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1,047 stories mentioning Dow Jones Industrial AverageUpdated 14h 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 Futures Mixed Pre-Bell as Traders Cautious on Tech, US Strikes Iran Targets Anew

US equity futures were mixed pre-bell Thursday as traders saw tech stocks trend downwards and the US unleashed another round of strikes against Iran.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.8% lower.SK Hynix (SKHY) stock fell more than 11% in Seoul and 5% in premarket activity on the Nasdaq.US Central Command said in a post on X that it completed another wave of attacks against Iran, holding the nation "accountable" at the direction of President Donald Trump.Iran warned that it would hit key infrastructure in the Gulf region if the US followed through on Trump's threats on Tuesday to strike Iranian infrastructure such as bridges and power plants if progress on peace talks was not achieved.Traders took note of the latest round of earnings with Taiwan Semiconductor Manufacturing (TSM) posting higher Q2 earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.5% at $84.52 per barrel and US West Texas Intermediate crude 0.3% lower at $79.37 per barrel.The June retail sales report, slated for 8:30 am ET, is forecast to show a 0.2% increase following a 0.9% gain in the previous month, according to estimates compiled by Bloomberg. The weekly jobless claims bulletin is expected to show 217,000 new unemployment claims for the week ended July 11, up from 215,000 in the prior week. The Philadelphia Fed's regional manufacturing index for July is seen coming in at 12.5, up from 10.3 posted previously.The July US housing market index, slated for 10 am ET, is expected at 35, unchanged from the prior month. Pending home sales for June are expected to decline by 0.5% after a gain of 3.8% in the prior month.Federal Reserve Dallas President Lorie Logan, Kansas City President Jeffrey Schmid, and Vice Chair Philip Jefferson are slated to speak on Thursday.

Dow JonesNasdaq CompositeS&P 500$SKHY$TSM
Asia Markets

Tech Caution Undercuts Wall Street Pre-Bell; Asia Mixed, Europe Off

Wall Street futures pointed moderately lower pre-bell Thursday, as traders weighed tech issues and noted slipping Taiwan Semiconductor Manufacturing (TSM) shares after the industry colossus reported strong Q2 results.In the futures, the S&P 500 fell 0.1%, and the Nasdaq declined 0.6%, although the Dow Jones was up 0.3%.The VanEck Semiconductor ETF (SMH) traded down 2.2% pre-bell.Taiwan Semiconductor Manufacturing reported a year-on-year revenue increase of 36% in Q2, while net profit rose by 77.4%, topping outlooks. Nevertheless, shares traded down 4.2% pre-bell in New York, with some reports citing concerns regarding rising company capital outlays.Traders also await the 8:30 am ET release of the June retail sales report from Washington, sure to be parsed for clues to consumer behavior.Asian exchanges gyrated overnight, with Hong Kong gaining, while Tokyo lost ground and Seoul's KOSPI Index fell back 6.4% in a tech rout. European bourses tracked moderately south midday on the continent.Also on the economic calendar is the weekly jobless claims report at 8:30 am ET, along with the Philadelphia Fed Manufacturing Index for July.May business inventories, the July NAHB Housing Market Index, and the July NAR Pending Home Sales Index log at 10 am.The weekly EIA natural gas bulletin posts at 10:30 am.Federal Reserve Dallas President Lorie Logan, Kansas City President Jeffrey Schmid, and Vice Chair Philip Jefferson are slated to speak on Thursday.In pre-market action, Bitcoin traded at $64,200, West Texas Intermediate crude oil traded evenly at $76.92, and 10-year US Treasuries offered 4.57%. Spot gold commanded $4,033 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Update: US Equity Indexes Climb as Unexpected Decline in Inflation Helps Counter Sharp Deterioration in Iran Geopolitics

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes rose, as a boost from an unexpected drop in producer price inflation helped outweigh a worsening geopolitical environment, including potential complex military operations against Iran and an emerging threat to shut down the maritime gateway to the Red Sea.The Nasdaq rose 0.6% to 26,269.23, the S&P 500 climbed 0.4% to 7,572.40, and the Dow Jones Industrial Average advanced 0.3% to 52,658.64 on Wednesday. Communication services and consumer discretionary topped the gainers, while utilities led the decliners.The US Producer Price Index fell 0.3% in June after a 0.6% increase in May, below consensus for no change in a Bloomberg-compiled survey. Core PPI rose 0.2%, slower than the 0.3% gain expected and a 0.1% rise in May. PPI was up 5.5% year-over-year in June, versus the 6% gain in May, while core PPI climbed 4.7%, up from 4.6% in May.Fed policy is likely to remain unchanged given the divide between inflation optimists and pessimists, Stifel Chief Economist Lindsey Piegza said in a note. Following the PPI data, the CME FedWatch tool showed a 90% probability of the Fed holding rates steady in July, up from 84% on Tuesday, with the rate-pause likelihood also increasing for September, October, and December. Treasury yields retreated, with the 10-year yield falling four basis points to 4.55% and the two-year sliding 6.3 basis points to 4.13%.Geopolitically, the strikes on Iran aimed at forcing open the Strait of Hormuz are also targeting capabilities that the US would like destroyed before executing complex operations in the country, Reuters reported, citing three US officials. The officials said the strikes effectively strengthen Trump's additional military options.In response, Iran's paramilitary Revolutionary Guard threatened to halt all energy exports from the Middle East over the blockade of its ports, the Associated Press reported. "The export of oil and gas from the region will be either for everyone or for no one," the Guard was cited as saying. Iran is also signaling it could use Yemen's Houthi allies to shut the Bab el-Mandeb gateway to the Red Sea, opening a new front against Washington and putting two of the world's most important energy arteries at risk, a separate report from Reuters said.Despite these tensions, crude oil futures traded off session highs following US inventory data. Brent rose 0.4% to $85.05 a barrel, and the US West Texas Intermediate climbed 0.5% to $79.71 a barrel.US commercial crude oil stocks fell by 1.7 million barrels in the week ended July 10, below the 1.8 million-barrel slide forecast in a Bloomberg-compiled poll. Gasoline stocks fell by 1.5 million barrels during the same period in the US summer driving season, smaller than the 2.0-million-barrel slide expected. Distillate stocks, which power the supply chain comprising commercial trucking and freight trains, rose by 4.6 million barrels, compared with an expected drop of 2.0 million barrels.In company news, Dutch semiconductor equipment supplier ASML (ASML) reported growth in Q2 earnings and sales and raised revenue guidance for the full-year 2026.Mega-cap banks continued to post strong results. Morgan Stanley's (MS) Q2 sales beat the outlook, with robust investment banking and trading driving the top line higher year over year. BlackRock (BLK) also reported higher Q2 adjusted earnings and revenue, and The Bank of New York Mellon (BNY) reported Q2 adjusted earnings and revenue above market expectations.

