Nasdaq Composite

Update: US Equity Indexes Mixed as Benchmark Treasury Yield Jumps Back Above 5%

(Updates with index/price moves, macroeconomic data, and geopolitical news from the first paragraph.)US equity indexes closed mixed on Friday as government bond yields rebounded, with the 10-year yield hovering near its highest level in almost two decades.The Nasdaq Composite rose 0.4% to 26,522.55, the S&P 500 climbed 0.2% to 7,650.50, and the Dow Jones Industrial Average retreated 0.2% to 51,682.64. Materials, utilities and real estate led decliners at the close. Technology led the gainers."We now expect two more hikes from the [Federal Reserve], and our commodity analysts see energy markets facing a convergence of supply chain disruptions," Morgan Stanley said in a note after a 25 basis-point increase announced on Wednesday, the first policy tightening since 2023. "A higher expected path for oil prices means disinflation will be slower, and more restrictive policy also weighs on growth in 2027."Morgan Stanley expects two 25 basis-point rate increases in December and March to a target range of 4.25 to 4.50%. "They hold there through the end of next year."US Treasury yields rose after midday. The 10-year yield jumped 5.3 basis points to 5%, trading near its strongest level since 2007. The two-year yield climbed 6.2 basis points to 4.75%, a multi-month high.US equity funds recorded outflows for a fourth consecutive week as rising crude oil prices heightened inflation concerns and expectations of a Fed rate increase added to investor caution ahead of its policy decision, Reuters reported.The United Kingdom Maritime Trade Operations said an unknown projectile hit a tanker in the Strait of Hormuz, Al Jazeera, a Middle Eastern broadcaster, reported. Earlier, Iran's Islamic Revolutionary Guard Corps said it struck a Togo-flagged tanker as it attempted an "illegal passage" through the strait.The front-month US West Texas Intermediate crude oil contract slumped 2.5% to $99.39 per barrel, while the global benchmark North Sea Brent slipped 1.7% to $103.06 per barrel.In economic news, US industrial production unexpectedly held steady in August as manufacturing output fell after rising for seven straight months, Federal Reserve data showed. Industrial output was nearly flat sequentially last month, following a 0.2% gain in July, according to the Fed. The consensus was 0.3% for August in a Bloomberg-compiled survey.The Conference Board's measure of leading indicators slipped 0.1% in August, compared with expectations for a 0.1% gain in a Bloomberg-compiled poll and a 0.2% advance in July. The reading is the first monthly decline since March.In company news, Nucor (NUE) shares slumped 6%, one of the S&P 500's worst performers, after the company said late Thursday it expects Q3 earnings of $5.55 to $5.65 per diluted share, below analysts' consensus.

Dow JonesNasdaq CompositeS&P 500$AAPL$BRK.A$BRK.B$NUE

US Markets1d ago

Update: Wall Street Wavers, Logs Mixed Weekly Performance

(Updates with market moves at the end of the day, and other changes, if any.)US stocks struggled for direction on Friday as Wall Street turned in a mixed performance for the week, with traders pondering the path forward for inflation and interest rates.The Nasdaq Composite closed 0.4% higher at 26,522.54, while the S&P 500 advanced 0.2% to 7,650.50. The Dow Jones Industrial Average fell 0.2% to settle at 51,682.64. Among sectors, utilities led the laggards, while technology paced the gainers.This week, the Dow lost 1.7%, marking its third consecutive weekly decline. The Nasdaq gained 0.7%, while the S&P 500 ticked down 0.1%.Earlier in the week, the Federal Reserve raised its benchmark lending rate by 25 basis points in a unanimous vote to combat sticky inflation, marking its first hike since 2023. It signaled another increase later this year.Kansas City Fed President Jeffrey Schmid said Friday that energy prices are not the only factor driving inflation higher."Higher oil prices have been an important driver of elevated inflation, but it is important to acknowledge that our inflation problem is not just about energy," Schmid said. "Inflation excluding energy has also been running hot and a broad range of goods and services are showing price growth inconsistent with our price stability target."Higher oil prices have slowed the progress of US inflation toward the Fed's 2% target, Morgan Stanley said, as it raised its year-end projection for the central bank's preferred price gauge.Morgan Stanley expects two more Fed rate hikes of 25 basis points each, one in December and the other in March.Markets are now pricing in a 55% probability that the central bank will increase interest rates by 25 basis points in October, while the remaining odds point to a pause, according to the CME FedWatch tool.Treasury yields were higher, with the 10-year rate up 5.9 basis points at 5% and the two-year rate rising seven basis points to 4.76%.In other economic news, US industrial production unexpectedly held steady in August as manufacturing output fell after rising for seven straight months, Federal Reserve data showed.West Texas Intermediate crude oil was down 2.1% at $99.80 a barrel in Friday late-afternoon trade, while Brent dropped 1.6% to $103.19.In company news, Nucor (NUE) shares slumped 6.3%, the worst performer on the S&P 500, after the steelmaker overnight issued a downbeat earnings outlook for its fiscal third quarter.Apple (AAPL) shares edged down 0.3%. The tech giant's recently launched iPhone 18 is seeing "muted" initial wait times in major global markets, UBS Securities said in a note.Berkshire Hathaway (BRK.A, BRK.B) said Friday that Warren Buffett stepped down as chairman of the conglomerate, with his son Howard Buffett succeeding the 96-year old billionaire. The company's class A shares was flat, while its class B shares rose 0.1%.Spot gold advanced 0.9% to $4,379.66 per troy ounce, while silver gained 1.4% to $66.99 per ounce.

