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Nasdaq Suffers Worst Day in More Than a Year; S&P 500 Snaps Winning Weekly Streak

The Nasdaq Composite logged its biggest one-day decline since April 2025 as traders evaluated the official jobs report, while the S&P 500 snapped its winning weekly streak.The technology-heavy Nasdaq plunged 4.2% to 25,709.4 on Friday, the most since April 2025, according to CNBC. The S&P 500 shed 2.6% to 7,383.7, while the Dow Jones Industrial Average lost 1.4% to 50,866.8, after it closed at a record high in the previous session.Tech saw the steepest drop among sectors, shedding 5.8%, while consumer staples paced the gainers.All three major Wall Street indexes posted weekly losses, with the Nasdaq sliding 4.7% and the Dow slipping 0.3%. The S&P 500 is down 2.6% on the week, after nine straight weekly gains.Cisco Systems (CSCO) declined 6.4% on Friday, the worst performer on the Dow. Nvidia (NVDA) and IBM (IBM) followed Cisco on the index, down 6.2% and 5.6%, respectively.Qualcomm (QCOM), Advanced Micro Devices (AMD), Super Micro Computer (SMCI), and Micron Technology all tumbled more than 10% each, with Micron the worst performer on the S&P 500. Oracle (ORCL), Salesforce (CRM) and Microsoft (MSFT) also closed lower.In economic news, total nonfarm payrolls in the US rose by 172,000 in May, the Bureau of Labor Statistics said, nearly double the 88,000 increase expected in a Bloomberg-compiled survey."Overall, this was a solid employment report," TD Economics said in a report. "Not only did headline payrolls come in stronger than expected, but revisions to prior months were meaningfully higher and well above six-and-twelve-month averages, suggesting some reacceleration in hiring activity."US Treasury yields were higher, with the 10-year rate last up 6.6 basis points at 4.55%, and the two-year rate soaring 11.9 basis points to 4.17%.Markets widely expect the Federal Reserve to leave interest rates unchanged later this month, but the odds of monetary policy tightening later this year have seemingly increased."Despite the lack of consistent messaging in the labor market data, we now have a rate hike fully priced at the December (Federal Open Market Committee) meeting," James Knightley, chief international economist at ING, said in a note. "That is understandable given the Fed's hawkish pivot and the hot inflation prints of recent months."West Texas Intermediate crude oil was down 2.9% at $90.38 a barrel in Friday late-afternoon trade, while Brent fell 2% to $93.11.Major oil-producing nations belonging to the OPEC+ cartel are expected to agree to continue raising output when they meet on Sunday to decide on July's production quota, analysts told.The cartel is seen lifting July's production quota by another 188,000 barrels per day, DBS Bank's Suvro Sarkar said.Gold was last down 3.7% at $4,338.30 per troy ounce, while silver dropped 8.4% to $67.79 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$CRM$CSCO$IBM$MSFT$MU$NVDA$ORCL$QCOM$SMCI

Equities10d ago

S&P 500 Posts First Weekly Loss Since March as Rate Worries Climb Amid May Jobs Beat

The Standard & Poor's 500 index fell 2.6% this week, its first weekly loss since March, as stronger-than-anticipated May payrolls boosted bets that the Federal Reserve will raise rates this year.The S&P 500 ended Friday's session at 7,383.74, breaking a winning streak that had gone on for nine weeks, the market benchmark's longest such run since 2023. The S&P 500 is now up 7.9% this year.The S&P 500 on Tuesday set new intraday and closing highs over 7,600. The gains were erased later in the week after the Labor Department released its May employment data on Friday.The jobs report showed nonfarm payrolls rose by 172,000, well above the 88,000 increase expected in a survey compiled by Bloomberg. April and March payrolls also received upward revisions for a net upward revision of 93,000 jobs. However, the May unemployment rate remained at 4.3%, as expected.The probability of a 25-basis-point increase in interest rates in December rose to 43%, from 36% a week ago, according to the CME FedWatch tool. The comparisons for September were 33% versus 20%. For October, the data showed an increase to 39% from 25%.The consumer discretionary sector had the largest percentage drop of the week, falling 6.2%, followed by a 5.4% loss in technology and a 3.9% slide in communication services. Materials shed 1.2% while utilities edged lower.Ford Motor (F) was hit hardest in consumer discretionary, losing 15%. The automaker reported its total US vehicle sales fell 13.6% year over year in May to 190,828 vehicles. Internal combustion vehicle sales fell 12.3% while hybrid and electric vehicle sales were down 15.7% and 43.9%, respectively, the company said.Also weighing on consumer discretionary, Lululemon Athletica (LULU) shares fell 13%. The athletic apparel retailer forecast fiscal Q2 earnings per share and revenue below analysts' expectations despite its fiscal Q1 results slightly topped Street views. Lululemon Athletica also trimmed its 2026 guidance.In the technology sector, Ciena (CIEN) had the largest percentage drop of the week, falling 16%. The drop came even as the networking systems and software company provided an upbeat fiscal third-quarter revenue outlook and its results topped market estimates.Broadcom (AVGO) also weighed on the technology sector as its stock declined 14%. The chip designer reported fiscal second-quarter results above Wall Street's estimates as its artificial intelligence revenue more than doubled on the back of increased demand for custom accelerators and networking solutions. However, analysts at RBC Capital Markets and UBS said investors were disappointed that the company only reiterated its its 2027 artificial intelligence guidance rather than raising it.On the upside, the energy sector rose 2.5%, followed by a 2.3% gain in health care, a 1.5% rise in real estate and a 1.3% increase in financials. Consumer staples and industrials also edged higher.Marathon Petroleum (MPC) had the largest weekly percentage increase in the energy sector, climbing 5.3%. The company reported it swung to a larger-than-expected Q1 adjusted net profit from a year-earlier loss while revenue also topped expectations.Next week, earnings are expected from companies including Oracle (ORCL) and Adobe (ADBE).Economic data will include the May consumer price index as well as the May producer price index.

