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

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Stocks Rise Pre-Bell Ahead of Key Consumer Inflation Report
US Markets

Stocks Rise Pre-Bell Ahead of Key Consumer Inflation Report

US equity markets were tracking in the green before the opening bell Friday as traders brace for a key consumer inflation report ahead of the Federal Reserve's monetary policy meeting next week.The S&P 500, the Dow Jones Industrial Average and the Nasdaq were up 0.6% each in premarket activity. The indexes finished Thursday trading lower for the fourth consecutive session.The consumer price index report for August is scheduled to be released at 8:30 am ET. Data are expected to show that consumer inflation increased 0.4% sequentially and 3.4% annually, according to a Bloomberg-compiled consensus.Wall Street projects core CPI, which excludes volatile items such as food and energy, to rise 0.2% month over month and 2.4% year over year for August.Treasury yields were mixed, with the two-year rate gaining 0.3 basis points to 4.55% while the 10-year rate declined 0.6 basis points to 4.94%.On Thursday, government data showed that producer prices rose at the fastest pace in three months in August amid higher fuel costs. Oxford Economics predicted further upward pressure on wholesale costs as domestic diesel prices hit fresh peaks.Markets are pricing in a 68% probability that the Fed will raise the benchmark lending rate by 25 basis points at its Sept. 15-16 meeting, according to the CME FedWatch tool. The remaining odds point to another central bank pause.West Texas Intermediate crude oil dropped 3.4% to $99.02 a barrel, while Brent slipped 3.7% to $103.65.The International Energy Agency said Friday it now forecasts global oil demand to drop by 2.5 million barrels a day this year, 940,000 barrels more than its previous estimate last month, with the deadlock in US-Iran negotiations likely to delay the normalization of crude flows into 2027.On Thursday, the Organization of the Petroleum Exporting Countries cut its global oil demand outlook for 2026 as high energy prices are expected to weigh on consumption.The average diesel price in the US hit a fresh record high at $6.0556 per gallon on Friday, according to AAA motor club data. The regular gas price rose to $4.2950 per gallon from $4.0116 a month ago.Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern side of the Red Sea, Reuters reported.Friday's economic calendar also has the preliminary University of Michigan's consumer sentiment report for September at 10 am, followed by the weekly Baker Hughes oil-and-gas rig count at 1 pm.Shares of Oracle (ORCL) jumped 6.7% pre-bell as the cloud computing company reported fiscal first-quarter results above Wall Street's estimates. Adobe (ADBE) fell 3.8% as the Photoshop maker provided a fiscal fourth-quarter revenue outlook below market expectations at the midpoint.Kroger (KR) reports its latest financial results before the bell.Gold dipped 0.4% to $4,390 per troy ounce, while bitcoin decreased 0.2% to $77,001.

Dow JonesNasdaq CompositeS&P 500$ADBE$KR$ORCL
Japan

US Equity Futures Higher Pre-Bell as Traders Await More Inflation Data Amid Drop in Oil Prices

US equity futures were edging higher pre-bell Friday as traders awaited the second of two key inflation reports this week and observed a drop in oil prices.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 0.6% higher.The US is continuing its campaign of economic pressure on Iran and its financial connections, with Treasury Secretary Scott Bessent saying that "a large bank" will be sanctioned by the US on Monday, according to a CNBC report.Iran-backed Houthi forces have taken over the port city of Mokha in Yemen, potentially giving Iran an avenue to increase attacks on vessels in the Red Sea, which has been an alternative route for ships avoiding the Strait of Hormuz, The Associated Press reported.Traders digested the latest round of earnings, with Kroger (KR) posting higher fiscal Q2 adjusted earnings and sales.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3.3% at $104.06 per barrel and US West Texas Intermediate crude 3.1% lower at $99.31 per barrel.The August consumer price index, a major inflation indicator scheduled for release at 8:30 am ET, is seen gaining 0.4% month over month, compared with a 0.1% increase in the prior month, according to estimates compiled by Bloomberg.The University of Michigan consumer sentiment index for September, slated for 10 am ET, is expected at 51.0, down from 51.7 previously.

Dow JonesNasdaq CompositeS&P 500$KR
Asia Markets

Easing Oil Bills, Tech Optimism Lift Wall Street Pre-Bell, Asia off, Europe Up

Wall Street futures pointed moderately higher pre-bell Friday as easing oil prices were met with renewed tech-sector optimism, after a strong earnings release from Oracle (ORCL).In futures, the S&P 500 rose 0.5%, the Nasdaq was up 0.6%, and the Dow Jones gained 0.6%.Oracle traded up 7.1% pre-bell after the IT giant overnight reported stronger-than-expected fiscal Q1 earnings and sales, and raised guidance.The VanEck Semiconductor fund (SMH) traded up 0.8% pre-bell.In morning action, West Texas Intermediate crude oil futures traded down 3.6% to $98.83 a barrel after the International Energy Agency issued a downward revision to global petroleum consumption in 2026, citing demand destruction caused by higher prices.Investors also await the consumer price index (CPI) bulletin for August, slated for 8:30 am ET, the last major inflation report before the Federal Reserve meets next week to set monetary policy.The yields on 10-year US Treasuries offered 4.94% in morning action.Asian exchanges traded mostly lower overnight, while European bourses tracked moderately higher at midday.Also on the economic calendar is the University of Michigan September consumer sentiment survey at 10 am, followed by the weekly Baker Hughes domestic oil-and-gas rig count at 1 pm.In pre-market action, Bitcoin traded at $77,024, and spot gold commanded $4,346 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Update: US Equity Indexes Decline as Treasury Yields Soar Amid Hot Wholesale Inflation Print, Escalation in Iran War Threatens Red Sea Chokepoint

