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Stocks Rise Pre-Bell as US, Iran Reach Peace Deal; Investors Await Fed Policy Decision
US Markets

Stocks Rise Pre-Bell as US, Iran Reach Peace Deal; Investors Await Fed Policy Decision

The benchmark US stock measures were pointing higher before the opening bell Monday as the US and Iran reached an agreement to end their war and reopen the crucial Strait of Hormuz, while investors prepare for a major policy decision by the Federal Reserve later in the holiday-shortened week.The S&P 500 rose 1.2%, the Dow Jones Industrial Average gained 0.8% and the Nasdaq added 1.9% in premarket activity. The indexes finished Friday trading in the green.US markets will be closed on Friday for the Juneteenth National Independence Day holiday.In a social media post on Sunday, President Donald Trump said a deal with Iran is "complete" and that he authorized the immediate removal of the US naval blockade of Iranian ports. In a separate post, Trump said the Strait of Hormuz will reopen for mine removal upon the signing of the peace agreement, currently scheduled for Friday in Switzerland.West Texas Intermediate crude oil dropped 5.6% to $80.11 a barrel in the most recent premarket activity, while Brent declined 5.2% to $82.77.Trump's posts came after Pakistani Prime Minister Shehbaz Sharif announced on X that a peace deal had been reached between Washington and Tehran, with both sides agreeing to immediately end their military operations on all fronts, including Lebanon.Iran's Supreme National Security Council said a memorandum of understanding regarding the end of war negotiations with the US was "finalized," Iran's Mehr News Agency reported Monday.The Fed's monetary policy committee is scheduled to meet on Tuesday, with a decision on interest rates due on Wednesday. Markets are widely expecting the central bank to keep its key lending rate unchanged for a fourth consecutive meeting, according to the CME FedWatch tool.Treasury yields were down in premarket action, with the two- and 10-year rates retreating 4 basis points each to 4.05% and 4.45%, respectively.Last week, government data showed that annual inflation in the US accelerated to its highest level in three years in May.Monday's economic calendar has the Empire State manufacturing index for June at 8:30 am ET, followed by the industrial production report for May at 9:15 am. The housing market index for the current month is out at 10 am.SpaceX (SPCX) rose 6.1% pre-bell after the Elon Musk-led company finished its trading debut on Friday up 19%. Advanced Micro Devices (AMD) inclined 4.2%, while Nvidia (NVDA) moved 2.1% higher.Accenture (ACN), Jabil (JBL) and Kroger (KR) are scheduled to report their latest financial results later this week.Gold advanced 2.8% to $4,359 per troy ounce, while bitcoin increased 3% to $65,660.

Dow JonesNasdaq CompositeS&P 500$ACN$AMD$JBL$KR$NVDA$SPCX
International

Persian Gulf Outlook Lifts Wall Street Pre-Bell; Asian, Europe Higher

Wall Street futures pointed sharply higher pre-bell Monday, after oil prices declined on statements from Washington and Tehran that the Strait of Hormuz will re-open soon, as part of a larger peace plan.In the futures, the S&P 500 rose 1.2%, the Nasdaq inclined 2% and the Dow Jones was up 0.9%.West Texas Intermediate crude oil traded down 5.3% at $80.35, in morning hours.The VanEck Semiconductor Exchange-Traded Fund (SMH) traded up 3.6% pre-bell.Investors also look forward to the Federal Reserve's rate decision, slated for Wednesday following a two-day policy session. Markets expect no rate moves by the central bank.The national retail sales report for May is slated for a Wednesday am release.Asian exchanges traded sharply higher overnight, led by a 5% upsurge on Tokyo's Nikkei 225 index, as crude prices fell.European bourses tracked moderately north midday on the continent.On the economic calendar for Monday is the Empire State Manufacturing Index for June at 8:30 am ET, followed by the industrial production release for May at 9:15 am, and then the housing market index for June at 10 am.In pre-market action, bitcoin traded at $65,679, and 10-year US Treasuries offered 4.44%. Spot gold commanded $4,339 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

US Equity Investors to Watch Out for Fed Chair Kevin Warsh's Inflation Views, Details of Iran Peace Deal This Week

US equity investors will focus this week on Kevin Warsh's inflation assessment at his first rate-setting meeting as the chair of the Federal Reserve, and details of the framework agreement that Washington and Tehran announced over the weekend to end the Iran war.* Wednesday's summary statement will be accompanied by the Fed's Summary of Economic Projections, followed by Warsh's press conference, a Scotiabank note said late Friday. No rate changes are expected, according to the CME FedWatch tool.* Will Warsh seek to tweak 'Inflation is elevated'?, the note said, referring to current language in the Fed policy statement and President Donald Trump's calls to lower interest rates in the final leg of Jerome Powell's chairmanship.* "The [Federal Open Market] Committee would have to agree, but his argument in favour of trimmed mean PCE could invite a modification," the note said, drawing attention to a different gauge that may become the Fed's preferred to assess inflation.* Iran confirmed a deal with the US to end fighting on all fronts, Al Jazeera reported Monday. Trump ended Washington's blockade of Iranian ports and said the Strait of Hormuz will reopen on Friday when a pact is signed in Switzerland, the news report said. The deal comes ahead of the upcoming Group of Seven meeting in France that Trump is attending.* Iran said its nuclear program will be the subject of talks after the deal is signed, Reuters reported. Israel said it will not withdraw from Lebanese territory it has seized and will retaliate if Iran attacks it due to events in Lebanon, the news report added.* Early Monday, West Texas Intermediate crude oil futures were down 5.6% to $80.11 barrel, the US 10-year Treasury yield dropped four basis points to 4.45%, and gold futures jumped 2.8% to $4,359.01 per ounce.* Quarterly earnings due this week include Accenture (ACN), Kroger (KR), and Jabil (JBL).

