Nasdaq Composite

Update: US Equity Indexes Retreat as Benchmark Bond Yield Hits 19-Year High Ahead of Fed Rate Increase While Crude Oil Prices Jump

(Updates with index/price moves, comments and geopolitical news from the first paragraph.)US equity indexes fell as the 10-year Treasury yield touched a 19-year high amid near certainty that the Federal Reserve will increase interest rates, and crude oil surged as the war against Iran draws in Saudi Arabia.The Nasdaq Composite fell 0.8% to 25,981.57, the S&P 500 declined 0.5% to 7,585.73, and the Dow Jones Industrial Average dropped 0.6% to 52,093.11 on Tuesday.All sectors except energy and materials fell, with consumer discretionary leading decliners."Stocks are falling basically everywhere but not by much, and on rate and inflation fears plus AI fears either having to do with concern about slowing momentum or the cheery news from AI researchers that all profits will go to zero by decade's end," Derek Holt, head of capital market economics at Scotiabank, said in a note.The Federal Reserve kicked off its two-day monetary policy meeting on Tuesday. Ahead of the Fed's announcements on Wednesday, interest rate traders are now pricing in a 95% probability that the central bank will raise its target rate by 25 basis points, up from 33% a month ago, according to the CME FedWatch tool.Morgan Stanley expects another interest-rate increase in December, following a move up on Wednesday, and then a pause, as the US investment bank anticipates inflation will moderate, according to a research note."We see arguments for both a hike and a hold, but signs of second-round effects from energy prices, strong demand tied to AI-related investment, a neutral rate that is possibly temporarily higher, and concerns about credibility mean the balance of risks now argues for a somewhat more restrictive policy," the research note said. "We expect the [Summary of Economic Projections] to show a median of two hikes this year followed by one cut each in 2027 and 2028."The US Treasury's 20-year auction hit a high yield of 5.420% on Tuesday, up from 5.204% in the previous auction, further evidence that the government is paying more for its borrowings. The bid-to-cover ratio was 2.57, up from 2.53 in the previous auction.Most US Treasury yields were higher in the final leg of trading. The 10-year yield jumped 4.5 basis points to 5.01%, earlier touching 5.04%, the highest since 2007. The two-year yield advanced 3.9 basis points to 4.67%.Saudi Arabia issued security alerts over a range of territory on Tuesday, including in the holy city of Mecca and the second-largest city, Jeddah, following a week of attacks from Iran-aligned fighters that have drawn it deeper into the Middle East war, Reuters reported. The Iran-aligned Houthis in Yemen have carried out attacks on Saudi Arabia over the past week, including strikes on an air base on Monday, the news agency said.The front-month US West Texas Intermediate crude oil contract surged 4.4% to $105.88 per barrel, and the global benchmark North Sea Brent jumped 2.8% to $108.61 per barrel.Gold futures fell 0.4% to $4,334.5, and silver futures were steady at $64.13.President Donald Trump's acknowledgment that he expects the war to end after the midterms, and winter creeping closer, may be prompting financial markets to reassess this geopolitical deterioration, Walt Chancellor, an energy strategist at Macquarie, said in a note.

Dow JonesNasdaq CompositeS&P 500$AXON$QRVO$SWKS

US Equity Markets End Lower as 10-Year Treasury Yield Climbs to Highest Since 2007, Oil Jumps

US equity indexes ended lower Tuesday after US 10-year Treasury yields rose to the highest since 2007 and oil prices climbed further.* Saudi Arabia issued security alerts over a range of areas, including Mecca and Jeddah, following a week of attacks from Iran-aligned fighters that have drawn it deeper into the Middle East war, Reuters reported.* Ahead of the Federal Reserve's monetary policy meeting on Wednesday, the likelihood of an interest rate increase by 25 basis points rose to 94.5% from 33.1% a month earlier, according to the CME FedWatch tool.* West Texas Intermediate crude oil rose $4.63 to settle at $106.02 per barrel, while global benchmark Brent was last seen up $3.08 at $108.76.* Axon Enterprise (AXON) shares fell 9.8%, the steepest decline on the Nasdaq, as the company intends to offer $1 billion of 0% convertible senior notes due 2031.* Skyworks Solutions (SWKS) shares rose 14%, the biggest gain on the S&P 500, on improving sentiment tied to Apple's (AAPL) new product line and progress on the Qorvo (QRVO) merger. Qorvo shares rose 9.3%.

