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

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Japan

US Equity Futures Slightly Lower Pre-Bell as US, Iran Resume Hostilities in Middle East

US equity futures were edging slightly lower pre-bell Monday as the US and Iran resumed hostilities for the first time since late July, raising oil prices and dampening hopes for an early resolution of the conflict between the two nations.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.2% lower.US forces on Sunday struck two rocket launchers on Iran's Larak Island, US Central Command told MS Now. Iran responded by attacking US bases in Jordan, Iranian state media reported.President Donald Trump posted on Truth Social an AI-generated video clip that he said showed Iran's oil hub Kharg Island being "blown to smithereens".Expected to report financial results this week are Dell Technologies (DELL), Palo Alto Networks (PANW), Medtronic (MDT), Broadcom (AVGO), Snowflake (SNOW), and Hewlett Packard Enterprise (HPE).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.4% at $91.10 per barrel and US West Texas Intermediate crude 3.7% higher at $86.53 per barrel.The Dallas Fed manufacturing survey for August will be released at 10:30 am ET.

Dow JonesNasdaq CompositeS&P 500$AVGO$DELL$HPE$MDT$PANW$SNOW
Asia Markets

Oil Outlook Weighs on Wall Street Pre-Bell; Asia Mixed, Europe Off

Wall Street futures pointed modestly lower pre-bell Monday, as traders weighed fresh hostilities in the Persian Gulf, while a waning earnings season offered fewer catalysts.In the futures, the S&P 500 fell 0.2%, the Nasdaq declined 0.1% and the Dow Jones was off 0.2%.West Texas Intermediate crude oil traded up 3.4% at $86.24, in morning action.The VanEck Semiconductor fund (SMH) traded up 0.5% pre-bell.Looking ahead, investors are awaiting the Job Openings and Labor Turnover Survey (JOLTS) release for July on Tuesday, and then the August national jobs report on Friday, for insights into the domestic labor market.Blue chips reporting earnings later this week include Broadcom (AVGO), Palo Alto Networks (PANW), Dell Technologies (DELL), Snowflake (SNOW), Medtronic (MDT), Hewlett Packard Enterprise (HPE), MongoDB (MDB), and Ciena (CIEN).Asian exchanges traded unevenly overnight, while European bourses tracked moderately lower midday on the continent.PG&E (PCG) shares fell 16.6% pre-bell on concerns regarding the utility's unresolved wildfire risk exposure.On the economic calendar is the Federal Reserve Dallas manufacturing survey at 10:30 am ET.In pre-market action, bitcoin traded at $78,369 and 10-year US Treasuries offered 4.72%. Spot gold commanded $4,450 an ounce.

Dow JonesNasdaq CompositeS&P 500$PCG
Asia Markets

US Equity Investors to Focus on Corporate Earnings, Labor Market Health, Renewed Hostilities Against Iran This Week

US equity investors are expected to watch Q2 earnings, with a particular focus on cybersecurity and tech mega-cap names, the state of the labor market, and a resumption of strikes between Washington and Iran this week.* Broadcom (AVGO), Snowflake (SNOW), Hewlett Packard Enterprise (HPE), NetApp (NTAP), Five Below (FIVE) and Zscaler (ZS) are expected to report quarterly earnings this week.* Macroeconomic data due this week include nonfarm payrolls, JOLTS job openings, ADP employment change, Challenger job cuts, jobless claims, ISM manufacturing and services, factory orders, and balance of trade.* Payrolls are estimated to rise by "just" 30,000 after falling by 23,000 in July, according to a Scotiabank note late Friday. Revisions may be smaller than the 103,000 contraction in May and June because the initial sampling rate for payrolls improved in July. The unemployment rate is forecast to tick up to 4.2%.* Federal Reserve Chair Warsh's Jackson Hole speech spooked bond markets on Friday, the Scotiabank note said. Part of his mission may have been to maintain downward pressure on yields as the 10-year Treasury has stalled out in the 4.6% to 4.7% range over recent weeks. "Part of his message, however, was that he wants much more evidence on disinflationary pressures and sees nothing wrong with the labour market."* Iran and the US traded attacks for the first time in over a month overnight into Monday, CNN reported. Iran said it has attacked US bases in Jordan and US military targets at the Al Minhad airbase in the United Arab Emirates after US forces bombed two rocket launchers on Iran's Larak Island, according to a report from Al Jazeera, a Middle Eastern broadcaster.* The US military struck the two launchers that a US official said were attempting to deploy mines into the Strait of Hormuz, Reuters reported. The United Arab Emirates condemned the Iranian drone attack on Monday as a "dangerous escalation" and a flagrant violation of its sovereignty, the news report said.

