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Climbed to a record close, settling near 51,670, after a US-Iran framework to reopen the Strait of Hormuz sent oil prices tumbling.

Japan

Update: US Equity Indexes Jump, Crude Oil Slides as Washington Strikes Iran to Keep Hormuz Out of Tehran's Control

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes rose as technology topped sector charts and crude oil slumped following Washington's continuing strikes to degrade Iran's capability to attack commercial ships transiting the Strait of Hormuz.The Nasdaq Composite advanced 1.3% to 26,199.2, the S&P 500 climbed 0.8% to 7,539.9, and the Dow Jones Industrial Average marched 0.2% higher to 52,442.4 ahead of Thursday's close. Technology and consumer discretionary led the gainers, while consumer staples and energy paced the decliners.US Central Command overnight hit 90 Iranian military targets, according to its social media post on X, after striking 80 on the previous night following Iran's attacks on three commercial ships transiting the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows. On Wednesday, before the second round of strikes on Iran, US Vice President JD Vance said: "If Iran tries to close the strait down, there's going to be a response [from] the American military. That's the deal."Iran's foreign minister, Abbas Araghchi, spoke with the foreign ministers of Saudi Arabia, Turkey, and Oman, as well as Pakistan's army chief, Field Marshal Asim Munir, the Associated Press reported Thursday, citing Araghchi's Telegram channel. The minister repeated Iran's assertion that the US has violated the interim peace deal, while the US said that Iran broke the deal by firing on commercial ships transiting the Strait of Hormuz, according to the report."The question confronting traders is whether Iran is willing to return to large-scale kinetic war with the US and its allies if necessary to strengthen its claim of control over the Strait of Hormuz, something that it has apparently not been granted by way of any diplomatic negotiations so far," Thierry Wizman, global foreign-exchange and rates strategist at Macquarie, said in a note Thursday.The front-month global benchmark North Sea Brent dropped 2.9% to $75.78 a barrel, and the US West Texas Intermediate declined 2.8% to $71.50 a barrel in the final leg of trading.

Dow JonesNasdaq CompositeS&P 500
Update: US Equities Rise Intraday in Tech-Led Advance as Oil Prices Ease
US Markets

Update: US Equities Rise Intraday in Tech-Led Advance as Oil Prices Ease

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday as the technology sector advanced led by chip-related stocks, while oil prices retreated.The Nasdaq Composite was up 1.2% at 26,172.9 after midday Thursday, while the S&P 500 rose 0.8% to 7,541.2. The Dow Jones Industrial Average added 0.3% to 52,508.8. Among sectors, tech paced the gainers, up 1.9%, while consumer staples saw the steepest decline.Micron Technology's shares (MU) were up 7.8% intraday, the third-top gainer on the S&P 500. The company said Thursday it plans to invest up to $3 billion in the US semiconductor supply chain.Other chipmakers also advanced, including ON Semiconductor (ON), Marvell Technology (MRVL), Advanced Micro Devices (AMD), and Intel (INTC).West Texas Intermediate crude oil was down 2.2% at $71.94 per barrel intraday, while Brent dropped 2.4% to $76.16.The US launched fresh strikes Thursday on Iran, CNN reported, citing Iran's state news agency, IRNA.The US Central Command said Wednesday its forces completed another round of strikes against Iran, having struck Tehran earlier in the week after it attacked three tankers that crossed the Strait of Hormuz.US President Donald Trump said Wednesday he was no longer interested in negotiating with Iran, saying he believed the recent memorandum of understanding signed between the two countries to end their war was over.The renewed tensions between the US and Iran could be "relatively short-lived" given constraints faced by both countries, according to Macquarie Group."The US is constrained by the risk that higher oil prices could return with fewer mitigation sources available as time goes on and the risk that Iran could materially damage (Middle East) oil infrastructure," Vikas Dwivedi, global energy strategist at Macquarie, said in a report e-mailed to. "Likewise, Iran has come through the negotiations with (arguably) a great deal. We would be surprised if they overplay a good hand and test (President) Trump's patience and restraint for minimal remaining gain."US Treasury yields were lower intraday, with the two-year rate down 3.5 basis points at 4.17% and the 10-year rate falling 2.8 basis points to 4.54%.PepsiCo (PEP) reported fiscal second-quarter results above Wall Street's estimates on Thursday, although soft consumer spending in the US weighed on its North American performance. The stock was down 2.9% intraday.Simply Good Foods (SMPL) lifted its full-year sales outlook as the nutritional snacking company recorded better-than-expected fiscal third-quarter results. The stock was up 3.2%.In economic news, applications for unemployment insurance in the US unexpectedly declined last week as labor market conditions appeared to hold steady, government data showed Thursday.Existing home sales in the US unexpectedly decreased in June as the median price reached an all-time high, data from the National Association of Realtors showed.Gold was up 1.5% at $4,142.70 per troy ounce, while silver gained 4% to $60.91 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$INTC$MRVL$MU$ON$PEP$SMPL
Asia Markets

Update: US Equity Indexes Rise as Washington Aims to Prevent Iran From Gaining Control of Hormuz

