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US Equity Markets End Lower After Govt Bond Yields Rise Following Fed Chair Warsh's Comments on Inflation

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US equity indexes ended lower Friday after government bond yields rose following Federal Reserve Chairman Kevin Warsh's statement that inflation is the more concerning part of the central bank's dual mandate.

* "The Fed's price-stability objective of 2%, as measured by the personal consumption expenditures price index, is a firm, fixed target," Warsh said, speaking at the annual Jackson Hole Economic Policy Symposium.

* Mediators in the Iran war are stepping up efforts to get the Strait of Hormuz reopened, with Tehran agreeing to draw up a list of conditions to restore normal traffic after the Qatari prime minister asked the Iranians to respect freedom of navigation, Reuters reported.

* The University of Michigan consumer sentiment index was revised upward on Friday to 51.7 for August from 51.0 in the preliminary estimate, compared with expectations of no revision in a survey compiled by Bloomberg.

* October West Texas Intermediate crude oil fell $0.15 to settle at $83.38 per barrel, while October Brent crude, the global benchmark, was last seen down $0.33 at $89.37.

* Workday (WDAY) shares were up about 5.8%, the top gainer on the S&P 500, after it raised the low end of its full-year subscription revenue outlook following fiscal Q2 results above Wall Street's estimates.

* Paypal (PYPL) shares were down roughly 13%, the worst performer on the S&P 500, after Bloomberg News reported that Advent and Stripe have backed out of their bid to buy the company.

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US Equity Markets End Higher After Technology Sector Gains Following Nvidia Results

US equity indexes ended higher Thursday after the technology sector saw gains led by Nvidia's (NVDA) Q2 results.* Nvidia shares were up about 8.7%, among the top gainers across all three main indexes, after fiscal Q2 earnings and revenue more than doubled from a year earlier, and Q3 sales outlook beat estimates.* Qatar's foreign ministry said it is in discussions with Iran over 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," Al Jazeera reported.* US initial jobless claims fell to 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 in the previous week, in contrast with expectations for an increase to 208,000 in a survey of analysts compiled by Bloomberg.* October West Texas Intermediate crude oil rose $1.44 to settle at $83.67 per barrel, while October Brent crude, the global benchmark, was last seen up $1.90 at $89.74.* Salesforce (CRM) shares were up roughly 23%, the top gainer on the S&P 500 and the Dow, after the company reported higher fiscal Q2 adjusted earnings and revenue, and lifted its fiscal 2027 outlook.* Hormel Foods (HRL) shares were down nearly 10%, the worst performer on the S&P 500, after the company lowered its fiscal 2026 sales outlook and reported mixed Q3 results with sales falling amid soft consumer demand.

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Update: Technology Pushes US Equity Indexes Higher Following Nvidia's Blockbuster Guidance

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes advanced after Nvidia's (NVDA) strong fiscal Q2 results boosted mega-caps in the technology sector.The Nasdaq Composite jumped 1.3% to 26,466.9, the S&P 500 climbed 0.6% to 7,719.3, and the Dow Jones Industrial Average edged up 0.1% to 53,542.5 ahead of Thursday's close. All sectors, except technology, declined. Consumer staples and consumer discretionary were among the worst performers.Shares of Nvidia jumped past 8%, among the top gainers across all three mainstream indexes, after fiscal Q2 earnings and revenue more than doubled from a year earlier and 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 leader 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.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", Al Jazeera 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 2.1% to $83.93 per barrel, and global benchmark North Sea Brent jumped 2.6% to $90.11 per barrel.

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Update: Technology Lifts US Equity Indexes After Nvidia's Blowout Quarterly Results

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes rose after Nvidia's (NVDA) strong fiscal Q2 results helped boost the technology sector.The Nasdaq Composite jumped 1.34% to 26,477.8, the S&P 500 climbed 0.6% to 7,722.09, and the Dow Jones Industrial Average advanced 0.3% to 53,614 after midday Thursday.Shares of Nvidia jumped 8.9%, among the top gainers across all three mainstream indexes, after the company posted fiscal Q2 earnings and revenue that more than doubled from a year earlier, and issued a fiscal Q3 revenue forecast above analysts' expectations.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.CrowdStrike (CRWD) soared 17%, also one of the biggest gainers on the three indexes, after the company reported higher fiscal Q2 adjusted earnings and revenue, and raised its fiscal 2027 revenue outlook.Among companies with market capitalizations exceeding $200 billion each, all top 10 names by intraday returns were in the technology sector, according to data compiled by Finviz. Of those 10 firms, almost all were from either the software or semiconductor industries.In the Middle East, about 6 million to 8 million barrels a day of crude oil are now being shipped through the Strait of Hormuz, Bloomberg reported, citing estimates from traders monitoring cargo activity. Flows slipped in July, when an onslaught of Iran's attacks on supertankers led to the breakdown of an interim ceasefire agreement between Washington and Tehran and heightened risks to navigation, the news report said, adding that flows remain at roughly half prewar levels.Qatar's Foreign Ministry said Iran and Qatar 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.The front-month US West Texas Intermediate crude oil contract climbed 0.5% to $82.61 per barrel, and global benchmark North Sea Brent jumped 1% to $88.77 per barrel.

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