Dow JonesNasdaq CompositeS&P 500

US Equity Indexes Mixed This Week as Benchmark Treasury Yield Trades Near 19-Year High Following Fed Rate Increase

US equity indexes closed mixed this week after the Federal Reserve reaffirmed its commitment to controlling inflation and tightened policy for the first time since 2023. Crude oil prices remained elevated above $100.* The S&P 500 closed at 7,650.14 on Friday, versus 7,656.98 a week ago. The Nasdaq Composite stood at about 26,522.55, compared with 26,333.04 a week earlier. The Dow Jones Industrial Average ended at 51,681.93, versus 52,573.29 at the end of last week.* Communication, healthcare, and technology were among the top gainers, while utilities, financials, and real estate were among the steepest decliners.* The US Federal Reserve raised its benchmark lending rate by 25 basis points in a unanimous vote on Wednesday to combat sticky inflation, while signaling another hike later this year. The Federal Open Market Committee raised the federal funds rate to 3.75% to 4%, the first time it has tightened monetary policy since July 2023.* "After more than five years of significantly elevated inflation, a period which included a rate-cutting cycle, the new Warsh Fed appears to be taking a step in the right direction to combat dangerously high price pressures," Lindsey Piegza, Stifel chief economist, said in a note.* The 10-year yield rose 5.1 basis points to 5%, trading close to its highest since 2007.* The United Kingdom Maritime Trade Operations said an unknown projectile hit a tanker in the Strait of Hormuz, Al Jazeera, a Middle Eastern broadcaster, reported. Earlier, Iran's Islamic Revolutionary Guard Corps said it struck a Togo-flagged tanker as it attempted an "illegal passage" through the strait.* The front-month US West Texas Intermediate crude oil contract fell 1.2% to $100.67 per barrel, while the global benchmark North Sea Brent declined 1.2% to $103.57 per barrel late Friday.

US Equity Markets Mixed After Government Bond Yields Rise, Crude Oil Prices Fall

US equity indexes were mixed Friday as government bond yields rebounded, with the 10-year hovering near its highest level in almost two decades, while crude oil prices fell.* US equity funds recorded outflows for a fourth consecutive week as rising crude oil prices heightened inflation concerns and expectations of a Fed rate increase added to investor caution ahead of its policy decision, Reuters reported.* "We now expect two more hikes from the [Federal Reserve in the next 12 months], and our commodity analysts see energy markets facing a convergence of supply chain disruptions," Morgan Stanley said in a note.* October West Texas Intermediate crude oil fell $2.26 to settle at $99.65 per barrel, while November Brent crude, the global benchmark, was last seen down $1.64 at $103.18.* Nucor (NUE) shares were down 6.3%, the worst performer on the S&P 500, after the company said late Thursday it expects Q3 earnings of $5.55 to $5.65 per diluted share, below analysts' estimates.

