FINWIRES · TerminalLIVE
FINWIRES

Update: Communication Services, Consumer Discretionary Help Push US Equity Indexes Higher

By

(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 in midday trading on Monday.

The Nasdaq Composite jumped 1.4% to 25,646.1, the S&P 500 rose 0.8% to 7,412.5, and the Dow Jones Industrial Average advanced 0.5% to 52,123.5.

Technology was among the top three gainers intraday. 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.

The front-month global benchmark North Sea Brent rose 1.3% to $72.95 per barrel, and the US West Texas Intermediate climbed 1.9% to $70.52 per barrel.

Most US Treasury yields rose, with the 10-year up 1.1 basis points to 4.38%. The two-year rate jumped 2.9 basis points to 4.12%.

Gold futures slumped 1.6% to $4,032.5, and silver futures dropped 2.5% to $57.73.

Related Articles

Japan

ASX Midday Sector Update: Information Technology Stocks Jump, Utilities Sector Struggles

Information technology stocks jumped nearly 4% at midday Monday.Xero (ASX:XRO) gained more than 5% in recent trade.On the flip side, the utilities sector struggled, shedding almost 3%.Origin Energy (ASX:ORG) shares were down nearly 2% in recent trade.

ASX 200ASX:ORGASX:XRO
Japan

US Equity Markets End Lower Amid Technology Stocks Sell-Off

US equity indexes were lower on Friday amid a sell-off in technology stocks and despite a decline in crude oil prices following the Israel-Lebanon framework agreement.* Among stocks with a market capitalization of over $200 billion, 16 out of the 20 worst-performing stocks were technology firms.* The University of Michigan consumer sentiment index was revised up to 49.5 for June from 48.9 in the preliminary estimate, below expectations of 50.0 in a Bloomberg-compiled poll. The print was also above the final 44.8 in May.* August West Texas Intermediate crude oil fell $2.34 to settle at $69.58 per barrel, while August Brent crude, the global benchmark, was last seen down $3.05 at $72.21.* Moderna (MRNA) shares rose nearly 12%, the top gainer on the S&P 500, after the company said it plans to launch clinical development of in vivo CAR-T candidate mRNA-6007 in 2027. Multiple analysts also raised their price targets for the company.* Onsemi (ON) shares were down roughly 24%, the worst performer on the S&P 500, after the chipmaker agreed to acquire semiconductor company Synaptics (SYNA) in a deal valued at about $7 billion.

Dow JonesNasdaq CompositeS&P 500$MRNA$ON$SYNA
Japan

Update: US Equity Indexes Lower in Final Leg of Trading as Technology Slides With Crude Oil

(Updates with index/price moves data, and political news from the first paragraph.)US stocks traded lower as technology raced to the bottom of sector charts, while crude oil traded at levels last seen before the Iran war after a "framework agreement" was signed between Israel and Lebanon.The Nasdaq Composite fell 0.4% to 25,263.4 ahead of Friday's close. The Dow Jones Industrial Average edged down 0.1% to 51,847.5, while the S&P 500 was down 0.2% to 7,347.4.Technology and industrials led the four declining sectors intraday. Health care, consumer discretionary, and consumer staples were among the top gainers.In a category of stocks with a market capitalization of over $200 billion, 16 out of the 20 worst-performing stocks were technology firms. Western Digital (WDC), Seagate Technology (STX), and Sandisk (SNDK) were the steepest decliners, down by at least 8.2% each. In the sliding technology shares, more than half were semiconductor companies.In geopolitical news, negotiators from Lebanon and Israel signed a "framework agreement" on the handover of areas in Israeli-occupied southern Lebanon after US-mediated talks in Washington, DC., according to a Friday report from Al Jazeera, a Middle East news broadcaster.This comes as Arsenio Dominguez, the secretary-general of the UN's International Maritime Organization, said 115 vessels and 2,500 seafarers have been evacuated from the Strait of Hormuz since Tuesday, Al Jazeera reported.The front-month global benchmark North Sea Brent slumped 4.5% to $71.88 per barrel, and the US West Texas Intermediate retreated 3.8% to $69.19 per barrel, extending their declines to the lowest since the beginning of the Iran war.

Dow JonesNasdaq CompositeS&P 500$SNDK$STX$WDC