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637 stories mentioning Dow Jones Industrial AverageUpdated 2h ago

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

Japan

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 Markets

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
Commodities

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
Japan

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
Stocks Mostly Down Pre-Bell as Middle East Concerns Persist
US Markets

Stocks Mostly Down Pre-Bell as Middle East Concerns Persist

US equity markets were mostly pointing lower before the opening bell Thursday as Middle East uncertainty continued to weigh on sentiment.The S&P 500 declined 0.5% and the Nasdaq fell 1.2% in premarket activity, while the Dow Jones Industrial Average rose 0.5%. The indexes finished the previous trading session in the red, with the S&P 500 snapping a nine-day winning streak.Iran reportedly launched strikes targeting US bases in Kuwait and Bahrain, as well as a vessel near the Strait of Hormuz, in a significant escalation since a ceasefire took effect in April, several media outlets reported Wednesday. Earlier in the week, the US Central Command said it conducted self-defense strikes on Qeshm Island in response to attempted attacks by Iran across the Middle East.The Republican-led House voted 215-208 Wednesday to limit President Donald Trump's war powers in Iran, CNN reported.Trump suggested on Wednesday that there could be progress in negotiations with Iran as soon as this weekend, CNBC reported. Iranian Foreign Minister Abbas Araghchi said contacts with Washington have not been cut off, but there has been no progress in discussions, according to the report.Israel and Lebanon agreed on Wednesday to implement a ceasefire, subject to Iran-backed Hezbollah ending all fire and evacuating its operatives from the South Litani Sector, the US State Department said in a statement.West Texas Intermediate crude oil decreased 1% to $95.06 a barrel before the open, while Brent moved down 1.3% to $96.60.Treasury yields were down in premarket action, with the two-year rate retreating 3.1 basis points to 4.05% and the 10-year rate off 1.4 basis points to 4.48%.Employers in the US announced 97,006 layoffs in May, up 16% from the month prior and 3% year over year, according to Challenger, Gray & Christmas' latest report. Thursday's economic calendar also has the weekly jobless claims bulletin.On Wednesday, data from payroll processing firm ADP (ADP) showed that employment in the US private sector increased more than expected in May. The government's nonfarm payrolls report for May is scheduled to be released on Friday.Federal Reserve Bank of Richmond President Thomas Barkin is slated to speak at 8:30 am ET, while San Francisco Fed President Mary Daly speaks at 1:10 pm.Most Federal Reserve districts saw slight to moderate growth in economic activity since mid-April, while consumer spending remained mixed, the US central bank said in its latest Beige Book released Wednesday.Space Exploration Technologies, widely known as SpaceX, is aiming to raise about $75 billion in what could be the biggest initial public offering of all time.Broadcom (AVGO) and CrowdStrike (CRWD) dropped 11% each pre-bell after reporting their latest financial results.Ciena (CIEN), Brown Forman (BF.A, BF.B) and Toro (TTC) report their quarterly earnings before the bell, among others. Lululemon Athletica (LULU), Guidewire Software (GWRE) and DocuSign (DOCU) post results after the markets close.Gold gained 0.7% to $4,497 per troy ounce, while bitcoin dropped 4.9% to $62,329.

Dow JonesNasdaq CompositeS&P 500$AVGO$BF.A$BF.B$CIEN$CRWD$DOCU$GWRE$LULU$TTC
International

Broadcom, Persian Gulf Tensions Blunt Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed largely lower pre-bell Thursday after chipmaker Broadcom (AVGO) issued tempered guidance, and following media reports of escalating hostilities in the Persian Gulf.In futures, the S&P 500 fell 0.5% and the Nasdaq declined 1.2%, although the venerable Dow Jones was up 0.4%.Broadcom traded down 13.9% pre-bell after the chipmaker issued below-consensus fiscal Q3 AI-related semiconductor-revenue guidance late Wednesday.CrowdStrike (CRWD) fell 10.6% pre-bell after the cybersecurity outfit reported fiscal Q1 results that topped consensus, but only marginally, after the market closed Wednesday.Asian exchanges traded lower overnight on the Middle East outlook and profit-taking in tech issues. European bourses tracked modestly lower midday on the continent.In economic news, US companies planned to cut 97,006 jobs in May, up from 83,387 in April and 93,816 a year ago, outplacement firm Challenger, Gray & Christmas reported.On the economic calendar are the weekly jobless claims report and the Q1 productivity and costs bulletin at 8:30 am.The weekly EIA natural gas report is due at 10:30 am.Federal Reserve Richmond President Thomas Barkin and San Francisco President Mary Daly are slated to speak on Thursday.In pre-market action, Bitcoin traded at $62,445, West Texas Intermediate crude oil traded down 1% at $95.02, and 10-year US Treasuries offered 4.48%. Spot gold commanded $4,467 an ounce.