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes rose amid gains in technology and as crude oil fell in the aftermath of Washington degrading Iran's capability to attack commercial ships transiting the Strait of Hormuz.The Nasdaq Composite advanced 0.9% to 26,109.6, the S&P 500 climbed 0.7% to 7,531.4, and the Dow Jones Industrial Average marched 0.3% higher to 52,498.1 after midday Thursday. Technology and financials led the gainers, while consumer staples and energy paced the decliners.US Central Command overnight hit 90 Iranian military targets, according to its social media post on X, after striking 80 on the previous night following Iran's attacks on three commercial ships transiting the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows.On Wednesday, before the second round of strikes on Iran, US Vice President JD Vance said: "If Iran tries to close the strait down, there's going to be a response [from] the American military. That's the deal."Tehran on Thursday said it had attacked US military sites in Bahrain, Kuwait, and Qatar in response to the new US strikes on infrastructure, according to reports from Reuters and Al Jazeera, a Middle Eastern broadcaster. Iran fired 10 ballistic missiles at Jordan's Azraq military base, Al Jazeera reported, citing the Islamic Revolutionary Guard Corps. The IRGC launched the missile strike targeting the "US command-and-control center," Al Jazeera cited an IRGC statement carried by Iran's semi-official news agency, Fars."The question confronting traders is whether Iran is willing to return to large-scale kinetic war with the US and its allies if necessary to strengthen its claim of control over the Strait of Hormuz, something that it has apparently not been granted by way of any diplomatic negotiations so far," Thierry Wizman, global foreign-exchange and rates strategist at Macquarie, said in a note Thursday.The front-month global benchmark North Sea Brent slid 2.1% to $76.35 a barrel, and the US West Texas Intermediate declined 2.1% to $72.00 a barrel.The CBOE Volatility Index, also known as the fear gauge, dropped 5.1% to 16.04.Most US Treasury yields fell, with the 10-year down 2.4 basis points to 4.54% and the two-year declining 3.1 basis points to 4.17%. Investors are weighing a worsening geopolitical environment and the Federal Reserve's meeting minutes released Wednesday, which showed diversity in views on the monetary policy path ahead.Gold futures advanced 1.5% to $4,142.3, and silver futures jumped 4% to $60.89.In economic news, US initial jobless claims fell sequentially to 215,000 in the week ended July 4 from an upwardly revised 217,000, compared with expectations for 217,000 in a Bloomberg-compiled survey. The four-week moving average declined by 3,750 to 218,750.In company news, PepsiCo (PEP) reported fiscal Q2 results above Wall Street's estimates on Thursday, although soft consumer spending in the US weighed on its North American performance. Shares fell 3.3%, among the laggards on the Nasdaq.Paramount's (PSKY) $110 billion acquisition of Warner Bros. Discovery (WBD) could face lawsuits from US states to block the deal as soon as next week, Reuters reported, citing two sources familiar with the matter. Shares of Paramount dropped 4.8%, the worst performer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$PEP$PSKY$WBD
Asia Markets

Exchange-Traded Funds Higher as US Equities Rise After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV rise. Actively traded Invesco QQQ Trust (QQQ) added 1.5%.US equity indexes were higher after midday Thursday, with technology sector rising and crude oil prices lower amid worries over renewed US-Iran tensions.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each lost about 1%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) rose 2.4%; iShares US Technology ETF (IYW) added 1.6%, and iShares Expanded Tech Sector ETF (IGM) was up 2.2%.The State Street SPDR S&P Semiconductor (XSD) climbed up 5%, and iShares Semiconductor (SOXX) gained 4.9%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 1.2%. Direxion Daily Financial Bull 3X Shares (FAS) advanced 3.5%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 3.6%.CommoditiesCrude oil dipped 2%, and the United States Oil Fund (USO) fell 2.7%. Natural gas lost 6%, and the United States Natural Gas Fund (UNG) was down 6.2%.Gold on Comex rose 1.5%, and the State Street SPDR Gold Shares (GLD) added 1.2%. Silver was up 4%, and iShares Silver Trust (SLV) was 3.4% higher.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) slipped 1.1%. The Vanguard Consumer Staples ETF (VDC) fell 1.1%, and iShares Dow Jones US Consumer Goods (IYK) was down 1.2%.The State Street Consumer Discretionary Select Sector SPDR (XLY) rose 0.8%. VanEck Retail ETF (RTH) shed 0.7%, and the State Street SPDR S&P Retail (XRT) gained 0.9%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) fell 0.4%, iShares US Healthcare (IYH) lost 0.2%, and Vanguard Health Care ETF (VHT) was down 0.3%. IShares Biotechnology ETF (IBB) was up 0.2%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) rose 0.8%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) added 0.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) gained 0.6%, ProShares Ether ETF (EETH) rose fractionally, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 2.6% lower.

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
Japan

Update: US Equity Indexes Rise as Washington Escalates Attacks to Prevent Iran From Gaining Control of Hormuz

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes rose amid gains in technology and as crude oil declined following Washington's attempt to keep the Strait of Hormuz functioning freely by degrading Tehran's firepower to attack commercial ships in the critical waterway.The Nasdaq Composite advanced 0.5% to 25,994.3, the S&P 500 climbed 0.5% to 7,516.34, and the Dow Jones Industrial Average marched 0.6% higher to 52,470.2 after midday Thursday. Technology and financials led the gainers, while a trio of decliners included energy.US Central Command overnight hit 90 Iranian military targets, according to its social media post on X, after striking 80 on the previous night following Iran's attacks on three commercial ships transiting the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows.Iran said it had attacked US military sites in Bahrain, Kuwait, and Qatar in response to the new US strikes on infrastructure, according to reports from Reuters and Al Jazeera, a Middle Eastern broadcaster. Iran fired 10 ballistic missiles at Jordan's Azraq military base, Al Jazeera reported, citing the Islamic Revolutionary Guard Corps. The IRGC launched the missile strike targeting the "US command-and-control center," Al Jazeera cited an IRGC statement carried by Iran's semi-official news agency, Fars."The question confronting traders is whether Iran is willing to return to large-scale kinetic war with the US and its allies if necessary to strengthen its claim of control over the Strait of Hormuz, something that it has apparently not been granted by way of any diplomatic negotiations so far," Thierry Wizman, global foreign-exchange and rates strategist at Macquarie, said in a note.The front-month global benchmark North Sea Brent fell 0.7% to $77.42 a barrel, and the US West Texas Intermediate declined 1% to $72.77 a barrel.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Thursday as Chip Stocks Rebound Despite US-Iran Tensions

