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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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US Markets104d ago

Equities Fall, Yields Jump Intraday After Jobs Report; Tech Leads Sell-Off

US benchmark equity indexes were lower intraday amid a technology sector-led sell-off, while Treasury yields jumped as markets parsed the latest official jobs report.The Nasdaq Composite was down 3.2% at 25,950.7 after midday Friday, while the S&P 500 fell 2% to 7,434.3. The Dow Jones Industrial Average shed 0.9% to 51,109, after closing at a record high in the previous session.Tech saw the steepest drop among sectors intraday Friday, down 4.7%, while consumer staples paced the gainers.IBM (IBM) shares dropped 6%, the worst performer on the Dow. Cisco Systems (CSCO) and Nvidia (NVDA) followed IBM on the index, down 5.8% and 5.6%, respectively. Several other big tech names also fell. These included Microsoft (MSFT), Oracle (ORCL), Salesforce (CRM), Qualcomm (QCOM), Micron Technology (MU), Advanced Micro Devices (AMD), and Super Micro Computer (SMCI), which tumbled 11% -- the second-worst performer on the S&P 500.In economic news, total nonfarm payrolls in the US rose by 172,000 in May, the Bureau of Labor Statistics said, nearly double the 88,000 increase expected in a Bloomberg-compiled survey."Overall, this was a solid employment report," TD Economics said in a report. "Not only did headline payrolls come in stronger than expected, but revisions to prior months were meaningfully higher and well above six-and-twelve-month averages, suggesting some reacceleration in hiring activity."US Treasury yields were higher intraday, with the 10-year rate up 7.1 basis points at 4.55%, and the two-year rate soaring 11.9 basis points to 4.17%.Markets widely expect the Federal Reserve to leave interest rates unchanged later this month, which would mark its fourth straight pause, according to the CME FedWatch tool."Most (Federal Open Market Committee) participants have said they would prefer to remove the easing bias in the FOMC statement on account of rising inflation risk, and this (jobs) report should reinforce that shift," Morgan Stanley said in a note. "We read this employment report as indicating the Fed can and will remove its easing bias in June."West Texas Intermediate crude oil was down 3.2% at $90.03 a barrel intraday, while Brent fell 2.3% to $92.82.A potential US-Iran peace deal hinges on the Trump administration agreeing to release $24 billion in frozen Iranian assets, CNN reported Friday, citing Mohsen Rezaei, military adviser to Supreme Leader Ayatollah Mojtaba Khamenei."The negotiations are at a deadlock, and (US President Donald) Trump must break this deadlock," Rezaei reportedly said. "The ball is in Trump's court."In company news, FedEx Freight (FDXF) shares jumped 7.8% intraday, the best performer on the S&P 500, as Stifel initiated the stock at hold, with a $160 price target.Gold was down 3.1% at $4,367 per troy ounce, while silver dropped 6.5% to $69.13 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$CRM$CSCO$FDXF$IBM$MSFT$MU$NVDA$ORCL$QCOM$SMCI

Asia Markets104d ago

US Equity Indexes Dive as Blockbuster Jobs Report Set to Eliminate Easing Bias in Fed Policy Statement

US equity indexes sank amid a slide in mega-cap chip names and government bonds, as strong jobs slashed the odds for monetary policy easing this year.The Nasdaq Composite slumped 3% to 26,024.3, with the S&P 500 down 1.8% to 7,448.9, and the Dow Jones Industrial Average lower by 0.8% to 51,148.2 after midday Friday. Technology was the standout decliner, while healthcare and consumer staples topped the gainers.In a third straight month of growth, nonfarm payrolls surged by 172,000 in May, above the 88,000 jobs increase expected in a Bloomberg-compiled survey. April was revised upwards to a 179,000 increase, and March payrolls were revised upwards to a 214,000 increase, the Bureau of Labor Statistics said Friday. The net upward revision came in at 93,000 jobs, bringing the 3-month average of payroll increases to 188,000, the strongest pace since March 2024, according to notes from Morgan Stanley and Stifel."We read this employment report as indicating the Fed can and will remove its easing bias in June," a Morgan Stanley research note said. "Perhaps exaggerated by a surge in state gov't payrolls and in leisure, but unquestionably strong labor demand."The unemployment rate remained at 4.3% in May, per the BLS data, as expected. Hourly earnings rose by 0.3%, as expected, and faster than a 0.2% increase in April.The probability of a 25 basis-point increase in interest rates in December surged to 43%, from 36% a week ago, according to the CME FedWatch tool. The comparisons for September were 33% versus 20%, and, for October, the data showed an increase to 39% from 25%.US Treasury yields soared, with the 10-year up 5.1 basis points to 4.53% and the two-year higher by 10.6 basis points to 4.16%.In precious metals, gold futures dropped 3.3% to $4,356.8, and silver futures slumped 7% to $68.84.Skirmishes continued overnight between Hezbollah and Israel in southern Lebanon after the Iran-backed militant group rejected a US-brokered proposal aimed at securing a broader truce, Bloomberg reported. Even so, Hezbollah's attacks on northern Israel have eased, while Israel has held off striking Beirut after threatening to do so earlier this week, it added.Tehran has made a ceasefire between Israel and Hezbollah a condition for any peace deal with Washington to resolve the regional war and restart shipping through the Strait of Hormuz, Reuters reported.West Texas Intermediate crude oil futures declined 3.4% to $89.92, and Brent crude futures dropped 2.3% to $92.84.In company news, Lululemon Athletica (LULU) shares slumped 9.2%, among the worst performers on the S&P 500, after the company reported a decline in fiscal Q1 earnings and cut its 2026 guidance.Among the top gainers on the index was Cooper (COO), up 7.1%, after the firm reported stronger-than-expected growth in fiscal Q2 adjusted earnings and sales.

