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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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Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Tuesday as Traders Prepare for Fed Meeting

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.2%, and the actively traded Invesco QQQ Trust (QQQ) was 0.1% lower in Tuesday's premarket activity as traders prepare for the Federal Open Market Committee's meeting.US stock futures were also lower, with S&P 500 Index futures down 0.4%, Dow Jones Industrial Average futures slipping 0.5%, and Nasdaq futures retreating 0.4% before the start of regular trading.The New York Federal Reserve's Empire State manufacturing index fell to 7.6 in September from 20.6 in August, compared with a smaller expected decrease to a reading of 15.0 in a survey compiled by Bloomberg.In premarket action, bitcoin was down by 2.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.7% lower, Ether ETF (EETH) declined 2.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was up 1.1%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.3%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) and the iShares US Consumer Staples ETF (IYK) were inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail ETF (XRT) were inactive.Sysco (SYY) shares were down 2% after the company said late Monday it plans to launch an offering of $1 billion of its shares.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) and the iShares US Healthcare ETF (IYH) were inactive. The iShares Biotechnology ETF (IBB) was 0.5% lower.Vera Therapeutics (VERA) stock was 13% higher after the company said its kidney disease drug met all prespecified endpoints in a phase 3 trial final efficacy analysis.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.9% higher.Enova International (ENVA) shares were down 17% after the company withdrew its applications with the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System for the proposed acquisition of Grasshopper Bancorp.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.4%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.Forgent Power Solutions (FPS) shares were 8% higher after the company reported higher fiscal Q4 adjusted net income and revenue.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.01%, the iShares US Technology ETF (IYW) was 0.02% higher, and the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) rose by 0.9%.Teradyne (TER) stock was 1% higher after the company said it has opened an office in Bengaluru, India, in a bid to expand its footprint in the country.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.2%.Shell (SHEL) shares were advancing 0.3% after a similar retreat in the prior session. The company said it has started production at its new grease manufacturing plant in Indonesia with a capacity of up to 12 kilotonnes per year.CommoditiesFront-month US West Texas Intermediate crude oil was up by 1% at $102.41 per barrel on the New York Mercantile Exchange. Natural gas was down 0.6% at $2.88 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.5%, while the United States Natural Gas Fund (UNG) was 1.6% lower.Gold futures for November retreated by 0.7% to $4,322.00 an ounce on the Comex. Silver futures retreated by 0.7% to $63.69 an ounce. SPDR Gold Shares (GLD) was down by 0.1%, and the iShares Silver Trust (SLV) rose by 0.4%.

Dow JonesNasdaq CompositeS&P 500$ENVA$FAS$FAZ$FPS$GLD$IBB$IGM$IYE$IYH$IYJ$IYK$IYW$QQQ$RTH$SHEL$SLV$SOXX$SPY$SYY$TER$UNG$USO$VDC$VERA$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

Update: US Equity Futures Drop Pre-Bell as 10-Year Treasury Yield Surpasses 5% Ahead of Fed Decision

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging slightly lower pre-bell Tuesday as the 10-year Treasury yield hovered above 5% ahead of the Federal Reserve's interest-rate decision on Wednesday.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.1% lower.The benchmark 10-year Treasury yield climbed to its highest level since 2007, reaching as much as 5.041% before edging back to around 5%.President Donald Trump said that claims that artificial intelligence is "taking over the world" are a hoax, after tech leaders called for a slowdown in the advancement of AI models. "AI and Data Centers will be the Greatest Economic Development Engine in History -- Bigger than Oil, Gold, Diamonds, or even the Internet," Trump said in a post on Truth Social.The Federal Reserve policy session starts Tuesday and concludes with a rate announcement on Wednesday. There is a 92.5% chance the Fed will raise rates by 0.25%, according to the CME Group FedWatch indicator.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.7% at $106.38 per barrel and US West Texas Intermediate crude 1.3% higher at $102.73 per barrel.The New York Federal Reserve's Empire State manufacturing index decreased to 7.6 in September versus 20.6 in August, compared with expectations for a decline to a reading of 15.0 in a survey compiled by Bloomberg.In other world markets, Japan's Nikkei closed flat, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 0.5% lower. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 0.1% lower in Europe's early afternoon session.In equities, Accenture (ACN) stock was down 2.4% after a Bloomberg report Monday that the company has agreed to pay $25 million to resolve allegations by the US Department of Justice that it discriminated based on race and sex in hiring and promotion decisions. Sysco (SYY) shares fell 2% after the company said late Monday it priced a public offering of 12.3 million common shares at $81 each. Axon Enterprise (AXON) stock was 4.2% lower after the company said it intends to offer $1 billion of 0% convertible senior notes due 2031 in a registered public offering.On the winning side, Nokia (NOK) shares rose 2.4% after the company and Telxius said they are deploying 800G optical technology across terrestrial networks in Europe, the US and Latin America to meet rising cloud, AI and data-center connectivity demand. Teradyne (TER) stock was up 1.8% after the company said late Monday it opened an office in Bengaluru, India, in a bid to expand its footprint in the country. Rocket Lab (RKLB) shares were 1.7% higher after the company said it has completed its at-the-market equity offering, raising $1.94 billion in gross proceeds through the sale of 29.3 million shares to help fund its pending acquisition of Iridium Communications (IRDM).

