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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.

Japan

Easing Bond Yields Nudge US Equity Futures Higher Pre-Bell Amid Ongoing Middle East Peace Talks

US equity futures were marginally higher pre-bell Friday as traders observed bond yields easing and continued to monitor developments in the Middle East peace negotiations.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.1% higher.Treasury yields declined after a spike earlier in the week. The yield on the 10-year US Treasury note fell more than 2 basis points to 4.56%.Iranian Foreign Minister Abbas Araqchi met with Pakistani Interior Minister Syed Mohsin Naqvi in Tehran to discuss proposals aimed at ending the US-Iran conflict, according to Iranian media reports. US and Iran are still in disagreement over the issue of uranium enrichment and control over the Strait of Hormuz.Traders noted the latest round of earnings, with BJ's Wholesale Club (BJ) posting lower fiscal Q1 adjusted earnings on higher revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.9% at $104.53 per barrel and US West Texas Intermediate crude 1.3% higher at $97.53 per barrel.The final University of Michigan consumer sentiment report for May, scheduled at 10 am ET, is expected to show consumer sentiment index coming in at 48.2, unchanged from the preliminary reading, according to estimates compiled by Bloomberg.Federal Reserve Governor Christopher Waller is slated to speak on Friday.

Dow JonesNasdaq CompositeS&P 500$BJ
Stocks Rise Pre-Bell as Investors Monitor US-Iran Negotiations
US Markets

Stocks Rise Pre-Bell as Investors Monitor US-Iran Negotiations

The benchmark US stock measures were tracking in the green before the open Friday as investors continue to monitor negotiations between the US and Iran to end the Middle East conflict.The S&P 500 edged up 0.1%, the Dow Jones Industrial Average added 0.2% and the Nasdaq was slightly up in premarket activity. The indexes finished the previous trading session higher, with the Dow reaching an all-time peak.US Secretary of State Marco Rubio reportedly said Thursday that there were "good signs" that a peace deal between the two countries is in sight, but warned that any agreement would be "unfeasible" if Iran insists on controlling shipping through the crucial Strait of Hormuz. Iran is discussing setting up a permanent toll system with Oman to formalize its control of the strait, Bloomberg News reported."No one in the world is in favor of a tolling system," Rubio told reporters, according to CNBC. "It can't happen [and] it would be unacceptable."The semi-official Iranian Students' News Agency reportedly said that the latest US proposal to Iran has "narrowed the gaps to some extent" between the two sides, although "further reductions require an end to the temptation for war from Washington."West Texas Intermediate crude oil rose 1.9% to $98.19 a barrel before the open, while Brent increased 2.5% to $105.18."The oil market remains overly sensitive to Iran-related headlines, with participants continuing to pin considerable hope on reports that talks between the US and Iran are progressing," ING Bank said in a report on Thursday.Treasury yields were down in premarket action, with the two-year rate retreating 0.7 basis points to 4.08% and the 10-year rate off 2.4 basis points to 4.56%.Shares of IBM (IBM), GlobalFoundries (GFS) and D-Wave Quantum (QBTS) were up pre-bell after being selected for US government funding under the Trump administration's plan to strengthen the country's position in quantum computing.Ross Stores (ROST) rose 5.3% after the discount retailer lifted its full-year outlook and reported better-than-expected fiscal first-quarter results. Take-Two Interactive Software (TTWO) gained 5.8% as the video game publisher reported a smaller-than-expected fiscal fourth-quarter loss and said it was on track to launch the highly anticipated "Grand Theft Auto VI" on Nov. 19.BJ's Wholesale Club (BJ) and Booz Allen Hamilton (BAH) report their latest financial results before the bell.Friday's economic calendar has the final University of Michigan consumer sentiment report for May at 10 am ET, while the weekly Baker Hughes oil-and-gas rig count posts at 1 pm. Federal Reserve Governor Christopher Waller is scheduled to speak at 10 am.Richmond Fed President Tom Barkin said Thursday that lifting interest rates may not be an appropriate response to curb price pressures."Raising rates to weaken demand doesn't address the root cause behind supply shock-driven inflation. It doesn't free up trade routes, reopen factories or melt ice," he said in prepared remarks for an event in North Carolina. "That said, I've been asking myself whether we've entered an era where supply shocks will become more frequent."Gold decreased 0.7% to $4,513 per troy ounce, while bitcoin slipped 0.4% to $77,221.

Dow JonesNasdaq CompositeS&P 500$BAH$BJ$GFS$IBM$QBTS$ROST$TTWO
International

Persian Gulf Doubts, AI-Optimism Cap Wall Street Pr-Bell; Asia, Europe Up

Wall Street futures largely pointed sideways pre-bell Friday as traders again weighed the uncertain Persian Gulf outlook against the sustained upbeat performance of AI-related shares.Modestly easing bond yields gave some lift to market sentiment.In the futures, the S&P 500 rose 0.1%, the Nasdaq was steady and the Dow Jones was up 0.2%.Asian exchanges rallied overnight, with a record set on Tokyo's Nikkei 225 index on tech-sector optimism. European bourses tracked moderately north midday on the continent.President Trump will swear in Kevin Warsh as Federal Reserve chair on Friday at the White House, the administration said.On the economic calendar is the University of Michigan consumer sentiment report for May at 10 am ET, along with the April leading indicators bulletin.The weekly Baker Hughes oil-and-gas rig count logs at 1 pm.Federal Reserve Governor Christopher Waller is slated to speak on Friday.In pre-market action, bitcoin traded at $77,267, West Texas Intermediate crude oil traded up 2.4% at $98.64, and 10-year US Treasuries offered 4.56%. Spot gold commanded $4,518 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

US Equity Indexes Off Session Highs as Iran Examines Peace Deal, Trump Firm No-Nuclear for Tehran