US Markets4d ago

Update: Equities Log Back-to-Back Declines Before Fed Decision as Yields, Oil Jump

(Updates with market moves at the end of the day, and other changes, if any.)US stocks dropped for a second consecutive session on Tuesday as traders fretted over surging bond yields and oil prices while bracing for an interest rate hike from the Federal Reserve.The Nasdaq Composite shed 0.8% to close at 25,981.57, while the Dow Jones Industrial Average fell 0.6% to 52,093.11. The S&P 500 dipped 0.5% to 7,585.73. Except energy and materials, all sectors ended in the red, led by consumer discretionary.The Federal Open Market Committee began its two-day policy meeting on Tuesday.Markets are now pricing in a 95% probability that the FOMC will hike its benchmark lending rate by 25 basis points, according to the CME FedWatch tool.Goldman Sachs said the Fed will likely avoid disappointing markets.Treasury yields were higher, with the 10-year yield up 4.3 basis points at 5.004%. It hit 5.041% earlier in the day, the highest since July 2007, CNBC reported. The two-year yield advanced 3.7 basis points to about 4.7%.West Texas Intermediate crude oil jumped 4.4% to $105.81 a barrel in Tuesday late-afternoon trade, while Brent climbed 2.8% to $108.63.Crude loadings at Saudi Arabia's Red Sea export terminal in Yanbu had been halted, Reuters reported Tuesday, citing shipping industry sources. Saudi Arabia -- which is the world's biggest oil exporting nation -- has notified European customers of its decision to cancel some crude cargoes scheduled for late-September delivery, according to the news agency.Separately, Libya halted operations at three oil fields, though the issue was not related to the US-Iran conflict, Reuters reported.These developments come as Saudi's key East-West crude oil pipeline remained shut following recent attacks by Yemen's Iran-aligned Houthis."The East-West pipeline is expected to remain out of service for several weeks, and without a pickup in flows through the Strait of Hormuz, its closure will further exacerbate an already tight global supply situation," Saxo Bank said Tuesday in a report.In company news, Axon Enterprise (AXON) shares tumbled 9.8%, the second-worst performer on the S&P 500. The company said it intends to offer $1 billion of 0% convertible senior notes due 2031 in a public offering.Salesforce (CRM) is expanding its partnerships with Nvidia (NVDA), Alphabet's (GOOG, GOOGL) Google Cloud, and Amazon.com's (AMZN) Amazon Web Services to strengthen its agentic enterprise capabilities and expand its artificial intelligence footprint across third-party infrastructure.Shares of Salesforce fell 1.5%. Alphabet and Amazon also dropped, while Nvidia edged higher.Spot gold edged down 0.1% to $4,296.37 per troy ounce, while silver rose 0.1% to $64.20 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMZN$AXON$CRM$GOOG$GOOGL$NVDA

Update: US Equity Indexes Drop as 10-Year Yield Hits 19-Year High, Crude Oil Prices Surge

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes fell as the 10-year Treasury yield touched a 19-year high and crude oil extended gains, reflecting a strong likelihood of an interest-rate increase this week amid a worsening Iran war.The Nasdaq Composite fell 0.9% to 25,956.1, the S&P 500 declined 0.5% to 7,579.5, and the Dow Jones Industrial Average dropped 0.7% to 52,059.7 ahead of Tuesday's close. All sectors except energy and materials slid, with consumer discretionary leading decliners.The Federal Reserve kicked off its two-day monetary policy meeting on Tuesday. Ahead of the Fed's announcements on Wednesday, interest rate traders are now pricing in a 95% probability that the central bank will raise its target rate by 25 basis points, up from 33% a month ago, according to the CME FedWatch tool.Most US Treasury yields rose. The 10-year yield jumped 3.9 basis points to 5%, earlier touching 5.04%, the highest since 2007. The two-year yield advanced 3.1 basis points to 4.67%.Saudi Arabia issued security alerts over a range of territory on Tuesday, including in the holy city of Mecca and the second-largest city, Jeddah, following a week of attacks from Iran-aligned fighters that have drawn it deeper into the Middle East war, Reuters reported. The Iran-aligned Houthis in Yemen have carried out attacks on Saudi Arabia over the past week, including strikes on an air base on Monday, the news agency said.The front-month US West Texas Intermediate crude oil contract surged 4.2% to $105.64 per barrel, and the global benchmark North Sea Brent jumped 2.6% to $108.41 per barrel.