Dow JonesNasdaq CompositeS&P 500$ASML$BLK$BNY$MS
Update: Wall Street Extends Gains on Further Signs of Cooling Inflation
US Markets

Update: Wall Street Extends Gains on Further Signs of Cooling Inflation

(Updates with market moves at the end of the day.)US equities rose Wednesday, driving major indexes higher for a second straight day as traders digested another softer-than-expected inflation report.The Nasdaq Composite closed 0.6% higher at 26,269.2, while the S&P 500 advanced 0.4% to 7,572.4. The Dow Jones Industrial Average added 0.3% to settle at 52,658.6. Among sectors, communication services saw the biggest gain, while utilities led the laggards.Technology giant Apple (AAPL) was the best performer on the Dow, up 4%. The iPhone maker has held talks with bankers in recent months about possible acquisitions of chip companies, The Information reported, citing unnamed sources.Other tech majors also advanced, with Alphabet's (GOOGL) class A shares, Amazon.com (AMZN), and Microsoft (MSFT) following Apple on the Dow as the top performers.In economic news, US producer prices unexpectedly dropped on a monthly basis in June amid a steep decline in the cost of energy products, official data showed."We expect to see another weak reading for the July (producer prices index), even though global oil prices have moved higher in the past week," Oxford Economics said in a note.On Tuesday, government data showed that US consumer prices decreased last month for the first time in more than six years amid lower energy costs."While still nominally elevated at a dangerously high level, the relative improvement in inflation in June emboldens the more dovish argument that price pressures are already cooling and could retreat further into year-end as the lingering impact from tariffs falls off and energy prices potentially normalize amid -- still tentative -- but ongoing, US-Iran peace negotiations," Stifel said in a note Wednesday.The probability that the Fed will leave its benchmark lending rate unchanged later this month rose to nearly 90% Wednesday from 84% Tuesday, according to the CME FedWatch tool.Inflation should ease in the next few quarters as energy prices are expected to trend back closer to where they were before the US-Iran war began, New York Fed President John Williams said.Inflation is more likely to accelerate than cool given price pressures arising from an artificial intelligence boom and major supply shocks, Federal Reserve Governor Lisa Cook said. Separately, New York Fed President John Williams said that inflation should ease in the next few quarters as energy prices retreat.West Texas Intermediate crude oil was up 1.2% at $80.29 a barrel in Wednesday late-afternoon trade, while Brent rose 1.3% to $85.80.The US military conducted fresh strikes on Iran on Wednesday as tensions flare over the Strait of Hormuz, the world's most important chokepoint for crude flows, the US Central Command said.US Treasury yields were lower, with the two-year rate down 5.2 basis points at 4.14% and the 10-year rate falling 3.2 basis points to 4.55%.In other company news, PayPal (PYPL) shares jumped 17%, the top gainer on the S&P 500, after Reuters reported that Stripe and Advent International have offered to acquire PayPal in a deal that would value the payments giant at more than $53 billion.Pentair (PNR) shares slid 15%, the worst performer on the S&P 500. The water treatment company late Tuesday reported preliminary second-quarter results below market estimates and lowered its full-year outlook amid headwinds related to its pool segment.Gold edged down 0.2% to $4,060.80 per troy ounce, while silver lost 1.6% to $58.17 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$GOOGL$MSFT$PNR$PYPL
Japan

US Equity Markets End Higher After Unexpected Decline in Producer Price Index

US equity indexes closed higher Wednesday after an unexpected drop in producer prices.* The US producer price index fell 0.3% in June following a 0.6% increase in May, below the flat consensus in a Bloomberg survey.* The US intensified airstrikes against Iran following Tehran's attacks on ships attempting to pass through the Strait of Hormuz, the Associated Press reported.* August West Texas Intermediate crude oil rose $0.92 to settle at $80.26 per barrel, while September Brent crude, the global benchmark, was last seen up $1.02 at $85.75.* Payments firm Stripe and Advent International offered to acquire PayPal (PYPL) for $60.50 a share in a deal valuing the company at more than $53 billion, Reuters reported. PayPal shares jumped 17%, the top gainer on the S&P 500.* Pentair (PNR) shares fell 15%, the biggest drop on the S&P, a day after the company reported preliminary Q2 results below market estimates and lowered its full-year outlook.

Dow JonesNasdaq CompositeS&P 500$PNR$PYPL
Japan

Update: US Equity Indexes Climb After Inflation Unexpectedly Drops, Strikes on Iran Prepping Groundwork for Tedious Operations

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes edged up as a boost from an unexpected drop in producer price inflation was partially offset by Washington setting the stage for complex operations in Iran, which has signaled its allies could shut the maritime gateway to the Red Sea.The Nasdaq rose 0.4% to 26,221.8, the S&P 500 climbed 0.2% to 7,559.1, and the Dow Jones Industrial Average advanced 0.2% to 52,611.4 ahead of Wednesday's close. All three gauges briefly traded moderately lower earlier in the session. Communication services and consumer discretionary topped the gainers, while utilities led the decliners.The US Producer Price Index fell 0.3% in June following a 0.6% increase in May, below the flat consensus in a Bloomberg-compiled survey. Excluding food and energy, core PPI rose 0.2%, slower than the 0.3% gain expected and a 0.1% rise in May. PPI was up 5.5% year-over-year in June, versus the 6% gain in May, while core PPI climbed 4.7%, up from 4.6% in May.Most US Treasury yields fell in the final leg of trading, with the 10-year down four basis points to 4.55% and the two-year declining 6.3 basis points to 4.13%.Recent waves of US strikes on Iran aimed at forcing open the Strait of Hormuz are also targeting Iranian military capabilities that the US would want to destroy before executing more complex operations against Iran, three US officials told Reuters.The officials, who were granted anonymity to discuss military matters, said the strikes effectively strengthen Trump's additional military options.Iran currently has no plans for negotiations with the US, CNN reported, citing the country's foreign ministry spokesperson, who added that Tehran would not adhere to any agreement if Washington "breaches its obligations."Iran is now signaling it could use Yemen's Houthi allies to shut the Bab el-Mandeb gateway to the Red Sea, opening a new front against Washington and putting two of the world's most important energy arteries at risk, a separate report from Reuters said. As US strikes deepen inside Iran and Houthi attacks escalate in tandem, analysts said Tehran is widening the conflict and seeking to increase pressure on Washington by extending the threat to global trade and energy supplies beyond the Gulf, the news report added.The front-month global benchmark North Sea Brent rose 0.4% to $85.05 a barrel, and the US West Texas Intermediate climbed 0.5% to $79.71 a barrel, albeit off session highs.