US equity indexes were off session highs as President Donald Trump appeared open to giving Iran time to review Washington's latest peace proposal while reportedly remaining firm on preventing Tehran from ever going nuclear.The Dow Jones Industrial Average climbed 0.6% to 50,285.66, with the S&P 500 up 0.2% to 7,445.72 and the Nasdaq Composite higher by less than 0.1% to 26,293.10 on Thursday. After the open, all three indexes traded lower. The gauges, however, clawed back losses and traded higher after midday, before giving up some of the gains in the final leg.All sectors except consumer staples, energy, and industrials rose. Utilities led the gainers.The Islamic Republic is "reviewing" the views of the American side, CNBC cited Iran Foreign Ministry spokesperson Esmaeil Baghaei as saying in a report from the state-run Nour News on Thursday. The latest US peace offer partly bridged the gap between warring sides, but disagreements remain, Bloomberg reported. Trump is prepared to wait a few more days to "get the right answers" from Tehran, CNBC reported.Meanwhile, Iran's Supreme Leader Ayatollah Mojtaba Khamenei ordered enriched uranium to remain in the Islamic Republic, Reuters reported Thursday, citing two senior sources from the country. However, Tehran will "downblend" the nuclear material itself, an Iranian official on Thursday told Al Jazeera, which also reported that Trump has vowed to seize the nuclear material."We will get it. We don't need it, we don't want it. We'll probably destroy it after we get it, but we're not going to let them have it," Reuters cited Trump as telling reporters at the White House on Thursday.Further, Iran is also discussing with Oman ways to set up a permanent toll system to formalize its control of maritime traffic through the Strait of Hormuz, Bloomberg reported Thursday. "Iran and Oman must mobilize all their resources both to provide security services and to manage navigation, in the most appropriate manner," the Iranian ambassador to France, Mohammad Amin-Nejad, told Bloomberg on Wednesday.West Texas Intermediate crude oil futures fell 0.9% to $97.39, and Brent crude futures declined 0.9% to $104.12.US Treasury yields were mixed, with the 10-year leaning slightly lower at 4.57%. The two-year yield rose 3.4 basis points to 4.07%.Late Wednesday, a majority of Federal Open Market Committee participants appeared to be leaning away from rate cuts for now and were open to the possibility of rate increases, minutes of the April 28-29 meeting showed.In economic news Thursday, US initial jobless claims fell to 209,000 in the week ended May 16 from an upwardly revised 212,000 in the previous week, compared with expectations for 210,000 in a Bloomberg-compiled survey.The May flash reading of manufacturing conditions from S&P Global rose to 55.3, a 48-month high, from 54.5 in April, compared with the 53.8 anticipated in a Bloomberg-compiled poll.April housing starts fell 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg for a 1.410 million rate. Building permits jumped 5.8% to a 1.442 million rate in April, above the 1.384 million rate expected and following a decrease to a 1.363 million rate in March.In company news, Nvidia (NVDA) reported overnight stronger-than-expected fiscal Q1 adjusted earnings and revenue. The chipmaker also unveiled an additional $80 billion share repurchase authorization and raised its quarterly dividend.

Dow JonesNasdaq CompositeS&P 500$NVDA
Dow Hits Record High Despite Nvidia's Decline; Oil Prices Fall
US Markets

Dow Hits Record High Despite Nvidia's Decline; Oil Prices Fall

The Dow Jones Industrial Average hit an all-time peak on Thursday even as Nvidia's (NVDA) shares declined, while oil prices headed for their third straight day of decline.The Dow rose 0.6% to settle at 50,285.7, logging a record closing high and marking the second consecutive day of gains. The S&P 500 added 0.2% to 7,445.7, while the Nasdaq Composite edged up 0.1% to 26,293.1. Most sectors ended in the green, led by utilities, while consumer staples saw the biggest drop.Shares of Nvidia fell 1.8%, the third-worst performer on the Dow.The chipmaking giant late Wednesday reported fiscal first-quarter revenue above Wall Street's estimates as data center sales outperformed expectations amid an artificial intelligence boom.For the current quarter, Nvidia said it anticipates revenue of $91 billion, plus or minus 2%. The consensus indicated $87.29 billion."Nvidia has become so important that good is not enough," Saxo Bank said in a report. "Investors want proof that the cycle extends into 2027 and beyond, that margins can stay high, and that customers are not simply ordering ahead before the next chip transition."West Texas Intermediate crude oil was last down 0.3% at $97.82 a barrel and Brent fell 0.5% to $104.55, both on course for their third consecutive decline."The oil market remains overly sensitive to Iran-related headlines, with participants continuing to pin considerable hope on reports that talks between the US and Iran are progressing," ING Bank said in a report."We've been in this situation multiple times before, which ultimately led to disappointment," ING said. "Yet the market is still reactive, likely reflecting the significance of ongoing supply disruptions."Iran's Supreme Leader, Ayatollah Mojtaba Khamenei, has issued a directive that the country's uranium should remain within the country, Reuters reported Thursday, citing two senior Iranian sources.President Donald Trump reportedly said Thursday that the US will eventually recover Iran's stockpile of highly enriched uranium. Retrieving the uranium is a key objective of Trump's war on Iran.Trump told reporters on Wednesday that negotiations with Iran had reached the final stages, though he warned of further attacks if Tehran backed out, according to several media outlets.Iran is discussing setting up a permanent toll system with Oman to formalize its control of the Strait of Hormuz, Bloomberg News reported Thursday.Treasury yields were mixed, with the two-year rate last up 1.1 basis points at 4.08% and the 10-year yield rate falling 2.3 basis points to 4.57%.Switching to monetary policy, Richmond Fed President Tom Barkin said lifting interest rates may not be an appropriate response to curb price pressures."Raising rates to weaken demand doesn't address the root cause behind supply shock-driven inflation. It doesn't free up trade routes, reopen factories or melt ice," he said in prepared remarks for an event in North Carolina. "That said, I've been asking myself whether we've entered an era where supply shocks will become more frequent.""With inflation above our 2% target for over five years now, it's worth asking whether the cumulative impact of so many waves risks loosening the anchor," Barkin said.At their April policy meeting, Federal Reserve officials flagged the possibility of higher interest rates if the Middle East conflict drags on and keeps inflation above the 2% goal, minutes from the meeting showed on Wednesday.In other corporate news, Ralph Lauren (RL) jumped nearly 14%, the top gainer on the S&P 500. The luxury apparel maker outlined a full-year revenue guidance that implied a slowdown annually, while the company reported better-than-expected fiscal fourth-quarter results.Spotify (SPOT) advanced 13% after the audio-streaming platform outlined its long-term financial targets and signed licensing agreements with Universal Music Group for fan-made remixes.Walmart (WMT) shares slumped 7.3%, the steepest decline on the Dow and third-biggest on the S&P 500. The retail giant issued a fiscal second-quarter earnings outlook below market estimates, while it reported better-than-expected revenue in the previous three-month period.Intuit's (INTU) stock plunged 20%, the worst performer on the S&P 500. The financial technology platform late Wednesday reported better-than-expected fiscal third-quarter results and disclosed plans to reduce its workforce by about 17%.Deere's (DE) fiscal second-quarter results exceeded analysts' expectations, while the company on Thursday affirmed its soft full-year earnings outlook amid continued pressure in global agricultural markets. The stock lost 5.2%, among the worst performers on the S&P 500.Gold was last up 0.2% at $4,544.70 per troy ounce, while silver rose 1.1% to $77.01 per ounce.