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.3%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.9% in Thursday's premarket activity, as investors returned to chip stocks while monitoring escalating tensions between Washington and Tehran.US stock futures were mixed, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.6% before the start of regular trading.US initial jobless claims fell to a level of 215,000 in the week ended July 4 from an upwardly revised 217,000 level in the previous week, compared with expectations for a level of 217,000 in a survey of analysts compiled by Bloomberg.The existing home sales data will be released at 10:00 am ET, followed by natural gas stocks data at 10:30 am ET.New York Federal Reserve President John Williams and Dallas Fed President Lorie Logan are slated to speak on Thursday.In premarket action, bitcoin was up by 0.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.8% higher, Ether ETF (EETH) advanced 0.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.4%, while the Vanguard Industrials Index Fund (VIS) was up 0.3% and the iShares US Industrials ETF (IYJ) was flat.FuelCell Energy (FCEL) stock was up more than x% before the opening bell after the company and Siemens agreed to collaborate on fuel cell-based power generation.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.3%, the Vanguard Health Care Index Fund (VHT) was 0.9% higher, while the iShares US Healthcare ETF (IYH) gained by 0.2%. The iShares Biotechnology ETF (IBB) was up 0.8%.AstraZeneca (AZN) stock was down more than 8% premarket, and Ionis Pharmaceuticals (IONS) fell over 20% after the partners said a phase 3 trial for eplontersen in patients with transthyretin-mediated amyloid cardiomyopathy, or ATTR-CM, failed to meet the primary efficacy endpoint.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1.8%, the iShares US Technology ETF (IYW) was 1.4% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 3.9%, while the iShares Semiconductor ETF (SOXX) rose 4.9%.Applied Materials (AMAT) shares were up more than 4% in premarket activity after Nikkei Asia reported, citing CEO Gary Dickerson, that the company is seeing stronger long-term visibility into semiconductor equipment demand as major chipmakers share production plans extending well beyond 2027.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated by 1.1%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.3%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.3% lower.Levi Strauss (LEVI) shares were down nearly 4% early Thursday after the company's new full-year earnings outlook fell short of analyst estimates even as its fiscal Q2 results topped views.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.Broadridge Financial Solutions (BR) shares traded up 1% in early hours activity after the company said that Centralised Raiffeisen International Services & Payments, the shared services center of Raiffeisen Bank International, has upgraded to its cloud-based BRx Match reconciliation platform.EnergyThe iShares US Energy ETF (IYE) gained 1.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.3%.Sempra (SRE) stock was down more than 1% before market open. The company said Wednesday that its Sempra Infrastructure unit shipped the first liquefied natural gas cargo from the ECA LNG Phase 1 project in Mexico, marking a milestone ahead of the facility's expected commercial operations later this summer.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 0.4% to $73.82 per barrel on the New York Mercantile Exchange. Natural gas was down by 0.8% to $3.19 per 1 million British Thermal Units. The United States Oil Fund (USO) retreated by 0.4%, while the United States Natural Gas Fund (UNG) was 0.8% lower.Gold futures for July rose 1% to $4,122.20 an ounce on the Comex. Silver futures advanced by 1.9% to $59.67 an ounce. SPDR Gold Shares (GLD) increased 0.8%, and the iShares Silver Trust (SLV) was 1.8% higher.

Dow JonesNasdaq CompositeS&P 500$AMAT$AZN$BETH$BITO$BR$EEM$EETH$EXI$FAS$FAZ$FCEL$GLD$IBB$IGM$IGV$IONS$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LEVI$PMR$QQQ$RTH$SLV$SOXX$SPY$SRE$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

Update: US Equity Futures Edge Higher Pre-Bell Amid Re-Escalation of Middle East Hostilities

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Thursday as traders observed the recent rise in hostilities between the US and Iran, which threatened to derail peace talks between the two nations.Dow Jones Industrial Average futures were flat, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.9% higher.In a post on X, US Central Command said it completed a second round of strikes, hitting 90 more Iranian military targets. The US military had struck 80 Iranian targets the day before in response to Iran's attacks on three commercial ships transiting the Strait of Hormuz.President Donald Trump told reporters that Iran had reached out and "badly" wanted to make a deal to halt the escalating hostilities in the Middle East. Trump said he does not know if the two nations are returning to an all-out conflict, but added that the US would win "very quickly" if the war resumed.Traders also digested the latest round of earnings, with PepsiCo (PEP) posting higher fiscal Q2 core earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.9% at $78.71 per barrel and US West Texas Intermediate crude 0.8% higher at $74.09 per barrel.Initial jobless claims dropped to 215,000 in the week ended July 4 from 217,000 in the previous week, compared with expectations for no change in a survey compiled by Bloomberg.The existing home sales report, scheduled for release at 10 am ET, is expected to show an increase of 1.0% for June after a gain of 3.2% in the prior month.New York Federal Reserve President John Williams and Dallas Fed President Lorie Logan are slated to speak on Thursday.In other world markets, Japan's Nikkei closed 1.4% higher, Hong Kong's Hang Seng ended 0.7% lower, and China's Shanghai Composite finished 1.7% higher. Meanwhile, the UK's FTSE 100 was down 0.6%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.In equities, Costco Wholesale (COST) shares fell 1.7% after the company posted June net sales of $29.2 billion, up almost 11% from $26.4 billion a year earlier, and maintained its quarterly dividend at $1.47 a share.PepsiCo stock was down 2.5% after the company reported its fiscal Q2 financial results.Ionis Pharmaceuticals (IONS) and partner AstraZeneca (AZN) shares fell 19% and 7.8%, respectively, after they said a phase 3 trial for eplontersen in patients with transthyretin-mediated amyloid cardiomyopathy failed to meet the primary efficacy endpoint.On the winning side, Micron Technology (MU), AMD (AMD), and Intel (INTC) stocks rose as part of a broader rally in the semiconductor sector. Micron shares climbed 6.4%, AMD stock was up 4%, and Intel shares were 5.3% higher.Applied Materials (AMAT) shares rose 7.1% after a Nikkei Asia report citing CEO Gary Dickerson as saying that the company is seeing stronger long-term visibility into semiconductor equipment demand as major chipmakers share production plans extending well beyond 2027.