Dow JonesNasdaq CompositeS&P 500
Equity Markets Rise Intraday as Big Tech Gains
US Markets

Equity Markets Rise Intraday as Big Tech Gains

US benchmark equity indexes were higher intraday, aided by certain mega-cap technology stocks, as traders parsed the latest inflation data.The Nasdaq Composite was up 0.5% at 26,246.1 after midday Wednesday, while the S&P 500 advanced 0.3% to 7,568.2. The Dow Jones Industrial Average rose 0.2% to 52,620.4. Among sectors, communication services saw the biggest gain, while energy led the laggards.Tech giant Apple (AAPL) was the best performer on the Dow, up 4%. The iPhone maker has held talks with bankers in recent months about possible deals for chip companies, The Information reported, citing unnamed sources.Other tech majors Alphabet's (GOOGL) class A shares, Amazon.com (AMZN), and Microsoft (MSFT) followed Apple on the Dow as the top performers.In economic news, US producer prices unexpectedly dropped on a monthly basis in June amid a steep decline in the cost of energy products, official data showed."We expect to see another weak reading for the July (producer prices index), even though global oil prices have moved higher in the past week," Oxford Economics said in a note.On Tuesday, government data showed that US consumer prices decreased last month for the first time in more than six years amid lower energy costs."While still nominally elevated at a dangerously high level, the relative improvement in inflation in June emboldens the more dovish argument that price pressures are already cooling and could retreat further into year-end as the lingering impact from tariffs falls off and energy prices potentially normalize amid -- still tentative -- but ongoing, US-Iran peace negotiations," Stifel said in a note Wednesday.The probability that the Fed will leave its benchmark lending rate unchanged later this month rose to nearly 90% Wednesday from 84% Tuesday, according to the CME FedWatch tool.Inflation should ease in the next few quarters as energy prices are expected to trend back closer to where they were before the US-Iran war began, New York Fed President John Williams said.West Texas Intermediate crude oil was down 0.4% at $78.99 a barrel intraday, while Brent dropped 0.3% to $84.45.The US military conducted fresh strikes on Iran for 90 minutes, as tensions flare over the Strait of Hormuz, the world's most important chokepoint for crude flows, CNN reported Wednesday, citing the US Central Command.US Treasury yields were lower intraday, with the two-year rate down 6.1 basis points at 4.13% and the 10-year rate falling 3.8 basis points to 4.55%.In other company news, PayPal (PYPL) shares jumped 16%, the top gainer on the S&P 500, after Reuters reported that Stripe and Advent International have offered to acquire PayPal in a deal that would value the payments giant at more than $53 billion.Pentair (PNR) shares slid 15%, the worst performer on the S&P 500. The water treatment company late Tuesday reported preliminary second-quarter results below market estimates and lowered its full-year outlook amid headwinds related to its pool segment.Gold edged down 0.7% to $4,042.70 per troy ounce, while silver lost 3.2% to $57.22 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$GOOGL$MSFT$PNR$PYPL
Asia Markets

Update: US Equity Indexes Edge Up After Producer Price Inflation Unexpectedly Drops, Iran Signals Red Sea Disruption

(Updates with index/price moves, macroeconomic/rates data, and company/geopolitical news from the first paragraph.)US equity indexes ground higher following a surprise decline in the wholesale price inflation rate and a signal from Iran that its allies could shut the maritime gateway to the Red Sea.The Nasdaq rose 0.4% to 26,221.4, the S&P 500 climbed 0.3% to 7,564.7, and the Dow Jones Industrial Average advanced 0.3% to 52,643.8 after midday Wednesday. All three gauges briefly traded moderately lower earlier in the session. Communication services and consumer discretionary topped the gainers, while energy led the decliners.The US Producer Price Index fell 0.3% in June following a 0.6% increase in May, below the flat consensus in a Bloomberg-compiled survey. Excluding food and energy, core PPI rose 0.2%, slower than the 0.3% gain expected and a 0.1% rise in May. PPI was up 5.5% year-over-year in June, versus the 6% gain in May, while core PPI climbed 4.7%, up from 4.6% in May.The probability of the Federal Reserve leaving its policy unchanged in July rose to 90% following the PPI data, from 84% a day ago and 69% a week ago, the CME FedWatch tool showed Wednesday. The likelihood of a pause continuing across September, October, and December also jumped. On Tuesday, market expectations for an unchanged monetary policy surged after the June consumer price inflation rate declined the most since April 2020.Most US Treasury yields fell after midday, with the 10-year down 4.4 basis points to 4.54% and the two-year declining 6.9 basis points to 4.12%.US Central Command struck Iran's coastal defense systems and cruise missile storage and launch sites on Greater Tunb Island during the 90-minute wave on Wednesday, it said. "The strikes further degraded Iran's ability to attack commercial shipping in the Strait of Hormuz." The strikes followed attacks overnight.Iran is now signaling it could use Yemen's Houthi allies to shut the Bab el-Mandeb gateway to the Red Sea, opening a new front against Washington and putting two of the world's most important energy arteries at risk, Reuters reported. As US strikes deepen inside Iran and Houthi attacks escalate in tandem, analysts said Tehran is widening the conflict and seeking to increase pressure on Washington by extending the threat to global trade and energy supplies beyond the Gulf, the news report said.The front-month global benchmark North Sea Brent shed 0.2% to $84.53 a barrel, and the US West Texas Intermediate declined 0.4% to $79.05 a barrel, off session highs.Excluding inventories in the Strategic Petroleum Reserve, US commercial crude oil stocks fell by 1.7 million barrels in the week ended July 10, following the Labor Day weekend, versus a 1.8 million-barrel decline expected in a Bloomberg-compiled poll and a 3.0-million-barrel gain in the previous week. Gasoline stocks fell by 1.5 million barrels, smaller than the 2.0-million-barrel decrease expected. Further, distillate stocks rose by 4.6 million barrels, compared with an expected drop of 2.0 million barrels.In precious metal markets, gold futures retreated 0.2% to $4,060.90, and silver futures slumped 2.2% to $57.78.In company news, Dutch semiconductor equipment supplier ASML (ASML) reported year-over-year growth in Q2 earnings and sales and raised revenue guidance for the full-year 2026.Mega-cap banks continued to post strong results. Morgan Stanley's (MS) Q2 sales beat the outlook, with robust investment banking and trading driving the top line higher year over year. BlackRock (BLK) also reported higher Q2 adjusted earnings and revenue. The Bank of New York Mellon (BNY) reported its Q2 adjusted earnings and revenue above market expectations.Payments firm Stripe and Advent International have offered to acquire PayPal (PYPL) for $60.50 per share in a deal valuing the company at more than $53 billion, Reuters reported, citing two unnamed people familiar with the matter.