Dow JonesNasdaq CompositeS&P 500$DE$INTU$NVDA$RL$SPOT$WMT
Japan

US Equity Markets Close Higher as Trump Signals Openness to Give Iran More Time on Peace Plan

US equity indexes ended higher Thursday after President Donald Trump appeared willing to wait for Iran to review Washington's latest proposal to agree on a framework for a peace deal.* Iran said it is reviewing the Trump administration's latest proposal to end the war after the US president said he was prepared to wait a few more days to "get the right answers" from Tehran, CNBC reported.* US initial jobless claims last week fell to 209,000 from an upwardly revised 212,000 in the previous week, compared with expectations for 210,000 in a Bloomberg survey.* April housing starts fell 2.8% to a 1.465 million annual rate from March, compared with a 1.41 million rate expected in a Bloomberg survey.* July West Texas Intermediate crude oil fell $0.76 to settle at $97.50 per barrel, while July Brent crude, the global benchmark, was last seen down $0.81 at $104.21.* IBM (IBM), GlobalFoundries (GFS), and D-Wave Quantum (QBTS) said they are set to receive billions of dollars in US government backing as part of the Trump administration's move to solidify the nation's lead in quantum computing. IBM shares rose 12%, the top gainer on the Dow Jones Industrial Average.* Intuit (INTU) shares fell 20%, the biggest drop on the S&P 500, after the company said it expects to incur $300 million to $340 million in restructuring charges from a plan to cut its workforce by 17%, primarily in fiscal Q4.

Dow JonesNasdaq CompositeS&P 500$GFS$IBM$INTU$QBTS
Japan

US Equity Indexes Mixed as Iran Reviews Washington's Peace Proposal, Trump Firm on Nuclear Rollback

US equity indexes turned mixed ahead of Thursday's close as President Donald Trump appeared open to giving Iran time to review Washington's latest peace proposal while reportedly vowing to be firm on the nuclear issue.The Nasdaq Composite was steady at 26,279.1, while the S&P 500 was up 0.1% to 7,440.8 and the Dow Jones Industrial Average climbed 0.5% to 50,254.1.Iran on Thursday said it is reviewing the Trump administration's latest proposal to end the war after the US president said he was prepared to wait a few more days to "get the right answers" from Tehran, CNBC reported.Iran Foreign Ministry spokesperson Esmaeil Baghaei said the Islamic Republic had received the views of the American side and is "reviewing" it, CNBC cited the state-run agency Nour News. Iran said the latest US peace proposal partly bridged the gap between the warring sides, but disagreements remain, Bloomberg reported.Iran's Supreme Leader Ayatollah Mojtaba Khamenei ordered enriched uranium to remain in the Islamic Republic, Reuters reported Thursday, citing two senior sources from the country. However, Tehran will "downblend" the nuclear material itself, an Iranian official told Al Jazeera, which also reported Trump has vowed to seize the nuclear material.Further, Iran is also discussing with Oman ways to set up a permanent toll system to formalize its control of maritime traffic through the Strait of Hormuz, Bloomberg reported. "Iran and Oman must mobilize all their resources both to provide security services and to manage navigation, in the most appropriate manner," the Iranian ambassador to France, Mohammad Amin-Nejad, said in an interview with Bloomberg in Paris on Wednesday.West Texas Intermediate crude oil futures fell 1.1% to $97.22, and Brent crude futures declined 1.1% to $103.91 in the final leg of trading.

Dow JonesNasdaq CompositeS&P 500
Equity Markets Rise Intraday, Oil Falls as Traders Monitor Middle East Developments
US Markets

Equity Markets Rise Intraday, Oil Falls as Traders Monitor Middle East Developments