Dow JonesNasdaq CompositeS&P 500$AVGO$CIEN$F$LULU$MPC

Asia Markets10d ago

US Equity Indexes Plummet as Dwindling Expectations for Monetary Policy Easing Decimate Mega-Cap Technology

US equity indexes plunged amid a slide in mega-cap chip names and government bonds, as a strong jobs report slashed the odds for monetary policy easing this year.The Nasdaq Composite nosedived 4.2% to 25,709.43, with the S&P 500 down 2.6% to 7,383.74, and the Dow Jones Industrial Average lower by 1.4% to 50,866.78 on Friday.Technology sank with consumer discretionary, materials, and communication services. Consumer staples led the gainers.In a third straight month of growth, nonfarm payrolls surged by 172,000 in May, above the 88,000 jobs increase expected in a Bloomberg-compiled survey. April was revised upwards to a 179,000 increase, and March payrolls were revised upwards to a 214,000 increase, the Bureau of Labor Statistics said Friday. The net upward revision came in at 93,000 jobs, bringing the 3-month average of payroll increases to 188,000, the strongest pace since March 2024, according to notes from Morgan Stanley and Stifel."We read this employment report as indicating the Fed can and will remove its easing bias in June," a Morgan Stanley research note said. "Perhaps exaggerated by a surge in state gov't payrolls and in leisure, but unquestionably strong labor demand."The unemployment rate remained at 4.3% in May, per the BLS data, as expected. Hourly earnings rose by 0.3%, as expected, and faster than a 0.2% increase in April."We see the next move as a hike with our baseline timing being in 1Q27," said David Doyle, head of economics at Macquarie. "Risks to this have become skewed to an earlier hiking with markets now discounting a hike in 4Q26."The probability of a 25 basis-point increase in interest rates in December surged to 43%, from 36% a week ago, according to the CME FedWatch tool. The comparisons for September were 34% versus 20%, and, for October, the data showed an increase to 40% from 25%.US Treasury yields soared, with the 10-year up 6.1 basis points to 4.54% and the two-year higher by 10.6 basis points to 4.16%.In precious metals, gold futures dropped 3.3% to $4,356.8, and silver futures slumped 7% to $68.84.A potential peace deal between the US and Iran hinges on US President Donald Trump's administration agreeing to release $24 billion in frozen Iranian assets, Mohsen Rezaei, military adviser to Supreme Leader Ayatollah Mojtaba Khamenei, told CNN from Tehran, warning that the US would "enter into a dark corridor" should it resume fighting."The negotiations are at a deadlock and Trump must break this deadlock," Rezaei was cited as saying. "The ball is in Trump's court."West Texas Intermediate crude oil futures declined 2.4% to $90.62, and Brent crude futures fell 1.9% to $93.18.In company news, Lululemon Athletica (LULU) shares slumped 9.2%, among the worst performers on the S&P 500, after the company reported a decline in fiscal Q1 earnings and cut its 2026 guidance.Among the top gainers on the index was Cooper Companies (COO), up 7.1%, after the firm reported stronger-than-expected growth in fiscal Q2 adjusted earnings and sales, and lifted its fiscal 2026 outlook for non-GAAP diluted earnings per share.

Dow JonesNasdaq CompositeS&P 500$COO$LULU

Asia Markets10d ago

US Equity Indexes Slump This Week as Fed Rate Increase Expectations Sink Big Tech, Iran Demands Frozen Assets

US equity indexes dropped this week as big tech tumbled after strong jobs data boosted the odds for monetary policy tightening, while Iran linked the release of billions of dollars of frozen assets to a peace deal with Washington.* The S&P 500 closed at 7,383.59 on Friday versus 7,580.06 a week ago. The Nasdaq Composite stood at about 25,709.43, compared with 26,972.62 a week earlier. The Dow Jones Industrial Average ended at 50,866.78, versus 51,032.46 at the end of last week.* Consumer cyclical, communication services, and technology were among the worst five sectors this week. Amazon.com (AMZN), Tesla (TSLA), and Microsoft (MSFT) were among the bottom 10 companies with a market capitalization of more than $200 billion this week, according to data compiled by Finviz.* Nonfarm payrolls rose by 172,000 in May, above the 88,000 jobs increase expected in a Bloomberg-compiled survey, while April payrolls were revised upwards to a 179,000 increase and March payrolls were revised higher to a 214,000 gain, for a net upward revision of 93,000 jobs.* US job openings rose to 7.618 million in April, above the 6.866 million consensus.* The probability of a 25 basis-point increase in interest rates in December surged to 43%, from 36% a week ago, according to the CME FedWatch tool. The comparisons for September were 34% versus 20%, and, for October, the data showed an increase to 40% from 25%.* A potential peace deal between the US and Iran hinges on US President Donald Trump's administration agreeing to release $24 billion in frozen Iranian assets, Mohsen Rezaei, military adviser to Supreme Leader Ayatollah Mojtaba Khamenei, told CNN from Tehran, warning that the US would "enter into a dark corridor" should it resume fighting.* "The negotiations are at a deadlock, and Trump must break this deadlock," Rezaei was cited as saying in the news report.