Dow JonesNasdaq CompositeS&P 500$ASML$BLK$BNY$MS$PYPL
Asia Markets

Exchange-Traded Funds Rise, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV edged higher Wednesday afternoon. Actively traded Invesco QQQ Trust (QQQ) fell 0.9%.US equity indexes were mixed following a surprise decline in the wholesale price inflation rate and a signal from Iran that its allies could shut the maritime gateway to the Red Sea.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each shed about 1.4%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) fell 2.3%; iShares US Technology ETF (IYW) shed 1%, and iShares Expanded Tech Sector ETF (IGM) was down 1.5%.The State Street SPDR S&P Semiconductor (XSD) declined 3.9%, and iShares Semiconductor (SOXX) fell 4%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 0.9%. Direxion Daily Financial Bull 3X Shares (FAS) advanced 2.7%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 2.5%.CommoditiesCrude oil gained 0.1%, and the United States Oil Fund (USO) rose 0.1%. Natural gas added 0.5%, and the United States Natural Gas Fund (UNG) was up 0.1%.Gold on Comex dipped 0.9%, and the State Street SPDR Gold Shares (GLD) eased 0.5%. Silver was down 3.7%, and iShares Silver Trust (SLV) was 3.3% lower.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) added 0.6%. The Vanguard Consumer Staples ETF (VDC) rose 0.7%, and iShares Dow Jones US Consumer Goods (IYK) was up 0.7%.The State Street Consumer Discretionary Select Sector SPDR (XLY) rose 1.2%. VanEck Retail ETF (RTH) added 1.2%, and the State Street SPDR S&P Retail (XRT) advanced 1.8%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 0.4%, iShares US Healthcare (IYH) added 0.3%, and Vanguard Health Care ETF (VHT) was up 0.4%. IShares Biotechnology ETF (IBB) was up 0.2%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) slipped 1.1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) rose 0.8%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) added 0.8%, ProShares Ether ETF (EETH) was up 2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 1.8% higher.

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

Update: US Equity Indexes Mixed After Producer Price Inflation Unexpectedly Declines, Iran Signals Potential Red Sea Disruption

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes traded mixed, giving up intraday gains following a surprise decline in the wholesale price inflation rate and a signal from Iran that its allies could shut the maritime gateway to the Red Sea.The Nasdaq was steady at 26,092.1, while the S&P 500 slipped 0.1% to 7,534.1, and the Dow Jones Industrial Average leaned slightly lower to 52,469.8 after midday Wednesday. All three gauges traded higher earlier in the session.The US Producer Price Index fell by 0.3% in June following a 0.6% increase in May, below expectations for a flat reading in a Bloomberg-compiled survey. Excluding food and energy prices, core PPI rose 0.2%, slower than the 0.3% gain expected and a 0.1% rise in May.Iran is now signaling it could use Yemen's Houthi allies to shut the Bab el-Mandeb gateway to the Red Sea, opening a new front against Washington and putting two of the world's most important energy arteries at risk, Reuters reported. As US strikes deepen inside Iran and Houthi attacks escalate in tandem, analysts said Tehran is widening the conflict and seeking to increase pressure on Washington by extending the threat to global trade and energy supplies beyond the Gulf, the news report said.The front-month global benchmark North Sea Brent fell 0.2% to $84.59 a barrel, and the US West Texas Intermediate slid 0.1% to $79.23 a barrel.In company news, Dutch semiconductor equipment supplier ASML (ASML) reported year-over-year growth in Q2 earnings and sales and raised revenue guidance for the full-year 2026.Payments firm Stripe and Advent International have offered to acquire PayPal (PYPL) for $60.50 per share in a deal that would value the company at more than $53 billion, Reuters reported, citing two unnamed people familiar with the matter.

Dow JonesNasdaq CompositeS&P 500$ASML$PYPL
Asia Markets

Update: US Equity Futures Higher Pre-Bell Amid Inflation Data, Middle East Tensions