Dow JonesNasdaq CompositeS&P 500$ACN$AXON$NOK$RKLB$SYY$TER
Japan

US Equity Futures Drop Pre-Bell as 10-Year Treasury Yield Surpasses 5% Ahead of Fed Decision

US equity futures were edging lower pre-bell Tuesday as the 10-year Treasury yield hovered above 5% ahead of the Federal Reserve's interest-rate decision on Wednesday.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% lower.The benchmark 10-year Treasury yield climbed to its highest level since 2007, reaching as much as 5.041% before edging back to around 5%.President Donald Trump said that claims that artificial intelligence is "taking over the world" are a hoax, after tech leaders called for a slowdown in the advancement of AI models. "AI and Data Centers will be the Greatest Economic Development Engine in History -- Bigger than Oil, Gold, Diamonds, or even the Internet," Trump said in a post on Truth Social.The Federal Reserve policy session starts Tuesday and concludes with a rate announcement on Wednesday. There is a 92.5% chance the Fed will raise rates by 0.25%, according to the CME Group FedWatch indicator.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.2% at $105.90 per barrel and US West Texas Intermediate crude 0.9% higher at $102.27 per barrel.The September Empire State manufacturing index, slated for release at 8:30 a.m. ET, is seen at 15.0 versus 20.6 previously, according to estimates compiled by Bloomberg.

Dow JonesNasdaq CompositeS&P 500
Stocks Fall Pre-Bell as Traders Await Fed Rate Decision Amid Rising Treasury Yields, Oil Prices
US Markets

Stocks Fall Pre-Bell as Traders Await Fed Rate Decision Amid Rising Treasury Yields, Oil Prices

US equity futures were pointing lower on Tuesday as traders await the Federal Reserve's latest policy decision amid rising Treasury yields and oil prices.The S&P 500 declined 0.3% while the Dow Jones Industrial Average and the Nasdaq were off 0.4% each in premarket activity. The indexes finished the previous trading session in the red.The Fed's monetary policy committee is set to kick off its interest-rate meeting today, with a decision due tomorrow. Markets are currently pricing in a 93% probability that the Federal Open Market Committee will hike its benchmark lending rate by 25 basis points, with the remaining odds favoring another Fed pause, according to the CME FedWatch tool.The Fed is expected to raise interest rates by 25 basis points at the meeting, with its latest "dot plot" likely signaling another hike later this year, UBS Securities said in a note. The Bureau of Labor Statistics' consumer and producer price reports last week failed to improve the inflation outlook, the brokerage said.Treasury yields were trending higher, with the 10-year rate jumping 5.1 basis points to 5.01%, its highest level since 2007, CNBC reported. The two-year rate added 2.3 basis points to 4.66% while the 30-year rate gained 5.2 basis points to 5.38%.West Texas Intermediate crude oil rose 2.1% to $103.49 a barrel, while Brent increased 1.5% to $107.30.Yemen's Iran-aligned Houthis on Monday launched fresh attacks on Saudi Arabia, raising concerns over oil supplies as the country shut down its critical East-West pipeline that bypasses the Strait of Hormuz, a key crude and energy chokepoint, multiple media outlets reported.The Islamic Revolutionary Guard Corps reportedly said Monday it destroyed an advanced US MQ-1 drone over the Strait of Hormuz.In a social media post, President Donald Trump said Iran "wants to make a deal, quickly and badly," but he will decide whether the US will engage or not.Shares of Bank of America (BAC) edged down 0.8% before the opening bell following a 5.1% drop at the close of Monday. The lender's chief executive, Brian Moynihan, reportedly said at a conference that its third-quarter sales and trading revenue will be roughly flat versus last year, Reuters reported.CrowdStrike (CRWD), Zscaler (ZS) and Palo Alto Networks (PANW) were all down early Tuesday after gains in the previous session, as recent warnings from prominent artificial intelligence executives about the technology's safety risks boosted cybersecurity stocks.Tuesday's thin economic calendar has the Empire State manufacturing index for September at 8:30 am ET.Forgent Power Solutions (FPS) is scheduled to release its latest financial results before the bell, while Trip.com (TCOM) is expected to post its earnings after the markets close.Gold decreased 0.9% to $4,315 per troy ounce, while bitcoin fell 2.5% to $77,105.

Dow JonesNasdaq CompositeS&P 500$BAC$CRWD$FPS$PANW$TCOM$ZS
Asia Markets

Rising Bond Yields, Oil Prices Depress Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed moderately lower pre-bell Tuesday as rising bond yields and oil prices, and ongoing geopolitical uncertainties in the Middle East, continued to pressure equity values.In the futures, the S&P 500, the Nasdaq and the Dow Jones were all down about 0.3% pre-bell.The Federal Reserve starts its two-day policy session in Washington this morning, culminating with a rate announcement on Wednesday afternoon. The CME FedWatch places a 92.5% chance that the US central bank will lift rates by 0.25%.West Texas Intermediate crude oil traded up 1.9% at $103.33 in morning action, while yields on 10-year US Treasuries topped 5%.The VanEck Semiconductor fund (SMH) traded up 0.5% pre-bell.Asian exchanges traded lower overnight on the oil and interest-rate outlook, and after a slate of tepid economic reports from Beijing, including soft housing, investment and retail-sales bulletins.European bourses tracked moderately south midday on the continent.On the economic calendar is the Empire State Manufacturing Index for September, at 8:30 am ET.In pre-market action, bitcoin traded at $76,885, and spot gold commanded $4,275 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Update: Semiconductors Help Push US Equity Indexes Lower While Benchmark Treasury Yield Hits 5%

