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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.

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Japan

US Equity Futures Fall Pre-Bell as US Threatens Iran's Trade Partners

US equity futures were edging lower pre-bell Thursday as traders monitored the situation in the Middle East, with the US announcing further economic pressure on Iran and threatening its trade partners.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.3% lower.President Donald Trump said that Iran will be subject to economic warfare "on an unprecedented scale," while also threatening economic consequences on any country that assists or does business with the Middle Eastern nation. "Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies - It all needs to stop NOW," Trump said in a post on Truth Social.Iran's Foreign Minister Seyed Abbas Araghchi in a post on X dismissed Trump's threat, calling it a diversion from America's challenges of "unprecedented debt & surging interest costs."Traders assessed the latest round of earnings, with Walmart (WMT) posting higher fiscal Q2 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.9% at $94.26 per barrel and US West Texas Intermediate crude 3.2% higher at $87.11 per barrel.The weekly jobless claims bulletin, slated for 8:30 am ET, is expected to show 210,000 new unemployment claims for the week ended Aug. 15, up from 209,000 in the prior week, according to estimates compiled by Bloomberg. The Philadelphia Fed's regional manufacturing index for August is seen coming in at 24.8, down from 41.4 posted previously.July's leading indicators data is scheduled to be released 10 am ET.

Dow JonesNasdaq CompositeS&P 500$WMT
Asia Markets

Firming Interest Rates, Higher Oil Dents Wall Street Pre-Bell; Asia Up, Europe Off

Wall Street futures inched lower Thursday pre-bell as interest rates on government debt again crept up, after easing on Wednesday following the US Treasury announcement that it would boost its bond-buying program.In the futures, the S&P 500 was down 0.1%, the Nasdaq fell 0.2% and the Dow Jones was off 0.3%.Yields on 10-year US Treasuries touched 4.69% in morning hours, while West Texas Intermediate crude oil futures traded up 3% to $86.93.Walmart (WMT) traded down 6.5% pre-bell after the retail colossus reported Q2 earnings and revenue above expectations and boosted guidance, but also logged relatively soft same-store comparable sales.Asian exchanges traded mostly higher overnight, while European bourses edged south midday on the continent.Nordson (NDSN) rose 5.9% pre-bell after the maker of adhesive-dispensing equipment reported fiscal Q3 earnings and revenue above estimates and boosted guidance late Wednesday.On the economic calendar are the weekly jobless claims report and the Philadelphia Fed Manufacturing Index for August, at 8:30 am ET.The Conference Board leading indicators bulletin for July logs at 10 am, and the weekly EIA natural gas report files at 10:30 am.In pre-market action, Bitcoin traded at $71,780. Spot gold commanded $4,489 an ounce.

Dow JonesNasdaq CompositeS&P 500
Update: Equities Snap 3-Day Losing Streak as Traders Parse July Fed Minutes
US Markets

Update: Equities Snap 3-Day Losing Streak as Traders Parse July Fed Minutes

(Updates with market moves at the end of the day, and other changes, if any.)Wall Street's main stock indexes rebounded Wednesday after a three-day slump, boosted by gains in the healthcare sector, while investors assessed the minutes of the Federal Reserve's July policy meeting.The S&P 500 and the Dow Jones Industrial Average climbed 0.2% each to 7,707.98 and 53,463.05, respectively. The Nasdaq Composite also gained 0.2%, closing at 26,331.09. Among sectors, healthcare topped the gainers, while industrials led the laggards.Moderna (MRNA) shares surged 177%, the biggest gain on the S&P 500, as a late-stage trial for a skin cancer treatment being developed in partnership with Merck (MRK) yielded positive topline results. Merck jumped nearly 13%, the best performer on the Dow and among the top gainers on the S&P 500.Fed officials acknowledged the need for an interest rate hike if inflation does not ease, minutes from the central bank's July meeting showed Wednesday. At the meeting last month, policymakers left interest rates unchanged in a divided decision, with three regional presidents calling for a hike of 25 basis points."The minutes suggest that other (non-voting) participants are on the same page. And that there is a palpable hawkish sentiment brewing in the committee," BMO said in a note. "But it will take inflation misbehaving to stir this sentiment further. Until then, the Fed will be holding indefinitely."Markets are currently pricing in a 67% probability that the Fed will keep its benchmark rate steady in September, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.Treasury yields were lower, with the 10-year yield down 6.5 basis points at 4.64% and the two-year yield falling 0.8 basis point to 4.17%.The Treasury Department said Wednesday that it will boost the size of its government debt repurchases, in what Jefferies Chief US Economist Thomas Simons described as a "surprise" move.The expanded buyback operation, which will focus on 10- to 30-year Treasuries, comes as the 30-year real yields recently broke through 3% for the first time in 24 years, Simons said."It looks like this move will probably help to keep a lid on long-end yields for the near-term," he said.West Texas Intermediate crude oil advanced 0.9% to $85.66 a barrel in Wednesday late-afternoon trade, while Brent rose 0.4% to $91.39.The United Arab Emirates suspended economic ties with Iran amid "regional escalations that undermine regional and international peace and security," UAE Foreign Ministry spokeswoman Afra Al Hameli said on X. The UAE is Iran's second-largest commercial partner, according to a CNN report."Oil prices extended gains for a fourth consecutive session on Wednesday as uncertainty over a resolution to the US-Iran conflict continued to support risk premiums," ING Bank said.In other corporate news, Keysight Technologies (KEYS) slumped 6.3%, among the notable laggards on the S&P 500. Late Tuesday, the electronics test and measurement equipment manufacturer provided a fiscal fourth-quarter earnings outlook above Wall Street's estimates and reported better-than-expected third-quarter results.Target (TGT) lifted its full-year outlook as tariff refunds helped double the retailer's fiscal second-quarter earnings year over year. Its shares jumped 4.3%.TJX (TJX) issued a fiscal third-quarter comparable store sales forecast that fell short of the Street expectations, but raised its full-year earnings outlook. The stock fell 4.2%.Spot gold jumped 4.1% to $4,510.40 per troy ounce, while silver climbed 3.8% to $66.48 per ounce.