Dow JonesNasdaq CompositeS&P 500$AVGO$FIVE$HPE$NTAP$SNOW$ZS
Equities

S&P 500 Posts Slight Weekly Gain as Tech Earnings Top Expectations

The Standard & Poor's 500 index edged up 0.5% this week amid stronger-than-expected quarterly reports from tech companies including Salesforce (CRM) and CrowdStrike (CRWD).The S&P 500 ended the week at 7,711.76. With just one session remaining in the month, the market benchmark is up 3% for August and has climbed 13% this year.At the annual Jackson Hole Economic Policy Symposium, Federal Reserve Chairman Kevin Warsh reaffirmed his commitment to the Fed's mandates, including the 2% inflation goal. Warsh said inflation numbers were concerning, citing the Fed's preferred metric -- the personal consumption expenditure price index -- which was unchanged at 3.7% year over year in July.Data released earlier this week showed US economic growth, measured by gross domestic product, rose by 1.5% in Q2. This was unrevised from the advance estimate released last month and matched expectations in a survey compiled by Bloomberg.The University of Michigan consumer sentiment index was revised upward on Friday to 51.7 for August from 51.0 in the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg. The latest reading was still below July's final print of 55.2.The technology sector had the largest percentage increase this week, climbing 1.8%, followed by a 1.6% advance in communication services and a 1.1% rise in financials. Consumer discretionary eked out a 0.1% gain.Salesforce was the best performer in both the technology sector and the overall S&P 500 this week, jumping 22%. The company reported fiscal Q2 adjusted earnings and revenue above analysts' mean estimates and boosted its fiscal 2027 guidance.CrowdStrike had the second-largest percentage gain in technology and the overall S&P 500, climbing 14%. The company reported better-than-expected fiscal second-quarter results. CrowdStrike also raised its guidance for full-year net new annual recurring revenue, or ARR, amid increasing demand for cybersecurity solutions to address artificial intelligence risks.The health care and energy sectors fell 2% each, followed by a 1.7% decline in industrials and a 1.3% slip in real estate. Consumer staples, materials and utilities also edged lower.Boston Scientific (BSX) had the largest percentage loss in health care for the week, shedding 7%. The company is recalling thousands of its percutaneous catheters due to possible arterial sheath tip separation that could lead to complications with a retained tip, the US Food and Drug Administration said.The decline in energy came as crude oil futures also fell on the week. Mediators in the Iran war are stepping up efforts to get the Strait of Hormuz reopened, Reuters reported. Top decliners in the sector included EOG Resources (EOG), which fell 6.3% amid an investment rating downgrade by Capital One to equal weight from overweight.Earnings reports next week are expected from companies including Palo Alto Networks (PANW), Dell Technologies (DELL), Medtronic (MDT), Broadcom (AVGO) and Snowflake (SNOW).Investors will be heavily focused on the government's August employment report, due Friday. Other reports will include July construction spending and factory orders.

Dow JonesNasdaq CompositeS&P 500$BSX$CRM$CRWD$EOG
Update: Equities Fall as Warsh's Remarks Boost Rate-Hike Bets
US Markets

Update: Equities Fall as Warsh's Remarks Boost Rate-Hike Bets

(Updates with market moves at the end of the day, and other changes, if any.)US stocks fell Friday, though they still locked in weekly gains, as bets for a September interest rate hike increased after Federal Reserve Chair Kevin Warsh expressed worries about inflation.The Nasdaq Composite declined 0.5% to close at 26,402.42, while the S&P 500 dipped 0.3% to 7,711.76. The Dow Jones Industrial Average ended just below the flatline at 53,559.99. Among sectors, technology led the laggards, while consumer discretionary saw the biggest gain.Despite Friday's declines, all three indexes logged weekly gains, with the Nasdaq up 0.9%. The Dow and the S&P 500 advanced 0.5% each.In his debut Jackson Hole speech as Fed chief, Warsh said Friday that inflation numbers were concerning, citing the Fed's preferred metric -- the personal consumption expenditure price index -- which was unchanged at 3.7% year over year in July."The comparable measures from the consumer price index are also elevated, as are the core measures of both PCE and CPI inflation," Warsh said. "None of these measures are perfect, but they all tell a similar story: Inflation is running above our 2% target. So the Fed's predominant focus right now should be on prices."The odds of a quarter-point rate hike next month rose to about 58% on Friday from 35% the day before, according to the CME FedWatch tool. The probability that the Federal Open Market Committee will keep the benchmark rate steady fell to about 43% from 65%.US Treasury yields jumped, with the two-year yield up 12.6 basis points at 4.36% and the 10-year yield rising 5.6 basis points to 4.73%."Warsh came out blazing with a mostly hawkish message and interpretation of the recent data. In essence, he said that the 2% target on PCE prices was firm and there was work to be done to get there, since policy is not restrictive," BMO Chief Economist Douglas Porter said in a report. "The net result of Warsh's stern remarks was that the market is now back to pricing in roughly 50-50 odds of a hike at the mid-September FOMC meeting."US consumer sentiment dropped in August amid concerns that inflation will continue to be high for the "foreseeable future," final results of a University of Michigan survey showed Friday.In company news, Paypal (PYPL) shares slumped nearly 13%, the worst performer on the S&P 500, after Bloomberg News reported that buyout firm Advent and payment-processor Stripe have ditched their bid to buy the company.Marvell Technology (MRVL) followed Paypal on the index, down 10%, despite reporting stronger-than-expected second-quarter results late Thursday.Marvell's (MRVL) fiscal third-quarter gross margin outlook came in a bit soft amid a higher custom product mix, B. Riley Securities said in a note e-mailed Friday.Workday (WDAY) was the top gainer on the S&P 500, up 5.8%. The finance and human resources solutions provider raised the low end of its full-year subscription revenue outlook after it recorded fiscal second-quarter results above Wall Street's estimates.West Texas Intermediate crude oil edged down 0.1% to $83.41 a barrel in Friday late-afternoon trade, while Brent dipped 0.4% to $89.31.Spot gold fell 3% to $4,459.42 per troy ounce, while silver lost 4.5% to $67.08 per ounce.