Dow JonesNasdaq CompositeS&P 500
International

US Equity Indexes Fall, Crude Oil Rises as Stalled Peace Talks Push Out Hormuz Reopening Timeline

US equity indexes fell as higher crude oil helped push government bond yields higher after the stalled Iran peace talks extended the timeline for the reopening of the Strait of Hormuz.The Dow Jones Industrial Average dropped 1.2% to 50,687.07, with the Nasdaq Composite down 0.9% to 26,853.98 and the S&P 500 lower by 0.7% to 7,553.68. Technology, financials, and consumer discretionary led the decliners, while energy was the top gainer at the close.No progress has been made in peace negotiations, Al Jazeera cited Iran's Foreign Minister Abbas Araghchi as saying, referring to talks between Tehran and Washington. However, the contact with the United States has not been cut off, Araghchi reportedly said.The US and Iran exchanged heavy fire on Tuesday evening, setting off attacks by both sides that included strikes on US bases in Kuwait and Bahrain, The Wall Street Journal reported. A barrage of ballistic missiles and drones on Wednesday shut Kuwait's international airport. Iran's retaliatory strikes "should serve as a lesson" for the US, Al Jazeera cited the Revolutionary Guards.President Donald Trump said he was "a little bit perturbed" that Israel's fighting of Hezbollah in Lebanon was holding back peace talks with Iran, according to the Associated Press.Meanwhile, the House is preparing to vote on Wednesday on whether to halt the US military action against Iran as a handful of Republicans signaled they are ready to join Democrats to end the war, the Associated Press reported. House Speaker Mike Johnson shut down floor action two weeks ago when the war powers resolution was on the verge of approval, the news report said.Separately, US commercial crude oil stocks, excluding inventories in the Strategic Petroleum Reserve, fell 8.0 million barrels in the week ended May 29 after a 3.3-million-barrel decline in the previous week, versus the 3.1-million-barrel decrease expected in a survey compiled by Bloomberg.Brent crude futures marched 1.8% higher to $97.76, and West Texas Intermediate crude oil futures added 2.5% to $96.09.Most US Treasury yields rose amid an escalation of the conflict in the Middle East, abetting inflation concerns. The 10-year jumped four basis points to 4.50%, and the two-year advanced 3.1 basis points to 4.08%.In precious metals, gold futures slid 1.3% to $4,461.80, and silver futures fell 3.4% to $72.99, reflecting the challenge that the Federal Reserve faces in tackling supply-side price pressures.In economic news, ADP's monthly measure of private payrolls showed a 122,000 increase in May from a revised 105,000 expansion in the previous month, above expectations for an increase of 120,000 in a Bloomberg-compiled survey.The Institute for Supply Management's US services index rose to 54.5 in May from 53.6 in April, compared with expectations for 53.8 in a survey compiled by Bloomberg. The S&P Global US services index was revised downward to 50.7 in May from the 50.9 flash reading, compared with expectations for an upward revision to 51.0 in a Bloomberg-compiled survey.The Organization for Economic Co-operation and Development continues to expect US economic growth at 2% this year, though it raised the estimate for next year to 1.8% from 1.7%.In company news, Macy's (M) raised its full-year outlook as fiscal Q1 earnings increased year over year and beat analysts' expectations.

Dow JonesNasdaq CompositeS&P 500$M
Wall Street Snaps Record Rally Amid Re-Escalation in Middle East Conflict
US Markets

Wall Street Snaps Record Rally Amid Re-Escalation in Middle East Conflict

US equities snapped their record-setting rally on Wednesday as renewed hostilities in the Middle East lifted oil prices.The Nasdaq Composite fell 0.9% to 26,854 and the S&P 500 declined 0.7% to 7,553.7, closing lower following a nine-day advance. The Dow Jones Industrial Average lost 1.2% to 50,687.1. All indexes logged fresh record highs on Tuesday.Six of the 11 sectors ended in the red, led by technology, while energy paced the gainers.Several major tech names fell sharply, with IBM (IBM) down 7.2%, the steepest decline on the Dow. Salesforce (CRM) followed IBM on the index, shedding 5.1%. Nvidia (NVDA) declined 3.6%, among the worst performers on the Dow.ServiceNow (NOW) and Microsoft (MSFT) also logged declines.West Texas Intermediate crude oil was up 2.6% at $96.19 a barrel in Wednesday late-afternoon trade, while Brent rose 2.1% to $97.99."Crude oil is trading higher for a third consecutive session, with Brent pushing above $97 as market pessimism once again grows over the prospects of a US-Iran deal that could pave the way for a reopening of the Strait of Hormuz," Saxo Bank said in a report.Iran launched strikes targeting US bases in Kuwait and Bahrain, as well as a vessel near the Strait of Hormuz, CNN reported. On Tuesday, the US Central Command said it conducted self-defense strikes on Qeshm Island in response to attempted attacks by Iran across the Middle East.US President Donald Trump reportedly said in a podcast with the New York Post that Iran has agreed not to have nuclear weapons, but Tehran could still change its mind. Previously, Trump said that negotiations with Iran were continuing, despite Iranian state-affiliated outlet Tasnim reporting that the country had suspended talks with Washington."Oil is up again as only Trump appears to believe that a 'deal' to end the war is in the works," said Derek Holt, head of capital markets economics at Scotiabank.In economic news, the Organization for Economic Co-operation and Development lowered its global economic growth projection for 2026, cautioning that the fallout from the Middle East conflict may linger for some time even after its resolution.In the US, employment in the private sector increased more than expected in May, ADP (ADP) data showed."The breadth of gains was encouraging, with almost all sectors increasing payrolls during the month," Oxford Economics said in a note. "Coupled with weak labor supply growth, the strong gains in payrolls would reduce the upside risk to the unemployment rate."Data from the Bureau of Labor Statistics are expected to show Friday that the US economy added 85,000 nonfarm jobs last month, which would represent a fall from a 115,000 increase reported for April, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.3%.The US services sector saw continued expansion in May, with Institute for Supply Management data showing a faster growth rate sequentially, but S&P Global (SPGI) pointing to a deceleration. Both surveys indicated elevated cost pressures and signs of weakness in the labor market.Most Federal Reserve districts saw slight to moderate growth in economic activity since mid-April, while consumer spending remained mixed, the US central bank said in its latest Beige Book released Wednesday."Higher-income households remained resilient and less sensitive to price increase, while middle-income households were described as 'squeezing more life out of every dollar before deciding to spend it,' and low-income consumers showed greater financial strain," according to the latest document, prepared by the Kansas City Fed based on data collected by May 27.US Treasury yields were higher, with the 10-year rate last up 4.6 basis points at 4.49%, and the two-year rate rising 3.8 basis points to 4.09%.Gold was last down 1% at $4,476.40 per troy ounce, while silver fell 2.5% to $73.65 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADP$CRM$IBM$MSFT$NOW$NVDA$SPGI
Japan

