulf turmoil somewhat abated.

Bank and oil stocks also led gains on continental trading floors, while food shares lagged.

Additionally, investors eyed Wall Street futures in the green, and higher closes overnight on Asian exchanges.

Expanded measures to protect the European Union's steel industry will become effective Wednesday, the European Commission announced. The duty-free import quota for 26 categories of steel products will be decreased by an average of 47%, to 18.3 million tons per year, while out-of-quota imports will be subject to a 50% tariff, advised the commission.

The pan-continental Stoxx Europe 600 Index was up 1.1% mid-session.

The Stoxx Europe 600 Technology Index was up 1.6%, and the Stoxx 600 Banks Index gained 1.1%.

The Stoxx Europe 600 Oil and Gas Index rose 1.2%, while the Stoxx 600 Europe Food and Beverage Index declined 0.7%.

The REITE, a European REIT index, rose 0.2%.

On the national market indexes, Germany's DAX was up 1.5%, and the FTSE 100 in London gained 1.2%. The CAC 40 in Paris was down 0.6%, and Spain's IBEX 35 lifted 0.7%.

Yields on benchmark 10-year German bonds were steady, near 2.89%.

Front-month North Sea Brent crude-oil futures were down 0.2% at $73.80 a barrel.

The Euro Stoxx 50 volatility index was down 1.9% at 16.90, indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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Asia Markets

Update: Communication Services Helps Boost US Equity Indexes; Crude Oil Advances Amid Mixed Messaging on Iran Meeting

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes rose amid standout gains in communication services and consumer discretionary, and as crude oil advanced amid mixed messaging regarding a meeting to be held on Tuesday between Washington and Tehran in Doha, Qatar.The Nasdaq Composite jumped 2.1% to 25,820.14, the S&P 500 advanced 1.2% to 7,440.43, and the Dow Jones Industrial Average rose 0.6% to 52,182.74 on Monday.Technology was among the top three gainers, while materials led the decliners. Tesla (TSLA) and Alphabet (GOOG, GOOGL) were among the top 20 gainers in a category with a market capitalization of over $200 billion. The group's and the S&P 500 index's leader remained Corning (GLW), trading up 16% at the close.In geopolitical news, the United States and Iran on Monday separately announced they will send delegations to Qatar this week, though Tehran insisted it has not agreed to meet with the US "at any level" after attacks across the Persian Gulf over the weekend challenged negotiations to end the war, the Associated Press reported.Iran's foreign minister, Abbas Araghchi, reiterated that "Tehran retains exclusive authority over traffic through the Strait of Hormuz under the preliminary peace agreement, leaving the risk of renewed supply disruptions elevated," Saxo Bank said in a note. Marine traffic through the strait has modestly picked up in the last 36 hours, CNN cited ship tracking data."Disputes over key provisions of the memorandum of understanding -- particularly around control and potential costs for transit through Hormuz -- mean the situation remains fragile and risks to regional stability persist," Jim Reid, global head of macro research at Deutsche Bank, said in the note.Meanwhile, fighting between Hezbollah and Israel continued in Lebanon over the weekend despite a recent agreement between the countries, CNN reported Monday. Iran has demanded a full withdrawal of Israeli forces from Lebanon as part of a final deal with the US.The front-month global benchmark North Sea Brent rose 1.1% to $72.78 per barrel, and the US West Texas Intermediate climbed 1.8% to $70.47 per barrel.Most US Treasury yields rose, with the two-year up 1.9 basis points to 4.11%. The 10-year rate was slightly higher at 4.38%.Gold futures slumped 1.6% to $4,029.5, and silver futures dropped 1.5% to $58.31.In economic news, the Dallas Fed's monthly manufacturing index fell to zero in June from 0.4 in May, missing expectations for an increase to 1.0. The other manufacturing readings already released indicate expansion.In company news, Rocket Lab (RKLB) agreed to acquire satellite communications provider Iridium Communications (IRDM) in a cash-and-stock deal valued at about $8 billion to create a vertically integrated space company. Shares of Rocket Lab soared almost 16%, making it the Nasdaq's second-biggest gainer.Meanwhile, UBS adjusted Astera Labs' (ALAB) price target to $400 from $205 while maintaining its neutral stock rating. Astera's shares were up more than 16%, the top gainer on the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$ALAB$GLW$GOOG$GOOGL$IRDM$RKLB$TSLA
Asia Markets