Dow JonesNasdaq CompositeS&P 500$AMZN$MSFT$TSLA

International10d ago

US Equity Markets End Lower Amid Technology Stock Sell-Off, Stronger-Than-Expected Jobs Data

US equity indexes were lower on Friday amid a sell-off in mega-cap tech stocks following a stronger-than-expected jobs report.* Nonfarm payrolls surged by 172,000 in May, above the 88,000 jobs increase expected in a Bloomberg-compiled survey. April was revised upwards to a 179,000 increase, and March payrolls were revised upwards to a 214,000 increase, the Bureau of Labor Statistics said Friday.* The probability of a 25 basis-point increase in interest rates in December surged to 43%, from 36% a week ago, according to the CME FedWatch tool.* July West Texas Intermediate crude oil fell $2.76 to settle at $90.28 per barrel, while August Brent crude, the global benchmark, was last seen down $2.12 at $92.91.* Cooper (COO) shares were up about 8.6%, the top gainer on S&P 500, after the company reported stronger-than-expected growth in fiscal Q2 adjusted earnings and sales.* Insmed (INSM) shares were down roughly 10%, among the steepest decliners on the Nasdaq, after RBC Capital Markets said Friday that brensocatib shows strong physician conviction alongside a broad prescribing intent that can enable a significant growth opportunity as doctors develop experience with the drug.

Dow JonesNasdaq CompositeS&P 500$COO$INSM

Japan10d ago

US Equity Indexes Sink as Blockbuster Jobs Report Dims Hopes for Monetary Policy Easing

US equity indexes plunged as a strong jobs report slashed the odds for interest rate cuts this year, sending mega-cap chip names into a tailspin.The Nasdaq Composite slumped 3.8% to 25,818.6, with the S&P 500 down 2.4% to 7,399.8, and the Dow Jones Industrial Average lower by 1.3% to 50,908.5 ahead of Friday's close. Technology was the standout decliner, while consumer staples and real estate topped the gainers.In a third straight month of growth, nonfarm payrolls surged by 172,000 in May, above the 88,000 jobs increase expected in a Bloomberg-compiled survey. April was revised upwards to a 179,000 increase, and March payrolls were revised upwards to a 214,000 increase, the Bureau of Labor Statistics said Friday. The net upward revision came in at 93,000 jobs, bringing the 3-month average of payroll increases to 188,000, the strongest pace since March 2024, according to notes from Morgan Stanley and Stifel.The probability of a 25 basis-point increase in interest rates in December surged to 43%, from 36% a week ago, according to the CME FedWatch tool. The comparisons for September were 33% versus 20%, and, for October, the data showed an increase to 39% from 25%.US Treasury yields soared, with the 10-year up 6.1 basis points to 4.54% and the two-year higher by 11.3 basis points to 4.16%.A potential peace deal between the US and Iran hinges on US President Donald Trump's administration agreeing to release $24 billion in frozen Iranian assets, Mohsen Rezaei, military adviser to Supreme Leader Ayatollah Mojtaba Khamenei, told CNN from Tehran, warning that the US would "enter into a dark corridor" should it resume fighting."The negotiations are at a deadlock and Trump must break this deadlock," Rezaei was cited as saying. "The ball is in Trump's court."West Texas Intermediate crude oil futures declined 2.4% to $90.62, and Brent crude futures fell 1.9% to $93.18.

Dow JonesNasdaq CompositeS&P 500

US Markets10d ago

Equities Fall, Yields Jump Intraday After Jobs Report; Tech Leads Sell-Off

US benchmark equity indexes were lower intraday amid a technology sector-led sell-off, while Treasury yields jumped as markets parsed the latest official jobs report.The Nasdaq Composite was down 3.2% at 25,950.7 after midday Friday, while the S&P 500 fell 2% to 7,434.3. The Dow Jones Industrial Average shed 0.9% to 51,109, after closing at a record high in the previous session.Tech saw the steepest drop among sectors intraday Friday, down 4.7%, while consumer staples paced the gainers.IBM (IBM) shares dropped 6%, the worst performer on the Dow. Cisco Systems (CSCO) and Nvidia (NVDA) followed IBM on the index, down 5.8% and 5.6%, respectively. Several other big tech names also fell. These included Microsoft (MSFT), Oracle (ORCL), Salesforce (CRM), Qualcomm (QCOM), Micron Technology (MU), Advanced Micro Devices (AMD), and Super Micro Computer (SMCI), which tumbled 11% -- the second-worst performer on the S&P 500.In economic news, total nonfarm payrolls in the US rose by 172,000 in May, the Bureau of Labor Statistics said, nearly double the 88,000 increase expected in a Bloomberg-compiled survey."Overall, this was a solid employment report," TD Economics said in a report. "Not only did headline payrolls come in stronger than expected, but revisions to prior months were meaningfully higher and well above six-and-twelve-month averages, suggesting some reacceleration in hiring activity."US Treasury yields were higher intraday, with the 10-year rate up 7.1 basis points at 4.55%, and the two-year rate soaring 11.9 basis points to 4.17%.Markets widely expect the Federal Reserve to leave interest rates unchanged later this month, which would mark its fourth straight pause, according to the CME FedWatch tool."Most (Federal Open Market Committee) participants have said they would prefer to remove the easing bias in the FOMC statement on account of rising inflation risk, and this (jobs) report should reinforce that shift," Morgan Stanley said in a note. "We read this employment report as indicating the Fed can and will remove its easing bias in June."West Texas Intermediate crude oil was down 3.2% at $90.03 a barrel intraday, while Brent fell 2.3% to $92.82.A potential US-Iran peace deal hinges on the Trump administration agreeing to release $24 billion in frozen Iranian assets, CNN reported Friday, citing Mohsen Rezaei, military adviser to Supreme Leader Ayatollah Mojtaba Khamenei."The negotiations are at a deadlock, and (US President Donald) Trump must break this deadlock," Rezaei reportedly said. "The ball is in Trump's court."In company news, FedEx Freight (FDXF) shares jumped 7.8% intraday, the best performer on the S&P 500, as Stifel initiated the stock at hold, with a $160 price target.Gold was down 3.1% at $4,367 per troy ounce, while silver dropped 6.5% to $69.13 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$CRM$CSCO$FDXF$IBM$MSFT$MU$NVDA$ORCL$QCOM$SMCI

Asia Markets10d ago

US Equity Indexes Dive as Blockbuster Jobs Report Set to Eliminate Easing Bias in Fed Policy Statement

