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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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Japan

Update: US Equity Indexes Trade Mixed in Final Leg as Investors Await Nvidia's Earnings

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes traded mixed while most government bond yields rose after the Federal Reserve's preferred inflation gauge accelerated in July and as investors awaited AI bellwether Nvidia's (NVDA) quarterly earnings.The Dow Jones Industrial Average edged 0.1% lower to 53,501.1 ahead of Wednesday's close. The S&P 500 clawed up 0.1% to 7,684.1, and the Nasdaq Composite was steady at 26,157.8.In economic news, the headline personal consumption expenditure price index rose by 0.2%, following a 0.1% decline 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 2.1 basis points to 4.66% and the two-year climbed two basis points to 4.22%.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 slipped 0.5% to $81.96 per barrel, and global benchmark North Sea Brent declined 1.3% to $87.45 per barrel.

Dow JonesNasdaq CompositeS&P 500$NVDA
Update: Equities Fall Intraday After Inflation Report; Nvidia Earnings On Deck
US Markets

Update: Equities Fall Intraday After Inflation Report; Nvidia Earnings On Deck

(Updates with latest market prices and developments.)US benchmark equity indexes drifted lower intraday as traders parsed the latest inflation data while awaiting technology bellwether Nvidia's (NVDA) financial results.The Nasdaq Composite and the Dow Jones Industrial Average were down 0.2% each at 26,093.1 and 53,460.6, respectively, after midday Wednesday. The S&P 500 edged down 0.1% to 7,671.6. The three indexes finished Tuesday trading higher, with the Dow rising for a third consecutive session.Among sectors, consumer discretionary and healthcare saw the steepest declines intraday Wednesday, while industrials paced the gainers.US inflation accelerated sequentially in July, keeping the Federal Reserve's preferred gauge for price increases well above its 2% target, while consumer spending growth eased, official data showed.US Treasury yields were mostly higher intraday, with the 10-year yield up 2.5 basis points at 4.66% and the two-year yield rising 2.2 basis points to 4.23%.Markets are currently pricing in a 60% 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.Nvidia shares were down 1.3% intraday, following a 2.2% increase in the previous session. The chipmaking giant is scheduled to report its fiscal second-quarter results after the closing bell Wednesday. The current consensus on FactSet is for non-GAAP earnings of $2.09 a share on revenue of $92.27 billion.In a recent note to clients, Morgan Stanley said Nvidia is expected to post strong second-quarter results, though investors are likely to focus more on its longer-term growth drivers.CrowdStrike (CRWD), Salesforce (CRM), Synopsys (SNPS), HP (HPQ) and Urban Outfitters (URBN) are also scheduled to report results in the after-hours, along with others.In other company news, Intuit (INTU) shares fell 3.5% intraday, among the worst performers on the S&P 500, after the tax and finance software maker overnight issued a soft fiscal 2027 outlook.Zoom Communications (ZM) shares slumped 6.4% 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 31% intraday Wednesday 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 up 0.6% at $82.81 a barrel, while Brent advanced 0.3% to $88.80.The Iranian military said it reached a revenue-sharing deal with Oman on the Strait of Hormuz, the world's most important chokepoint for crude flows, Bloomberg News reported.Spot gold fell 1.4% to $4,593.34 per troy ounce, while silver lost 1.1% to $68.73 per ounce.

Dow JonesNasdaq CompositeS&P 500$ANF$CRM$CRWD$HPQ$INTU$NVDA$SNPS$URBN$ZM
Asia Markets

Update: US Equity Indexes Slip as Investors Await Nvidia's Earnings After July's PCE Inflation Rate Accelerates

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes fell while most government bond yields rose after the Federal Reserve's preferred inflation gauge accelerated sequentially in July and as investors awaited AI bellwether Nvidia's (NVDA) quarterly earnings after the bell.The Nasdaq Composite declined 0.2% to 26,074.5, the Dow Jones Industrial Average fell 0.3% to 53,442.1 and the S&P 500 edged 0.1% lower to 7,670.6 after midday Wednesday. Industrials and energy topped gainers while consumer discretionary and communication services led decliners.In economic news, the headline personal consumption expenditure price index rose by 0.2%, following a 0.1% decline 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.The probability of the Federal Reserve extending its policy pause to December stood at 28% by Wednesday afternoon, 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.Most US Treasury yields rose. The 10-year yield rose 2.5 basis points to 4.66% and the two-year climbed 2.2 basis points to 4.23%.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. New orders for US durable goods rose 1.1% in July, up from 0.5% in the previous month, compared with expectations of a smaller increase of 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 Wednesday as telling the state-run Sepah News agency.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.The front-month US West Texas Intermediate crude oil contract gained 0.5% to $82.76 per barrel, and global benchmark North Sea Brent rose 0.1% to $88.68 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 2.1%, the Dow's steepest decline.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
Asia Markets

