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Surged alongside other US benchmarks after Washington and Tehran reached a framework to end their war and reopen the Strait of Hormuz.

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Commodities

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

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

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

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

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

Dow JonesNasdaq CompositeS&P 500
Japan

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

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

Dow JonesNasdaq CompositeS&P 500
Asia Markets

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

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

Dow JonesNasdaq CompositeS&P 500
Asia Markets

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

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

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

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

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

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

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

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

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

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

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

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

Update: US Equity Indexes Rise as Nvidia's Blowout Quarterly Results Lift Technology

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes rose after Nvidia's (NVDA) strong fiscal Q2 results boosted technology, helping outweigh declines in all other sectors.The Nasdaq Composite jumped 1.4% to 26,505.5, the S&P 500 climbed 0.7% to 7,732.1, and the Dow Jones Industrial Average advanced 0.3% to 53,635.9 after midday Thursday. All sectors, except technology, declined. Consumer staples and consumer discretionary were among the worst performers.Shares of Nvidia jumped 9.4%, among the top gainers across all three mainstream indexes, after the company posted fiscal Q2 earnings and revenue that more than doubled from a year earlier, and issued a fiscal Q3 revenue forecast above analysts' expectations.Nvidia offered a surprisingly strong fiscal 2028 revenue outlook, while its gross margin guidance provided clarity amid rising memory costs, Morgan Stanley said in a note.Salesforce (CRM) surged 22%, the leader on the S&P 500, the Nasdaq, and the Dow, after the company posted higher fiscal Q2 adjusted earnings and revenue, and lifted its fiscal 2027 guidance.CrowdStrike (CRWD) soared 19%, also one of the biggest gainers on the three indexes, after the company reported higher fiscal Q2 adjusted earnings and revenue, and raised its full-year net new annual recurring revenue outlook. This is a "blowout quarter as AI demand inflects across the platform," according to a Truist Securities note.Among companies with market capitalizations exceeding $200 billion each, all top 10 names by intraday returns were in the technology sector, according to data compiled by Finviz. Of those 10 firms, almost all were from either the software or semiconductor industries, with Salesforce leading the pack.Instead of succumbing to the threats of economic destruction by the Trump administration, Iran is touting its ability to inflict reciprocal pain, CNN reported."If the economic war continues, not a single drop of oil will be exported, neither through the Strait of Hormuz nor from anywhere in the Persian Gulf," Mohsen Rezaei, the leader of Iran's Supreme National Security Council, was cited as saying on X, according to CNN. "We will retaliate in an earthquake-like manner," he said later in a televised interview.Qatar's foreign ministry said Iran and Doha discussed an agreement to implement a "joint project" to clear mines from the Strait of Hormuz as well as "efforts to reduce escalation and create appropriate conditions for dialogue," according to a report from Al Jazeera, a Middle Eastern broadcaster.The front-month US West Texas Intermediate crude oil contract climbed 0.8% to $82.90 per barrel, and global benchmark North Sea Brent jumped 1.3% to $88.95 per barrel.In economic news, the advance international trade in goods deficit widened to $118.81 billion in July from $101.41 billion in June, according to data released by the US Census Bureau. This was a wider gap than the $100.5 billion deficit expected in a survey compiled by Bloomberg. Exports fell 2.9% in July while imports rose by 3.7%.US initial jobless claims fell to 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 in the previous week, in contrast with expectations for an increase to 208,000 in a survey of analysts compiled by Bloomberg. The four-week moving average rose by 1,250 to 205,500 after increasing in the previous week.The Fed's annual economic policy Symposium at Jackson Hole, Wyoming, is set to kick off on Thursday, with Chair Kevin Warsh scheduled to speak on Friday.Most US Treasury yields slipped after midday. The 10-year yield was steady at 4.66%, and the two-year was unchanged at 4.22%.