Dow JonesNasdaq CompositeS&P 500$MRVL$PYPL$WDAY
Japan

US Equity Markets End Lower After Govt Bond Yields Rise Following Fed Chair Warsh's Comments on Inflation

US equity indexes ended lower Friday after government bond yields rose following Federal Reserve Chairman Kevin Warsh's statement that inflation is the more concerning part of the central bank's dual mandate.* "The Fed's price-stability objective of 2%, as measured by the personal consumption expenditures price index, is a firm, fixed target," Warsh said, speaking at the annual Jackson Hole Economic Policy Symposium.* Mediators in the Iran war are stepping up efforts to get the Strait of Hormuz reopened, with Tehran agreeing to draw up a list of conditions to restore normal traffic after the Qatari prime minister asked the Iranians to respect freedom of navigation, Reuters reported.* The University of Michigan consumer sentiment index was revised upward on Friday to 51.7 for August from 51.0 in the preliminary estimate, compared with expectations of no revision in a survey compiled by Bloomberg.* October West Texas Intermediate crude oil fell $0.15 to settle at $83.38 per barrel, while October Brent crude, the global benchmark, was last seen down $0.33 at $89.37.* Workday (WDAY) shares were up about 5.8%, the top gainer on the S&P 500, after it raised the low end of its full-year subscription revenue outlook following fiscal Q2 results above Wall Street's estimates.* Paypal (PYPL) shares were down roughly 13%, the worst performer on the S&P 500, after Bloomberg News reported that Advent and Stripe have backed out of their bid to buy the company.

Dow JonesNasdaq CompositeS&P 500$PYPL$WDAY
Japan

Update: US Equity Indexes Slide, Treasury Yields Surge After Fed Chair Warsh Offers Little Monetary Policy Guidance

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes declined while government bond yields jumped after Federal Reserve Chairman Kevin Warsh stressed his focus on the 2% inflation target while offering little guidance on the monetary policy path ahead, as expected.The Nasdaq Composite fell 0.5% to 26,402.4, and the S&P 500 slipped 0.3% to 7,711.7 on Friday. The Dow Jones Industrial Average was down less than 0.1% to 53,559.99.Speaking at the annual Jackson Hole Economic Policy Symposium, Warsh, as expected, did not offer any change to the monetary policy outlook but strongly reaffirmed his commitment to the Fed's mandates while offering little guidance on the timing of rate changes."The Fed's price-stability objective of 2%, as measured by the personal consumption expenditures price index, is a firm, fixed target," Warsh said. "Let's be equally clear about another aspect of the objective: Price stability is not self-executing, nor is inflation necessarily mean-reverting. It is the Fed's job to deliver stable prices."US Treasury yields rose. The 10-year yield climbed 5.4 basis points to 4.73%, and the two-year soared 12 basis points to 4.35%.Mediators in the Iran war are stepping up efforts to get the Strait of Hormuz reopened, with Tehran agreeing to draw up a list of conditions to restore normal traffic after a Qatari emissary pressed the Iranians to respect freedom of navigation, Reuters reported.With the US having disengaged from talks in favour of an economic pressure campaign, the prime minister of Qatar, a US ally, met senior Iranian leaders in Tehran on Thursday, stressing the importance of returning to the pre-war status of open shipping through an international waterway, the news report said.The front-month US West Texas Intermediate crude oil contract slipped 0.1% to $83.44 per barrel, and global benchmark North Sea Brent edged down 0.4% to $89.31 per barrel.In economic news, the University of Michigan consumer sentiment index was revised upward on Friday to 51.7 for August from 51.0 in the preliminary estimate, compared with expectations of no revision in a survey compiled by Bloomberg. That was still below the final reading of 55.2 in July. Respondents expected a 4% inflation rate over the next year, down from 4.2% in July and 3.3% annual inflation over the next five years, the same as in July.

Dow JonesNasdaq CompositeS&P 500
Japan

Update: US Equity Indexes Fall, Treasury Yields Jump After Warsh Reiterates Inflation Commitment

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes fell, while government bond yields advanced after Federal Reserve Chairman Kevin Warsh said inflation is the more concerning part of the central bank's dual mandate, recommitting to the 2% inflation goal.The Nasdaq Composite fell 0.6% to 26,381.5, and the S&P 500 slipped 0.3% to 7,706.2 ahead of Friday's close. The Dow Jones Industrial Average declined 0.1% to 53,533.2.Speaking at the annual Jackson Hole Economic Policy Symposium, Warsh, as expected, did not offer any change to the monetary policy outlook but strongly reaffirmed his commitment to the Fed's mandates while offering little guidance on the timing of rate changes."The Fed's price-stability objective of 2%, as measured by the personal consumption expenditures price index, is a firm, fixed target," Warsh said. "Let's be equally clear about another aspect of the objective: Price stability is not self-executing, nor is inflation necessarily mean-reverting. It is the Fed's job to deliver stable prices."US Treasury yields rose after midday. The 10-year yield climbed 4.8basis points to 4.72%, and the two-year soared 11.3 basis points to 4.35%.Mediators in the Iran war are stepping up efforts to get the Strait of Hormuz reopened, with Tehran agreeing to draw up a list of conditions to restore normal traffic after a Qatari emissary pressed the Iranians to respect freedom of navigation, Reuters reported. With the US having disengaged from talks in favour of an economic pressure campaign, the prime minister of Qatar, a US ally, met senior Iranian leaders in Tehran on Thursday, stressing the importance of returning to the pre-war status of open shipping through an international waterway, the news report said.With the US having disengaged from talks in favour of an economic pressure campaign, the prime minister of Qatar, a US ally, met senior Iranian leaders in Tehran on Thursday, stressing the importance of returning to the pre-war status of open shipping through an international waterway, the news report said.The front-month US West Texas Intermediate crude oil contract slipped 0.4% to $83.16 per barrel, and global benchmark North Sea Brent edged down 0.4% to $89.37 per barrel.In economic news, the University of Michigan consumer sentiment index was revised upward on Friday to 51.7 for August from 51.0 in the preliminary estimate, compared with expectations of no revision in a survey compiled by Bloomberg. That was still below the final reading of 55.2 in July. Respondents expected a 4% inflation rate over the next year, down from 4.2% in July and 3.3% annual inflation over the next five years, the same as in July.