US equity indexes sank amid a slide in mega-cap chip names and government bonds, as strong jobs slashed the odds for monetary policy easing this year.The Nasdaq Composite slumped 3% to 26,024.3, with the S&P 500 down 1.8% to 7,448.9, and the Dow Jones Industrial Average lower by 0.8% to 51,148.2 after midday Friday. Technology was the standout decliner, while healthcare and consumer staples topped the gainers.In a third straight month of growth, nonfarm payrolls surged by 172,000 in May, above the 88,000 jobs increase expected in a Bloomberg-compiled survey. April was revised upwards to a 179,000 increase, and March payrolls were revised upwards to a 214,000 increase, the Bureau of Labor Statistics said Friday. The net upward revision came in at 93,000 jobs, bringing the 3-month average of payroll increases to 188,000, the strongest pace since March 2024, according to notes from Morgan Stanley and Stifel."We read this employment report as indicating the Fed can and will remove its easing bias in June," a Morgan Stanley research note said. "Perhaps exaggerated by a surge in state gov't payrolls and in leisure, but unquestionably strong labor demand."The unemployment rate remained at 4.3% in May, per the BLS data, as expected. Hourly earnings rose by 0.3%, as expected, and faster than a 0.2% increase in April.The probability of a 25 basis-point increase in interest rates in December surged to 43%, from 36% a week ago, according to the CME FedWatch tool. The comparisons for September were 33% versus 20%, and, for October, the data showed an increase to 39% from 25%.US Treasury yields soared, with the 10-year up 5.1 basis points to 4.53% and the two-year higher by 10.6 basis points to 4.16%.In precious metals, gold futures dropped 3.3% to $4,356.8, and silver futures slumped 7% to $68.84.Skirmishes continued overnight between Hezbollah and Israel in southern Lebanon after the Iran-backed militant group rejected a US-brokered proposal aimed at securing a broader truce, Bloomberg reported. Even so, Hezbollah's attacks on northern Israel have eased, while Israel has held off striking Beirut after threatening to do so earlier this week, it added.Tehran has made a ceasefire between Israel and Hezbollah a condition for any peace deal with Washington to resolve the regional war and restart shipping through the Strait of Hormuz, Reuters reported.West Texas Intermediate crude oil futures declined 3.4% to $89.92, and Brent crude futures dropped 2.3% to $92.84.In company news, Lululemon Athletica (LULU) shares slumped 9.2%, among the worst performers on the S&P 500, after the company reported a decline in fiscal Q1 earnings and cut its 2026 guidance.Among the top gainers on the index was Cooper (COO), up 7.1%, after the firm reported stronger-than-expected growth in fiscal Q2 adjusted earnings and sales.

Dow JonesNasdaq CompositeS&P 500$COO$LULU

Asia Markets10d ago

Exchange-Traded Funds Fall as US Equities Slump After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV declined. Actively traded Invesco QQQ Trust (QQQ) slumped 3.5%.US equity indexes tumbled, led by tech stocks, after a strong jobs report boosted expectations for an interest-rate increase this year.EnergyIShares US Energy ETF (IYE) fell 1.6%, and the State Street Energy Select Sector SPDR (XLE) lost 1.4%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) slid 5.3%; iShares US Technology ETF (IYW) lost 4.5%, and iShares Expanded Tech Sector ETF (IGM) dropped 4.7%.The State Street SPDR S&P Semiconductor (XSD) plunged 9.4%, and iShares Semiconductor (SOXX) fell 8%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was little changed, paring earlier declines, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), fell 0.1%.CommoditiesCrude oil dropped 3.3%, and the United States Oil Fund (USO) lost 3%. Natural gas and the United States Natural Gas Fund (UNG) each shed 3.5%.Gold on Comex lost 3.1%, and the State Street SPDR Gold Shares (GLD) fell 3.2%. Silver declined 6.4%, and iShares Silver Trust (SLV) fell 6.8%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 2.1%. The Vanguard Consumer Staples ETF (VDC) added 2.1%, and iShares Dow Jones US Consumer Goods (IYK) gained 2.5%.The State Street Consumer Discretionary Select Sector SPDR (XLY) fell 1%. VanEck Retail ETF (RTH) rose 0.7%, and the State Street SPDR S&P Retail (XRT) dropped 0.9%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) climbed 1.5%, iShares US Healthcare (IYH) added 1.3%, and Vanguard Health Care ETF (VHT) rose 1.1%. IShares Biotechnology ETF (IBB) shed 0.8%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) lost 0.6%. Vanguard Industrials Index Fund (VIS) declined 0.6%, while iShares US Industrials (IYJ) fell 1%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 3.5%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 3.5%, ProShares Ether ETF (EETH) shed 10.8%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 5% lower.

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

Japan10d ago

US Equity Indexes Dive as Blockbuster Jobs Report Boosts Fed Rate Increase Bets

US equity indexes slumped amid a sell-off in mega-cap chip names and government bonds, as a strong jobs report lifted the odds for an interest rate increase this year.The Nasdaq Composite sank 2.4% to 26,209.1, with the S&P 500 down 1.4% to 7,478.3, and the Dow Jones Industrial Average lower by 0.6% to 51,277.2 in Friday's midday trading. Technology was the standout decliner, while healthcare and consumer staples topped the gainers.In a third straight month of growth, nonfarm payrolls surged by 172,000 in May, above the 88,000 jobs increase expected in a Bloomberg-compiled survey. April was revised upwards to a 179,000 increase, and March payrolls were revised upwards to a 214,000 increase, the Bureau of Labor Statistics said Friday. The net upward revision came in at 93,000 jobs, bringing the 3-month average of payrolls to 188,000, according to a note from Morgan Stanley.The probability of a 25 basis-point increase in interest rates in December surged to 43%, from 36% a week ago, according to the CME FedWatch tool. The comparisons for September were 33% versus 20%, and, for October, the data showed an increase to 39% from 25%.US Treasury yields soared, with the 10-year up 6.1 basis points to 4.54% and the two-year higher by 10.8 basis points to 4.16%.Skirmishes continued overnight between Hezbollah and Israel in southern Lebanon after the Iran-backed militant group rejected a US-brokered proposal aimed at securing a broader truce, Bloomberg reported. Even so, Hezbollah's attacks on northern Israel have eased, while Israel has held off striking Beirut after threatening to do so earlier this week, it added.West Texas Intermediate crude oil futures declined 2.6% to $90.64, and Brent crude futures dropped 1.8% to $93.35.

