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Update: US Equity Indexes Rise as Nvidia's Blockbuster Guidance Helps Technology Offset Declines in Remaining Sectors

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(Updates with index/price moves, macroeconomic data and analyst comments from the first paragraph.)

US equity indexes advanced after Nvidia's (NVDA) strong fiscal Q2 results boosted mega-caps in the technology sector, helping outweigh declines in every other peer group.

The Nasdaq Composite jumped 1.6% to 26,541.35, the S&P 500 climbed 0.7% to 7,730.99, and the Dow Jones Industrial Average edged up 0.2% to 53,569.44 on Thursday. All sectors, except technology, declined. Consumer staples, healthcare and consumer discretionary were among the worst performers.

Shares of Nvidia jumped 8.7%, among the top gainers across all three mainstream indexes, after fiscal Q2 earnings and revenue more than doubled from a year earlier and its Q3 sales outlook beat estimates. Nvidia offered a surprisingly strong fiscal 2028 revenue outlook, while its gross margin guidance provided clarity amid rising memory costs, Morgan Stanley said in a note.

Salesforce (CRM) surged 23%, the lead on the S&P 500 and the Dow, after the company posted higher fiscal Q2 adjusted earnings and sales, and lifted fiscal 2027 guidance.

CrowdStrike (CRWD) soared 20%, one of the biggest gainers in the S&P 500 and Nasdaq, after the company reported higher fiscal Q2 adjusted earnings and revenue, and raised its full-year net new annual recurring revenue outlook. This is a "blowout quarter as AI demand inflects across the platform," according to a Truist Securities note.

Among companies with market capitalizations exceeding $200 billion each, nine of the top 10 names by daily returns were in the technology sector, with Salesforce leading the pack, according to data compiled by Finviz.

Qatar's foreign ministry said Iran and Doha discussed an agreement to implement a "joint project" to clear mines from the Strait of Hormuz as well as "efforts to reduce escalation and create appropriate conditions for dialogue," according to a report from Al Jazeera, a Middle Eastern broadcaster.

Iran's security chief, Mohsen Rezaei, said the "US must first take practical steps to fulfil Iran's conditions, and then Iran will proceed to open the Strait of Hormuz", according to Al Jazeera, which cited a report from the Islamic Republic News Agency. The former Islamic Revolutionary Guard Corps commander reiterated previous pledges by Tehran that if Washington "starts any evil", Iran would "bring disaster to its military and economic interests".

The front-month US West Texas Intermediate crude oil contract climbed 1.7% to $83.66 per barrel, and global benchmark North Sea Brent jumped 2.2% to $89.77 per barrel.

In economic news, the advance international trade in goods deficit widened to $118.81 billion in July from $101.41 billion in June, according to data released by the US Census Bureau, surpassing the $100.5 billion deficit expected in a survey compiled by Bloomberg.

US initial jobless claims fell to 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 in the previous week, versus expectations for an increase to 208,000 in a survey of analysts compiled by Bloomberg.

Most US Treasury yields edged up on Thursday. The 10-year yield inched up by less than one basis point to 4.67%, and the two-year was little changed at 4.23%.

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Update: US Equity Indexes Slip After Fed's Preferred Inflation Gauge Accelerates in July

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes slipped while most government bond yields edged up after the Federal Reserve's preferred inflation gauge swung higher in July.The Dow Jones Industrial Average fell 0.2% to 53,463.88, the S&P 500 edged less than 0.1% lower to 7,675.70, and the Nasdaq Composite declined less than 0.1% to 26,130.20. Industrials topped gainers while health, communication services and consumer discretionary led decliners.The headline personal consumption expenditure price index rose 0.2%, following a 0.1% slide in June, the Bureau of Economic Analysis reported Wednesday. That's above the consensus for a 0.1% gain in a Bloomberg-compiled survey, keeping the annual headline rate at 3.7%, which also exceeded the expected 3.6% print. The Fed's preferred core measure, which excludes food and energy, climbed 0.2% in July, as expected. That's faster than the June print of 0.1%. The annual core gauge held steady at 3.3%, as projected.Most US Treasury yields rose, with the 10-year yield up one basis point to 4.65%.The probability of the Federal Reserve extending its policy pause to December stood at 27% late Wednesday, according to the FedWatch tool, almost unchanged from a day ago. Currently, there is a 45% chance of interest rates moving up by 25 basis points to a 3.75% to 4% target rate by December and a 24% likelihood of the fed funds rate being raised by 50 basis points to 4% to 4.25% by the end of this year.On Tuesday, Boston Fed President Susan Collins said the central bank may have to tighten its monetary policy soon, unless inflation continues to cool.US gross domestic product rose 1.5% in Q2, unrevised from the advance estimate released last month, as expected in a survey compiled by Bloomberg. GDP climbed 2.1% in Q1. New orders for US durable goods advanced 1.1% in July, up from 0.5% in June, versus expectations for 0.5% in a survey compiled by Bloomberg.In geopolitical news, the Iranian military said it reached a revenue-sharing deal with Oman on the Strait of Hormuz, Bloomberg reported. "Agreements have been reached regarding each country's share of the strait's waters as well as Iran and Oman's share of its revenues," Bloomberg cited the Islamic Revolutionary Guard Corps' spokesman Hossein Mohebbi on the state-run Sepah News agency.However, Reuters cited the IRGC as saying the strait would not open unless the US met Tehran's conditions under an interim ceasefire agreement that was struck in June before unravelling. Those conditions include an end to the US blockade on Iranian ports, compensation and removal of sanctions, the news outlet said."We have our own tools, and we also know the game," Iran's Economy Minister Ali Madanizadeh said while referring to Tehran's experience circumventing US sanctions, according to a report from Al Jazeera, a Middle Eastern broadcaster. Tehran could potentially "go on the offensive" and was confident that many countries would effectively reject US President Donald Trump's threats to cut off all links with Iran, he added.The front-month US West Texas Intermediate crude oil contract retreated 0.7% to $81.82 per barrel, and global benchmark North Sea Brent declined 1.4% to $87.38 per barrel.In company news, Truist downgraded Nike (NKE) to hold from buy while adjusting its price target to $42 from $47. Shares of the sports footwear and apparel retailer were down 2.3%.Meta Platforms (META) has agreed to pay up to $16.68 billion to resolve claims brought by several US states that the tech giant used its platforms to "ensnare" youth and teens, according to a federal court filing.

