FINWIRES · TerminalLIVE
FINWIRES

US Equity Markets Extend Rally to Records on AI Momentum, Jobs Data

By

US equity indexes closed higher Tuesday as the three major gauges extended a rally to records, fueled by the AI boom and stronger-than-expected jobs data.

* US job openings rose to 7.618 million in April, according to the Bureau of Labor Statistics, above the 6.866 million expected in a Bloomberg poll and up from the 6.887 million reported in March.

* Redbook US same-store sales last week rose 9% from a year earlier, matching the pace in the previous week.

* July West Texas Intermediate crude oil rose $1.56 to settle at $93.72 per barrel, while August Brent crude, the global benchmark, was last seen up $1.12 at $96.08 amid conflicting reports of the status of peace talks between Washington and Tehran.

* Marvell Technology (MRVL) shares surged 32%, the biggest gain on the Nasdaq, after multiple news outlets reported the chipmaker was dubbed the next trillion-dollar company by Nvidia (NVDA) CEO Jensen Huang.

Hewlett Packard Enterprise (HPE) shares jumped 19%, a day after as the company lifted its full-year outlook and reported stronger-than-expected fiscal second-quarter results.

* Intuit (INTU) shares fell 9%, the second-largest drop on the Nasdaq, after Goldman Sachs downgraded the stock to sell from neutral and cut its price target to $276 from $519.

Related Articles

Japan

US Equity Indexes Mixed as Confusion Surrounds Status of Iran Peace Talks

US equity indexes traded mixed amid conflicting reports of the status of peace talks between Washington and Tehran, while parts of Lebanon are rumored to remain under Israeli attack.The Nasdaq Composite was little changed at 27,082.2, giving up intraday gains ahead of the close on Tuesday. The S&P 500 edged up 0.1% to 7,610.3, and the Dow Jones Industrial Average climbed 0.5% to 51,352.6.Iran stopped communicating with mediators about extending a ceasefire in the war with the US and Israel, two semiofficial Iranian news agencies reported Tuesday, but President Donald Trump disputed the claim and said talks were continuing, according to the Associated Press.CNN, however, reported that Iranian media outlets have signaled talks between Tehran and Washington are ongoing, a day after reports that Iran suspended them. The country's top negotiator has threatened escalation if Israel's attacks on Lebanon continue, the news report added.Washington won't remove sanctions on Iran in exchange for a full reopening of Hormuz, adding that any sanctions relief is conditioned on Iran giving up enriched uranium, Al Jazeera cited US Secretary of State Marco Rubio as saying on Tuesday at a Senate hearing.The fourth round of talks between Israel and Lebanon is underway in Washington, DC, where Lebanese negotiators hope to secure a halt to attacks on and occupation of the south, Al Jazeera reported on the same day. The Israeli army has carried out several attacks on the southern Lebanese Nabatieh governorate, the news report added.Brent crude futures climbed 1% to $95.94, and West Texas Intermediate crude oil futures jumped 1.5% to $93.51. Both crude types were lower by more than 1% each earlier in the session.Shares of Hewlett Packard Enterprise (HPE) surged nearly 19%, the top gainer on the S&P 500, after the tech giant reported fiscal Q2 earnings ahead of analysts' forecasts.Marvell Technology's (MRVL) shares soared 30%, the biggest outperformer on the Nasdaq, after multiple news outlets reported that Nvidia (NVDA) chief executive officer Jensen Huang called the chipmaker the next "trillion-dollar company."

$^DJI$^IXIC$^SPX$HPE$MRVL$NVDA
Japan

US Equity Indexes Rise as Investors Assess Middle East Developments While Technology Extends Gains

US equity indexes ground higher in midday trading on Tuesday as investors weighed the response from Israel and Hezbollah to President Donald Trump's call to stop fighting in Lebanon, while technology extended gains.The Nasdaq Composite climbed 0.2% to 27,141.2, with the S&P 500 up 0.2% to 7,614.3, and the Dow Jones Industrial Average higher by 0.2% to 51,190.5.Utilities and technology were among the gainers intraday, while communication services led the decliners. Shares of Hewlett Packard Enterprise (HPE) surged 17%, the top gainer on the S&P 500, after the tech giant reported fiscal Q2 earnings ahead of analysts' forecasts.US President Donald Trump said he believes a deal to reopen the Strait of Hormuz and extend the ceasefire with Iran is reachable "over the next week," CNN reported.Lebanese authorities said Hezbollah, an Iran-backed militant group, agreed to a US proposal for a ceasefire with Israel in which strikes on Beirut would stop, the news report said. Trump declared Israeli forces would not move on Beirut after a call with Prime Minister Benjamin Netanyahu, it added.Israel and Lebanon are engaged in discussions at the US State Department after Hezbollah and Israel continued to trade strikes overnight, CNN reported.Brent crude futures edged up 0.1% to $95.10, and West Texas Intermediate crude oil futures climbed 0.2% to $92.35. Both crude types were lower by more than 1% each earlier in the session.

$^DJI$^IXIC$^SPX$HPE
Japan

US Futures Edge Lower Tuesday as Investors Continue to Monitor Middle East Conflict, Await Key Labor Data

US stock futures were tracking slightly lower in Tuesday's pre-market session as investors continue to monitor any signs of a possible peace deal to end Middle East fighting, and look ahead to key labor market data set for release later in the morning.The Dow Jones Industrial Average futures were down 0.2%, S&P 500 futures were 0.4% lower, and Nasdaq futures were off 0.1%.Oil prices were moving lower, with front-month global benchmarks Brent crude declining 1.18% to $93.86 a barrel, while West Texas Intermediate crude was down 1.19% to $91.06 a barrel.Investors will be looking ahead to the Job Openings and Labor Turnover Survey (JOLTS) for April, set to be released at 10 am ET, which will give investors a good indication on the strength of the US labor market. The reading is expected to remain unchanged at 6.866 million job openings.

$^DJI$^IXIC$^SPX