US equity markets edged higher intraday and oil prices declined as traders tracked the latest on the Iran war, while technology bellwether Nvidia's (NVDA) shares slipped despite reporting stronger-than-expected first-quarter revenue.The Dow Jones Industrial Average was up 0.5% at 50,256.6 after midday Thursday, while the Nasdaq Composite rose 0.3% to 26,345. The S&P 500 added 0.3% to 7,453.4. Most sectors were in the green, led by consumer discretionary, while consumer staples saw the biggest drop.West Texas Intermediate crude oil was down 2.4% at $95.92 a barrel intraday, while Brent fell 2.5% to $102.39.Iran's Supreme Leader, Ayatollah Mojtaba Khamenei, has issued a directive that the country's uranium should remain within the country, Reuters reported Thursday, citing two senior Iranian sources.President Donald Trump reportedly said Thursday that the US will eventually recover Iran's stockpile of highly enriched uranium. Retrieving the uranium is a key objective of Trump's war on Iran.Trump told reporters on Wednesday that negotiations with Iran had reached the final stages, though he warned of further attacks if Tehran backed out, according to several media outlets.Iran is discussing setting up a permanent toll system with Oman to formalize its control of the Strait of Hormuz, Bloomberg News reported Thursday.Treasury yields were mixed intraday, with the two-year rate up 2.4 basis points at 4.09% and the 10-year yield rate little changed at 4.59%.Shares of Nvidia (NVDA) fell 1.2% intraday, among the worst performers on the Dow.The chipmaking giant late Wednesday reported fiscal first-quarter revenue above Wall Street's estimates as data center sales outperformed expectations amid an artificial intelligence boom.For the current quarter, Nvidia said it anticipates revenue of $91 billion, plus or minus 2%. The consensus indicated $87.29 billion."Nvidia has become so important that good is not enough," Saxo Bank said in a report. "Investors want proof that the cycle extends into 2027 and beyond, that margins can stay high, and that customers are not simply ordering ahead before the next chip transition."Walmart (WMT) shares were down 6.9%, the steepest decline on the Dow and second-biggest on the S&P 500. The retail giant issued a fiscal second-quarter earnings outlook below market estimates, while it reported better-than-expected revenue in the previous three-month period.Intuit's (INTU) stock plunged 20% intraday, the worst performer on the S&P 500. The financial technology platform late Wednesday reported better-than-expected fiscal third-quarter results and disclosed plans to reduce its workforce by about 17%.Deere's (DE) fiscal second-quarter results exceeded analysts' expectations, while the company on Thursday affirmed its soft full-year earnings outlook amid continued pressure in global agricultural markets. The stock was 4.6% lower intraday, among the worst performers on the S&P 500.Lifting interest rates may not be an appropriate response from the Federal Reserve to curb price pressures, Richmond Fed President Tom Barkin said in prepared remarks for an event in North Carolina."Raising rates to weaken demand doesn't address the root cause behind supply shock-driven inflation. It doesn't free up trade routes, reopen factories or melt ice," he said. "That said, I've been asking myself whether we've entered an era where supply shocks will become more frequent.""With inflation above our 2% target for over five years now, it's worth asking whether the cumulative impact of so many waves risks loosening the anchor."Fed officials at their April policy meeting flagged the possibility of higher interest rates if the Middle East conflict drags on and keeps inflation above the 2% goal, minutes from the meeting showed on Wednesday.Ross Stores (ROST), Take-Two Interactive Software (TTWO), and Workday (WDAY) are among companies scheduled to release their earnings after the markets close.Gold was up 0.2% at $4,545.90 per troy ounce, while silver rose 1.1% to $77.05 per ounce.

Dow JonesNasdaq CompositeS&P 500$DE$INTU$NVDA$ROST$TTWO$WDAY$WMT
Asia Markets

US Equity Indexes Advance as Iran Reviews Washington's Peace Proposal

US equity indexes rose as President Donald Trump appeared open to giving Iran time to review Washington's latest proposal to agree on a framework for a peace deal.The Nasdaq Composite rose 0.5% to 26,390.2, with the S&P 500 up 0.4% to 7,462.7 and the Dow Jones Industrial Average higher by 0.6% to 50,324.7 in Thursday's midday trading. All three indexes traded lower earlier in the session.All sectors, except energy, consumer staples, and real estate, rose. Consumer discretionary led the gainers.Iran on Thursday said it is reviewing the Trump administration's latest proposal to end the war after the US president said he was prepared to wait a few more days to "get the right answers" from Tehran, CNBC reported. Iran Foreign Ministry spokesperson Esmaeil Baghaei said the Islamic Republic had received the views of the American side and is "reviewing" it, CNBC cited the state-run agency Nour News.Meanwhile, Iran's Supreme Leader Ayatollah Mojtaba Khamenei ordered enriched uranium to remain in the Islamic Republic, Reuters reported Thursday, citing two senior sources from the country. However, Tehran will "downblend" the nuclear material itself, an Iranian official told Al Jazeera.Iran is also discussing with Oman ways to set up a permanent toll system to formalize its control of maritime traffic through the Strait of Hormuz, Bloomberg reported. "Iran and Oman must mobilize all their resources both to provide security services and to manage navigation, in the most appropriate manner," the Iranian ambassador to France, Mohammad Amin-Nejad, said in an interview with Bloomberg in Paris on Wednesday.West Texas Intermediate crude oil futures jumped 2.1% to $100.34, and Brent crude futures climbed 1.4% to $106.53 as Trump has previously said that Iran cannot have nuclear weapons and control Hormuz, the chokepoint to about a fifth of global crude oil flows.Most US Treasury yields rose, with the 10-year leaning slightly higher to 4.57% and the two-year rising 2.4 basis points to 4.06%, reflecting concern that crude oil prices above $100 a barrel can push up the time it takes the Federal Reserve to restore price pressures to its 2% target.Late Wednesday, a majority of Federal Open Market Committee participants appeared to be leaning away from rate cuts for now and were open to the possibility of rate increases, minutes of the April 28-29 meeting showed."Several participants highlighted that it would likely be appropriate to lower the target range for the federal funds rate once there are clear indications that disinflation is firmly back on track or if solid signs emerge of greater weakness in the labor market," the minutes said.In economic news Thursday, US initial jobless claims fell to 209,000 in the week ended May 16 from an upwardly revised 212,000 in the previous week, compared with expectations for 210,000 in a Bloomberg-compiled survey.The May flash reading of manufacturing conditions from S&P Global rose to 55.3, a 48-month high, from 54.5 in April, compared with the 53.8 anticipated in a Bloomberg-compiled poll.April housing starts fell 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg for a 1.410 million rate. Building permits jumped 5.8% to a 1.442 million rate in April, above the 1.384 million rate expected and following a decrease to a 1.363 million rate in March. Homes permitted but not started decreased, so the outlook is mixed for a rebound in starts next month.In company news, Nvidia (NVDA) reported overnight stronger-than-expected fiscal Q1 adjusted earnings and revenue, beating market expectations. The chipmaker also unveiled an additional $80 billion share repurchase authorization and raised its quarterly dividend.