Dow JonesNasdaq CompositeS&P 500$ACN$JBL$KR
Update: Equities Rise as SpaceX Soars; Wall Street Logs Weekly Gain Amid Iran Deal Optimism
US Markets

Update: Equities Rise as SpaceX Soars; Wall Street Logs Weekly Gain Amid Iran Deal Optimism

(Updates with market moves at the end of the day.)US equities advanced Friday to lock in a weekly gain for Wall Street as Space Exploration Technologies' (SPCX) blockbuster debut and a potential Middle East peace deal buoyed sentiment.The Dow Jones Industrial Average closed 0.7% higher at 51,202.3, while the S&P 500 rose 0.4% to 7,431.4. The Nasdaq Composite added 0.3% to 25,888.8. Barring healthcare, all sectors ended in the green, led by materials.SpaceX -- Elon Musk's rocket and satellite company -- ended its first trading day 19% above its initial public offering price of $135. The rally pushed the company's market capitalization above $2 trillion, placing it among the 10 most valuable public companies in the US, even more valuable than Musk's electric vehicle maker, Tesla (TSLA).The three major Wall Street indexes posted a weekly gain of 0.7% each, rebounding after last week's declines."It was a dizzying week in financial markets," Sal Guatieri, senior economist at BMO Capital Markets, said in a report. "After closing above 7,600 for the first time ever on June 2, the S&P 500 was headed for a second weekly decline, until Thursday afternoon. That's when President (Donald) Trump called off plans to strike Iran "very hard" as a potential peace deal emerged, with hopes of both sides signing off in Geneva this weekend.""Investor spirits were also stoked by the world's largest initial public offering, SpaceX, which blasted off on Friday," Guatieri said.West Texas Intermediate crude oil was down 3.9% at $84.30 a barrel in Friday late-afternoon trade, while Brent fell 4% to $86.79. The benchmarks were headed for weekly falls after last week's gains.The US and Iran are edging closer to an interim agreement to reopen the Strait of Hormuz, Bloomberg News reported Friday, citing senior officials. The agreement would extend the existing ceasefire by around two months and open further negotiations over Iran's nuclear program, according to the report.Pakistani Prime Minister Shehbaz Sharif said Friday that "final" text of a peace deal has been reached."Pakistan is now working closely with both sides to finalize the next steps," Sharif said in a social media post Friday. "Peace has never been this close as it is now."US Treasury yields were higher, with the 10-year rate last up 1.5 basis points at 4.49% and the two-year rate rising 1.9 basis points to 4.09%.In economic news, US consumer sentiment rebounded in June as gasoline prices eased, while the inflation outlook dropped, the University of Michigan's latest survey showed."Sentiment and spending have become disconnected," Oxford Economics said in a note. "Still, higher gas prices will take a bite out of consumers' real disposable incomes, forcing them to reel in spending."In other company news, Adobe (ADBE) shares fell 6.8%, the second-steepest drop on the S&P 500. The software maker reported solid quarterly results that were overshadowed by the departure of its finance chief and lingering questions about the company's growth trajectory, RBC Capital Markets said in a note.Lennar (LEN) dropped 4.9%, among the worst performers on the S&P 500, as the homebuilder issued a downbeat fiscal third-quarter home delivery outlook.Gold was last up 2.9% at $4,231,10 per troy ounce, while silver jumped 6.1% to $67.90 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADBE$LEN$SPCX$TSLA
Asia Markets

US Stocks Gain This Week on Iran Deal Progress, Softer Rate Expectations

US equity indexes rose this week as Iran signaled that peace-deal terms with the US are in their final review, inflation data eased rate-increase expectations, and SpaceX (SPCX) shares jumped in their market debut.* The S&P 500 closed at 7,431.46 on Friday, up from 7,383.74 a week earlier. The Nasdaq Composite rose to 25,888.84, from 25,709.53, and the Dow Jones Industrial Average advanced to 51,202.26 from 50,866.78.* Iran is in the final stages of internal deliberations on a peace agreement with the US, Iranian Foreign Ministry spokesperson Esmaeil Baghaei said Friday, according to CNN. "Understanding has been reached on the majority of issues," he said.* US core producer prices rose less than expected in May from both April and a year earlier. Core consumer prices also came in softer than forecast on a monthly basis, while the annual reading matched expectations.* FedWatch data late Friday showed a 43% probability of a 25-basis-point rate increase in December, little changed from a week earlier. Odds for a September increase fell to 26% from 34%, and October odds dropped to 33% from 40%, indicating reduced expectations for additional increases in H2.* Markets see a near-certain chance the Fed will hold rates steady in June and a 92% probability of no change in July.* Space Exploration Technologies shares opened at $150 on Friday, topping the initial public offering price of $135. The stock closed up 19%.