Dow JonesNasdaq CompositeS&P 500

Update: US Equity Indexes Mixed as Benchmark Treasury Yield Rises 5%

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes traded mixed in the final leg of trading while government bond yields rebounded, with the 10-year hovering near its highest level in almost two decades.The Nasdaq Composite rose 0.2% to 26,460.5, and the S&P 500 edged up less than 0.1% to 7,642.1 ahead of Friday's close. The Dow Jones Industrial Average slipped 0.2% to 51,688.5. Materials and utilities led decliners."We now expect two more hikes from the [Federal Reserve], and our commodity analysts see energy markets facing a convergence of supply chain disruptions," Morgan Stanley said in a note after Wednesday's 25-basis-point rate increase. "A higher expected path for oil prices means disinflation will be slower, and more restrictive policy also weighs on growth in 2027."Morgan Stanley expects rate increases of the same magnitude in December and March, to a target range of 4.25 to 4.50%. "They hold there through the end of next year."US Treasury yields rose after midday. The 10-year yield jumped 5.5 basis points to 5%, trading near its strongest level since 2007. The two-year yield climbed 5.5 basis points to 4.75%, a multi-month high.The front-month US West Texas Intermediate crude oil contract fell 2.3% to $99.61 per barrel, while the global benchmark North Sea Brent declined 1.6% to $103.09 per barrel.

US Markets1d ago

Update: Equity Markets Fall Intraday; Treasury Yields Jump

(Updates with latest market prices and developments.)US benchmark equity indexes were lower intraday, while Treasury yields advanced, keeping traders anxious heading into the weekend.The Dow Jones Industrial Average was down 0.4% at 51,571.1 after midday Friday, while the S&P 500 fell 0.2% to 7,624.7. The Nasdaq Composite edged down 0.1% to 26,404.2. The three benchmarks rebounded Thursday following a three-day slump.Barring technology, all sectors were in the red intraday Friday, led by utilities.Treasury yields were higher, with the 10-year rate up 5.3 basis points at 5% and the two-year rate rising 4.9 basis points to 4.74%.Earlier in the week, the Federal Reserve raised its benchmark lending rate by 25 basis points in a unanimous vote to combat sticky inflation, marking its first hike since 2023, while signaling another increase could happen later this year.Kansas City Fed President Jeffrey Schmid said Friday that energy prices are not the only factor driving inflation higher."Higher oil prices have been an important driver of elevated inflation, but it is important to acknowledge that our inflation problem is not just about energy," Schmid said. "Inflation excluding energy has also been running hot, and a broad range of goods and services are showing price growth inconsistent with our price stability target."Higher oil prices have slowed the progress of US inflation toward the Fed's 2% target, Morgan Stanley said, as it raised its year-end projection for the central bank's preferred price gauge."Inflation is stickier: it still decelerates, but more slowly than before," the brokerage said in a note to clients. "Stickier inflation and tighter financial conditions mean less broadening out of the expansion."Markets are now pricing in a 58% probability that the central bank will increase interest rates by 25 basis points in October, up from 55% Thursday, according to the CME FedWatch tool. The odds favoring a Fed pause fell to 42% from 45%.West Texas Intermediate crude oil was down 1.1% at $100.84 a barrel intraday Friday, while Brent dropped 1.2% to $103.59.In company news, Nucor (NUE) shares slumped 6.3%, the worst performer on the S&P 500, after the steelmaker overnight issued a downbeat earnings outlook for its fiscal third quarter.Apple (AAPL) shares were down 0.5% intraday Friday. The tech giant's recently launched iPhone 18 is seeing "muted" initial wait times in major global markets, UBS Securities said in a note. This likely suggests consumers are delaying purchase decisions for the company's first foldable smartphone, the iPhone Duo, according to the brokerage.Berkshire Hathaway (BRK.A, BRK.B) said Friday that Warren Buffett stepped down as chairman of the conglomerate, with his son Howard Buffett succeeding the 96-year old billionaire. The company's class A and B shares were little changed intraday.Spot gold advanced 1% to $4,383.57 per troy ounce, while silver gained 1.7% to $67.20.

Dow JonesNasdaq CompositeS&P 500$AAPL$BRK.A$BRK.B$NUE

Update: US Equity Indexes Decline as Benchmark Treasury Yield Heads Back Toward Highest in Almost 19 Years