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes fell as crude oil and government bond yields surged after an inflation gauge grew at the fastest pace in three months and an Iran-aligned militia group's threats to an alternative shipping route to the Strait of Hormuz mounted.The Nasdaq Composite declined 0.7% to 26,081.73, the S&P 500 retreated 0.6% to 7,591.70, and the Dow Jones Industrial Average dropped 0.6% to 52,064.10 on Thursday. All sectors except communication services and consumer staples dropped. Materials and utilities led the decliners.The Bureau of Labor Statistics' wholesale price inflation gauge, the Producer Price Index, jumped 5.4% from a year ago in August, above the 5.3% forecast in a Bloomberg-compiled survey, and 4.8% in July. The PPI edged up 0.4% month over month, as expected, following a 0.1% increase in July. The August print is the highest growth rate since May.Core PPI, which excludes volatile food and energy prices, climbed 4.6%, as anticipated, from a year ago, and up from 4.3% in July. Core PPI climbed 0.2%, below July's 0.3% and the 0.3% forecast."Based on the timing of the PPI survey, we expect another rise in September's report, as diesel prices have climbed nearly 60 cents and gasoline prices have risen close to 20 cents during the survey window, which is in the middle of the month," Grace Zwemmer, US economist at Oxford Economics, said in a note.US Treasury yields traded sharply higher across the term structure, with the 10-year yield surging 12.3 basis points to 4.96%, the highest since October 2023.The European Central Bank raised its three key interest rates by 25 basis points on Thursday, as the energy shock caused by the ongoing Middle East war pushed inflation in the euro area above its 2% medium-term target.Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea, according to a report from Reuters. Bab al-Mandeb is a geopolitical chokepoint similar to the Strait of Hormuz linking Asia and Europe via the Suez Canal.If the Houthis impose a stranglehold over the waterway, on the opposite side of the Arabian Peninsula from the Strait of Hormuz, it could give their sponsor Iran a critical advantage in the war with the United States, reducing supplies through a second major transit corridor, the news report said.Saudi Arabia reported to the Organization of the Petroleum Exporting Countries that its crude oil production plunged again last month, down by 1.9 million barrels a day to 6.238 million barrels, the lowest since 1990, as renewed hostilities between the US and Iran squeezed the kingdom's export routes, Bloomberg reported.The front-month US West Texas Intermediate crude oil contract climbed 7.2% to $102.92 per barrel, and global benchmark North Sea Brent rose 6.9% to $108.16 per barrel.Gold futures dropped 2.2% to $4,363.5, and silver futures sank 6.6% to $64.15.In US company news, shares of Cooper Companies (COO) sank almost 15%, the worst performer on the S&P 500, after a fiscal Q3 revenue miss overshadowed its earnings beat, and the company also cut its full-year outlook.Apple (AAPL) rose 3.6%, the Dow's top gainer, as the iPhone manufacturer unveiled its first foldable smartphone on Wednesday.

Dow JonesNasdaq CompositeS&P 500$AAPL$COO
Japan

US Equity Markets End Lower as Crude Oil Surges, Bond Yields Rise

US equity indexes ended lower Thursday after crude oil surged and government bond yields rose.* The Bureau of Labor Statistics' wholesale price inflation gauge, the Producer Price Index, jumped 5.4% in August from a year earlier, above the 5.3% forecast in a Bloomberg survey, and up from 4.8% in July.* Core PPI, which excludes volatile food and energy prices, climbed 4.6% from a year earlier, as expected, and up from 4.3% in July.* Initial jobless claims last week fell to 206,000 from an upwardly revised 207,000 in the previous week, compared with expectations for 205,000 in a Bloomberg poll.* Iran-aligned Houthis seized control of Yemen's port city of Mokha, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea, Reuters reported.* October West Texas Intermediate crude oil rose $6.89 to settle at $102.94 per barrel, while November Brent crude, the global benchmark, was last seen up $7.05 at $108.26.* Cooper Companies (COO) shares fell 15%, the steepest drop on the S&P 500, after the company cut its fiscal 2026 guidance. BofA Securities downgraded the stock to neutral from buy and lowered its price target to $65 from $80.* Apple (AAPL) is apparently prioritizing volume gains over margins with its lower-than-expected pricing on the new iPhones, including its first-ever foldable smartphone, Morgan Stanley said. Apple shares rose 3.6%, the top gainer on the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$AAPL$COO
Update: Equities Fall For Fourth Day as Traders Boost Rate Hike Bets
US Markets