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes fell amid declines in mega-cap semiconductor names while the 10-year benchmark government bond yield crossed 5% as crude oil prices extended gains.The Nasdaq Composite fell 0.6% to 26,146.41, the S&P 500 declined 0.5% to 7,619.98, and the Dow Jones Industrial Average slipped 0.3% to 52,421.20 on Monday. Technology led decliners while communication services was among a trio of gainers.Dario Amodei, chief executive of AI chatbot Claude maker Anthropic, called on the industry Saturday to slow the pace of developing AI model capabilities. His three-step plan to ensure that safety measures keep pace with advances in AI model capabilities includes placing independent evaluators inside leading AI companies with "employee-like access." OpenAI CEO Sam Altman and Tesla (TSLA) and SpaceX (SPCX) CEO Elon Musk supported Amodei's call in posts on X.President Donald Trump, however, pushed back against any idea of new AI guardrails and criticized Amodei's call for restraint, Bloomberg reported. In a category of stocks with market capitalization exceeding $200 billion, Micron Technology (MU), SK Hynix (SKYH), and ASML (ASML) were among the bottom 10 on Monday, according to data compiled by Finviz.Iran wants to reach a deal with Washington, Trump said Monday. "The failing Nation of Iran wants to make a deal, quickly and badly. I will determine whether or not the U.S.A. will choose to engage - The concept of which we are open to," Trump wrote in a social media post on Truth Social.Meanwhile, Saudi Arabia seeks to further boost crude oil supply through the Strait of Hormuz after attacks by the Iran-aligned Houthi militia group forced it to halt a key pipeline that's been the main alternative route for getting its crude to global markets during the Iran war, Bloomberg reported, citing a person familiar with the matter. The kingdom had been raising shipments through the contested Hormuz waterway in the first 10 days of this month from August levels, and is now trying to increase supplies further, the person told the news agency.Gulf Arab states postponed a planned meeting with Iran, and Yemen's Houthis launched a fresh attack on Saudi Arabia, Reuters reported.The front-month US West Texas Intermediate crude oil contract rose 1.8% to $101.84 per barrel, and the global benchmark North Sea Brent edged up 1.5% to $106.20 per barrel. Both crude types were off session highs.Ahead of the Federal Reserve's monetary policy announcements on Wednesday, interest rate traders are now pricing in a 95% probability that the Fed will raise its target rate by 25 basis points, up from 33% a month ago, according to the CME FedWatch tool.US Treasury yields rose across the curve. After hitting a high of 5.01% intraday, the 10-year yield was up 1.9 basis points to 4.99% in the final leg.In company news, Corning (GLW) said Friday it entered into an equity distribution agreement to sell its common stock from time to time, with an aggregate offering price of up to $2 billion. Corning shares sank nearly 14%, the worst performer on the S&P 500.In precious metals markets, gold futures dropped 1.6% to $4,337.3, and silver futures slumped 2.3% to $63.72.

Dow JonesNasdaq CompositeS&P 500$ASML$GLW$MU$SKHY$SPCX$TSLA
Japan

US Equity Markets End Lower as 10-Year Yield Tops 5%, Oil Advances

US equity indexes ended lower Monday after US 10-year Treasury yields topped 5% for the first time since 2023 and oil prices rose.* Yemen's Houthis launched a large-scale ballistic missile and drone attack on Saudi Arabia's King Khalid Air Base in Khamis Mushait and claimed "direct hits," Al Jazeera reported.* Ahead of the Federal Reserve's monetary policy meeting on Wednesday, the likelihood of an interest rate increase by 25 basis points rose to 92.3%, up from 33.1% a month earlier, according to the CME FedWatch tool.* October West Texas Intermediate crude oil rose $1.77 to settle at $101.82 per barrel, while November Brent crude, the global benchmark, was last seen up $1.65 at $106.26.* Corning (GLW) shares fell 14%, the steepest drop on the S&P 500, after the company unveiled plans late Friday for the sale of up to $2 billion of its common stock through an at-the-market equity program.* CrowdStrike Holdings (CRWD) rose 14%, the biggest gain on the S&P, as escalating concerns about AI risks lifted cybersecurity sentiment.

Dow JonesNasdaq CompositeS&P 500$CRWD$GLW$GS
Update: Wall Street Dips as AI Warnings Weigh on Tech Sector
US Markets