Dow JonesNasdaq CompositeS&P 500$COO$LULU

Asia Markets104d ago

Exchange-Traded Funds Fall as US Equities Slump After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV declined. Actively traded Invesco QQQ Trust (QQQ) slumped 3.5%.US equity indexes tumbled, led by tech stocks, after a strong jobs report boosted expectations for an interest-rate increase this year.EnergyIShares US Energy ETF (IYE) fell 1.6%, and the State Street Energy Select Sector SPDR (XLE) lost 1.4%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) slid 5.3%; iShares US Technology ETF (IYW) lost 4.5%, and iShares Expanded Tech Sector ETF (IGM) dropped 4.7%.The State Street SPDR S&P Semiconductor (XSD) plunged 9.4%, and iShares Semiconductor (SOXX) fell 8%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was little changed, paring earlier declines, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), fell 0.1%.CommoditiesCrude oil dropped 3.3%, and the United States Oil Fund (USO) lost 3%. Natural gas and the United States Natural Gas Fund (UNG) each shed 3.5%.Gold on Comex lost 3.1%, and the State Street SPDR Gold Shares (GLD) fell 3.2%. Silver declined 6.4%, and iShares Silver Trust (SLV) fell 6.8%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 2.1%. The Vanguard Consumer Staples ETF (VDC) added 2.1%, and iShares Dow Jones US Consumer Goods (IYK) gained 2.5%.The State Street Consumer Discretionary Select Sector SPDR (XLY) fell 1%. VanEck Retail ETF (RTH) rose 0.7%, and the State Street SPDR S&P Retail (XRT) dropped 0.9%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) climbed 1.5%, iShares US Healthcare (IYH) added 1.3%, and Vanguard Health Care ETF (VHT) rose 1.1%. IShares Biotechnology ETF (IBB) shed 0.8%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) lost 0.6%. Vanguard Industrials Index Fund (VIS) declined 0.6%, while iShares US Industrials (IYJ) fell 1%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 3.5%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 3.5%, ProShares Ether ETF (EETH) shed 10.8%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 5% 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

Japan104d ago

US Equity Indexes Dive as Blockbuster Jobs Report Boosts Fed Rate Increase Bets

US equity indexes slumped amid a sell-off in mega-cap chip names and government bonds, as a strong jobs report lifted the odds for an interest rate increase this year.The Nasdaq Composite sank 2.4% to 26,209.1, with the S&P 500 down 1.4% to 7,478.3, and the Dow Jones Industrial Average lower by 0.6% to 51,277.2 in Friday's midday trading. Technology was the standout decliner, while healthcare and consumer staples topped the gainers.In a third straight month of growth, nonfarm payrolls surged by 172,000 in May, above the 88,000 jobs increase expected in a Bloomberg-compiled survey. April was revised upwards to a 179,000 increase, and March payrolls were revised upwards to a 214,000 increase, the Bureau of Labor Statistics said Friday. The net upward revision came in at 93,000 jobs, bringing the 3-month average of payrolls to 188,000, according to a note from Morgan Stanley.The probability of a 25 basis-point increase in interest rates in December surged to 43%, from 36% a week ago, according to the CME FedWatch tool. The comparisons for September were 33% versus 20%, and, for October, the data showed an increase to 39% from 25%.US Treasury yields soared, with the 10-year up 6.1 basis points to 4.54% and the two-year higher by 10.8 basis points to 4.16%.Skirmishes continued overnight between Hezbollah and Israel in southern Lebanon after the Iran-backed militant group rejected a US-brokered proposal aimed at securing a broader truce, Bloomberg reported. Even so, Hezbollah's attacks on northern Israel have eased, while Israel has held off striking Beirut after threatening to do so earlier this week, it added.West Texas Intermediate crude oil futures declined 2.6% to $90.64, and Brent crude futures dropped 1.8% to $93.35.

Dow JonesNasdaq CompositeS&P 500

Commodities104d ago

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Friday After May Jobs Report

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.5%, and the actively traded Invesco QQQ Trust (QQQ) retreated by 1.3% in Friday's premarket activity, after the May jobs report.US stock futures were mixed, with S&P 500 Index futures down 0.5%, Dow Jones Industrial Average futures gaining 0.1%, and Nasdaq futures retreating 1% before the start of regular trading.US nonfarm payrolls increased by 172,000 in May, exceeding expectations for an 88,000 gain, while the unemployment rate held at 4.3% and average hourly earnings rose 0.3%, in line with forecasts.The weekly Baker Hughes oil-and-gas rig count posts at 1 pm.April's consumer credit data is scheduled for a 3:00 pm ET release.In premarket action, bitcoin was down by 1.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2% lower, Ether ETF (EETH) retreated by 5.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) gained by 0.2%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.3%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) advanced by 0.1%.Lululemon Athletica (LULU) shares were down more than 11% pre-bell after multiple analysts cut their price targets following the athletic apparel retailer's lowering of its full-year outlook amid weak sales trends.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.8%, the Vanguard Health Care Index Fund (VHT) retreated by 0.3%, while the iShares US Healthcare ETF (IYH) slipped 0.7%. The iShares Biotechnology ETF (IBB) was flat.Cooper (COO) was up by nearly 8% premarket after the company reported higher fiscal Q2 adjusted earnings and revenue late Thursday.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.1%, while the Vanguard Industrials Index Fund (VIS) gained 0.5% and the iShares US Industrials ETF (IYJ) was inactive.CAE (CAE) gained by nearly 3% before the opening bell. The company said it has received regulatory approval for the renewal of its normal course issuer bid to purchase, for cancellation, up to about 16.1 million common shares, or about 5% of its outstanding share capital as of May 29.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.Affirm (AFRM) shares were down more than 2% pre-bell after closing the prior session with a 3.7% gain. Affirm and Canada Pension Plan Investment Board said Thursday that they renewed and expanded their forward-flow agreement for consumer installment loans.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.8%, and the iShares US Technology ETF (IYW) was 1.1% lower, while the iShares Expanded Tech Sector ETF (IGM) was up 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 1.7%, while the iShares Semiconductor ETF (SOXX) fell by 3%.Nvidia (NVDA) shares were down 1.8% in premarket activity after ending Thursday's session with a 1.8% increase. Multiple media outlets reported Chief Executive Officer Jensen Huang as saying that the company cleared Samsung Electronics, SK Hynix, and Micron Technology to supply advanced high-bandwidth memory for its HBM4 artificial intelligence accelerators.EnergyThe iShares US Energy ETF (IYE) was up 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was 0.2% higher.X-Energy (XE) stock was up more than 1% before the opening bell a day after the company reported total Q1 revenues and grant income of $43.4 million, representing a 109% increase compared to the prior-year period.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.2% to $92.87 per barrel on the New York Mercantile Exchange. Natural gas was down 0.9% to $3.31 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 0.3%, while the United States Natural Gas Fund (UNG) was 1.7% lower.Gold futures for July retreated by 0.3% to $4,492.60 an ounce on the Comex. Silver futures declined by 1.4% to $72.91 an ounce. SPDR Gold Shares (GLD) was down by 0.2%, and the iShares Silver Trust (SLV) decreased by 1.5%.

