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International

Tech Rebound Lifts Wall Street Pre-Bell; Asia Mixed, Europe Up

Wall Street futures pointed higher pre-bell Thursday as traders waded back into tech shares, and shrugged off reports of fresh hostilities in the Persian Gulf.In the futures, the S&P 500 rose 0.7%, the Nasdaq inclined 1.2% and the Dow Jones was up 0.7%.The VanEck Semiconductor exchange-traded fund (SMH) traded up 2.2% pre-bell.West Texas Intermediate crude oil traded down 1% at $89.11 a barrel in morning action.Investors are awaiting the May producer price index (PPI) report from Washington at 8:30 am ET, for a view into how Strait of Hormuz-related fuel bills are impacting overall producer costs.Asian exchanges traded unevenly lower overnight, while European bourses tracked moderately north midday on the continent.Adobe (ADBE) plans to report earnings after-bell, among others.On the economic calendar, in addition to the PPI bulletin, is the weekly jobless claims report at 8:30 am ET, followed by the Q1 services survey at 10 am.The weekly EIA natural gas report logs at 10:30 am.In pre-market action, bitcoin traded at $62,778, and 10-year US Treasuries offered 4.53%. Spot gold commanded $4,091 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

US Equity Indexes Slide as Semiconductors Lead Technology Lower, Trump Warns of Iran Attack

US equity indexes slumped following a sell-off in mega-cap semiconductor names, and as President Donald Trump's threat to attack Iran "very hard" sent crude oil higher.The Nasdaq Composite dropped 2% to 25,169.50, with the S&P 500 down 1.6% to 7,266.99, and the Dow Jones Industrial Average lower by 1.9% to 49,918.78 on Wednesday. Industrials, technology, and materials were among the decliners, while energy and consumer staples led the gainers.In the final leg of trading, Qualcomm (QCOM), Arm (ARM), and Advanced Micro Devices (AMD) were among the 10 worst-performing stocks in a category of companies with a market capitalization of more than $200 billion each, according to data compiled by Finviz.Institutional demand for SpaceX (SPCX) shares is more than four times the amount available ahead of its initial public offering, Bloomberg reported Wednesday, citing people familiar with the matter. Banks are expected to stop taking orders after Wednesday's market close at 4 pm ET, with the IPO expected to price the following day and trading set to begin on the last day of the week, the report said.In geopolitical news, the US will resume attacks on Iran on Wednesday, President Donald Trump said, citing slow progress in talks for a deal to end the war, according to a report from CNN.Iran is taking "too long to negotiate a deal," and that "now they will have to pay the price," Trump said Wednesday. The US launched airstrikes early Wednesday against Iran after the US president blamed Tehran for the crash of an American attack helicopter, and Iran fired back at countries in the region, according to a report from the Associated Press.West Texas Intermediate crude oil futures jumped 2.5% to $90.44, and Brent crude futures advanced 2.1% to $93.36.Most US Treasury yields rose, with the 10-year up two basis points to 4.55% and the two-year higher by 1.3 basis points to 4.14%.In precious metals, gold futures slumped 4.4% to $4,094.2, and silver futures dropped 2.5% to $63.61.In economic news, the US seasonally adjusted consumer price index, a measure of inflation, rose by 0.5% in May, as expected, following a 0.6% increase in April, according to data released Wednesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, rose by 0.2%, below the consensus estimate for a 0.3% increase. Core CPI rose by 0.4% in April.In this third inflation print since the beginning of Operation Epic Fury, the data continue to show "virtually no sign" that energy inflation is filtering down into the core, outside of airfare, according to a note from Jefferies.The year-over-year rates for overall and core CPI increased to 4.2% and 2.9%, respectively, from 3.8% and 2.8% in the previous month, the BLS data showed. The headline rate was the strongest since April 2023, according to data compiled by Finviz."Some pass-through could still be on the way in the data over the Summer and Fall, but the fact that businesses have been reticent to immediately pass on [the] price increases to their customers is significant," Jefferies Chief US Economist Thomas Simons wrote in the note.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$QCOM$SPCX
Update: Nasdaq, S&P 500 Hit 5-Week Lows Amid Re-Escalation in Middle East
US Markets