Dow JonesNasdaq CompositeS&P 500$KEYS$MRK$MRNA$TGT$TJX
Asia Markets

US Equity Indexes Rise After Most FOMC Participants Support Rate Hold, Treasury Boosts Buybacks

US equity indexes rose on Wednesday after most Federal Open Market Committee participants agreed to maintain the federal funds rate at 3.50% to 3.75%, and the US Treasury said it would ramp up buybacks of long-dated government debt to at least $4 billion per operation in September.The Nasdaq Composite rose 0.1% to 26,331.09, and the S&P 500 gained 0.2% to 7,707.98. The Dow Jones Industrial Average increased 0.2% to 53,463.05. Health and consumer discretionary led the gainers, while industrials and technology sectors led the decliners.The yield on 30-year Treasuries fell 10.1 basis points to 5.18%, while the 10-year yield fell 6.7 basis points to 4.64%.Gold futures gained 3.3% to $4,566.6 per ounce, and silver futures rose 3.8% to $66.475.While FOMC participants acknowledged that inflation remained elevated, most of them expected it to simmer over the remainder of the year as the effects of tariffs and earlier energy price hikes fade. They also observed that economic activity continued to expand at a solid pace while labor market conditions appeared stable.President Donald Trump also paused tariffs on certain Canadian goods in a Truth Social post. He also said the Keystone XL Pipeline, which was canceled in 2021, may be revived. The tariff play comes ahead of negotiations for the US-Mexico-Canada Trade Agreement.In economic news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 900,000 barrels in the week ended Aug. 14, following an increase of 11.3 million barrels in the prior week.The US West Texas Intermediate crude oil contract rose 0.8% to $85.63 per barrel.US mortgage applications fell by 0.4% in the week ended Aug. 14, with an increase in refinancing activity offset by declining home purchase applications, according to the Mortgage Bankers Association."In addition to the economic uncertainty, affordability difficulties have reemerged as a reason for homebuyers to delay purchase decisions given the impact of higher mortgage rates on monthly mortgage payments," said MBA deputy chief economist Joel Kan.In company news, Moderna (MRNA) shares climbed 177%, and Merck (MRK) shares gained 12.6% after the companies said a trial of intismeran autogene combined with Keytruda met the primary endpoint of recurrence-free survival and a key secondary endpoint of distant metastasis-free survival in patients with completely resected stage IIB-IV melanoma.Target (TGT) shares rose 4.3% after the company posted higher-than-expected fiscal Q2 results and lifted its 2026 guidance. The company reported fiscal Q2 adjusted earnings of $4.11 per diluted share, up from $2.05 a year earlier and above FactSet consensus of $2.34. Fiscal Q2 net sales were $26.54 billion, up from $25.21 billion a year ago and above the FactSet consensus of $26.13 billion. For fiscal 2026, the company lifted its adjusted EPS guidance to between $9.90 and $10.90 from $7.50 to $8.50 earlier, compared with FactSet estimates of $8.52.

Dow JonesNasdaq CompositeS&P 500$MRK$MRNA$TGT
Japan

US Equity Markets End Higher as US Treasury Plans Expanded Long-Bond Buybacks

US equity indexes ended higher Wednesday after the Treasury Department said it would increase buybacks of long-dated US government debt.* Moderna (MRNA) shares almost tripled, the top gainer on the S&P 500, and Merck (MRK) gained 13%, the biggest increase on the Dow, after the companies said a late-stage trial of an experimental skin cancer treatment yielded positive topline results* Nebius Group (NBIS) shares fell 9.9%, the biggest drop on the Nasdaq, after the company said it plans to offer $4.5 billion of convertible senior notes in a private offering.* September West Texas Intermediate crude oil rose $0.48 to settle at $85.42 per barrel, while October Brent crude, the global benchmark, was last seen up $0.27 at $91.29.* US crude oil stocks, including the Strategic Petroleum Reserve, fell by 900,000 barrels in the week ended Friday, following an increase of 11.3 million in the previous week. Excluding SPR inventories, commercial crude oil stocks rose by 4.4 million compared with the gain of 17.4 million the week prior, and the 200,000 increase expected in a survey compiled by Bloomberg.* US mortgage applications fell by 0.4% in the week ended Friday with an increase in refinancing activity offset by declining home purchase applications, according to the Mortgage Bankers Association.