Dow JonesNasdaq CompositeS&P 500$AFRM$BETH$BITO$CAE$COO$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LULU$NVDA$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XE$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD

Asia Markets104d ago

US Equity Futures Mostly Lower Pre-Bell Amid Continued Tech Stock Sell-Off, US-Iran War Entering Fourth Month

US equity futures were mostly lower pre-bell Friday as a sell-off in tech stocks continued and the US-Iran conflict entered its fourth month.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were down 0.5%, and Nasdaq futures were 1.2% lower.Broadcom (AVGO) shares were down 2% in premarket activity after plunging 12.6% on Thursday, joining a broader stock sell-off in the semiconductor industry.US President Donald Trump said he would meet with Iranian Supreme Leader Ayatollah Mojtaba Khamenei if a deal is finalized to end the US-Iran war. The ceasefire between the two nations continues to be fragile, with attacks exchanged earlier in the week.Traders took note of the latest round of earnings, with Ciena (CIEN) reporting higher fiscal Q2 adjusted net income and revenue.Oil prices were marginally lower, with front-month global benchmark North Sea Brent crude down 0.1% at $94.93 per barrel and US West Texas Intermediate crude 0.1% lower at $92.95 per barrel.The May national unemployment rate was reported at 4.3%, unchanged from the prior month and meeting estimates compiled by Bloomberg.In other world markets, Japan's Nikkei closed 1.3% lower, Hong Kong's Hang Seng ended 1.2% lower, and China's Shanghai Composite finished 0.7% lower. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was steady in Europe's early afternoon session.In equities, ARM (ARM), Micron Technology (MU), and Marvell Technology (MRVL) shares were all down as traders continued unloading stocks in the semiconductor sector. ARM shares fell 5.5%, Micron stock was down 4.1%, and Marvell shares dropped 3.5%. Lululemon Athletica (LULU) stock was down 11% after the company reported a decline in fiscal Q1 earnings and trimmed its 2026 outlook.On the winning side, ServiceTitan (TTAN) stock was up 13% after the company posted fiscal Q1 results that surpassed analysts' expectations and raised its fiscal 2027 revenue guidance.

Dow JonesNasdaq CompositeS&P 500$ARM$AVGO$CIEN$LULU$MRVL$MU$TTAN

Japan104d ago

US Equity Futures Mostly Lower Pre-Bell Amid Continued Tech Stock Sell-Off, US-Iran War Entering Fourth Month

Dow JonesNasdaq CompositeS&P 500$AVGO$CIEN

US Markets104d ago

Stocks Mostly Down Pre-Bell as Investors Await Key Jobs Report

The benchmark US stock measures were mostly tracking in the red before the open Friday as traders await a key employment report for May.The S&P 500 decreased 0.5% and the Nasdaq was off 1% in premarket activity, while the Dow Jones Industrial Average edged up 0.1%. The indexes finished the previous trading session mostly up, with the Dow recording a fresh closing high.The nonfarm payrolls report for last month is scheduled to be released at 8:30 am ET. Government data is expected to show that the US economy added 85,000 jobs in May, compared with a 115,000 gain reported for the month prior, according to a Bloomberg poll.Job cut announcements in May hit the highest for the month since 2020, Challenger, Gray & Christmas said Thursday, while US weekly applications for unemployment insurance rose unexpectedly. Earlier in the week, ADP (ADP) reported stronger-than-expected private-sector hiring for May.Treasury yields were down in premarket action, with the two-year rate retreating 0.4 basis points to 4.05% and the 10-year rate declining 0.2 basis points to 4.48%.Friday's economic calendar also has the weekly Baker Hughes oil-and-gas rig count at 1 pm.President Donald Trump reportedly said Thursday he'd be "honored" to meet Iran's new Supreme Leader Mojtaba Khamenei if a peace deal is agreed between Washington and Tehran. Mojtaba Khamenei was named the supreme leader in Iran after his father, Ali Khamenei, was killed in strikes by the US and Israel in late February.West Texas Intermediate crude oil slipped 0.2% to $92.87 a barrel before the opening bell, while Brent nudged 0.1% lower to $94.90.Hezbollah leader Naim Qassem on Thursday rejected a US-brokered ceasefire agreement between Israel and Lebanon. The two countries agreed to the truce, subject to Iran-backed Hezbollah ending all fire and evacuating its operatives from the South Litani Sector, according to a joint statement from the US, Israel and Lebanon released Wednesday.But just hours after the deal, Israeli forces and Hezbollah fighters launched strikes, CNN reported Thursday.Shares of Lululemon Athletica (LULU) dropped 13% pre-bell after the athletic apparel retailer lowered its full-year outlook amid certain headwinds and deteriorating sales trends. Micron Technology (MU) declined 3.3% after closing the previous session down 7.7%.ABM Industries (ABM) and G-III Apparel (GIII) report their latest financial results before the bell, among others.Gold decreased 0.3% to $4,491 per troy ounce, while bitcoin slid 1.6% to $62,671.