US Equity Markets Lower After Middle East Situation Worsens

US equity indexes were lower on Wednesday after the situation in the Middle East worsened following attacks by the US and Iran and reports of no substantive progress in peace talks.* The US and Iran exchanged heavy fire on Tuesday evening after the US struck an empty oil tanker it said was attempting to breach its blockade, according to The Wall Street Journal. That set off a string of attacks by both sides, with Iran striking US bases in Kuwait and Bahrain, the WSJ reported.* No progress has been made in peace negotiations, Al Jazeera cited Iran's Foreign Minister Abbas Araghchi as saying, referring to the talks between Tehran and Washington.* ADP's monthly measure of private payrolls showed a 122,000 increase in May from a revised 105,000 expansion in the previous month, above expectations for an increase of 120,000 in a Bloomberg-compiled survey.* The Institute for Supply Management's US services index rose to 54.5 in May from 53.6 in April, compared with expectations for 53.8 in a survey compiled by Bloomberg.* July West Texas Intermediate crude oil rose $2.52 to settle at $96.32 per barrel, while August Brent crude, the global benchmark, was last seen up $2.03 at $98.03.* Sandisk (SNDK) shares were up about 6.7%, the top gainer on the Nasdaq, after Morgan Stanley raised its price target to $1,750 from $1,100 while keeping an outperform rating for the company.* Global Payments (GPN) shares were down nearly 8.3%, among the steepest decliners on the S&P 500, after Susquehanna adjusted its price target to $111 from $119 while maintaining its positive rating.

Dow JonesNasdaq CompositeS&P 500$GPN$SNDK
International

US Equity Indexes Drop as Peace Talks Stall Amid Strikes Between Washington, Tehran

US equity indexes fell while crude oil futures rose as fresh fighting in the Middle East derailed progress in peace talks between Washington and Iran.The Nasdaq Composite dropped 0.7% to 26,902.1 ahead of Wednesday's close. The Dow Jones Industrial Average fell 1% to 50,806.2, and the S&P 500 slid 0.5% to 7,569.9.No progress has been made in peace negotiations, Al Jazeera cited Iran's Foreign Minister Abbas Araghchi as saying, referring to the talks between Tehran and Washington. The contact with the United States has not been cut off, Araghchi reportedly said.The US and Iran exchanged heavy fire on Tuesday evening after the US struck an empty oil tanker it said was attempting to breach its blockade, according to The Wall Street Journal. That set off a string of attacks by both sides, with Iran striking US bases in Kuwait and Bahrain, the WSJ reported.Kuwait came under a barrage of ballistic missiles and drones on Wednesday that shut its international airport, killed one person, and injured dozens more, the WSJ said. Iran's Revolutionary Guard said retaliatory strikes "should serve as a lesson" for the US, according to a report from Al Jazeera.Brent crude futures marched 2.1% higher to $97.97, and West Texas Intermediate crude oil futures added 2.5% to $96.06.

Dow JonesNasdaq CompositeS&P 500
Equities Fall Intraday, Oil Jumps Amid Renewed Middle East Tensions
US Markets