Update: Nasdaq, S&P 500 Hit 5-Week Lows Amid Re-Escalation in Middle East

(Updates with market moves at the end of the day.)The Nasdaq Composite and the S&P 500 fell to the lowest levels in about five weeks on Wednesday as renewed tensions between the US and Iran pushed oil prices higher.The Nasdaq fell 2% to 25,169.5, its lowest close since May 4. The S&P 500 lost 1.6% to 7,267, the lowest finish since May 5. The Dow Jones Industrial Average shed 1.9% to settle at 49,918.8, the lowest since May 19.Most sectors were in the red, led by industrials' 3.4% slump, while consumer staples paced the gainers.West Texas Intermediate crude oil was up 2.6% at $90.46 a barrel in late-afternoon trade, while Brent rose 2.2% to $93.42.Iran will have to "pay the price" for taking too long to agree to a peace deal, US President Donald Trump said in a social media post Wednesday.The US will resume attacks on Iran Wednesday, CNN reported, citing Trump.US forces launched airstrikes Tuesday against Iran after Tehran shot down an American Apache helicopter, Central Command said. Iran struck American military bases across Jordan, Kuwait, and Bahrain, media reports showed."With no imminent deal in sight and with the global oil market tightening significantly every day, we see upside to prices, particularly if these disruptions linger into the third quarter, a period of seasonally stronger oil demand," ING Bank said in a report Wednesday.US Treasury yields were mixed, with the 10-year rate up 2.3 basis points at 4.55% and the two-year rate little changed at 4.14%.In economic news, US annual inflation accelerated to the highest in about three years last month, fueling expectations that the Federal Reserve will keep interest rates on hold for some time."US inflation continues to vault higher on the back of swiftly rising energy prices and four months of closure of the Strait of Hormuz," BMO Chief US Economist Scott Anderson said in a report.Monthly headline and core inflation measures, however, eased."The milder rise in core (consumer price index) inflation in May will buy the Fed some time to wait a bit longer before taking any action on raising interest rates."Markets widely expect the Fed to leave interest rates unchanged next week, which would mark its fourth straight pause, according to the CME FedWatch tool.In company news, Super Micro Computer (SMCI) shares slid 28%, the worst performer on the S&P 500, as the company announced a series of concurrent equity and equity-linked financing transactions amounting to $7 billion.Casey's General Stores (CASY) shares surged 20%. Late Tuesday, the convenience store operator logged better-than-expected fiscal fourth-quarter results.Gold was down 4.2% at $4,105.10 per troy ounce, while silver fell 2.2% to $63.82.

Dow JonesNasdaq CompositeS&P 500$CASY$SMCI
International

US Equity Markets End Lower Amid Semiconductor Sell-Off, Trump Threat to Hit Iran "Hard"

US equity indexes were lower on Wednesday amid a semiconductor stock sell-off and after President Trump threatened a "very hard" attack on Iran.* The US will resume attacks on Iran on Wednesday, President Donald Trump said, citing slow progress in talks for a deal to end the war, according to a report from CNN.* The US seasonally adjusted consumer price index, a measure of inflation, rose by 0.5% in May, as expected by analysts, following a 0.6% increase in April, according to data released Wednesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, rose by 0.2%, below the consensus estimate for a 0.3% increase. Core CPI rose by 0.4% in April.* July West Texas Intermediate crude oil rose $2.16 to settle at $90.36 per barrel, while August Brent crude, the global benchmark, was last seen up $1.88 at $93.35.* Devon Energy (DVN) shares were up roughly 5.7%, the top gainer on the S&P 500, after Evercore ISI upgraded the stock to outperform from in line with a $54 price target.* Super Micro Computer (SMCI) shares fell nearly 27%, the steepest decliner on the S&P 500, after the company said late Tuesday it is planning $7 billion worth of equity and equity-linked financing transactions as part of efforts to fund AI orders related to its advanced servers.

Dow JonesNasdaq CompositeS&P 500$DVN$SMCI
Japan

Slumping Semiconductors, Trump's Threat to Iran Push US Equity Indexes Lower

US equity indexes slumped amid a sell-off in high-growth, mega-cap semiconductor names and after President Donald Trump's warning of a "very hard" attack on Iran pushed crude oil higher.The Nasdaq Composite dropped 1.8% to 25,218.5, with the S&P 500 down 1.4% to 7,280.9, and the Dow Jones Industrial Average lower by 1.7% to 50,018.4 ahead of Wednesday's close.In the final leg of trading, Qualcomm (QCOM), Arm (ARM), and Advanced Micro Devices (AMD) were among the 10 worst-performing stocks with market capitalizations exceeding $200 billion, according to data compiled by Finviz.The US will resume attacks on Iran on Wednesday, President Donald Trump said, citing slow progress in talks for a deal to end the war, according to a report from CNN.West Texas Intermediate crude oil futures jumped 2.6% to $90.47, and Brent crude futures climbed 2.3% to $93.51.In economic news, the US seasonally adjusted consumer price index, a measure of inflation, rose by 0.5% in May, as expected, following a 0.6% increase in April, according to data released Wednesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, rose by 0.2%, below the consensus estimate for a 0.3% increase. Core CPI rose by 0.4% in April.In this third month's worth of inflation data since the beginning of Operation Epic Fury, the data continue to show virtually no sign that energy inflation is filtering down into the core, outside of airfare, according to a note from Jefferies.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$QCOM
Update: Equities Fall Intraday as US-Iran Tensions Re-Escalate, Traders Parse Inflation Report
US Markets

Update: Equities Fall Intraday as US-Iran Tensions Re-Escalate, Traders Parse Inflation Report