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes fell amid a broad-based retreat as government bond yields rebounded, with the 10-year hovering near its highest level in almost two decades.The Nasdaq Composite slipped less than 0.1% to 26,407.2, the S&P 500 declined 0.1% to 7,627.5, and the Dow Jones Industrial Average retreated 0.4% to 51,587.1 after midday Friday. All sectors except technology retreated. Materials and utilities led decliners.US Treasury yields rose after midday. The 10-year yield jumped 5.1 basis points to 5%, trading near its strongest level since 2007. The two-year yield climbed 4.9 basis points to 4.74%, a multi-month high."We now expect two more hikes from the [Federal Reserve], and our commodity analysts see energy markets facing a convergence of supply chain disruptions," Morgan Stanley said in a note. "A higher expected path for oil prices means disinflation will be slower, and more restrictive policy also weighs on growth in 2027."Morgan Stanley expects two 25 basis-point increases in December and March to a target range of 4.25 to 4.50%. "They hold there through the end of next year."US equity funds recorded outflows for a fourth consecutive week as rising crude oil prices heightened inflation concerns and expectations of a Fed rate increase added to investor caution ahead of its policy decision, Reuters reported.The United Kingdom Maritime Trade Operations said an unknown projectile hit a tanker in the Strait of Hormuz, Al Jazeera, a Middle Eastern broadcaster, reported. Earlier, Iran's Islamic Revolutionary Guard Corps said it struck a Togo-flagged tanker as it attempted an "illegal passage" through the strait.The front-month US West Texas Intermediate crude oil contract fell 1.2% to $100.67 per barrel, while the global benchmark North Sea Brent declined 1.2% to $103.57 per barrel.Gold futures rose 0.6% to $4,424.40, and silver futures jumped 1.6% to $67.19.In company news, Nucor (NUE) shares slumped 6.3%, the worst performer on the S&P 500, after the company said late Thursday it expects Q3 earnings of $5.55 to $5.65 per diluted share, below analysts' consensus.

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

Exchange-Traded Funds, US Equities Lower After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) eased 0.1%.US equity indexes fell as government bond yields rebounded, with the 10-year hovering around its highest in almost two decades.EnergyIShares US Energy ETF (IYE) slid 0.4% and the State Street Energy Select Sector SPDR (XLE) dipped 0.2%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was flat; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) shed 0.1% each.The State Street SPDR S&P Semiconductor (XSD) rose 0.3%, and iShares Semiconductor (SOXX) added 1%.FinancialThe State Street Financial Select Sector SPDR (XLF) was down 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 0.2%.CommoditiesCrude oil dropped 1.1%, and the United States Oil Fund (USO) was down 0.7%. Natural gas gained 0.6%, and the United States Natural Gas Fund (UNG) moved 1.1% higher.Gold on Comex rose 0.4%, and the State Street SPDR Gold Shares (GLD) increased 0.8%. Silver was up 1.6%, and iShares Silver Trust (SLV) gained 2%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) slipped 0.4% and the Vanguard Consumer Staples ETF (VDC) eased 0.3%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was down 0.4%. VanEck Retail ETF (RTH) fell 0.1%, and the State Street SPDR S&P Retail (XRT) dipped 0.5%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) fell 0.4%, while iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) declined 0.5% each. IShares Biotechnology ETF (IBB) was down 1.1%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) fell 0.1%. Vanguard Industrials Index Fund (VIS) was down 0.2% and iShares US Industrials (IYJ) shed 0.2%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) added 5.4%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) was 5.8% higher, ProShares Ether ETF (EETH) was up 6.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.

Update: US Equity Indexes Fall as Benchmark Treasury Yield Jumps Back Above 5%

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes fell as government bond yields rebounded, with the 10-year hovering around its highest in almost two decades.The Nasdaq Composite slipped 0.1% to 26,383.5, the S&P 500 declined 0.2% to 7,619.6, and the Dow Jones Industrial Average retreated 0.4% to 51,563.9 after midday Friday.US Treasury yields rose after midday. The 10-year yield jumped 5.1 basis points to 5%, trading near its strongest level since 2007. The two-year yield climbed 5.1 basis points to 4.74%, a multi-month high.The front-month US West Texas Intermediate crude oil contract rose 0.2% to $101.70 per barrel, while the global benchmark North Sea Brent slipped 0.5% to $104.28 per barrel.In company news, Nucor (NUE) shares slumped 6%, one of the worst performers on the S&P 500, after the company said late Thursday it expects Q3 earnings of $5.55 to $5.65 per diluted share, falling short of analysts' consensus.