Exchange-Traded Funds Fall as US Equities Decline After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) eased 0.2%.US equity indexes fell while most government bond yields rose after the Federal Reserve's preferred inflation gauge accelerated sequentially in July and as investors awaited Nvidia's (NVDA) quarterly earnings post-bell.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 1%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) rose 0.2%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) edged lower.The State Street SPDR S&P Semiconductor (XSD) was down 0.2%, while iShares Semiconductor (SOXX) slipped 0.1%.FinancialThe State Street Financial Select Sector SPDR (XLF) shed 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.3%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 0.4%.CommoditiesCrude oil gained 0.6%, and the United States Oil Fund (USO) added 1.8%. Natural gas rose 3.8%, and the United States Natural Gas Fund (UNG) was up 2.6%.Gold on Comex dipped 1%, and the State Street SPDR Gold Shares (GLD) shed 1.6%. Silver fell 1.1%, and iShares Silver Trust (SLV) eased 1.3%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) shed 0.1%. The Vanguard Consumer Staples ETF (VDC) fell 0.2%, while iShares Dow Jones US Consumer Goods (IYK) lost 0.1%.The State Street Consumer Discretionary Select Sector SPDR (XLY) fell 0.9%. VanEck Retail ETF (RTH) was down 0.6%, and the State Street SPDR S&P Retail (XRT) rose 0.4%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) dropped 0.8%. iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were also lower. IShares Biotechnology ETF (IBB) lost 0.3%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) gained 1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 1.1%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) dipped 1.2%, ProShares Ether ETF (EETH) was down 0.5%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) dropped 1%.

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 Decline After July PCE Inflation Rate Rises

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes fell while most government bond yields rose after the Federal Reserve's preferred inflation gauge accelerated sequentially in July and as investors awaited Nvidia's (NVDA) quarterly earnings post-bell.The Nasdaq Composite slipped 0.2% to 26,101.2, the Dow Jones Industrial Average fell 0.3% to 53,439.5 and the S&P 500 edged 0.1% lower to 7,667.3 after midday Wednesday. Energy and industrials topped gainers while consumer discretionary and communication services led decliners.In economic news, the headline personal consumption expenditure price index rose by 0.2% in July, following a 0.1% decline in the prior month, 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%, 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. The 10-year yield rose 1.5 basis points to 4.65% and the two-year climbed 1.2 basis points to 4.22%.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 Wednesday as telling the state-run Sepah News agency.The front-month US West Texas Intermediate crude oil contract gained 0.9% to $83.08 per barrel, and global benchmark North Sea Brent rose 0.5% to $89.05 per barrel.

Dow JonesNasdaq CompositeS&P 500$NVDA
Commodities

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Wednesday Amid Inflation Data Release

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.1%, and the actively traded Invesco QQQ Trust (QQQ) was 0.3% lower in Wednesday's premarket activity as July PCE inflation came in above expectations.US stock futures were mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures gaining 0.03%, and Nasdaq futures slipping 0.2% before the start of regular trading.Mortgage applications fell by 1% in the week ended Aug. 21, a reflection of slightly higher average 30-year fixed mortgage rates, according to Mortgage Bankers Association data released Wednesday.Personal income rose by 0.4% in July following June's 0.2% gain, larger than the expected 0.2% gain in a survey conducted by Bloomberg as of 6:10 am ET.New orders for US durable goods rose by 1.1% in July following an increase of 0.5% in the previous month, compared with the expectations for a smaller increase of 0.5% in a survey compiled by Bloomberg.Weekly crude oil stocks data will be released at 10:30 am ET.Richmond Fed President Tom Barkin is slated to speak on Wednesday.In premarket activity, bitcoin was down by 0.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.7% lower, Ether ETF (EETH) advanced 0.03%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated 0.01%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.2%, the iShares US Technology ETF (IYW) was 0.3% lower, and the iShares Expanded Tech Sector ETF (IGM) was up 0.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 1.8% higher, while the iShares Semiconductor ETF (SOXX) declined by 0.1%.Intuit (INTU) shares were down more than 9% after the company's outlook for fiscal Q1 and fiscal 2027 missed analyst expectations.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.1%, the Vanguard Health Care Index Fund (VHT) advanced 0.8%, while the iShares US Healthcare ETF (IYH) declined 0.9%. The iShares Biotechnology ETF (IBB) was 0.1% higher.Summit Therapeutics (SMMT) stock was up more than 9% premarket after the company said late Tuesday its partner Akeso reported "positive" results from a phase 3 trial of ivonescimab plus chemotherapy, compared with durvalumab plus chemotherapy as a first-line treatment of advanced biliary tract cancer.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.5%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.03% lower.Trupanion (TRUP) shares were down 4% in premarket activity after Piper Sandler downgraded the company to neutral from overweight and cut its price target to $32 from $45.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.6%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.1% higher.JM Smucker (SJM) shares were up more than 3% pre-bell after the company reported higher fiscal Q1 adjusted earnings and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.6%, while the Vanguard Industrials Index Fund (VIS) was inactive and the iShares US Industrials ETF (IYJ) was flat.SFL (SFL) stock was up more than 2% before the opening bell after the company posted higher preliminary Q2 basic earnings and operating revenue.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.7%.Eni (E) stock was down more than 1% before market open after losing 2% in the prior session. The company said Tuesday it is working with project partners BP (BP) and Egyptian Petroleum to reach a final investment decision in a few months regarding the major gas discovery Denise West in Egypt's Temsah Concession. BP stock was 1.7% lower.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 2.5% to $80.32 per barrel on the New York Mercantile Exchange. Natural gas was up 2.5% at $2.84 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased 1.1%, while the United States Natural Gas Fund (UNG) was 1.1% higher.Gold futures for November were down by 0.3% at $4,682.80 an ounce on the Comex. Silver futures gained 0.2% to reach $69.60 an ounce. SPDR Gold Shares (GLD) decreased 1%, and the iShares Silver Trust (SLV) was 0.3% lower.