Dow JonesNasdaq CompositeS&P 500$ABM$GIII$LULU$MU

International104d ago

Tech, Persian Gulf Views Pressure Wall Street Pre-Bell; Asia Off, Europe Up

Wall Street futures largely pointed moderately lower pre-bell Friday, as traders locked into a risk-off mood on rich tech-sector valuations and on lengthening Persian Gulf uncertainties.In the futures, the S&P 500 fell 0.4% and the Nasdaq declined 1%, although the Dow Jones was up 0.1%.Investors also await the May national jobs report from Washington at 8:30 am ET, sure to be plumbed for clues to the strength of the US employment market in the face of higher energy bills.Asian exchanges traded lower overnight, led by a 5.5% divot on Seoul's KOSPI index, as tech shares weakened.European bourses edged higher midday on the continent.Lululemon Athletica (LULU) traded down 13% pre-bell after the apparel maker reported fiscal Q1 results and trimmed guidance late Thursday.On the economic calendar, in addition to the jobs report, is the weekly Baker Hughes domestic oil-and-gas rig count at 1 pm ET, followed by the Federal Reserve's consumer credit report for April at 3 pm.In premarket action, Bitcoin traded at $62,550, West Texas Intermediate crude oil traded off 0.4% at $92.64, and 10-year US Treasuries offered 4.47%. Spot gold commanded $4,464 an ounce.

Dow JonesNasdaq CompositeS&P 500$LULU

International105d ago

US Equity Indexes Mixed as Sliding Technology Pulls Nasdaq Composite Lower, Crude Oil Sinks

US equity indexes were mixed as technology declined amid a broad-based rally, while slumping crude oil futures helped push government bond yields lower.The Dow Jones Industrial Average jumped 1.7% to 51,561.93, and the S&P 500 climbed 0.4% to 7,584.31. The Nasdaq Composite slipped less than 0.1% to 26,830.96.All sectors but technology and consumer staples rose. Healthcare and financials were standout gainers, followed by communication services.Broadcom's (AVGO) decision not to upgrade its 2027 artificial intelligence guidance apparently disappointed investors, especially as the chip designer reported strong semiconductor demand, UBS Securities said in a client note sent Thursday.Broadcom shares fell almost 13%, among the worst performers in the S&P 500 and the Nasdaq, weighing on the so-called artificial intelligence trade in the tech sector. Shares of Micron Technology (MU), Arm (ARM), and Advanced Micro Devices (AMD) were among the worst performers in a group of companies with a market capitalization of more than $200 billion, according to data compiled by Finviz.In geopolitical news, Hezbollah on Thursday rejected the latest ceasefire agreement between Israel and the Lebanese government, demanding a complete Israeli withdrawal from Lebanon as more fighting there hampered efforts to end the Iran war, the Associated Press reported.This comes as the House on Wednesday approved a war powers resolution that would halt US military action against Iran, according to a separate Associated Press report. If the resolution were to pass in the Senate, where 50 of 100 senators have appeared to support it, President Donald Trump would be required to either withdraw troops from Iran or gain approval from Congress for the war, according to an analysis from CNN.The White House, which has signaled it believes the underlying law is unconstitutional, could try to ignore the resolution, per CNN.Meanwhile, Tehran and Washington have issued contradictory messages over the status of ceasefire discussions, CNN reported. Trump said Thursday that a deal could be reached "this weekend," while Iran's foreign minister said there's been no "significant process," the news report said.West Texas Intermediate crude oil futures slumped 3.2% to $92.99, and Brent crude futures dropped 2.7% to $95.17.US Treasury yields fell, with the 10-year down 1.6 basis points to 4.48% and the two-year lower by 3.9 basis points to 4.05%.In precious metals, gold futures climbed 0.9% to $4,505.70, and silver futures advanced 0.7% to $74.20.In US economic news, employers announced 97,006 layoffs in May, the highest for the month since 2020, up 16% from April and 3% from a year earlier, with the shift toward artificial intelligence still the leading reason for cuts, Challenger, Gray & Christmas said Thursday."On top of the headline AI story, we're seeing a sharp rise in cuts tied to acquisitions and mergers and a jump in bankruptcy-related losses, which tells me companies are restructuring aggressively as they reposition for an AI-driven economy," Andy Challenger, the firm's chief revenue officer, said in a statement. "The labor market is being reshaped by technology in real time."US initial jobless claims rose to 225,000 in the week ended May 30 from a downwardly revised 212,000 in the previous week, compared with expectations for 215,000 in a survey of analysts compiled by Bloomberg. The four-week moving average jumped by 6,500 to 214,750.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$AVGO$MU