(Updates with latest market prices and developments.)US benchmark equity indexes were lower intraday and oil prices jumped as tensions between Washington and Iran re-escalated, while traders assessed the latest inflation report.The Nasdaq Composite was down 1.2% at 25,384.3 after midday Wednesday, while the Dow Jones Industrial Average fell 1.3% to 50,238.6. The S&P 500 shed 0.9% to 7,318.4. Among sectors, industrials saw the steepest decline, while energy paced the gainers.West Texas Intermediate crude oil was up 3.7% at $91.44 a barrel, while Brent rose 3.1% to $94.30.Iran will have to "pay the price" for taking too long to agree to a peace deal, US President Donald Trump said in a social media post Wednesday.The US will resume attacks on Iran Wednesday, CNN reported, citing Trump.US forces launched airstrikes Tuesday against Iran after Tehran shot down an American Apache helicopter, Central Command said. Iran launched retaliatory strikes on American military bases across Jordan, Kuwait, and Bahrain, media reports showed."With no imminent deal in sight and with the global oil market tightening significantly every day, we see upside to prices, particularly if these disruptions linger into the third quarter, a period of seasonally stronger oil demand," ING Bank said in a report Wednesday.US Treasury yields were higher intraday, with the 10-year rate up 1.6 basis points at 4.54% and the two-year rate rising one basis point to 4.13%.In economic news, US annual inflation accelerated to the highest in about three years last month, fueling expectations that the Federal Reserve will keep interest rates on hold for some time."The effects of the Iran war continued to surface in May, TD Economics said in a note. "While still relatively contained, cost pressures are starting to be felt beyond just higher prices at the pump, with airfares up over 8% since the start of the war, which is coming atop lingering tariff price effects and still elevated services (ex. shelter) inflation."Markets widely expect the Fed to leave interest rates unchanged next week, which would mark its fourth straight pause, according to the CME FedWatch tool."With gas prices down sharply so far in June, May could mark the peak for headline (consumer price index), although inflation will be slow to decline, keeping the Fed on prolonged hold for most of this year," Oxford Economics said in a note.In company news, Super Micro Computer (SMCI) shares were down 20% intraday, the worst performer on the S&P 500, as the company announced a series of concurrent equity and equity-linked financing transactions amounting to $7 billion.Casey's General Stores (CASY) shares surged nearly 17%. Late Tuesday, the convenience store operator logged better-than-expected fiscal fourth-quarter results.Oracle (ORCL) is scheduled to report after the closing bell Wednesday.Gold was down 3.3% at $4,147 per troy ounce, while silver fell 0.2% to $65.12.

Dow JonesNasdaq CompositeS&P 500$CASY$ORCL$SMCI
Asia Markets

US Equity Indexes Slide, Crude Oil Jumps After Trump Warns of 'Very Hard' Attack on Iran

US equity indexes fell after President Donald Trump threatened Iran with a "very hard" attack in the aftermath of slow progress in peace negotiations and the recent downing of an American Apache helicopter near the Strait of Hormuz.The Nasdaq Composite dropped 1.3% to 25,349.4, with the S&P 500 down 1% to 7,311, and the Dow Jones Industrial Average lower by 1.3% to 50,194.2 after midday Wednesday.Industrials, consumer discretionary, and technology led the decliners, while energy and consumer staples were among the top gainers.Iran is taking "too long to negotiate a deal," and "now they will have to pay the price," Trump said Wednesday. The US launched airstrikes early Wednesday against Iran after the US president blamed Tehran for the crash of an American attack helicopter, and Iran fired back at countries in the region, according to a report from the Associated Press.Iran on Tuesday shot down a US helicopter, and the US responded with attacks on Iranian targets. According to the Wall Street Journal, Iran also attacked US allies in the Persian Gulf region, as well as Jordan.Meanwhile, US commercial crude oil stocks, excluding inventories in the Strategic Petroleum Reserve, fell by 7.2 million barrels during the week ended June 5, following an 8.0-million-barrel decline in the previous week and compared with a 2.2-million-barrel decrease expected in a Bloomberg-compiled survey.West Texas Intermediate crude oil futures jumped 3.9% to $91.62, and Brent crude futures climbed 3.2% to $94.36, trading close to session highs.In precious metals, gold futures slumped 3.1% to $4,154.8.In economic news, the US seasonally adjusted consumer price index, a measure of inflation, rose by 0.5% in May, as expected, following a 0.6% increase in April, according to data released Wednesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, rose by 0.2%, below the consensus estimate for a 0.3% increase. Core CPI rose by 0.4% in April.The year-over-year rates for overall and core CPI increased to 4.2% and 2.9%, respectively, from 3.8% and 2.8% in the previous month. The headline rate was the strongest since April 2023, according to data compiled by Finviz."This was the inflation report that Chair Warsh was dreaming about," Derek Holt, head of capital market economics at Scotiabank, wrote in a note. "Soft underlying inflation and details motivated a slightly lower US 2-year Treasury yield. Markets may be holding back in their reaction, perhaps because escalating tensions in the Middle East are overshadowing data, with conflict and supply chain challenges likely to persist."Most US Treasury yields rose, with the 10-year up 1.2 basis points to 4.54% and the two-year little changed at 4.13%.The market composite index, which measures loan application volume, climbed 11% in the week ended Friday on a seasonally adjusted basis, compared with the prior week's 2.5% decline. On an unadjusted basis, applications increased 21%."Both refinance and purchase applications rebounded coming out of the Memorial Day holiday week," said Mike Fratantoni, the Mortgage Bankers Association's chief economist.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Exchange-Traded Funds Decline as US Equities Fall After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) lost 1.5%.US equity indexes fell after the annual inflation rate jumped to the highest in three years and President Donald Trump's reported comment about Iran "we are going to be attacking them very hard" in the aftermath of the Apache downing.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each gained about 2.5%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) eased 1.6%; iShares US Technology ETF (IYW) fell 1.6%, and iShares Expanded Tech Sector ETF (IGM) was down 1.5%.The State Street SPDR S&P Semiconductor (XSD) fell 3.1%, and iShares Semiconductor (SOXX) shed 3%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) advanced 0.5%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 0.8%.CommoditiesCrude oil rose 3.2%, and the United States Oil Fund (USO) added 3.1%. Natural gas gained 1.9%, and the United States Natural Gas Fund (UNG) was up 1.7%.Gold on Comex slipped 3.3%, and the State Street SPDR Gold Shares (GLD) fell 3.3%. Silver declined 0.4%, and iShares Silver Trust (SLV) was down 0.6%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) was up 1.4%. The Vanguard Consumer Staples ETF (VDC) added 1.5%, and iShares Dow Jones US Consumer Goods (IYK) rose 1.7%.The State Street Consumer Discretionary Select Sector SPDR (XLY) dipped 1.6%. VanEck Retail ETF (RTH) fell fractionally, and the State Street SPDR S&P Retail (XRT) advanced 0.5%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) shed 0.7%, iShares US Healthcare (IYH) fell 0.8%, and Vanguard Health Care ETF (VHT) was down 0.6%. IShares Biotechnology ETF (IBB) dropped 1%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) slipped 2.6%. Vanguard Industrials Index Fund (VIS) lost 2.6%, while iShares US Industrials (IYJ) fell 2.7%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) rose 0.9%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 0.1%, ProShares Ether ETF (EETH) lost 0.5%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.5% 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
Japan