Dow JonesNasdaq CompositeS&P 500$SPCX
International

Update: US Equity Indexes Rise After Iran Says Peace Deal With Washington in Final Stage of Discussions

(Updates with index/price moves, analyst comment, and other information from the first paragraph.)US equity indexes rose amid growing expectations that the Iran interim peace deal is in the final stretch and an 19% surge in Space Exploration Technologies (SPCX) shares on its Nasdaq debut.The Dow Jones Industrial Average rose 0.7% to 51,202.26, followed by a 0.5% increase in the S&P 500 to 7,431.46, and a 0.3% increase in the Nasdaq Composite to 25,888.84 on Friday. All sectors except consumer discretionary and healthcare advanced. Materials, financials, and utilities led the gainers.Iran is in the final stages of discussing the terms of an agreement with the US, CNN cited Iranian Foreign Ministry spokesperson Esmaeil Baghaei as saying in state media on Friday. "At present, understanding has been reached on the majority of issues, and we are in the final stage of internal deliberations," CNN cited Baghaei as saying."With close observation of the other side's positions, we will announce our stance according to circumstances," the spokesperson was cited as saying. "Even as I am speaking with you now, meetings among the relevant institutions are underway."Crude oil futures slumped, with front-month global benchmark North Sea Brent sliding 3.7% to $87.02 per barrel. The US West Texas Intermediate dropped 3.6% to $84.54 per barrel."Oil slumped after President Trump talked up another peace deal, with markets this time appearing increasingly willing to believe it may be for real, despite the lack of confirmation from Tehran," Saxo Bank said in a note. "Brent crude fell to a two-month low amid expectations of a surge in supply from tankers currently stranded in the Gulf."In precious metals, gold futures jumped 2.7% to $4,226.8, while silver futures surged 5.9% to $67.77.In company news, shares of Space Exploration Technologies (SPCX) or SpaceX closed at $160.95, 19.2% above its initial public offering price of $135, making Elon Musk the world's first trillionaire.Adobe's (ADBE) Chief Financial Officer Dan Durn's departure and fiscal 2026 organic annual recurring revenue outlook have created more uncertainty for the company, outweighing its fiscal Q2 results, RBC Capital Markets said in a note. Shares dropped 6.8%, among the worst performers on the S&P 500 and the Nasdaq.In economic news, the University of Michigan's preliminary consumer sentiment index rose to 48.9 in June from 44.8 in May, topping expectations of 46.0 in a Bloomberg-compiled survey. One-year inflation expectations fell to 4.6% from 4.8%, while five-year inflation expectations dropped to 3.4% from 3.9%."Even with June's early gains, however, views of the economy are still relatively dour," the University of Michigan said Friday in a statement. Consumers "feel burdened by the recent escalation in inflation and worry that higher inflation could remain stubborn going forward, particularly in the short run," the university said.Most US Treasury yields rose, with the 10-year up two basis points to 4.49% and the two-year climbed 1.5 basis points to 4.09%.

Dow JonesNasdaq CompositeS&P 500$ADBE$SPCX
International

US Equity Markets End Higher After Iran Confirms Progress on Peace Agreement, Crude Oil Prices Fall

US equity indexes were higher on Friday after Iran confirmed discussions on a peace treaty and crude oil prices fell.* Iran is in the final stages of discussing the terms of an agreement with the US, CNN cited Iranian Foreign Ministry spokesperson Esmaeil Baghaei as saying in state media on Friday. The draft deal includes a commitment that the US will lift oil sanctions, final negotiations will not begin until half of Iran's frozen funds are released, and a US naval blockade ends, CNBC reported, citing Iran's Mehr News Agency.* The University of Michigan's preliminary consumer sentiment index rose to 48.9 in June from 44.8 in May, beating expectations for 46.0 in a Bloomberg-compiled survey.* July West Texas Intermediate crude oil fell $3.27 to settle at $84.44 per barrel, while August Brent crude, the global benchmark, was last seen down $3.45 at $86.93.* Seagate Technology (STX) shares were up about 7.3%, among the top gainers on the S&P 500, after the company said its Seagate HDD Cayman unit issued a notice to redeem all outstanding 3.50% exchangeable senior notes due 2028 that have not been exchanged.* Adobe's (ADBE) CFO departure and fiscal 2026 organic annual recurring revenue outlook have created more uncertainty for the company, outweighing its fiscal Q2 results, RBC Capital Markets said in a note emailed Friday. The company's shares were down nearly 6.8%, the steepest decline on the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$ADBE$STX
International

Update: US Equity Indexes Rise After Iran Signals Peace Deal in Final Stretch

(Updates with index/price moves and Iran peace deal talks from the first paragraph.)US equity indexes advanced as expectations grew that an interim peace deal to end the war in Iran is close after Tehran reportedly confirmed discussions over the terms are in the final stretch.The Dow Jones Industrial Average rose 0.8% to 51,227.1, followed by a 0.4% increase in the S&P 500 to 7,425.2, and a 0.3% increase in the Nasdaq Composite to 25,881.5 ahead of the close on Friday.All sectors except consumer discretionary and healthcare advanced. Materials, financials, and energy led the gainers.Iran is in the final stages of discussing the terms of an agreement with the US, CNN cited Iranian Foreign Ministry spokesperson Esmaeil Baghaei as saying in state media on Friday. "At present, understanding has been reached on the majority of issues, and we are in the final stage of internal deliberations," CNN cited Baghaei as saying."With close observation of the other side's positions, we will announce our stance according to circumstances," the spokesperson was cited as saying. "Even as I am speaking with you now, meetings among the relevant institutions are underway."Crude oil futures slumped, with front-month global benchmark North Sea Brent sliding 3.8% to $86.98 per barrel. The US West Texas Intermediate dropped 3.7% to $84.45 per barrel.Meanwhile, in company news, shares of Space Exploration Technologies (SPCX) or SpaceX opened at $150, above its initial public offering price of $135 apiece, making Elon Musk the world's first trillionaire. Shares traded 23%.