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

Update: US Equity Futures Mostly Flat Pre-Bell as Traders Weigh Inflation Data, Await Nvidia Results

(Updates with economic data, recent oil price changes, world markets' overview, and corporate stock movements.)US equity futures were mostly flat pre-bell Wednesday as traders awaited a key inflation report and AI bellwether Nvidia's (NVDA) financial results.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were flat, and Nasdaq futures were 0.2% lower.President Donald Trump said that the US Navy has told him that all mines have been removed or detonated within the Strait of Hormuz. "There is a Zero Tolerance policy on mine placement in full force and effect," Trump said in a post on Truth Social.Nvidia is expected to report its fiscal Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $2.09 per share on revenue of $92.27 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.3% at $85.25 per barrel and US West Texas Intermediate crude 2.5% lower at $80.27 per barrel.The July core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, released at 8:30 am ET, increased to 0.2% from a pace of 0.1% in the prior month and the expected 0.2% gain in estimates compiled by Bloomberg. Durable goods new orders rose 1.1% in July after a 0.5% gain in the prior month, compared with expectations for a 0.5% increase.Personal income rose by 0.4% in July following June's 0.2% gain, larger than the expected 0.2% gain. The second estimate for Q2 GDP came in at 1.5%, unchanged from the advance print and meeting expectations.Federal Reserve Richmond President Thomas Barkin is slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 0.6% higher, Hong Kong's Hang Seng ended 0.6% higher, and China's Shanghai Composite finished 0.6% higher. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, Intuit (INTU) shares fell 9.9% after the company's outlook for fiscal Q1 and the full financial year missed market expectations. Boston Scientific (BSX) stock was down 5.8% after the company said it has identified a cybersecurity incident that affected certain IT systems and led to global disruption in operations.On the winning side, Meta Platforms (META) shares rose 1.9% after Bloomberg reported that the company and 29 state attorneys general have discussed a potential settlement of a case in which the technology giant is accused of designing Facebook and Instagram to addict teenagers. Uber Technologies (UBER) stock was up 1.1% after multiple media outlets reported that the company is launching a new safety feature that allows linked parents and guardians to view a live video stream of their teenager's ride. Summit Therapeutics (SMMT) shares were 14% higher after the company said its partner Akeso reported "positive" results from a phase 3 trial of ivonescimab plus chemotherapy, compared with durvalumab plus chemotherapy as a first-line treatment of advanced biliary tract cancer.

Dow JonesNasdaq CompositeS&P 500$BSX$INTU$META$NVDA$SMMT$UBER
Japan

US Equity Futures Mostly Flat Pre-Bell as Traders Await Further Inflation Data, Nvidia Results

US equity futures were mostly flat pre-bell Wednesday as traders awaited a key inflation report and AI bellwether Nvidia's (NVDA) financial results.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were flat, and Nasdaq futures were 0.1% lower.President Donald Trump said that the US Navy has told him that all mines have been removed or detonated within the Strait of Hormuz. "There is a Zero Tolerance policy on mine placement in full force and effect," Trump said in a post on Truth Social.Nvidia is expected to report its fiscal Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $2.09 per share on revenue of $92.27 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.2% at $85.39 per barrel and US West Texas Intermediate crude 2.4% lower at $80.37 per barrel.The July core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, scheduled for release at 8:30 am ET, is expected to increase 0.2%, compared with the prior month's gain of 0.1%, according to estimates compiled by Bloomberg. The July durable goods orders report is expected to show a 0.5% increase, the same rate as the prior month.Personal income for July is seen rising by 0.2%, the same gain as the previous month. The second estimate for Q2 GDP is seen coming in at 1.5%, unchanged from the advance print.Federal Reserve Richmond President Thomas Barkin is slated to speak on Wednesday.

Dow JonesNasdaq CompositeS&P 500$NVDA
Equity Futures Mixed Pre-Bell Ahead of Key Inflation Report, Nvidia Earnings
US Markets

Equity Futures Mixed Pre-Bell Ahead of Key Inflation Report, Nvidia Earnings

The main US equity measures were mixed in premarket activity Wednesday as traders await a key inflation report and the latest financial results of tech bellwether Nvidia (NVDA).The Nasdaq was down 0.1%, the Dow Jones Industrial Average was up 0.1%, while the S&P 500 was little changed before the opening bell. The three indexes finished Tuesday trading higher, with the Dow rising for a third consecutive session.The personal income and outlays report for July is scheduled to be released at 8:30 am ET. The report includes the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric, as well as data on consumer spending.Data are expected to show that core PCE -- which excludes food and energy prices -- increased 0.2% sequentially and 3.3% annually, according to a Bloomberg-compiled consensus.Treasury yields were mixed in premarket action, with the two-year rate retreating one basis point to 4.2% and the 10-year rate little changed at 4.64%.On Tuesday, Boston Fed President Susan Collins said the Fed may have to raise interest rates soon, unless inflation continues to cool.Markets are currently pricing in a 64% probability that the central bank will keep its benchmark rate steady next month, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.The second estimate report of the US second-quarter gross domestic product is also out at 8:30 am, along with the durable goods orders report for last month. Wednesday's economic calendar also has the weekly mortgage applications bulletin and weekly EIA domestic petroleum inventories report.Richmond Fed President Thomas Barkin is slated to speak at 11:45 am.Nvidia shares were up 0.4% pre-bell, following a 2.2% increase Tuesday. The chipmaking giant is scheduled to report its fiscal second-quarter results after the markets close Wednesday. The current consensus on FactSet is for non-GAAP earnings of $2.09 a share on revenue of $92.27 billion.In a recent note to clients, Morgan Stanley said Nvidia is expected to post strong second-quarter results, though investors are likely to focus more on its longer-term growth drivers.CrowdStrike (CRWD), Salesforce (CRM), Synopsys (SNPS), HP (HPQ) and Urban Outfitters (URBN) are also scheduled to report results in the after hours, while Williams-Sonoma (WSM), J.M. Smucker (SJM), Abercrombie & Fitch (ANF), Bath & Body Works (BBWI) and Kohl's (KSS) post before the bell, among others.West Texas Intermediate crude oil dropped 2.7% to $80.18 a barrel before the open, while Brent fell 3% to $85.97.The foreign ministers of Iran and Oman discussed a proposed framework Tuesday to establish "a joint temporary navigational corridor" through the Strait of Hormuz and implement a joint project to clear the crucial waterway of mines, news outlets reported. The two countries also reportedly agreed to continue technical talks for the future administration of the strait.Intuit (INTU) shares were down 9.8% pre-bell Wednesday after the tax and finance software maker overnight issued a soft fiscal 2027 outlook.Zoom Communications (ZM) fell 6.9% in premarket activity as the video communication platform late Tuesday provided a downbeat earnings outlook for its fiscal third quarter following a second-quarter beat.Gold fell 0.3% to $4,679 per troy ounce, while bitcoin dropped 0.7% to $78,340.