US Markets105d ago

Dow Logs New High Even as Tech Underperforms

The Dow Jones Industrial Average resumed its record-setting advance on Thursday, even as the technology sector underperformed amid a sell-off in Broadcom (AVGO) and CrowdStrike (CRWD) shares.The Dow rose 1.7% to 51,561.9, notching a fresh closing high after falling on Wednesday for the first time in six sessions. The S&P 500 gained 0.4% to 7,584.3, while the Nasdaq Composite fell 0.1% to 26,831.Barring tech and consumer staples, all sectors ended in the green, led by healthcare.In company news, Broadcom shares tumbled nearly 13%, the second-worst performer on the S&P 500 as the company's artificial intelligence revenue outlook fell short of the market's bullish expectations.The company's decision not to upgrade its 2027 guidance for AI sales apparently disappointed investors, especially as the chip designer reported strong semiconductor demand for its fiscal second quarter, UBS Securities analysts said.CrowdStrike reported strong fiscal first-quarter results amid accelerating demand for AI, but questions around performance sustainability remain, BofA Securities said. The stock fell 3.8%.Ciena (CIEN) plunged nearly 14%, the steepest decline on the S&P 500, despite providing an upbeat fiscal third-quarter revenue outlook. The networking systems and software company's results topped market estimates in the prior three-month period."AI and cybersecurity remain important long-term themes, but popular themes can carry heavy expectations," Ruben Dalfovo, investment strategist at Saxo Bank, said in a report. "In a hot market, even excellent earnings may need to bring their own fire extinguisher."UnitedHealth (UNH) climbed 5.2%, the top gainer on the Dow, after BofA Securities upgraded its rating on the stock to buy from neutral.West Texas Intermediate crude oil was down 3% at $93.19 a barrel in Thursday late-afternoon trade, while Brent fell 2.6% to $95.30.Israel and Lebanon agreed to implement a ceasefire, subject to Iran-backed Hezbollah ending all fire and evacuating its operatives from the South Litani Sector, according to a joint statement from the US, Israel and Lebanon released Wednesday.But just hours after the deal, Israeli forces and Hezbollah fighters launched strikes, CNN reported."News that Israel and Lebanon agreed on a ceasefire could potentially open the door for talks to advance," ING Bank said in a report on Thursday. "Every day that passes without a resumption of oil flows (through the Strait of Hormuz) leaves the market increasingly vulnerable. This increases the pressure to strike a deal."In economic news, job cut announcements in May hit the highest for the month since 2020, Challenger, Gray & Christmas said Thursday, while US weekly applications for unemployment insurance rose unexpectedly."On top of the headline AI story, we're seeing a sharp rise in cuts tied to acquisitions and mergers and a jump in bankruptcy-related losses, which tells me companies are restructuring aggressively as they reposition for an AI-driven economy," Andy Challenger, the firm's chief revenue officer, said in a statement. "The labor market is being reshaped by technology in real time."The Challenger report arrives a day before the May nonfarm payrolls release. Economists surveyed by Bloomberg expect 85,000 new jobs, down from 115,000 in April, with the unemployment rate seen holding at 4.3%.US Treasury yields were lower, with the 10-year rate down 2.4 basis points at 4.48%, and the two-year rate falling three basis points to 4.06%.Gold was last up 0.9% at $4,507 per troy ounce, while silver rose 0.8% to $74.31 per ounce.

Dow JonesNasdaq CompositeS&P 500$AVGO$CIEN$CRWD$UNH

International105d ago

US Equity Markets Mixed Amid Technology Stock Sell-Off, Decline in Crude Oil Prices

US equity indexes were mixed on Thursday amid a sell-off in tech stocks and a decline in crude oil futures, along with lower government bond yields.* Challenger, Gray & Christmas said Thursday employers announced 97,006 layoffs in May, the highest for the month since 2020, up 16% from April and 3% from a year earlier.* US initial jobless claims rose to 225,000 in the week ended May 30 from a downwardly revised 212,000 in the previous week, compared with expectations for 215,000 in a survey of analysts compiled by Bloomberg.* The Associated Press reported on Thursday that Hezbollah rejected the latest ceasefire agreement between Israel and the Lebanese government, while the media outlet separately reported that the US House on Wednesday approved a war powers resolution that would halt US military action against Iran.* July West Texas Intermediate crude oil fell $2.86 to settle at $93.16 per barrel, while August Brent crude, the global benchmark, was last seen down $2.53 at $95.28.* Blackstone's (BX) shares were up about 8.3%, the top gainer on the S&P 500, after its Blackstone Private Credit Fund unit reportedly said repurchase requests equaled about 10% of shares outstanding in Q2, but it will fulfill requests representing just 5% of its value.* Broadcom (AVGO) shares fell roughly 12%, the steepest decline on the Nasdaq, after it reported fiscal Q2 results late Wednesday. The company's fiscal Q3 and 2027 AI revenue outlook fell short of investor expectations, while Q2 results were slightly ahead of consensus, RBC and UBS said in separate notes.

Dow JonesNasdaq CompositeS&P 500$AVGO$BX

International105d ago

US Equity Indexes Rise Amid Broad-Based Rally in Final Leg of Trading

US equity indexes rose ahead of Thursday's close as technology partially clawed back intraday declines, helping widen a broad-based rally.The Dow Jones Industrial Average jumped 1.9% to 51,634.6, and the S&P 500 climbed 0.5% to 7,593.2. The Nasdaq Composite edged up 0.1% to 26,896.7, after trading lower earlier in the session.All sectors but technology and consumer staples rose. Healthcare and financials were standout gainers, followed by communication services.Broadcom's (AVGO) decision not to upgrade its 2027 artificial intelligence guidance apparently disappointed investors, especially as the chip designer reported strong semiconductor demand, UBS Securities said in a client note sent Thursday.Broadcom shares fell more than 13%, among the worst performers in the S&P 500 and the Nasdaq, weighing on the so-called artificial intelligence trade. Shares of Micron Technology (MU), Arm (ARM), and Advanced Micro Devices (AMD) were among the worst performers in a group of companies with a market capitalization of more than $200 billion, according to data compiled by Finviz.In geopolitical news, Hezbollah on Thursday rejected the latest ceasefire agreement between Israel and the Lebanese government, demanding a complete Israeli withdrawal from Lebanon as more fighting there hampered efforts to end the Iran war, the Associated Press reported.This comes as the House on Wednesday approved a war powers resolution that would halt US military action against Iran, according to a separate Associated Press report. If the resolution were to pass in the Senate, where 50 of 100 senators have appeared to support it, US President Donald Trump would be required to either withdraw troops from Iran or gain approval from Congress for the war, according to an analysis from CNN.The White House, which has signaled it believes the underlying law is unconstitutional, could try to ignore the resolution, per CNN.West Texas Intermediate crude oil futures slumped 3% to $93.14, and Brent crude futures dropped 2.7% to $95.18.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$AVGO$MU