Dow JonesNasdaq CompositeS&P 500$CRM$CRWD$NVDA
Update: Equity Markets Rise Intraday Amid Tech Boost; Nvidia Rallies
US Markets

Update: Equity Markets Rise Intraday Amid Tech Boost; Nvidia Rallies

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday, led solely by the technology sector amid post-earnings rallies in shares of Nvidia (NVDA) and several other key players in the domain.The Nasdaq Composite was up 1.6% at 26,541.6 after midday Thursday, while the S&P 500 rose 0.8% to 7,737. The Dow Jones Industrial Average advanced 0.4% to 53,659.8. The three indexes finished the previous trading session lower, with the Dow snapping a three-day winning streak.Tech was the only sector in the green intraday Thursday, up 3.2%, while consumer staples saw the steepest decline.Nvidia shares jumped 9.5%, the second-biggest gain on the Dow, as the tech bellwether's fiscal second-quarter results more than doubled from a year earlier and topped Wall Street's expectations late Wednesday amid record data center sales. Nvidia expects fiscal 2028 revenue to grow about 70% year over year.The chipmaking giant offered a surprisingly strong sales outlook, while its gross margin guidance provided clarity amid rising memory costs, Morgan Stanley said in a note.Salesforce (CRM) shares soared 21% intraday Thursday, the best performer on both the S&P 500 and the Dow. The customer relationship management platform late Wednesday increased its full-year revenue guidance after delivering a fiscal second-quarter beat.CrowdStrike (CRWD) surged 19% intraday Thursday, the second-steepest rise on the S&P 500. The company late Wednesday raised its full-year net new annual recurring revenue amid increasing demand for cybersecurity solutions to address artificial intelligence risks. CrowdStrike reported better-than-expected fiscal second-quarter results.Hormel Foods (HRL) was the worst performer on the S&P 500 intraday Thursday, down 9.2%. The company lowered its fiscal 2026 sales outlook as it reported mixed third-quarter results, with the top-line pressured amid a challenging consumer environment.Marvell Technology (MRVL), Workday (WDAY), and Ulta Beauty (ULTA) are scheduled to report after the closing bell Thursday, along with others.US Treasury yields were little changed intraday, with the two- and 10-year yields at 4.22% and 4.67%, respectively.The Federal Reserve's annual economic policy symposium at Jackson Hole, Wyoming, was scheduled to kick off Thursday, with Chair Kevin Warsh slated to speak Friday.Markets are currently pricing in a 66% probability that the central bank's Federal Open Market Committee will keep its benchmark lending rate steady next month, with the remaining odds in favor of a 25-basis-point increase, according to the CME FedWatch tool.West Texas Intermediate crude oil edged up 0.6% to $82.76 a barrel intraday, while Brent rose 1.2% to $88.89.Iran and Oman are working on finalizing a deal that will see both countries share control of the Strait of Hormuz, Reuters reported. Qatari Prime Minister Sheikh Mohammed bin Jassim Al Thani met with Iranian Foreign Minister Abbas Araghchi Thursday and discussed the emerging Hormuz agreement between Tehran and Oman, CNN reported.Spot gold rose 0.5% to $4,612.27 per troy ounce, while silver gained 2.5% to $70.52 per ounce.

Dow JonesNasdaq CompositeS&P 500$CRM$CRWD$HRL$MRVL$NVDA$ULTA$WDAY
Asia Markets

Exchange-Traded Funds Rise as US Equities Advance After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were higher. Actively traded Invesco QQQ Trust (QQQ) added 1.2%.US equity indexes rose after Nvidia's (NVDA) strong fiscal Q2 results helped boost the technology sector.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each shed 0.5%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) rose 2.9%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) also edged higher.The State Street SPDR S&P Semiconductor (XSD) was up 1.9%, while iShares Semiconductor (SOXX) added 1.6%.FinancialThe State Street Financial Select Sector SPDR (XLF) shed 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.9%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 1.2%.CommoditiesCrude oil gained 0.6%, and the United States Oil Fund (USO) added 1.1%. Natural gas rose 2%, and the United States Natural Gas Fund (UNG) was up 1.4%.Gold on Comex gained 0.2%, and the State Street SPDR Gold Shares (GLD) was up 0.4%. Silver added 2.1%, and iShares Silver Trust (SLV) rose 1.9%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) shed 0.9%. The Vanguard Consumer Staples ETF (VDC) fell 1%, while iShares Dow Jones US Consumer Goods (IYK) lost 0.9%.The State Street Consumer Discretionary Select Sector SPDR (XLY) fell 0.8%. VanEck Retail ETF (RTH) was down 1.1%, and the State Street SPDR S&P Retail (XRT) declined 1.6%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) eased 0.6%. iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were also lower. IShares Biotechnology ETF (IBB) lost 0.1%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) fell 0.7%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) rose 2.6%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) added 2.5%, ProShares Ether ETF (EETH) was up 2.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) gained 1.7%.