Update: Wall Street Dips as AI Warnings Weigh on Tech Sector

(Updates with market moves at the end of the day, and other changes, if any.)Wall Street's equity benchmarks fell Monday as warnings from Anthropic and OpenAI on increasing safety risks tied to artificial intelligence triggered a selloff in the technology sector.The tech-heavy Nasdaq Composite declined 0.6% to close at 26,186.41. The S&P 500 dropped 0.5% to 7,619.98, while the Dow Jones Industrial Average dipped 0.3% to 52,421.20. Most sectors ended in the red, led by tech, while communication services paced the gainers.Dario Amodei, chief executive of AI chatbot Claude maker Anthropic, called on the industry Saturday to slow the pace at which it advances AI model capabilities. OpenAI CEO Sam Altman and Tesla (TSLA) and SpaceX (SPCX) CEO Elon Musk supported Amodei's call.OpenAI's initial public offering will not take place this year, Altman separately said in a Fortune Magazine interview, citing the need for safety-related work, according to Bloomberg News.Shares of tech bellwether Nvidia (NVDA) were the third-worst performer on the Dow, down 3.4%. Advanced Micro Devices (AMD), Micron Technology (MU), SanDisk (SNDK), Intel (INTC) and Qualcomm (QCOM) also closed lower.US President Donald Trump sought to allay those AI safety fears, calling them a "hoax.""AI taking over the world, destroying humanity, and all other things bad, is a hoax," he said in a social media post on Monday.In an earlier post on Truth Social, Trump said that "there is a sick conspiracy going on against AI and data centers, and the only one that is happy about it is China."West Texas Intermediate crude oil was up 1.7% at $101.76 a barrel in Monday late-afternoon trade, while Brent rose 1.6% to $106.23, both trading off the day's peaks.The Islamic Revolutionary Guard Corps said it destroyed an advanced US MQ-1 drone over the Strait of Hormuz, a key crude and energy chokepoint, CNBC reported.A meeting to discuss the future of the strait, scheduled for Monday with Tehran and Gulf states, has been postponed, Omani Foreign Minister Badr Albusaidi said on X. The postponement comes following Yemen's Iran-aligned Houthis' attack on Saudi Arabia last week.Trump said Monday that Iran "wants to make a deal, quickly and badly.""I will determine whether or not the USA will choose to engage," Trump said in a social media post.Treasury yields were higher, with the two-year rate rising 1.4 basis points to 4.66% and the 10-year rate up 1.2 basis points at 4.99%.The Federal Reserve is expected to raise interest rates by 25 basis points at this week's policy meeting, with its latest "dot plot" likely signaling another hike later this year, UBS Securities said in a note. The Federal Open Market Committee kicks off its two-day meeting on Tuesday.Markets are currently pricing in a 95% probability that the Fed will raise the benchmark lending rate by 25 basis points on Wednesday, according to the CME FedWatch tool. The remaining odds point to another central bank pause.In other company news, Baldwin Insurance (BWIN) has agreed to be acquired and taken private by a consortium that includes the family investment firm of Dell Technologies (DELL) Chief Executive Michael Dell, in a deal worth $7.7 billion. Baldwin shares jumped 7.9%.Spot gold lost 1.5% to $4,285.73 per troy ounce, while silver shed 2.6% to $63.48 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$BWIN$INTC$MU$NVDA$QCOM$SNDK$SPCX$TSLA
Japan

Update: US Equity Indexes Off Session Lows in Final Leg of Trading

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes declined, albeit off session lows, after the 10-year benchmark government bond yield breached 5% and crude oil prices rose.The Nasdaq Composite fell 0.3% to 26,249.1, the S&P 500 declined 0.4% to 7,629.2, and the Dow Jones Industrial Average slipped 0.2% to 52,454.8 ahead of Monday's close.US Treasury yields were mixed in the final leg of trading. After hitting a high of 5.01% intraday, the 10-year yield was little changed at 4.97%.Iran wants to reach a deal with Washington, President Donald Trump said Monday. "The failing Nation of Iran wants to make a deal, quickly and badly. I will determine whether or not the U.S.A. will choose to engage - The concept of which we are open to," Trump wrote in a social media post on Truth Social.Meanwhile, Saudi Arabia is seeking to further boost oil supply through the Strait of Hormuz after attacks forced it to halt a key pipeline that's been the main alternative route for getting its crude to global markets during the Iran war, Bloomberg reported, citing a person familiar with the matter. The kingdom had been raising shipments through the contested Hormuz waterway in the first 10 days of this month from August levels, and is now trying to increase supplies further, the person told the news agency.The front-month US West Texas Intermediate crude oil contract rose 0.9% to $100.92 per barrel, and the global benchmark North Sea Brent edged up 0.7% to $105.34 per barrel.

Dow JonesNasdaq CompositeS&P 500
Update: Equities Fall Intraday Amid AI Safety Warnings
US Markets

Update: Equities Fall Intraday Amid AI Safety Warnings

(Updates with latest market prices and developments.)US benchmark equity indexes were lower intraday as Anthropic and OpenAI flagged increasing safety risks tied to artificial intelligence.The S&P 500 was down 0.3% at 7,635.4 after midday Monday. The Nasdaq Composite and the Dow Jones Industrial Average fell 0.2% each to 26,291.4 and 52,493.7, respectively. All three main indexes finished Friday trading higher, snapping a four-day losing streak.Among sectors, industrials led the laggards intraday Monday, while communication services paced the gainers.Dario Amodei, chief executive of AI chatbot Claude maker Anthropic, called on the industry Saturday to slow the pace at which it advances AI model capabilities. OpenAI CEO Sam Altman and Tesla (TSLA) and SpaceX (SPCX) CEO Elon Musk supported Amodei's call.OpenAI's initial public offering will not take place this year, Altman separately said in a Fortune Magazine interview, citing the need for safety-related work, according to Bloomberg News.Shares of technology bellwether Nvidia (NVDA) were the third-worst performer on the Dow, down 2.7%. Advanced Micro Devices (AMD), Micron Technology (MU), SanDisk (SNDK), Intel (INTC) and Qualcomm (QCOM) were also down intraday.West Texas Intermediate crude oil was up 1.8% at $101.84 a barrel intraday, while Brent rose 1.5% to $106.11, both trading off the day's peaks.The Islamic Revolutionary Guard Corps said it destroyed an advanced US MQ-1 drone over the Strait of Hormuz, a key crude and energy chokepoint, CNBC reported.A meeting to discuss the future of the strait, scheduled for Monday with Tehran and Gulf states, has been postponed, Omani Foreign Minister Badr Albusaidi said on X. The postponement comes following Yemen's Iran-aligned Houthis' attack on Saudi Arabia last week.US President Donald Trump said Monday that Iran "wants to make a deal, quickly and badly.""I will determine whether or not the USA will choose to engage," Trump said in a social media post.Treasury yields were lower, with the two-year rate retreating 2.6 basis points to 4.62% and the 10-year rate falling two basis points to 4.96%.The Federal Reserve is expected to raise interest rates by 25 basis points at this week's policy meeting, with its latest "dot plot" likely signaling another hike later this year, UBS Securities said in a note. The Federal Open Market Committee kicks off its two-day meeting on Tuesday.Markets are currently pricing in a 93% probability that the Fed will raise the benchmark lending rate by 25 basis points on Wednesday, according to the CME FedWatch tool. The remaining odds point to another central bank pause.In other company news, Baldwin Insurance (BWIN) has agreed to be acquired and taken private by a consortium that includes the family investment firm of Dell Technologies (DELL) Chief Executive Michael Dell, in a deal worth $7.7 billion. Baldwin shares were up 7.7% intraday.Spot gold lost 1% to $4,306.30 per troy ounce, while silver shed 2% to $63.92 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$BWIN$INTC$MU$NVDA$QCOM$SNDK$SPCX$TSLA
Asia Markets