Update: Equities Fall For Fourth Day as Traders Boost Rate Hike Bets

(Updates with market moves at the end of the day, and other changes, if any.)Stocks on Wall Street dropped for the fourth session in a row on Thursday as interest rate traders boosted bets that the Federal Reserve could tighten its monetary policy next week.The Nasdaq Composite declined 0.7% to close at 26,081.72. The Dow Jones Industrial Average and the S&P 500 fell 0.6% each to 52,064.10 and 7,591.70, respectively. Barring communication services and consumer staples, all sectors ended in the red, led by materials.US producer prices rose at the fastest pace in three months in August amid higher fuel costs, official data showed Thursday. Oxford Economics predicted further upward pressure on wholesale costs as domestic diesel prices hit fresh peaks.Markets are now pricing in a 71% probability that the Fed will raise the benchmark lending rate by 25 basis points, up from 61% on Wednesday, according to the CME FedWatch tool. The remaining odds point to another Fed pause.The August consumer price index report is scheduled for release on Friday.West Texas Intermediate crude oil was up 6.9% at $102.65 a barrel in Thursday late-afternoon trade, while Brent surged 6.7% to $107.96.Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern side of the Red Sea, Reuters reported.The Organization of the Petroleum Exporting Countries cut its global oil demand outlook for 2026 on Thursday as high energy prices are expected to weigh on consumption.US Treasury yields jumped, with the two-year rate up 14.4 basis points at 4.57% and the 10-year rate rising 11.4 basis points to 4.95%.Cooper Companies (COO) shares were the worst performer on the S&P 500, down nearly 15%. The medical device manufacturer's fiscal third-quarter results released late Wednesday showed sales missed Wall Street's estimates, overshadowing the earnings beat. It also lowered its full-year outlook.Apple (AAPL) rose 3.6%, the biggest gain on the Dow. The iPhone maker unveiled its first foldable smartphone Wednesday, entering a category currently led by Samsung.Apple is apparently prioritizing volume gains over margins with its lower-than-expected pricing on the new iPhones, Morgan Stanley said in a note.Spot gold lost 1.7% to $4,322.11 per troy ounce, while silver slumped 6.5% to $64.20 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$COO
Japan

Update: US Equity Indexes Fall as Hot Producer Prices, Soaring Crude Oil Boost Treasury Yields

(Updates with index/price moves, macroeconomic data, comments and company/geopolitical news from the first paragraph.)US equity indexes fell as crude oil and government bond yields soared after an inflation gauge grew at the quickest pace in three months and an Iran-aligned militia group's threat to the alternative shipping route to the Strait of Hormuz escalated.The Nasdaq Composite declined 0.6% to 26,091.2, the S&P 500 retreated 0.6% to 7,594.1, and the Dow Jones Industrial Average dropped 0.7% to 52,036.6 ahead of Thursday's close.The Bureau of Labor Statistics' wholesale price inflation gauge, the Producer Price Index, jumped 5.4% from a year ago in August, above the 5.3% forecast in a Bloomberg-compiled survey, and 4.8% in July. The PPI edged up 0.4% month over month, as expected, following a 0.1% increase in July. The August print is the highest growth rate since May.Core PPI, which excludes volatile food and energy prices, climbed 4.6%, as anticipated, from a year ago, and up from 4.3% in July. Core PPI climbed 0.2%, below July's 0.3% and the 0.3% forecast."Based on the timing of the PPI survey, we expect another rise in September's report, as diesel prices have climbed nearly 60 cents and gasoline prices have risen close to 20 cents during the survey window, which is in the middle of the month," Grace Zwemmer, US economist at Oxford Economics, said in a note.US Treasury yields traded sharply higher in the final leg of trading. The two-year soared 13.3 basis points to 4.56%, and the 10-year yield surged 11.7 basis points to 4.96%.Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea, according to a report from Reuters. Bab al-Mandeb is a geopolitical chokepoint similar to the Strait of Hormuz linking Asia and Europe via the Suez Canal.Saudi Arabia reported to the Organization of the Petroleum Exporting Countries that its crude oil production plunged again last month, down by 1.9 million barrels a day to 6.238 million barrels, the lowest since 1990, as renewed hostilities between the US and Iran squeezed the kingdom's export routes, Bloomberg reported.The front-month US West Texas Intermediate crude oil contract catapulted 6.3% to $102.06 per barrel, and global benchmark North Sea Brent shot up 6% to $107.23 per barrel.

Dow JonesNasdaq CompositeS&P 500
Update: Equities Drop Intraday as Inflation Fears Mount Amid Surging Oil Prices
US Markets

Update: Equities Drop Intraday as Inflation Fears Mount Amid Surging Oil Prices

(Updates with latest market prices and developments.)Wall Street's main equity indexes were lower intraday as oil prices and bond yields surged amid mounting inflation pressures.The Dow Jones Industrial average was down 0.6% at 52,050.7 after midday Thursday, while the S&P 500 fell 0.5% to 7,597.9. The Nasdaq Composite shed 0.4% to 26,140.2. The indexes closed Wednesday trading in the red for the third consecutive session.Barring consumer staples and communication services, all sectors were in the red on Thursday, led by materials.US producer prices rose at the fastest pace in three months in August amid higher fuel costs, official data showed Thursday. Oxford Economics predicted further upward pressure on wholesale costs as domestic diesel prices hit fresh peaks.US benchmark West Texas Intermediate crude oil was up 6.1% at $101.91 a barrel intraday, while Brent surged 5.9% to $107.20.Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern side of the Red Sea, Reuters reported.The Organization of the Petroleum Exporting Countries cut its global oil demand outlook for 2026 on Thursday as high energy prices are expected to weigh on consumption.US Treasury yields jumped intraday, with the two-year rate up 12.7 basis points at 4.55% and the 10-year rate rising 8.8 basis points to 4.93%.Markets are pricing in a 72% probability that the Federal Reserve will raise the benchmark lending rate by 25 basis points at next week's policy meeting, up from 61% on Wednesday, according to the CME FedWatch tool. The remaining odds point to another Fed pause.Cooper Companies (COO) shares were the worst performer on the S&P 500, down 15%. The medical device manufacturer's fiscal third-quarter results released late Wednesday showed sales missed Wall Street's estimates, overshadowing the earnings beat. It also lowered its full-year outlook.Apple (AAPL) rose 2.9%, the biggest gain on the Dow. The iPhone maker unveiled its first foldable smartphone Wednesday, entering a category currently led by Samsung.Apple is apparently prioritizing volume gains over margins with its lower-than-expected pricing on the new iPhones, Morgan Stanley said in a note.Oracle (ORCL) and Adobe (ADBE) are scheduled to release their quarterly earnings reports after markets close on Thursday.Spot gold nudged down 0.8% to $4,364.40 per troy ounce, while silver slumped 5.4% to $64.97 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$ADBE$COO$ORCL
Asia Markets