Dow JonesNasdaq CompositeS&P 500$MRK$MRNA$NBIS
Japan

US Equity Indexes Rise After Treasury Lifts Buyback Limit, Fed Minutes Show Most FOMC Participants Agreed to Hold Rates Steady at July Meeting

US equity indexes rose ahead of the close on Wednesday after the Treasury Department said it would increase buybacks of long-dated government debt to at least $4 billion per operation in September from $2 billion, and minutes of the July 28-29 meeting of the Federal Open Market Committee showed that most participants supported maintaining the federal funds rate at 3.50% to 3.75%.The Nasdaq Composite rose 0.2% to 26,351.9, the S&P 500 gained 0.3% to 7,716.6, and the Dow Jones Industrial Average increased 0.2% to 53,453.6. Healthcare and consumer discretionary led the gainers, while industrials and financials led the decliners.The yield on 30-year Treasuries fell 8.9 basis points to 5.196%, while the 10-year yield fell 5.3 basis points to 4.653%.Gold futures gained 3% to $4,557.1 per ounce, and silver futures rose 3.5% to $66.33.In economic news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 900,000 barrels in the week ended Aug. 14, following an increase of 11.3 million barrels in the prior week.The US West Texas Intermediate crude oil contract rose 0.8% to $85.65 per barrel.US mortgage applications fell by 0.4% in the week ended Aug. 14, with an increase in refinancing activity offset by declining home purchase applications, according to the Mortgage Bankers Association.In company news, Moderna (MRNA) shares climbed 169%, and Merck (MRK) shares gained 13% after the companies said a trial of intismeran autogene combined with Keytruda met the primary endpoint of recurrence-free survival and a key secondary endpoint of distant metastasis-free survival in patients with completely resected stage IIB-IV melanoma.

Dow JonesNasdaq CompositeS&P 500$MRK$MRNA
Asia Markets

US Equity Indexes Rise as Bond Yields Ease After Treasury Raises Buyback Cap, Trump Pauses Canada Tariffs

US equity indexes rose after midday Wednesday after the Treasury Department said it would increase buybacks of long-dated government debt to at least $4 billion per operation in September from $2 billion, and President Donald Trump paused tariffs on certain Canadian goods in a late Tuesday Truth Social post.The Nasdaq Composite rose 0.2% to 26,343.5, and the S&P 500 gained 0.3% to 7,716.1. The Dow Jones Industrial Average increased 0.2% to 53,456.1. Health and materials led the gainers, while technology and industrials led the decliners.The yield on 30-year Treasuries fell 7 basis points to 5.215%, while the 10-year yield fell 3 basis points to 4.677%.Trump also said the proposed Keystone XL Pipeline, which was canceled in 2021, may be revived. The tariff play comes ahead of negotiations for the US-Mexico-Canada Trade Agreement.Gold futures gained 3% to $4,553.5 per ounce, and silver futures rose 3% to $65.95.In economic news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 900,000 barrels in the week ended Aug. 14, following an increase of 11.3 million barrels in the prior week.Excluding SPR inventories, commercial crude oil stocks rose by 4.4 million barrels compared with a 17.4-million-barrel gain in the week prior, and the 200,000-barrel increase expected in a survey compiled by Bloomberg.The US West Texas Intermediate crude oil contract rose 2.4% to $86.99 per barrel.US mortgage applications fell by 0.4% in the week ended Aug. 14, with an increase in refinancing activity offset by declining home purchase applications, according to the Mortgage Bankers Association."In addition to the economic uncertainty, affordability difficulties have reemerged as a reason for homebuyers to delay purchase decisions given the impact of higher mortgage rates on monthly mortgage payments," said MBA deputy chief economist Joel Kan.In company news, Moderna (MRNA) shares climbed 150%, and Merck (MRK) shares gained 11.5% after the companies said a trial of intismeran autogene combined with Keytruda met the primary endpoint of recurrence-free survival and a key secondary endpoint of distant metastasis-free survival in patients with completely resected stage IIB-IV melanoma.Target (TGT) shares rose 5.8% after the company posted higher-than-expected fiscal Q2 results and boosted its 2026 guidance. The company reported fiscal Q2 adjusted earnings of $4.11 per diluted share, up from $2.05 a year earlier and above FactSet consensus of $2.34. Fiscal Q2 net sales were $26.54 billion, up from $25.21 billion a year ago and above the FactSet consensus of $26.13 billion. For fiscal 2026, the company lifted its adjusted EPS guidance to between $9.90 and $10.90 from $7.50 to $8.50 earlier, compared with FactSet estimates of $8.52.

Dow JonesNasdaq CompositeS&P 500$MRK$MRNA$TGT
Update: Equities Rise Intraday Ahead of Fed Minutes
US Markets