Dow JonesNasdaq CompositeS&P 500

Commodities10d ago

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Friday After May Jobs Report

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.5%, and the actively traded Invesco QQQ Trust (QQQ) retreated by 1.3% in Friday's premarket activity, after the May jobs report.US stock futures were mixed, with S&P 500 Index futures down 0.5%, Dow Jones Industrial Average futures gaining 0.1%, and Nasdaq futures retreating 1% before the start of regular trading.US nonfarm payrolls increased by 172,000 in May, exceeding expectations for an 88,000 gain, while the unemployment rate held at 4.3% and average hourly earnings rose 0.3%, in line with forecasts.The weekly Baker Hughes oil-and-gas rig count posts at 1 pm.April's consumer credit data is scheduled for a 3:00 pm ET release.In premarket action, bitcoin was down by 1.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2% lower, Ether ETF (EETH) retreated by 5.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) gained by 0.2%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.3%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) advanced by 0.1%.Lululemon Athletica (LULU) shares were down more than 11% pre-bell after multiple analysts cut their price targets following the athletic apparel retailer's lowering of its full-year outlook amid weak sales trends.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.8%, the Vanguard Health Care Index Fund (VHT) retreated by 0.3%, while the iShares US Healthcare ETF (IYH) slipped 0.7%. The iShares Biotechnology ETF (IBB) was flat.Cooper (COO) was up by nearly 8% premarket after the company reported higher fiscal Q2 adjusted earnings and revenue late Thursday.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.1%, while the Vanguard Industrials Index Fund (VIS) gained 0.5% and the iShares US Industrials ETF (IYJ) was inactive.CAE (CAE) gained by nearly 3% before the opening bell. The company said it has received regulatory approval for the renewal of its normal course issuer bid to purchase, for cancellation, up to about 16.1 million common shares, or about 5% of its outstanding share capital as of May 29.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.Affirm (AFRM) shares were down more than 2% pre-bell after closing the prior session with a 3.7% gain. Affirm and Canada Pension Plan Investment Board said Thursday that they renewed and expanded their forward-flow agreement for consumer installment loans.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.8%, and the iShares US Technology ETF (IYW) was 1.1% lower, while the iShares Expanded Tech Sector ETF (IGM) was up 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 1.7%, while the iShares Semiconductor ETF (SOXX) fell by 3%.Nvidia (NVDA) shares were down 1.8% in premarket activity after ending Thursday's session with a 1.8% increase. Multiple media outlets reported Chief Executive Officer Jensen Huang as saying that the company cleared Samsung Electronics, SK Hynix, and Micron Technology to supply advanced high-bandwidth memory for its HBM4 artificial intelligence accelerators.EnergyThe iShares US Energy ETF (IYE) was up 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was 0.2% higher.X-Energy (XE) stock was up more than 1% before the opening bell a day after the company reported total Q1 revenues and grant income of $43.4 million, representing a 109% increase compared to the prior-year period.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.2% to $92.87 per barrel on the New York Mercantile Exchange. Natural gas was down 0.9% to $3.31 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 0.3%, while the United States Natural Gas Fund (UNG) was 1.7% lower.Gold futures for July retreated by 0.3% to $4,492.60 an ounce on the Comex. Silver futures declined by 1.4% to $72.91 an ounce. SPDR Gold Shares (GLD) was down by 0.2%, and the iShares Silver Trust (SLV) decreased by 1.5%.

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

Asia Markets10d ago

US Equity Futures Mostly Lower Pre-Bell Amid Continued Tech Stock Sell-Off, US-Iran War Entering Fourth Month

US equity futures were mostly lower pre-bell Friday as a sell-off in tech stocks continued and the US-Iran conflict entered its fourth month.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were down 0.5%, and Nasdaq futures were 1.2% lower.Broadcom (AVGO) shares were down 2% in premarket activity after plunging 12.6% on Thursday, joining a broader stock sell-off in the semiconductor industry.US President Donald Trump said he would meet with Iranian Supreme Leader Ayatollah Mojtaba Khamenei if a deal is finalized to end the US-Iran war. The ceasefire between the two nations continues to be fragile, with attacks exchanged earlier in the week.Traders took note of the latest round of earnings, with Ciena (CIEN) reporting higher fiscal Q2 adjusted net income and revenue.Oil prices were marginally lower, with front-month global benchmark North Sea Brent crude down 0.1% at $94.93 per barrel and US West Texas Intermediate crude 0.1% lower at $92.95 per barrel.The May national unemployment rate was reported at 4.3%, unchanged from the prior month and meeting estimates compiled by Bloomberg.In other world markets, Japan's Nikkei closed 1.3% lower, Hong Kong's Hang Seng ended 1.2% lower, and China's Shanghai Composite finished 0.7% lower. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was steady in Europe's early afternoon session.In equities, ARM (ARM), Micron Technology (MU), and Marvell Technology (MRVL) shares were all down as traders continued unloading stocks in the semiconductor sector. ARM shares fell 5.5%, Micron stock was down 4.1%, and Marvell shares dropped 3.5%. Lululemon Athletica (LULU) stock was down 11% after the company reported a decline in fiscal Q1 earnings and trimmed its 2026 outlook.On the winning side, ServiceTitan (TTAN) stock was up 13% after the company posted fiscal Q1 results that surpassed analysts' expectations and raised its fiscal 2027 revenue guidance.