US Equity Indexes Decline as Annual Inflation Rate Jumps to Three-Year High, Trump Unleashes on Iran

US equity indexes fell after the annual inflation rate jumped to the highest in three years and President Donald Trump's reported comment about Iran "we are going to be attacking them very hard" in the aftermath of the Apache downing.The Nasdaq Composite slid 0.7% to 25,501.7, with the S&P 500 down 0.5% to 7,348.8, and the Dow Jones Industrial Average lower by 0.8% to 50,449.1 after midday Wednesday.Industrials, consumer discretionary, and technology led the decliners.The US seasonally adjusted consumer price index, a measure of inflation, rose by 0.5% in May, as expected, following a 0.6% increase in April, according to data released Wednesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, rose by 0.2%, below the consensus estimate for a 0.3% increase. Core CPI rose by 0.4% in April.The year-over-year rates for overall and core CPI increased to 4.2% and 2.9%, respectively, from 3.8% and 2.8% in the previous month. The headline rate was the strongest since April 2023, according to data compiled by Finviz.West Texas Intermediate crude oil futures jumped 2.4% to $90.57, and Brent crude futures climbed 2.3% to $93.71 .Iran is taking "too long to negotiate a deal" and that "now they will have to pay the price," Trump said Wednesday. The US launched airstrikes early Wednesday against Iran after the US president blamed Tehran for the crash of an American attack helicopter, and Iran fired back at countries in the region, according to a report from the Associated Press.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Wednesday Amid Renewed US-Iran Clashes

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 1%, and the actively traded Invesco QQQ Trust (QQQ) retreated by 1.6% in Wednesday's premarket activity, amid renewed clashes between Iran and the US.US stock futures were also lower, with S&P 500 Index futures down 1%, Dow Jones Industrial Average futures slipping 0.9%, and Nasdaq futures retreating 1.5% before the start of regular trading.Mortgage applications rose by 10.8% in the week ended June 5 after a 2.5% decline in Memorial Day week despite an increase in average 30-year mortgage rates, according to Mortgage Bankers Association data released Wednesday.US consumer prices rose 0.5% in May, matching economists' expectations but slowing from a 0.6% increase in April, while core CPI increased 0.2%, below forecasts for a 0.3% gain and down from a 0.4% rise in the prior month.The consumer price index report for May is scheduled for an 8:30 am ET release.The weekly EIA domestic petroleum inventories report will be released at 10:30 am ET.In premarket action, bitcoin was down by 1.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.7% lower, Ether ETF (EETH) retreated by 2.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) lost 0.01%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 2.3%, and the iShares US Technology ETF (IYW) was 2.2% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 2.2%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) fell 4.5%, while the iShares Semiconductor ETF (SOXX) declined by 3.4%.Taiwan Semiconductor Manufacturing (TSM) shares were down more than 3% in premarket activity even after the company reported higher net revenue for the month of May and the period from January to May.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 0.7% higher. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.7%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) retreated by 1.2%.Sea's (SE) shares were down more than 2% pre-bell. Bloomberg reported, citing unnamed people familiar with the matter, that the company's Shopee division is eliminating hundreds of developer positions, affecting about 8% of the platform's developer workforce.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.2%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, while the iShares US Healthcare ETF (IYH) gained 1.2%. The iShares Biotechnology ETF (IBB) was 0.8% lower.Sanofi (SNY) stock was down more than 2% premarket after the company said that it will discontinue a phase 3 trial of its experimental drug riliprubart in patients with a type of chronic inflammatory demyelinating polyneuropathy after an interim review found the study was unlikely to provide "sufficient efficacy."FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.6%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.5% higher.Blackstone (BX) shares were down more than 2% pre-bell after Bloomberg reported the company is divesting Interplex's information and communications technology division to BizLink for roughly $850 million, with the agreement including an additional $50 million earnout based on certain milestones.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.6%, while the Vanguard Industrials Index Fund (VIS) fell 1.6% and the iShares US Industrials ETF (IYJ) was inactive.Core & Main (CNM) stock was down more than 1% before the opening bell, after the company reported unchanged fiscal Q1 net sales.EnergyThe iShares US Energy ETF (IYE) rose 2.5%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.7%.APA (APA) stock was up more than 1% before market open after the company said it has agreed to acquire Savant Alaska for about $70 million in upfront consideration, plus contingent payments related to the development of APA's eastern North Slope portfolio.CommoditiesFront-month US West Texas Intermediate crude oil gained by 2.1% to $90.02 per barrel on the New York Mercantile Exchange. Natural gas was up 2.9% at $3.23 per 1 million British Thermal Units. The United States Oil Fund (USO) rose by 1.6%, while the United States Natural Gas Fund (UNG) was 2.6% higher.Gold futures for July retreated by 2.8% to $4,166.90 an ounce on the Comex. Silver futures declined by 2.3% to $63.72 an ounce. SPDR Gold Shares (GLD) was down by 2.8%, and the iShares Silver Trust (SLV) decreased by 2.4%.