Dow JonesNasdaq CompositeS&P 500$AMZN$AXON$CRM$GOOG$GOOGL$NVDA

US Markets4d ago

Update: Equities Fall Intraday as Yields, Oil Surge Ahead of Fed Decision

(Updates with latest market prices and developments.)US benchmark equity indexes fell intraday as bond yields and oil prices jumped ahead of the Federal Reserve's interest rate decision due on Wednesday.The Dow Jones Industrial Average was down 0.9% at 51,956.4 after midday Tuesday, while the Nasdaq Composite shed 0.8% to 25,972.8. The S&P 500 dipped 0.5% to 7,579.3. Except energy and materials, all sectors were in the red, led by consumer discretionary.The Federal Open Market Committee began its two-day policy meeting on Tuesday.Markets are currently pricing in a 93% probability that the FOMC will hike its benchmark lending rate by 25 basis points, according to the CME FedWatch tool.Goldman Sachs said the Fed will likely avoid disappointing markets that almost fully price in an interest rate increase.Treasury yields were higher, with the 10-year yield up 5.1 basis points at 5.012%. It hit 5.041% earlier in the day, the highest since July 2007, CNBC reported. The two-year yield advanced 3.5 basis points to about 4.7%.West Texas Intermediate crude oil jumped 5% to $106.41 a barrel, while Brent climbed 3.3% to $109.15.Oil loadings at Saudi Arabia's Red Sea export terminal in Yanbu had been halted, Reuters reported Tuesday, citing shipping industry sources. The news agency also reported the suspension of operations at three oil fields in Libya, but the issue was not related to the US-Iran conflict.Last week, Saudi Arabia shut down its key East-West crude oil pipeline in the Riyadh and Madinah regions as a precautionary measure. Yemen's Iran-aligned Houthis reportedly launched strikes on Saudi energy infrastructure in recent days."The East-West pipeline is expected to remain out of service for several weeks, and without a pickup in flows through the Strait of Hormuz, its closure will further exacerbate an already tight global supply situation," Saxo Bank said Tuesday in a report.In company news, Axon Enterprise (AXON) shares tumbled nearly 11% intraday, the worst performer on the S&P 500. The company said it intends to offer $1 billion of 0% convertible senior notes due 2031 in a public offering.Salesforce (CRM) is expanding its partnerships with Nvidia (NVDA), Alphabet's (GOOG, GOOGL) Google Cloud, and Amazon.com's (AMZN) Amazon Web Services to strengthen its agentic enterprise capabilities and expand its artificial intelligence footprint across third-party infrastructure.Shares of Salesforce were up 0.5% intraday. Nvidia was also edging higher, while Alphabet and Amazon were trading lower.Spot gold edged down 0.1% to $4,296.53 per troy ounce, while silver dipped 0.4% to $63.89 per ounce.

Dow JonesNasdaq CompositeS&P 500$AXON$GS

Update: US Equity Indexes Decline as Benchmark Treasury Yield Hits Highest in Almost Two Decades, Crude Oil Jumps

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes fell as the 10-year Treasury yield touched a 19-year high ahead of a widely anticipated interest rate increase and after crude oil jumped.The Nasdaq Composite fell 0.7% to 25,997.3, the S&P 500 declined 0.4% to 7,586.1, and the Dow Jones Industrial Average dropped 0.8% to 52,001.7 after midday Tuesday. All sectors except energy and materials retreated. Consumer discretionary and communication services led decliners.The Federal Reserve kicked off its two-day monetary policy meeting on Tuesday. Ahead of the Fed's announcements on Wednesday, interest rate traders are now pricing in a 93% probability that the central bank will raise its target rate by 25 basis points, up from 33% a month ago, according to the CME FedWatch tool.Morgan Stanley expects another interest-rate increase in December, following a move up on Wednesday, and then pauses as the US investment bank anticipates inflation will moderate, according to a research note."We see arguments for both a hike and a hold, but signs of second-round effects from energy prices, strong demand tied to AI-related investment, a neutral rate that is possibly temporarily higher, and concerns about credibility mean the balance of risks now argues for a somewhat more restrictive policy," the research note said. "We expect the [Summary of Economic Projections] to show a median of two hikes this year followed by one cut each in 2027 and 2028."Most US Treasury yields rose. The 10-year yield jumped 4.9 basis points to 5.01%, earlier touching 5.04%, the highest since 2007. The two-year yield advanced 2.5 basis points to 4.66%.Yemen's Iran-aligned Houthis launched a new wave of attacks on Saudi Arabia and were digging into positions on the western coast of Yemen along the Red Sea, Yemeni officials said, as urgent deliberations took place in Riyadh over how to respond to their lightning advance, according to a Reuters news report.Iran's semi-official Fars news agency reported that the Iran Revolutionary Guards Corps has shot down another US-developed MQ-1 drone over Hormuz, Al Jazeera, a Middle Eastern broadcaster, said. This is the third such drone downed in the area on Tuesday, the report said, citing the IRGC.The front-month US West Texas Intermediate crude oil contract surged 4.5% to $105.96 per barrel, and the global benchmark North Sea Brent jumped 3.1% to $108.76 per barrel.Gold futures fell 0.4% to $4,336.9, and silver futures slipped 0.3% to $63.95.In company news, Axon Enterprise (AXON) slumped 11%, the worst performer on the S&P 500, after the company said it intends to offer $1 billion of 0% convertible senior notes due 2031 in a registered public offering.Goldman Sachs' (GS) asset management alternatives unit has raised $11.7 billion across its newest private equity funds and other vehicles, Reuters reported Tuesday, citing a statement and an interview with an executive. Goldman shares declined 2.8%, the worst performer on the Dow.