Dow JonesNasdaq CompositeS&P 500
Update: Equities Mostly Lower Intraday as Traders Weigh Warsh's Remarks
US Markets

Update: Equities Mostly Lower Intraday as Traders Weigh Warsh's Remarks

(Updates with latest market prices and developments.)US benchmark equity indexes were mostly lower intraday, while bond yields rose, as investors assessed Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole economic policy symposium.The Nasdaq Composite was down 0.4% at 26,438.2 after midday Friday, while the S&P 500 fell 0.2% to 7,716.9. The Dow Jones Industrial Average was little changed at 53,564.9. The indexes finished the previous trading session in the green, with the Nasdaq recording its biggest single-day percentage gain since Aug. 4.Among sectors, utilities led the laggards intraday Friday, while consumer discretionary and communication services saw the biggest gains.In his debut Jackson Hole speech as Fed chief, Warsh said Friday that inflation numbers were concerning, citing the Fed's preferred metric -- the personal consumption expenditure price index -- which was unchanged at 3.7% year over year in July."The comparable measures from the consumer price index are also elevated, as are the core measures of both PCE and CPI inflation," Warsh said. "None of these measures are perfect, but they all tell a similar story: Inflation is running above our 2% target. So the Fed's predominant focus right now should be on prices."The odds of a quarter-point rate hike next month rose to about 58% on Friday from 35% the day before, according to the CME FedWatch tool. The probability that the Federal Open Market Committee will keep the benchmark rate steady fell to 43% from 65%.US Treasury yields jumped intraday Friday, with the two-year yield up 10.9 basis points at 4.34% and the 10-year yield rising 5.4 basis points to 4.73%."With core inflation above target for more than five years and, in our view likely to stay elevated, markets responded (to Warsh's remarks) accordingly," Stifel said in a note e-mailed to. "For equities, we would anticipate a hawkish message continuing to tighten financial conditions as investors once again embrace the 'Don't Fight the Fed' playbook."US consumer sentiment dropped in August amid concerns that inflation will continue to be high for the "foreseeable future," final results of a University of Michigan survey showed Friday.In company news, Paypal (PYPL) shares were down 12% intraday, the worst performer on the S&P 500, after Bloomberg News reported that buyout firm Advent and payment-processor Stripe have ditched their bid to buy the company.Marvell Technology (MRVL) followed Paypal on the index, down 10%, despite reporting stronger-than-expected second-quarter results late Thursday.Workday (WDAY) was the top gainer on the S&P 500, up 6.1%. The finance and human resources solutions provider raised the low end of its full-year subscription revenue outlook after it recorded fiscal second-quarter results above Wall Street's estimates.West Texas Intermediate crude oil edged down 0.1% to $83.47 a barrel intraday Friday, while Brent dipped 0.4% to $89.39.Spot gold fell 2.7% to $4,476.72 per troy ounce, while silver lost 4.2% to $67.32 per ounce.

Dow JonesNasdaq CompositeS&P 500$MRVL$PYPL$WDAY
Asia Markets

Exchange-Traded Funds Fall, US Equities Mixed 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 traded mixed, while government bond yields advanced after Federal Reserve Chairman Kevin Warsh said inflation is the more concerning part of the central bank's dual mandate, recommitting to the 2% inflation goal.EnergyIShares US Energy ETF (IYE) added 0.3% and the State Street Energy Select Sector SPDR (XLE) rose 0.5%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) fell 1.1%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) also edged lower.The State Street SPDR S&P Semiconductor (XSD) was down 3.6%, while iShares Semiconductor (SOXX) shed 2.9%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) advanced 1.3%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 1.2%.CommoditiesCrude oil fell 0.1%, and the United States Oil Fund (USO) dipped 0.1%. Natural gas eased 1.3%, and the United States Natural Gas Fund (UNG) was down 0.9%.Gold on Comex slipped 3.1%, and the State Street SPDR Gold Shares (GLD) was down 2.8%. Silver fell 2.9%, and iShares Silver Trust (SLV) declined 3.5%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) added 0.2%. The Vanguard Consumer Staples ETF (VDC) gained 0.4%, while iShares Dow Jones US Consumer Goods (IYK) was up 0.4%.The State Street Consumer Discretionary Select Sector SPDR (XLY) added 0.8%. VanEck Retail ETF (RTH) was up 0.7%, and the State Street SPDR S&P Retail (XRT) rose 0.6%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) eased 0.4%. iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were also lower. IShares Biotechnology ETF (IBB) lost 2.5%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) fell 1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also in the red.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 2.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) shed 2.6%, ProShares Ether ETF (EETH) was down 2.2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) gained 1.7%.