Dow JonesNasdaq CompositeS&P 500$ANF$BBWI$CRM$CRWD$HPQ$INTU$KSS$NVDA$SJM$SNPS$URBN$WSM$ZM
Asia Markets

Nvidia, Oil Outlooks Limit Wall Street Pre-Bell; Asia, Europe Up

Wall Street futures pointed modestly lower pre-bell Wednesday as traders weighed easing oil prices and awaited the after-bell earnings release from semiconductor and AI industry bellwether Nvidia (NVDA).In the futures, the S&P 500 fell 0.1%, the Nasdaq declined 0.1% and the Dow Jones was steady.West Texas Intermediate crude oil traded down 2.5% at $80.31 in morning hours.Traders also await the personal consumption expenditures-core (PCE-core) price index report for July from Washington, slated for an 8:30 am ET release. The Federal Reserve's preferred inflation gauge will be parsed for clues into how general inflation is faring, given higher energy bills.Asian exchanges traded mostly higher overnight, and European bourses edged north midday on the continent.Intuit (INTU) traded down 11% pre-bell after the software enterprise reported fiscal Q4 earnings and revenue above expectations, but offered tepid guidance late Tuesday.On the economic calendar, in addition to the PCE-core bulletin, is the durable goods orders report for July at 8:30 am ET, along with the revised Q2 gross domestic product (GDP) estimate, and the Q2 corporate profits release.The Atlanta Federal Reserve Survey of Business Uncertainty report for August is also scheduled for release later this morning, as well as the weekly EIA petroleum status bulletin set for 10:30 am.Federal Reserve Richmond President Thomas Barkin is slated to speak on Wednesday.In premarket action, Bitcoin traded at $78,623, and 10-year US Treasuries offered 4.64%. Spot gold commanded $4,620 an ounce.

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

Update: US Equity Indexes Rise With Tech While Treasury Yields, Crude Oil Slide as Process to Tighten Noose Around Iran Begins

(Updates with index/price moves, macroeconomic data, analyst comments and company/geopolitical news from the first paragraph.)US equity indexes rose as technology topped sector charts while government bond yields and crude oil extended declines after the Treasury Department began a campaign to tighten sanctions on Iran.The Nasdaq Composite advanced 0.5% to 26,151.30, the S&P 500 climbed 0.3% to 7,677.28, and the Dow Jones Industrial Average edged up 0.3% to 53,577.40 on Tuesday. Communication services was one of the biggest gainers, while energy and consumer staples led decliners at the close. Nvidia's (NVDA) quarterly earnings are due after the bell on Wednesday.The Treasury Department is targeting aviation, shipping, technology, gold and digital assets such as cryptocurrency to choke off Iran's economy, CNN reported. The US is also threatening to impose damaging new sanctions on countries that refuse to cut economic ties with Tehran.Iran pledged to fight back against expanded US sanctions, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.Hours after the US sanctioned dozens of Chinese entities and threatened to target an unspecified "major financial institution" for its dealings with Tehran, Beijing responded by saying its relationship with Iran "should not be disrupted or undermined," Bloomberg reported. China will take "all necessary measures" to safeguard its interests, Foreign Ministry spokesperson Lin Jian was cited as saying.China is the number one buyer of Iranian oil and has insisted it will keep buying about 1.4 million barrels per day, or more than 80% of Iran's crude it currently imports despite US sanctions, according to a Stifel note.The front-month US West Texas Intermediate crude oil contract sank 5.5% to $80.34 per barrel, and global benchmark North Sea Brent plunged 6.5% to $86.18 per barrel.US Treasury yields fell on Tuesday. The 30-year slumped 7.4 basis points to 5.16%, the 10-year dropped 8.1 basis points to 4.62%, and the two-year retreated six basis points to 4.19%.Treasury Secretary Scott Bessent's surprise plan to tamp down US borrowing costs by expanding bond buybacks is having an impact as Treasuries have outperformed equivalent-maturity swaps, narrowing the 30-year spread between the two to the smallest since February, Bloomberg reported.The US administration may be trying to create space for more corporate bond issuance in H2, with the specific goal of helping accelerate the AI infrastructure build-out, bringing the benefits of that build-out sooner and at a lower financial cost than otherwise would have been possible, a Macquarie note said.Meanwhile, the Conference Board's measure of consumer confidence fell to 89.4 in August from 90.2 in July, compared with expectations for no change in a survey compiled by Bloomberg. New home sales fell to a 607,000 annual rate in July from an upwardly revised 678,000 in June, below the 620,000 expected in a survey compiled by Bloomberg. Home sales were down 6.3% from a year ago.July's personal consumption expenditures, or PCE, a key data point in monetary policy formulation, is due Wednesday.Dick's Sporting Goods (DKS) lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace while fiscal Q2 results missed market estimates. Shares sank 31%. Among the steepest decliners on the Dow and the S&P 500 were sports goods retailers Nike (NKE) and Lululemon Athletics (LULU).