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

Exchange-Traded Funds, US Equities Fall After Midday

Broad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) fell 0.6%.US equity indexes declined after the 10-year benchmark government bond yield hit a 19-year high and crude oil jumped as a Tehran-aligned militia group continues to pull Saudi Arabia into the Iran war.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) gained 2%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) shed 0.1%, while iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) declined 0.3% each.The State Street SPDR S&P Semiconductor (XSD) advanced 0.8%, while iShares Semiconductor (SOXX) fell 0.1%.FinancialThe State Street Financial Select Sector SPDR (XLF) dropped 0.8%. Direxion Daily Financial Bull 3X Shares (FAS) was 2.6% lower, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), rose 2.5%.CommoditiesCrude oil gained 4.2%, and the United States Oil Fund (USO) was 3.5% higher. Natural gas increased 0.5%, and the United States Natural Gas Fund (UNG) advanced 1.2%.Gold on Comex declined 0.4%, and the State Street SPDR Gold Shares (GLD) rose 0.3%. Silver dropped 0.4%, and iShares Silver Trust (SLV) increased 0.9%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) declined 0.7%. The Vanguard Consumer Staples ETF (VDC) was down 0.6%, and iShares Dow Jones US Consumer Goods (IYK) fell 0.5%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was 1.2% lower. The VanEck Retail ETF (RTH) dropped 1.6%, and the State Street SPDR S&P Retail (XRT) dipped 2.1%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) and iShares US Healthcare (IYH) were 0.1% higher each, and Vanguard Health Care ETF (VHT) was fractionally lower, while iShares Biotechnology ETF (IBB) was down 0.9%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) was 0.2% lower. The Vanguard Industrials Index Fund (VIS) decreased 0.1%, and iShares US Industrials (IYJ) fell 0.3%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) decreased 3.1%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) dropped 3.4%, ProShares Ether ETF (EETH) shed 4.8%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was up 1.9%.

Update: US Equity Indexes Fall as Benchmark Treasury Yield Touches Highest in Almost Two Decades, Crude Oil Extends Gains

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes declined after the 10-year benchmark government bond yield hit a 19-year high and crude oil jumped as a Tehran-aligned militia group continues to pull Saudi Arabia into the Iran war.The Nasdaq Composite fell 0.6% to 26,029.1, the S&P 500 declined 0.5% to 7,583.2, and the Dow Jones Industrial Average dropped 1% to 51,917.5 after midday Tuesday. All sectors except energy retreated. Consumer discretionary and communication services led decliners.The Federal Reserve kicked off its two-day monetary policy meeting on Tuesday. Ahead of the Fed's announcements on Wednesday, interest rate traders are now pricing in a 93% probability that the central bank will raise its target rate by 25 basis points, up from 33% a month ago, according to the CME FedWatch tool.Most US Treasury yields rose. The 10-year yield jumped 5.1 basis points to 5.01%, earlier touching 5.04%, the highest since 2007. The two-year yield advanced 3.1 basis points to 4.67%.Yemen's Iran-aligned Houthis launched a new wave of attacks on Saudi Arabia and were digging into positions on the western coast of Yemen along the Red Sea, Yemeni officials said, as urgent deliberations took place in Riyadh over how to respond to their lightning advance, according to a Reuters news report.Iran's semi-official Fars news agency reported that the Iran Revolutionary Guards Corps has shot down another US-developed MQ-1 drone over Hormuz, Al Jazeera, a Middle Eastern broadcaster, said. This is the third such drone downed in the area on Tuesday, the report said, citing the IRGC.The front-month US West Texas Intermediate crude oil contract jumped 1.9% to $103.27 per barrel, and the global benchmark North Sea Brent rose 1.5% to $107.28 per barrel.

Dow JonesNasdaq CompositeS&P 500$ENVA$FAS$FAZ$FPS$GLD$IBB$IGM$IYE$IYH$IYJ$IYK$IYW$QQQ$RTH$SHEL$SLV$SOXX$SPY$SYY$TER$UNG$USO$VDC$VERA$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD

Commodities4d ago

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Tuesday as Traders Prepare for Fed Meeting