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

Update: Technology Lifts US Equity Indexes After Nvidia's Blowout Quarterly Results

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes rose after Nvidia's (NVDA) strong fiscal Q2 results helped boost the technology sector.The Nasdaq Composite jumped 1.34% to 26,477.8, the S&P 500 climbed 0.6% to 7,722.09, and the Dow Jones Industrial Average advanced 0.3% to 53,614 after midday Thursday.Shares of Nvidia jumped 8.9%, among the top gainers across all three mainstream indexes, after the company posted fiscal Q2 earnings and revenue that more than doubled from a year earlier, and issued a fiscal Q3 revenue forecast above analysts' expectations.Nvidia offered a surprisingly strong fiscal 2028 revenue outlook, while its gross margin guidance provided clarity amid rising memory costs, Morgan Stanley said in a note.CrowdStrike (CRWD) soared 17%, also one of the biggest gainers on the three indexes, after the company reported higher fiscal Q2 adjusted earnings and revenue, and raised its fiscal 2027 revenue outlook.Among companies with market capitalizations exceeding $200 billion each, all top 10 names by intraday returns were in the technology sector, according to data compiled by Finviz. Of those 10 firms, almost all were from either the software or semiconductor industries.In the Middle East, about 6 million to 8 million barrels a day of crude oil are now being shipped through the Strait of Hormuz, Bloomberg reported, citing estimates from traders monitoring cargo activity. Flows slipped in July, when an onslaught of Iran's attacks on supertankers led to the breakdown of an interim ceasefire agreement between Washington and Tehran and heightened risks to navigation, the news report said, adding that flows remain at roughly half prewar levels.Qatar's Foreign Ministry said Iran and Qatar discussed an agreement to implement a "joint project" to clear mines from the Strait of Hormuz as well as "efforts to reduce escalation and create appropriate conditions for dialogue," according to a report from Al Jazeera, a Middle Eastern broadcaster.The front-month US West Texas Intermediate crude oil contract climbed 0.5% to $82.61 per barrel, and global benchmark North Sea Brent jumped 1% to $88.77 per barrel.

Dow JonesNasdaq CompositeS&P 500$CRWD$NVDA
Asia Markets

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Thursday Ahead of Fed's Jackson Hole Symposium

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.6%, and the actively traded Invesco QQQ Trust (QQQ) was 1% higher in Thursday's premarket activity, ahead of the US Federal Reserve's Jackson Hole Economic Policy Symposium.US stock futures were mixed, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures slipping 0.01%, and Nasdaq futures gaining 1% before the start of regular trading.US initial jobless claims fell to a level of 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 level in the previous week, in contrast with expectations for an increase to 208,000 in a survey of analysts compiled by Bloomberg as of 7:40 am ET.The US advance international trade in goods deficit widened to $118.81 billion in July from $101.41 billion in June, according to data released by the US Census Bureau.Weekly natural gas stocks will be released at 10:30 am ET, followed by the Kansas City Federal Reserve manufacturing reading for August at 11 am ET.In premarket activity, bitcoin was up by 1.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.4% higher, Ether ETF (EETH) advanced 1.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) increased 0.4%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.5%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.6%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.4%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was inactive.Dollar General (DG) shares were up more than 10% pre-bell after the company reported higher fiscal Q2 earnings and revenue.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 2%, the iShares US Technology ETF (IYW) was 0.8% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) advanced 2.3%, while the iShares Semiconductor ETF (SOXX) rose by 2.8%.Nvidia (NVDA) stock was 7% higher after the company posted overnight higher fiscal Q2 adjusted earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.5%, the Vanguard Health Care Index Fund (VHT) was up 0.6%, while the iShares US Healthcare ETF (IYH) slipped 0.01%. The iShares Biotechnology ETF (IBB) was 0.3% lower.Moderna (MRNA) stock was down more than 4% premarket after the company said it plans to offer $2 billion worth of convertible senior notes due 2032 in a private placement.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.8% higher.Hyperliquid Strategies (PURR) shares were up 4% in early hours activity after the company reported fiscal 2026 net income Thursday of $305.5 million.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.4%, while the Vanguard Industrials Index Fund (VIS) gained 0.1% and the iShares US Industrials ETF (IYJ) was inactive.GE Vernova (GEV) stock was up more than 2% before the opening bell after the company said it will deliver a new 400-kV gas-insulated switchgear substation in Chesterfield, England, for National Grid projects.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.1%.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.2% to reach $82.37 per barrel on the New York Mercantile Exchange. Natural gas was up 1.9% at $2.90 per 1 million British Thermal Units. The United States Oil Fund (USO) increased 0.6%, while the United States Natural Gas Fund (UNG) was 0.4% higher.Gold futures for November were down by 0.1% at $4,647.60 an ounce on the Comex. Silver futures gained 0.3% to reach $69.02 an ounce. SPDR Gold Shares (GLD) decreased 0.2%, and the iShares Silver Trust (SLV) was 0.2% lower.