Dow JonesNasdaq CompositeS&P 500$SPCX
Update: Equities Rise Intraday Amid SpaceX's Blockbuster Debut, US-Iran Deal Prospects
Wire

Update: Equities Rise Intraday Amid SpaceX's Blockbuster Debut, US-Iran Deal Prospects

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday as Space Exploration Technologies (SPCX) rallied on its market debut, while oil prices fell as traders tracked reports of a potential deal between Washington and Iran.The Dow Jones Industrial Average was up 0.8% at 51,260.8 after midday Friday, while the S&P 500 rose 0.6% to 7,436.6. The Nasdaq Composite added 0.5% to 25,930.1. Barring consumer discretionary and healthcare, all sectors were in the green, led by materials.SpaceX -- Elon Musk's rocket and satellite company -- opened trade at $150 and moved as high as $176.52, after having priced its initial public offering at $135. The rally pushed the company's market capitalization above $2 trillion, placing it among the 10 most valuable public companies in the US, even more valuable than Musk's electric vehicle maker, Tesla (TSLA).The IPO drew more than $350 billion in orders from institutions and retail investors, with the former accounting for over $250 billion, Bloomberg News reported, citing unnamed sources. The IPO, which would raise a record $75 billion, is expected to close Monday.West Texas Intermediate crude oil was down 3.4% at $84.67 a barrel intraday Friday, while Brent fell 3.5% to $87.20.The US and Iran are edging closer to an interim agreement to reopen the Strait of Hormuz, Bloomberg News reported Friday, citing senior officials. The agreement would extend the existing ceasefire by around two months and open further negotiations over Iran's nuclear program, according to the report."We can confirm that a final, agreed upon text of the peace deal has been reached, and Pakistan is now working closely with both sides to finalize the next steps," Pakistani Prime Minister Shehbaz Sharif said in a social media post Friday. "Peace has never been this close as it is now.""Unlike previous (potential US-Iran deal) announcements that were met with considerable skepticism, markets this time appear increasingly willing to price in a meaningful probability of success," Saxo Bank said in a report.US Treasury yields were higher intraday, with the 10-year rate up 1.4 basis points at 4.48% and the two-year rate rising one basis point to 4.08%.In economic news, US consumer sentiment rebounded in June as gasoline prices eased, while the inflation outlook dropped, the University of Michigan's latest survey showed."Sentiment and spending have become disconnected," Oxford Economics said in a note. "Still, higher gas prices will take a bite out of consumers' real disposable incomes, forcing them to reel in spending."In other company news, Adobe (ADBE) shares were down 7.2% intraday, the second-steepest drop on the S&P 500. The software maker reported solid quarterly results that were overshadowed by the departure of its finance chief and lingering questions about the company's growth trajectory, RBC Capital Markets said in a note.Lennar (LEN) was down 4.3%, among the worst performers on the S&P 500, as the homebuilder issued a downbeat fiscal third-quarter home delivery outlook.Gold was up 3% at $4,237.50 per troy ounce, while silver jumped 6% to $67.86 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADBE$LEN$SPCX$TSLA
International

Update: US Equity Indexes Advance Amid Hopes of Iran Peace Deal, SpaceX Shares Surging in Nasdaq Debut

(Updates with index/price moves, macroeconomic data, and political/company news from the first paragraph.)US equity indexes rose while crude oil slumped amid hopes that an interim deal between Tehran and Washington to end the war is close, and shares of Space Exploration Technologies (SPCX) soared in its Nasdaq debut on Friday.The Dow Jones Industrial Average rose 0.7% to 51,220.4, followed by a 0.5% increase in the S&P 500 to 7,430.8, and a 0.3% increase in the Nasdaq Composite to 25,895.5. All sectors except consumer discretionary advanced. Materials, financials, and energy led the gainers.Iran's foreign minister said a deal "has never been closer," CNN reported Friday. President Donald Trump decried Tehran as "dishonorable" for what he said were inaccurate state media descriptions of a potential interim US-Iran agreement, the news report said.The draft deal includes a commitment that the US will lift oil sanctions, final negotiations will not begin until half of Iran's frozen funds are released, and a US naval blockade ends, CNBC reported, citing Iran's Mehr News Agency. The deal also includes, among other things, Iran's pledge to reopen the Strait of Hormuz within 30 days of deal signing, according to Mehr's report."What they said, including their weak and pathetic statement on having a deal, bears no relation to the truth," Trump said in a Truth Social post Friday.Nevertheless, crude oil futures slumped. Front-month global benchmark North Sea Brent slid 3.6% to $87.15 per barrel, and US West Texas Intermediate dropped 3.4% to $84.70 per barrel.In precious metals, gold futures jumped 3.1% to $4,239.10, while silver futures surged 5.9% to $67.81.In company news, shares of Space Exploration Technologies or SpaceX opened at $150, above its initial public offering price of $135 apiece, making Elon Musk the world's first trillionaire. Shares traded more than 29% after midday.Adobe's (ADBE) Chief Financial Officer Dan Durn's departure and fiscal 2026 organic annual recurring revenue outlook have created more uncertainty for the company, outweighing its fiscal Q2 results, RBC Capital Markets said in a note. Shares dropped 7.2%, among the worst performers on the S&P 500 and the Nasdaq.In economic news, the University of Michigan's preliminary consumer sentiment index rose to 48.9 in June from 44.8 in May, topping expectations for 46.0 in a Bloomberg-compiled survey. One-year inflation expectations fell to 4.6% from 4.8%, while five-year inflation expectations dropped to 3.4% from 3.9%."Even with June's early gains, however, views of the economy are still relatively dour," the University of Michigan said Friday. Consumers "feel burdened by the recent escalation in inflation and worry that higher inflation could remain stubborn going forward, particularly in the short run," the university said.Most US Treasury yields rose, with the 10-year up 1.6 basis points to 4.48% and the two-year climbed 1.3 basis points to 4.08%.