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.2%, and the actively traded Invesco QQQ Trust (QQQ) was 0.1% lower in Tuesday's premarket activity as traders prepare for the Federal Open Market Committee's meeting.US stock futures were also lower, with S&P 500 Index futures down 0.4%, Dow Jones Industrial Average futures slipping 0.5%, and Nasdaq futures retreating 0.4% before the start of regular trading.The New York Federal Reserve's Empire State manufacturing index fell to 7.6 in September from 20.6 in August, compared with a smaller expected decrease to a reading of 15.0 in a survey compiled by Bloomberg.In premarket action, bitcoin was down by 2.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.7% lower, Ether ETF (EETH) declined 2.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was up 1.1%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.3%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) and the iShares US Consumer Staples ETF (IYK) were inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail ETF (XRT) were inactive.Sysco (SYY) shares were down 2% after the company said late Monday it plans to launch an offering of $1 billion of its shares.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) and the iShares US Healthcare ETF (IYH) were inactive. The iShares Biotechnology ETF (IBB) was 0.5% lower.Vera Therapeutics (VERA) stock was 13% higher after the company said its kidney disease drug met all prespecified endpoints in a phase 3 trial final efficacy analysis.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.9% higher.Enova International (ENVA) shares were down 17% after the company withdrew its applications with the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System for the proposed acquisition of Grasshopper Bancorp.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.4%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.Forgent Power Solutions (FPS) shares were 8% higher after the company reported higher fiscal Q4 adjusted net income and revenue.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.01%, the iShares US Technology ETF (IYW) was 0.02% higher, and the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) rose by 0.9%.Teradyne (TER) stock was 1% higher after the company said it has opened an office in Bengaluru, India, in a bid to expand its footprint in the country.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.2%.Shell (SHEL) shares were advancing 0.3% after a similar retreat in the prior session. The company said it has started production at its new grease manufacturing plant in Indonesia with a capacity of up to 12 kilotonnes per year.CommoditiesFront-month US West Texas Intermediate crude oil was up by 1% at $102.41 per barrel on the New York Mercantile Exchange. Natural gas was down 0.6% at $2.88 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.5%, while the United States Natural Gas Fund (UNG) was 1.6% lower.Gold futures for November retreated by 0.7% to $4,322.00 an ounce on the Comex. Silver futures retreated by 0.7% to $63.69 an ounce. SPDR Gold Shares (GLD) was down by 0.1%, and the iShares Silver Trust (SLV) rose by 0.4%.

Dow JonesNasdaq CompositeS&P 500$ACN$AXON$NOK$RKLB$SYY$TER

Update: US Equity Futures Drop Pre-Bell as 10-Year Treasury Yield Surpasses 5% Ahead of Fed Decision

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging slightly lower pre-bell Tuesday as the 10-year Treasury yield hovered above 5% ahead of the Federal Reserve's interest-rate decision on Wednesday.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.1% lower.The benchmark 10-year Treasury yield climbed to its highest level since 2007, reaching as much as 5.041% before edging back to around 5%.President Donald Trump said that claims that artificial intelligence is "taking over the world" are a hoax, after tech leaders called for a slowdown in the advancement of AI models. "AI and Data Centers will be the Greatest Economic Development Engine in History -- Bigger than Oil, Gold, Diamonds, or even the Internet," Trump said in a post on Truth Social.The Federal Reserve policy session starts Tuesday and concludes with a rate announcement on Wednesday. There is a 92.5% chance the Fed will raise rates by 0.25%, according to the CME Group FedWatch indicator.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.7% at $106.38 per barrel and US West Texas Intermediate crude 1.3% higher at $102.73 per barrel.The New York Federal Reserve's Empire State manufacturing index decreased to 7.6 in September versus 20.6 in August, compared with expectations for a decline to a reading of 15.0 in a survey compiled by Bloomberg.In other world markets, Japan's Nikkei closed flat, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 0.5% lower. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 0.1% lower in Europe's early afternoon session.In equities, Accenture (ACN) stock was down 2.4% after a Bloomberg report Monday that the company has agreed to pay $25 million to resolve allegations by the US Department of Justice that it discriminated based on race and sex in hiring and promotion decisions. Sysco (SYY) shares fell 2% after the company said late Monday it priced a public offering of 12.3 million common shares at $81 each. Axon Enterprise (AXON) stock was 4.2% lower after the company said it intends to offer $1 billion of 0% convertible senior notes due 2031 in a registered public offering.On the winning side, Nokia (NOK) shares rose 2.4% after the company and Telxius said they are deploying 800G optical technology across terrestrial networks in Europe, the US and Latin America to meet rising cloud, AI and data-center connectivity demand. Teradyne (TER) stock was up 1.8% after the company said late Monday it opened an office in Bengaluru, India, in a bid to expand its footprint in the country. Rocket Lab (RKLB) shares were 1.7% higher after the company said it has completed its at-the-market equity offering, raising $1.94 billion in gross proceeds through the sale of 29.3 million shares to help fund its pending acquisition of Iridium Communications (IRDM).

