US President Donald Trump said Tuesday he has agreed to allow the Strait of Hormuz to remain open with no further naval blockade.
"However, all ships are remaining in place should it be necessary to reinstitute the blockade, which seems, at this point, highly unlikely," Trump said in a social media post.
Financial stocks were advancing in late Monday afternoon trading, with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) increasing 0.5%.The Philadelphia Housing Index shed 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) gained 1.3%.Bitcoin (BTC-USD) was adding 0.3% to $64,280, and the yield for 10-year US Treasuries rose 5.8 basis points to 4.509%.In corporate news, Carlyle (CG) is working with its portfolio managers to proactively evaluate and then possible de-risk assets from weather-related damages, Bloomberg reported. Carlyle shares were down 0.3%.Morgan Stanley (MS) has identified two sites within the city of Dallas for a phased approach to establishing a large-scale operational hub, according to a city document. Morgan Stanley shares rose 1.8%.Lloyds (LYG) is preparing for a potential bid to buy Aldermore, which has been put up for sale by its parent company FirstRand Group, Sky News reported. Lloyds shares climbed up 3.5%.Robinhood (HOOD) shares fell 2.2% after the company said it plans to offer $2 billion worth of convertible senior notes due 2029 in a private placement.
Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.6%.The Philadelphia Semiconductor index rose 1.3%.In corporate news, Micron Technology (MU) shares gained 5% after it said Monday it is collaborating with Anthropic for memory and storage AI architecture design, product supply, and enterprise adoption of Claude, alongside an investment in Anthropic's series H funding round.Dell (DELL) shares climbed 1.6% after it introduced the PowerEdge XE8812, a new server designed to handle large AI-computing workloads and built with Nvidia's (NVDA) Vera Rubin platform.Alphabet's (GOOGL) Google DeepMind data scientist and Nobel Prize winner John Jumper is leaving to join Amazon (AMZN) and Alphabet-backed Anthropic, he said Friday. Alphabet shares were down 5.2%.STMicroelectronics (STM) shares rose 1.6% after the company said it released a new 3-dimensional light detection and ranging module designed for AI applications on small computing devices.
Healthcare stocks were higher late Monday afternoon, with the NYSE Healthcare Index rising 0.9% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.8%.The iShares Biotechnology ETF (IBB) climbed 1.7%.In corporate news, AbbVie (ABBV) has agreed to acquire Apogee Therapeutics (APGE) in an all-cash deal worth about $10.9 billion, as the drugmaker looks to boost its immunology portfolio and accelerate its clinical presence in the respiratory segment. AbbVie shares jumped past 6%, and Apogee surged 46%.Regenxbio (RGNX) shares jumped 18% after it said the US Food and Drug Administration has agreed on the next steps for a potential accelerated approval of Navsunli, its experimental gene therapy for Mucopolysaccharidosis II, following discussions related to its appeal of a complete response letter issued in February.Jaguar Health (JAGX) shares climbed 16% after the firm said Monday its board has started a process to explore strategic alternatives to maximize shareholder value.Vivos Therapeutics (VVOS) shares fell 14% after it said Monday it has extended its strategic financing agreement with Streeterville Capital through Aug. 31, giving it additional time to complete planned capital-raising efforts.