Dow JonesNasdaq CompositeS&P 500$DKS$LULU$NKE$NVDA
Update: Equities Rise Despite US-Canada Trade Tensions
US Markets

Update: Equities Rise Despite US-Canada Trade Tensions

(Updates with market moves at the end of the day, and other changes, if any.)Stocks rose Tuesday as Wall Street appeared to dismiss rising trade tensions between the US and Canada.The technology-heavy Nasdaq Composite added 0.7% to close at 26,151.30, while the S&P 500 climbed 0.3% to 7,677.28. The Dow Jones Industrial Average advanced 0.3% to settle at 53,577.40, extending its winning streak to a third day.Most sectors were in the green, led by tech, while energy saw the steepest decline.Canada on Tuesday announced retaliatory tariffs on roughly US$20 billion worth of the American goods, matching Washington's move "dollar for dollar."Trade talks between the US and Canada collapsed late last week.West Texas Intermediate crude oil fell 4.6% to $81.10 a barrel in Tuesday late-afternoon trade, while Brent slumped 5.3% to $87.31.On Monday, the US Treasury Department launched an economic campaign to cut off financial channels that support Iran. Tehran expressed confidence that its major trading partners that include China, Russia and India will resist Washington's pressure campaign, according to CNBC.China said its cooperation with Tehran should not be disrupted, CNN reported Tuesday."The market seems largely unfazed by Washington's push for tighter economic pressure on Iran, with traders treating the US effort to nudge partners away from Iranian trade as marginal rather than market-moving," ING Bank said in a report.US Treasury yields were lower, with the 10-year yield down 7.9 basis points at 4.63% and the two-year yield falling six basis points to 4.18%.In economic news, US consumer confidence fell in August amid a decline in the expectations index, with a "more pessimistic" outlook for business conditions and the labor market ahead, the Conference Board said.New home sales in the US decreased more than projected last month even as median prices moved lower, government data showed.Switching to monetary policy, the Federal Reserve may have to raise interest rates soon, unless inflation continues to cool, Boston Fed President Susan Collins said.Markets are currently pricing in a 66% probability that the Fed will keep its benchmark rate steady in September, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.In company news, Dick's Sporting Goods (DKS) shares sank nearly 31%. The athletic goods retailer lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace, while its fiscal second-quarter results fell short of market estimates.McKesson (MCK) agreed to acquire Precision Medicine in a transaction worth roughly $2.25 billion as part of the drug distributor's efforts to strengthen its clinical research and commercialization services. McKesson shares jumped 3.6%.Nvidia (NVDA) shares rose 2.2%, the second-biggest gain on the Dow and snapping a seven-day losing streak. The tech bellwether is scheduled to release its quarterly results on Wednesday.Spot gold was up 0.4% at $4,668.41 per troy ounce, while silver rose 0.5% to $69.76 per ounce.

Dow JonesNasdaq CompositeS&P 500$DKS$MCK$NVDA
Japan

US Equity Markets Higher as Crude Oil Prices, Bond Yields Drop After US Treasury Threatens Economic Sanctions on Iran

US equity indexes ended higher Tuesday as crude oil prices and government bond yields dropped, after the US Treasury Department started a campaign to impose economic sanctions on Iran.* The Treasury is targeting aviation, shipping, technology, gold and digital assets such as cryptocurrency to choke off Iran's economy, CNN reported. The US is also threatening new sanctions on countries that refuse to cut economic ties with Tehran.* Iran pledged to fight back against expanded US sanctions aimed at isolating its economy, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.* The Conference Board's measure of consumer confidence fell to 89.4 in August from 90.2 in July, compared with expectations for no change in a survey compiled by Bloomberg.* New-home sales fell to a 607,000 annual rate in July from an upwardly revised 678,000 in June, below the 620,000 expected in a survey compiled by Bloomberg, and down 6.3% from a year ago.* October West Texas Intermediate crude oil fell $3.96 to settle at $81.05 per barrel, while October Brent crude, the global benchmark, was last seen down $4.92 at $87.25.* Moderna (MRNA) shares were up roughly 14%, the top gainer on the S&P 500, after Wolfe Research upgraded the company's stock to peer perform from underperform.* Shell (SHEL) has drawn interest from potential bidders, including ExxonMobil (XOM), LyondellBasell (LYB) and Apollo Global Management (APO), for its US chemicals assets, which could fetch up to $8 billion, the Financial Times reported Monday, citing people familiar with the matter. LyondellBasell shares were down 4%, the worst performer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$APO$LYB$MRNA$SHEL$XOM
Japan