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

Update: US Equity Indexes Trade Mixed, Treasury Yields Jump After Warsh Reiterates Inflation Commitment

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes traded mixed, while government bond yields advanced after Federal Reserve Chairman Kevin Warsh said inflation is the more concerning part of the central bank's dual mandate, recommitting to the 2% inflation goal.The Nasdaq Composite fell 0.4% to 26,444.1, and the S&P 500 slipped 0.1% to 7,722.2 after midday Friday. The Dow Jones Industrial Average rose less than 0.1% to 53,580.2.Speaking at the annual Jackson Hole Economic Policy Symposium, Warsh, as expected, did not offer any change to the monetary policy outlook but strongly reaffirmed his commitment to the Fed's mandates while offering little guidance on the timing of rate changes."The Fed's price-stability objective of 2%, as measured by the personal consumption expenditures price index, is a firm, fixed target," Warsh said. "Let's be equally clear about another aspect of the objective: Price stability is not self-executing, nor is inflation necessarily mean-reverting. It is the Fed's job to deliver stable prices."US Treasury yields rose after midday. The 10-year yield climbed five basis points to 4.72%, and the two-year soared 10.5 basis points to 4.34%.Meanwhile, mediators in the Iran war are stepping up efforts to get the Strait of Hormuz reopened, with Tehran agreeing to draw up a list of conditions to restore normal traffic after a Qatari emissary pressed the Iranians to respect freedom of navigation, Reuters reported.The front-month US West Texas Intermediate crude oil contract slipped 0.4% to $83.20 per barrel, and global benchmark North Sea Brent edged down 0.4% to $89.35 per barrel.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Update: US Equity Futures Mostly Flat Pre-Bell as Traders Await Fed Chair's Keynote Speech

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mostly flat pre-bell Friday as traders awaited a highly anticipated keynote speech from Federal Reserve Chair Kevin Warsh.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.2% lower.Warsh is slated to speak at 10 am ET at the central bank's annual symposium in Jackson Hole, Wyoming, and traders will be looking for signals on where interest rates could go next.President Donald Trump on Thursday told reporters that the US is not talking to Iran. The US has turned to elevated economic pressure to force a reopening of the Strait of Hormuz and threatened Iran's trading partners. Iran's foreign ministry, in a letter published on Telegram, urged other countries not to implement US sanctions against it, calling the measures illegal.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.9% at $87.72 per barrel and US West Texas Intermediate crude 1% lower at $82.67 per barrel.The Chicago purchasing managers index for August, due at 9:45 am ET, is seen coming in at 57.9, up from its prior value of 57.6, according to estimates compiled by Bloomberg.The final University of Michigan consumer sentiment report for August, scheduled at 10 am ET, is expected to show consumer sentiment index coming in at 51.0, unchanged from the prior period.In other world markets, Japan's Nikkei closed 0.4% higher, Hong Kong's Hang Seng ended 0.1% higher, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, Marvell Technology (MRVL) shares fell 7.7% after the company reported fiscal Q2 financial results late Thursday. PayPal (PYPL) stock was down more than 14% after Bloomberg reported that buyout firm Advent and payment-processor Stripe have abandoned their bid to buy the company. Autodesk (ADSK) shares were down 4.8% after the company issued lower-than-expected Q3 adjusted EPS guidance.On the winning side, Gap (GAP) stock rose over 17% after the company lifted its fiscal 2026 adjusted earnings guidance. Affirm (AFRM) shares were more than 13% higher after the company reported an increase in fiscal Q4 earnings and sales in addition to issuing an upbeat fiscal Q1 sales outlook.

Dow JonesNasdaq CompositeS&P 500$ADSK$AFRM$GAP$MRVL$PYPL
Commodities

Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Friday Ahead of Warsh Speech

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) was down 0.2% in Friday's premarket activity as markets traded mixed ahead of Fed Chair Kevin Warsh's speech.US stock futures were mixed, with S&P 500 Index futures down 0.03%, Dow Jones Industrial Average futures gaining 0.02%, and Nasdaq futures slipping 0.3% before the start of regular trading.The Chicago PMI for August will be released at 9:45 am ET.Fed Chair Warsh is scheduled to deliver a presentation at the central bank's annual Jackson Hole symposium in Wyoming at 10 am ET.The University of Michigan consumer sentiment report for August is due at 10 am ET.The weekly Baker Hughes domestic oil-and-gas rig count posts at 1 pm ET.In premarket activity, bitcoin was down by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% lower, Ether ETF (EETH) advanced 0.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was 3.3% higher.Power Play:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) was flat Direxion Daily Financial Bull 3X Shares (FAS) was down 0.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.1% higher.PayPal (PYPL) stock was down more than 14% after Bloomberg News reported that buyout firm Advent and payment-processor Stripe have abandoned their bid to buy the company.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.5%, the iShares US Technology ETF (IYW) was 0.1% lower, and the iShares Expanded Tech Sector ETF (IGM) was up 0.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 1.2%, while the iShares Semiconductor ETF (SOXX) declined by 0.9%.Marvell Technology (MRVL) shares were down 7% following the company's fiscal Q2 results.EnergyThe iShares US Energy ETF (IYE) was up 3%, while the State Street Energy Select Sector SPDR ETF (XLE) advanced 0.2%.BW LPG (BWLP) stock was down more than 4% before market open after the company reported lower Q2 revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.4%, and the iShares US Consumer Staples ETF (IYK) advanced 0.1%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) was 0.1% higher. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) increased 0.1%.Toyota Motors (TM) shares were up more than 1% pre-bell after Nikkei Asia reported late Thursday that the company is planning to build an electric Sports Utility Vehicle in China.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.03%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.1% lower.Eli Lilly (LLY) stock was up nearly 1% premarket after the company said that the US Food and Drug Administration approved Mounjaro to lower the risk of major adverse cardiovascular events in adults with type 2 diabetes who are at high risk for those events.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.4%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was inactive.Saia (SAIA) stock was up more than 1% before the opening bell after Deutsche Bank raised its price target to $370 from $340.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.9% to $82.81 per barrel on the New York Mercantile Exchange. Natural gas was down 2.4% at $2.85 per 1 million British Thermal Units. The United States Oil Fund (USO) fell 1%, while the United States Natural Gas Fund (UNG) was 2.2% lower.Gold futures for November were down by 0.4% at $4,647.30 an ounce on the Comex. Silver futures gained 1.5% to reach $71.29 an ounce. SPDR Gold Shares (GLD) decreased 0.1%, and the iShares Silver Trust (SLV) was 1.7% higher.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BWLP$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LLY$MRVL$PMR$PYPL$QQQ$RTH$SAIA$SLV$SOXX$SPY$TM$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Stocks Mostly Down Pre-Bell Ahead of Warsh's Jackson Hole Speech
US Markets