Dow JonesNasdaq CompositeS&P 500$ADBE$SPCX
Asia Markets

Exchange-Traded Funds Rise, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were higher. Actively traded Invesco QQQ Trust (QQQ) added 0.7%.US equity indexes traded mixed amid conflicting reports on the terms of a draft deal between Iran and Washington to end the war in the Middle East and Space Exploration Technologies (SPCX) making history with its stock market debut.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each rose 1.1%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) climbed up 1.1%; iShares US Technology ETF (IYW) rose 0.9%, and iShares Expanded Tech Sector ETF (IGM) was up 1%.The State Street SPDR S&P Semiconductor (XSD) advanced 2.1%, and iShares Semiconductor (SOXX) was 2.3% higher.FinancialThe State Street Financial Select Sector SPDR (XLF) added 1.1%. Direxion Daily Financial Bull 3X Shares (FAS) climbed up 3.4%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 3.3%.CommoditiesCrude oil shed 3.6%, and the United States Oil Fund (USO) fell 2%. Natural gas rose 1.3%, and the United States Natural Gas Fund (UNG) was up 1.5%.Gold on Comex gained 2.9%, and the State Street SPDR Gold Shares (GLD) rose 0.3%. Silver advanced 6.1%, and iShares Silver Trust (SLV) was up 0.7%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 0.2%. The Vanguard Consumer Staples ETF (VDC) added less than 0.1%, and iShares Dow Jones US Consumer Goods (IYK) was up 0.3%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was fractionally lower. VanEck Retail ETF (RTH) was 0.3% lower, and the State Street SPDR S&P Retail (XRT) rose 0.4%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) dipped 0.1%, iShares US Healthcare (IYH) fell 0.1%, and Vanguard Health Care ETF (VHT) rose fractionally. IShares Biotechnology ETF (IBB) climbed up 0.5%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 0.8%. Vanguard Industrials Index Fund (VIS) gained 0.7%, while iShares US Industrials (IYJ) rose 0.8%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) was up 0.8%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 0.8%, ProShares Ether ETF (EETH) fell 0.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.3% 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 as Trump Fumes Over Leaked Terms to End Iran War, SpaceX Debuts

(Updates with index moves and new information influencing markets from the first paragraph.)US equity indexes traded mixed amid conflicting reports on the terms of a draft deal between Iran and Washington to the end war in the Middle East and Space Exploration Technologies (SPCX) making history with its stock market debut.The Dow Jones Industrial Average rose 0.4% to 51,047.9, followed by a 0.1% increase in the S&P 500 to 7,404.3 in midday trading on Friday. The Nasdaq Composite fell 0.2% to 25,749.4.In company news, shares of Space Exploration Technologies opened at $150, above the initial public offering price of $135 per share, making Elon Musk the world's first trillionaire. Shares traded 21% after the open.President Donald Trump decried Tehran as "dishonorable" for what he said were inaccurate state media descriptions of a potential interim US-Iran agreement, CNN reported. Iran's foreign minister said a deal "has never been closer," according to CNN.Iran's Mehr News Agency reported that a draft deal includes a commitment from the US to lift oil sanctions and that final negotiations will not begin until half of Iran's frozen funds are released and a US naval blockade ends, according to CNBC. The deal also includes a pledge from Iran to reopen the Strait of Hormuz within 30 days, among other points, Mehr reported, according to CNBC.Crude oil futures slumped, with front-month global benchmark North Sea Brent sliding 3.8% to $84.38 per barrel and US West Texas Intermediate lower by 3.9% to $86.87 per barrel.Most US Treasury yields rose, with the 10-year up 1.8 basis points to 4.48% and the two-year climbing 1.1 basis points to 4.08%.

Dow JonesNasdaq CompositeS&P 500$SPCX
Commodities

Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Friday Ahead of SpaceX Debut