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

US-Iran Flare-Up Drags US Equity Futures Pre-Bell as Middle East Tensions Re-Escalate

US equity futures were edging lower pre-bell Wednesday as the US and Iran once again exchanged attacks after a US Army Apache helicopter was shot down, raising tensions in the Middle East.Dow Jones Industrial Average futures were 0.6% lower, S&P 500 futures were down 0.6%, and Nasdaq futures were 0.7% lower.US Central Command said in an X post that it launched "self-defense strikes" against Iran as a "proportional response to unjustified Iranian aggression," responding to the downing of a US Army helicopter. Iran, which did not claim responsibility for shooting down the chopper, responded with attacks on Bahrain, Kuwait, and Jordan.In a post on Truth Social, US President Donald Trump said that Iran has been "completely defeated." Trump added, "They've taken too long to negotiate a deal that would have been great for them, now they will have to pay the price!!!"Traders look forward to Oracle's (ORCL) fiscal Q4 financial results, scheduled to be released after the market closes.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.8% at $88.93 per barrel and US West Texas Intermediate crude 0.7% higher at $92.05 per barrel.The May consumer price index, released at 8:30 am ET, gained 0.5% as expected, compared with a 0.6% increase in the previous month, according to estimates compiled by Bloomberg.In other world markets, Japan's Nikkei closed 1.9% lower, Hong Kong's Hang Seng ended 0.6% lower, and China's Shanghai Composite finished 0.4% lower. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was 0.9% lower in Europe's early afternoon session.In equities, shares of Nvidia (NVDA), Microsoft (MSFT), and Taiwan Semiconductor Manufacturing (TSM) were all lower as part of a broader sell-off in the tech sector. Nvidia stock was down 1.3%, Microsoft shares fell 0.9%, and Taiwan Semiconductor stock was down 2.3%.On the winning side, CME Group (CME) shares were marginally higher after the company said it launched Nasdaq CME Crypto Index futures. Casey's General Stores (CASY) stock was up 2.1% after the company reported fiscal Q4 earnings and revenue that surpassed analysts' estimates.

Dow JonesNasdaq CompositeS&P 500$CASY$CME$MSFT$NVDA$ORCL$TSM
Japan

US-Iran Flare-Up Drags US Equity Futures Pre-Bell as Middle East Tensions Re-Escalate

US equity futures were lower pre-bell Wednesday as the US and Iran once again exchanged attacks after a US Army Apache helicopter was shot down, raising tensions in the Middle East.Dow Jones Industrial Average futures were 0.9% lower, S&P 500 futures were down 1.1%, and Nasdaq futures were 1.6% lower.US Central Command said in an X post that it launched "self-defense strikes" against Iran as a "proportional response to unjustified Iranian aggression," responding to the downing of a US Army helicopter. Iran, which did not claim responsibility for shooting down the chopper, responded with attacks on Bahrain, Kuwait, and Jordan.In a post on Truth Social, US President Donald Trump said that Iran has been "completely defeated." Trump added, "They've taken too long to negotiate a deal that would have been great for them, now they will have to pay the price!!!"Traders look forward to Oracle's (ORCL) fiscal Q4 financial results, scheduled to be released after the market closes.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $93.04 per barrel and US West Texas Intermediate crude 2% higher at $89.93 per barrel.The May consumer price index, scheduled for release at 8:30 am ET, is seen coming in at 0.5%, compared with 0.6% in the prior month, according to estimates compiled by Bloomberg.