Dow JonesNasdaq CompositeS&P 500$BP$CAVA$FAS$FAZ$GLD$GOOG$GOOGL$HSBC$IBB$IGM$IYE$IYH$IYJ$IYK$IYW$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$WCN$XENE$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD

Commodities1d ago

Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Friday as Tech Rally Continues

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was 0.03% lower and the actively traded Invesco QQQ Trust (QQQ) was 0.2% higher in Friday's premarket activity amid technology gains and the Federal Reserve's rate hike.US stock futures were mixed, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures slipping 0.03%, and Nasdaq futures gaining 0.4% before the start of regular trading.State unemployment and leading indicators data for August are due to be released at 10 am ET.Federal Reserve Vice Chair for Supervision Michelle Bowman and Kansas City Fed President Jeffrey Schmid are slated to speak Friday.In premarket activity, bitcoin was up by 1.9%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2% higher, Ether ETF (EETH) advanced 2.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) advanced 0.5%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.2%, the Vanguard Health Care Index Fund (VHT) was 0.2% lower, while the iShares US Healthcare ETF (IYH) gained 1%. The iShares Biotechnology ETF (IBB) was down 0.1%.Xenon Pharmaceuticals (XENE) shares were down 22% after the company paused enrollment of new patients in studies for major depressive disorder and bipolar depression.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was flat, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was down 0.2%, and the iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was flat.CAVA (CAVA) shares were up more than 3% pre-bell after the company said its board authorized a plan for the repurchase of up to $100 million of its outstanding common stock.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.1%, the iShares US Technology ETF (IYW) was 0.8% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.6%, while the iShares Semiconductor ETF (SOXX) rose by 0.2%.Alphabet (GOOG, GOOGL) shares were up 2% in premarket activity after the company said its Waymo unit intends to open its fully autonomous ride-hailing service to riders in Singapore in 2028.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.3% higher.HSBC (HSBC) shares were down 1% after the Australian reported that National Australia Bank is considering the acquisition of HSBC's Australian retail deposit business.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.01%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were flat.Waste Connections (WCN) stock was up more than 1% before the opening bell after UBS upgraded it to buy from neutral.EnergyThe iShares US Energy ETF (IYE) was down 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was 0.6% lower.BP (BP) stock was down more than 1% after Osaka Gas said BP Developments Australia has agreed to sell a 5% stake in the Browse liquefied natural gas project in Western Australia to Osaka Gas Browse.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.2% to reach $102.12 per barrel on the New York Mercantile Exchange. Natural gas was up 0.3% at $2.91 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.2%, while the United States Natural Gas Fund (UNG) was 0.4% higher.Gold futures for November retreated by 0.04% to $4,397.80 an ounce on the Comex. Silver futures rose 1.1% to $66.83 an ounce. SPDR Gold Shares (GLD) was up by 0.6%, and the iShares Silver Trust (SLV) rose by 2%.

Dow JonesNasdaq CompositeS&P 500$APO$BP$HSBC$LMT$NUE$RTX

Update: US Equity Futures Mixed Pre-Bell as Major Averages Rebound After Fed-Induced Sell-Off

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mixed pre-bell Friday as the major stock averages posted a rebound after a decline following Wednesday's first Federal Reserve interest rate hike since 2023.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.1% higher.The US State Department has approved a potential $24.3 billion sale of 48 Lockheed Martin (LMT) F-35 fighter jets and related equipment to Saudi Arabia, as the Middle Eastern nation faces escalating attacks from Iran-backed Houthi forces. Lockheed Martin and RTX's (RTX) Pratt & Whitney would be the main contractors, according to a congressional notification issued Thursday.Oil prices were mixed, with front-month global benchmark North Sea Brent crude down 1% at $103.76 per barrel and US West Texas Intermediate crude 0.3% higher at $102.23 per barrel.The August industrial production report, due at 9:15 am ET, is projected to show a 0.3% gain following a 0.2% increase in the prior month, according to estimates compiled by Bloomberg.August's leading indicators data is scheduled to be released 10 am ET.Federal Reserve Governor Michelle Bowman, and Kansas City President Jeff Schmid are slated to speak on Friday.In other world markets, Japan's Nikkei closed 1.4% higher, Hong Kong's Hang Seng ended 0.6% higher, and China's Shanghai Composite finished 0.9% higher. Meanwhile, the UK's FTSE 100 was down 1.2%, and Germany's DAX index was 1.2% lower in Europe's early afternoon session.In equities, Apollo Global Management (APO) stock was up 2.9% after a Reuters report that the company is exploring either a full or partial sale of Energos Infrastructure that could value the floating liquefied natural gas infrastructure provider at more than $3 billion.On the losing side, HSBC (HSBC) shares fell 1.3% after a report from the Australian that the National Australia Bank is considering the acquisition of HSBC's Australian retail deposit business. BP (BP) stock was down 1.6% after Osaka Gas said that BP Developments Australia has agreed to sell a 5% stake in the Browse liquefied natural gas project in Western Australia to Osaka Gas Browse. Nucor (NUE) shares were 2.7% lower after the company said late Thursday it expects Q3 earnings of $5.55 to $5.65 per diluted share, falling short of analysts' consensus.