Equities Fall Intraday, Oil Jumps Amid Renewed Middle East Tensions

US benchmark equity indexes were lower intraday, while oil prices rose amid renewed hostilities in the Middle East.The Nasdaq Composite was down 1% at 26,816.5 after midday Wednesday, while the Dow Jones Industrial Average fell 0.9% to 50,858.1. The S&P 500 shed 0.6% to 7,562.9. The indexes logged fresh closing highs in the previous session.Among sectors, technology and consumer discretionary saw the biggest decline intraday Wednesday, while energy paced the gainers.Several major tech names were falling sharply, with IBM (IBM) down 6.1%, the steepest decline on the Dow. Salesforce (CRM), Microsoft (MSFT), and Nvidia (NVDA) followed IBM on the index.West Texas Intermediate crude oil was up 2.6% at $96.17 a barrel, while Brent rose 2.1% to $98.04."Crude oil is trading higher for a third consecutive session, with Brent pushing above $97 as market pessimism once again grows over the prospects of a US-Iran deal that could pave the way for a reopening of the Strait of Hormuz," Saxo Bank said in a report.Iran launched strikes targeting US bases in Kuwait and Bahrain, as well as a vessel near the Strait of Hormuz, CNN reported. On Tuesday, the US Central Command said it conducted self-defense strikes on Qeshm Island in response to attempted attacks by Iran across the Middle East.A barrage of ballistic missiles and drones hit Kuwait Wednesday, shutting its international airport, killing one person and injuring dozens, The Wall Street Journal reported.US President Donald Trump reportedly said in a podcast with the New York Post that Iran has agreed not to have nuclear weapons, but Tehran could still change its mind. Previously, Trump said that negotiations with Iran were continuing, despite Iranian state-affiliated outlet Tasnim reporting that the country had suspended talks with Washington."For now, the risk premium continues to be partly offset by President Trump's repeated insistence that an interim agreement remains within reach," Saxo said.In economic news, the Organization for Economic Co-operation and Development lowered its global economic growth projection for 2026, cautioning that the fallout from the Middle East conflict may linger for some time even after its resolution.In the US, employment in the private sector increased more than expected in May, ADP (ADP) data showed."The breadth of gains was encouraging, with almost all sectors increasing payrolls during the month," Oxford Economics said in a note. "Coupled with weak labor supply growth, the strong gains in payrolls would reduce the upside risk to the unemployment rate."Data from the Bureau of Labor Statistics are expected to show Friday that the US economy added 85,000 nonfarm jobs last month, which would represent a fall from a 115,000 increase reported for April, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.3%.The US services sector saw continued expansion in May, with Institute for Supply Management data showing a faster growth rate sequentially, but S&P Global (SPGI) pointing to a deceleration. Both surveys indicated elevated cost pressures and signs of weakness in the labor market."The combination of resilient demand and intensifying cost pressures reinforces the risk of ongoing price pass-through, suggesting that the (Federal Reserve) is likely to remain patient on policy easing given limited progress on services disinflation and increasing the likelihood of rate hikes this year," TD Economics said in a note.US Treasury yields were higher intraday, with the 10-year rate up 3.8 basis points at 4.49%, and the two-year rate rising 3.3 basis points to 4.08%.In company news, Medtronic (MDT) reported better-than-expected fiscal fourth-quarter results, while the medical-device maker projected earnings and organic revenue growth for the current year. The company's shares were up 5.1%, among the best performers on the S&P 500.Broadcom (AVGO), CrowdStrike (CRWD), Veeva Systems (VEEV) and Five Below (FIVE) are expected to report after the closing bell Wednesday, along with others.Gold was down 1.2% at $4,465.10 per troy ounce, while silver fell 2.6% to $73.58 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADP$AVGO$CRM$CRWD$FIVE$IBM$MDT$MSFT$NVDA$SPGI$VEEV
International

US Equity Indexes Drop, Crude Oil Jumps Following Tehran's Retaliatory Missile Strikes on Kuwait, Bahrain

US equity indexes declined while crude oil futures jumped as fresh fighting in the Middle East undermined the likelihood of a peace deal between Washington and Iran, implying the Strait of Hormuz will remain shut for the foreseeable future.The Nasdaq Composite dropped 0.9% to 26,863.1 in Wednesday's midday trading. The Dow Jones Industrial Average declined 0.8% to 50,877.8, and the S&P 500 fell 0.5% to 7,569.3.The US and Iran exchanged heavy fire on Tuesday evening after the US struck an empty oil tanker it said was attempting to breach its blockade, according to The Wall Street Journal. That set off a string of attacks by both sides, with Iran striking US bases in Kuwait and Bahrain, the WSJ reported.Kuwait came under a barrage of ballistic missiles and drones on Wednesday that shut its international airport, killed one person, and injured dozens more, the WSJ said. Iran's Revolutionary Guard said retaliatory strikes "should serve as a lesson" for the US, according to a report from Al Jazeera.President Donald Trump, in an interview released Wednesday, confirmed an earlier report that he criticized Israeli Prime Minister Benjamin Netanyahu as "crazy" in a Monday phone call, saying he was "a little bit perturbed" that Israel's fighting of Hezbollah in Lebanon was holding back peace talks with Iran, according to the Associated Press.US commercial crude oil stocks, excluding inventories in the Strategic Petroleum Reserve, declined by 8.0 million barrels in the week ended May 29 after a 3.3-million-barrel decline in the previous week, a larger drop than the 3.1-million-barrel decrease expected in a survey compiled by Bloomberg.Brent crude futures marched 2.2% higher to $98.10, and West Texas Intermediate crude oil futures added 2.6% to $96.21.Most US Treasury yields rose amid an escalation of the conflict in the Middle East, abetting inflation concerns. The 10-year jumped four basis points to 4.5%, and the two-year advanced 3.5 basis points to 4.09%.In precious metals, gold futures dropped 1.1% to $4,472.9, and silver futures slumped 2.3% to $73.82, reflecting the challenge the Federal Reserve would face in tackling supply-side price pressures.In economic news, ADP's monthly measure of private payrolls showed a 122,000 increase in May from a revised 105,000 expansion in the previous month, above expectations for an increase of 120,000 in a Bloomberg-compiled survey.The Institute for Supply Management's US services index rose to 54.5 in May from 53.6 in April, compared with expectations for 53.8 in a survey compiled by Bloomberg. The S&P Global US services index was revised downward to 50.7 in May from the 50.9 flash reading, compared with expectations for an upward revision to 51.0 in a Bloomberg-compiled survey.The Organization for Economic Co-operation and Development lowered its global economic growth projection to 2.8% for 2026, down from 2.9% in March, cautioning that the fallout from the Middle East conflict may linger even after its resolution. The OECD, however, continues to expect US economic growth at 2% this year, though it raised the estimate for next year to 1.8% from 1.7%.In company news, Macy's (M) raised its full-year outlook as fiscal Q1 earnings unexpectedly increased year over year.