US Equity Futures Drop Pre-Bell as 10-Year Treasury Yield Surpasses 5% Ahead of Fed Decision

US equity futures were edging lower pre-bell Tuesday as the 10-year Treasury yield hovered above 5% ahead of the Federal Reserve's interest-rate decision on Wednesday.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% lower.The benchmark 10-year Treasury yield climbed to its highest level since 2007, reaching as much as 5.041% before edging back to around 5%.President Donald Trump said that claims that artificial intelligence is "taking over the world" are a hoax, after tech leaders called for a slowdown in the advancement of AI models. "AI and Data Centers will be the Greatest Economic Development Engine in History -- Bigger than Oil, Gold, Diamonds, or even the Internet," Trump said in a post on Truth Social.The Federal Reserve policy session starts Tuesday and concludes with a rate announcement on Wednesday. There is a 92.5% chance the Fed will raise rates by 0.25%, according to the CME Group FedWatch indicator.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.2% at $105.90 per barrel and US West Texas Intermediate crude 0.9% higher at $102.27 per barrel.The September Empire State manufacturing index, slated for release at 8:30 a.m. ET, is seen at 15.0 versus 20.6 previously, according to estimates compiled by Bloomberg.

Dow JonesNasdaq CompositeS&P 500$BAC$CRWD$FPS$PANW$TCOM$ZS

US Markets4d ago

Stocks Fall Pre-Bell as Traders Await Fed Rate Decision Amid Rising Treasury Yields, Oil Prices

US equity futures were pointing lower on Tuesday as traders await the Federal Reserve's latest policy decision amid rising Treasury yields and oil prices.The S&P 500 declined 0.3% while the Dow Jones Industrial Average and the Nasdaq were off 0.4% each in premarket activity. The indexes finished the previous trading session in the red.The Fed's monetary policy committee is set to kick off its interest-rate meeting today, with a decision due tomorrow. Markets are currently pricing in a 93% probability that the Federal Open Market Committee will hike its benchmark lending rate by 25 basis points, with the remaining odds favoring another Fed pause, according to the CME FedWatch tool.The Fed is expected to raise interest rates by 25 basis points at the meeting, with its latest "dot plot" likely signaling another hike later this year, UBS Securities said in a note. The Bureau of Labor Statistics' consumer and producer price reports last week failed to improve the inflation outlook, the brokerage said.Treasury yields were trending higher, with the 10-year rate jumping 5.1 basis points to 5.01%, its highest level since 2007, CNBC reported. The two-year rate added 2.3 basis points to 4.66% while the 30-year rate gained 5.2 basis points to 5.38%.West Texas Intermediate crude oil rose 2.1% to $103.49 a barrel, while Brent increased 1.5% to $107.30.Yemen's Iran-aligned Houthis on Monday launched fresh attacks on Saudi Arabia, raising concerns over oil supplies as the country shut down its critical East-West pipeline that bypasses the Strait of Hormuz, a key crude and energy chokepoint, multiple media outlets reported.The Islamic Revolutionary Guard Corps reportedly said Monday it destroyed an advanced US MQ-1 drone over the Strait of Hormuz.In a social media post, President Donald Trump said Iran "wants to make a deal, quickly and badly," but he will decide whether the US will engage or not.Shares of Bank of America (BAC) edged down 0.8% before the opening bell following a 5.1% drop at the close of Monday. The lender's chief executive, Brian Moynihan, reportedly said at a conference that its third-quarter sales and trading revenue will be roughly flat versus last year, Reuters reported.CrowdStrike (CRWD), Zscaler (ZS) and Palo Alto Networks (PANW) were all down early Tuesday after gains in the previous session, as recent warnings from prominent artificial intelligence executives about the technology's safety risks boosted cybersecurity stocks.Tuesday's thin economic calendar has the Empire State manufacturing index for September at 8:30 am ET.Forgent Power Solutions (FPS) is scheduled to release its latest financial results before the bell, while Trip.com (TCOM) is expected to post its earnings after the markets close.Gold decreased 0.9% to $4,315 per troy ounce, while bitcoin fell 2.5% to $77,105.

Rising Bond Yields, Oil Prices Depress Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed moderately lower pre-bell Tuesday as rising bond yields and oil prices, and ongoing geopolitical uncertainties in the Middle East, continued to pressure equity values.In the futures, the S&P 500, the Nasdaq and the Dow Jones were all down about 0.3% pre-bell.The Federal Reserve starts its two-day policy session in Washington this morning, culminating with a rate announcement on Wednesday afternoon. The CME FedWatch places a 92.5% chance that the US central bank will lift rates by 0.25%.West Texas Intermediate crude oil traded up 1.9% at $103.33 in morning action, while yields on 10-year US Treasuries topped 5%.The VanEck Semiconductor fund (SMH) traded up 0.5% pre-bell.Asian exchanges traded lower overnight on the oil and interest-rate outlook, and after a slate of tepid economic reports from Beijing, including soft housing, investment and retail-sales bulletins.European bourses tracked moderately south midday on the continent.On the economic calendar is the Empire State Manufacturing Index for September, at 8:30 am ET.In pre-market action, bitcoin traded at $76,885, and spot gold commanded $4,275 an ounce.