Update: Equities Rise Intraday Ahead of Fed Minutes

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday, supported by gains in the healthcare sector amid a big rally in Moderna (MRNA) shares, while traders awaited minutes of the Federal Reserve's last policy meeting.The S&P 500 was up 0.3% at 7,716.7 after midday Wednesday, while the Nasdaq Composite rose 0.2% to 26,341.6. The Dow Jones Industrial Average advanced 0.2% to 53,436.2. The indexes finished Tuesday trading lower for the third consecutive session.Among sectors, healthcare paced the gainers, while industrials led the laggards.Moderna shares were up 142%, the biggest gain on the S&P 500, as a late-stage trial for a skin cancer treatment being developed in partnership with Merck (MRK) yielded positive topline results. Merck jumped 11%, the best performer on the Dow and among the top gainers on the S&P 500.Keysight Technologies (KEYS) was the worst performer on the S&P 500, down 6.3%. Late Tuesday, the electronics test and measurement equipment manufacturer provided a fiscal fourth-quarter earnings outlook above Wall Street's estimates and reported better-than-expected third-quarter results.In other corporate news, Target (TGT) lifted its full-year outlook as tariff refunds helped double the retailer's fiscal second-quarter earnings year over year. Its shares were up 5.8% intraday.TJX (TJX) issued a fiscal third-quarter comparable store sales forecast that fell short of the Street expectations, but raised its full-year earnings outlook. The stock fell 2.9%.The Fed is scheduled to post minutes of its most recent policy meeting at 2 pm ET, which will be assessed for fresh insights on the central bank's monetary policy. At the meeting last month, policymakers left interest rates unchanged in a divided decision, with three regional presidents calling for policy tightening.Markets are currently pricing in a 63% probability that the Fed will keep its benchmark rate steady in September, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.Treasury yields were mixed intraday, with the two-year yield up 1.3 basis points at 4.19% while the 10-year yield fell 4.6 basis points to 4.7%.The Treasury Department said Wednesday that it will boost the size of its government debt repurchases to at least $4 billion per operation from $2 billion, effective Sept. 9. The buyback operation will focus on 10- to 30-year Treasuries.West Texas Intermediate crude oil was up 2.3% at $86.87 a barrel intraday, while Brent rose 1.7% to $92.59.The United Arab Emirates is halting all trade and financial transactions with Iran "until further notice" amid "regional escalations that undermine regional and international peace and security," UAE Foreign Ministry spokeswoman Afra Al Hameli said on X. The UAE is Iran's second-largest commercial partner, according to a CNN report."Oil prices extended gains for a fourth consecutive session on Wednesday as uncertainty over a resolution to the US-Iran conflict continued to support risk premiums," ING Bank said.Spot gold jumped 3.7% to $4,495.25 per troy ounce, while silver climbed 3% to $65.96 per ounce.

Dow JonesNasdaq CompositeS&P 500$KEYS$MRK$MRNA$TGT$TJX
Asia Markets

Exchange-Traded Funds Higher as US Equities Gain After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were higher. Actively traded Invesco QQQ Trust (QQQ) gained 0.3%.US equity indexes rose after midday Wednesday as Moderna (MRNA) and Merck (MRK) surged on positive results from a late-stage trial of their melanoma vaccine, and the US Treasury said it would double the buybacks of long-dated government debt.EnergyIShares US Energy ETF (IYE) gained 0.5% and the State Street Energy Select Sector SPDR (XLE) rose about 0.3%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) shed 0.5%; iShares US Technology ETF (IYW) eased 0.2% and iShares Expanded Tech Sector ETF (IGM) also declined 0.3%.The State Street SPDR S&P Semiconductor (XSD) shed 1.7%, and iShares Semiconductor (SOXX) was down 1.6%.FinancialThe State Street Financial Select Sector SPDR (XLF) declined 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) advanced 0.4%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 0.4%.CommoditiesCrude oil rose 2%, and the United States Oil Fund (USO) added 1.5%. Natural gas gained 1.8%, and the United States Natural Gas Fund (UNG) was up 1.4%.Gold on Comex increased 3.1%, and the State Street SPDR Gold Shares (GLD) was up 3.4%. Silver was 3.1% higher, and iShares Silver Trust (SLV) was up 3.6%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) was up 0.9%. The Vanguard Consumer Staples ETF (VDC) added 0.9%, and iShares Dow Jones US Consumer Goods (IYK) rose 0.3%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was up 1.8%. VanEck Retail ETF (RTH) added 1.1%, and the State Street SPDR S&P Retail (XRT) rose 2%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) added 2.6%. iShares US Healthcare (IYH) gained 2.8% and Vanguard Health Care ETF (VHT) was 2.5% higher. IShares Biotechnology ETF (IBB) climbed up 4.6%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) shed 0.5%. Vanguard Industrials Index Fund (VIS) fell 0.5%, and iShares US Industrials (IYJ) was also down 0.2%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) rose 6.4%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) added 6.4%, ProShares Ether ETF (EETH) was up 9.6%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 7.3% higher.

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$EETH$MRK$MRNA
Japan

US Equity Indexes Rise as Treasury Yields Ease on Buyback Ramp

US equity indexes rose on Wednesday after the Treasury said it would at least double the size of buybacks of long-dated government debt, driving long-term Treasury yields sharply lower from multi-year highs.The Nasdaq Composite rose 0.5% to 26,438.7, and the S&P 500 gained 0.5% to 7,735. The Dow Jones Industrial Average increased 0.3% to 53,536.9. Health and materials sectors led the gainers, while the industrials and utilities sectors led the decliners.The yield on 30-year Treasuries fell 7.9 basis points to 5.21%, while the 10-year yield fell 4.6 basis points to 4.66%.Gold futures gained 3.1% to $4,556.60 per ounce, and silver futures rose 3.2% to $66.06.In economic news, US crude oil stocks, including the Strategic Petroleum Reserve, fell by 900,000 barrels in the week ended Aug. 14, following an increase of 11.3 million barrels in the week earlier.Excluding SPR inventories, commercial crude oil stocks rose by 4.4 million barrels compared with a 17.4-million-barrel gain in the week prior, and above the 200,000-barrel increase expected in a survey compiled by Bloomberg.The US West Texas Intermediate crude oil contract rose 2.1% to $86.74 per barrel.US Mortgage applications fell by 0.4% in the week ended Aug. 14, with an increase in refinancing activity offset by a decline in home purchase applications, according to Mortgage Bankers Association data released Wednesday.In company news, Moderna (MRNA) shares climbed 128%, and Merck (MRK) shares gained nearly 11% after the companies said a trial of intismeran autogene in combination with Keytruda met the primary endpoint of recurrence-free survival and a key secondary endpoint of distant metastasis-free survival in patients with completely resected stage IIB-IV melanoma.