Dow JonesNasdaq CompositeS&P 500$M
Asia Markets

Exchange-Traded Funds Lower as US Equities Fall After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) eased 0.5%.US equity indexes declined while crude oil futures jumped as Iran struck Gulf nations Kuwait and Bahrain with missiles amid faltering diplomacy with Washington.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 2.2%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was 1.3% lower; iShares US Technology ETF (IYW) lost 1.1%, and iShares Expanded Tech Sector ETF (IGM) was down 1%.The State Street SPDR S&P Semiconductor (XSD) climbed up 1%, and iShares Semiconductor (SOXX) rose 1.3%.FinancialThe State Street Financial Select Sector SPDR (XLF) fell 1.2%. Direxion Daily Financial Bull 3X Shares (FAS) declined 3.7%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), climbed up 3.6%.CommoditiesCrude oil rose 2.3%, and the United States Oil Fund (USO) added 2.3%. Natural gas gained 1.9%, and the United States Natural Gas Fund (UNG) was up 2%.Gold on Comex fell 1.2%, and the State Street SPDR Gold Shares (GLD) was down 1.1%. Silver slipped 2.7%, and iShares Silver Trust (SLV) lost 2.5%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 0.9%. The Vanguard Consumer Staples ETF (VDC) added 1%, and iShares Dow Jones US Consumer Goods (IYK) gained 1%.The State Street Consumer Discretionary Select Sector SPDR (XLY) shed 1.1%. VanEck Retail ETF (RTH) eased 0.1%, and the State Street SPDR S&P Retail (XRT) fell 1.1%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 1%, iShares US Healthcare (IYH) added 1%, and Vanguard Health Care ETF (VHT) was up 1%. IShares Biotechnology ETF (IBB) advanced 1.3%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) gained 0.3%. Vanguard Industrials Index Fund (VIS) eased fractionally, while iShares US Industrials (IYJ) dipped 0.3%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 2.1%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 2.1%, ProShares Ether ETF (EETH) shed 4.5%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 2.4% 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 Retreat, Crude Oil Advances Amid Escalation in Iran War

US equity indexes declined while crude oil futures jumped as Iran struck Gulf nations Kuwait and Bahrain with missiles amid faltering diplomacy with Washington.The Nasdaq Composite fell 1% to 26,810.6 in midday trading Wednesday, with the S&P 500 down 0.7% to 7,559.4, and the Dow Jones Industrial Average lower by 0.8% to 50,884.2.Kuwait came under a barrage of ballistic missiles and drones on Wednesday that shut its international airport, killed one person, and injured dozens more, as Iran launched its largest salvo of the near two-month ceasefire, The Wall Street Journal reported.The US struck the evening before an empty oil tanker it said was attempting to breach its blockade, setting off a string of attacks by both sides, with Iran firing ballistic missiles at US bases in Kuwait and Bahrain, according to the news report.Brent crude futures marched 2% higher to $97.94, and West Texas Intermediate crude oil futures increased 2.3% to $95.91.Most US Treasury yields rose, with the 10-year up 4.2 basis points to 4.5%. The two-year advanced 3.5 basis points to 4.09%.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Wednesday Amid Fresh Economic Signals