Update: US Equity Indexes Retreat as 10-Year Treasury Yield Crosses 5% Threshold, Crude Oil Extends Gains

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes declined after the 10-year benchmark government bond yield hit a 52-week high of 5.01% and crude oil jumped as inflation concerns mounted amid a widening war in Iran.The Nasdaq Composite fell 0.2% to 26,294.2, the S&P 500 declined 0.3% to 7,635.5, and the Dow Jones Industrial Average slipped 0.2% to 52,470.1 after midday Monday.The front-month US West Texas Intermediate crude oil contract jumped 1.6% to $101.64 per barrel, and the global benchmark North Sea Brent rose 1.2% to $105.91 per barrel.Gold futures dropped 1.3% to $4,353.30, and silver futures slumped 1.6% to $64.18.Gulf Arab states postponed a planned meeting with Iran, and Yemen's Iran-aligned Houthis launched a fresh attack on Saudi Arabia, Reuters reported.Iran wants to reach a deal with Washington, President Donald Trump said Monday. "The failing Nation of Iran wants to make a deal, quickly and badly. I will determine whether or not the U.S.A. will choose to engage - The concept of which we are open to," Trump wrote in a social media post on Truth Social.Yemen's Houthis launched a large-scale ballistic missile and drone attack on Saudi Arabia's King Khalid Air Base in Khamis Mushait and claimed "direct hits," Al Jazeera, a Middle Eastern broadcaster, reported. Riyadh gave no immediate response, the news agency said. The Iran-backed rebels captured more strategic islands in the southern Red Sea, strengthening their control of a crucial Bab al-Mandeb shipping route, the news outlet cited the rebels as saying.Meanwhile, ahead of the Federal Reserve's monetary policy announcements on Wednesday, interest rate traders are now pricing in a 90% probability that the Fed will raise its target rate by 25 basis points, up from 33% a month ago, according to the CME FedWatch tool. The odds of another policy pause next week plunged to 10% from 67% a day earlier.US Treasury yields traded mixed. After hitting a 52-week high, the 10-year yield was down two basis points to 4.96%.Communication services, healthcare and consumer staples sectors topped gainers after midday. Industrials, technology and utilities led decliners.Dario Amodei, chief executive of AI chatbot Claude maker Anthropic, called on the industry Saturday to slow the pace of developing AI model capabilities. His three-step plan to ensure that safety measures keep pace with advances in AI model capabilities includes placing independent evaluators inside leading AI companies with "employee-like access."OpenAI CEO Sam Altman and Tesla (TSLA) and SpaceX (SPCX) CEO Elon Musk supported Amodei's call in posts on X.In company news, Corning (GLW) said Friday it entered into an equity distribution agreement to sell its common stock from time to time, with an aggregate offering price of up to $2 billion. Shares of Corning sank 13%, the worst performer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$GLW$SPCX$TSLA
Asia Markets

Exchange-Traded Funds Mixed as US Equities Fall After Midday

Broad-market exchange-traded funds IWM and IVV were mixed, with the latter in the red. Actively traded Invesco QQQ Trust (QQQ) fell 0.5%.US equity indexes fell after the 10-year benchmark government bond yield touched a 52-week high of 5.01% and crude oil prices extended gains amid the ongoing war in Iran.EnergyIShares US Energy ETF (IYE) lost 0.6%, and the State Street Energy Select Sector SPDR (XLE) fell 0.7%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) shed 1.2%, iShares US Technology ETF (IYW) declined 0.4% and iShares Expanded Tech Sector ETF (IGM) rose 0.6%.The State Street SPDR S&P Semiconductor (XSD) dropped 4.7%, while iShares Semiconductor (SOXX) decreased 4.8%.FinancialThe State Street Financial Select Sector SPDR (XLF) gained 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was 0.6% higher, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 0.7%.CommoditiesCrude oil gained 0.9%, and the United States Oil Fund (USO) was 0.8% higher. Natural gas increased 2.3%, and the United States Natural Gas Fund (UNG) advanced 2.2%.Gold on Comex declined 0.5%, and the State Street SPDR Gold Shares (GLD) fell 0.8%. Silver dropped 1.8%, and iShares Silver Trust (SLV) decreased 0.9%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) gained 1.5%. The Vanguard Consumer Staples ETF (VDC) was up 1.4%, and iShares Dow Jones US Consumer Goods (IYK) also rose 1.1%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was 0.2% higher. The VanEck Retail ETF (RTH) gained 0.8%, and the State Street SPDR S&P Retail (XRT) advanced 1.5%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) was 1.5% higher; iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were up about 1.4% each, while iShares Biotechnology ETF (IBB) was up 0.9%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) was 1.5% lower. The Vanguard Industrials Index Fund (VIS) decreased 1.5%, and iShares US Industrials (IYJ) fell 0.9%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) increased 2.1%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 2%, ProShares Ether ETF (EETH) shed 1.6%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was up 1.4%.