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

Update: Nvidia Results, Semiconductor Rally Lift US Equity Futures Pre-Bell

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mostly higher pre-bell Thursday as Nvidia's (NVDA) earnings and an upswing in semiconductor-related stocks lifted market sentiment.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were up 0.4%, and Nasdaq futures were 1% higher.Nvidia was up 6.2% after the company reported fiscal Q2 earnings and revenue late Wednesday that more than doubled from a year ago.The Trump administration is considering sweeping new tariffs on semiconductors that could extend to products containing chips, including laptops, gaming consoles and data center servers, Politico reported, citing unnamed sources familiar with the matter.Marvell Technology (MRVL) is expected to report its fiscal Q2 earnings after the market closes. Analysts polled by FactSet expect adjusted earnings of $0.93 per share on revenue of $2.72 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.4% at $87.25 per barrel and US West Texas Intermediate crude 0.3% higher at $82.47 per barrel.The US advance international trade in goods deficit widened to $118.81 billion in July from $101.41 billion in June, compared with expectations to narrow to $100.5 billion in a survey compiled by Bloomberg. Initial jobless claims dropped to 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 level in the previous week, compared with expectations for an increase to 208,000.The Federal Reserve's annual three-day Economic Policy Symposium in Wyoming begins in the morning, with Fed Chief Kevin Warsh slated to deliver keynote remarks on Friday.In other world markets, Japan's Nikkei closed 0.2% lower, Hong Kong's Hang Seng ended 0.3% lower, and China's Shanghai Composite finished 1.1% higher. Meanwhile, the UK's FTSE 100 was down 0.4%, and Germany's DAX index was 0.4% higher in Europe's early afternoon session.In equities, stocks of Marvell Technology and Micron Technology (MU) were up 4% and 4.2%, respectively, as part of a wider rally in the semiconductor sector. CrowdStrike (CRWD) shares were up 9.5% after the company posted better-than-expected fiscal Q2 results and boosted its fiscal 2027 net new annual recurring revenue guidance. Salesforce (CRM) stock was 10% higher after the company reported late Wednesday higher fiscal Q2 financial results and raised its fiscal 2027 guidance.On the losing side, Moderna (MRNA) shares fell 3.5% after the company said it plans to offer $2 billion worth of convertible senior notes due 2032 in a private placement. HP (HPQ) stock was down 12% despite the company posting higher adjusted earnings and revenue for fiscal Q3 on late Wednesday.

Dow JonesNasdaq CompositeS&P 500$CRM$CRWD$HPQ$MRNA$MRVL$MU$NVDA
Stocks Mostly Up Pre-Bell as Traders Parse Nvidia Results, Await Fed Chair's Speech
US Markets

Stocks Mostly Up Pre-Bell as Traders Parse Nvidia Results, Await Fed Chair's Speech