Update: US Equity Indexes Advance Amid Slumping Treasury Yields, Crude Oil

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes rose as technology topped sector charts while government bond yields and crude oil extended declines after the Treasury Department began a campaign to tighten sanctions against Iran.The Nasdaq Composite advanced 0.4% to 26,090.8, the S&P 500 climbed 0.2% to 7,667.4 and the Dow Jones Industrial Average edged up 0.3% to 53,558.5. Energy and consumer staples led the decliners.The Treasury is targeting aviation, shipping, technology, gold and digital assets such as cryptocurrency to choke off Iran's economy, CNN reported. The US is also threatening damaging new sanctions on countries that refuse to cut economic ties with Tehran.Iran pledged to fight back against expanded US sanctions aimed at isolating its economy, expressing confidence major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.Hours after the US sanctioned dozens of Chinese entities and threatened to target an unspecified "major financial institution" for its dealings with Tehran, Beijing responded by saying its relationship with Iran "should not be disrupted or undermined," Bloomberg reported. China will take "all necessary measures" to safeguard its interests, Foreign Ministry spokesperson Lin Jian was cited as saying.Meanwhile, Iran and Oman outlined a proposal to establish a temporary joint shipping lane and launch a demining effort in the Strait of Hormuz, the CNN news report said.The front-month US West Texas Intermediate crude oil contract retreated 3.2% to $82.29 per barrel, and global benchmark North Sea Brent slumped 4% to $88.50 per barrel.US Treasury yields remained lower in the final stretch of trading. The 30-year slumped 6.1 basis points to 5.17%, the 10-year dropped 6.7 basis points to 4.64% and the two-year retreated 4.5 basis points to 4.19%.

Dow JonesNasdaq CompositeS&P 500
Update: Equities Rise Intraday, Oil Falls as Markets Monitor Trade Developments
US Markets

Update: Equities Rise Intraday, Oil Falls as Markets Monitor Trade Developments

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday, while oil prices dropped as investors tracked Washington's new economic sanctions on Iran and a worsening trade conflict with Canada.The technology-heavy Nasdaq Composite was up 0.5% at 26,118.8 after midday Tuesday, while the S&P 500 rose 0.2% to 7,668.7. The Dow Jones Industrial Average edged up 0.1% to 53,484.3. Among sectors, tech paced the gainers, while consumer staples led the laggards.West Texas Intermediate crude oil fell 3.2% to $82.31 a barrel, while Brent dropped 3.7% to $88.81.On Monday, the US Treasury Department launched an economic campaign to cut off financial channels that support Iran. Countries doing business with Tehran will be given deadlines to shut down Iran-related activities, while entities aiding money laundering or sanctions evasion on behalf of Iran could be cut off from the US financial system.Iran vowed to retaliate and expressed confidence that its major trading partners will resist Washington's pressure campaign, according to CNBC. China, Russia, India, Pakistan, Qatar and Turkey, among others, still trade with Tehran, Axios reported Monday.China has warned that the new US sanctions on Iran "will only further intensify tensions" and that Beijing's cooperation with Tehran should not be disrupted, CNN reported Tuesday."The market seems largely unfazed by Washington's push for tighter economic pressure on Iran, with traders treating the US effort to nudge partners away from Iranian trade as marginal rather than market-moving," ING Bank said in a report.Canada unveiled retaliatory tariffs against Washington, matching "dollar for dollar" the 50% duties recently imposed by US President Donald Trump, news outlets reported Tuesday. Canada's new tariffs reportedly cover more than 700 US goods and are worth roughly $20 billion.Trade talks between the US and Canada collapsed late last week.US Treasury yields were lower intraday Tuesday, with the 10-year yield down 5.9 basis points at 4.65% and the two-year yield falling 2.8 basis points to 4.21%. Yields on long-term maturities also eased.In economic news, US consumer confidence fell in August amid a decline in the expectations index, with a "more pessimistic" outlook for business conditions and the labor market ahead, the Conference Board said.The Federal Reserve may have to tighten its monetary policy soon, unless inflation continues to cool, Boston Fed President Susan Collins said."Given the many possible scenarios, policy will need to be nimble," she said. "Should evidence of sustained inflation progress not materialize, I believe it will be appropriate to tighten policy soon to ensure we deliver price stability in a reasonable time frame."Markets are currently pricing in a 60% probability that the Fed will keep its benchmark rate steady in September, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.In company news, Dick's Sporting Goods (DKS) shares sank 29% intraday. The athletic goods retailer lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace, while its fiscal second-quarter results fell short of market estimates.McKesson (MCK) agreed to acquire Precision Medicine in a transaction worth roughly $2.25 billion as part of the drug distributor's efforts to strengthen its clinical research and commercialization services. McKesson shares were up 2.3%.Intuit (INTU) is among the companies that are scheduled to report their latest quarterly financial results after the closing bell Tuesday.Spot gold was down 0.3 at $4,640.49 per troy ounce, while silver edged up 0.1% to $69.43 per ounce.

Dow JonesNasdaq CompositeS&P 500$DKS$INTU$MCK
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 0.6%.US equity indexes rose as technology topped sector charts while government bond yields and crude oil extended declines after Iran vowed to retaliate against the Trump administration's plans to choke its fragile economy.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each lost 0.8%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) rose 0.8%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) also advanced.The State Street SPDR S&P Semiconductor (XSD) was up 1.5%, while iShares Semiconductor (SOXX) added 1.3%.FinancialThe State Street Financial Select Sector SPDR (XLF) fell fractionally. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.1%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), gained 0.2%.CommoditiesCrude oil eased 3.1%, and the United States Oil Fund (USO) lost 3.4%. Natural gas dipped 0.7%, and the United States Natural Gas Fund (UNG) fell 0.1%.Gold on Comex rose 0.1%, and the State Street SPDR Gold Shares (GLD) eased 0.3%. Silver gained 0.1%, and iShares Silver Trust (SLV) slipped 0.3%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) shed 1.2%. The Vanguard Consumer Staples ETF (VDC) fell 1%, while iShares Dow Jones US Consumer Goods (IYK) lost 0.6%.The State Street Consumer Discretionary Select Sector SPDR (XLY) fell fractionally. VanEck Retail ETF (RTH) was flat, and the State Street SPDR S&P Retail (XRT) dropped 1.1%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) gained 0.5%. iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were also higher. IShares Biotechnology ETF (IBB) added 1.7%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) dipped 0.3%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also in the red.CryptocurrencyIn midday activity, bitcoin (BTC-USD) added 0.3%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) gained 0.3%, ProShares Ether ETF (EETH) was up 0.3%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) climbed 0.7%.