Update: US Equity Indexes Slide as Treasury Yields Surge Amid Hot Producer Prices, Soaring Crude Oil

(Updates with index/price moves, macroeconomic data, comments and company/geopolitical news from the first paragraph.)US equity indexes fell as crude oil and government bond yields soared after an inflation gauge grew at the quickest pace in three months and an Iran-aligned militia group's threat to the alternative shipping route to the Strait of Hormuz escalated.The Nasdaq Composite declined 0.4% to 26,152.3, the S&P 500 retreated 0.4% to 7,602.5, and the Dow Jones Industrial Average dropped 0.5% to 52,096.8 after midday Thursday. All sectors except communication services and consumer staples fell, with materials leading the steepest decliners.The Bureau of Labor Statistics' wholesale price inflation gauge, the Producer Price Index, jumped 5.4% from a year ago in August, above the 5.3% forecast in a Bloomberg-compiled survey, and 4.8% in July. The PPI edged up 0.4% month over month, as expected, following a 0.1% increase in July. The August print is the highest growth rate since May.Core PPI, which excludes the more volatile food and energy prices, climbed 4.6%, as anticipated, from a year ago, and up from 4.3% in July. Core PPI climbed 0.2%, below July's 0.3% and the 0.3% forecast."Based on the timing of the PPI survey, we expect another rise in September's report, as diesel prices have climbed nearly 60 cents and gasoline prices have risen close to 20 cents during the survey window, which is in the middle of the month," Grace Zwemmer, US economist at Oxford Economics, said in a note.US Treasury yields jumped after midday. The two-year soared 11.9 basis points to 4.55%, the highest since mid-2024. The 10-year yield surged 7.4 basis points to 4.91%, its strongest level since late 2023.The European Central Bank raised its three key interest rates by 25 basis points on Thursday, as the energy shock caused by the ongoing Middle East war pushes inflation in the euro area above its 2% medium-term target.In further US economic news, initial jobless claims fell to 206,000 in the week ended Sept. 5 from an upwardly revised 207,000 in the previous week, compared with expectations for 205,000 in a Bloomberg-compiled poll.Meanwhile, Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea and an important shipping route, according to a report from Reuters.Pakistan has delivered a Saudi warning to Iran to rein in its Yemeni Houthi allies, whose move threatens the kingdom's exports through the Red Sea, to prevent the Middle East crisis from spiralling, Saudi, Pakistani and Iranian sources told Reuters.The front-month US West Texas Intermediate crude oil contract catapulted 5.6% to $101.42 per barrel, and global benchmark North Sea Brent shot up 5.5% to $106.79 per barrel.Gold futures dropped 1.4% to $4,400.1, and silver futures sank 5.5% to $64.86.In US company news, shares of Cooper Companies (COO) sank 15%, the worst performer on the S&P 500, after a fiscal Q3 revenue miss overshadowed its earnings beat, and the company also cut its full-year outlook.Apple (AAPL) rose 2.5%, the Dow's top gainer, as the iPhone manufacturer unveiled its first foldable smartphone on Wednesday.

Dow JonesNasdaq CompositeS&P 500$AAPL$COO
Asia Markets

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 0.9%.US equity indexes fell after an inflation gauge jumped at the quickest pace in three months while an Iran-aligned militia group's threat to the alternative shipping route through the Strait of Hormuz grew stronger.EnergyIShares US Energy ETF (IYE) lost 0.2% and the State Street Energy Select Sector SPDR (XLE) fell 0.4%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) shed 1.1%; iShares US Technology ETF (IYW) dropped 0.7%, and iShares Expanded Tech Sector ETF (IGM) declined 0.7%.The State Street SPDR S&P Semiconductor (XSD) shed 0.2%, while iShares Semiconductor (SOXX) dropped 2.1%.FinancialThe State Street Financial Select Sector SPDR (XLF) slipped 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) decreased 1%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 1.2%.CommoditiesCrude oil increased 5.5%, and the United States Oil Fund (USO) gained 4.4%. Natural gas shed 0.5%, and the United States Natural Gas Fund (UNG) dropped 0.1%.Gold on Comex declined 1.3%, and the State Street SPDR Gold Shares (GLD) moved 0.9% lower. Silver fell 5.6%, and iShares Silver Trust (SLV) lost 4.3%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) gained 0.3%. The Vanguard Consumer Staples ETF (VDC) increased 0.2%, and iShares Dow Jones US Consumer Goods (IYK) rose 0.4%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was fractionally lower. The VanEck Retail ETF (RTH) fell 0.4%, and the State Street SPDR S&P Retail (XRT) dropped 0.6%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) fell 0.4%; iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) declined 0.5% each, while iShares Biotechnology ETF (IBB) shed 1.3%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) was 0.7% lower. The Vanguard Industrials Index Fund (VIS) shed 0.8% and iShares US Industrials (IYJ) dropped 0.6%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) decreased 1.4%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) decreased 1.4%, ProShares Ether ETF (EETH) fell 1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was down 1.5%.