US equity markets were mostly trending higher before the opening bell Thursday as traders digest Nvidia's (NVDA) latest financial results and prepare for Federal Reserve Chair Kevin Warsh's speech on Friday.The S&P 500 rose 0.4%, and the Nasdaq increased 1% in premarket activity, while the Dow Jones Industrial Average edged down 0.1%. The three main indexes finished the previous trading session lower, with the Dow snapping a three-day winning streak.Shares of Nvidia jumped 6.9% pre-bell as the tech bellwether's fiscal second-quarter results more than doubled from a year ago and topped Wall Street expectations amid record data center sales.CrowdStrike (CRWD) climbed 9.3% as the firm lifted its full-year net new annual recurring revenue outlook amid increasing demand for cybersecurity to address risks associated with the adoption of artificial intelligence. Salesforce (CRM) spiked 11% after raising its fiscal 2027 guidance.Dollar General (DG) shares gained nearly 13% after the discount retailer beat Wall Street estimates for the fiscal second quarter. Dollar Tree (DLTR) shares fell over 4% after the company's latest quarterly earnings.The Fed's annual economic policy Symposium at Jackson Hole, Wyoming, is set to kick off on Thursday, with Warsh scheduled to speak on Friday.Markets are currently pricing in a roughly 64% probability that the Federal Open Market Committee will keep its benchmark lending rate steady next month, with the remaining odds in favor of a 25-basis-point increase, according to the CME FedWatch tool.Government data on Wednesday showed that US inflation accelerated sequentially in July, keeping the Fed's preferred gauge for price increases well above its 2% target, while consumer spending growth eased."As long as the month-on-month rate continues to come in close to 0.2%, the annual rate of inflation will converge on 2% over time, but the question is how much more patience the Fed actually has," ING Bank said in a Wednesday report. "Markets continue to price a (25 basis point) rate hike before year-end while economists, in general, still favor an extended pause for policy rates."Treasury yields were up in premarket action, with the two- and 10-year rates each inclining 0.6 basis points to 4.23% and 4.67%, respectively.Iran and Oman are working on finalizing a deal that will see both countries share control of the Strait of Hormuz, Reuters reported.Tehran's Islamic Revolutionary Guard Corps reportedly told state news agency Tasnim that the US is obstructing the Iran-Oman deal, according to a CNBC report. Qatari Prime Minister Mohammed bin Abdulrahman bin Jassim bin Jaber Al Thani is reportedly traveling to Iran on Thursday as part of efforts to de-escalate tensions between Washington and Tehran.West Texas Intermediate crude oil dipped 0.1% to $82.17 a barrel before the open, while Brent nudged 0.4% higher to $88.18.Burlington Stores (BURL), Best Buy (BBY) and Hormel Foods (HRL) are scheduled to release their quarterly earnings before the bell, among others. Marvell Technology (MRVL), Workday (WDAY) and Ulta Beauty (ULTA) post their results after the markets close.Thursday's economic calendar has the international trade in goods data, as well as the retail and wholesale inventories reports, all for July, at 8:30 am ET, along with the weekly jobless claims bulletin. The Kansas City Fed manufacturing index for August is out at 11 am.Gold declined 0.6% to $4,654.79 per troy ounce, while bitcoin gained nearly 2% to $79,982.

Dow JonesNasdaq CompositeS&P 500$BBY$BURL$CRM$CRWD$DG$DLTR$HRL$MRVL$NVDA$ULTA$WDAY
Japan

Nvidia Results, Semiconductor Rally Lift US Equity Futures Pre-Bell

US equity futures were mostly higher pre-bell Thursday as Nvidia's (NVDA) earnings and an upswing in semiconductor-related stocks lifted market sentiment.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.9% higher.Nvidia was up 5.9% after the company reported fiscal Q2 earnings and revenue late Wednesday that more than doubled from a year ago.The Trump administration is considering sweeping new tariffs on semiconductors that could extend to products containing chips, including laptops, gaming consoles and data center servers, Politico reported, citing unnamed sources familiar with the matter.Marvell Technology (MRVL) is expected to report its fiscal Q2 earnings after the market closes. Analysts polled by FactSet expect adjusted earnings of $0.93 per share on revenue of $2.72 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.6% at $87.47 per barrel and US West Texas Intermediate crude 0.4% higher at $82.59 per barrel.The international trade in goods report for July, scheduled for release at 8:30 am ET, is expected to show the deficit narrowing to $100.5 billion from the revised value of $101.4 billion in the prior month, according to estimates compiled by Bloomberg. Initial jobless claims are projected to have increased to 208,000 in the week ended Aug. 22 from 206,000 in the previous week.The Federal Reserve's annual three-day Economic Policy Symposium in Wyoming begins in the morning, with Fed Chief Kevin Warsh slated to deliver keynote remarks on Friday.