Dow JonesNasdaq CompositeS&P 500$ORCL
Stocks Fall Pre-Bell as US-Iran Tensions Escalate; Key Inflation Data on Deck
US Markets

Stocks Fall Pre-Bell as US-Iran Tensions Escalate; Key Inflation Data on Deck

The main US stock measures were pointing lower in Wednesday's premarket activity as tensions escalate between the US and Iran, while traders await a key consumer inflation report.The S&P 500 and the Dow Jones Industrial Average declined 0.7% each before the opening bell, while the Nasdaq was off 1%. The S&P 500 and the Nasdaq finished Tuesday trading in the red, while the Dow closed higher.In a social media post early Wednesday, President Donald Trump said that the Iranian military has been "completely defeated.""They've taken too long to negotiate a deal that would have been great for them, now they will have to pay the price," Trump wrote.Iran launched strikes against several US military facilities and bases in Bahrain, Jordan and Kuwait early Wednesday, Bloomberg reported, citing Iranian media.In a Tuesday post on X, the US Central Command said its forces launched "self-defense" strikes against Iran in retaliation against Tehran for shooting down a US military helicopter.Trump said on social media that the two pilots on the helicopter were "safe and uninjured," and that the US would respond to the attack. Iran's Mehr news agency reported that several explosions were heard on Qeshm Island, in the Bandar Abbas region of southern Iran, as well as along the southern coast, according to Bloomberg News.West Texas Intermediate crude oil slipped 0.3% to $87.94 a barrel in premarket action, while Brent edged down 0.4% to $91.08."Cumulative losses have now reached 1 billion barrels and are on track to nearly double by year-end under our base case, which still assumes a narrow US-Iran deal in June and a phased reopening of the Strait of Hormuz from mid-July," Aditya Saraswat, Middle East and North Africa research director at Rystad, said in a Tuesday note.The consumer price index report for May is scheduled for an 8:30 am ET release. Official data are expected to show that consumer inflation rose 4.2% annually and 0.5% on a sequential basis, according to a Bloomberg-compiled consensus.Treasury yields were mixed before the open, with the two-year rate increasing 0.3 basis points to 4.13% while the 10-year rate retreated 0.4 basis points to 4.52%.Wednesday's economic calendar also has the weekly mortgage applications bulletin and the weekly EIA domestic petroleum inventories report.Shares of Super Micro Computer (SMCI) dropped 11% pre-bell after the company disclosed a $7 billion equity financing plan to support its artificial intelligence order backlog. Casey's General Stores (CASY) inclined 1.8% after reporting better-than-expected fiscal fourth-quarter results.Oracle (ORCL) is expected to report its latest financial results after the markets close, while Core & Main (CNM) and Chewy (CHWY) post earnings before the bell, among others.Gold decreased 2.2% to $4,194 per troy ounce, while bitcoin slipped 1% to $61,251.

Dow JonesNasdaq CompositeS&P 500$CASY$CHWY$CNM$ORCL$SMCI
International

Tech Bears Prowl Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed lower pre-bell Wednesday as traders again backed away from rich tech- and AI-share valuations, and awaited clarity on Persian Gulf hostilities.In the futures, the S&P 500 rose 0.7%, the Nasdaq declined 1% and the Dow Jones was off 0.7%.The VanEck Semiconductor exchange-traded fund (SMH) traded down 2.6% pre-bell.Investors also await the consumer price index (CPI) bulletin for May from Washington at 8:30 am ET, sure to be examined for signals that might be sent to the Federal Reserve.Asian exchanges traded mostly lower overnight on tech losses, while European bourses tracked moderately south midday on the continent.Oracle (ORCL), the IT giant, reports earnings after-bell.On the economic calendar, in addition to the CPI report, and the weekly EIA petroleum status report at 10:30 am.The weekly MBA mortgage applications bulletin at 7 am ET showed mortgage applications rose by 10.8% in the week ended June 5 after a 2.5% decline in Memorial Day week, according to Mortgage Bankers Association data released Wednesday.In pre-market action, Bitcoin traded at $61,049.5, West Texas Intermediate crude oil rose 1.4% at $89.39, and 10-year US Treasuries offered 4.53%. Spot gold commanded $4,187.97 an ounce.

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Asia Markets

US Equity Indexes Decline as Technology Comes Under Selling Pressure

US equity indexes traded mixed but were off session lows amid a semiconductor-led decline in technology shares on Tuesday.The Nasdaq Composite dropped 1% to 25,678.82, with the S&P 500 down 0.3% to 7,386.65. The Dow Jones Industrial Average rose 0.2% to 50,872.11, after trading lower earlier in the day.Real estate, materials, and health care sectors led the gainers.Technology and energy were the only decliners, down 1.8% and 1.6%, respectively. Marvell Technology (MRVL), Arm (ARM), and Qualcomm (QCOM) declined by at least 5.7% each, the worst-performing three stocks among companies with market capitalizations exceeding $200 billion, according to data compiled by Finviz.SpaceX (SPCX), which is likely to go public on June 12, Amazon-backed (AMZN) Anthropic, and Microsoft-backed (MSFT) OpenAI's upcoming public offerings may drag down broader stock markets, Research Affiliates founder Rob Arnott told Bloomberg News on Friday. Index funds will have to trim their current positions to make room for new entrants.The consumer price index for May is due on Wednesday.The strength in the CPI will largely come from energy, with gasoline up roughly 8% on the month, alongside idiosyncratic pressures, Jefferies said in a note Friday. "Overall, the firm print looks somewhat skewed by energy and one-offs, but still keeps the inflation backdrop sticky in the near term."In precious metals, gold futures dropped 1.8% to $4,283.6, and silver futures slumped 4.6% to $65.44.In energy markets, West Texas Intermediate crude oil futures fell 3.1% to $88.50, and Brent crude futures slid 2.7% to $91.72.A deal to end the war in the Middle East could be reached in "two to three days," with the Strait of Hormuz reopening "immediately" after the agreement is signed, President Donald Trump was cited as saying in a CNBC news report late Monday. The two countries are nearing a pact "that will not in any way allow nuclear weapons," Trump reportedly said."Oil gave back most of Monday's gains after Israel and Iran halted hostilities that had threatened to derail already fragile efforts to secure a broader peace agreement in the Middle East," Saxo Bank wrote in a note. "US President Donald Trump, meanwhile, maintained his typically optimistic tone, saying negotiations are in the 'final throes' of what he expects will be a successful deal."Most US Treasury yields fell, with the 10-year down 3.2 basis points to 4.52%. The two-year rate fell 3.8 basis points to 4.12%.Further in economic news, US existing home sales increased to the highest level since December in May, the National Association of Realtors said. Sales rose 3.2% sequentially to a seasonally adjusted annual rate of 4.17 million units last month.The goods and services deficit narrowed $700 million to $55.9 billion in April from March on a seasonally adjusted basis, the US Census Bureau and the Bureau of Economic Analysis said. The consensus was for a $56.1 billion shortfall in a Bloomberg survey."Soaring oil exports are helping to narrow the US trade gap, with tariffs playing a more minor role in slowing imports," Sal Guatieri, BMO Capital Markets senior economist, said in a note. The export gain was driven by "surging crude sales" while computer hardware and microchips continued to fuel import growth, he said.