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

Update: US Equity Indexes Drop as Treasury Yields Jump Following Hot Producer Price Inflation Print

(Updates with index/price moves, macroeconomic data, and geopolitical news from the first paragraph.)US equity indexes fell after an inflation gauge jumped at the quickest pace in three months while an Iran-aligned militia group's threat to the alternative shipping route through the Strait of Hormuz grew stronger.The Nasdaq Composite declined 0.5% to 26,125.1, the S&P 500 retreated 0.5% to 7,598.2, and the Dow Jones Industrial Average dropped 0.6% to 52,078.3 after midday Thursday.The Bureau of Labor Statistics' wholesale price inflation gauge, the Producer Price Index, jumped 5.4% from a year ago in August, above the 5.3% forecast in a Bloomberg-compiled survey. The PPI edged up 0.4% month over month, as expected, following a 0.1% increase in July. The August print is the highest growth rate since May.US Treasury yields jumped after midday. The two-year soared 11 basis points to 4.54%, the highest since mid-2024. The 10-year yield surged eight basis points to 4.92%, its strongest level since late 2023.Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea and an important shipping route, according to a report from Reuters.The front-month US West Texas Intermediate crude oil contract jumped 4.8% to $100.68 per barrel, and global benchmark North Sea Brent advanced 4.9% to $106.21 per barrel.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Thursday Amid Producer Price Inflation Data Release

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.6%, and the actively traded Invesco QQQ Trust (QQQ) was 1.5% lower in Thursday's premarket activity amid the release of producer-price inflation data.US stock futures were mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures gaining 0.1%, and Nasdaq futures slipping 0.6% before the start of regular trading.The US Producer Price Index rose 0.4% in August, as expected in a survey compiled by Bloomberg, following a 0.1% gain in July.Initial jobless claims fell to 206,000 in the week ended Sept. 5 from 207,000 in the previous week, compared with expectations for a drop to 205,000.The existing home sales report for August and wholesale inventory data for July will be released at 10 am ET.Weekly natural gas stocks will be released at 10:30 am ET.In premarket activity, bitcoin was down by 0.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.7% lower, Ether ETF (EETH) retreated 0.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1%, the iShares US Technology ETF (IYW) was 0.4% lower, 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) fell 2.1%.Navan (NAVN) shares were down 15% following the company's fiscal Q2 results and acquisition of events platform BoomPop.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) was flat. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1% lower.Hagerty (HGTY) shares were down 8% in early-hours activity after the company priced an upsized secondary offering by a selling shareholder of about 9.3 million Class A common shares at $11.95 apiece.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1.3%.Centrus Energy (LEU) stock was down more than 7%, a day after the company priced a public offering of its securities for expected gross proceeds of about $500 million.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) retreated 0.2%.Axogen (AXGN) stock was down more than 4% premarket after the company said it has agreed to acquire privately held medical device company BioCircuit Technologies and priced a $208.7 million public offering of about 4.9 million shares.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, while 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) gained 0.3%. The VanEck Retail ETF (RTH) was down 0.4%, while the State Street SPDR S&P Retail ETF (XRT) was 0.3% lower.Macy's (M) shares were down more than 4% pre-bell after the company said it expects an adjusted loss for fiscal Q3.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) was flat, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.SpaceX (SPCX) shares were retreating marginally by 0.6% before the opening bell. Reuters reported Thursday, citing disclosures it received in response to a freedom of information request, that the company has received about $40 million from the UK government in exchange for its satellite services.CommoditiesFront-month US West Texas Intermediate crude oil was up by 3.8% at $99.65 per barrel on the New York Mercantile Exchange. Natural gas was 1.2% lower at $2.79 per 1 million British Thermal Units. The United States Oil Fund (USO) rose 2.7%, while the United States Natural Gas Fund (UNG) retreated 1.1%.Gold futures for November were down by 1.3% at $4,404.60 an ounce on the Comex. Silver futures fell 4.4% to $65.63 an ounce. SPDR Gold Shares (GLD) decreased 1.6%, and the iShares Silver Trust (SLV) was 4.9% lower.

Dow JonesNasdaq CompositeS&P 500$AXGN$FAS$FAZ$GLD$HGTY$IBB$IGM$IYE$IYH$IYJ$IYK$IYW$LEU$M$NAVN$QQQ$RTH$SLV$SOXX$SPCX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

Update: US Equity Futures Lower Pre-Bell Thursday as Traders Assess Inflation Data Amid Higher Oil Prices

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Thursday as traders assessed the first of two key inflation reports this week and observed oil prices continuing to ascend, with Brent crude futures exceeding $105 per barrel.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 1% lower.President Donald Trump said that he expects the war with Iran to end after the November US midterm elections, according to media reports. He told reporters Wednesday that Iran was trying to influence the elections.Traders digested the latest round of earnings, with Macy's (M) posting higher fiscal Q2 adjusted earnings and revenue.Oracle (ORCL) is expected to report its fiscal Q1 earnings after the market closes. Analysts polled by FactSet expect earnings of $1.74 per share on revenue of $19.14 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.4% at $105.67 per barrel and US West Texas Intermediate crude 4.8% higher at $100.66 per barrel.The US Producer Price Index, a measure of wholesale inflation released at 8:30 am ET, rose 0.4% in August as expected in a survey compiled by Bloomberg, and following a 0.1% gain in July. The consumer price index follows on Friday.Initial jobless claims fell to 206,000 in the week ended Sept. 5 from 207,000 in the previous week, compared with expectations for a drop to 205,000.The existing home sales report, scheduled for release at 10 am ET, is expected to show a decrease of 1.7% for August after a 1.7% drop in the prior month.In other world markets, Japan's Nikkei closed 0.2% higher, Hong Kong's Hang Seng ended 1.3% lower, and China's Shanghai Composite finished 0.4% lower. Meanwhile, the UK's FTSE 100 was down 0.6%, and Germany's DAX index was 0.2% lower in Europe's early afternoon session.In equities, Macy's stock fell 4% after the company reported its fiscal Q2 financial results. HSBC (HSBC) shares dropped 1.9% after the company said that Pam Kaur plans to step down as chief financial officer and executive director next year. UBS (UBS) stock was down 1.8% after a Reuters report that the company plans to cease its fund sales unit in China at the end of September.On the winning side, Exxon Mobil (XOM) and ConocoPhillips (COP) shares were up 1.9% and 2.3%, respectively, as part of a broader upswing in energy-related stocks.