Dow JonesNasdaq CompositeS&P 500$MRK$MRNA
Commodities

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Wednesday Ahead of Fed Meeting Minutes' Release

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4%, and the actively traded Invesco QQQ Trust (QQQ) was 0.4% higher in Wednesday's premarket activity as investors await the Fed's minutes for clues on interest rates.US stock futures were mixed, with S&P 500 Index futures up 0.03%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures retreating 0.2% before the start of regular trading.Mortgage applications fell by 0.4% in the week ended Aug. 14, with an increase in refinancing activity offset by a decline in home purchase applications, according to Mortgage Bankers Association data released Wednesday.Weekly petroleum stocks data are due to be released at 10:30 am ET.The minutes from the most recent Federal Open Market Committee meeting will be released at 2 pm ET.In premarket action, bitcoin was down by 0.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% lower, Ether ETF (EETH) retreated 0.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 1.5%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) gained 0.03%. The iShares Biotechnology ETF (IBB) was 3.2% higher.Moderna (MRNA) shares were up more than 92%, and Merck (MRK) was up 8% after the companies said that a late-stage trial of intismeran autogene in combination with Keytruda met its primary endpoint of recurrence-free survival as well as a key secondary endpoint of distant metastasis-free survival in patients with completely resected stage IIB-IV melanoma.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.6%, the iShares US Technology ETF (IYW) was 0.1% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.04%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.9%, while the iShares Semiconductor ETF (SOXX) rose by 1.5%.WhiteFiber (WYFI) shares were 23% lower after the company said it priced an upsized $270 million convertible senior notes offering.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.5%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was down 1%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.2% lower.Estee Lauder (EL) shares were up more than 12% pre-bell after the company reported higher fiscal Q4 adjusted earnings and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.5%, the Vanguard Industrials Index Fund (VIS) was up 0.2%, and the iShares US Industrials ETF (IYJ) was inactive.ZIM Integrated Shipping Services (ZIM) stock was down more than 3% before the opening bell after the company reported lower-than-expected Q2 revenue.EnergyThe iShares US Energy ETF (IYE) gained 0.1%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.4%.Energy Fuels' (UUUU) stock was up more than 1% after the company said that terbium oxide produced at the White Mesa Mill in Utah has been qualified for commercial use by one of Japan's largest rare earth permanent magnet manufacturers.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.7%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.8% lower.BlackRock (BLK) shares were down 1% after the Financial Times reported that the company's private credit division HPS Investment Partners and Oaktree Capital are among the creditors that seized control of production equipment supplier MBS Group last week, after the latter defaulted on its debt.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.1% to $84.87 per barrel on the New York Mercantile Exchange. Natural gas was up 2.8% at $2.85 per 1 million British Thermal Units. The United States Oil Fund (USO) increased 0.1%, while the United States Natural Gas Fund (UNG) was 1.6% higher.Gold futures for November were up by 1.2% at $4,473.70 an ounce on the Comex. Silver futures gained 1.5% to $64.97 an ounce. SPDR Gold Shares (GLD) advanced by 2.2%, and the iShares Silver Trust (SLV) was 2.1% higher.

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

Update: US Equity Futures Mostly Flat Pre-Bell as Traders Await Fed Policy Meeting Minutes

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mostly flat pre-bell Wednesday as traders awaited the Federal Reserve's policy-setting meeting minutes for further insights on the central bank's rate outlook.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.1% lower.The minutes of the Federal Reserve meeting held July 28-29 are scheduled to be released 2 pm ET.President Donald Trump said late Tuesday that the US is not in any current or scheduled talks with Iran. In a post on Truth Social, Trump also reiterated that the Strait of Hormuz is "open and operating," with all mines having been removed or detonated.The UAE has halted trade with Iran after accusing Iran of firing two ballistics missiles towards its territory, which fell into the sea. Iran has denied the allegations, according to multiple reports.Traders digested the latest round of earnings, with Analog Devices (ADI) reporting higher fiscal Q3 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.2% at $90.84 per barrel and US West Texas Intermediate crude 0.3% lower at $83.84 per barrel.The Atlanta Fed Business Inflation Expectations survey for August is expected at 10 am ET.In other world markets, Japan's Nikkei closed 3.2% lower, Hong Kong's Hang Seng ended 0.1% higher, and China's Shanghai Composite finished 2.4% lower. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 0.2% lower in Europe's early afternoon session.In equities, Merck (MRK) and Moderna (MRNA) shares rose 6.8% and 93%, respectively, after the two companies said that a late-stage trial of intismeran autogene in combination with Keytruda met its primary endpoint of recurrence-free survival, as well as a key secondary endpoint of distant metastasis-free survival, in patients with completely resected stage IIB-IV melanoma. SK Hynix (SKHY) stock was up 5.9%% after the company said it will buy back and cancel 40 trillion South Korean won ($28.69 billion) of treasury shares as part of efforts to boost shareholder returns.On the losing side, Lowe's (LOW) shares fell 1.3% after the company reported fiscal Q2 net sales that fell short of analysts' consensus. TJX Companies (TJX) stock was down 4.3% after the company issued lower-than-expected fiscal Q3 diluted EPS guidance. Nebius Group (NBIS) shares dropped 4.9% after the company said it intends to offer $4.5 billion of convertible senior notes in a private offering to qualified institutional buyers.