Dow JonesNasdaq CompositeS&P 500$AMAT$AMD$AZN$COST$INTC$IONS$MU$PEP
Japan

US Equity Futures Mixed Pre-Bell Amid Re-Escalation of Middle East Hostilities

US equity futures were mixed pre-bell Thursday as traders observed the recent rise in hostilities between the US and Iran, which threatened to derail peace talks between the two nations.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.7% higher.In a post on X, US Central Command said it completed a second round of strikes, hitting 90 more Iranian military targets. The US military had struck 80 Iranian targets the day before in response to Iran's attacks on three commercial ships transiting the Strait of Hormuz.President Donald Trump told reporters that Iran had reached out and "badly" wanted to make a deal to halt the escalating hostilities in the Middle East. Trump said he does not know if the two nations are returning to an all-out conflict, but added that the US would win "very quickly" if the war resumed.Traders also digested the latest round of earnings, with PepsiCo (PEP) posting higher fiscal Q2 core earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.5% at $78.46 per barrel and US West Texas Intermediate crude 0.4% higher at $73.82 per barrel.The weekly jobless claims bulletin is expected to show 217,000 new unemployment claims for the week ended July 4, up from 215,000 in the prior week, according to estimates compiled by Bloomberg.The existing home sales report, scheduled for release at 10 am ET, is expected to show an increase of 1.0% for June after a gain of 3.2% in the prior month.New York Federal Reserve President John Williams and Dallas Fed President Lorie Logan are slated to speak on Thursday.

Dow JonesNasdaq CompositeS&P 500$PEP
Equity Futures Mostly Rise as Markets Assess Renewed Middle East Tensions
US Markets

Equity Futures Mostly Rise as Markets Assess Renewed Middle East Tensions

US equity markets were mostly pointing higher before the opening bell Thursday as traders weighed rising tensions between Washington and Iran.S&P 500 futures ticked up 0.1% and the Nasdaq rose 0.6% in premarket activity, while the Dow Jones Industrial Average edged down 0.2%. The Dow finished Wednesday trading with its sharpest single-day decline in four weeks. The S&P also closed lower, while the Nasdaq was up.The US Central Command said Wednesday its forces completed another round of strikes against Iran to "further degrade" its ability to attack commercial shipping through the Strait of Hormuz. The US struck Iran earlier in the week after Tehran attacked three tankers that crossed the crucial waterway.US President Donald Trump said Wednesday he was no longer interested in negotiating with Iran, saying he believed the recent memorandum of understanding signed between the two countries to end their war was over.West Texas Intermediate crude oil nudged 0.4% higher to $73.80 a barrel before the open Thursday, while Brent gained 0.5% to $78.41."The latest escalation in US-Iran military tensions this week raises new risks," ING Bank said in a report. "Vessels transiting the Strait of Hormuz remain well below pre-war levels, (and) recent developments show that safe passage of vessels is still an issue facing the market."On Wednesday, minutes from the Federal Reserve's June policy meeting showed that central bank officials held diverging views on the appropriate path of interest rates. At that meeting, the Federal Open Market Committee unanimously decided to maintain the policy rate steady for the fourth consecutive time.US Treasury yields were higher in premarket action Thursday, with the 10-year rate increasing 1.8 basis points to 4.59% and the two-year rate rising one basis point to 4.20%.Thursday's economic calendar has the weekly jobless claims bulletin at 8:30 am ET, followed by the existing home sales report for June at 10 am. New York Fed President John Williams is scheduled to speak at 9 am.Shares of Broadcom (AVGO) added 1.6% pre-bell after closing Wednesday with a 4.8% rise, as Apple (AAPL) confirmed the semiconductor manufacturer will produce chips to be used in the iPhone maker' products in a deal likely worth more than $30 billion.Nvidia (NVDA) inclined 0.1%, while Arista Networks (ANET) advanced 1.3%.PepsiCo (PEP) declined 1.3%, as the beverage and snacking giant reported its latest quarterly results early Thursday. Simply Good Foods (SMPL) also posts its earnings pre-bell, while WD-40 (WDFC) is slated to announce its results after the markets close.Gold rose 0.8% to $4,114 per troy ounce, while bitcoin traded up 1% at $62,784.

Dow JonesNasdaq CompositeS&P 500$AAPL$ANET$AVGO$NVDA$PEP$SMPL$WDFC
Asia Markets

Tech Shares Firm On Wall Street Pre-Bell; Asia Mixed, Europe Up

Wall Street futures pointed moderately higher pre-bell Thursday, following media reports that SK Hynix's pending initial US listing is more than seven times oversubscribed.The South Korean chipmaker is selling 177.9 million American depositary shares (ADS) on Wall Street, expected to raise about $24.5 billion.In the futures, the S&P 500 rose 0.1%, the Nasdaq inclined 0.5%, but the Dow Jones was off 0.1%.The VanEck Semiconductor ETF (SMH) was up 2% pre-bell.Crude prices were relatively steady despite Persian Gulf turmoils, with West Texas Intermediate up 0.2% at $73.69 in pre-bell action.Asian exchanges churned overnight as tech shares staged gains, while European bourses tracked moderately north midday on the continent.On the economic calendar is the weekly jobless claims bulletin at 8:30 am ET, followed by the existing home sales report for June at 10 am, and the weekly EIA natural gas report at 10:30 am.New York Federal Reserve President John Williams and Dallas Fed President Lorie Logan are slated to speak on Thursday.In premarket action, Bitcoin traded at $62,832, and 10-year US Treasuries offered 4.58%. Spot gold commanded $4,105 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Update: US Equity Indexes Recover From Session Lows as Iran Strikes Designed to Stop Islamic Republic From Hormuz Attacks