Dow JonesNasdaq CompositeS&P 500$NVDA
Asia Markets

Exchange-Traded Funds Mixed, US Equities Decline After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM edged higher and IVV fell. Actively traded Invesco QQQ Trust (QQQ) shed 0.5%.US equity indexes fell, pressured by higher crude oil and Treasury yields, amid concern that Iran's nuclear ambitions could breach President Donald Trump's red lines.EnergyIShares US Energy ETF (IYE) rose 0.1% and the State Street Energy Select Sector SPDR (XLE) fell fractionally.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was marginally down; iShares US Technology ETF (IYW) lost 0.3%, and iShares Expanded Tech Sector ETF (IGM) fell less than 0.1%.The State Street SPDR S&P Semiconductor (XSD) gained 1.1%, and iShares Semiconductor (SOXX) was down 0.2%.FinancialThe State Street Financial Select Sector SPDR (XLF) dipped 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) declined 1.2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), climbed 1.3%.CommoditiesCrude oil rose 2.1%, and the United States Oil Fund (USO) added 1.7%. Natural gas advanced 1.1%, and the United States Natural Gas Fund (UNG) was down 0.2%.Gold on Comex slipped 0.3% and the State Street SPDR Gold Shares (GLD) shed 0.6%. Silver gained 0.1%, and iShares Silver Trust (SLV) fell fractionally.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) eased 1.4%. The Vanguard Consumer Staples ETF (VDC) fell 1.8%, and iShares Dow Jones US Consumer Goods (IYK) was down 0.1%.The State Street Consumer Discretionary Select Sector SPDR (XLY) dipped 0.3%. VanEck Retail ETF (RTH) was down 1.5%, and the State Street SPDR S&P Retail (XRT) shed 0.7%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) gained 0.1%, iShares US Healthcare (IYH) rose fractionally and Vanguard Health Care ETF (VHT) was up 0.1%. IShares Biotechnology ETF (IBB) fell marginally.IndustrialThe State Street Industrial Select Sector SPDR (XLI) eased 0.8%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 0.8%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) dipped 0.9%, ProShares Ether ETF (EETH) was down 0.3%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 1.2% higher.

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

US Equity Indexes Decline as Iran's Efforts to Keep Enriched Uranium Risk Fallout With Trump

US equity indexes fell, pressured by higher crude oil and Treasury yields, amid concern that Iran's nuclear ambitions could breach President Donald Trump's red lines.The Nasdaq Composite fell by 0.5% to 26,136.5, with the S&P 500 down 0.4% to 7,404.4 and the Dow Jones Industrial Average lower by 0.2% to 49,888.2 in midday trading Thursday.Iran's Supreme Leader Ayatollah Mojtaba Khamenei has ordered enriched uranium to remain in the Islamic Republic, Reuters reported Thursday, citing two senior sources from the country. On Wednesday, President Trump warned of resuming military action if Tehran does not provide "100% good answers" in negotiations facilitated by a trio of Gulf nations, CNBC reported.Mediator Pakistan stepped up efforts to achieve progress in talks that Trump warned are on the "borderline" between a deal and renewed strikes, Al Jazeera reported.Meanwhile, Iran is discussing with Oman how to set up some form of a permanent toll system that will formalize its control of maritime traffic through the Strait of Hormuz, Bloomberg reported.West Texas Intermediate crude oil futures jumped 2.4% to $100.55, and Brent crude futures climbed 2% to $107.14 as Trump has previously said that Iran cannot have nuclear weapons and control Hormuz, the chokepoint to about a fifth of global crude oil flows.US Treasury yields rose, with the 30-year up 2.2 basis points to 5.14%, heading back toward its highest since 2007, as higher crude oil prices can increase the challenge facing the Federal Reserve to tame inflationary pressures. The 10-year climbed 3.9 basis points to 4.61%, aiming to return to its strongest level in more than a year.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Thursday Amid Uncertainty Surrounding US-Iran Talks

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.6% lower in Thursday's premarket activity amid increasing uncertainty about the progress of any talks between the US and Iran.US stock futures were also lower, with S&P 500 Index futures down 0.3%, Dow Jones Industrial Average futures slipping 0.2%, and Nasdaq futures retreating 0.5% before the start of regular trading.US initial jobless claims fell to a level of 209,000 in the employment survey week ended May 16 from an upwardly revised 212,000 level in the previous week, compared with expectations for a smaller decrease to 210,000 in survey of analysts compiled by Bloomberg as of 7:30 am ET.April housing starts fell by 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg as of 7:30 am ET for a 1.410 million rate after an increase to a 1.507 million pace in March.April housing starts fell by 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg as of 7:30 am ET for a 1.410 million rate after an increase to a 1.507 million pace in March.The Philadelphia Federal Reserve's monthly manufacturing index fell to minus 0.4 in May after rising to 26.7 in April, compared with expectations for a smaller decrease to a reading of 17.8 in a survey compiled by Bloomberg.Traders will be looking ahead to the S&P global flash estimates of May manufacturing and services conditions, which are slated for a 9:45 am ET release, followed by weekly natural gas stocks at 10:30 am ET.The Kansas City Fed's manufacturing index for May will be released at 11 am ET.Richmond Fed President Tom Barkin is due to speak on Thursday.In premarket activity, bitcoin was down by 0.5%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% lower, Ether ETF (EETH) declined 1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) retreated by 0.6%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was flat.Nanobiotix (NBTX) stock was down more than 7% premarket after the company said it launched a global follow-on offering of 75 million euros ($87.2 million).Winners and Losers:EnergyThe iShares US Energy ETF (IYE) gained 0.2%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.5%.Borr Drilling (BORR) stock was down more than 7% before the opening bell after the company reported a wider Q1 net loss.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was up 1%.Hyperliquid Strategies (PURR) shares were up more than 6% pre-bell a day after Chardan raised its price target for the company's stock to $9.75 from $8.45.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.1%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.Deere (DE) stock was down more than 3% before the opening bell after the company reported lower fiscal Q2 earnings.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.8%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.6%. The iShares US Consumer Staples ETF (IYK) was 3.5% higher. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) decreased by 0.2%, while the State Street SPDR S&P Retail ETF (XRT) declined by 0.4%.Kroger (KR) shares were down more than 3% pre-bell after closing the prior session with a 2.7% fall. Chief Executive Officer Greg Foran is looking to implement substantial price cuts to keep the company competitive, Bloomberg reported Thursday, citing an interview with the CEO.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.4%, and the iShares US Technology ETF (IYW) was 0.7% lower, while the iShares Expanded Tech Sector ETF (IGM) was up 0.01%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 04%, while the iShares Semiconductor ETF (SOXX) fell by 0.6%.AMD (AMD) shares were down more than 2% in premarket activity after closing the previous day with a 8% rise. The company said it plans to invest more than $10 billion in Taiwan's artificial intelligence ecosystem and is ramping production of its new EPYC processor in Taiwan using Taiwan Semiconductor Manufacturing's (TSM) 2-nanometer process technology.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.8% to $107.77 per barrel on the New York Mercantile Exchange. Natural gas was up 0.8% at $3.03 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 2.7%, while the United States Natural Gas Fund (UNG) was 0.7% lower.Gold futures for May retreated by 0.4% to $4,517.40 an ounce on the Comex. Silver futures declined by 1.1% to $75.36 an ounce. SPDR Gold Shares (GLD) was down by 0.9%, and the iShares Silver Trust (SLV) fell by 1.6%.