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 Fall as 10-Year Treasury Yield Rises Above 5% Mark, Crude Oil Jumps

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes fell after the 10-year benchmark government bond yield touched a 52-week high of 5.01% and crude oil prices extended gains as inflation concerns mounted amid the ongoing war in Iran.The Nasdaq Composite fell 0.3% to 26,243.1, the S&P 500 declined 0.3% to 7,631.5, and the Dow Jones Industrial Average slipped 0.1% to 52,512.6 after midday Monday.US Treasury yields traded mixed. After hitting a 52-week high, the 10-year yield was down 2.8 basis points to 4.95%.The front-month US West Texas Intermediate crude oil contract jumped 2.8% to $102.83 per barrel, and the global benchmark North Sea Brent rose 2.6% to $107.29 per barrel.Gulf Arab states postponed a planned meeting with Iran, and Yemen's Iran-aligned Houthis launched a fresh attack on Saudi Arabia, Reuters reported.Iran wants to reach a deal with Washington, President Donald Trump said Monday. "The failing Nation of Iran wants to make a deal, quickly and badly. I will determine whether or not the U.S.A. will choose to engage - The concept of which we are open to," Trump wrote in a social media post on Truth Social.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Monday Amid AI Pullback

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.6%, and the actively traded Invesco QQQ Trust (QQQ) was 1.5% lower in Monday's premarket activity as warnings from AI industry leaders weighed on technology shares.US stock futures were also lower, with S&P 500 Index futures down 0.6%, Dow Jones Industrial Average futures slipping 0.2%, and Nasdaq futures retreating 1.5% before the start of regular trading.In premarket activity, bitcoin was up by 0.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.9% higher, Ether ETF (EETH) retreated 1.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 0.7%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 2.5%, the iShares US Technology ETF (IYW) was flat, and the iShares Expanded Tech Sector ETF (IGM) was down 2%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) fell by 5.6%.Elastic (ESTC) shares were up more than 7% in premarket activity after the company said Friday that it launched the serverless Elasticsearch Vector Database with optimized defaults to enable developers to create and ship vector search applications faster.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 1%, the Vanguard Health Care Index Fund (VHT) was up 0.4%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was down 0.2%.Scholar Rock (SRRK) stock was 6% higher after the company said Friday it received US Food and Drug Administration approval for Isembyld to treat spinal muscular atrophy in certain patients aged two years and above.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.6%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was flat.Baldwin Insurance Group (BWIN) shares traded up 6% after the company said it has entered into a definitive agreement through which an entity formed by Sequence Holdings and the Dell Family Office will acquire a majority interest in the company for about $7.70 billion in cash.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 1.4%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.SpaceX (SPCX) shares were down more than 2% before the opening bell. The company's Chief Executive Elon Musk said Sunday on social media platform X that he is "highly confident" the company will launch Nvidia's (NVDA) Vera Rubin NLV72 artificial intelligence computers in space next year.EnergyThe iShares US Energy ETF (IYE) gained 0.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1.5%.Occidental Petroleum (OXY) stock was up more than 2% before market open after Wells Fargo lifted the company's price target to $82 from $79.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 1%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was inactive, and the iShares US Consumer Staples ETF (IYK) was 0.3% higher. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.5%. The VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail ETF (XRT) were inactive.Kenvue (KVUE) and Kimberly-Clark (KMB) shares were up 1% after Reuters reported Kimberly-Clark is preparing potential asset sales to address EU antitrust concerns over its proposed acquisition of Kenvue.CommoditiesFront-month US West Texas Intermediate crude oil was up by 4.7% at $104.79 per barrel on the New York Mercantile Exchange. Natural gas was 2.3% higher at $2.90 per 1 million British Thermal Units. The United States Oil Fund (USO) rose 3.1%, while the United States Natural Gas Fund (UNG) advanced 1.5%.Gold futures for November were down by 1.9% at $4,324.40 an ounce on the Comex. Silver futures fell 2.5% to $63.57 an ounce. SPDR Gold Shares (GLD) decreased 1.8%, and the iShares Silver Trust (SLV) was 2.3% lower.

Dow JonesNasdaq CompositeS&P 500$BWIN$ESTC$FAS$FAZ$GLD$IBB$IGM$IYE$IYH$IYJ$IYK$IYW$KMB$KVUE$OXY$QQQ$RTH$SLV$SOXX$SPCX$SPY$SRRK$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

Correction: Update: US Equity Futures Lower Pre-Bell as Traders Assess Call for AI Advancement Slowdown, Upcoming Fed Decision