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2% and the actively traded Invesco QQQ Trust (QQQ) fell 0.3% in Friday's premarket activity, ahead of the debut of Elon Musk's Space Exploration Technologies after markets open.US stock futures were also mixed, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.4%, and Nasdaq futures easing 0.3% before the start of regular trading.The preliminary University of Michigan consumer sentiment report for June will be released at 10 am ET, while the weekly Baker Hughes oil-and-gas rig count posts at 1 pm ET.In premarket action, bitcoin was up by 0.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% lower, Ether ETF (EETH) retreated 1.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) lost 0.02%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.6%, and the iShares US Technology ETF (IYW) was 0.3% lower, while the iShares Expanded Tech Sector ETF (IGM) was up 0.1%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 0.5%, while the iShares Semiconductor ETF (SOXX) declined by 1.2%.Adobe (ADBE) shares were down more than 9% in premarket activity as multiple analyst price target cuts followed the software maker's latest quarterly results and announcement that Chief Financial Officer Dan Durn had resigned.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.7%, and the Vanguard Industrials Index Fund (VIS) was 0.3% higher, while the iShares US Industrials ETF (IYJ) retreated by 0.04%.Rocket Lab (RKLB) stock was up more than 2% before the opening bell after the company said it has been added to the Nasdaq-100 Index, effective June 22.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) was down 1%, while the iShares US Healthcare ETF (IYH) gained by 1.6%. The iShares Biotechnology ETF (IBB) was 0.3% higher.Enliven Therapeutics (ELVN) stock was down more than 3% premarket after the company priced an upsized public offering of 8.9 million shares at $37.50 per share and pre-funded warrants to purchase up to 1.73 million shares at $37.499 each.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.5% lower.Barclays (BCS) shares were up nearly 2% pre-bell after the British financial services giant agreed to acquire the UK operations of GoHenry, a money-management education platform, from Acorns Grow.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 1.4%. The iShares US Consumer Staples ETF (IYK) retreated by 0.1%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained by 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.3% higher.Lennar (LEN) shares were down nearly 2% pre-bell after the homebuilder issued a downbeat fiscal Q3 delivery outlook.EnergyThe iShares US Energy ETF (IYE) was down 0.4%, while the State Street Energy Select Sector SPDR ETF (XLE) was 0.5% lower.Venture Global (VG) stock was down more than 1% before market open after the company closed an offering of $1.13 billion of 6.375% senior secured notes due Dec. 15, 2034, and $1.13 billion of 6.625% senior secured notes due June 15, 2036.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 2.7% to $85.37 per barrel on the New York Mercantile Exchange. Natural gas advanced by 0.3% at $3.10 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 1.3%, while the United States Natural Gas Fund (UNG) was 0.4% higher.Gold futures for July advanced by 2.4% to $4,213.40 an ounce on the Comex. Silver futures rose by 4.2% to $66.69 an ounce. SPDR Gold Shares (GLD) was down by 0.3%, and the iShares Silver Trust (SLV) decreased by 0.8%.

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

Update: US Equity Futures Rise Pre-Bell on Middle East Peace Deal Optimism

(Updates with recent oil price movement, world markets' overview and stock movements.)US equity futures were higher pre-bell Friday as traders anticipated the potential signing of a peace deal between the US and Iran that will reopen the Strait of Hormuz.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were marginally up.The draft memorandum of understanding includes a commitment from the US to lift oil sanctions and a pledge from Iran to reopen the Strait of Hormuz, according to a CNBC report citing Iranian state media. The two nations could sign the agreement as soon as Sunday in Switzerland, Bloomberg reported, citing senior officials.President Donald Trump said in a post on Truth Social Thursday that he had cancelled planned strikes on Iran, as talks with Iranian leadership had resulted in final points being "approved by all parties involved."Traders took note of the latest round of earnings, with Adobe (ADBE) posting higher fiscal Q2 adjusted earnings and revenue. They are also anticipating the debut of SpaceX on Nasdaq, set to go public under the ticker symbol SPCX.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.5% at $88.10 per barrel and US West Texas Intermediate crude 2.8% lower at $85.22 per barrel.The University of Michigan consumer sentiment index for June, slated for 10 am ET, is expected at 46.0, up from 44.8 previously.In other world markets, Japan's Nikkei closed 2.8% higher, Hong Kong's Hang Seng ended 1.9% higher, and China's Shanghai Composite finished 1.1% higher. Meanwhile, the UK's FTSE 100 was up 0.9%, and Germany's DAX index was 1.2% higher in Europe's early afternoon session.In equities, Adobe shares dropped 9.1% after the company reported its fiscal Q2 financial results and Chief Financial Officer Dan Durn announced his exit from the firm effective Monday. Venture Global (VG) stock was down 1.5% after the company said it closed an offering of $1.13 billion of 6.375% senior secured notes due Dec. 15, 2034, and $1.13 billion of 6.625% senior secured notes due June 15, 2036.On the winning side, IBM (IBM) and ServiceNow (NOW) shares were up 0.5% and 0.2%, respectively, after the companies said they have expanded their collaboration to help enterprises modernize legacy data and accelerate the use of artificial intelligence across core business operations. Nokia (NOK) stock was up 0.8% after the company upgraded its Network Services Platform with an agentic artificial intelligence framework to enable trusted AI operations across multi-vendor IP networks and advance autonomous network capabilities.

Dow JonesNasdaq CompositeS&P 500$ADBE$IBM$NOK$NOW$SPCX$VG
Japan

US Equity Futures Rise Pre-Bell on Higher Optimism for Middle East Peace Deal

US equity futures were higher pre-bell Friday as traders anticipated a peace deal between the US and Iran finally being completed and the Strait of Hormuz reopened.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 0.5% higher.The draft version of the memorandum of understanding includes a commitment from the US to lift oil sanctions and a pledge from Iran to reopen the Strait of Hormuz, according to a CNBC report citing Iranian state media. The two nations could sign the agreement as early as next week, Bloomberg reported, citing senior officials.President Donald Trump said in a post on Truth Social that he had cancelled planned strikes on Iran, as talks with Iranian leadership had resulted in final points being "approved by all parties involved."Traders took note of the latest round of earnings, with Adobe (ADBE) reporting higher fiscal Q2 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3.4% at $87.32 per barrel and US West Texas Intermediate crude 3.4% lower at $84.72 per barrel.The University of Michigan consumer sentiment index for June, slated for 10 am ET, is expected at 46.0, up from 44.8 previously.