Dow JonesNasdaq CompositeS&P 500$ASML$GLW$MU$SKHY$SPCX$TSLA

Asia Markets5d ago

Update: Semiconductors Help Push US Equity Indexes Lower While Benchmark Treasury Yield Hits 5%

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes fell amid declines in mega-cap semiconductor names while the 10-year benchmark government bond yield crossed 5% as crude oil prices extended gains.The Nasdaq Composite fell 0.6% to 26,146.41, the S&P 500 declined 0.5% to 7,619.98, and the Dow Jones Industrial Average slipped 0.3% to 52,421.20 on Monday. Technology led decliners while communication services was among a trio of gainers.Dario Amodei, chief executive of AI chatbot Claude maker Anthropic, called on the industry Saturday to slow the pace of developing AI model capabilities. His three-step plan to ensure that safety measures keep pace with advances in AI model capabilities includes placing independent evaluators inside leading AI companies with "employee-like access." OpenAI CEO Sam Altman and Tesla (TSLA) and SpaceX (SPCX) CEO Elon Musk supported Amodei's call in posts on X.President Donald Trump, however, pushed back against any idea of new AI guardrails and criticized Amodei's call for restraint, Bloomberg reported. In a category of stocks with market capitalization exceeding $200 billion, Micron Technology (MU), SK Hynix (SKYH), and ASML (ASML) were among the bottom 10 on Monday, according to data compiled by Finviz.Iran wants to reach a deal with Washington, Trump said Monday. "The failing Nation of Iran wants to make a deal, quickly and badly. I will determine whether or not the U.S.A. will choose to engage - The concept of which we are open to," Trump wrote in a social media post on Truth Social.Meanwhile, Saudi Arabia seeks to further boost crude oil supply through the Strait of Hormuz after attacks by the Iran-aligned Houthi militia group forced it to halt a key pipeline that's been the main alternative route for getting its crude to global markets during the Iran war, Bloomberg reported, citing a person familiar with the matter. The kingdom had been raising shipments through the contested Hormuz waterway in the first 10 days of this month from August levels, and is now trying to increase supplies further, the person told the news agency.Gulf Arab states postponed a planned meeting with Iran, and Yemen's Houthis launched a fresh attack on Saudi Arabia, Reuters reported.The front-month US West Texas Intermediate crude oil contract rose 1.8% to $101.84 per barrel, and the global benchmark North Sea Brent edged up 1.5% to $106.20 per barrel. Both crude types were off session highs.Ahead of the Federal Reserve's monetary policy announcements on Wednesday, interest rate traders are now pricing in a 95% probability that the Fed will raise its target rate by 25 basis points, up from 33% a month ago, according to the CME FedWatch tool.US Treasury yields rose across the curve. After hitting a high of 5.01% intraday, the 10-year yield was up 1.9 basis points to 4.99% in the final leg.In company news, Corning (GLW) said Friday it entered into an equity distribution agreement to sell its common stock from time to time, with an aggregate offering price of up to $2 billion. Corning shares sank nearly 14%, the worst performer on the S&P 500.In precious metals markets, gold futures dropped 1.6% to $4,337.3, and silver futures slumped 2.3% to $63.72.

Japan5d ago

US Equity Markets End Lower as 10-Year Yield Tops 5%, Oil Advances

US equity indexes ended lower Monday after US 10-year Treasury yields topped 5% for the first time since 2023 and oil prices rose.* Yemen's Houthis launched a large-scale ballistic missile and drone attack on Saudi Arabia's King Khalid Air Base in Khamis Mushait and claimed "direct hits," Al Jazeera reported.* Ahead of the Federal Reserve's monetary policy meeting on Wednesday, the likelihood of an interest rate increase by 25 basis points rose to 92.3%, up from 33.1% a month earlier, according to the CME FedWatch tool.* October West Texas Intermediate crude oil rose $1.77 to settle at $101.82 per barrel, while November Brent crude, the global benchmark, was last seen up $1.65 at $106.26.* Corning (GLW) shares fell 14%, the steepest drop on the S&P 500, after the company unveiled plans late Friday for the sale of up to $2 billion of its common stock through an at-the-market equity program.* CrowdStrike Holdings (CRWD) rose 14%, the biggest gain on the S&P, as escalating concerns about AI risks lifted cybersecurity sentiment.