Dow JonesNasdaq CompositeS&P 500$MRVL$NVDA
Asia Markets

Nvidia Results Undergird Wall Street Pre-Bell; Asia, Europe Mixed

Wall Street futures pointed moderately higher pre-bell Thursday, after semiconductor-industry bellwether Nvidia (NVDA) overnight reported fiscal Q2 results and outlooks that topped expectations.In the futures, the S&P 500 rose 0.4%, the Nasdaq inclined 1% and the Dow Jones was off 0.1%.Nvidia gained 7.1% before the open, while the VanEck Semiconductor ETF fund (SMH) traded up 3.1%.West Texas Intermediate crude oil traded up 0.2% at $82.41 in morning action.The Federal Reserve's annual three-day Economic Policy Symposium in Wyoming begins in the morning, with Fed Chief Kevin Warsh slated to deliver keynote remarks on Friday.Asian exchanges traded mixed and muted overnight though tech issues gained, while European bourses tracked moderately lower midday on the continent.On the economic calendar is the international trade in goods bulletin for July, the weekly jobless claims report, and the retail and wholesale inventories reports for July, at 8:30 am ET.The weekly EIA natural gas report files at 10:30 am.The Kansas City Fed Manufacturing Index for August logs at 11 am.In premarket action, Bitcoin traded at $79,648, and 10-year US Treasuries offered 4.67%. Spot gold commanded $4,577 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Update: US Equity Indexes Slip After Fed's Preferred Inflation Gauge Accelerates in July

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes slipped while most government bond yields edged up after the Federal Reserve's preferred inflation gauge swung higher in July.The Dow Jones Industrial Average fell 0.2% to 53,463.88, the S&P 500 edged less than 0.1% lower to 7,675.70, and the Nasdaq Composite declined less than 0.1% to 26,130.20. Industrials topped gainers while health, communication services and consumer discretionary led decliners.The headline personal consumption expenditure price index rose 0.2%, following a 0.1% slide in June, the Bureau of Economic Analysis reported Wednesday. That's above the consensus for a 0.1% gain in a Bloomberg-compiled survey, keeping the annual headline rate at 3.7%, which also exceeded the expected 3.6% print. The Fed's preferred core measure, which excludes food and energy, climbed 0.2% in July, as expected. That's faster than the June print of 0.1%. The annual core gauge held steady at 3.3%, as projected.Most US Treasury yields rose, with the 10-year yield up one basis point to 4.65%.The probability of the Federal Reserve extending its policy pause to December stood at 27% late Wednesday, according to the FedWatch tool, almost unchanged from a day ago. Currently, there is a 45% chance of interest rates moving up by 25 basis points to a 3.75% to 4% target rate by December and a 24% likelihood of the fed funds rate being raised by 50 basis points to 4% to 4.25% by the end of this year.On Tuesday, Boston Fed President Susan Collins said the central bank may have to tighten its monetary policy soon, unless inflation continues to cool.US gross domestic product rose 1.5% in Q2, unrevised from the advance estimate released last month, as expected in a survey compiled by Bloomberg. GDP climbed 2.1% in Q1. New orders for US durable goods advanced 1.1% in July, up from 0.5% in June, versus expectations for 0.5% in a survey compiled by Bloomberg.In geopolitical news, the Iranian military said it reached a revenue-sharing deal with Oman on the Strait of Hormuz, Bloomberg reported. "Agreements have been reached regarding each country's share of the strait's waters as well as Iran and Oman's share of its revenues," Bloomberg cited the Islamic Revolutionary Guard Corps' spokesman Hossein Mohebbi on the state-run Sepah News agency.However, Reuters cited the IRGC as saying the strait would not open unless the US met Tehran's conditions under an interim ceasefire agreement that was struck in June before unravelling. Those conditions include an end to the US blockade on Iranian ports, compensation and removal of sanctions, the news outlet said."We have our own tools, and we also know the game," Iran's Economy Minister Ali Madanizadeh said while referring to Tehran's experience circumventing US sanctions, according to a report from Al Jazeera, a Middle Eastern broadcaster. Tehran could potentially "go on the offensive" and was confident that many countries would effectively reject US President Donald Trump's threats to cut off all links with Iran, he added.The front-month US West Texas Intermediate crude oil contract retreated 0.7% to $81.82 per barrel, and global benchmark North Sea Brent declined 1.4% to $87.38 per barrel.In company news, Truist downgraded Nike (NKE) to hold from buy while adjusting its price target to $42 from $47. Shares of the sports footwear and apparel retailer were down 2.3%.Meta Platforms (META) has agreed to pay up to $16.68 billion to resolve claims brought by several US states that the tech giant used its platforms to "ensnare" youth and teens, according to a federal court filing.