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

US Equity Futures Edge Lower Pre-Bell as Nvidia Stock Flat Despite Earnings Beat, Middle East Peace Talks Drag

US equity futures were edging lower pre-bell Thursday despite upbeat fiscal Q1 financial results posted by Nvidia (NVDA) and amid continued lack of solid progress in the Middle East peace talks.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 0.5% lower.In addition to surpassing analysts' expectations for fiscal Q1 adjusted earnings and revenue, Nvidia raised its quarterly dividend and announced an additional $80 billion share repurchase authorization. However, the company's stock was largely flat in premarket activity.President Donald Trump said the US was ready to resume attacks on Iran if its leadership did not agree to a peace deal, but that it could wait a few days. Iran's Supreme Leader has ordered the country's highly enriched uranium to not be sent abroad, which is one of the main US demands, according to a Reuters report citing two senior Iranian sources.Traders kept an eye on the latest round of earnings, with Walmart (WMT) posting higher fiscal Q1 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $106.80 per barrel and US West Texas Intermediate crude 2.4% higher at $100.62 per barrel.US initial jobless claims fell to a level of 209,000 in the employment survey week ended May 16 from an upwardly revised 212,000 level in the previous week, compared with expectations for a smaller decrease to 210,000 in survey of analysts compiled by Bloomberg as of 7:30 am ET.April housing starts fell by 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg as of 7:30 am ET for a 1.410 million rate after an increase to a 1.507 million pace in March.The Philadelphia Federal Reserve's monthly manufacturing index fell to minus 0.4 in May after rising to 26.7 in April, compared with expectations for a smaller decrease to a reading of 17.8 in a survey compiled by Bloomberg.The May S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen coming in at 53.8.Richmond Federal Reserve President Thomas Barkin is scheduled to speak on Thursday.In other world markets, Japan's Nikkei closed 3.1% higher, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 2% lower. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, Shell (SHEL) stock was up 1.2% and BP (BP) shares rose 1% after the companies, along with Indonesia's PT Perusahaan Gas Negara, and PT PLN Energi Primer Indonesia, signed agreements with Japan's Inpex for liquified natural gas offtake from the Abadi LNG Project at the Masela Block in offshore Indonesia. Shares of IBM (IBM), GlobalFoundries (GFS), and D-Wave Quantum (QBTS) were up after the companies said they are included among the major quantum companies set to receive billions in proposed US government backing. IBM stock was up 5.8%, GlobalFoundries shares rose 13%, and D-Wave Quantum stock was 15% higher.On the losing side, Intuit (INTU) stock was 16% lower after RBC and Northcoast Research cut their price targets for the stock. Palantir Technologies (PLTR) shares were down 1.2% following an Axios report about the company challenging Pentagon's Defense Intelligence Agency over its ability to bid for a contract to modernize the agency's data analytics system.

Dow JonesNasdaq CompositeS&P 500$BP$GFS$IBM$INTU$NVDA$PLTR$QBTS$SHEL$WMT
Japan

US Equity Futures Fall Pre-Bell as Nvidia Stock Flat Despite Earnings Beat, Middle East Peace Talks Drag

US equity futures were falling pre-bell Thursday despite upbeat fiscal Q1 financial results posted by Nvidia (NVDA) and amid continued lack of solid progress in the Middle East peace talks.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.3%, and Nasdaq futures were 0.5% lower.In addition to surpassing analysts' expectations for fiscal Q1 adjusted earnings and revenue, Nvidia raised its quarterly dividend and announced an additional $80 billion share repurchase authorization. However, the company's stock was largely flat in premarket activity.President Donald Trump said the US was ready to resume attacks on Iran if its leadership did not agree to a peace agreement, but that it could wait a few days. Iran's Supreme Leader has ordered the country's highly enriched uranium to not be sent abroad, which is one of the main US demands, according to a Reuters report citing two senior Iranian sources.Traders kept an eye on the latest round of earnings, with Walmart (WMT) posting higher fiscal Q1 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $106.80 per barrel and US West Texas Intermediate crude 2.2% higher at $100.45 per barrel.The weekly jobless claims bulletin, scheduled for release at 8:30 am ET, is expected to show 210,000 new unemployment claims for the week ended May 16, compared with 211,000 in the prior week, according to estimates compiled by Bloomberg. Housing starts for April are expected to come in at 1.41 million.The Philadelphia Fed's regional manufacturing index for May is seen coming in at 17.8, down from 26.7 posted previously.The May S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen coming in at 53.8.Richmond Federal Reserve President Thomas Barkin is scheduled to speak on Thursday.

Dow JonesNasdaq CompositeS&P 500$NVDA$WMT
Stocks Down Pre-Bell as Traders Monitor US-Iran Developments, Parse Nvidia Earnings
US Markets

Stocks Down Pre-Bell as Traders Monitor US-Iran Developments, Parse Nvidia Earnings