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
Asia Markets

Update: Technology Helps Push US Equity Indexes Higher Amid Declines in Treasury Yields, Crude Oil

(Updates with index/price moves, macroeconomic data, and company news from the first paragraph.)US equity indexes rose as technology topped sector charts while government bond yields and crude oil extended declines after Iran vowed to retaliate against the Trump administration's plans to choke its fragile economy.The Nasdaq Composite advanced 0.6% to 26,141.5, the S&P 500 climbed 0.3% to 7,675.6 and the Dow Jones Industrial Average edged up 0.1% to 53,493.8. Consumer staples and energy led the decliners.Among companies with market capitalizations exceeding $200 billion each, more than half of the top 10 names by intraday returns were in the technology sector, according to data compiled by Finviz. Of those seven firms, five were related to the semiconductor industry. Marvell Technology (MRVL) led the pack, up 5.6%.US Treasury yields dropped after midday. The 30-year slumped 5.8 basis points to 5.17%, the 10-year dropped 5.9 basis points to 4.64% and the two-year retreated 5.3 basis points to 4.2%.Iran pledged to fight back against expanded US sanctions aimed at isolating its economy, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.Hours after the US sanctioned dozens of Chinese entities and threatened to target an unspecified "major financial institution" for its dealings with Tehran, Beijing responded by saying its relationship with Iran "should not be disrupted or undermined," Bloomberg reported. China will take "all necessary measures" to safeguard its interests, Foreign Ministry spokesperson Lin Jian was cited as saying.The front-month US West Texas Intermediate crude oil contract retreated 3.4% to $82.09 per barrel, and global benchmark North Sea Brent slumped 3.8% to $88.69 per barrel.A Canada-US trade deal could still be reached by year-end despite renewed tariff tensions, Commerzbank Research said in a Tuesday note. Monday's US tariffs on Canadian vehicles, auto parts and steel are set to take effect from the start of next year.Meanwhile, in economic news, the Conference Board's measure of consumer confidence fell to 89.4 in August from 90.2 in July, compared with expectations for no change in a survey compiled by Bloomberg.New-home sales fell to a 607,000 annual rate in July from an upwardly revised 678,000 in June, below the 620,000 expected in a survey compiled by Bloomberg. Home sales were down 6.3% from a year ago.The Richmond Fed's manufacturing index fell to 4 in August from 5 in July, below expectations for 7 in a survey compiled by Bloomberg. In contrast, other regional manufacturing data already released have suggested a faster pace of expansion.Redbook US same-store sales surged 9.1% from a year earlier in the week ended Aug. 22 after a 7.6% jump in the prior week. Redbook noted strong back-to-school sales.In company news, Dick's Sporting Goods (DKS) lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace while fiscal Q2 results missed market estimates. Shares sank 29%. Among the steepest decliners on the Dow and the S&P 500 were sports goods retailers Nike (NKE) and Lululemon Athletics (LULU), down 2.7% and 4.2%, respectively.

Dow JonesNasdaq CompositeS&P 500$DKS$LULU$MRVL$NKE
Japan

Update: Technology Helps Push US Equity Indexes Higher in Midday Trading

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes rose as technology topped sector charts while government bond yields and crude oil extended declines after Iran vowed to retaliate against the Trump administration's plans to choke its fragile economy.The Nasdaq Composite advanced 0.6% to 26,127.1, and the S&P 500 climbed 0.2% to 7,670.2 after midday Tuesday. The Dow Jones Industrial Average edged up by less than 0.1% to 53,435.5. Technology topped the gainers while consumer Stapels and energy led the decliners.Among companies with market capitalizations exceeding $200 billion each, more than half of the top 10 names by intraday returns were in the technology sector, according to data compiled by Finviz. Of those six firms, five were related to the semiconductor industry. Marvell Technology (MRVL) led the pack, up 6.5%.US Treasury yields dropped after midday. The 30-year slumped five basis points to 5.18%, the 10-year dropped 5.5 basis points to 4.65% and the two-year retreated 3.6 basis points to 4.2%.Iran pledged to fight back against expanded US sanctions aimed at isolating its economy, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.Hours after the US sanctioned dozens of Chinese entities and threatened to target an unspecified "major financial institution" for its dealings with Tehran, Beijing responded by saying its relationship with Iran "should not be disrupted or undermined," Bloomberg reported. China will take "all necessary measures" to safeguard its interests, Foreign Ministry spokesperson Lin Jian was cited as saying.The front-month US West Texas Intermediate crude oil contract retreated 2.9% to $82.56 per barrel, and global benchmark North Sea Brent slumped 3.1% to $89.35 per barrel.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Tuesday as Chip Stocks Recover