(Corrects the oil price percentage change in the sixth paragraph.)US equity futures were edging lower pre-bell Monday as traders evaluated a call for a slowdown in the advancement of artificial intelligence models and the upcoming Federal Reserve policy decision.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.7%, and Nasdaq futures were 1.6% lower.In an essay published on Saturday, Anthropic Chief Executive Officer Dario Amodei called for slowing the pace at which companies improved the capabilities of AI models, citing risks of losing control, the misuse of AI for cyberattacks and bioterrorism, and serious economic disruption.Amodei's proposal was backed by other major AI players, including OpenAI CEO Sam Altman and SpaceX (SPCX) CEO Elon Musk.The Federal Reserve policy session starts Tuesday and concludes with a rate announcement on Wednesday. There is an 88.5% chance the Fed will raise rates by 0.25%, according to the CME Group FedWatch indicator.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.4% at $109.24 per barrel and US West Texas Intermediate crude 4.5% higher at $104.53 per barrel.The economic calendar is vacant.In other world markets, Japan's Nikkei closed 0.8% lower, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was up 0.5%, and Germany's DAX index was 0.6% lower in Europe's early afternoon session.In equities, stocks of Nvidia (NVDA), Micron Technology (MU), and Intel (INTC) were down as part of a broader downswing in the semiconductor industry after the AI development concerns raised by Amodei. Nvidia shares fell 2.5%, Micron stock was down 6%, and Intel shares dropped 6.9%.On the winning side, Exxon Mobil (XOM) stock was up 1.5% after a Bloomberg report cited executive Peter Clarke as saying that the company has raised its liquefied natural gas sales forecast even as the Middle East war prompts some countries to reconsider their reliance on the fuel. Johnson & Johnson (JNJ) shares rose 1.3% after the company said Sunday a phase 3 trial of its lung cancer drug Rybrevant combined with chemotherapy resulted in a median overall survival of 34.3 months. Chevron (CVX) stock was 1.5% higher after a Reuters report citing President of Global Gas, Freeman Shaheen, as saying that the company is considering expanding its global gas portfolio to the Mediterranean and Argentina to meet growing demand amid the crisis in the Middle East.

Dow JonesNasdaq CompositeS&P 500$CVX$INTC$JNJ$MU$NVDA$SPCX$XOM
Asia Markets

Update: US Equity Futures Lower Pre-Bell as Traders Assess Call for AI Advancement Slowdown, Upcoming Fed Decision

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Monday as traders evaluated a call for a slowdown in the advancement of artificial intelligence models and the upcoming Federal Reserve policy decision.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.7%, and Nasdaq futures were 1.6% lower.In an essay published on Saturday, Anthropic Chief Executive Officer Dario Amodei called for slowing the pace at which companies improved the capabilities of AI models, citing risks of losing control, the misuse of AI for cyberattacks and bioterrorism, and serious economic disruption.Amodei's proposal was backed by other major AI players, including OpenAI CEO Sam Altman and SpaceX (SPCX) CEO Elon Musk.The Federal Reserve policy session starts Tuesday and concludes with a rate announcement on Wednesday. There is an 88.5% chance the Fed will raise rates by 0.25%, according to the CME Group FedWatch indicator.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.7% at $109.57 per barrel and US West Texas Intermediate crude 468% higher at $104.67 per barrel.The economic calendar is vacant.In other world markets, Japan's Nikkei closed 0.8% lower, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was up 0.5%, and Germany's DAX index was 0.6% lower in Europe's early afternoon session.In equities, stocks of Nvidia (NVDA), Micron Technology (MU), and Intel (INTC) were down as part of a broader downswing in the semiconductor industry after the AI development concerns raised by Amodei. Nvidia shares fell 2.5%, Micron stock was down 6%, and Intel shares dropped 6.9%.On the winning side, Exxon Mobil (XOM) stock was up 1.5% after a Bloomberg report cited executive Peter Clarke as saying that the company has raised its liquefied natural gas sales forecast even as the Middle East war prompts some countries to reconsider their reliance on the fuel. Johnson & Johnson (JNJ) shares rose 1.3% after the company said Sunday a phase 3 trial of its lung cancer drug Rybrevant combined with chemotherapy resulted in a median overall survival of 34.3 months. Chevron (CVX) stock was 1.5% higher after a Reuters report citing President of Global Gas, Freeman Shaheen, as saying that the company is considering expanding its global gas portfolio to the Mediterranean and Argentina to meet growing demand amid the crisis in the Middle East.

Dow JonesNasdaq CompositeS&P 500$CVX$INTC$JNJ$MU$NVDA$SPCX$XOM
Stocks Fall Pre-Bell Amid AI Safety Warnings; Investors Await Fed Rate Decision
US Markets

Stocks Fall Pre-Bell Amid AI Safety Warnings; Investors Await Fed Rate Decision

The benchmark US stock measures were tracking in the red before the opening bell Monday as traders assess warnings from leading artificial intelligence executives about the rapid pace of AI developments and await a major policy decision by the Federal Reserve later in the week.The S&P 500 declined 0.8%, the Dow Jones Industrial Average decreased 0.3%, and the tech-heavy Nasdaq fell 1.8% in premarket activity. All three main indexes finished Friday trading higher, snapping a four-day losing streak.Dario Amodei, chief executive of AI chatbot Claude maker Anthropic, called on the industry Saturday to slow the pace at which it advances AI model capabilities. His three-step plan for ensuring that safety measures keep pace with advances in AI model capabilities includes placing independent evaluators inside leading AI companies with "employee-like access."OpenAI CEO Sam Altman and Tesla (TSLA) and SpaceX (SPCX) CEO Elon Musk supported Amodei's call in posts on X.Shares of Nvidia (NVDA), Advanced Micro Devices (AMD), Micron Technology (MU), SanDisk (SNDK), Intel (INTC) and Qualcomm (QCOM) were down pre-bell. Shares of AI hyperscalers including Microsoft (MSFT), Alphabet (GOOG, GOOGL), Amazon (AMZN) and Meta Platforms (META) also dropped.With no major economic reports scheduled for Monday, traders will focus on the Fed's monetary policy committee meeting scheduled for Tuesday, with a decision on interest rates due the following day. Markets are currently pricing in an 87% probability that the central bank will hike its benchmark lending rate by 25 basis points, with the remaining odds in favor of another Fed pause.In remarks emailed toon Friday, Oxford Economics said it "expects a third consecutive set of moderate inflation readings to tip a narrow majority towards holding rates," although "rising oil prices and still-elevated inflation make a risk-management case for a hike."Last week, official data showed that US consumer inflation hit a three-month high in August as energy prices rose, while the core measure unexpectedly accelerated.Treasury yields were down, with the two-year rate retreating 1.8 basis points to 4.63% while the 10-year rate was off 1.6 basis points to 4.96%.West Texas Intermediate crude oil rose 2.6% to $102.66 a barrel, while Brent gained 2.7% to $107.38.A diplomatic meeting between Iran and several Gulf states to discuss the future of the Strait of Hormuz has been called off, following Yemen's Iran-aligned Houthis' attack on a military airbase in Saudi Arabia, Reuters reported. The meeting was scheduled for Monday.Saudi Arabia's Energy Ministry said Friday that the kingdom shut down its key East-West crude oil pipeline in the Riyadh and Madinah regions as a precautionary measure a day after the facility was targeted in multiple attacks. The pipeline closure leaves the Strait of Hormuz as the kingdom's only route for moving large volumes of crude westward, according to Rystad Energy.Gold slipped 1.9% to $4,327 per troy ounce, while bitcoin edged 0.9% higher to $77,992.