Dow JonesNasdaq CompositeS&P 500$ADI$LOW$MRK$MRNA$NBIS$SKHY$TJX
Japan

US Equity Futures Mostly Flat Pre-Bell as Traders Await Fed Policy Meeting Minutes

US equity futures were mostly flat pre-bell Wednesday as traders awaited the Federal Reserve's policy-setting meeting minutes for further insights on the central bank's rate outlook.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were flat, and Nasdaq futures were 0.2% lower.The minutes of the Federal Reserve meeting held July 28 to July 29 are scheduled to be released 2 pm ET.President Donald Trump said late Tuesday that the US is not in any current or scheduled talks with Iran. In a post on Truth Social, Trump also reiterated that the Strait of Hormuz is "open and operating," with all mines having been removed or detonated.The UAE has halted trade with Iran after accusing Iran of firing two ballistics missiles towards its territory, which fell into the sea. Iran has denied the allegations, according to multiple reports.Traders digested the latest round of earnings, with Analog Devices (ADI) reporting higher fiscal Q3 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.9% at $91.80 per barrel and US West Texas Intermediate crude 1% higher at $84.89 per barrel.The Atlanta Fed Business Inflation Expectations survey for August is expected at 10 am ET.

Dow JonesNasdaq CompositeS&P 500$ADI
Stocks Mixed Pre-Bell Ahead of Fed Meeting Minutes
US Markets

Stocks Mixed Pre-Bell Ahead of Fed Meeting Minutes

The main US stock measures were mixed in Wednesday's premarket activity as traders await minutes of the Federal Reserve's last policy meeting.The S&P 500 was flat and the Dow Jones Industrial Average was up 0.1% before the opening bell, while the Nasdaq edged down 0.2%. The indexes finished Tuesday trading lower for the third consecutive session.The Fed is scheduled to post minutes of its last policy meeting at 2 pm ET, which will be assessed for fresh insight on the central bank's monetary policy. At the meeting last month, policymakers left interest rates unchanged in a divided decision, with three regional presidents calling for policy tightening.Markets are currently pricing in a 67% probability that the Fed will keep its benchmark rate steady in September, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.Treasury yields were down before the open, with the two-year rate retreating 1.7 basis points to 4.16% and the 10-year rate off 0.8 basis points to 4.7%.In a social media post on Tuesday, President Donald Trump said the US is not in negotiations with Iran, after a 60-day ceasefire between the two countries expired earlier this week. Trump also said the naval blockade against Tehran remains in "full force," while the Strait of Hormuz is "open and operating."Iran is considering targeting US military assets in Europe if the war escalates, the Financial Times reported Wednesday, citing sources.West Texas Intermediate crude oil rose 1.1% to $85.88 a barrel in premarket action, while Brent gained 1% to $91.95.In a separate Tuesday post on Truth Social, Trump said he paused the implementation of 50% tariffs on certain Canadian imports, shortly before the duties were to come into effect on Wednesday, as the two countries "have a deal," subject to the finalization of documents.Last month, Trump signed three proclamations to impose 50% tariffs on a range of Canadian goods.Shares of Lowe's (LOW) were down 2.6% pre-bell after the home-improvement retailer said it now expects its full-year results to be at the low end of its previously issued guidance range. Keysight Technologies (KEYS) increased 2.2% as the company issued an upbeat fiscal fourth-quarter earnings outlook.Analog Devices (ADI), TJX (TJX), Target (TGT) and Estee Lauder (EL) also report their latest financial results before the bell, among others. Nordson (NDSN) and Coty (COTY) post earnings after the markets close.Wednesday's economic calendar also has the weekly mortgage applications bulletin and the weekly EIA domestic petroleum inventories report.Gold nudged higher at $4,422 per troy ounce, while bitcoin decreased 0.5% to $64,320.

Dow JonesNasdaq CompositeS&P 500$ADI$COTY$EL$KEYS$LOW$NDSN$TGT$TJX
Asia Markets

Bond Yields, Persian Gulf Outlooks Cap Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed largely sideways pre-bell Wednesday, as a global bond sell-off eased, and as traders awaited fresh reports from the Persian Gulf.In the futures, the S&P 500 was steady, the Nasdaq declined 0.1%, and the Dow Jones traded down 0.2%.West Texas Intermediate crude oil futures traded higher at $84.87, up 1%, in morning action.The VanEck Semiconductor fund (SMH) traded down 0.1% pre-bell, after losing 4.1% on Tuesday.Investors also await the 2 pm ET release of minutes of the Federal Reserve policy-setting session held July 28-29, which are sure to be parsed for clues to central banker thinking.Asian exchanges traded mostly lower overnight, led by a 5.8% decline on Seoul's KOSPI index, as tech issues again faltered.European bourses edged south midday on the continent.Moderna (MRNA) traded up 55.7% pre-bell after it and partner Merck (MRK) announced late-stage clinical trial results for an mRNA cancer vaccine. Merck gained 6.2%.On the earnings scene, Lowe's (LOW) traded down 2.6% pre-bell after the home-improvement chain reported fiscal Q2 earnings above expectations, but missed on revenue, and tempered guidance, in the morning hours.On the economic calendar, in addition to the Fed minutes, is the August Atlanta Fed Business Inflation Expectations bulletin at 10 am ET, followed by the weekly EIA petroleum status report at 10:30 am ET.In pre-market action, Bitcoin traded at $64,329, and 10-year US Treasuries offered 4.70%. Spot gold commanded $4,367 an ounce

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Asia Markets

Update: Technology Leads US Equity Indexes Lower as 30-Year Yield Touches 19-Year High, Crude Oil Extends Gains