US Markets105d ago

Equities Higher Intraday as Broadcom Sell-Off Weighs on Tech Sector

US benchmark equity indexes were higher intraday, even as a sell-off in Broadcom (AVGO) shares weighed on the technology sector.The Dow Jones Industrial Average was up 1.6% at 51,517.2 after midday Thursday, while the S&P 500 rose 0.4% to 7,586.8. The Nasdaq Composite edged up 0.1% to 26,872. Barring technology and materials, all sectors were in the green, led by healthcare.In company news, Broadcom shares were down nearly 12% intraday, the second-worst performer on the S&P 500 as the company's artificial intelligence revenue outlook fell short of the market's bullish expectations.The company's decision not to upgrade its 2027 guidance for AI sales apparently disappointed investors, especially as the chip designer reported strong semiconductor demand for its fiscal second quarter, UBS Securities analysts said.CrowdStrike (CRWD) reported strong fiscal first-quarter results amid accelerating demand for artificial intelligence, but questions around the company's performance sustainability remain, BofA Securities said. The stock was down 4.6%.Ciena (CIEN) plunged 15% despite providing an upbeat fiscal third-quarter revenue outlook on Thursday. The networking systems and software company's results topped market estimates in the prior three-month period.UnitedHealth (UNH) was up 5% intraday, the top gainer on the Dow, after BofA Securities upgraded its rating on the stock to buy from neutral.West Texas Intermediate crude oil was down 3.9% at $92.27 a barrel intraday Thursday, while Brent fell 3.2% to $94.67.Israel and Lebanon agreed to implement a ceasefire, subject to Iran-backed Hezbollah ending all fire and evacuating its operatives from the South Litani Sector, according to a joint statement from the US, Israel and Lebanon released Wednesday.But just hours after the deal, Israeli forces and Hezbollah fighters launched strikes, CNN reported."News that Israel and Lebanon agreed on a ceasefire could potentially open the door for talks to advance," ING Bank said in a report on Thursday. "Every day that passes without a resumption of oil flows (through the Strait of Hormuz) leaves the market increasingly vulnerable. This increases the pressure to strike a deal."In economic news, job cut announcements in May hit the highest for the month since 2020, Challenger, Gray & Christmas said Thursday, while US weekly applications for unemployment insurance rose unexpectedly."On top of the headline AI story, we're seeing a sharp rise in cuts tied to acquisitions and mergers and a jump in bankruptcy-related losses, which tells me companies are restructuring aggressively as they reposition for an AI-driven economy," Andy Challenger, the firm's chief revenue officer, said in a statement. "The labor market is being reshaped by technology in real time."The Challenger report arrives a day before the May nonfarm payrolls release. Economists surveyed by Bloomberg expect 85,000 new jobs, down from 115,000 in April, with the unemployment rate seen holding at 4.3%.US Treasury yields were lower intraday, with the 10-year rate down 2.8 basis points at 4.47%, and the two-year rate falling 3.3 basis points to 4.05%.Gold was up 0.9% at $4,508.50 per troy ounce, while silver rose 0.8% to $74.28 per ounce.

Dow JonesNasdaq CompositeS&P 500$AVGO$CIEN$CRWD$UNH

International105d ago

US Equity Indexes Rise as Treasury Yields Decline With Crude Oil

US equity indexes rose in midday trading Thursday amid a broad-based rally as a decline in crude oil futures helped push government bond yields lower.The Dow Jones Industrial Average jumped 1.6% to 51,516.9, the S&P 500 rose 0.5% to 7,591.9, and the Nasdaq Composite added 0.2% to 26,899.5 in Thursday's midday trading.All sectors but technology and materials rose, with healthcare, financials, and communication services topping the gainers.Broadcom's (AVGO) decision not to upgrade its 2027 artificial intelligence guidance apparently disappointed investors, especially as the chip designer reported strong semiconductor demand, UBS Securities said in a client note sent Thursday. Broadcom shares fell more than 11%, among the worst performers on the S&P 500 and the Nasdaq.In economic news, employers announced 97,006 layoffs in May, the highest for the month since 2020, up 16% from April and 3% from a year earlier, with the shift toward artificial intelligence still the leading reason for cuts, Challenger, Gray & Christmas said Thursday."On top of the headline AI story, we're seeing a sharp rise in cuts tied to acquisitions and mergers and a jump in bankruptcy-related losses, which tells me companies are restructuring aggressively as they reposition for an AI-driven economy," Andy Challenger, the firm's chief revenue officer, said in a statement. "The labor market is being reshaped by technology in real time."US initial jobless claims rose to 225,000 in the week ended May 30 from a downwardly revised 212,000 in the previous week, compared with expectations for 215,000 in a survey of analysts compiled by Bloomberg. The four-week moving average jumped by 6,500 to 214,750.In geopolitical news, Hezbollah on Thursday rejected the latest ceasefire agreement between Israel and the Lebanese government, demanding a complete Israeli withdrawal from Lebanon as more fighting there hampered efforts to end the Iran war, the Associated Press reported.This comes as the House on Wednesday approved a war powers resolution that would halt US military action against Iran, according to a separate Associated Press report. If the resolution were to pass in the Senate, where 50 of 100 senators have appeared to support it, US President Donald Trump would be required to either withdraw troops from Iran or gain approval from Congress for the war, according to an analysis from CNN.The White House, which has signaled it believes the underlying law is unconstitutional, could try to ignore the resolution, per CNN.Brent crude futures dropped 3% to $94.81, and West Texas Intermediate crude oil futures fell 3.5% to $92.67.US Treasury yields fell, with the 10-year down 2.4 basis points to 4.47% and the two-year lower by 3.9 basis points to 4.05%.In precious metals, gold futures climbed 0.8% to $4,503.3, and silver futures advanced 0.4% to $73.96.