Dow JonesNasdaq CompositeS&P 500$LMT$RTX

US Equity Futures Slightly Higher Pre-Bell as Major Averages Rebound After Fed-Induced Sell-Off

US equity futures were slightly higher pre-bell Friday as the major stock averages posted a rebound after a decline following Wednesday's first Federal Reserve interest rate hike since 2023.Dow Jones Industrial Average futures were flat, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.3% higher.The US State Department has approved a potential $24.3 billion sale of 48 Lockheed Martin (LMT) F-35 fighter jets and related equipment to Saudi Arabia, as the Middle Eastern nation faces escalating attacks from Iran-backed Houthi forces. Lockheed Martin and RTX's (RTX) Pratt & Whitney would be the main contractors, according to a congressional notification issued Thursday.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.4% at $103.32 per barrel and US West Texas Intermediate crude 0.4% lower at $101.51 per barrel.The August industrial production report, due at 9:15 am ET, is projected to show a 0.3% gain following a 0.2% increase in the prior month, according to estimates compiled by Bloomberg.August's leading indicators data is scheduled to be released 10 am ET.Federal Reserve Governor Michelle Bowman, and Kansas City President Jeff Schmid are slated to speak on Friday.

US Markets1d ago

Stocks Rise Pre-Bell as Investors Assess Fed Rate Outlook

The benchmark US stock measures were trending higher before the open Friday as investors continued to assess the Federal Reserve's policy path ahead following its latest interest-rate hike.The S&P 500 rose 0.2%, the Dow Jones Industrial Average edged up 0.1% and the Nasdaq added 0.4% in premarket activity. The three main indexes finished Thursday trading higher, snapping a three-day losing streak.Earlier in the week, the Fed raised its benchmark lending rate by 25 basis points in a unanimous vote to combat sticky inflation, while signaling another hike could happen later this year.Deutsche Bank expects the Fed to deliver another 50 basis points of tightening through quarter-point rate increases in December and March, strategist Matthew Luzzetti said in a note emailed toon Thursday. Macquarie Group also expects another 50 basis points of tightening, comprising quarter-point rate increases in December and the first quarter of 2027."After more than five years of significantly elevated inflation, a period which included a rate cutting cycle, the new Warsh Fed appears to be taking a step in the right direction to combat dangerously high price pressures," Stifel Chief Economist Lindsey Piegza said in a Thursday report. "The (Federal Open Market Committee) appears sincere in its commitment to restore price stability."Markets are pricing in a 55% probability that the central bank will increase interest rates by 25 basis points in October, with the remaining odds in favor of a pause, according to the CME FedWatch tool.Treasury yields were rising, with the two-year rate gaining 2.3 basis points to 4.71% and the 10-year rate increasing 1.2 basis points to 4.96%.Fed Vice Chair for Supervision Michelle Bowman, a permanent voting member of the central bank's policy-setting committee, is scheduled to speak at 9:30 am ET, while Kansas City Fed President Jeff Schmid is slated to speak at 11:45 am.Friday's economic calendar has the industrial production report for August at 9:15 am, while the weekly Baker Hughes oil-and-gas rig count is out at 1 pm.West Texas Intermediate crude oil dipped 0.5% to $101.45 a barrel, while Brent declined 1.4% to $103.41.The US State Department approved a potential $24.3 billion sale of 48 Lockheed Martin (LMT) F-35 fighter jets and related equipment to Saudi Arabia, CNBC reported.The approval comes as Yemen's Houthi rebels ramp up their attacks on the Kingdom. The Iran-backed military group recently launched drone attacks on Saudi Arabia's East-West oil pipeline, resulting in its shutdown.Berkshire Hathaway's (BRK.A, BRK.B) class A and B shares were down pre-bell after the multinational conglomerate announced that Warren Buffett will step down as chairman, effective immediately, with his son Howard Buffett to succeed him.Alphabet's (GOOG, GOOGL) class A and C stock were up more than 2% each, while DraftKings (DKNG) rebounded 0.5% following a 7.6% drop at the close of Thursday. Steel Dynamics (STLD) decreased 1.8% as the steel producer issued a downbeat third-quarter earnings outlook.Gold nudged 0.5% higher at $4,419 per troy ounce, while bitcoin advanced 2.2% to $78,199.

Dow JonesNasdaq CompositeS&P 500$BRK.A$BRK.B$DKNG$GOOG$GOOGL$STLD