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5%, and the actively traded Invesco QQQ Trust (QQQ) was 1% higher in Tuesday's premarket activity as chip stocks recovered from Monday's losses.US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures gaining 1% before the start of regular trading.In premarket activity, bitcoin was up by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% higher, Ether ETF (EETH) advanced 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) increased 2.4%.The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index fell to negative 10.6 in August from 7.4 in the previous month, compared with a smaller decrease to 3.6 expected in a Bloomberg survey, indicating contraction in the sector.The Case-Shiller National Home Price index rose by 0.4% in June before seasonal adjustment following a 0.7% increase in May.The FHFA's measure of home prices held steady in June after an unrevised 0.3% increase in the previous month, below the 0.2% gain expected in a survey compiled by Bloomberg.Reports slated for a 10 am ET release include the consumer confidence report and Richmond Fed business conditions data for August, and new-home sales for July.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was 0.1% lower, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.1%, 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 down 0.4%, while the State Street SPDR S&P Retail ETF (XRT) was flat.Dick's Sporting Goods (DKS) shares were down more than 17% pre-bell after the company reported lower fiscal Q2 non-GAAP earnings and cut its fiscal 2026 guidance.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.7% lower.Bank of Nova Scotia (BNS) shares were up 2% in premarket activity after the company reported higher fiscal Q3 adjusted earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.1%, the Vanguard Health Care Index Fund (VHT) was up 1%, while the iShares US Healthcare ETF (IYH) advanced 0.5%. The iShares Biotechnology ETF (IBB) was 0.2% higher.Moderna (MRNA) stock was up more than 1% premarket after Wolfe upgraded it to peer perform from underperform.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.5%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.SpaceX (SPCX) stock was up more than 1% before the opening bell after Elon Musk said in an X post on Monday that the company plans to launch its first AI satellites run by Nvidia (NVDA) chips in Q4 2027, with the network expected to reach significant scale in 2028.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1.1%, the iShares US Technology ETF (IYW) was 1.3% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased 2.9% while the iShares Semiconductor ETF (SOXX) rose by 2.4%.Nvidia (NVDA) shares were up more than 1% in premarket activity after Raymond James lifted its price target for the company to $352 from $330.EnergyThe iShares US Energy ETF (IYE) retreated 0.02%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 1%.Equinor (EQNR) stock was down more than 1% before market open, following a 1.1% loss in the previous session. The company's Executive Vice President Philippe Mathieu said Equinor plans to boost production outside Norway to 950,000 barrels of oil equivalent per day by 2030, while generating $20 billion of free cash flow from 2026 to 2030.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 3.5% to $82.02 per barrel on the New York Mercantile Exchange. Natural gas was down 1.7% at $2.74 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased 2.9%, while the United States Natural Gas Fund (UNG) was 1.4% lower.Gold futures for November were down by 0.1% at $4,692.70 an ounce on the Comex. Silver futures retreated 0.9% to $68.77 an ounce. SPDR Gold Shares (GLD) decreased 0.4%, and the iShares Silver Trust (SLV) was 1.3% lower.

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

Update: US Equity Futures Higher Pre-Bell as Tech Stocks Bounce Back From Selloff

(Updates with economic data, recent oil price movement, world markets' overview, and corporate stock movements.)US equity futures were edging higher pre-bell Tuesday as technology-related stocks bounced back from a selloff in the previous session.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 1% higher.In a Monday announcement of new economic sanctions against Iran, US Treasury Secretary Scott Bessent said that other countries would need to stop doing business with the Middle Eastern nation or risk being cut out of the dollar-based financial system. He did not identify the countries involved but added that they have a defined timeline to comply with the new directive.Traders digested the latest round of earnings, with Bank of Montreal (BMO) reporting higher fiscal Q3 adjusted earnings and revenue.Intuit (INTU) is expected to report its fiscal Q4 earnings after the market closes. Analysts polled by FactSet expect adjusted earnings of $3.58 per share on revenue of $4.27 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.9% at $87.88 per barrel and US West Texas Intermediate crude 3.1% lower at $82.37 per barrel.The June S&P Case-Shiller home price index is scheduled for release at 9 am ET. The August consumer confidence index, due at 10 am ET, is projected to drop to 90.2 from 90.8, according to estimates compiled by Bloomberg. July new home sales are seen at a 620,000 annual rate, down from 628,000 previously. The Richmond Fed manufacturing index for August is also scheduled to be released at 10 am ET.Federal Reserve Richmond President Thomas Barkin is slated to speak at 4 pm ET.In other world markets, Japan's Nikkei closed 0.5% higher, Hong Kong's Hang Seng ended flat, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.8% higher in Europe's early afternoon session.In equities, stocks of Nvidia (NVDA), Micron Technology (MU), and Advanced Micro Devices (AMD) were higher as part of a wider upswing in the technology sector. Nvidia shares rose 1.3%, Micron Technology stock was up 2.2%, and Advanced Micro Devices shares were 3% higher.On the losing side, stocks of Exxon Mobil (XOM), Chevron (CVX), and ConocoPhillips (COP) were down as oil prices declined. Exxon Mobil shares fell 1.3%, Chevron stock was down 1%, and ConocoPhillips shares were 1.7% lower. Dick's Sporting Goods (DKS) stock plunged 19% after the company posted lower-than expected fiscal Q2 non-GAAP earnings and net sales, as well as reduced its fiscal 2026 outlook.

Dow JonesNasdaq CompositeS&P 500$AMD$BMO$COP$CVX$DKS$INTU$MU$NVDA$XOM

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