Dow JonesNasdaq CompositeS&P 500$ARM$AVGO$CIEN$LULU$MRVL$MU$TTAN

Japan10d ago

US Equity Futures Mostly Lower Pre-Bell Amid Continued Tech Stock Sell-Off, US-Iran War Entering Fourth Month

Dow JonesNasdaq CompositeS&P 500$AVGO$CIEN

US Markets10d ago

Stocks Mostly Down Pre-Bell as Investors Await Key Jobs Report

The benchmark US stock measures were mostly tracking in the red before the open Friday as traders await a key employment report for May.The S&P 500 decreased 0.5% and the Nasdaq was off 1% in premarket activity, while the Dow Jones Industrial Average edged up 0.1%. The indexes finished the previous trading session mostly up, with the Dow recording a fresh closing high.The nonfarm payrolls report for last month is scheduled to be released at 8:30 am ET. Government data is expected to show that the US economy added 85,000 jobs in May, compared with a 115,000 gain reported for the month prior, according to a Bloomberg poll.Job cut announcements in May hit the highest for the month since 2020, Challenger, Gray & Christmas said Thursday, while US weekly applications for unemployment insurance rose unexpectedly. Earlier in the week, ADP (ADP) reported stronger-than-expected private-sector hiring for May.Treasury yields were down in premarket action, with the two-year rate retreating 0.4 basis points to 4.05% and the 10-year rate declining 0.2 basis points to 4.48%.Friday's economic calendar also has the weekly Baker Hughes oil-and-gas rig count at 1 pm.President Donald Trump reportedly said Thursday he'd be "honored" to meet Iran's new Supreme Leader Mojtaba Khamenei if a peace deal is agreed between Washington and Tehran. Mojtaba Khamenei was named the supreme leader in Iran after his father, Ali Khamenei, was killed in strikes by the US and Israel in late February.West Texas Intermediate crude oil slipped 0.2% to $92.87 a barrel before the opening bell, while Brent nudged 0.1% lower to $94.90.Hezbollah leader Naim Qassem on Thursday rejected a US-brokered ceasefire agreement between Israel and Lebanon. The two countries agreed to the truce, subject to Iran-backed Hezbollah ending all fire and evacuating its operatives from the South Litani Sector, according to a joint statement from the US, Israel and Lebanon released Wednesday.But just hours after the deal, Israeli forces and Hezbollah fighters launched strikes, CNN reported Thursday.Shares of Lululemon Athletica (LULU) dropped 13% pre-bell after the athletic apparel retailer lowered its full-year outlook amid certain headwinds and deteriorating sales trends. Micron Technology (MU) declined 3.3% after closing the previous session down 7.7%.ABM Industries (ABM) and G-III Apparel (GIII) report their latest financial results before the bell, among others.Gold decreased 0.3% to $4,491 per troy ounce, while bitcoin slid 1.6% to $62,671.

Dow JonesNasdaq CompositeS&P 500$ABM$GIII$LULU$MU

International10d ago

Tech, Persian Gulf Views Pressure Wall Street Pre-Bell; Asia Off, Europe Up

Wall Street futures largely pointed moderately lower pre-bell Friday, as traders locked into a risk-off mood on rich tech-sector valuations and on lengthening Persian Gulf uncertainties.In the futures, the S&P 500 fell 0.4% and the Nasdaq declined 1%, although the Dow Jones was up 0.1%.Investors also await the May national jobs report from Washington at 8:30 am ET, sure to be plumbed for clues to the strength of the US employment market in the face of higher energy bills.Asian exchanges traded lower overnight, led by a 5.5% divot on Seoul's KOSPI index, as tech shares weakened.European bourses edged higher midday on the continent.Lululemon Athletica (LULU) traded down 13% pre-bell after the apparel maker reported fiscal Q1 results and trimmed guidance late Thursday.On the economic calendar, in addition to the jobs report, is the weekly Baker Hughes domestic oil-and-gas rig count at 1 pm ET, followed by the Federal Reserve's consumer credit report for April at 3 pm.In premarket action, Bitcoin traded at $62,550, West Texas Intermediate crude oil traded off 0.4% at $92.64, and 10-year US Treasuries offered 4.47%. Spot gold commanded $4,464 an ounce.

Dow JonesNasdaq CompositeS&P 500$LULU

International11d ago

US Equity Indexes Mixed as Sliding Technology Pulls Nasdaq Composite Lower, Crude Oil Sinks