Dow JonesNasdaq CompositeS&P 500$CRWD$GLW$GS

US Markets5d ago

Update: Wall Street Dips as AI Warnings Weigh on Tech Sector

(Updates with market moves at the end of the day, and other changes, if any.)Wall Street's equity benchmarks fell Monday as warnings from Anthropic and OpenAI on increasing safety risks tied to artificial intelligence triggered a selloff in the technology sector.The tech-heavy Nasdaq Composite declined 0.6% to close at 26,186.41. The S&P 500 dropped 0.5% to 7,619.98, while the Dow Jones Industrial Average dipped 0.3% to 52,421.20. Most sectors ended in the red, led by tech, while communication services paced the gainers.Dario Amodei, chief executive of AI chatbot Claude maker Anthropic, called on the industry Saturday to slow the pace at which it advances AI model capabilities. OpenAI CEO Sam Altman and Tesla (TSLA) and SpaceX (SPCX) CEO Elon Musk supported Amodei's call.OpenAI's initial public offering will not take place this year, Altman separately said in a Fortune Magazine interview, citing the need for safety-related work, according to Bloomberg News.Shares of tech bellwether Nvidia (NVDA) were the third-worst performer on the Dow, down 3.4%. Advanced Micro Devices (AMD), Micron Technology (MU), SanDisk (SNDK), Intel (INTC) and Qualcomm (QCOM) also closed lower.US President Donald Trump sought to allay those AI safety fears, calling them a "hoax.""AI taking over the world, destroying humanity, and all other things bad, is a hoax," he said in a social media post on Monday.In an earlier post on Truth Social, Trump said that "there is a sick conspiracy going on against AI and data centers, and the only one that is happy about it is China."West Texas Intermediate crude oil was up 1.7% at $101.76 a barrel in Monday late-afternoon trade, while Brent rose 1.6% to $106.23, both trading off the day's peaks.The Islamic Revolutionary Guard Corps said it destroyed an advanced US MQ-1 drone over the Strait of Hormuz, a key crude and energy chokepoint, CNBC reported.A meeting to discuss the future of the strait, scheduled for Monday with Tehran and Gulf states, has been postponed, Omani Foreign Minister Badr Albusaidi said on X. The postponement comes following Yemen's Iran-aligned Houthis' attack on Saudi Arabia last week.Trump said Monday that Iran "wants to make a deal, quickly and badly.""I will determine whether or not the USA will choose to engage," Trump said in a social media post.Treasury yields were higher, with the two-year rate rising 1.4 basis points to 4.66% and the 10-year rate up 1.2 basis points at 4.99%.The Federal Reserve is expected to raise interest rates by 25 basis points at this week's policy meeting, with its latest "dot plot" likely signaling another hike later this year, UBS Securities said in a note. The Federal Open Market Committee kicks off its two-day meeting on Tuesday.Markets are currently pricing in a 95% probability that the Fed will raise the benchmark lending rate by 25 basis points on Wednesday, according to the CME FedWatch tool. The remaining odds point to another central bank pause.In other company news, Baldwin Insurance (BWIN) has agreed to be acquired and taken private by a consortium that includes the family investment firm of Dell Technologies (DELL) Chief Executive Michael Dell, in a deal worth $7.7 billion. Baldwin shares jumped 7.9%.Spot gold lost 1.5% to $4,285.73 per troy ounce, while silver shed 2.6% to $63.48 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$BWIN$INTC$MU$NVDA$QCOM$SNDK$SPCX$TSLA

Japan5d ago

Update: US Equity Indexes Off Session Lows in Final Leg of Trading

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes declined, albeit off session lows, after the 10-year benchmark government bond yield breached 5% and crude oil prices rose.The Nasdaq Composite fell 0.3% to 26,249.1, the S&P 500 declined 0.4% to 7,629.2, and the Dow Jones Industrial Average slipped 0.2% to 52,454.8 ahead of Monday's close.US Treasury yields were mixed in the final leg of trading. After hitting a high of 5.01% intraday, the 10-year yield was little changed at 4.97%.Iran wants to reach a deal with Washington, President Donald Trump said Monday. "The failing Nation of Iran wants to make a deal, quickly and badly. I will determine whether or not the U.S.A. will choose to engage - The concept of which we are open to," Trump wrote in a social media post on Truth Social.Meanwhile, Saudi Arabia is seeking to further boost oil supply through the Strait of Hormuz after attacks forced it to halt a key pipeline that's been the main alternative route for getting its crude to global markets during the Iran war, Bloomberg reported, citing a person familiar with the matter. The kingdom had been raising shipments through the contested Hormuz waterway in the first 10 days of this month from August levels, and is now trying to increase supplies further, the person told the news agency.The front-month US West Texas Intermediate crude oil contract rose 0.9% to $100.92 per barrel, and the global benchmark North Sea Brent edged up 0.7% to $105.34 per barrel.