Dow JonesNasdaq CompositeS&P 500$COP$HSBC$M$ORCL$UBS$XOM
Japan

US Equity Futures Mixed Pre-Bell Thursday as Traders Await Inflation Data Amid Higher Oil Prices

US equity futures were mixed pre-bell Thursday as traders awaited the first of two key inflation reports this week and observed oil prices continuing to ascend, with Brent crude futures exceeding $103 per barrel.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.6% lower.President Donald Trump said that he expects the war with Iran to end after the November US midterm elections, according to media reports. He told reporters Wednesday that Iran was trying to influence the elections.Traders digested the latest round of earnings, with Macy's (M) posting higher fiscal Q2 adjusted earnings and revenue.Oracle (ORCL) is expected to report its fiscal Q1 earnings after the market closes. Analysts polled by FactSet expect earnings of $1.74 per share on revenue of $19.14 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.7% at $103.95 per barrel and US West Texas Intermediate crude 3.1% higher at $99.17 per barrel.The August Producer Price Index, a measure of wholesale inflation, is scheduled for release at 8:30 am ET. The consumer price index follows on Friday.The weekly jobless claims bulletin is expected at 8:30 am ET, while the existing home sales report is slated for 10 am ET.

Dow JonesNasdaq CompositeS&P 500$M$ORCL
Stocks Mostly Up Pre-Bell Ahead of Producer Prices Report
US Markets

Stocks Mostly Up Pre-Bell Ahead of Producer Prices Report

The main US stock measures were mostly pointing higher in Thursday's premarket activity as traders await last month's wholesale inflation data.The S&P 500 edged up 0.1%, and the Dow Jones Industrial Average increased 0.2% before the opening bell, while the Nasdaq was down 0.2%. The indexes closed Wednesday trading in the red for the third consecutive session.Last month's producer price index, a measure of wholesale prices, is scheduled to be released at 8:30 am ET. Official data is expected to show that producer prices rose 0.4% and 5.3% in August on sequential and annual bases, respectively, according to a Bloomberg-compiled consensus.The consumer price index for August is scheduled for release on Friday.Federal Reserve Chair Kevin Warsh said late last month that the central bank should focus on its price stability mandate, in what came across as hawkish remarks amid concerns among other Fed officials over elevated inflation."Rising oil prices raise the risk of further inflationary pressures coming down the pipeline, increasing the argument for the (Federal Reserve) to act sooner than later," Stifel Chief Economist Lindsey Piegza said Wednesday in a report e-mailed to.Markets are pricing in a 61% probability that the Fed will raise the benchmark lending rate by 25 basis points, according to the CME FedWatch tool.Treasury yields were trending upwards, with the two-year rate rising 1.3 basis points to 4.44% and the 10-year rate adding 1.9 basis points to 4.86%.On Wednesday, the US Treasury Department disclosed a plan to repurchase up to $6 billion in longer-term government bonds, triple the amount initially outlined to investors. Last month, the Treasury announced it was upsizing its liquidity support buyback operations for longer-dated securities by "at least double" to $4 billion per operation.West Texas Intermediate crude oil rose 1.5% to $97.52 a barrel, while Brent moved up 1% to $102.18.President Donald Trump warned Iran against activity at a suspected nuclear site on Pickaxe Mountain, CNBC reported. "We notice there's a little activity at Pickaxe," Trump reportedly said Wednesday. "I would advise Iran not to get cute because we will have to hit them very hard."Iran reportedly said Wednesday it attacked 10 ships near the Strait of Hormuz. The attacks followed American forces destroying five Iranian crude oil carriers in response to Tehran firing ballistic missiles at a US navy warship.Trump's top administration advisers have raised privately the prospect of the Iran war dragging on through the remainder of his term, The Wall Street Journal reported.Thursday's economic calendar also has the weekly jobless claims bulletin at 8:30 am, followed by the existing home sales report for August at 10 am. The weekly EIA domestic petroleum inventories report is out at 12 pm.Shares of Apple (AAPL) gained 1.2% pre-bell as the technology giant unveiled its first foldable smartphone on Wednesday. Meta Platforms (META) added 1.3% after finishing the previous trading session up 6.6%.AeroVironment (AVAV) spiked 6.5% while American Eagle Outfitters (AEO) dropped 12% after reporting their latest financial results.Oracle (ORCL), Adobe (ADBE), Copart (CPRT) and RH (RH) are expected to release their quarterly earnings after the markets close. Macy's (M) posts its results before the bell.Gold nudged down 0.5% to $4,438 per troy ounce, while bitcoin dipped 0.6% to $77,915.