Dow JonesNasdaq CompositeS&P 500$META$NKE$NVDA
Asia Markets

Update: US Equity Indexes Slip as Investors Await Nvidia's Earnings After July's PCE Inflation Rate Accelerates

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes fell while most government bond yields rose after the Federal Reserve's preferred inflation gauge accelerated sequentially in July and as investors awaited AI bellwether Nvidia's (NVDA) quarterly earnings after the bell.The Nasdaq Composite declined 0.2% to 26,074.5, the Dow Jones Industrial Average fell 0.3% to 53,442.1 and the S&P 500 edged 0.1% lower to 7,670.6 after midday Wednesday. Industrials and energy topped gainers while consumer discretionary and communication services led decliners.In economic news, the headline personal consumption expenditure price index rose by 0.2%, following a 0.1% decline in June, the Bureau of Economic Analysis reported Wednesday. That's above the consensus for a 0.1% gain in a Bloomberg-compiled survey, keeping the annual headline rate at 3.7%, which also exceeded the expected 3.6% print.The Fed's preferred core measure, which excludes food and energy, climbed 0.2% in July, as expected. That's faster than the June print of 0.1%. The annual core gauge held steady at 3.3%, as projected.The probability of the Federal Reserve extending its policy pause to December stood at 28% by Wednesday afternoon, according to the FedWatch tool, almost unchanged from a day ago. Currently, there is a 45% chance of interest rates moving up by 25 basis points to a 3.75% to 4% target rate by December and a 24% likelihood of the fed funds rate being raised by 50 basis points to 4% to 4.25% by the end of this year.On Tuesday, Boston Fed President Susan Collins said the central bank may have to tighten its monetary policy soon, unless inflation continues to cool.Most US Treasury yields rose. The 10-year yield rose 2.5 basis points to 4.66% and the two-year climbed 2.2 basis points to 4.23%.US economic growth, measured by gross domestic product, rose by 1.5% in Q2, unrevised from the advance estimate released last month, as expected in a survey compiled by Bloomberg. GDP rose by 2.1% in Q1. New orders for US durable goods rose 1.1% in July, up from 0.5% in the previous month, compared with expectations of a smaller increase of 0.5% in a survey compiled by Bloomberg.In geopolitical news, the Iranian military said it reached a revenue-sharing deal with Oman on the Strait of Hormuz, Bloomberg reported."Agreements have been reached regarding each country's share of the strait's waters as well as Iran and Oman's share of its revenues," Bloomberg cited the Islamic Revolutionary Guard Corps' spokesman Hossein Mohebbi on Wednesday as telling the state-run Sepah News agency.Reuters cited the IRGC as saying the strait would not open unless the US met Tehran's conditions under an interim ceasefire agreement that was struck in June before unravelling. Those conditions include an end to the US blockade on Iranian ports, compensation and removal of sanctions, the news outlet said.The front-month US West Texas Intermediate crude oil contract gained 0.5% to $82.76 per barrel, and global benchmark North Sea Brent rose 0.1% to $88.68 per barrel.In company news, Truist downgraded Nike (NKE) to hold from buy while adjusting its price target to $42 from $47. Shares of the sports footwear and apparel retailer were down 2.1%, the Dow's steepest decline.Meta Platforms (META) has agreed to pay up to $16.68 billion to resolve claims brought by several US states that the tech giant used its platforms to "ensnare" youth and teens, according to a federal court filing.

Dow JonesNasdaq CompositeS&P 500$META$NKE$NVDA
Asia Markets

Exchange-Traded Funds Fall as US Equities Decline After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) eased 0.2%.US equity indexes fell while most government bond yields rose after the Federal Reserve's preferred inflation gauge accelerated sequentially in July and as investors awaited Nvidia's (NVDA) quarterly earnings post-bell.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 1%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) rose 0.2%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) edged lower.The State Street SPDR S&P Semiconductor (XSD) was down 0.2%, while iShares Semiconductor (SOXX) slipped 0.1%.FinancialThe State Street Financial Select Sector SPDR (XLF) shed 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.3%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 0.4%.CommoditiesCrude oil gained 0.6%, and the United States Oil Fund (USO) added 1.8%. Natural gas rose 3.8%, and the United States Natural Gas Fund (UNG) was up 2.6%.Gold on Comex dipped 1%, and the State Street SPDR Gold Shares (GLD) shed 1.6%. Silver fell 1.1%, and iShares Silver Trust (SLV) eased 1.3%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) shed 0.1%. The Vanguard Consumer Staples ETF (VDC) fell 0.2%, while iShares Dow Jones US Consumer Goods (IYK) lost 0.1%.The State Street Consumer Discretionary Select Sector SPDR (XLY) fell 0.9%. VanEck Retail ETF (RTH) was down 0.6%, and the State Street SPDR S&P Retail (XRT) rose 0.4%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) dropped 0.8%. iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were also lower. IShares Biotechnology ETF (IBB) lost 0.3%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) gained 1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 1.1%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) dipped 1.2%, ProShares Ether ETF (EETH) was down 0.5%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) dropped 1%.

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