Stocks Mostly Down Pre-Bell Ahead of Warsh's Jackson Hole Speech

The benchmark US stock measures were mostly tracking in the red before the open Friday as traders await Federal Reserve Chair Kevin Warsh's keynote speech at the central bank's annual economic symposium at Jackson Hole, Wyoming.The S&P 500 edged down 0.1%, and the Nasdaq decreased 0.3% in premarket activity, while the Dow Jones Industrial Average nudged 0.1% higher. The indexes finished the previous trading session in the green, with the Nasdaq recording its biggest single-day percentage gain since Aug. 4.Warsh is scheduled to speak at the Fed's symposium in Wyoming at 10 am ET. Investors are expected to parse Warsh's comments to assess his view of the economy and outlook for interest rates.Markets are currently pricing in roughly a 66% probability that the Federal Open Market Committee will keep its benchmark lending rate at its September meeting, with the remaining odds favoring a 25-basis-point increase, according to the CME FedWatch tool.Treasury yields were trending upwards in premarket action, with the two-year rate rising 0.4 basis points to 4.24% and the 10-year rate adding 1.2 basis points to 4.68%.Kansas City Fed President Jeff Schmid and Cleveland Fed President Beth Hammack reportedly said Thursday that rates are not restraining the economy enough and argued for further hikes to reach the Fed's 2% inflation goal, according to Bloomberg News.Boston Fed President Susan Collins said that current policy is "mildly restrictive," while Chicago Fed President Austan Goolsbee said he is waiting for evidence that inflation shocks are not persistent, Bloomberg reported.Government data earlier in the week showed that US inflation accelerated sequentially in July, keeping the Fed's preferred gauge for price increases well above its 2% target, while consumer spending growth eased.West Texas Intermediate crude oil decreased 0.5% to $83.10 a barrel before the opening bell, while Brent dipped 0.1% to $89.62.The Trump administration has told mediators it isn't interested in returning to the terms of the memorandum of understanding reached with Iran in June, The Wall Street Journal reported Thursday, citing sources. President Donald Trump is willing to wait and see if his hardline economic measures against Tehran work, according to the report.The Treasury Department recently launched an economic campaign to cut off financial channels that support Iran.In a social media post, Iranian Foreign Minister Seyed Abbas Araghchi said he had "creative discussions" with Qatari Prime Minister Mohammed bin Abdulrahman bin Jassim bin Jaber Al Thani. Araghchi also noted that "putting diplomacy back on track" wasn't impossible but depends on the US building trust and upholding commitments.Shares of PayPal (PYPL) tanked 16% pre-bell after media reports said that buyout firm Advent and payment processor Stripe have dropped their efforts to buy the payments company. Marvell Technology (MRVL) fell 7.9% after reporting its latest quarterly results.Friday's economic calendar has the Chicago purchasing managers' index for August at 9:45 am, followed by the final University of Michigan consumer sentiment report for the same month at 10 am. The weekly Baker Hughes oil-and-gas rig count is out at 1 pm.Gold inched down 0.1% to $4,662 per troy ounce, while bitcoin shed 1.1% to $79,162.

Dow JonesNasdaq CompositeS&P 500
Japan

US Equity Futures Mostly Flat Pre-Bell as Traders Await Fed Chair's Keynote Speech

US equity futures were mostly flat pre-bell Friday as traders awaited a highly anticipated keynote speech from Federal Reserve Chair Kevin Warsh.Dow Jones Industrial Average and S&P 500 futures were flat, while Nasdaq futures were 0.2% lower.Warsh is slated to speak at 10 am ET at the central bank's annual symposium in Jackson Hole, Wyoming, and traders will be looking for signals on where interest rates could go next.President Donald Trump on Thursday told reporters that the US is not talking to Iran. The US has turned to elevated economic pressure to force a reopening of the Strait of Hormuz and threatened Iran's trading partners. Iran's foreign ministry, in a letter published on Telegram, urged other countries not to implement US sanctions against it, calling the measures illegal.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.4% at $88.19 per barrel and US West Texas Intermediate crude 0.5% lower at $83.13 per barrel.The Chicago purchasing managers index for August, due at 9:45 am ET, is seen coming in at 57.9, up from its prior value of 57.6, according to estimates compiled by Bloomberg.The final University of Michigan consumer sentiment report for August, scheduled at 10 am ET, is expected to show consumer sentiment index coming in at 51.0, unchanged from the prior period.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Fed Outlook Caps Wall Street Pre-Bell; Asia, Europe Up