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging slightly higher pre-bell Wednesday as traders considered the latest inflation data amid the continuing tensions in the Middle East.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.5% higher.The US seasonally adjusted consumer price index, a measure of inflation, fell by 0.4% in June, compared with expectations for a 0.1% decrease in a survey compiled by Bloomberg and following a 0.5% increase in May, government data showed.In a post on X, US Central Command said it started another wave of attacks against Iran at 6 am ET, aiming to "further degrade military capabilities Iranian forces have used to attack commercial shipping in the Strait of Hormuz."President Donald Trump reiterated in a post on Truth Social that the US was reinstating a "full" blockade, "but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo." Trump also backtracked from a threat to impose a 20% levy on cargo shipped through the Strait of Hormuz, saying that the Gulf States would invest in the US instead.Traders also digested the latest round of earnings with ASML (ASML) reporting higher Q2 earnings and sales, and Johnson & Johnson (JNJ) posted an increase in Q2 adjusted earnings and sales.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.4% at $85.04 per barrel and US West Texas Intermediate crude 0.5% higher at $79.72 per barrel.The US Producer Price Index, released at 8:30 am ET, fell 0.3% in June following a 0.6% increase in May, compared with no change expected in a survey compiled by Bloomberg. The New York Federal Reserve's Empire State manufacturing index jumped to 15.6 in July from 5.7 in June, compared with expectations of a smaller increase to a reading of 9.2.Federal Reserve Chair Kevin Warsh will testify before the Senate Banking Committee at 10 am ET, following a similar presentation Tuesday before the House.Federal Reserve New York President John Williams, St. Louis President Alberto Musalem, and Governor Lisa Cook are slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 1.5% higher, Hong Kong's Hang Seng ended 1.4% higher, and China's Shanghai Composite finished 0.3% lower. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was 0.6% lower in Europe's early afternoon session.In equities, ASML stock was up 3.2% after the company reported its Q2 financial results. Alibaba's (BABA) shares were 4.1% higher after a Bloomberg report cited a company spokesperson as saying that Apple (AAPL) would be integrating the Alibaba's Qwen AI into Chinese iPhones, iPads, and Mac operating systems. Merck (MRK) stock was up 2.3% after the company said the phase 3 trial of its therapy, Keytruda, met the primary endpoint of progression-free survival in patients with mismatch repair-deficient advanced or recurrent endometrial cancer.On the losing side, Johnson & Johnson shares fell 2.1% after the company posted its Q2 financial results.

Dow JonesNasdaq CompositeS&P 500$AAPL$ASML$BABA$JNJ$MRK
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Wednesday Amid Economic Reports

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) advanced 0.4% in Wednesday's premarket activity, amid economic data releases.US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures slipping 0.02%, and Nasdaq futures gaining 0.4% before the start of regular trading.Mortgage applications fell by 2.7% in the week ended July 10 as higher 30-year mortgage rates depressed new home applications, while refinancing activity improved, according to Mortgage Bankers Association data released Wednesday.The New York Federal Reserve's Empire State manufacturing index rose to 15.6 in July from 5.7 in June, compared with a smaller expected increase to a reading of 9.2 in a survey compiled by Bloomberg.US producer prices fell 0.3% in June, compared with expectations for no change, while core producer prices rose 0.2%, below forecasts for a 0.3% increase.Fed Chair Kevin Warsh begins his second day of testimony at 10:00 am ET.Weekly crude oil stocks data are set for release at 10:30 am ET, followed by an appearance byNew York Fed President John Williams and Fed Governor Lisa Cook are slated to speak on Wednesday.The Fed's Beige Book report will be released at 2:00 pm ET.In premarket action, bitcoin was up by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% higher, Ether ETF (EETH) advanced 0.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated 0.01%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.6%, the Vanguard Industrials Index Fund (VIS) rose 1%, while the iShares US Industrials ETF (IYJ) was inactive.Pentair (PNR) stock fell more than 21% before the opening bell after the water treatment company reported preliminary Q2 results below market estimates and lowered its full-year outlook amid headwinds related to its pool segment.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.1% lower.BlackRock (BLK) shares traded up more than 4% in early hours activity after Bloomberg reported the company is in discussions over providing about $45 million in private credit to Indian e-commerce platform Udaan as part of a proposed $160 million funding package.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.6%, and the iShares US Technology ETF (IYW) was 0.2% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 1.1%, while the iShares Semiconductor ETF (SOXX) rose by 1.4%.ASML (ASML) shares were up more than 3% in premarket activity after the company reported year-over-year growth in Q2 earnings and sales and raised revenue guidance for the full-year 2026.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) retreated 0.01%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was up 1.2%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was flat.Lucid (LCID) shares were down more than 2% pre-bell after dropping more than 16% in Tuesday's regular session following rumors of a potential bankruptcy filing that the company quashed.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) declined 0.6%, the Vanguard Health Care Index Fund (VHT) was down 0.3%, while the iShares US Healthcare ETF (IYH) slipped 0.3%. The iShares Biotechnology ETF (IBB) was up 0.2%.Merck (MRK) stock was up more than 1% premarket after the company said a phase 3 trial of its therapy, Keytruda, met the primary endpoint of progression-free survival in patients with mismatch repair-deficient advanced or recurrent endometrial cancer.EnergyThe iShares US Energy ETF (IYE) was down 2.5%, while the State Street Energy Select Sector SPDR ETF (XLE) retreated by 0.1%.Oceaneering International (OII) stock was up nearly 1% before market open after the company and Kongsberg were selected by the US Department of War's Defense Innovation Unit to support the US Navy's vision for scalable uncrewed undersea platforms.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 0.6% to $79.82 per barrel on the New York Mercantile Exchange. Natural gas was down by 0.2% to $2.90 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 0.1%, while the United States Natural Gas Fund (UNG) was 0.9% lower.Gold futures for July gained 0.8% to $4,035.90 an ounce on the Comex. Silver futures retreated by 1.4% to $58.28 an ounce. SPDR Gold Shares (GLD) decreased 0.4%, and the iShares Silver Trust (SLV) was 1.2% lower.

Dow JonesNasdaq CompositeS&P 500$ASML$BETH$BITO$BLK$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LCID$MRK$OII$PMR$PNR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Japan

US Equity Futures Higher Pre-Bell Amid Inflation Data, Middle East Tensions

US equity futures were edging higher pre-bell Wednesday as traders considered the latest inflation data amid the continuing tensions in the Middle East.S&P 500 futures were up 0.1%, Nasdaq futures were 0.4% higher, while Dow Jones Industrial Average futures were steady.The US seasonally adjusted consumer price index, a measure of inflation, fell by 0.4% in June, compared with expectations for a 0.1% decrease in a survey compiled by Bloomberg and following a 0.5% increase in May, government data showed.In a post on X, US Central Command said it started another wave of attacks against Iran at 6 am ET, aiming to "further degrade military capabilities Iranian forces have used to attack commercial shipping in the Strait of Hormuz."President Donald Trump reiterated in a post on Truth Social that the US was reinstating a "full" blockade, "but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo." Trump also backtracked from a threat to impose a 20% levy on cargo shipped through the Strait of Hormuz, saying that the Gulf States would invest in the US instead.Traders also digested the latest round of earnings with ASML (ASML) reporting higher Q2 earnings and sales, and Johnson & Johnson (JNJ) posted an increase in Q2 adjusted earnings and sales.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.4% at $85.04 per barrel and US West Texas Intermediate crude 0.4% higher at $79.65 per barrel.The June Producer Price Index, scheduled for release at 8:30 am ET, is expected to hold steady with no change following a 1.1% increase in the preceding month, according to estimates compiled by Bloomberg. The July Empire State manufacturing index, slated for release at the same time, is seen coming in at 9.2 versus 5.7 previously.Federal Reserve Chair Kevin Warsh will testify before the Senate Banking Committee at 10 am ET, following a similar presentation Tuesday before the House.Federal Reserve New York President John Williams, St. Louis President Alberto Musalem, and Governor Lisa Cook are slated to speak on Wednesday.