Dow JonesNasdaq CompositeS&P 500$AVGO

Asia Markets105d ago

Exchange-Traded Funds Rise, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV edged higher. Actively traded Invesco QQQ Trust (QQQ) eased 0.5%.US equity indexes were mixed in midday trading on Thursday amid a decline in technology shares, government bond yields, and crude oil futures.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 0.4%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was 1.7% lower; iShares US Technology ETF (IYW) lost 0.6%, and iShares Expanded Tech Sector ETF (IGM) was down 1.7%.The State Street SPDR S&P Semiconductor (XSD) slipped 0.7%, and iShares Semiconductor (SOXX) fell 2.1%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 2.8%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 8.1%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 8.2%.CommoditiesCrude oil dropped 3.6%, and the United States Oil Fund (USO) eased 3.7%. Natural gas gained 4.5%, and the United States Natural Gas Fund (UNG) was up 3.7%.Gold on Comex rose 1%, and the State Street SPDR Gold Shares (GLD) was up 0.8%. Silver added 0.5%, and iShares Silver Trust (SLV) gained 0.9%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 0.3%. The Vanguard Consumer Staples ETF (VDC) added 0.5%, and iShares Dow Jones US Consumer Goods (IYK) gained 0.3%.The State Street Consumer Discretionary Select Sector SPDR (XLY) added 0.4%. VanEck Retail ETF (RTH) advanced 1.1%, and the State Street SPDR S&P Retail (XRT) rose 0.1%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) climbed up 2.9%, iShares US Healthcare (IYH) added 2.8%, and Vanguard Health Care ETF (VHT) rose 2.9%. IShares Biotechnology ETF (IBB) advanced 2.5%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) gained 1%. Vanguard Industrials Index Fund (VIS) was up 1%, while iShares US Industrials (IYJ) rose 1.4%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 2.2%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 2.8%, ProShares Ether ETF (EETH) shed 2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 1.8% lower.

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

Japan105d ago

US Equity Indexes Mixed in Midday Trading as Tech Takes Beating

US equity indexes were mixed in midday trading on Thursday amid a decline in technology shares, government bond yields, and crude oil futures.The Nasdaq Composite fell 0.3% to 26,778.1 in Thursday's midday trading. The Dow Jones Industrial Average jumped 1.7% to 51,530.2, and the S&P 500 rose 0.2% to 7,569.5.All sectors but technology and utilities rose, with healthcare, financials, and communications services topping the gainers.Broadcom (AVGO) shares sank 14%, among the worst performers on the S&P 500 and the Nasdaq.Hezbollah on Thursday rejected the latest ceasefire agreement between Israel and the Lebanese government, demanding a complete Israeli withdrawal from Lebanon as more fighting there hampered efforts to end the Iran war, the Associated Press reported. This comes as the House on Wednesday approved a war powers resolution that would halt US military action against Iran, according to a separate Associated Press report.If the resolution were to pass in the Senate, where 50 of 100 senators have appeared to support it, US President Donald Trump would be required to either withdraw troops from Iran or gain approval from Congress for the war, according to an analysis from CNN. The White House, which has signaled it believes the underlying law is unconstitutional, could try to ignore the resolution, per CNN.Brent crude futures dropped 3% to $94.81, and West Texas Intermediate crude oil futures fell 3.5% to $92.67.

Dow JonesNasdaq CompositeS&P 500$AVGO

Asia Markets105d ago

US Equity Futures Mixed Pre-Bell as Broadcom Falls, Clashes Continue in Middle East

US equity futures were mixed pre-bell Thursday as traders watched tech giant Broadcom's (AVGO) stock drop after the company posted its fiscal Q2 financial results and attacks continued in the Middle East.Dow Jones Industrial Average futures were 0.9% higher, S&P 500 futures were down 0.4%, and Nasdaq futures were 1.2% lower.Broadcom shares were down 15% in premarket activity as the company issued below-consensus guidance for fiscal Q3 AI-chip revenue.Kuwait reported that an Iranian missile and drone strike hit the country's international airport, killing one person and injuring dozens more. Iran claimed that it launched a retaliatory attack on US military bases in Kuwait after an earlier set of airstrikes by US forces.Traders also digested the latest round of earnings, with CrowdStrike (CRWD) posting higher fiscal Q1 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3% at $94.89 per barrel and US West Texas Intermediate crude 3.2% lower at $92.97 per barrel.The weekly jobless claims bulletin, released at 8:30 am ET, showed 225,000 new unemployment claims for the week ended May 2, compared with the downwardly revised figure of 212,000 in the prior week, and it came in above the 215,000 expected, according to estimates compiled by Bloomberg. Q1 nonfarm productivity increased at a 0.3% annual rate, below forecasts for 0.4%, while unit labor costs increased 1.8%, compared with the 2.4% expected.Federal Reserve Richmond President Thomas Barkin and San Francisco President Mary Daly are slated to speak on Thursday.In other world markets, Japan's Nikkei closed 1.4% lower, Hong Kong's Hang Seng ended 1.5% lower, and China's Shanghai Composite finished 0.6% lower. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was 0.6% higher in Europe's early afternoon session.In equities, CrowdStrike stock was down 10% after the company reported its fiscal Q1 financial results. ARM (ARM), Micron Technology (MU), and Marvell Technology (MRVL) shares were all down as part of a broader stock sell-off in the semiconductor industry. ARM shares fell 6%, Micron stock was down 6.4%, and Marvell shares dropped 5.9%.On the winning side, Eli Lilly (LLY) was up 1.3% after Ascidian Therapeutics said the company will receive exclusive, target-specific rights to Ascidian's RNA exon editing technology for undisclosed kidney disease targets in exchange for up to $1.9 billion under a new research partnership and licensing agreement. Costco Wholesale (COST) shares rose 2.3% after the company reported net sales of $24.01 billion for May, up from $20.97 billion a year earlier. RTX (RTX) stock was up 2.2% after the company said that its Raytheon unit was awarded a $515 million contract from the US Navy for the SPY-6 family of radars.