Dow JonesNasdaq CompositeS&P 500$AMD$AMZN$GOOG$GOOGL$INTC$META$MSFT$MU$NVDA$QCOM$SNDK$SPCX$TSLA
Japan

US Equity Futures Lower Pre-Bell as Traders Assess Call for AI Advancement Slowdown, Upcoming Fed Decision

US equity futures were edging lower pre-bell Monday as traders evaluated a call for a slowdown in the advancement of artificial intelligence models and the upcoming Federal Reserve policy decision.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.6%, and Nasdaq futures were 1.5% lower.In an essay published on Saturday, Anthropic Chief Executive Officer Dario Amodei called for slowing the pace at which companies improved the capabilities of AI models, citing risks of losing control, the misuse of AI for cyberattacks and bioterrorism, and serious economic disruption.Amodei's proposal was backed by other major AI players, including OpenAI CEO Sam Altman and SpaceX (SPCX) CEO Elon Musk.The Federal Reserve policy session starts Tuesday and concludes with a rate announcement on Wednesday. There is an 88.5% chance the Fed will raise rates by 0.25%, according to the CME Group FedWatch indicator.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.7% at $108.47 per barrel and US West Texas Intermediate crude 3.4% higher at $103.41 per barrel.The economic calendar is vacant.

Dow JonesNasdaq CompositeS&P 500$SPCX
Asia Markets

AI, Oil, Bond Yield Concerns Damp Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed lower pre-bell Monday as mounting concerns regarding AI development met rising oil prices, underscored by a growing consensus the US central bank will raise rates this week.In the futures, the S&P 500 fell 0.7%, the Nasdaq declined 1.6% and the Dow Jones was off 0.1%.Traders look ahead to the Federal Reserve policy session that starts Tuesday and culminates with a rate announcement on Wednesday. There is an 86.5% chance the Fed will raise rates by 0.25%, according to the CME Group FedWatch indicator.Undercutting AI-related shares, Anthropic CEO Dario Amodei posted on social media platform X on Saturday that AI development should be slowed, while OpenAI CEO Sam Altman said his company will not go public in 2026 in an interview posted Saturday by Fortune magazine.The VanEck Semiconductor fund (SMH) traded down more than 4% pre-bell.West Texas Intermediate crude oil traded up 2.5% to $102.60 a barrel in morning action, following reports that Houthi military forces in Yemen have damaged Saudi Arabian oil exporting pipelines and infrastructure.Asian exchanges traded mostly lower overnight, and European bourses edged south midday on the continent.In premarket action, Bitcoin traded at $77,911, and 10-year US Treasuries offered 4.97%. Spot gold commanded $4,293 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

US Equity Investors to Look for Hawkish Tilt in Fed Policy Announcements While Focusing on Iran Geopolitics This Week

US equity investors are expected to look out for follow-through in the Federal Reserve's policy announcements, retail sales and Iran geopolitics this week.* The Federal Reserve is widely expected to hike the target rate for the federal funds by 25 basis points on Wednesday while also releasing the Summary of Economic Projections. Fed Chair Kevin Warsh's press conference will begin at 2:30 pm E.T.* The strongest argument for hiking is that Warsh has probably boxed himself in with his high deference to markets, Derek Holt, head of capital market economics at Scotiabank, said in a note. "If you don't hike when it's priced, then when? If he doesn't hike, then markets may pay less heed to his hawkish laments," Holt said. He added, however, that hiking would be a "policy error" because the inflation threat is "overstated and so is job market resilience."* Macroeconomic data due this week include retail sales, ADP employment change, jobless claims, import and export prices, building permits and housing starts, and industrial production.* Middle East diplomacy appeared to falter heading into Monday with the postponement of a meeting between Iran and other Persian Gulf powers, Reuters reported. Fresh strikes from Houthi, an Iran-aligned militia group, on Saudi Arabia and Tehran's attacks on ships in the Gulf compounded supply concerns following the closure of a key Saudi oil pipeline, the news agency said.* Quarterly earnings due this week include Trip.com (TCOM) and Lennar (LEN).* S&P 500 companies' earnings increased almost 53% year-over-year, versus consensus for nearly 23% growth as of June 30, according to a D. A. Davidson note. Large investment gains that Alphabet (GGOG, GOOGL) recognized in SpaceX (SPCX) and Amazon.com (AMZN)-backed Anthropic skewed some of this growth, but even backing out this contribution, operating earnings growth was over 30%, per the note. Looking ahead to Q3, consensus is for S&P 500 earnings to surge more than 28% year over year.

Dow JonesNasdaq CompositeS&P 500$LEN$TCOM

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