(Updates with index/price moves, macroeconomic data, and political news from the first paragraph.)US equity indexes closed off session lows after President Donald Trump said strikes against Tehran should not be interpreted as a return to full-scale war, and his Deputy JD Vance signaled Washington is attempting to stop Iran from attacking maritime traffic in the Strait of Hormuz.The Dow Jones Industrial Average dropped 1.1% to 52,348.39, with the S&P 500 down by 0.3% to 7,482.71 on Wednesday. The Nasdaq Composite rose 0.2% to 25,870.65, after trading about 1% lower intraday. Technology and energy were the only gainers. Materials, real estate, and consumer discretionary led the decliners.The CBOE Volatility Index jumped 4.8% to 16.90, retreating from a gain of about 13% around midday.The US has launched more strikes against Iran "to further degrade their ability to threaten freedom of navigation in the Strait of Hormuz," US Central Command said Wednesday, according to CNN. Iranian state media reported explosions in several cities, including Bushehr, Chabahar, Konarak, Bandar Abbas, and Sirik.Trump had said earlier in the day that the latest back-and-forth fighting would not result in "long-term" military action, according to the Associated Press.US Vice President JD Vance has warned Iran of a military response if it attempts to block the Strait of Hormuz, Al Jazeera, a Middle Eastern broadcaster, reported. "If Iran tries to close the strait down, there's going to be a response [from] the American military. That's the deal," said Vance."They can either follow it [terms of the June memorandum of understanding], or they can have exactly what happened last night. It's just gonna keep on happening until they open up that lane and stop shooting at ships," Vance told a news briefing in Washington, D.C., according to Al Jazeera.The front-month global benchmark North Sea Brent soared 6.8% to $79.19 a barrel, and the US West Texas Intermediate advanced 6.1% to $74.70 a barrel.Most US Treasury yields rose, but came off their highest for the day. The two-year yield was up 5.6 basis points to 4.22%, and the 10-year traded 5.2 basis points higher at 4.58%.Gold futures dropped 1.6% to $4,091.7, and silver futures slumped 4.3% to $58.70, partially recovering intraday lossesIn economic news, the June 16-17 meeting of the Federal Open Market Committee showed widespread disagreement among participants, according to the minutes released Wednesday."Most participants remarked on scenarios in which inflationary pressures would dissipate and inflation would soon begin to return to 2%," the minutes showed. "In such scenarios, almost all of these participants noted that it would likely be appropriate to maintain or eventually lower the target range for the federal funds rate."However, some policymakers noted that outcomes such as stable labor market conditions and elevated inflation, driven by AI-related demand, further conflict in the Middle East, and tariffs, could result in monetary tightening to ease inflation to the Fed's 2% target.

Dow JonesNasdaq CompositeS&P 500
Update: Dow Logs Worst Day in 4 Weeks Amid Renewed US-Iran Tensions
US Markets

Update: Dow Logs Worst Day in 4 Weeks Amid Renewed US-Iran Tensions

(Updates with market moves at the end of the day and latest developments.)The Dow Jones Industrial Average logged its sharpest single-day decline in four weeks in a mixed session on Wednesday, as oil prices rallied after President Donald Trump warned of additional attacks on Iran.The Dow fell 1.1% to 52,348.4, its biggest percentage fall since June 10. The S&P 500 declined 0.3% to 7,482.7, while the Nasdaq Composite edged up 0.2% to 25,870.7. Barring energy and technology, all sectors were in the red led by materials.West Texas Intermediate crude oil was up 5.1% at $74.01 per barrel in Wednesday late-afternoon trade, while Brent jumped 5.8% to $78.46.During a North Atlantic Treaty Organization summit in Turkey on Wednesday, Trump said the memorandum of understanding signed with Iran last month to end the war in the Middle East was "over."The US struck Iran on Tuesday after Tehran attacked three tankers that crossed the Strait of Hormuz. Iran's Islamic Revolutionary Guard Corps hit US military targets across Bahrain and Kuwait in retaliation to Washington's attacks, CNN reported.Trump warned of more attacks on Iran."We hit them very hard last night," Trump said in Turkey. "We'll probably hit them hard again tonight."A peace deal between the US and Iran is a key risk to watch in the second half of 2026 as energy prices may determine inflation expectations, Oxford Economics Chief Global Economist Ryan Sweet said in remarks emailed to."If the peace deal breaks, and it's too early to tell, it won't just raise oil prices; it would also increase pressure on (artificial intelligence) supply chains in Asia, force central banks to be hawkish, tighten financial conditions, and could shift the outcome of the US midterms," Sweet said. "The cascade runs fast."US Treasury yields were higher, with the two-year rate increasing 4.4 basis points to 4.21% and the 10-year rate adding 4.2 basis points to 4.57%.Federal Reserve officials held diverging views last month on the appropriate path of interest rates, minutes from the central bank's June policy meeting showed Wednesday. At that meeting, the Federal Open Market Committee unanimously decided to maintain the policy rate steady for the fourth consecutive time."The June minutes put the focus on an uncertain balance of risks," TD Economics said in a report. "Participants agreed on holding rates steady in June, but not on whether the next move is more likely to be up or down, making future meetings more 'live' and dependent on incoming data."The International Monetary Fund lowered global economic growth expectations for 2026 as the impact of the Middle East war will likely counter a boost from rising artificial intelligence adoption.In company news, Apple (AAPL) said Wednesday that Broadcom (AVGO) will produce chips to be used in the iPhone maker' products in a deal likely worth more than $30 billion. Shares of Apple rose 0.9%, among the biggest gainers on the Dow, while Broadcom advanced 4.8%.Nvidia (NVDA) shares advanced 3.7%, the best performer on the Dow.Alibaba Group (BABA), ByteDance, and DeepSeek could receive permission from China to purchase a limited volume of Nvidia H200 chips to offset a shortage due to increasing demand for artificial intelligence chips, The Information reported Wednesday, citing sources with knowledge of the matter.Moderna (MRNA) slumped 7.5%, the second-worst performer on the S&P 500.Major US biopharmaceutical companies' performance in the second half of the year is likely to be driven largely by fundamentals as the focus shifts away from economic factors, Morgan Stanley said in a note.Gold shed 1.7% to $4,087.30 per troy ounce, while silver lost 4.2% to $58.75 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AVGO$BABA$MRNA$NVDA
Japan