US equity indexes were mixed as technology declined amid a broad-based rally, while slumping crude oil futures helped push government bond yields lower.The Dow Jones Industrial Average jumped 1.7% to 51,561.93, and the S&P 500 climbed 0.4% to 7,584.31. The Nasdaq Composite slipped less than 0.1% to 26,830.96.All sectors but technology and consumer staples rose. Healthcare and financials were standout gainers, followed by communication services.Broadcom's (AVGO) decision not to upgrade its 2027 artificial intelligence guidance apparently disappointed investors, especially as the chip designer reported strong semiconductor demand, UBS Securities said in a client note sent Thursday.Broadcom shares fell almost 13%, among the worst performers in the S&P 500 and the Nasdaq, weighing on the so-called artificial intelligence trade in the tech sector. Shares of Micron Technology (MU), Arm (ARM), and Advanced Micro Devices (AMD) were among the worst performers in a group of companies with a market capitalization of more than $200 billion, according to data compiled by Finviz.In geopolitical news, Hezbollah on Thursday rejected the latest ceasefire agreement between Israel and the Lebanese government, demanding a complete Israeli withdrawal from Lebanon as more fighting there hampered efforts to end the Iran war, the Associated Press reported.This comes as the House on Wednesday approved a war powers resolution that would halt US military action against Iran, according to a separate Associated Press report. If the resolution were to pass in the Senate, where 50 of 100 senators have appeared to support it, President Donald Trump would be required to either withdraw troops from Iran or gain approval from Congress for the war, according to an analysis from CNN.The White House, which has signaled it believes the underlying law is unconstitutional, could try to ignore the resolution, per CNN.Meanwhile, Tehran and Washington have issued contradictory messages over the status of ceasefire discussions, CNN reported. Trump said Thursday that a deal could be reached "this weekend," while Iran's foreign minister said there's been no "significant process," the news report said.West Texas Intermediate crude oil futures slumped 3.2% to $92.99, and Brent crude futures dropped 2.7% to $95.17.US Treasury yields fell, with the 10-year down 1.6 basis points to 4.48% and the two-year lower by 3.9 basis points to 4.05%.In precious metals, gold futures climbed 0.9% to $4,505.70, and silver futures advanced 0.7% to $74.20.In US economic news, employers announced 97,006 layoffs in May, the highest for the month since 2020, up 16% from April and 3% from a year earlier, with the shift toward artificial intelligence still the leading reason for cuts, Challenger, Gray & Christmas said Thursday."On top of the headline AI story, we're seeing a sharp rise in cuts tied to acquisitions and mergers and a jump in bankruptcy-related losses, which tells me companies are restructuring aggressively as they reposition for an AI-driven economy," Andy Challenger, the firm's chief revenue officer, said in a statement. "The labor market is being reshaped by technology in real time."US initial jobless claims rose to 225,000 in the week ended May 30 from a downwardly revised 212,000 in the previous week, compared with expectations for 215,000 in a survey of analysts compiled by Bloomberg. The four-week moving average jumped by 6,500 to 214,750.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$AVGO$MU

US Markets11d ago

Dow Logs New High Even as Tech Underperforms

The Dow Jones Industrial Average resumed its record-setting advance on Thursday, even as the technology sector underperformed amid a sell-off in Broadcom (AVGO) and CrowdStrike (CRWD) shares.The Dow rose 1.7% to 51,561.9, notching a fresh closing high after falling on Wednesday for the first time in six sessions. The S&P 500 gained 0.4% to 7,584.3, while the Nasdaq Composite fell 0.1% to 26,831.Barring tech and consumer staples, all sectors ended in the green, led by healthcare.In company news, Broadcom shares tumbled nearly 13%, the second-worst performer on the S&P 500 as the company's artificial intelligence revenue outlook fell short of the market's bullish expectations.The company's decision not to upgrade its 2027 guidance for AI sales apparently disappointed investors, especially as the chip designer reported strong semiconductor demand for its fiscal second quarter, UBS Securities analysts said.CrowdStrike reported strong fiscal first-quarter results amid accelerating demand for AI, but questions around performance sustainability remain, BofA Securities said. The stock fell 3.8%.Ciena (CIEN) plunged nearly 14%, the steepest decline on the S&P 500, despite providing an upbeat fiscal third-quarter revenue outlook. The networking systems and software company's results topped market estimates in the prior three-month period."AI and cybersecurity remain important long-term themes, but popular themes can carry heavy expectations," Ruben Dalfovo, investment strategist at Saxo Bank, said in a report. "In a hot market, even excellent earnings may need to bring their own fire extinguisher."UnitedHealth (UNH) climbed 5.2%, the top gainer on the Dow, after BofA Securities upgraded its rating on the stock to buy from neutral.West Texas Intermediate crude oil was down 3% at $93.19 a barrel in Thursday late-afternoon trade, while Brent fell 2.6% to $95.30.Israel and Lebanon agreed to implement a ceasefire, subject to Iran-backed Hezbollah ending all fire and evacuating its operatives from the South Litani Sector, according to a joint statement from the US, Israel and Lebanon released Wednesday.But just hours after the deal, Israeli forces and Hezbollah fighters launched strikes, CNN reported."News that Israel and Lebanon agreed on a ceasefire could potentially open the door for talks to advance," ING Bank said in a report on Thursday. "Every day that passes without a resumption of oil flows (through the Strait of Hormuz) leaves the market increasingly vulnerable. This increases the pressure to strike a deal."In economic news, job cut announcements in May hit the highest for the month since 2020, Challenger, Gray & Christmas said Thursday, while US weekly applications for unemployment insurance rose unexpectedly."On top of the headline AI story, we're seeing a sharp rise in cuts tied to acquisitions and mergers and a jump in bankruptcy-related losses, which tells me companies are restructuring aggressively as they reposition for an AI-driven economy," Andy Challenger, the firm's chief revenue officer, said in a statement. "The labor market is being reshaped by technology in real time."The Challenger report arrives a day before the May nonfarm payrolls release. Economists surveyed by Bloomberg expect 85,000 new jobs, down from 115,000 in April, with the unemployment rate seen holding at 4.3%.US Treasury yields were lower, with the 10-year rate down 2.4 basis points at 4.48%, and the two-year rate falling three basis points to 4.06%.Gold was last up 0.9% at $4,507 per troy ounce, while silver rose 0.8% to $74.31 per ounce.

Dow JonesNasdaq CompositeS&P 500$AVGO$CIEN$CRWD$UNH

International11d ago

US Equity Markets Mixed Amid Technology Stock Sell-Off, Decline in Crude Oil Prices

US equity indexes were mixed on Thursday amid a sell-off in tech stocks and a decline in crude oil futures, along with lower government bond yields.* Challenger, Gray & Christmas said Thursday employers announced 97,006 layoffs in May, the highest for the month since 2020, up 16% from April and 3% from a year earlier.* US initial jobless claims rose to 225,000 in the week ended May 30 from a downwardly revised 212,000 in the previous week, compared with expectations for 215,000 in a survey of analysts compiled by Bloomberg.* The Associated Press reported on Thursday that Hezbollah rejected the latest ceasefire agreement between Israel and the Lebanese government, while the media outlet separately reported that the US House on Wednesday approved a war powers resolution that would halt US military action against Iran.* July West Texas Intermediate crude oil fell $2.86 to settle at $93.16 per barrel, while August Brent crude, the global benchmark, was last seen down $2.53 at $95.28.* Blackstone's (BX) shares were up about 8.3%, the top gainer on the S&P 500, after its Blackstone Private Credit Fund unit reportedly said repurchase requests equaled about 10% of shares outstanding in Q2, but it will fulfill requests representing just 5% of its value.* Broadcom (AVGO) shares fell roughly 12%, the steepest decline on the Nasdaq, after it reported fiscal Q2 results late Wednesday. The company's fiscal Q3 and 2027 AI revenue outlook fell short of investor expectations, while Q2 results were slightly ahead of consensus, RBC and UBS said in separate notes.