Wall Street futures pointed modestly lower pre-bell Friday as traders paused ahead of Federal Reserve Chairman Kevin Warsh's 10 am ET presentation, scheduled at the central bank's annual symposium in Wyoming.In the futures, the S&P 500 fell 0.1%, the Nasdaq declined 0.3%, and the Dow Jones was steady.West Texas Intermediate crude oil traded down 0.4% to $83.24.Asian exchanges traded unevenly higher overnight, while European bourses tracked moderately north at midday on the continent.PayPal (PYPL) traded down 14.7% pre-bell after media reports that a takeover bid for the digital payment platform from Advent and Stripe had fizzled.On the economic calendar is the Chicago PMI for August at 9:45, followed by the University of Michigan consumer sentiment report for August at 10 am.The weekly Baker Hughes domestic oil-and-gas rig count posts at 1 pm.In pre-market action, Bitcoin traded at $79,346, and 10-year US Treasuries offered 4.69%. Spot gold commanded $4,605 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Update: US Equity Indexes Rise as Nvidia's Blockbuster Guidance Helps Technology Offset Declines in Remaining Sectors

(Updates with index/price moves, macroeconomic data and analyst comments from the first paragraph.)US equity indexes advanced after Nvidia's (NVDA) strong fiscal Q2 results boosted mega-caps in the technology sector, helping outweigh declines in every other peer group.The Nasdaq Composite jumped 1.6% to 26,541.35, the S&P 500 climbed 0.7% to 7,730.99, and the Dow Jones Industrial Average edged up 0.2% to 53,569.44 on Thursday. All sectors, except technology, declined. Consumer staples, healthcare and consumer discretionary were among the worst performers.Shares of Nvidia jumped 8.7%, among the top gainers across all three mainstream indexes, after fiscal Q2 earnings and revenue more than doubled from a year earlier and its Q3 sales outlook beat estimates. Nvidia offered a surprisingly strong fiscal 2028 revenue outlook, while its gross margin guidance provided clarity amid rising memory costs, Morgan Stanley said in a note.Salesforce (CRM) surged 23%, the lead on the S&P 500 and the Dow, after the company posted higher fiscal Q2 adjusted earnings and sales, and lifted fiscal 2027 guidance.CrowdStrike (CRWD) soared 20%, one of the biggest gainers in the S&P 500 and Nasdaq, after the company reported higher fiscal Q2 adjusted earnings and revenue, and raised its full-year net new annual recurring revenue outlook. This is a "blowout quarter as AI demand inflects across the platform," according to a Truist Securities note.Among companies with market capitalizations exceeding $200 billion each, nine of the top 10 names by daily returns were in the technology sector, with Salesforce leading the pack, according to data compiled by Finviz.Qatar's foreign ministry said Iran and Doha discussed an agreement to implement a "joint project" to clear mines from the Strait of Hormuz as well as "efforts to reduce escalation and create appropriate conditions for dialogue," according to a report from Al Jazeera, a Middle Eastern broadcaster.Iran's security chief, Mohsen Rezaei, said the "US must first take practical steps to fulfil Iran's conditions, and then Iran will proceed to open the Strait of Hormuz", according to Al Jazeera, which cited a report from the Islamic Republic News Agency. The former Islamic Revolutionary Guard Corps commander reiterated previous pledges by Tehran that if Washington "starts any evil", Iran would "bring disaster to its military and economic interests".The front-month US West Texas Intermediate crude oil contract climbed 1.7% to $83.66 per barrel, and global benchmark North Sea Brent jumped 2.2% to $89.77 per barrel.In economic news, the advance international trade in goods deficit widened to $118.81 billion in July from $101.41 billion in June, according to data released by the US Census Bureau, surpassing the $100.5 billion deficit expected in a survey compiled by Bloomberg.US initial jobless claims fell to 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 in the previous week, versus expectations for an increase to 208,000 in a survey of analysts compiled by Bloomberg.Most US Treasury yields edged up on Thursday. The 10-year yield inched up by less than one basis point to 4.67%, and the two-year was little changed at 4.23%.

Dow JonesNasdaq CompositeS&P 500$CRM$CRWD$NVDA
Update: Nasdaq Logs Best Day in More Than 3 Weeks as Nvidia Gains
US Markets