US Equity Markets Mixed After Trump Warns of Additional Strikes on Iran

US equity indexes closed mixed Wednesday after President Donald Trump warned of more strikes on Iran, though he said it wouldn't amount to a full-scale war, softening earlier comments suggesting the ceasefire with Tehran "is over."* Trump threatened Wednesday to unleash additional military strikes against Iran after saying Tehran's attacks on commercial ships signaled the end of the ceasefire, the Associated Press reported. He later said the most recent exchange of fire did not herald a return to full-scale war.* According to minutes released from Kevin Warsh's first meeting as Federal Reserve chairman in mid-June, policymakers are sharply divided on the future path of interest rates. Some anticipate that cooling inflation may allow cuts, while others warn that persistent price pressures might spur increases.* August West Texas Intermediate crude oil rose $3.78 to settle at $74.22 per barrel, while September Brent crude, the global benchmark, was last seen up $4.55 at $78.71.* Alibaba (BABA), ByteDance, and DeepSeek may receive permission from China to buy a limited volume of Nvidia (NVDA) H200 chips to offset a shortage of AI chips, The Information reported. Nvidia shares rose 3.7%, the biggest gain on the Dow Jones Industrial Average.* Major US biopharmaceutical companies' H2 performance is likely to be driven largely by fundamentals as the focus shifts away from economic factors, Morgan Stanley said. Moderna's (MRNA) shares slumped 7.5%, the second-biggest drop on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$BABA$MRNA$NVDA
Japan

Update: US Equity Indexes Mixed as Trump's Threats to Strike Iran Unlikely to Escalate Into Full-Scale War

(Updates with index/price moves and political news from the first paragraph.)US equity indexes traded mixed, off session lows, after President Donald Trump warned of more strikes on Iran that would not signal a return to full-scale war, watering down his earlier comments that the peace deal with the Islamic republic "is over."The Dow Jones Industrial Average dropped 1.1% to 52,314.1, with the S&P 500 down by 0.4% to 7,477.1 ahead of Wednesday's close. The Nasdaq Composite was little changed at 25,825.9.President Donald Trump threatened Wednesday to unleash more military strikes against Iran after saying that Tehran's attacks on commercial ships signaled the end of the ceasefire, the Associated Press reported. But he later said the most recent exchange of fire with the Islamic Republic did not herald a return to full-scale war.He said Wednesday that the US would "probably hit them hard again tonight," and later added that the latest back-and-forth fighting would not result in "long-term" military action, the news report said.The US West Texas Intermediate jumped 4.8% to $73.84 a barrel, off session highs.

Dow JonesNasdaq CompositeS&P 500
Update: Wall Street Falls Intraday as Trump Threatens to Hit Iran Again
US Markets

Update: Wall Street Falls Intraday as Trump Threatens to Hit Iran Again

(Updates with latest market prices and developments.)US stocks were lower intraday after President Donald Trump threatened additional attacks on Iran, sending oil prices sharply higher.The Dow Jones Industrial Average was down 1.2% at 52,311.4 after midday Wednesday, while the S&P 500 shed 0.4% to 7,473.7. The Nasdaq Composite edged down 0.1% to 25,784.6. Barring energy and technology, all sectors were in the red led by materials.West Texas Intermediate crude oil was up 5.9% at $74.59 per barrel intraday, while Brent jumped 6.5% to $78.99.During a North Atlantic Treaty Organization summit in Turkey on Wednesday, Trump said the memorandum of understanding signed with Iran last month to end the war in the Middle East was "over."The US struck Iran on Tuesday after Tehran attacked three tankers that crossed the Strait of Hormuz. Iran's Islamic Revolutionary Guard Corps hit US military targets across Bahrain and Kuwait in retaliation to Washington's attacks, CNN reported.Trump warned of more attacks on Iran."We hit them very hard last night," Trump said in Turkey. "We'll probably hit them hard again tonight.""The escalation threatens fragile negotiations aimed at securing a permanent peace, with both sides accusing the other of violating the ceasefire," Saxo Bank said in a report Wednesday. "Brent has moved back above $76, potentially triggering further short covering among hedge funds."US Treasury yields were higher intraday, with the two-year rate increasing 6.7 basis points to 4.23% and the 10-year rate adding 5.8 basis points to 4.59%.The Federal Reserve is scheduled to publish minutes of its June policy meeting at 2 pm ET, to be assessed for fresh insights on the central bank's monetary policy. At the meeting, policymakers kept their benchmark lending rate steady for a fourth consecutive time.The International Monetary Fund lowered global economic growth expectations for 2026 as the impact of the Middle East war will likely counter a boost from rising artificial intelligence adoption.In company news, Apple (AAPL) said Wednesday that Broadcom (AVGO) will produce chips to be used in the iPhone maker' products in a deal likely worth more than $30 billion. Shares of Apple were up 0.5%, among the biggest gainers on the Dow, while Broadcom advanced 5.9%, the second-best performer on the S&P 500.Moderna (MRNA) slumped 6.2%, the worst performer on the S&P 500.Major US biopharmaceutical companies' performance in the second half of the year is likely to be driven largely by fundamentals as the focus shifts away from economic factors, Morgan Stanley said in a note.Gold shed 2.5% to $4,066.8 per troy ounce, while silver lost 5% to $58.26 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AVGO$MRNA
Asia Markets