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.2% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.5% in Wednesday's premarket activity, as markets traded mixed amid caution about fresh employment and inflation indicators.US stock futures were mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures slipping 0.3%, and Nasdaq futures gaining 0.2% before the start of regular trading.US mortgage applications fell 2.5% in the week ended May 29, extending the prior week's decline despite lower 30-year mortgage rates, Mortgage Bankers Association data showed Wednesday.US private-sector employment increased by 122,000 jobs in May, slightly exceeding expectations, with hiring led by education and health services, trade, transportation and utilities, and construction, ADP data showed Wednesday.The May purchasing managers' index composite final report from S&P Global will be released at 9:45 am ET, followed by the Institute for Supply Management's services survey for May at 10:00 am ET.Factory orders data for April are scheduled to be released at 10:00 am ET, followed by the weekly oil stocks data at 10:30 am ET.Federal Reserve Governor Michael Barr and Dallas Fed President Lorie Logan are due to speak on Wednesday.In premarket action, bitcoin was down by 0.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% lower, Ether ETF (EETH) retreated by 1.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 0.01%.Power Play:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.1% higher.Blackstone (BX) shares were down more than 5% pre-bell after Bloomberg reported the company is mulling the sale of payments services provider, SP.LINKS, looking to fetch about 100 billion Japanese yen ($626 million) from the transaction.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.01% lower.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 0.4%, and the iShares US Technology ETF (IYW) was 0.4% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 1.5%, while the iShares Semiconductor ETF (SOXX) rose by 2%.Sprinklr (CXM) shares were down more than 5% in premarket activity after the company reported lower fiscal Q1 non-GAAP earnings.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) declined by 0.5%, while the Vanguard Industrials Index Fund (VIS) was down 0.7% and the iShares US Industrials ETF (IYJ) was inactive.T1 Energy (TE) stock was up 3% before the opening bell after the company said it had agreed to acquire Kore Power in a deal valued at $32 million in equity, cash, and assumed debt.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.02% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was down 0.4%. The iShares US Consumer Staples ETF (IYK) was flat. 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) decreased by 0.8%.Ferrari (RACE) shares were down 1% pre-bell after closing the prior day with a 1.3% rise. The vehicle maker said Wednesday it has signed a multi-year contract extension with Charles Leclerc.EnergyThe iShares US Energy ETF (IYE) was up 0.7%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.6%.BP (BP) stock was up more than 1% before market open, following a 1% gain in the previous session. The Financial Times reported Tuesday that the company held advanced talks to sell its UK North Sea assets to Ithaca Energy in a nearly 2 billion British pounds ($2.7 billion) deal, though negotiations failed in recent weeks, with the oil major still exploring a sale to other potential buyers.CommoditiesFront-month US West Texas Intermediate crude oil gained by 2.2% to $95.82 per barrel on the New York Mercantile Exchange. Natural gas was up 0.3% to $3.18 per 1 million British Thermal Units. The United States Oil Fund (USO) rose by 2.7%, while the United States Natural Gas Fund (UNG) was 0.4% higher.Gold futures for July retreated by 0.7% to $4,488.90 an ounce on the Comex. Silver futures declined by 1.2% to $74.66 an ounce. SPDR Gold Shares (GLD) was down by 0.5%, and the iShares Silver Trust (SLV) decreased by 1%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BP$BX$CXM$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QQQ$RACE$RTH$SLV$SOXX$SPY$TE$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD$ZBIO
International

US Equity Futures Mixed Pre-Bell as US, Iran Continue Military Strikes in Middle East

US equity futures were mixed pre-bell Wednesday as the US and Iran exchanged military strikes in the Middle East and progress on peace talks remained uncertain.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% higher.The US Central Command reported Tuesday the defeat of several Iranian ballistic missiles and drones launched at Kuwait and Bahrain. The military command said it also conducted "self-defense strikes" on Iranian forces on Qeshm Island in the Strait of Hormuz.President Donald Trump said Iran has agreed to not have nuclear weapons, according to a CNBC report citing the New York Post's "Pod Force One" podcast. "I mean, now they can change their mind, but that was one of the things they've had to agree, they've agreed to that. That was the big thing," he said.Traders digested the latest round of earnings, with Palo Alto Networks (PANW) posting higher fiscal Q3 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.5% at $98.38 per barrel and US West Texas Intermediate crude 2.8% higher at $96.39 per barrel.ADP's national employment report showed that private sector employment increased by 122,000 in May, compared with expectations for a 120,000 gain in a survey compiled by Bloomberg.The S&P Global composite purchasing managers' index final report for May, due at 9:45 am ET, is seen to be unchanged at 51.7. April factory orders, due at 10 am ET, are expected to have gained 4.6%, compared with 1.5% previously.Federal Reserve Governor Michael Barr and Dallas Fed President Lorie Logan are slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 2.5% higher, Hong Kong's Hang Seng ended 1.6% lower, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 1% lower in Europe's early afternoon session.In equities, Palo Alto Networks stock was down 3.8% after reporting its fiscal Q3 financial results. Palantir Technologies (PLTR) shares fell 1% after a UK parliamentary committee said that the company's expanding role across the UK public sector represents an "unacceptable point of weakness." Novartis (NVS) stock was down 1% after Celcuity (CELC) reported that detailed results from a phase 3 trial showed its investigational breast cancer treatment gedatolisib outperformed Novartis' alpelisib plus fulvestrant in patients with hormone receptor-positive, HER2-negative, PIK3CA-mutated advanced breast cancer.On the winning side, Sherwin-Williams (SHW) shares were up 3.6% after the company and Nippon Paint Group said they had abandoned their joint attempt to buy AkzoNobel. BP (BP) stock was up 1.3% after the Financial Times reported that the company held advanced talks to sell its UK North Sea oil and gas assets to Ithaca Energy in a deal potentially worth close to 2 billion British pounds ($2.7 billion).