Dow JonesNasdaq CompositeS&P 500$ASML$JNJ
Stocks Rise Pre-Bell Ahead of PPI Data, Fed Chair Warsh's Testimony
US Markets

Stocks Rise Pre-Bell Ahead of PPI Data, Fed Chair Warsh's Testimony

The main US stock measures were trending higher in Wednesday's premarket activity as traders await the latest data on wholesale prices, Federal Reserve Chair Kevin Warsh's testimony and another batch of earnings.The S&P 500 and the Dow Jones Industrial Average increased 0.2% each before the opening bell, while the Nasdaq added 0.5%. The indexes finished the previous trading session higher.Last month's producer price index, a measure of wholesale prices, is scheduled to be released at 8:30 am ET. The report comes a day after government data showed that consumer inflation declined in June, its first monthly drop since May 2020 and the largest decrease since April 2020, amid lower energy costs."Investors and the (Fed) will breathe a sigh of relief at the size of the improvement in the inflation numbers last month, likely keeping an imminent rate hike off the table later this month," BMO Chief US Economist Scott Anderson said in a Tuesday note.There's an 86% likelihood that the Fed will keep its monetary policy unchanged later this month, up from 84% on Tuesday, according to the CME FedWatch tool. The odds of a 25-basis-point rate increase moved down to 14% from 16%.Warsh is set to testify before the Senate Banking Committee at 10 am. Speaking before a House of Representatives committee on Tuesday, Warsh vowed to curb high inflation straining American consumers and companies and reiterated the central bank's commitment to restore price stability.Fed Governor Lisa Cook, New York Fed President John Williams and St. Louis Fed President Alberto Musalem are due to speak on Wednesday.Treasury yields were in the green in premarket action, with the two-year rate rising 2.6 basis points to 4.22%, while the 10-year rate gained 2.3 basis points to 4.61%.Johnson & Johnson (JNJ), Morgan Stanley (MS), BlackRock (BLK), Progressive (PGR), Bank of New York Mellon (BNY), PNC Financial Services (PNC), Elevance Health (ELV) and Cintas (CTAS) report their latest financial results before the bell, among others. United Airlines (UAL) and J.B. Hunt Transport Services (JBHT) post earnings after the market closes.On Tuesday, banking giants JPMorgan (JPM), Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC) and Citigroup (C) reported better-than-expected second-quarter results.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am, followed by the Empire State manufacturing index for July at 8:30 am. The weekly EIA domestic petroleum inventories report is out at 10:30 am, followed by the Fed's Beige Book, a compilation of economic and business reports from the 12 regional Fed branches, at 2 pm.West Texas Intermediate crude oil inclined 1.2% to $80.27 a barrel before the open, while Brent advanced 1% to $85.63.President Donald Trump said Tuesday he would no longer demand a 20% "reimbursement fee" from ships passing through the Strait of Hormuz. In a social media post, Trump said he has "decided to replace" the fee with "trade and investment deals" with Gulf countries.Amid renewed tensions in the Middle East, Trump said a "full blockade" will be enforced on all ships coming to and from Iranian ports. The US Central Command reportedly said it carried out another wave of strikes against Iran late Tuesday, according to CNBC.Shares of International Business Machines (IBM) rebounded 0.9% pre-bell after closing the previous session down 25%, as the company reported preliminary second-quarter results below Wall Street's expectations. PayPal (PYPL) jumped 19% following media reports that Stripe and Advent International have offered to acquire the payments company in a deal worth more than $53 billion.Gold declined 0.8% to $4,037 per troy ounce, while bitcoin edged up 0.2% to $64,689.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Tech Shares Lift Wall Street Pre-Bell; Asia Up, Europe Lower

Wall Street futures pointed moderately higher pre-bell Wednesday, after ASML (ASML) the giant Dutch maker of semiconductor-manufacturing equipment, reported record Q2 earnings and raised guidance.In the futures, the S&P 500 rose 0.1%, the Nasdaq inclined 0.4% and the Dow Jones was even.The VanEck Semiconductor ETF (SMH) traded up 1.2% pre-bell.Investors also await the producer price index (PPI) report for June, from Washington at 8:30 am ET, likely to provide clues to how higher energy bills are impacting farmers, manufacturers and others.Federal Reserve Chair Kevin Warsh will testify before the Senate Banking Committee at 10 am ET, following a similar presentation Tuesday before the House. Warsh signaled a commitment to containing inflation, before the lower body.Asian exchanges traded higher overnight, on tech-sector strength. European bourses tracked slightly lower on the continent.On the earnings scene, BlackRock (BLK) traded up 4.7% pre-bell after the investment house reported better-than-expected Q2 financial results.PayPal (PYPL) traded up 19% pre-bell after media reports that Stripe and Advent International, both privately held, have proposed a $53 billion buyout of the payment-system enterprise.On the economic calendar, in addition to the PPI report, is the Empire State Manufacturing Index for July at 8:30 am ET, followed by the weekly EIA petroleum status report at 10:30 am.The Beige Book, the Federal Reserve's compendium of business and economic reports from the 12 Fed branches, posts at 2 pm.Federal Reserve New York President John Williams, St. Louis President Alberto Musalem, and Governor Lisa Cook are slated to speak on Wednesday.In pre-market action, bitcoin traded at $64,607, West Texas Intermediate crude oil traded up 1.1% at $80.18 and 10-year US Treasuries offered 4.61%. Spot gold commanded $4,031 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Update: US Equity Indexes Rise as Cooling Inflation Eases Interest-Rate Pressure on Tech While IBM Sell-Off Restrains Dow