Exchange-Traded Funds Lower as US Equities Fall After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV fell. Actively traded Invesco QQQ Trust (QQQ) lost 0.2%.US equity indexes fell while volatility surged with crude oil and government bond yields after President Donald Trump warned of more strikes on Iran after saying a peace deal signed in June "is over."EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 1.1%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) rose 0.5%; iShares US Technology ETF (IYW) added 0.1%, and iShares Expanded Tech Sector ETF (IGM) was up 0.2%.The State Street SPDR S&P Semiconductor (XSD) climbed up 1.7%, and iShares Semiconductor (SOXX) gained 1.7%.FinancialThe State Street Financial Select Sector SPDR (XLF) fell 1.5%. Direxion Daily Financial Bull 3X Shares (FAS) dropped 4.6%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 4.6%.CommoditiesCrude oil rose 6.1%, and the United States Oil Fund (USO) added 3.7%. Natural gas lost 1.4%, and the United States Natural Gas Fund (UNG) was down 1.2%.Gold on Comex dipped 2.2%, and the State Street SPDR Gold Shares (GLD) fell 1.2%. Silver was down 5.1%, and iShares Silver Trust (SLV) was 3.8% lower.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) slipped 0.1%. The Vanguard Consumer Staples ETF (VDC) eased 0.2%, and iShares Dow Jones US Consumer Goods (IYK) was down 0.6%.The State Street Consumer Discretionary Select Sector SPDR (XLY) fell 2%. VanEck Retail ETF (RTH) eased 0.3%, and the State Street SPDR S&P Retail (XRT) dipped 1.7%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) fell 0.8%, iShares US Healthcare (IYH) lost 1%, and Vanguard Health Care ETF (VHT) was down 0.9%. IShares Biotechnology ETF (IBB) shed 1.4%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) dipped 1.1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 2.8%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) lost 2.7%, ProShares Ether ETF (EETH) was down 3.6%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 2.8% lower.

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
Asia Markets

Update: US Equity Indexes Decline, Crude Oil Jumps as Trump's Threats to Strike Iran Again Elevate Geopolitical Risk

(Updates with index/price moves, macroeconomic data, and political news from the first paragraph.)US equity indexes fell while volatility jumped with crude oil and government bond yields after President Donald Trump warned of more strikes on Iran after saying a peace deal signed in June "is over"The Dow Jones Industrial Average dropped 1.2% to 52,294.8, with the Nasdaq Composite down 0.2% to 25,760.5, and the S&P 500 lower by 0.5% to 7,469.1 after midday Wednesday.Energy was the standout gainer, with Valero Energy (VLO), Occidental Petroleum (OXY), and Phillips 66 (PSX) leading the S&P 500. Chevron (CVX) was the Dow's top gainer. On Nasdaq, the top spot went to Baker Hughes (BKR).The CBOE Volatility Index jumped 6% to 17 after Trump said, per a Bloomberg report, the US would probably launch further strikes on Iran and could resume a blockade on the country's ports.American forces launched strikes against more than 80 targets in Iran, including air defense systems, command-and-control networks, coastal radar installations and anti-ship missile capabilities, in response to recent attacks on commercial shipping in the Strait of Hormuz, according to a Deutsche Bank note on Wednesday. The strikes were accompanied by the US Treasury's decision to revoke a waiver that had allowed new Iranian oil sales, it said."We hit them very hard last night," Trump said Wednesday on the sidelines of a summit of the North Atlantic Treaty Organization leaders in Ankara, Turkey. "Probably hit them hard again tonight."The front-month global benchmark North Sea Brent soared 7% to $79.37 a barrel, and the US West Texas Intermediate surged 6.9% to $75.29 a barrel.After the burial ceremony of Iran's Supreme Leader Ayatollah Ali Khamenei - killed by an Israeli strike at the outset of the conflict - ends on July 9, both warring sides could adopt an even harder stance, driving a further uptick in geopolitical risk premiums, according to a note from Rystad Energy."Even if no sustained physical disruption materializes, uncertainty around vessel safety, insurance costs, potential delays, and the risk of further retaliation is likely to keep volatility elevated in the near term," the Rystad note said.US Treasury yields rose, reflecting market concern that higher crude oil prices, driven by a supply shock, will make it harder for the Federal Reserve to fight inflation. The two-year yield jumped 5.8 basis points to 4.22%, and the 10-year climbed 6.2 basis points to 4.59%.Inflation concerns also sent gold futures down 2.7% to $4,045.6 and silver futures lower by 5.5% to $57.98.In economic news, the minutes from the Fed's policy meeting on June 16-17 are due at 2 pm ET. Investors will parse the views on the direction of interest rates at a time when the market is pricing in hikes. The probability of a 25-basis-point increase in rates is the highest among all other policy outcomes in September, October, and December, the CME FedWatch tool showed Wednesday.Meanwhile, in company news, Apple (AAPL) said Wednesday that Broadcom (AVGO) will produce chips for use in the iPhone maker's products in a deal likely worth more than $30 billion.

Dow JonesNasdaq CompositeS&P 500$AAPL.AVGO$BKR$CVX$OXY$PSX$VLO
Japan

Update: US Equity Indexes Slide, Crude Oil Surges After Trump Threatens More Strikes on Iran

(Updates with index/price moves and political news from the first paragraph.)US equity indexes slumped while volatility surged with crude oil and government bond yields after President Donald Trump warned of more strikes on Iran after saying a peace deal signed in June "is over"The Dow Jones Industrial Average dropped 1.5% to 52,107.8, with the Nasdaq Composite down 1% to 25,572.5, and the S&P 500 lower by 1% to 7,434.1 after midday Wednesday.Energy was the standout gainer, with Valero Energy (VLO), Occidental Petroleum (OXY), and Phillips 66 (PSX) leading the S&P 500. Chevron (CVX) was the Dow's top gainer. On Nasdaq, the top spot went to Baker Hughes (BKR).The CBOE Volatility Index jumped 13% to 18.18 after Trump said, per a Bloomberg report, the US would probably launch further strikes on Iran and could resume a blockade on the country's ports."We hit them very hard last night," Trump said Wednesday on the sidelines of a summit of the North Atlantic Treaty Organization leaders in Ankara, Turkey. "Probably hit them hard again tonight."The front-month global benchmark North Sea Brent soared 7% to $79.37 a barrel, and the US West Texas Intermediate surged 6.9% to $75.29 a barrel.US Treasury yields rose, with the two-year yield jumping 5.8 basis points to $4.22% and the 10-year climbing 6.2 basis points to 4.59%.