Dow JonesNasdaq CompositeS&P 500$AMZN$ARM$MRVL$MSFT$QCOM$SPCX
International

US Equity Markets End Lower Amid Tech Stock Sell-Off

US equity indexes were lower on Tuesday amid a technology stocks sell-off and despite progress in US-Iran peace negotiations.* Technology and energy were standout decliners, down 1.8% and 1.6%, respectively. Marvell Technology (MRVL), Arm (ARM), Dell (DELL), and Qualcomm (QCOM) declined by at least 7% each, according to data compiled by Finviz.* A deal to end the war in the Middle East could be reached in "two to three days," with the Strait of Hormuz reopening "immediately" after the agreement is signed, President Donald Trump was cited as saying in a CNBC news report.* US existing home sales rose 3.2% sequentially to a seasonally adjusted annual rate of 4.17 million units last month.* July West Texas Intermediate crude oil fell $2.73 to settle at $88.57 per barrel, while August Brent crude, the global benchmark, was last seen down $2.41 at $91.87.* J.M. Smucker (SJM) shares rose roughly 10%, the top gainer on the S&P 500, after the company reported better-than-expected fiscal Q4 results on Tuesday, while the food producer's full-year earnings outlook came in above Wall Street's estimates at the midpoint.* Salesforce (CRM) shares were down 3.9%, the worst performer on the Dow. The cloud-based customer relationship management platform provider implemented a fresh round of job cuts, Business Insider reported Tuesday.

Dow JonesNasdaq CompositeS&P 500$ARM$CRM$DELL$MRVL$QCOM$SJM
Japan

Technology Pushes US Equity Indexes Lower

US equity indexes fell following a semiconductor-led sell-off in technology that continued into the final leg of trading on Tuesday.The Nasdaq Composite dropped 1.6% to 25,522.1, with the S&P 500 down 0.8% to 7,346.7, and the Dow Jones Industrial Average lower by 0.1% to 50,708.4. All three gauges were off session lows.Technology and energy were standout decliners, down 2.8% and 1.8%, respectively, ahead of Tuesday's close. Marvell Technology (MRVL), Arm (ARM), and Qualcomm (QCOM) declined by at least 7.3% each, the worst-performing three stocks among companies with market capitalizations exceeding $200 billion, according to data compiled by Finviz.West Texas Intermediate crude oil futures fell 3.5% to $88.11, and Brent crude futures slid 3% to $91.40.A deal to end the war in the Middle East could be reached in "two to three days," with the Strait of Hormuz reopening "immediately" after the agreement is signed, President Donald Trump was cited as saying in a CNBC news report. The two countries are nearing a pact "that will not in any way allow nuclear weapons," Trump was cited as saying."Oil gave back most of Monday's gains after Israel and Iran halted hostilities that had threatened to derail already fragile efforts to secure a broader peace agreement in the Middle East," Saxo Bank wrote in a note. "US President Donald Trump, meanwhile, maintained his typically optimistic tone, saying negotiations are in the 'final throes' of what he expects will be a successful deal."