(Updates with index/price moves, macroeconomic data, and geopolitical news from the first paragraph.)US equity indexes closed higher on Tuesday after the steepest slide in inflation in more than six years helped lift the Nasdaq Composite and the S&P 500, while a sharp sell-off in IBM (IBM) anchored the Dow Jones Industrial Average.The tech-heavy Nasdaq advanced 0.9% to 26,107.01, and the S&P 500 climbed 0.4% to 7,543.59. The Dow Jones Industrial Average rose by less than 0.1% to 52,508.27.Interest-rate-sensitive sectors, technology and communication services, led gainers in a broad-based rally. Healthcare was the worst performer. IBM sank 25%, the most on the Dow and the S&P 500, after Q2 guidance missed expectations.Looking at gains from the top 20 companies with market capitalizations exceeding $200 billion, half were from the semiconductor industry, according to data compiled by Finviz. The top gainer was SK Hynix, up 27%, following its Nasdaq debut last Friday.The consumer price index fell 0.4% month-over-month in June, the steepest drop since April 2020, compared with forecasts for a 0.1% drop in a Bloomberg-compiled survey and a 0.5% gain in May, according to the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, held steady, compared with the 0.2% growth estimate, in line with May's growth.The year-over-year rates for overall and core CPI slowed to 3.5% and 2.6%, respectively, from 4.2% and 2.9%. Core services, excluding housing, also known as the super core, saw the biggest sequential slide since May 2020, a Jefferies note said.The probability of the Federal Reserve leaving its policy unchanged in July soared to 83% from 58% a day ago, according to the CME FedWatch tool. The likelihood of the pause continuing over September, October, and December surged.Meanwhile, President Donald Trump withdrew his proposal to charge a 20% toll on cargo transiting the Strait of Hormuz, according to his social media post on Tuesday. "Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States."US Central Command will restart its naval blockade of Iranian ports at 4 p.m. ET on Tuesday.Front-month global benchmark North Sea Brent rose 2.2% to $85.09 a barrel, and US West Texas Intermediate was up 1.9% to $79.59 a barrel, albeit both crude types were off session highs."Resumption of tension in the Strait of Hormuz risks a reversal, but this month's [inflation] data is a step in the right direction for the Fed," Jefferies Chief US Economist said in a note.US Treasury yields fell, with the 10-year down 3.7 basis points to 4.58% and the two-year lower 7.4 basis points to 4.19%.Taking into account the weighting differences between the CPI and personal consumption expenditures baskets, the headline PCE, which is due out in a couple of weeks, is tracking a 0.3% decline month-over-month, according to a Scotiabank note. Core PCE is tracking similarly to the flat core CPI reading.

Dow JonesNasdaq CompositeS&P 500$IBM
Update: Equities Rise Following CPI Data, Big Bank Earnings
US Markets

Update: Equities Rise Following CPI Data, Big Bank Earnings

(Updates with market moves at the end of the day.)US stocks advanced Tuesday as investors cheered cooler-than-expected consumer inflation data and digested big banks' earnings reports.The Nasdaq Composite closed 0.9% higher at 26,107, while the S&P 500 rose 0.4% to 7,543.6. The Dow Jones Industrial Average settled just above the flatline at 52,508.3. Among sectors, technology paced the gainers, while healthcare saw the biggest drop.The US consumer price index declined 0.4% in June, its first monthly drop since May 2020 and the largest decline since April 2020, amid lower energy costs, official data showed. The consensus in a Bloomberg-compiled survey was for the index to move down by 0.1%.Annually, inflation cooled to 3.5% last month from May's 4.2%, compared with expectations for a 3.8% print."Investors and the Federal Reserve will breathe a sigh of relief at the size of the improvement in the inflation numbers last month, likely keeping an imminent rate hike off the table later this month," BMO said in a note.There's now an 83% likelihood that the Fed will keep its monetary policy unchanged at its July meeting, up from 58% Monday, according to the CME FedWatch tool. The odds of a 25-basis-point rate increase slid to 17% from 42%.US Treasury yields were lower intraday, with the two-year rate down 7.4 basis points at 4.19% and the 10-year rate falling 2.5 basis points to 4.59%.In corporate news, Goldman Sachs (GS), JPMorgan Chase (JPM), Wells Fargo (WFC), Bank of America (BAC) and Citigroup (C) all posted strong second-quarter results Tuesday.Goldman shares jumped 9%, the best performer on the Dow and the second-top gainer on the S&P 500. JPMorgan and Bank of America also advanced, while Citigroup and Wells Fargo fell.IBM (IBM) shares slumped 25%, the worst performer on the S&P 500 and the Dow. The computer and software company's preliminary second-quarter results fell short of Wall Street's expectations, with Chief Executive Arvind Krishna calling the performance "disappointing."West Texas Intermediate crude oil was up 1.9% at $79.65 a barrel in Tuesday late-afternoon trade, while Brent rose 2.3% to $85.22.US President Donald Trump said Tuesday he would no longer demand a 20% "reimbursement fee" from ships passing through the Strait of Hormuz. In a social media post, Trump said he has "decided to replace" the fee with "trade and investment deals" with Gulf countries.Amid renewed tensions in the Middle East, Trump said a "full blockade" will be enforced on all ships coming to and from Iranian ports.Fed Chair Kevin Warsh vowed to curb high inflation straining American consumers and companies, affirming the central bank's commitment to restore price stability.Monetary policymakers "have no tolerance for persistently elevated inflation," Warsh said while speaking before a US House of Representatives committee. "If we get policy right -- and we will -- the inflation surge of the last five years will be a thing of the past."Gold was up 1.4% at $4,061.60 per troy ounce, while silver gained 2% to $59.15 per ounce.