Dow JonesNasdaq CompositeS&P 500$BP$CELC$NVS$PANW$PLTR$SHW
Japan

US Equity Futures Mixed Pre-Bell as US, Iran Continue Military Strikes in Middle East

US equity futures were mixed pre-bell Wednesday as the US and Iran continued to exchange attacks in the Middle East, while progress on peace talks remained murky.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.2% higher.US Central Command reported the defeat of several Iranian ballistic missiles and drones launched at Kuwait and Bahrain. The military command said it also conducted "self-defense strikes" on Iranian forces on Qeshm Island in the Strait of Hormuz.President Donald Trump said that Iran has "already agreed" not to have nuclear weapons, according to a CNBC report that cited the New York Post's "Pod Force One" podcast. "I mean, now they can change their mind, but that was one of the things they've had to agree, they've agreed to that. That was the big thing," he said.Traders digested the latest round of earnings, with Palo Alto Networks (PANW) posting higher fiscal Q3 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.1% at $97.97 per barrel and US West Texas Intermediate crude 2.1% higher at $95.73 per barrel.The ADP employment report for May, expected at 8:15 am ET, is seen showing an increase of 120,000 from 109,000 in the prior month, according to estimates compiled by Bloomberg.The S&P Global purchasing managers' index composite final report for May, due at 9:45 am ET, is seen reporting 51.7, unchanged from the prior value. April factory orders, due at 10 am ET, are expected to have gained 4.6%, compared with 1.5% previously.Federal Reserve Governor Michael Barr and Dallas Fed President Lorie Logan are slated to speak on Wednesday.

Dow JonesNasdaq CompositeS&P 500$PANW
Stocks Mostly Down Pre-Bell as Traders Assess Latest Middle East Developments
US Markets

Stocks Mostly Down Pre-Bell as Traders Assess Latest Middle East Developments

The main US stock measures were mostly trending lower in Wednesday's premarket activity as traders assess the latest developments in the Middle East.The S&P 500 edged down 0.1% and the Dow Jones Industrial Average declined 0.4%, while the Nasdaq gained 0.2% before the opening bell. All three indexes recorded new closing highs on Tuesday.President Donald Trump said in a podcast interview that Iran has agreed not to have nuclear weapons, several media outlets reported Wednesday. In a social media post on Tuesday, Trump said negotiations between the US and Iran were "going on continuously."Earlier in the week, Iranian state-affiliated outlet Tasnim reported that the country suspended talks with the US in retaliation to Israel's military action in Lebanon.The US Central Command said Tuesday that its forces "successfully defeated" multiple Iranian ballistic missiles and drones and launched defensive strikes following "attempted attacks" by Tehran across the Middle East.Iran reportedly launched a wave of missile and drone attacks toward Kuwait and Bahrain in a major escalation of regional tensions. Kuwait said a number of "hostile drones" targeted its airport, causing significant material damage and injuring several people.West Texas Intermediate crude oil increased 2.6% to $96.17 a barrel in premarket action, while Brent advanced 2.5% to $98.42."Crude oil continues to trade from one headline to the next, making it increasingly difficult for traders to maintain conviction beyond a few hours," Saxo Bank said in a Tuesday report. "Global energy markets continue to tighten, with the main focus remaining on the Strait of Hormuz, a vital shipping artery that remains effectively shut, sustaining concerns about supply disruptions and elevated energy prices."Treasury yields were up before the open, with the two-year rate rising 2.9 basis points to 4.08% and the 10-year rate adding 3 basis points to 4.49%.The Organization for Economic Cooperation and Development on Wednesday cut its global growth outlook for 2026, warning that a prolonged war between the US and Iran could have "longer-lasting negative consequences."The ADP Employment report for May is out at 8:15 am ET. On Tuesday, official data showed that US job openings hit their highest level in almost two years in April, while hiring and layoffs fell.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am. The purchasing managers' index composite final report from S&P Global (SPGI) for May posts at 9:45 am, followed by the Institute for Supply Management's services index for the same month at 10 am.The weekly EIA domestic petroleum inventories report is due at 10:30 am. The Federal Reserve's Beige Book, a compilation of economic and business reports from the 12 regional Fed branches, is out at 2 pm.Fed Governor Michael Barr is scheduled to speak at 9 am, while Dallas Fed President Lorie Logan speaks at 4 pm.The Fed may need to raise interest rates should inflationary pressures persist, Cleveland Fed President Beth Hammack said Tuesday. "If we wait for definitive evidence that high inflation has become embedded in the economy, it may require larger policy adjustments, at greater cost," Hammack said in prepared remarks for an event in Ohio.Shares of Palo Alto Networks (PANW) declined 3.7% pre-bell following the company's latest quarterly results. Marvell Technology (MRVL) climbed 14% after Nvidia (NVDA) Chief Executive Jensen Huang reportedly said the company could be the next chip manufacturer to join the trillion-dollar club.Broadcom (AVGO), CrowdStrike (CRWD), Veeva Systems (VEEV) and Five Below (FIVE) are expected to release their latest earnings after the markets close. Medtronic (MDT), Macy's (M), Ollie's Bargain Outlet (OLLI) and Thor Industries (THO) post their financial results before the bell, among others.Gold slipped 0.7% to $4,488 per troy ounce, while bitcoin inched 0.3% higher to $67,127.