Dow JonesNasdaq CompositeS&P 500$ADBE
Stocks Rise Pre-Bell Amid Media Reports of US-Iran Peace Deal Progress
US Markets

Stocks Rise Pre-Bell Amid Media Reports of US-Iran Peace Deal Progress

The benchmark US stock measures were pointing higher before the open Friday amid media reports that the US and Iran are nearing a peace deal, while investors prepare for SpaceX's (SPCX) market debut.The S&P 500 rose 0.4%, the Dow Jones Industrial Average increased 0.6% and the Nasdaq added 0.2% in premarket activity. All three indexes finished the previous trading session with their biggest one-day percentage gains since April 8.The US and Iran are nearing a tentative peace deal, with a potential signing possibly coming as soon as Sunday, Bloomberg News reported, citing people familiar with the matter. Iranian state media reported a draft of the deal included a commitment from Washington to lift oil sanctions on Tehran, while Iran would agree to reopen the Strait of Hormuz within 30 days, according to CNBC.In a social media post on Thursday, President Donald Trump said he cancelled scheduled strikes and bombings against Iran after talks with Tehran were brought to the "highest level" of Iranian leadership and "approved.""Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the US, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others," according to Trump. "The naval blockade will remain in full force and effect until this transaction is finalized."West Texas Intermediate crude oil dropped 3.2% to $84.95 a barrel before the opening bell, while Brent declined 3.1% to $87.62.The Organization of the Petroleum Exporting Countries lowered its global oil demand growth forecast for this year, but raised its expectations for 2027.Space Exploration Technologies, widely known as SpaceX, on Thursday priced its initial public offering at about $135 per share for 555.6 million Class A shares, raising gross proceeds of nearly $75 billion.The company is scheduled to begin trading Friday.US producer prices rose more than projected in May, matching the previous month's pace, while the annual increase reached the highest since late 2022 amid surging energy costs, government data showed Thursday. Earlier in the week, consumer price data showed inflation accelerating to the fastest pace in about three years last month.Treasury yields were down in premarket action, with the two-year rate retreating 1.2 basis points to 4.06%, while the 10-year rate was off 0.8 basis points to 4.46%.Friday's economic calendar also has the preliminary University of Michigan consumer sentiment report for June at 10 am ET, while the weekly Baker Hughes oil-and-gas rig count is out at 1 pm.Shares of Adobe (ADBE) fell 6.4% pre-bell after the software maker reported its latest quarterly results and announced the departure of its Chief Financial Officer Dan Durn. Lennar (LEN) decreased 2.4% as the homebuilder issued a downbeat fiscal third-quarter home delivery outlook.Gold advanced 3% to $4,236 per troy ounce, while bitcoin was slightly in the green at $63,620.

Dow JonesNasdaq CompositeS&P 500$ADBE$LEN$SPCX$TSLA
International

Persian Gulf, Oil, SpaceX Lift Wall Street Pre-Bell; Asia Europe Up

Wall Street futures pointed moderately higher pre-bell Friday, as traders weighed easing oil prices, a possible Persian Gulf peace deal, and the pending SpaceX (SPCX) initial public offering (IPO).In the futures, the S&P 500 rose 0.4%, the Nasdaq advanced 0.3%, and the Dow Jones was up 0.5%.West Texas Intermediate crude oil traded lower at $85.05 a barrel in the futures, after topping $93 on Thursday.Elon Musk's SpaceX is slated to start trading on the Nasdaq at the opening bell, with IPO shares priced at $135 each. The IPO plans to raise $75 billion, resulting in a $1.77 trillion market cap for the enterprise, which operates spacecraft and the Starlink satellite system.Asian exchanges traded sharply higher overnight in tech-led rallies, while European bourses tracked solidly north at midday.On the economic calendar is the University of Michigan consumer sentiment report for June at 10 m ET, followed by the weekly Baker Hughes domestic oil-and-gas rig count at 1 pm.In pre-market action, Bitcoin traded at $63,580, and 10-year US Treasuries offered 4.45%. Spot gold commanded $4,215 an ounce.

Dow JonesNasdaq CompositeS&P 500$SPCX
Asia Markets

Update: US Equity Indexes Jump, Crude Oil Sinks as Trump Hopeful of Signing Iran Peace Deal This Weekend