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes declined, with chipmakers helping drive technology to the bottom of sector charts, after the 30-year government bond yield touched levels last seen around the 2007 global financial crisis and crude oil prices continued to march higher.The Nasdaq Composite dropped 1.3% to 26,289.71, and the S&P 500 declined 0.7% to 7,691.76 on Tuesday. The Dow Jones Industrial Average slipped 0.2% to 53,343.40. Technology and industrials led decliners. Energy, healthcare and consumer staples topped the gainers.Among companies with market capitalizations exceeding $200 billion each, nine of the top 10 decliners were from the technology sector, according to data compiled by Finviz. Of those nine firms, seven were related to the semiconductor industry. The leader of the pack was Sandisk (SNDK), down 9.2%.US Treasury yields retreated after midday. The 30-year yield fell 2.6 basis points to 5.28% after touching 5.34% intraday, the highest since 2007.The increase in the 30-year yield to a 19-year high comes amid concerns that an imminent escalation in the Middle East sent Brent crude prices above $90 a barrel and will fan fears of inflation, according to a D.A. Davidson research note Tuesday.The household saving rate has plummeted to 2.7% from 6.4% in early 2024, and the housing wealth effect is negative for the middle bulge given falling real house prices, Derek Holt, head of capital market economics at Scotiabank, said in a note Tuesday."When you've got no growth in inflation-adjusted disposable income in the US, and you hit them with higher energy costs, the case for absorption is higher than the case for pass through," Holt said in the note.The front-month US West Texas Intermediate crude oil contract rose 0.8% to $85.18 per barrel, and global benchmark North Sea Brent edged up 0.3% to $91.15 per barrel a day after the deadline to reach a permanent peace deal with Iran expired."There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran," President Trump posted on his social media platform. The Strait of Hormuz will remain closed until the US meets the conditions of an interim deal signed with Iran in June, Reuters reported Tuesday, citing Iran's negotiator Mohammad Baqer Qalibaf in state media.On the same day, Trump posted an image that showed the Strait of Hormuz as "New U.S. Territory." More than 80% of vessel transits through the Strait of Hormuz over the past two weeks have taken the Omani route - a UN-authorized shipping channel that Iran vehemently opposes - according to Kpler, which tracks ships using transponders and satellite data, CNN reported.Gold futures dropped 1.8% to $4,392.70, and silver futures slumped 4% to $63.57.In economic news, US housing starts plunged 12% sequentially to a seasonally adjusted rate of 1.24 million units last month, the Census Bureau and the Department of Housing and Urban Development said. The consensus was for 1.35 million in a Bloomberg-compiled survey.In company news, ExxonMobil (XOM) remains committed to growing Permian volumes, with a new 20-year integrated midstream agreement with Targa Resources (TRGP) supporting its long-term growth targets, UBS Securities said in a note Monday. Shares of Targa jumped 7.1%, the top gainer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$SNDK$TRGP$XOM
Update: Equities Fall For Third Day as Oil Stretches Gains Amid Middle East Anxiety
US Markets

Update: Equities Fall For Third Day as Oil Stretches Gains Amid Middle East Anxiety

(Updates with market moves at the end of the day, and other changes, if any.)US stocks fell for a third straight session on Tuesday and oil prices continued to advance as Middle East developments kept traders on edge.The Nasdaq Composite tumbled 1.3% to close at 26,289.71, while the S&P 500 lost 0.7% to 7,691.76. The Dow Jones Industrial Average edged down 0.2% to 53,343.40. Most sectors were in the red, led by technology, while energy paced the gainers.West Texas Intermediate crude oil rose 0.6% to $85 a barrel, while Brent added 0.1% to $90.99. Both benchmarks were on track for their third consecutive day of gains.President Donald Trump said Tuesday that the US is not in talks with Iran, a day after a 60-day ceasefire between the two countries expired.Trump claimed that the Strait of Hormuz was "open and operating."Iran's top negotiator, Mohammad Bagher Ghalibaf, said Tuesday that the Strait of Hormuz will remain shut until the US meets the conditions of the interim deal signed in June, Reuters reported, citing state media.US Treasury yields were lower, with the 10-year yield falling 1.6 basis points to 4.71% and the two-year yield down 0.7 basis point at 4.18%.Meta Platforms (META) shares slumped nearly 4.5% as a social media addiction trial brought by 29 states got underway.Targa Resources (TRGP) jumped 7.1%, the best performer on the S&P 500. Late Monday, the company said it struck new 20-year fee-based, midstream agreements to support ExxonMobil's (XOM) development of its Permian Basin acreage. ExxonMobil rose 2.5%.Amer Sports (AS) lifted its full-year outlook as the Finnish sports equipment company reported second-quarter results above market estimates, buoyed by double-digit revenue growth across all of its segments. The stock rose 3.2%.US housing starts fell more than expected in July amid declines in both single and multi-family units, while building permits jumped to a five-month high, government data showed Tuesday.US pending home sales dropped 2.3% sequentially in July, data from the National Association of Realtors showed, while consensus was for sales to be flat in a survey compiled by Bloomberg.US industrial production increased less than expected in July as manufacturing growth decelerated, Federal Reserve data showed.Spot gold fell 1.6% to $4,343.38 per troy ounce, while silver shed 3.9% to $63.66 per ounce.