Dow JonesNasdaq CompositeS&P 500$AVGO$BX

International11d ago

US Equity Indexes Rise Amid Broad-Based Rally in Final Leg of Trading

US equity indexes rose ahead of Thursday's close as technology partially clawed back intraday declines, helping widen a broad-based rally.The Dow Jones Industrial Average jumped 1.9% to 51,634.6, and the S&P 500 climbed 0.5% to 7,593.2. The Nasdaq Composite edged up 0.1% to 26,896.7, after trading lower earlier in the session.All sectors but technology and consumer staples rose. Healthcare and financials were standout gainers, followed by communication services.Broadcom's (AVGO) decision not to upgrade its 2027 artificial intelligence guidance apparently disappointed investors, especially as the chip designer reported strong semiconductor demand, UBS Securities said in a client note sent Thursday.Broadcom shares fell more than 13%, among the worst performers in the S&P 500 and the Nasdaq, weighing on the so-called artificial intelligence trade. Shares of Micron Technology (MU), Arm (ARM), and Advanced Micro Devices (AMD) were among the worst performers in a group of companies with a market capitalization of more than $200 billion, according to data compiled by Finviz.In geopolitical news, Hezbollah on Thursday rejected the latest ceasefire agreement between Israel and the Lebanese government, demanding a complete Israeli withdrawal from Lebanon as more fighting there hampered efforts to end the Iran war, the Associated Press reported.This comes as the House on Wednesday approved a war powers resolution that would halt US military action against Iran, according to a separate Associated Press report. If the resolution were to pass in the Senate, where 50 of 100 senators have appeared to support it, US President Donald Trump would be required to either withdraw troops from Iran or gain approval from Congress for the war, according to an analysis from CNN.The White House, which has signaled it believes the underlying law is unconstitutional, could try to ignore the resolution, per CNN.West Texas Intermediate crude oil futures slumped 3% to $93.14, and Brent crude futures dropped 2.7% to $95.18.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$AVGO$MU

US Markets11d ago

Equities Higher Intraday as Broadcom Sell-Off Weighs on Tech Sector

US benchmark equity indexes were higher intraday, even as a sell-off in Broadcom (AVGO) shares weighed on the technology sector.The Dow Jones Industrial Average was up 1.6% at 51,517.2 after midday Thursday, while the S&P 500 rose 0.4% to 7,586.8. The Nasdaq Composite edged up 0.1% to 26,872. Barring technology and materials, all sectors were in the green, led by healthcare.In company news, Broadcom shares were down nearly 12% intraday, the second-worst performer on the S&P 500 as the company's artificial intelligence revenue outlook fell short of the market's bullish expectations.The company's decision not to upgrade its 2027 guidance for AI sales apparently disappointed investors, especially as the chip designer reported strong semiconductor demand for its fiscal second quarter, UBS Securities analysts said.CrowdStrike (CRWD) reported strong fiscal first-quarter results amid accelerating demand for artificial intelligence, but questions around the company's performance sustainability remain, BofA Securities said. The stock was down 4.6%.Ciena (CIEN) plunged 15% despite providing an upbeat fiscal third-quarter revenue outlook on Thursday. The networking systems and software company's results topped market estimates in the prior three-month period.UnitedHealth (UNH) was up 5% intraday, the top gainer on the Dow, after BofA Securities upgraded its rating on the stock to buy from neutral.West Texas Intermediate crude oil was down 3.9% at $92.27 a barrel intraday Thursday, while Brent fell 3.2% to $94.67.Israel and Lebanon agreed to implement a ceasefire, subject to Iran-backed Hezbollah ending all fire and evacuating its operatives from the South Litani Sector, according to a joint statement from the US, Israel and Lebanon released Wednesday.But just hours after the deal, Israeli forces and Hezbollah fighters launched strikes, CNN reported."News that Israel and Lebanon agreed on a ceasefire could potentially open the door for talks to advance," ING Bank said in a report on Thursday. "Every day that passes without a resumption of oil flows (through the Strait of Hormuz) leaves the market increasingly vulnerable. This increases the pressure to strike a deal."In economic news, job cut announcements in May hit the highest for the month since 2020, Challenger, Gray & Christmas said Thursday, while US weekly applications for unemployment insurance rose unexpectedly."On top of the headline AI story, we're seeing a sharp rise in cuts tied to acquisitions and mergers and a jump in bankruptcy-related losses, which tells me companies are restructuring aggressively as they reposition for an AI-driven economy," Andy Challenger, the firm's chief revenue officer, said in a statement. "The labor market is being reshaped by technology in real time."The Challenger report arrives a day before the May nonfarm payrolls release. Economists surveyed by Bloomberg expect 85,000 new jobs, down from 115,000 in April, with the unemployment rate seen holding at 4.3%.US Treasury yields were lower intraday, with the 10-year rate down 2.8 basis points at 4.47%, and the two-year rate falling 3.3 basis points to 4.05%.Gold was up 0.9% at $4,508.50 per troy ounce, while silver rose 0.8% to $74.28 per ounce.

Dow JonesNasdaq CompositeS&P 500$AVGO$CIEN$CRWD$UNH

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