(Updates with index and price moves as well as other information influencing markets from the first paragraph.)US equity indexes surged while crude oil slumped with government bond yields on Thursday after President Donald Trump canceled planned attacks on Iran and said a peace deal could be signed with Tehran this weekend.The Dow Jones Industrial Average rose 1.9% to 50,848.75, the Nasdaq Composite jumped 2.5% to 25,809.66, and the S&P 500 advanced 1.8% to 7,394.30 at the close. All sectors except energy, consumer staples, and real estate advanced. Industrials, materials, technology, and consumer discretionary led the gainers.In a social media post, Trump said he is canceling the attacks planned for Iran on Thursday."Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening," Trump said in the post.A deal could be signed as soon as this weekend, possibly in Europe, Al Jazeera reported, citing Trump. The Strait of Hormuz will reopen as soon as the pact is signed, the news reported cited the US president as saying.However, Iranian officials haven't confirmed progress on the deal, and the Islamic Revolutionary Guards cast doubt on an earlier statement about the potential agreement, CNN reported. Iran has yet to comment on Trump's latest remarks or the claim that a deal has been agreed, Al Jazeera reported.Nevertheless, the front-month global benchmark North Sea Brent crude futures sank 4.6% to $88.86 per barrel, and the US West Texas Intermediate crude futures slumped 4.2% to $86.27 per barrel.US Treasury yields declined, with the 10-year down 8.3 basis points to 4.45% and the two-year lower by 7.1 basis points to 4.06%.In precious metals, gold futures jumped 2.4% to $4,232.1, and silver futures surged 4.1% to $67.40.In economic news, the core Producer Price Index, which excludes the more volatile food and energy prices, grew 0.4% in May, slower than the 0.5% gain expected in a Bloomberg-compiled poll and a 0.7% rise in April. Core PPI remained at 4.9% year-over-year but below the 5.4% consensus.Headline producer prices rose by 1.1% in May, the same as in April but above the forecast for a 0.7% gain. PPI jumped 6.5% year-over-year, the strongest pace since November 2022, from 5.7% in the previous month. Energy prices surged almost 11% in May following a 7.5% jump in April, according to a Stifel note."This is a Fed that has been willing to tolerate above-target inflation for years, so any notion of a temporary, or bringing back a favorite word, 'transitory' impact from higher energy prices will not be enough to force the Fed's hand," Stifel Chief Economist Lindsey Piegza said in the note.Initial jobless claims rose to 229,000 during the week ended June 6 from 225,000 in the prior week and above the 220,000 expected."It is more likely than not that this [claims data] is just seasonal noise," Jefferies Chief US Economist Thomas Simons said in a note.In company news, Space Exploration Technologies (SPCX) is pricing its initial public offering of about 555.6 million Class A shares at $135 each, the company said Thursday. Shares are expected to begin trading on the Nasdaq Global Select Market and Nasdaq Texas on Friday under the symbol "SPCX".

Dow JonesNasdaq CompositeS&P 500$SPCX
Update: Wall Street Logs Best Day in 2 Months as Trump Sparks Hope For Iran Deal
US Markets

Update: Wall Street Logs Best Day in 2 Months as Trump Sparks Hope For Iran Deal

(Updates with market moves at the end of the day and any new developments.)US equities rallied Thursday, pushing major indexes to their best day in more than two months, while oil prices tumbled after President Donald Trump signaled a breakthrough in talks with Iran to end the war.The Nasdaq closed 2.5% higher at 25,809.7, while the Dow Jones Industrial Average advanced 1.9% to 50,848.8. The S&P 500 climbed 1.8% to 7,394.3. All three indexes notched their biggest one-day percentage gains since April 8. Most sectors were in the green, led by materials and industrials, while energy saw the biggest drop.West Texas Intermediate crude oil was down 4% at $86.39 a barrel in Thursday late-afternoon trade, while Brent fell 4.4% to $89.03.Trump said on Thursday that the US "just made a great settlement of the war with Iran," subject to the "finalization of documents," CNBC reported.A deal is expected to be signed "over the next few days," he reportedly said.Earlier in the day, Trump canceled scheduled strikes against Iran following increased hostilities, including US strikes in response to Tehran shooting down an American Apache helicopter.The Organization of the Petroleum Exporting Countries lowered its global oil demand growth forecast for this year, but raised its expectations for 2027.US Treasury yields tumbled, with the 10-year rate last down nine basis points at 4.47% and the two-year rate falling 9.8 basis points to 4.06%.In economic news, US producer prices rose more than projected in May, matching the previous month's pace, while the annual increase reached the highest since late 2022 amid surging energy costs, government data showed.On Wednesday, consumer price data showed inflation accelerating to the fastest pace in about three years last month, reinforcing expectations that the Federal Reserve will keep interest rates on hold for some time."A fresh multiyear high in consumer and producer prices underscores the pain befallen on consumers resulting from disruptions in the global energy market," Stifel said in a note. "For the Fed, dangerously high levels of inflation suggest additional accommodation is off the table, at least for now."In company news, Eaton (ETN) will combine its mobility business with auto parts supplier Dana (DAN), creating a global powertrain entity valued at more than $10 billion. Eaton shares advanced 4.8%, while Dana slumped 15%.Oracle (ORCL) shares slumped 8.5%, the second-worst performer on the S&P 500. Late Wednesday, the cloud computing company's fiscal fourth-quarter results surpassed Wall Street's estimates, driven by rising demand for cloud infrastructure amid an artificial intelligence boom.UBS Securities said Thursday the sell-off in Oracle's shares could be due in part to its higher-than-expected capital expenditure outlook for the year.Gold was up 0.9% at $4,169.10 per troy ounce, while silver rose 1.9% to $66 per ounce.

Dow JonesNasdaq CompositeS&P 500$DAN$ETN$ORCL
International

US Equity Markets End Higher After Lower-Than-Expected Core Producer Price Inflation, US-Iran Agreement Progress

US equity indexes were higher on Wednesday after core producer price inflation grew less than forecast, and President Donald Trump said the US and Iran are about to sign a peace agreement following threats of bombing Iran in the evening.* Core producer price index, which excludes the more volatile food and energy prices, increased by 0.4% in May, slower than the 0.5% gain expected in a Bloomberg-compiled poll.* President Trump said in a Truth Social Post, "Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others."* July West Texas Intermediate crude oil fell $3.76 to settle at $86.27 per barrel, while August Brent crude, the global benchmark, was last seen down $4.24 at $88.86.* Applied Materials (AMAT) shares were up roughly 11%, among the top gainers on the Nasdaq and S&P 500, after the company expanded manufacturing and research & development operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand.* Oracle (ORCL) shares were down about 8.5%, the worst performer on the S&P 500, after the company said it plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale.

Dow JonesNasdaq CompositeS&P 500$AMAT$ORCL

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