Dow JonesNasdaq CompositeS&P 500$AAPL$ADBE$AEO$AVAV$CPRT$M$META$ORCL$RH
Asia Markets

Oil, Bond Yields Cap Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed unevenly sideways pre-bell Thursday as traders weighed Persian Gulf turmoil, rising bond yields and crude oil prices.In the futures, the S&P 500 rose 0.1%, the Nasdaq declined 0.2% and the Dow Jones was up 0.2%.West Texas Intermediate crude oil futures traded up 1.2% at $97.23 a barrel, while 10-year US Treasuries offered 4.86% in morning action.The VanEck Semiconductor fund (SMH) traded down 0.7% pre-bell.Investors also await the producer price index (PPI) report for August from Washington at 8:30 am ET, for insights into how energy bills are hitting manufacturers and others.Asian exchanges traded mostly lower overnight, while European bourses edged mostly south midday on the continent.Oracle (ORCL) and Adobe (ADBE) plan to report earnings after-bell, among others.On the economic calendar, in addition to the producer price bulletin, is the weekly jobless claims report at 8:30 am ET.The existing home sales bulletin logs at 10 am, followed by the weeklyEIA natural gas report at 10:30 am.The weekly EIA petroleum status report files at 12 pm.In pre-market action, bitcoin traded at $77,883, while spot gold commanded $4,384 an ounce.

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Asia Markets

Update: US Equity Indexes Fall as Treasury Yields Rise After Bessent Triples Size of Buyback Program, Worsening Iran War Sends Brent Crude Above $100

(Updates with index/price moves, macroeconomic data, comments, and company/geopolitical news from the first paragraph.)US equity indexes slid as government bond yields jumped after the Treasury Department unveiled plans to triple government debt buybacks to as much as $6 billion and after Brent crude oil futures surpassed $100 a barrel.The Nasdaq Composite declined 0.6% to 26,253.34, the S&P 500 retreated 0.5% to 7,636.36, and the Dow Jones Industrial Average dropped 0.8% to 52,380.66 on Wednesday. All sectors except energy fell, with consumer discretionary, real estate, industrials and utilities among the steepest decliners.Iran is ready for a more intense war and will escalate counterstrikes if the US continues attacking its territory and infrastructure, Bloomberg reported, citing a senior official from the Islamic Republic. Tehran has no intention of backing down in the face of an American naval blockade and attacks on its oil tankers, the official told the news outlet.The Iranian Revolutionary Guard Corps plans to declare a restricted zone stretching from Chabahar into parts of the Gulf of Oman and the Arabian Sea, Al Jazeera, a Middle Eastern broadcaster, reported. Any vessel entering this area will face sanctions, it said. The Strait of Hormuz accounted for about a fifth of global oil and gas flow daily before the Iran war.Iran said it attacked 10 ships near the Strait of Hormuz after the US sank five of Tehran's oil tankers, in the biggest declared wave of tit-for-tat attacks on shipping by both sides since the start of the six-month-old war, Reuters reported.The front-month US West Texas Intermediate crude oil contract surged 3.6% to $96.39 per barrel, and global benchmark North Sea Brent soared 3.5% to $101.34 per barrel.The Treasury Department plans to buy back up to $6 billion of government debt, CNBC reported. The move triples the normal buyback operation, following an announcement Aug. 19 from Treasury Secretary Scott Bessent saying the department would at least double the normal amount for already issued securities.As longer-maturity bond yields rise, governments are taking steps to adjust issuance of longer-dated securities, according to Goldman Sachs. The US Treasury said last month it plans to increase buybacks of Treasuries with a maturity of 10 years or more, reducing the maturity profile of US debt stock. Shorter-maturity issuance will finance the buybacks."It's an effective reduction in the average maturity of issuance," Goldman's George Cole, head of European rates strategy, said in a webinar. "That in and of itself isn't sufficient to change the yield level."Most US Treasury yields rose, with the 10-year yield up 3.7 basis points to 4.84%, close to its highest since late 2023.In company news, Meta Platforms (META) launched a new personal artificial intelligence agent called Muse AI, which can send emails, book travel plans, take on goals, and continue working after users close the app. Shares advanced 6.6%, among the top gainers on the S&P 500 and the Nasdaq.Casey's General Stores (CASY) fiscal Q1 same-store sales growth slowed and missed Wall Street estimates, taking the shine off earnings and revenue beats. Shares sank 14%, the steepest decliner on the S&P 500.In economic news, Redbook US same-store sales surged 8.3% from a year earlier in the week ended Sept. 5, after a 9.6% year-over-year increase in the previous week.Gold futures were steady at $4,442.4, and silver futures jumped 1.3% to $67.87.

Dow JonesNasdaq CompositeS&P 500$CASY$META
Update: Wall Street Extends Losing Streak to Third Day Amid Middle East Tensions
US Markets