Dow JonesNasdaq CompositeS&P 500$AVGO$CRWD$FIVE$M$MDT$MRVL$OLLI$PANW$THO$VEEV
International

Rising Crude Prices Cap Wall Street Pre-Bell; Asia Up, Europe Off

Wall Street futures pointed mixed and muted pre-bell Wednesday, as crude prices ascended again following reports of renewed Iranian and US military strikes in the Persian Gulf.In the futures, the S&P 500 fell 0.1%, the Nasdaq inclined 0.1% and the Dow Jones was off 0.4%.West Texas Intermediate crude oil traded up 2.4% at $96.01 a barrel in morning hours.Asian exchanges traded mostly higher overnight, with fresh all-time highs struck in Taiwan and Tokyo on AI sector optimism. European bourses tracked moderately lower midday on the continent.Tech giants Broadcom (AVGO) and CrowdStrike (CRWD) plan to report earnings after-bell, among others.On the economic calendar is the ADP Employment Report for May at 8:15 am ET, followed by the S&P Global US final composite purchasing managers index for May at 9:45 am.The factory orders bulletin for April and the ISM Services Index for May log at 10 am.The weekly EIA petroleum status report posts at 10:30 am.The Beige Book, the Federal Reserve's compendium of business and economic reports from the 12 branches, is released at 2 pm.Federal Reserve Governor Michael Barr and Dallas Fed President Lorie Logan are slated to speak on Wednesday.In premarket action, Bitcoin traded at $67,186, and 10-year US Treasuries offered 4.49%. Spot gold commanded $4,460 an ounce.

Dow JonesNasdaq CompositeS&P 500$AVGO$CRWD
Wall Street Hits New Highs as Tech Gains
US Markets

Wall Street Hits New Highs as Tech Gains

Wall Street's equity benchmarks hit fresh all-time highs on Tuesday amid gains in the technology sector.The Dow Jones Industrial Average rose 0.5% to 51,307.8, while the S&P 500 edged up 0.1% to 7,609.8. The Nasdaq Composite eked out a small gain to settle just above the flatline at 27,093.9. All three indexes logged new closing highs.Most sectors ended in the green, led by utilities, while communication services saw the biggest decline. Tech gained 0.9%.Hewlett Packard Enterprise's (HPE) shares jumped nearly 20%, the top gainer on the S&P 500. Late Monday, the IT company lifted its full-year outlook and reported stronger-than-expected fiscal second-quarter results."The biggest takeaway from the quarter was that (Hewlett Packard) is benefiting from the same pricing dynamic that has recently driven upside at (Dell Technologies)," Morgan Stanley said in a note emailed to. "Customers are absorbing materially higher server prices with little evidence of demand destruction."Marvell Technology (MRVL) shares surged nearly 33% after Nvidia (NVDA) Chief Executive Jensen Huang reportedly said Marvell could be the next chip company to join the trillion-dollar club.IBM's (IBM) move to boost its quantum computing investment will likely take years before it starts yielding benefits, but the strategy is a "net positive" amid a rapidly evolving software landscape, Wedbush Securities said. IBM closed 2.8% higher.In economic news, US job openings hit their highest level in almost two years in April, while hiring and layoffs fell, official data showed."Job openings jumped to their highest level in nearly two years, but this likely overstates the strength of the labor market, as the increase didn't translate into a higher hiring rate," Oxford Economics said in a note. "The result should be taken with a grain of salt and doesn't suggest a sudden tightening of labor market conditions is ahead."Official data are expected to show Friday that the US economy added 95,000 nonfarm jobs in May, compared with a 115,000 increase reported for the previous month, according to a Bloomberg poll.West Texas Intermediate crude oil was up 1.6% at $93.62 a barrel in Tuesday late-afternoon trade, while Brent rose 1.1% to $95.99.Negotiations with Iran continue, US President Donald Trump said Tuesday.On Monday, Iranian state-affiliated outlet Tasnim reported that the country suspended talks with the US in retaliation to Israel's military action in Lebanon."Crude oil continues to trade from one headline to the next, making it increasingly difficult for traders to maintain conviction beyond a few hours," Saxo Bank said in a Tuesday report. "Beneath the headline-driven volatility, global energy markets continue to tighten, with the main focus remaining on the Strait of Hormuz, a vital shipping artery that remains effectively shut, sustaining concerns about supply disruptions and elevated energy prices."Switching to monetary policy, the Federal Reserve may need to raise interest rates should inflationary pressures persist, Cleveland Fed President Beth Hammack said Tuesday."I'm more concerned about the growing risks of persistently elevated inflation than the risks to full employment and also that monetary policy may not be sufficiently restrictive to bring inflation down to 2%," Hammack said in prepared remarks for an event in Ohio. "If we wait for definitive evidence that high inflation has become embedded in the economy, it may require larger policy adjustments, at greater cost."US Treasury yields were mixed, with the 10-year rate little changed at 4.46%, and the two-year rate rising two basis points to 4.06%.Gold was last up 0.3% at $4,517.70 per troy ounce, while silver rose 0.3% to $75.48 per ounce.

Dow JonesNasdaq CompositeS&P 500$HPE$MRVL$NVDA

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