US equity markets were trending lower before the opening bell Thursday as traders monitor the latest developments in the US-Iran conflict and digest tech bellwether Nvidia's (NVDA) quarterly earnings.The S&P 500 fell 0.4% and the Dow Jones Industrial Average slipped 0.3% in premarket activity, while the Nasdaq was down 0.5%. The indexes finished the previous trading session higher, with the Nasdaq and S&P 500 snapping a three-day losing streak.Iranian Foreign Ministry spokesperson Esmaeil Baghaei said Thursday that Tehran is reviewing the latest US proposal to end the war in the Middle East, CNBC reported, citing state-run agency Nour News.President Donald Trump told reporters on Wednesday that negotiations with Iran had reached the final stages, though he warned of further attacks if Tehran backs out, according to several media outlets. "We'll either have a deal or we're going to do some things that are a little bit nasty," Trump said, according to a Bloomberg News report. "But hopefully that won't happen."Earlier on Wednesday, Iran's Islamic Revolutionary Guard Corps reportedly said that it would retaliate beyond the Middle East if the US or Israel resumed their military attacks against the country.West Texas Intermediate crude oil slipped 0.2% to $98.01 a barrel before the open, while Brent decreased 0.6% to $104.42.Shares of Nvidia (NVDA) slipped 0.2% pre-bell after the chipmaking giant reported fiscal first-quarter revenue above Wall Street's estimates, as data center sales outperformed expectations amid an artificial intelligence boom. For the current quarter, Nvidia said it anticipates revenue of $91 billion, plus or minus 2%.Intuit's (INTU) stock dropped 14% after the financial technology platform reported better-than-expected fiscal third-quarter results and disclosed plans to reduce its workforce by about 17%. Urban Outfitters (URBN) declined 1.4% after its financial results.Federal Reserve officials flagged the possibility of higher interest rates if the Middle East conflict drags on and keeps inflation above the 2% goal, minutes from the central bank's April meeting showed on Wednesday.Meeting participants generally determined that elevated inflation, combined with uncertainty around the duration and impact of the Iran war, could justify holding rates for longer than previously anticipated. However, majority of Fed officials pointed out that "some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%."Treasury yields were rising before the open, with the two-year rate gaining 6.6 basis points to 4.1% and the 10-year rate adding 5.1 basis points to 4.62%.Thursday's economic calendar has the housing starts and permits report for April at 8:30 am ET, along with the weekly jobless claims bulletin and the Philadelphia Fed manufacturing index for May. The S&P Global's (SPGI) flash purchasing managers' index for May is out at 9:45 am, followed by the Kansas City Fed manufacturing index for the same month at 11 am.Richmond Fed President Thomas Barkin is scheduled to speak at 12:20 pm.Walmart (WMT), Deere (DE), NetEase (NTES), Williams-Sonoma (WSM), Ralph Lauren (RL), Nio (NIO) and Advance Auto Parts (AAP) report their latest financial results before the bell, among others. Ross Stores (ROST), Take-Two Interactive Software (TTWO), Workday (WDAY), Zoom Communications (ZM) and Deckers Outdoor (DECK) release their earnings after the markets close.Gold was down 0.4% at $4,519 per troy ounce, while bitcoin fell 0.3% to $77,255.

Dow JonesNasdaq CompositeS&P 500$AAP$DE$DECK$INTU$NIO$NTES$NVDA$RL$ROST$SPGI$TTWO$URBN$WDAY$WMT$WSM$ZM
International

Uncertain Persian Gulf Outlook Damps Wall Street Pre-Bell; Asia Up, Europe Off

Wall Street futures pointed moderately lower pre-bell Thursday as traders again weighed the odds of a Persian Gulf peace deal and pondered rich tech-sector valuations.After Wednesday's rallies, S&P 500 futures fell 0.4%, Nasdaq futures declined 0.6%, and Dow Jones futures were off 0.3%.Nvidia (NVDA) shares hardly budged in morning action after the chip colossus reported strong earnings and upbeat guidance overnight, along with boosted dividends and a stock buyback plan.West Texas Intermediate crude oil traded up 2.7% at $100.95 barrel in morning action.Asian exchanges traded mostly higher overnight, including an 8.4% rise by Seoul's KOSPI index, on lower oil prices during trading hours and tech-sector optimism.European bourses tracked lower at midday on the continent.Intuit (INTU) traded down 14.3% pre-bell after the software enterprise reported earnings late Wednesday and disclosed plans for a large reduction in payrolls. AI advancements are forcing changes in Intuit's business model.Retail titan Walmart (WMT) is slated to report earnings pre-bell.On the economic calendar is the housing starts and permits bulletin for April, the weekly jobless claims report, and the Philadelphia Fed Manufacturing Index for May, at 8:30 am ET.The flash S&P Global US purchasing managers index (PMI) for May logs at 9:45 am.The weekly EIA natural gas report posts at 10:30 am, followed by the Kansas City Fed Manufacturing Index for May at 11 am.Richmond Federal Reserve President Thomas Barkin speaks on Thursday.In pre-market action, Bitcoin traded at $77,297, and 10-year US Treasuries offered 4.62%. Spot gold commanded $4,514 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

US Equity Indexes Jump Amid Sliding Treasury Yields, Crude Oil as Trump Says Iran Talks in Final Stages

US equity indexes jumped at the close on Wednesday as government bond yields sank amid a slide in crude oil futures after President Donald Trump talked up expectations for an Iran peace agreement.The Nasdaq Composite advanced 1.6% to 26,270.36, with the S&P 500 up 1.1% to 7,432.97 and the Dow Jones Industrial Average higher by 1.3% to 50,009.35 on Wednesday.Consumer discretionary and technology topped the sector charts. Energy was the worst performer.US equity indexes closed higher on Wednesday in anticipation of strong results from the tech bellwether and AI poster child, Nvidia (NVDA). The chipmaker reported after the bell stronger-than-expected fiscal Q1 adjusted earnings and revenue, beating market expectations. The chipmaker unveiled an additional $80 billion share repurchase authorization and raised its quarterly dividend.Meanwhile, Iran negotiations are in the final stages, Reuters cited President Donald Trump as saying on Wednesday. The US president reiterated his warning of further attacks unless Tehran agrees to a deal."We're in the final stages of Iran. We'll see what happens," Trump was cited as telling reporters. "Either have a deal, or we're going to do some things that are a little bit nasty, but hopefully that won't happen.""If aggression against Iran is repeated, the promised regional war will extend beyond the region this time," Reuters cited the Revolutionary Guards as saying in a statement.Brent crude futures slumped 5.7% to $104.91.US Treasury yields fell, with the 30-year down 6.6 basis points to 5.11%, retreating from its highest since 2007. The 10-year dropped 9.3 basis points to 4.58%, also declining from its strongest level in more than a year.In precious metals, gold futures rose 0.8% to $4,548.2, and silver futures climbed 1.5% to $76.27.A majority of FOMC participants appear to be leaning away from rate cuts for now and were open to the possibility of rate increases, minutes of the April 28-29 meeting released Wednesday showed."Several participants highlighted that it would likely be appropriate to lower the target range for the federal funds rate once there are clear indications that disinflation is firmly back on track or if solid signs emerge of greater weakness in the labor market," the minutes said."A majority of participants highlighted, however, that some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%," according to the minutes.