Dow JonesNasdaq CompositeS&P 500$ARM$MRVL$QCOM
Asia Markets

US Equity Indexes Slump as Semiconductors Lead Big-Tech Slide

US equity indexes dived following a sharp sell-off in technology, led by semiconductors, in midday trading on Tuesday.The Nasdaq Composite dropped 1.8% to 25,468.1, with the S&P 500 down 0.9% to 7,340.8, and the Dow Jones Industrial Average lower by 0.2% to 50,710.5.Technology and energy were standout decliners, down 3.1% and 1.9%, respectively. Marvell Technology (MRVL), Arm (ARM), Dell (DELL), and Qualcomm (QCOM) declined by at least 8% each, the worst-performing stocks among companies with market capitalizations exceeding $200 billion, according to data compiled by Finviz.The real estate, healthcare, and materials sectors led the gainers.West Texas Intermediate crude oil futures fell 3.4% to $88.22, and Brent crude futures dropped 2.8% to $91.60.A deal to end the war in the Middle East could be reached in "two to three days," with the Strait of Hormuz reopening "immediately" after the agreement is signed, President Donald Trump was cited as saying in a CNBC news report. The two countries are nearing a deal "that will not in any way allow nuclear weapons," Trump was cited as saying."Oil gave back most of Monday's gains after Israel and Iran halted hostilities that had threatened to derail already fragile efforts to secure a broader peace agreement in the Middle East," Saxo Bank wrote in a note. "US President Donald Trump, meanwhile, maintained his typically optimistic tone, saying negotiations are in the 'final throes' of what he expects will be a successful deal."Most US Treasury yields fell, with the 10-year down one basis point to 4.54%. The two-year rate fell 2.3 basis points to 4.14%.In precious metals, gold futures dropped 2% to $4,277.5, and silver futures slumped 5.2% to $65.04.US existing home sales increased to the highest level since December in May, the National Association of Realtors said. Sales rose 3.2% sequentially to a seasonally adjusted annual rate of 4.17 million units last month."More Americans are on the move, with home sales rising to the highest level since December. This is great news for the housing market and the economy," NAR Chief Economist Lawrence Yun said. "Improving affordability is helping drive this momentum."The goods and services deficit narrowed $700 million to $55.9 billion in April from March on a seasonally adjusted basis, the US Census Bureau and the Bureau of Economic Analysis said. The consensus was for a $56.1 billion shortfall in a Bloomberg survey."Soaring oil exports are helping to narrow the US trade gap, with tariffs playing a more minor role in slowing imports," Sal Guatieri, BMO Capital Markets senior economist, said in a note. The export gain was driven by "surging crude sales" while computer hardware and microchips continued to fuel import growth, he said.Wholesale inventories rose by 0.6% in April, revised up from a 0.5% increase in the advance reading and following a 1.5% rise in March. Analysts in a Bloomberg-compiled survey expected April inventories to be revised upward to a 0.6% increase.

Dow JonesNasdaq CompositeS&P 500$ARM$DELL$MRVL$QCOM
Asia Markets

Exchange-Traded Funds Fall as US Equities Slump After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) declined 3.6%.US equity indexes slumped after midday on Tuesday amid a sharp sell-off in technology, led by semiconductors.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each shed about 1.7%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) dropped 5.5%; iShares US Technology ETF (IYW) fell 5%, and iShares Expanded Tech Sector ETF (IGM) was down 5.1%.The State Street SPDR S&P Semiconductor (XSD) declined 7.8%, and iShares Semiconductor (SOXX) slipped 6.5%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) added 0.6%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), fell 0.7%.CommoditiesCrude oil fell 3.5%, and the United States Oil Fund (USO) lost 2.9%. Natural gas rose 0.2%, and the United States Natural Gas Fund (UNG) added 0.8%.Gold on Comex dipped 2.1%, and the State Street SPDR Gold Shares (GLD) lost 1.9%. Silver declined 5.5%, and iShares Silver Trust (SLV) was down 5.4%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) was up 1.6%. The Vanguard Consumer Staples ETF (VDC) rose 1.4%, and iShares Dow Jones US Consumer Goods (IYK) added 1.7%.The State Street Consumer Discretionary Select Sector SPDR (XLY) slipped 0.7%. VanEck Retail ETF (RTH) rose 0.4%, and the State Street SPDR S&P Retail (XRT) gained 0.4%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) added 0.9%, iShares US Healthcare (IYH) gained 0.9%, and Vanguard Health Care ETF (VHT) was up 0.8%. IShares Biotechnology ETF (IBB) eased 0.2%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) fell 0.7%. Vanguard Industrials Index Fund (VIS) lost 1%, while iShares US Industrials (IYJ) was 0.5% lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 3.3%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 3.3%, ProShares Ether ETF (EETH) lost 3.5%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 3.4% lower.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH
Japan

US Equity Indexes Sink as Big-Tech Craters in Midday Trading

US equity indexes slumped after midday on Tuesday amid a sharp sell-off in technology, led by semiconductors.The Nasdaq Composite dropped 2.3% to 25,334.1, with the S&P 500 down 1.4% to 7,303.2, and the Dow Jones Industrial Average lower by 0.7% to 50,442.3 in Tuesday's midday trading.Technology and energy were standout decliners, down 3.4% and 2.3%, respectively. Marvell Technology (MRVL), Arm (ARM), and Qualcomm (QCOM) declined by at least 8.8% each, making them the worst-performing three stocks among companies with market capitalizations exceeding $200 billion, according to data compiled by Finviz.The real estate and consumer staples sectors led the gainers.West Texas Intermediate crude oil futures sank 4.6% to $87.13, and Brent crude futures dropped 4% to $90.52."Oil gave back most of Monday's gains after Israel and Iran halted hostilities that had threatened to derail already fragile efforts to secure a broader peace agreement in the Middle East," Saxo Bank wrote in a note. "US President Donald Trump, meanwhile, maintained his typically optimistic tone, saying negotiations are in the 'final throes' of what he expects will be a successful deal."Most US Treasury yields fell, with the 10-year down 2.2 basis points to 4.53% and the two-year dropping 3.4 basis points to 4.12%.

Dow JonesNasdaq CompositeS&P 500$ARM$MRVL$QCOM

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