Dow JonesNasdaq CompositeS&P 500$BKR$CVX$OXY$PSX$VLO
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Wednesday as Trump Declares US-Iran Agreement Over

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.5%, and the actively traded Invesco QQQ Trust (QQQ) retreated 0.8% in Wednesday's premarket activity, as President Donald Trump's declaration that the interim US-Iran agreement had ended fueled concerns about renewed conflict, sending oil prices higher and weighing on risk assets.US stock futures were also lower, with S&P 500 Index futures down 0.9%, Dow Jones Industrial Average futures slipping 1.1%, and Nasdaq futures falling 1.3% before the start of regular trading.Mortgage applications fell by 2.2% in the week ended July 3, with refinancing activity and new home applications both pushed lower by an uptick in average 30-year fixed mortgage rates, according to Mortgage Bankers Association data released Wednesday.May's wholesale inventories data will be released at 10:00 am ET, followed by the weekly oil stocks data at 10:30 am ET.The minutes of the June 16-17 Federal Open Market Committee meeting are slated for a 2:00 pm ET release.May consumer credit data posts at 3:00 pm ET.In premarket action, bitcoin was down by 2.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.2% lower, Ether ETF (EETH) retreated 2.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.5%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) fell about 1.5%.FuelCell Energy (FCEL) stock was down more than 19% before the opening bell after the company priced its offering of about 10.7 million common shares at $21 per share for gross proceeds of $225 million.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.8%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained by 0.8%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.9%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.2%.Alibaba Group (BABA) shares surged more than 9% pre-bell after news reports of a positive pre-earnings business update showing narrowing losses, and a Bloomberg News report of a victory in a US federal court.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.3% higher.Banco Santander (SAN) shares traded down 3% in early hours activity, extending losses after a 1.3% fall in the previous day's session. The Financial Times reported that the bank has overhauled its Asia-Pacific corporate and investment banking business, removing its top banker in Beijing, tightening employee oversight, and cutting staff perks as part of a cost-cutting driveHealth CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.1%, the Vanguard Health Care Index Fund (VHT) rose 1%, while the iShares US Healthcare ETF (IYH) slipped 0.1%. The iShares Biotechnology ETF (IBB) was 0.3% lower.AstraZeneca (AZN) stock was down more than 1% premarket after gaining 1.6% at the prior close. Sino Biopharmaceutical said AstraZeneca has signed a deal worth up to $2.1 billion with its Chia Tai Tianqing Pharmaceutical unit to develop, manufacture, and commercialize the chronic respiratory disease drug candidate TQC3721.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.1%, and the iShares US Technology ETF (IYW) was 0.8% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 1.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) fell 2%, while the iShares Semiconductor ETF (SOXX) declined by 1.4%.Intel (INTC) shares were down more than 1% in premarket activity, after a 9.7% fall in Tuesday's close. SambaNova Systems, backed by Intel, said it raised $1 billion in the first close of its Series F funding round at an $11 billion valuation, with General Atlantic leading the investment.EnergyThe iShares US Energy ETF (IYE) rose 3.1%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1.4%.Petrobras (PBR) stock was up more than 1% before market open after the company said that it signed a settlement agreement with Brazil's oil regulator, ANP, to bring 335 offshore wells into compliance with well integrity regulations by Dec. 31, 2030.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 5.2% to $74.09 per barrel on the New York Mercantile Exchange. Natural gas was down by 0.6% to $3.29 per 1 million British Thermal Units. The United States Oil Fund (USO) gained by 2.1%, while the United States Natural Gas Fund (UNG) was 1.2% higher.Gold futures for July were down by 2.1% to $4,070.30 an ounce on the Comex. Silver futures retreated by 3.6% to $59.13 an ounce. SPDR Gold Shares (GLD) decreased by 0.8%, and the iShares Silver Trust (SLV) was 2.7% lower.

Dow JonesNasdaq CompositeS&P 500$AZN$BABA$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$FCEL$GLD$IBB$IGM$IGV$INTC$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PBR$PMR$QQQ$RTH$SAN$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

Update: US Equity Futures Fall Pre-Bell as Middle East Hostilities Restart, President Trump Declares US-Iran Ceasefire 'Over'

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures fell pre-bell Wednesday as President Donald Trump declared that the US ceasefire with Iran was "over" amid escalating hostilities in the region once again, sending oil prices soaring.Dow Jones Industrial Average futures were 0.9% lower, S&P 500 futures were down 0.6%, and Nasdaq futures were 0.8% lower.In a post on X, US Central Command said it struck 80 Iranian targets, including air defense systems and radar sites, as a response to Iran's attacks on three commercial ships transiting the Strait of Hormuz. The US also revoked a license that allowed Iran to sell oil around the world.Iran's Islamic Revolutionary Guard Corps said that they had targeted US military sites in Bahrain and Kuwait. The renewed conflict in the region has caused at least four oil and gas tankers to turn back from their attempt to pass by the waterway, according to a Reuters report citing date from Kpler and LSEG.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.5% at $77.45 per barrel and US West Texas Intermediate crude 4.3% higher at $73.46 per barrel.Traders await the minutes of the June 16-17 Federal Reserve policy session, the first under new chair Kevin Warsh, scheduled for release at 2pm ET.In other world markets, Japan's Nikkei closed 2.1% lower, Hong Kong's Hang Seng ended 3% higher, and China's Shanghai Composite finished 0.5% lower. Meanwhile, the UK's FTSE 100 was down 1%, and Germany's DAX index was 1.7% lower in Europe's early afternoon session.In equities, Walmart (WMT) shares rose nearly 1% after the company lowered prices on essentials and groceries, including beef, fresh produce, beverages and other products as part of a summer rollback measure, following an announcement from Trump that the retailer would lower its prices "by a lot" at his administration's request to celebrate the country's 250th birthday.The increase in oil prices boosted energy stocks in premarket activity. Exxon Mobil (XOM) shares were 1.3% higher, Chevron (CVX) stock was up 1.5%, and ConocoPhillips (COP) shares climbed 1.5%.On the losing side, airline stocks dropped on concerns over fuel costs and demand. Delta Air Lines (DAL) shares fell 2.3%, United Airlines (UAL) stock was down 2.9%, and Southwest Airlines (LUV) shares declined 2.2%.

Dow JonesNasdaq CompositeS&P 500$COP$CVX$DAL$LUV$UAL$WMT$XOM

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