Dow JonesNasdaq CompositeS&P 500$NVDA
Equity Markets Rebound Following Fed Minutes; Yields Tumble
US Markets

Equity Markets Rebound Following Fed Minutes; Yields Tumble

US stocks rebounded Wednesday as traders parsed minutes of the Federal Reserve's latest monetary policy meeting, while Treasury yields slid.The Nasdaq Composite rose 1.5% to 26,270.4, while the S&P 500 advanced 1.1% to 7,433, both rising after a three-day fall. The Dow Jones Industrial Average added 1.3% to 50,009.4. Most sectors ended in the green, led by consumer discretionary, while energy saw the biggest drop.Fed officials flagged the possibility of higher interest rates if the Middle East conflict drags on and keeps inflation above the 2% goal, minutes from the central bank's April meeting showed.Meeting participants generally determined that elevated inflation, combined with uncertainty around the duration and impact of the Iran war, could justify holding rates for longer than previously anticipated, the meeting minutes showed.However, majority of Fed officials pointed out "that some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%.""The discussion at the April meeting suggests the (Federal Open Market Committee) is becoming increasingly worried about the inflation outlook," Sal Guatieri, senior economist at BMO Capital Markets, said in a report. "While it is in no rush to raise rates, that possibility will only grow if inflation remains stubbornly high."Treasury yields plunged in Wednesday late-afternoon trade, with the 10-year yield rate declining 9.6 basis points to 4.58% and the two-year rate retreating 7.4 basis points to 4.05%.Bond yields have surged amid mounting concerns about inflation. Higher yields drove a sell-off in stocks on Tuesday, according to Macquarie."The state of play now and following the end of earnings season, is that stock indexes are likely to remain sensitive to what happens to long-term yields," Macquarie said in note Wednesday. "Should yields go higher (for whatever reason), stocks will slip further."West Texas Intermediate crude oil was last down 5.5% at $98.47 a barrel, while Brent fell 5.6% to $105.03.US President Donald Trump said on Wednesday that negotiations with Iran had reached the final stages, though he warned of further attacks if Tehran backs out, according to a Reuters report.Shares of airlines and cruise operators were notable gainers on Wednesday, with United Airlines (UAL) up 10%, the top gainer on S&P 500. Delta Air Lines (DAL) jumped 9.4%, among the best performers on the index, along with Carnival (CCL) and Norwegian Cruise Line (NCLH).In other company news, Hasbro (HAS) reported a first-quarter operating loss for the consumer products division even as the toymaker delivered stronger-than-expected results at the consolidated level. The stock slid 8.8%, the worst performer on the S&P 500.Target (TGT) shares fell 3.9%, among the steepest declines on the S&P 500. The retailer lifted its full-year sales growth outlook as it recorded higher-than-expected fiscal first-quarter results.TJX (TJX) raised its full-year outlook after posting stronger-than-expected fiscal first-quarter results, with comparable sales rising across all segments. The stock climbed 5.6%.Gold was last up 0.8% at $4,549.30 per troy ounce, while silver rose 1.8% to $76.48 per ounce.

Dow JonesNasdaq CompositeS&P 500$CCL$DAL$HAS$NCLH$NVDA$TGT$TJX$UAL
Japan

US Equity Markets Close Higher as Oil Prices Fall, Tech Gains Ahead of Nvidia Results

US equity indexes ended higher on Wednesday after crude oil prices fell and the tech sector rose ahead of Nvidia's (NVDA) results.* President Donald Trump said negotiations with Iran are in the final stages, though he warned of further attacks unless Tehran agrees to a deal, Reuters reported.* Nvidia's (NVDA) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said.* A majority of FOMC participants appear to be leaning away from rate cuts for now and were open to the possibility of rate increases, minutes of the April 28-29 meeting released Wednesday showed.* July West Texas Intermediate crude oil fell $5.76 to settle at $98.39 per barrel, while July Brent crude, the global benchmark, was last seen down $6.30 at $104.98.* United Airlines (UAL) shares rose 10%, the biggest gain on the S&P 500, a day after the company forecast double-digit increases in demand this summer, with more than 53 million passengers from June to August, up 3 million from a year earlier.* Hasbro (HAS) shares fell 8.8%, the steepest decline on the S&P, after the company reported a Q1 operating loss for the consumer products division amid flat sales.

Dow JonesNasdaq CompositeS&P 500$HAS$NVDA$UAL
Japan

US Equity Indexes Jump Ahead of Nvidia's Quarterly Results

US equity indexes jumped ahead of Nvidia's (NVDA) earnings and as government bond yields sank amid a slide in crude oil futures.The Nasdaq Composite jumped 1.4% to 26,221.2, with the S&P 500 up 1% to 7,426.5 and the Dow Jones Industrial Average higher by 1.3% to 50,023.7 ahead of Wednesday's close.Nvidia's (NVDA) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said in a note. The brokerage maintained its buy rating on the Nvidia stock, with a $320 price objective, citing its "dominance in the fastest growing tech market and its compelling valuation."Iran negotiations are in the final stages, Reuters cited President Donald Trump as saying on Wednesday. But the US president warned of further attacks unless Tehran agrees to a deal.West Texas Intermediate crude oil futures dropped 5.7% to $98.19, while Brent crude futures slumped 5.7% to $104.91.US Treasury yields fell, with the 30-year down seven basis points to 5.11%, retreating from its highest since 2007. The 10-year dropped 9.9 basis points to 4.57%, also declining from its strongest level in more than a year.A majority of FOMC participants appear to be leaning away from rate cuts for now and were open to the possibility of rate increases, minutes of the April 28-29 meeting released Wednesday showed.

Dow JonesNasdaq CompositeS&P 500$NVDA

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