Dow JonesNasdaq CompositeS&P 500$BAC$C$GS$IBM$JPM$WFC
Japan

US Equity Markets End Higher on Cooling Inflation, Trump's Strait of Hormuz Toll Reversal

US equity indexes closed higher Tuesday after the June inflation rate fell and President Donald Trump withdrew plans to impose a toll on vessels transiting the Strait of Hormuz as a US reimbursement fee.* The US seasonally adjusted consumer price index in June fell 0.4% from a month earlier, compared with expectations for a 0.1% decrease in a Bloomberg survey and following a 0.5% increase in May, government data showed.* August West Texas Intermediate crude oil rose $1.54 to settle at $79.68 per barrel, while September Brent crude, the global benchmark, was last seen up $1.92 at $85.22.* Goldman Sachs (GS) shares rose 9.1%, the second-biggest gain on the S&P 500, after Q2 results beat analysts' estimates.* IBM (IBM) shares tumbled 25%, the largest drop on the S&P, after preliminary Q2 results fell short of market expectations, with CEO Arvind Krishna calling the performance "disappointing."

Dow JonesNasdaq CompositeS&P 500$GS$IBM
Japan

Update: US Equity Indexes Mixed as IBM Sell-Off Hits Dow, Cooling Inflation Eases Interest-Rate Pressure

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes traded mixed as a sell-off in IBM (IBM) shares restrained the Dow Jones Industrial Average, while the Nasdaq Composite and the S&P 500 rose after the steepest drop in inflation in more than six years sent government bond yields sharply lower.The tech-heavy Nasdaq advanced 1.1% to 26,146.1, with the S&P 500 up 0.5% to 7,550.2 ahead of Tuesday's close. The Dow Jones Industrial Average bucked the trend, trading steady at 52,547.8.Interest-rate sensitive sectors, technology, and communication services, led gainers amid a broad-based rally. Healthcare, consumer staples, and real estate were the only decliners. IBM shares sank 24%, the most on the Dow and the S&P 500, after the tech giant issued Q2 guidance below analysts' expectations.Looking at gains from the top 20 companies with market capitalizations exceeding $200 billion, half were from the semiconductor industry, according to data compiled by Finviz. The top gainer was SK Hynix, up 24%, following its Nasdaq debut last Friday.The US seasonally adjusted consumer price index fell by 0.4% month-over-month in June, the steepest drop since April 2020, compared with expectations for a 0.1% decrease in a Bloomberg-compiled survey and following a 0.5% increase in May, according to data released Tuesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, held steady, compared with the 0.2% growth estimate, in line with May's growth.US Treasury yields fell, with the 10-year down 3.7 basis points to 4.58% and the two-year lower by 7.4 basis points to 4.19%.The probability of the Federal Reserve leaving its policy unchanged in July soared to 83% following the inflation data, from 58% a day ago, the CME FedWatch tool showed Tuesday. The likelihood of the policy pause continuing across September, October, and December also surged.Meanwhile, President Donald Trump withdrew his proposal to charge a 20% toll on cargo transiting the Strait of Hormuz, according to his social media post on Tuesday. "Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States."There will be a "FULL Blockade, but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo," Trump said on Truth Social. US Central Command says it will restart its naval blockade at 4 p.m. ET, CNN reported.The front-month global benchmark North Sea Brent rose 2.2% to $85.09 a barrel, and the US West Texas Intermediate was up 1.9% to $79.59 a barrel, albeit both crude types were off session highs.

Dow JonesNasdaq CompositeS&P 500$GS$IBM$JPM
Equity Markets Mostly Rise Intraday After Inflation Data, Bank Earnings
US Markets

Equity Markets Mostly Rise Intraday After Inflation Data, Bank Earnings

US benchmark equity indexes were mostly higher intraday as traders assessed the latest inflation data and quarterly results of banking giants.The Nasdaq Composite was up 1.1% at 26,150.9 after midday Tuesday, while the S&P 500 rose 0.5% to 7,551.2. The Dow Jones Industrial Average fell 0.1% to 52,469.6. Among sectors, technology paced the gainers, while healthcare saw the biggest drop.The US consumer price index declined 0.4% in June, its first monthly drop since May 2020 and the largest decline since April 2020, amid lower energy costs, official data showed. The consensus in a Bloomberg-compiled survey was for the index to move down by 0.1%.Annually, inflation cooled to 3.5% last month from May's 4.2%, compared with expectations for a 3.8% print."Investors and the Federal Reserve will breathe a sigh of relief at the size of the improvement in the inflation numbers last month, likely keeping an imminent rate hike off the table later this month," BMO said in a note.There's now an 83% likelihood that the Fed will keep its monetary policy unchanged at its July meeting, up from 58% Monday, according to the CME FedWatch tool. The odds of a 25-basis-point rate increase slid to 17% from 42%.US Treasury yields were lower intraday, with the two-year rate down 5.1 basis points at 4.21% and the 10-year rate falling 2.5 basis points to 4.59%.In corporate news, Goldman Sachs (GS), JPMorgan Chase (JPM), Wells Fargo (WFC), Bank of America (BAC) and Citigroup (C) all posted strong second-quarter results Tuesday.Goldman shares were up 7.7% intraday, the best performer on the Dow and the second-top gainer on the S&P 500. JPMorgan and Bank of America were also higher, while Citigroup and Wells Fargo fell.IBM (IBM) shares slumped 25%, the worst performer on the S&P 500 and the Dow. The computer and software company's preliminary second-quarter results fell short of Wall Street's expectations, with Chief Executive Arvind Krishna calling the performance "disappointing."West Texas Intermediate crude oil was up 1% at $78.88 a barrel, while Brent rose 1.5% to $84.54.US President Donald Trump said Tuesday he would no longer demand a 20% "reimbursement fee" from ships passing through the Strait of Hormuz. In a social media post, Trump said he has "decided to replace" the fee with "trade and investment deals" with Gulf countries.Amid renewed tensions in the Middle East, Trump also said a "full blockade" will be enforced on all ships coming to and from Iranian ports, while the strait remains open.Fed Chair Kevin Warsh vowed to curb high inflation straining American consumers and companies, affirming the central bank's commitment to restore price stability.Monetary policymakers "have no tolerance for persistently elevated inflation," Warsh said while speaking before a US House of Representatives committee. "If we get policy right -- and we will -- the inflation surge of the last five years will be a thing of the past."Gold was up 1.4% at $4,062.20 per troy ounce, while silver gained 1.7% to $58.96 per ounce.

Dow JonesNasdaq CompositeS&P 500$BAC$C$GS$IBM$JPM$WFC

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