Dow JonesNasdaq CompositeS&P 500$ARM$AVGO$COST$CRWD$LLY$MRVL$MU$RTX

Commodities105d ago

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Thursday as Investors Weigh Economic Data

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4%, and the actively traded Invesco QQQ Trust (QQQ) fell by 1.2% in Thursday's premarket activity, as investors weighed economic data amid corporate earnings.US stock futures were mixed, with S&P 500 Index futures down 0.5%, Dow Jones Industrial Average futures gaining 0.4%, and Nasdaq futures retreating 1.3% before the start of regular trading.US employers announced 97,006 planned job cuts in May, the highest total for the month since 2020, driven largely by reductions in the technology sector, according to Challenger, Gray & Christmas on Thursday.US initial jobless claims rose to 225,000, above expectations of 215,000 and up from 212,000 in the prior week.US nonfarm productivity growth for the first quarter was revised down to an annualized rate of 0.3% from a preliminary estimate of 0.8%, falling short of expectations for a 0.4% increase, while unit labor cost growth was revised down to 1.8% from 2.3%, below forecasts of a 2.4% gain.Weekly natural gas stocks are due to be released at 10:30 am ET.Federal Reserve Richmond President Thomas Barkin and San Francisco President Mary Daly are slated to speak on Thursday.In premarket action, bitcoin was down by 4.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.4% lower, Ether ETF (EETH) retreated 3.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 3%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 1.5%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 1.4%. The iShares US Consumer Staples ETF (IYK) was 0.8% higher. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced by 0.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.5%.LGI Homes (LGIH) shares were down more than 4% pre-bell after falling 5% at the prior close. The company said late Wednesday that it closed 498 homes in May, compared with 416 homes a year earlier.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 1.5%, the Vanguard Health Care Index Fund (VHT) was up 1.2%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 1% higher.BrightSpring Health Services (BTSG) stock was down more than 3% premarket after the company said late Wednesday it has priced a secondary offering by certain shareholders of 15 million shares at $58.75 per share.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.8%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was up 1%.X-Energy (XE) stock was down more than 3% before the opening bell after the company reported a wider Q1 net loss.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 2.3%, and the iShares US Technology ETF (IYW) was 1.6% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 2.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) fell by 3.8%, while the iShares Semiconductor ETF (SOXX) declined by 4.3%.Accenture (ACN) shares were up more than 2% in premarket activity after the company agreed to a deal to embed AI and digital technologies in the operations of Tokyo Electric Power subsidiary TEPCO Solution Advance.EnergyThe iShares US Energy ETF (IYE) gained 0.1%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.7%.Clean Energy Fuels (CLNE) stock was up more than 1% before the opening bell after the company said it has begun producing renewable natural gas at its East Valley Dairy facility in Jerome, Idaho, its eighth dairy RNG project.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 2.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 3% lower.Marsh & McLennan (MRSH) shares were up more than 1% pre-bell after the insurance broker and certain units signed a new $4.25 billion multi-currency unsecured five-year revolving credit facility with Citibank (C).CommoditiesFront-month US West Texas Intermediate crude oil retreated by 3.7% to $92.46 per barrel on the New York Mercantile Exchange. Natural gas was up 1.2% to $3.25 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 3.9%, while the United States Natural Gas Fund (UNG) was 1.1% higher.Gold futures for July gained by 1.6% to $4,539.90 an ounce on the Comex. Silver futures advanced by 1.5% to $74.77 an ounce. SPDR Gold Shares (GLD) was up by 1.1%, and the iShares Silver Trust (SLV) increased by 1.3%.

Dow JonesNasdaq CompositeS&P 500$ACN$BETH$BITO$BTSG$C$CLNE$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LGIH$MRSH$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XE$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD

Japan105d ago

US Equity Futures Mixed Pre-Bell as Broadcom Stock Falls, Clashes Continue in Middle East

US equity futures were mixed pre-bell Thursday as traders watched tech giant Broadcom (AVGO) stock drop after the company posted its fiscal Q2 financial results and attacks continued in the Middle East.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were down 0.5%, and Nasdaq futures were 1.4% lower.Broadcom shares were down 15% in premarket activity as the company issued below-consensus guidance for fiscal Q3 AI-chip revenue.Kuwait reported that an Iranian missile and drone strike hit the country's international airport, killing one person and injuring dozens more. Iran claimed that it launched a retaliatory attack on US military bases in Kuwait after an earlier set of airstrikes by US forces.Traders also digested the latest round of earnings, with CrowdStrike (CRWD) posting higher fiscal Q1 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.7% at $95.16 per barrel and US West Texas Intermediate crude 2.7% lower at $93.43 per barrel.The weekly jobless claims bulletin, scheduled for release at 8:30 am ET, is expected to show 215,000 new unemployment claims for the week ended May 30, unchanged from the prior week, according to estimates compiled by Bloomberg. The Q1 nonfarm productivity report is expected to show an annual gain of 0.4% after a 0.8% increase in the prior quarter. Unit labor costs are projected to rise 2.4%, compared with 2.3% previously.Federal Reserve Richmond President Thomas Barkin and San Francisco President Mary Daly are slated to speak on Thursday.

Dow JonesNasdaq CompositeS&P 500$AVGO$CRWD

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