Update: Nasdaq Logs Best Day in More Than 3 Weeks as Nvidia Gains

(Updates with market moves at the end of the day, and other changes, if any.)The Nasdaq Composite rose the most in more than three weeks on Thursday as post-earnings rallies in shares of Nvidia (NVDA) and other technology players helped lift sentiment on Wall Street.The tech-heavy index closed 1.6% higher at 26,541.35, logging its biggest single-day percentage gain since Aug. 4. The S&P 500 climbed 0.7% to 7,730.99, while the Dow Jones Industrial Average advanced 0.2% to 53,569.44.Tech was the only sector that ended in the green, up 3.4%, while consumer staples saw the steepest decline.Nvidia shares jumped 8.7%, the second-biggest gain on the Dow, as the tech bellwether's fiscal second-quarter results more than doubled from a year earlier and topped Wall Street's expectations late Wednesday amid record data center sales.Nvidia expects fiscal 2028 revenue to grow about 70% year over year. That, according to Morgan Stanley, was a surprisingly strong sales outlook.Salesforce (CRM) shares soared nearly 23%, the best performer on both the S&P 500 and the Dow. The customer relationship management platform late Wednesday increased its full-year revenue guidance after delivering a fiscal second-quarter beat.CrowdStrike (CRWD) surged nearly 21%, the second-biggest rise on the S&P 500. The company late Wednesday raised its full-year annual recurring revenue outlook amid increasing demand for cybersecurity solutions. CrowdStrike reported better-than-expected fiscal second-quarter results.Hormel Foods (HRL) was the worst performer on the S&P 500, down 10%. The company lowered its fiscal 2026 sales outlook as it reported mixed third-quarter results, with the top-line pressured amid a challenging consumer environment.US Treasury yields were little changed, with the two- and 10-year yields at 4.23% and 4.67%, respectively.The annual economic policy symposium at Jackson Hole, Wyoming, kicked off Thursday, with Federal Reserve Chair Kevin Warsh slated to speak Friday morning.Cleveland Fed President Beth Hammack said in a CNBC interview Thursday that the Federal Open Market Committee should act now to cool inflation.Hammack was one of the three regional Fed presidents who dissented on the FOMC's decision to keep interest rates steady last month. All three called for a rate hike of 25 basis points.Markets are currently pricing in a 66% probability that the FOMC will keep the benchmark lending rate steady next month, with the remaining odds in favor of a 25-basis-point increase, according to the CME FedWatch tool.West Texas Intermediate crude oil rose 1.8% to $83.69 a barrel in Thursday late-afternoon trade, while Brent advanced 2.2% to $89.75.Iran and Oman are working on finalizing a deal that will see both countries share control of the Strait of Hormuz, Reuters reported.Spot gold edged up 0.3% to $4,605.11 per troy ounce, while silver gained 2% to $70.18 per ounce.

Dow JonesNasdaq CompositeS&P 500$CRM$CRWD$HRL$NVDA
Japan

US Equity Markets End Higher After Technology Sector Gains Following Nvidia Results

US equity indexes ended higher Thursday after the technology sector saw gains led by Nvidia's (NVDA) Q2 results.* Nvidia shares were up about 8.7%, among the top gainers across all three main indexes, after fiscal Q2 earnings and revenue more than doubled from a year earlier, and Q3 sales outlook beat estimates.* Qatar's foreign ministry said it is in discussions with Iran over an agreement to implement a "joint project" to clear mines from the Strait of Hormuz as well as "efforts to reduce escalation and create appropriate conditions for dialogue," Al Jazeera reported.* US initial jobless claims fell to 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 in the previous week, in contrast with expectations for an increase to 208,000 in a survey of analysts compiled by Bloomberg.* October West Texas Intermediate crude oil rose $1.44 to settle at $83.67 per barrel, while October Brent crude, the global benchmark, was last seen up $1.90 at $89.74.* Salesforce (CRM) shares were up roughly 23%, the top gainer on the S&P 500 and the Dow, after the company reported higher fiscal Q2 adjusted earnings and revenue, and lifted its fiscal 2027 outlook.* Hormel Foods (HRL) shares were down nearly 10%, the worst performer on the S&P 500, after the company lowered its fiscal 2026 sales outlook and reported mixed Q3 results with sales falling amid soft consumer demand.

Dow JonesNasdaq CompositeS&P 500$CRM$HRL$NVDA
Japan

Update: Technology Pushes US Equity Indexes Higher Following Nvidia's Blockbuster Guidance

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes advanced after Nvidia's (NVDA) strong fiscal Q2 results boosted mega-caps in the technology sector.The Nasdaq Composite jumped 1.3% to 26,466.9, the S&P 500 climbed 0.6% to 7,719.3, and the Dow Jones Industrial Average edged up 0.1% to 53,542.5 ahead of Thursday's close. All sectors, except technology, declined. Consumer staples and consumer discretionary were among the worst performers.Shares of Nvidia jumped past 8%, among the top gainers across all three mainstream indexes, after fiscal Q2 earnings and revenue more than doubled from a year earlier and Q3 sales outlook beat estimates. Nvidia offered a surprisingly strong fiscal 2028 revenue outlook, while its gross margin guidance provided clarity amid rising memory costs, Morgan Stanley said in a note.Salesforce (CRM) surged 23%, the leader on the S&P 500 and the Dow, after the company posted higher fiscal Q2 adjusted earnings and sales, and lifted fiscal 2027 guidance.CrowdStrike (CRWD) soared 20%, one of the biggest gainers in the S&P 500 and Nasdaq, after the company reported higher fiscal Q2 adjusted earnings and revenue, and raised its full-year net new annual recurring revenue outlook. This is a "blowout quarter as AI demand inflects across the platform," according to a Truist Securities note.Qatar's foreign ministry said Iran and Doha discussed an agreement to implement a "joint project" to clear mines from the Strait of Hormuz as well as "efforts to reduce escalation and create appropriate conditions for dialogue," according to a report from Al Jazeera, a Middle Eastern broadcaster.Iran's security chief, Mohsen Rezaei, said the "US must first take practical steps to fulfil Iran's conditions, and then Iran will proceed to open the Strait of Hormuz", Al Jazeera cited a report from the Islamic Republic News Agency. The former Islamic Revolutionary Guard Corps commander reiterated previous pledges by Tehran that if Washington "starts any evil", Iran would "bring disaster to its military and economic interests".The front-month US West Texas Intermediate crude oil contract climbed 2.1% to $83.93 per barrel, and global benchmark North Sea Brent jumped 2.6% to $90.11 per barrel.

Dow JonesNasdaq CompositeS&P 500$CRM$CRWD$NVDA

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