Dow JonesNasdaq CompositeS&P 500$META$NKE$NVDA
Update: Equities Fall as Traders Assess Inflation Data
US Markets

Update: Equities Fall as Traders Assess Inflation Data

(Updates with market moves at the end of the day, and other changes, if any.)US stocks declined on Wednesday after a report showed the Federal Reserve's preferred inflation metric held steady well above its 2% target.The Dow Jones Industrial Average fell 0.2% to 53,463.88 following a three-day advance. The Nasdaq Composite edged down 0.1% to 26,130.20, while the S&P 500 settled just below the flatline at 7,675.70.Among sectors, healthcare saw the steepest decline, while industrials paced the gainers.The Fed's preferred inflation measure, which excludes food and energy, held steady at 3.3% year over year in July, as projected. The monthly metric climbed 0.2%."As long as the month-on-month rate continues to come in close to 0.2%, the annual rate of inflation will converge on 2% over time, but the question is how much more patience the Fed actually has," ING Bank said in a report. "Markets continue to price a (25 basis point) rate hike before year-end while economists, in general, still favor an extended pause for policy rates."Markets are currently pricing in a 64% probability that the Fed will keep its benchmark lending rate steady next month, with the remaining odds in favor of a 25-basis-point increase, according to the CME FedWatch tool.US Treasury yields were mostly higher, with the 10-year yield up one basis point at 4.65% and the two-year yield rising 0.9 basis point to 4.21%.In other economic news, US durable goods orders rose more than projected in July, led by strong demand for civilian aircraft, official data showed.Nvidia shares fell 1.6% after advancing by 2.2% in the previous session. The chipmaking giant released its fiscal second-quarter results after Wednesday's closing bell.In other company news, Intuit (INTU) shares fell 3.2%, among the notable declines on the S&P 500, after the tax and finance software maker overnight issued a soft fiscal 2027 outlook.Zoom Communications (ZM) shares slumped 7% as the video communication platform late Tuesday provided a downbeat earnings outlook for its fiscal third quarter following a second-quarter beat.Abercrombie & Fitch (ANF) shares surged about 36% after the apparel retailer raised its full-year outlook as tariff-related refund benefits helped the company post fiscal second-quarter results above Wall Street's estimates.West Texas Intermediate crude oil was down 0.6% at $81.90 a barrel in Wednesday late-afternoon trade, while Brent fell 1.3% to $87.43.Spot gold fell 1.4% to $4,594.49 per troy ounce, while silver lost 0.8% to $68.89 per ounce.

Dow JonesNasdaq CompositeS&P 500$ANF$INTU$NVDA$ZM
Japan

US Equity Markets End Lower as Bond Yields Rise After July's Inflation Rate Accelerates

US equity indexes ended lower Wednesday as most government bond yields rose after the Federal Reserve's preferred inflation gauge rose and investors awaited Nvidia's (NVDA) quarterly earnings.* The personal consumption expenditure price index rose by 0.2%, following a 0.1% decline in June, the Bureau of Economic Analysis said Wednesday. That's above the consensus for a 0.1% gain in a Bloomberg-compiled survey.* The Fed's preferred core measure, which excludes food and energy, climbed 0.2% in July, as expected. That's faster than the June print of 0.1%. The annual core gauge held steady at 3.3%, as projected.* US economic growth, measured by gross domestic product, rose by 1.5% in Q2, unrevised from the advance estimate released last month, as expected in a survey compiled by Bloomberg. GDP rose by 2.1% in Q1.* October West Texas Intermediate crude oil fell $0.40 to settle at $81.96 per barrel, while October Brent crude, the global benchmark, was last seen down $1.13 at $87.45.* Western Digital (WDC) shares were up roughly 4%, the second-best performer on the Nasdaq, after the company said Wednesday it executed private transactions to swap roughly $191 million of its 3% convertible senior notes maturing in 2028 for a mix of cash and stock.* GoDaddy (GDDY) shares were down about 4.3%, the third-worst performer on the S&P 500, after Wells Fargo downgraded the stock to underweight from equalweight and lowered its price target to $76 per share from $80.

Dow JonesNasdaq CompositeS&P 500$GDDY$NVDA$WDC

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