Update: Wall Street Extends Losing Streak to Third Day Amid Middle East Tensions

(Updates with market moves at the end of the day, and other changes, if any.)US stocks fell for the third straight session on Wednesday as heightened Middle East tensions sent oil prices higher, fanning inflation fears ahead of next week's Federal Reserve policy meeting.The Dow Jones Industrial Average closed 0.8% lower at 52,380.66, while the Nasdaq Composite shed 0.6% to 26,253.34. The S&P 500 dropped 0.5% to 7,636.36.Except energy, all sectors ended in the red, led by industrials.Global oil price benchmark Brent was up 3.6% at $101.45 a barrel in Wednesday late-afternoon trade, breaching the $100 threshold for the first time since late July. West Texas Intermediate climbed 3.9% to $96.64.Iran said Wednesday it attacked 10 ships near the Strait of Hormuz -- a key crude and energy chokepoint, Reuters reported. Tehran reportedly launched ballistic missiles at a base used by US forces in Jordan.That followed American forces destroying five Iranian crude oil carriers in response to Tehran firing ballistic missiles at a US navy warship, the US Central Command said Tuesday.Yemen's Iran-allied Houthi group said Wednesday that Saudi-backed forces launched airstrikes overnight across four Yemeni provinces, the Associated Press reported. The Houthis previously struck civilian and economic sites in Saudi Arabia on Tuesday, including Saudi Aramco's facilities."Together, these developments point to continued supply tightness and an elevated risk of further price gains," Saxo Bank said Wednesday in a report.The average diesel price in the US hit a fresh record high at $5.9424 per gallon, up from Tuesday's $5.9012, according to data from AAA, a travel organization that tracks fuel prices in the world's biggest economy. The regular gas price rose to $4.2245 per gallon from $4.1514.The upward pressure on energy prices comes as markets await a new set of inflation data, with a report on wholesale prices for August due on Thursday, to be followed by consumer inflation numbers for the same month on Friday.Fed Chair Kevin Warsh said late last month that the central bank should focus on its price stability mandate, in what came across as hawkish remarks amid concerns among other Fed officials over elevated inflation."Rising oil prices raise the risk of further inflationary pressures coming down the pipeline, increasing the argument for the (Federal Reserve) to act sooner than later," Stifel Chief Economist Lindsey Piegza said Wednesday in a report e-mailed to.Markets are pricing in a 60% probability that the Fed will raise the benchmark lending rate by 25 basis points at next week's policy meeting, with the remaining odds pointing to another Fed pause, according to the CME FedWatch tool.Treasury yields were higher, with the 10-yield yield up 3.7 basis points at 4.84% and the two-year yield rising 2.9 basis points to 4.43%.The 10-year rate hit the highest level since November 2023 on Wednesday, CNBC reported, even as the US Treasury Department announced a plan to repurchase up to $6 billion in longer-term government bonds, triple the amount initially outlined to investors.Last month, the Treasury announced it was upsizing its liquidity support buyback operations for longer-dated securities by "at least double" to $4 billion per operation.Casey's General Stores (CASY) shares slid 14%, the worst performer on the S&P 500, as the convenience store operator's fiscal first-quarter same-store sales growth missed Wall Street's estimates, even though earnings and revenue topped expectations.Meta Platforms (META) has launched a new personal artificial intelligence agent called Muse AI, which can send emails, book travel plans and continue working after users close the app. Meta shares jumped 6.6%, the second-biggest gain on the S&P 500.Spot gold gained about 1% to $4,397.45 per troy ounce, while silver advanced 1.3% to $67.86 per ounce.

Dow JonesNasdaq CompositeS&P 500$CASY$META
Japan

US Equity Markets End Lower as Crude Oil, Government Bond Yields Rise

US equity indexes ended lower Wednesday after crude oil climbed and government bond yields rose despite the US Treasury Department's move to triple government debt buybacks to as much as $6 billion.* Iran is prepared for a more intense phase of the war and will increase counterstrikes if the US attacks on its territory and infrastructure continue, Bloomberg reported, citing a senior official from the Islamic Republic.* Redbook US same-store sales last week surged 8.3% from a year earlier after a 9.6% increase in the previous week.* October West Texas Intermediate crude oil rose $3.45 to settle at $96.48 per barrel, while November Brent crude, the global benchmark, was last seen up $3.39 at $101.31.* Casey's General Stores (CASY) shares fell 14%, the steepest drop on the S&P 500, after fiscal Q1 same-store sales growth slowed and missed Wall Street estimates, even though earnings and revenue topped expectations.* Meta Platforms (META) shares rose 6.6%, the second-biggest gain on the S&P, after the company launched a new personal AI agent called Muse AI, which can send emails, book travel plans, and continue working after users close the app.

Dow JonesNasdaq CompositeS&P 500$CASY$META
Japan

Update: US Equity Indexes Drop as Crude Oil Tops $100 Mark, Treasury Yields Surge

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes fell after Brent crude oil futures surpassed $100 a barrel and government bond yields jumped after the Treasury Department unveiled plans to triple government debt buybacks to as much as $6 billion.The Nasdaq Composite declined 0.6% to 26,252.1, the S&P 500 retreated 0.4% to 7,640.2, and the Dow Jones Industrial Average dropped 0.6% to 52,456.9 ahead of Wednesday's close.Iran is ready for a more intense war and will escalate counterstrikes if the US continues attacking its territory and infrastructure, Bloomberg reported, citing a senior official from the Islamic Republic. Tehran has no intention of backing down in the face of an American naval blockade and attacks on its oil tankers, the official told the news outlet. Economic pain may be increasing, they said, but the country's leaders see the war with the US as posing an existential threat that leaves them little choice but to keep fighting.The front-month US West Texas Intermediate crude oil contract surged 3.6% to $96.39 per barrel, and global benchmark North Sea Brent soared 3.5% to $101.34 per barrel.The Treasury Department plans to buy back up to $6 billion of government debt, CNBC reported. The move triples the normal buyback operation, following an announcement on Aug. 19 from Treasury Secretary Scott Bessent that the department would at least double the normal amount for already issued securities.Most US Treasury yields rose, with the 10-year yield up 3.3 basis points to 4.84%, trading close to its highest since late 2023.

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