Dow JonesNasdaq CompositeS&P 500$AS$META$TRGP$XOM
Japan

US Equity Markets End Lower Amid Rise in Government Bond Yields Following Deadlock in US-Iran Talks

US equity indexes ended lower Tuesday after crude oil prices rose and the 30-year government bond yield hit a 19-year high following President Donald Trump's declaration that the US is not negotiating any deal with Iran.* "There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran," Trump posted on his social media platform and claimed that the Strait of Hormuz is "New U.S. Territory."* The Strait of Hormuz will remain closed until the US meets the conditions of an interim deal signed with Iran in June, Reuters reported Tuesday, citing Iran's negotiator Mohammad Baqer Qalibaf in state media.* US housing starts dropped 12% sequentially to a seasonally adjusted rate of 1.24 million units last month, the Census Bureau and the Department of Housing and Urban Development said. The analyst consensus stood at 1.35 million in a Bloomberg-compiled survey.* Pending home sales fell 2.3% in July, compared with a 4.8% drop in June, according to the National Association of Realtors. Analysts expected no change in a Bloomberg-compiled survey.* September West Texas Intermediate crude oil rose $0.49 to settle at $84.99 per barrel, while October Brent crude, the global benchmark, was last seen up $0.10 at $90.97.* Targa Resources (TRGP) shares were up about 7.4%, the top performer on the S&P 500, a day after the company secured 20-year, fee-based agreements with ExxonMobil (XOM).* Nvidia (NVDA) talent is being recruited by Etched, with about 15% of the AI startup's 400 employees having previously worked at Nvidia, The Wall Street Journal reported. Nvidia shares were down 2.3%, the second-worst performer on the Dow.

Dow JonesNasdaq CompositeS&P 500$NVDA$TRGP$XOM
Japan

Update: US Equity Indexes Fall as 30-Year Yield Hits 19-Year High, Crude Oil Advances

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes declined, with chipmakers helping drive technology to the bottom of sector charts, after the 30-year government bond yield touched levels last seen around the 2007 global financial crisis and crude oil prices extended gains.The Nasdaq Composite dropped 1.3% to 26,304.5, and the S&P 500 declined 0.6% to 7,698.6 ahead of Tuesday's close. The Dow Jones Industrial Average slipped 0.1% to 53,402.9. Technology and industrials led decliners.Most US Treasury yields retreated after midday. The 30-year yield fell 2.5 basis points to 5.29% after touching 5.34% intraday, the highest since 2007.The increase in the 30-year yield to a 19-year high comes amid concerns that an imminent escalation in the Middle East sent Brent crude prices above $90 a barrel and will fan fears of inflation, according to a D.A. Davidson research note Tuesday.The front-month US West Texas Intermediate crude oil contract rose 0.6% to $85.01 per barrel, and global benchmark North Sea Brent edged up 0.1% to $91.00 per barrel a day after the deadline to reach a permanent peace deal with Iran expired."There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran," President Trump posted on his social media platform.The Strait of Hormuz will remain closed until the US meets the conditions of an interim deal signed with Iran in June, Reuters reported Tuesday, citing Iran's negotiator Mohammad Baqer Qalibaf in state media.On the same day, Trump posted an image that showed the Strait of Hormuz as "New U.S. Territory." More than 80% of vessel transits through the Strait of Hormuz over the past two weeks have taken the Omani route - a UN-authorized shipping channel that Iran vehemently opposes - according to Kpler, which tracks ships using transponders and satellite data, CNN reported.

Dow JonesNasdaq CompositeS&P 500
Update: Equities Fall, Oil Rises as Trump Says US Not in Talks With Iran
US Markets

Update: Equities Fall, Oil Rises as Trump Says US Not in Talks With Iran

(Updates with latest market prices and developments.)US stocks were lower intraday and oil prices rose as President Donald Trump said Washington is not in talks with Iran, a day after a ceasefire between the two countries expired.The Nasdaq Composite was down 1.1% at 26,341.7 after midday Tuesday, while the S&P 500 fell 0.5% to 7,703.3. The Dow Jones Industrial Average edged down 0.1% to 53,382.7. Among sectors, technology saw the steepest decline, while healthcare paced the gainers.West Texas Intermediate crude oil rose 0.7% to $85.10 a barrel, while Brent climbed 0.4% to $91.21."There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran," Trump said Tuesday in a social media post. "The naval blockade remains in full force and effect."A 60-day ceasefire agreement between the US and Iran expired on Monday, with no signs of further negotiations.Trump claimed that the Strait of Hormuz was "open and operating."Iran's top negotiator, Mohammad Bagher Ghalibaf, said Tuesday that the Strait of Hormuz will remain shut until the US meets the conditions of the interim deal signed in June, Reuters reported, citing state media.US Treasury yields were lower intraday, with the 10-year yield falling 1.4 basis points to 4.71% and the two-year yield down 0.9 basis point to 4.17%.In company news, Meta Platforms (META) was down 3.2% as a social media addition trial brought by 29 states got underway.Amer Sports (AS) lifted its full-year outlook as the Finnish sports equipment company reported second-quarter results above market estimates, buoyed by double-digit revenue growth across all of its segments. The stock rose 2.4%.In economic news, US housing starts fell more than expected in July amid declines in both single and multi-family units, while building permits jumped to a five-month high, government data showed Tuesday.US pending home sales dropped 2.3% sequentially in July, data from the National Association of Realtors showed, while consensus was for sales to be flat in a survey compiled by Bloomberg.Spot gold fell 1.1% to $4,366.04 per troy ounce, while silver shed 3.3% to $64.05 per ounce.

Dow JonesNasdaq CompositeS&P 500$AS$META

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