Update: US Equity Indexes Rise as Communication Services Tops Sector Charts, Trump Sends Envoys to Qatar for Iran Talks

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes rose amid standout gains in communication services and consumer discretionary in midday trading on Monday, and as a meeting was announced between Washington and Tehran in Doha, Qatar, after both warring sides agreed to halt strikes over the weekend.The Nasdaq Composite jumped 1.8% to 25,754.6, the S&P 500 rose 1% to 7,425.1, and the Dow Jones Industrial Average advanced 0.5% to 52,157.4.Technology was among the top three gainers intraday. Tesla (TSLA), Alphabet (GOOG, GOOGL), and Meta Platforms (META) were among the top 20 gainers in a category with a market capitalization of over $200 billion. The group's leader was Corning (GLW), trading up 14%.Materials and real estate led the decliners.In geopolitical news, President Donald Trump said the US will meet with Iran in Doha, Qatar, on Tuesday, after US officials said both sides agreed to "stand down for now" and that negotiations remained on track following strikes over the weekend, CNN reported Monday, adding that Iran has not confirmed that talks will take place.Iran's foreign minister, Abbas Araghchi, reiterated that "Tehran retains exclusive authority over traffic through the Strait of Hormuz under the preliminary peace agreement, leaving the risk of renewed supply disruptions elevated," Saxo Bank said in a note.The front-month global benchmark North Sea Brent rose 1.9% to $74.01 per barrel, and the US West Texas Intermediate climbed 2.4% to $70.86 per barrel.Most US Treasury yields rose, with the two-year up 2.5 basis points to 4.11%. The 10-year rate was slightly higher at 4.38%.Gold futures slumped 1.4% to $4,038.9, and silver futures dropped 1.8% to $58.18.In economic news, the Dallas Fed's monthly manufacturing index fell to 0.0 in June from 0.4 in May, missing expectations for an increase to 1.0. The other manufacturing readings already released indicate expansion.In company news, Rocket Lab (RKLB) agreed to acquire satellite communications provider Iridium Communications (IRDM) in a cash-and-stock deal valued at about $8 billion to create a vertically integrated space company. Shares of Rocket Lab climbed past 15%, making it among the Nasdaq's top gainers.Meanwhile, UBS adjusted Astera Labs' (ALAB) price target to $400 from $205 while maintaining its neutral stock rating. Astera's shares were up 14%, the top gainer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$ALAB$GLW$GOOG$GOOGL$IRDM$META$RKLB$TSLA
Asia Markets

Exchange-Traded Funds Mixed, US Equities Rise After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM fell while IVV rose. Actively traded Invesco QQQ Trust (QQQ) rose 2.1%.US equity indexes rose amid standout gains in communication services and consumer discretionary in midday trading on Monday.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 0.2%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) added 1.8%; iShares US Technology ETF (IYW) rose 2.1%, and iShares Expanded Tech Sector ETF (IGM) was up 2.1%.The State Street SPDR S&P Semiconductor (XSD) gained 2.3%, and iShares Semiconductor (SOXX) was up 3.3%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 0.7%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 1%.CommoditiesCrude oil rose 2.4%, and the United States Oil Fund (USO) added 2.1%. Natural gas slipped 1.4%, and the United States Natural Gas Fund (UNG) was down 3.5%.Gold on Comex dropped 1.5%, and the State Street SPDR Gold Shares (GLD) fell 1.1%. Silver was down 1.3%, and iShares Silver Trust (SLV) shed 1.1%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) lost 0.7%. The Vanguard Consumer Staples ETF (VDC) fell 0.7%, and iShares Dow Jones US Consumer Goods (IYK) was down 0.4%.The State Street Consumer Discretionary Select Sector SPDR (XLY) added 2.2%. VanEck Retail ETF (RTH) gained 0.4%, and the State Street SPDR S&P Retail (XRT) eased 1%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) fell 0.2%, iShares US Healthcare (IYH) dipped 0.1%, and Vanguard Health Care ETF (VHT) was down 0.1%. IShares Biotechnology ETF (IBB) gained 0.2%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 0.7%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) added 0.3%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 0.7%, ProShares Ether ETF (EETH) was up 0.4%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.9% lower.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH