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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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Asia Markets

Update: US Equity Futures Mostly Flat Pre-Bell as Global Bond Yields Continue Rising

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mostly flat pre-bell Wednesday as traders observed global bond yields continuing to increase amid inflation concerns.Dow Jones Industrial Average futures were 0.2% higher, but S&P 500 futures were up 0.1%, and Nasdaq futures were down 0.1%.The US 10-year Treasury note yield reached a high of 4.814%, while borrowing costs in the UK, Germany and France also increased.US Central Command said in a post on X that US forces completed a wave of strikes against Iranian military targets on Tuesday. Iran attacked US allies Kuwait and Bahrain in response.President Donald Trump said he was not trying to force Iran back into negotiations. "I like our position now much better, with almost total control of the Hormuz Strait, and their economy totally collapsing," Trump said in a post on Truth Social.Broadcom (AVGO) is scheduled to report its fiscal Q3 earnings after the market closes. Analysts polled by FactSet expect earnings of $3.22 per share on revenue of $29.24 billion.Oil prices are lower, with front-month global benchmark North Sea Brent crude down 0.4% at $94.29 per barrel and US West Texas Intermediate crude 0.7% lower at $89.55 per barrel.ADP's national employment report showed that private sector employment increased by 38,000 in August, below expectations for a 47,000 gain in a survey compiled by Bloomberg.July factory orders, due at 10 am ET, are expected to have gained 0.7%, compared with a decline of 0.3% previously. The Fed's Beige Book report will be released at 2:00 pm ET.In other world markets, Japan's Nikkei closed 2.9% lower, Hong Kong's Hang Seng ended 0.1% lower, and China's Shanghai Composite finished 1% lower. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, Dell Technologies (DELL) stock rose 8.8% after the company posted higher fiscal Q2 adjusted earnings and revenue in addition to lifting its full-year guidance. Uber Technologies (UBER) shares were up 1.9% after Chief Executive Dara Khosrowshahi said in an email to employees that the company is laying off roughly 10% of its workforce as part of a restructuring effort. Hewlett Packard Enterprise (HPE) stock was 4.4% higher after Tottenham Hotspur Football Club said it has expanded its partnership with the company to modernize the technology infrastructure for the club's stadium, including hybrid cloud, networking and artificial intelligence-driven operations.On the losing side, Palantir Technologies (PLTR) shares fell 1.7% after former Ukrainian Defense Minister Mykhailo Fedorov said Tuesday in a post on X that Chief Executive Alex Karp will become the first lead investor in his defense tech startup. Manulife Financial (MFC) stock was 3.7% lower after company said Tuesday it priced a $750 million public offering in the US of 6.146% subordinated notes due 2041.

Dow JonesNasdaq CompositeS&P 500$AVGO$DELL$HPE$MFC$PLTR$UBER
Japan

US Equity Futures Slightly Lower Pre-Bell as Global Bond Yields Continue Rising

US equity futures were mostly lower pre-bell Wednesday as traders observed global bond yields continuing to increase amid inflation concerns.Dow Jones Industrial Average futures were 0.1% higher, but S&P 500 futures were down 0.1%, and Nasdaq futures were off 0.3%.The US 10-year Treasury note yield reached a high of 4.814%, while borrowing costs in the UK, Germany and France also increased.US Central Command said in a post on X that US forces completed a wave of strikes against Iranian military targets on Tuesday. Iran attacked US allies Kuwait and Bahrain in response.President Donald Trump said he was not trying to force Iran back into negotiations. "I like our position now much better, with almost total control of the Hormuz Strait, and their economy totally collapsing," Trump said in a post on Truth Social.Broadcom (AVGO) is scheduled to report its fiscal Q3 earnings after the market closes. Analysts polled by FactSet expect earnings of $3.22 per share on revenue of $29.24 billion.Oil prices are lower, with front-month global benchmark North Sea Brent crude down 0.9% at $93.83 per barrel and US West Texas Intermediate crude 1.1% lower at $89.19 per barrel.The ADP employment report for August, expected at 8:15 am ET, is seen increasing to 47,000 from 44,000 in the prior month, according to estimates compiled by Bloomberg.July factory orders, due at 10 am ET, are expected to have gained 0.7%, compared with a decline of 0.3% previously. The Fed's Beige Book report will be released at 2:00 pm ET.

Dow JonesNasdaq CompositeS&P 500$AVGO
Stocks Fall Pre-Bell Amid Rising Middle East Tensions, Bond Yields
US Markets

Stocks Fall Pre-Bell Amid Rising Middle East Tensions, Bond Yields

The main US stock measures were trending lower in Wednesday's premarket activity amid escalating tensions in the Middle East and rising bond yields.The S&P 500 declined 0.2%, the Dow Jones Industrial Average edged down 0.1%, and the Nasdaq was off 0.5% before the opening bell. The indexes finished Tuesday trading in the red for the third consecutive session.The US Central Command said Tuesday that its forces completed a wave of strikes against Iranian military targets, following recent attempted attacks by the Islamic Revolutionary Guard Corps against commercial shipping in the Strait of Hormuz.Iran reportedly launched retaliatory drones and missiles on US bases in Kuwait, Jordan and Bahrain, according to multiple media outlets.West Texas Intermediate crude oil rose 0.3% to $90.50 a barrel in premarket action, while Brent increased 0.5% to $95.11.In a social media post on Tuesday, President Donald Trump said he's "not trying to force Iran" to resume negotiations with the US. "I like our position now much better, with almost total control of the Hormuz Strait, and their economy totally collapsing," Trump wrote.Treasury yields were moving higher before the open, with the 10-year rate up 1.8 basis points to 4.81%, reportedly reaching its highest level since November 2023. The two-year rate inclined 0.8 basis points to 4.4%, while the 30-year yield gained 1.9 basis points to 5.29%."Higher yields are proving to be the stock market's undoing," Thierry Wizman, global foreign exchange and rates strategist at Macquarie Group, said in a note e-mailed toon Tuesday. "They force analysts to discount higher earnings more aggressively, thus forcing (price-to-earnings) multiples downward."The Federal Reserve should tighten monetary policy unless inflation cools down, Governor Michael Barr said Tuesday, adding to a growing chorus of hawkish views from policymakers. Fed Chair Kevin Warsh said last week that the central bank's primary focus should be on prices, given that the US is doing well on the employment front.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the ADP Employment report for August at 8:15 am. The Fed's Beige Book, a compilation of economic and business reports from the 12 regional Fed branches, is out at 2 pm.Shares of Dell Technologies (DELL) spiked 9.3% pre-bell after the computer maker's fiscal second-quarter results beat Wall Street's estimates. Palo Alto Networks (PANW) retreated nearly 2% as the cybersecurity firm's fiscal fourth-quarter adjusted gross margin declined year over year.Credo Technology (CRDO) and MongoDB (MDB) fell 8.9% and 13%, respectively, following their latest financial results.Brown Forman (BF.A, BF.B), Ollie's Bargain Outlet (OLLI) and FuelCell Energy (FCEL) are expected to release their quarterly earnings before the bell, among others. Broadcom (AVGO), Snowflake (SNOW), Hewlett Packard Enterprise (HPE) and Five Below (FIVE) post their results after the markets close.Gold declined 0.9% to $4,365 per troy ounce, while bitcoin slipped 1% to $76,467.

Dow JonesNasdaq CompositeS&P 500$AVGO$BF.A$BF.B$CRDO$DELL$FCEL$FIVE$HPE$MDB$OLLI$PANW$SNOW
Asia Markets

Global Bond Selloff Undercuts Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed moderately lower pre-bell as global bond yields continued to grind higher, triggered by rising oil prices and heavy government borrowing.In the futures, the S&P 500 fell 0.2%, the Nasdaq declined 0.5% and the Dow Jones was off 0.1%.West Texas Intermediate crude oil traded down 0.2% at $90.33, in morning hours.The VanEck Semiconductor fund (SMH) traded down nearly 1%, before the bell.Yields 10-year US Treasuries offered 4.81% in morning trades, testing 13-year highs. Government bond yields in Germany, Japan and the UK are also notching multi-year highs.Asian exchanges traded mostly lower overnight, led by a 4% slip on Seoul's semiconductor-laden KOSPI index.European bourses tracked moderately south midday on the continent.Dell Technologies (DELL) traded up 7.8% pre-bell after the IT outfit overnight reported fiscal Q2 earnings and revenue above expectations, and boosted guidance.On the economic calendar is the August ADP Employment Report at 8:15 am ET.The factory orders bulletin for July logs at 10 am, followed by the weekly EIA petroleum status report at 10:30 am.The Beige Book, the Federal Reserve's semi-quarterly compilation of economic and business reports from the 12 regional branches, posts at 2 pm.In pre-market action, Bitcoin traded at $76,513, and spot gold was lower at $4,363 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Update: US Equity Indexes Drop as Treasury Yields, Crude Oil Surge Following Fresh Military Strikes on Iran

(Updates with index/price moves, macroeconomic data and geopolitical news from the first paragraph.)US equity indexes fell amid soaring crude oil prices and the markets witnessed a surge in the benchmark government bond yield to the highest in about 18 months, as Iran vowed to inflict severe damage following Washington's strikes on targets on the Islamic Republic on Tuesday afternoon.The Nasdaq Composite fell 1% to 26,099.77, the S&P 500 retreated 0.7% to 7,631.47, and the Dow Jones Industrial Average slid 0.8% to 52,766.88 ahead of the market close. Consumer discretionary, industrials, materials and technology led decliners, while energy topped gainers.US forces began striking Islamic Revolutionary Guard Corps targets in Iran, the US Central Command said in a message on X, formerly Twitter. The strikes follow recent attempted attacks by the IRGC against commercial shipping in the Strait of Hormuz and against American service members deployed to the region. These new hostilities come as the duo traded attacks overnight and into Monday, the first exchange after more than a month.Iranian media reported explosions in Bandar Abbas, Qeshm Island, Konarak, Chabahar, Jask, Sirik and Lavan, Al Jazeera, a Middle Eastern broadcaster, reported. Iran's army and the Iran Revolutionary Guards Corps promised the US would regret and face "severe punishment" for the aggression, the news report said.Meanwhile, US Secretary of the Treasury Scott Bessent said the Iran blockade is "very powerful" and "we are going to economically asphyxiate this regime," Al Jazeera reported. The US will announce new sanctions on "anyone that does business with the IRGC" while the US is "tracking down the IRGC's assets," Bessent was cited as saying.If the US "will is that we do not export oil [then] no one will be able to export oil," Iran's Parliament Speaker Mohammad Bagher Ghalibaf said in a video message shared by Iranian news agencies, according to Al Jazeera.The front-month US West Texas Intermediate crude oil contract surged 5.9% to $90.83 per barrel, and global benchmark North Sea Brent soared 5.3% to $95.32 per barrel.Most US Treasury yields rose. The 10-year yield jumped 3.8 basis points to 4.8%, the highest since January 2025, and the two-year advanced five basis points to 4.4%.Gold futures dropped 2.4% to $4,372.7, and silver futures slumped 3.5% to $64.62.In economic news, US job openings rose to 7.271 million in July, according to the Bureau of Labor Statistics, below the 7.313 million openings expected in a survey compiled by Bloomberg, but up from the 7.182 million openings reported in June. The July level represents 4.4% of total employment, up from 4.3% in June and 4.3% a year earlier.The Institute for Supply Management's US manufacturing index fell to 54.6 in August from 55.6 in July, compared with expectations for 55.2 in a survey compiled by Bloomberg. The index indicates expansion, in line with most regional manufacturing sector readings and the S&P Global index, but contrasts with the Chicago PMI reading that suggested contraction.The first look at consumer confidence for September improved from August, with the RealClearMarkets' monthly index rising to 45.6 from 45.1. The index reading was the highest since March.The probability of the Federal Reserve raising its target rate by 25 basis points to 3.75%-4.0% in September surged to 68% late Tuesday from 40% a day ago, according to the CME FedWatch tool. The likelihood of another increase of the same magnitude in October is more than a fifth, putting into perspective a 9% chance of the rates remaining at the current level by December.

Dow JonesNasdaq CompositeS&P 500
Update: Wall Street's Pullback Deepens as Oil, Yields Surge
US Markets

Update: Wall Street's Pullback Deepens as Oil, Yields Surge

(Updates with market moves at the end of the day, and other changes, if any.)US equity benchmarks fell for a third straight session on Tuesday as traders fretted over surging oil prices and bond yields.The Nasdaq Composite closed 1% lower at 26,099.77, while the Dow Jones Industrial Average declined 0.8% to 52,766.88. The S&P 500 lost 0.7% to 7,631.47. Most sectors were in the red, led by consumer discretionary, while energy paced the gainers.West Texas Intermediate crude oil jumped 5.7% to $90.63 a barrel in Tuesday late-afternoon trade, while Brent advanced 5.1% to $95.11.The US military launched fresh attacks on Iran, striking Islamic Revolutionary Guard Corps targets, the US Central Command said Tuesday in a post on social media platform X.Iran vowed to retaliate and would "deliver crushing and devastating blows" against the "American enemy," state broadcaster IRIB reported, according to CNN.The latest US military actions came after Iran attacked US bases in Jordan, in retaliation for Washington striking Iranian rocket launchers on Tehran's Larak Island on Sunday.US Treasury yields jumped, with the 10-year rate up 3.4 basis points at 4.79%, reaching its highest level since January 2025. The two-year yield rose 4.4 basis points to 4.39%."Higher yields are proving to be the stock market's undoing," Thierry Wizman, global foreign exchange and rates strategist at Macquarie Group, said in a note e-mailed to. "They force analysts to discount higher earnings more aggressively, thus forcing (price-to-earnings) multiples downward."Markets are now pricing in a 68% probability that the Federal Reserve will increase its benchmark lending rate by 25 basis points later this month, compared with about 40% a week ago, according to the CME FedWatch tool. The probability that the Fed will keep interest rates steady fell to 32% from 60%.The Fed should tighten monetary policy unless inflation cools down, Governor Michael Barr said Tuesday, adding to a growing chorus of hawkish views from policymakers. Fed Chair Kevin Warsh said Friday that the central bank's primary focus should be on prices, given that the US is doing well on the employment front.In economic news, the US manufacturing sector continued to expand in August, with an Institute for Supply Management survey pointing to a slight deceleration sequentially and S&P Global (SPGI) data indicating a steady growth rate.Official data are expected to show Friday that US economy added 55,000 nonfarm jobs in August, according to a Bloomberg-polled consensus. Employment unexpectedly fell in July amid a marked decline in government payrolls.In company news, Nio (NIO) posted a 69% year-over-year increase in its second-quarter revenue amid growth in vehicle deliveries, which are expected to continue rising in the ongoing quarter. The Chinese electric vehicle maker's American depositary receipts fell 4%.Palo Alto Networks (PANW) shares declined 5.2%. The company released its quarterly results after the closing bell Tuesday.Spot gold lost 2.5% to $4,328.41 per troy ounce, while silver dropped 3.4% to $64.72 per ounce.

Dow JonesNasdaq CompositeS&P 500$NIO$PANW$SPGI
Japan

US Equity Markets End Lower as Oil, Bond Yields Rise After US Strikes on Iran

US equity indexes ended lower Tuesday after crude oil prices and government bond yields rose following US attacks on Iranian targets.* US forces began striking Islamic Revolutionary Guard Corps targets in Iran, the US Central Command said. The strikes follow recent attempted attacks by the IRGC against commercial shipping in the Strait of Hormuz and against US service members deployed to the region.* US job openings rose to 7.271 million in July, according to the Bureau of Labor Statistics, below 7.313 million expected in a survey compiled by Bloomberg.* The Institute for Supply Management's US manufacturing index fell to 54.6 in August from 55.6 in July, compared with expectations for 55.2 in a survey compiled by Bloomberg.* October West Texas Intermediate crude oil rose $4.80 to settle at $90.56 per barrel, while November Brent crude, the global benchmark, was last seen up $4.57 at $95.06.* Interactive Brokers Group (IBKR) shares fell 7%, the third-biggest drop on the S&P 500, after UBS downgraded the stock to neutral from buy.* Bunge Global (BG) shares rose 4.2% after the company agreed to sell its Rio Vermelho and Nova Unialco sugarcane mills in Sao Paulo to Cofco International.

Dow JonesNasdaq CompositeS&P 500$BG$IBKR
Japan

Update: US Equity Indexes Drop as Fresh Military Strikes on Iran Send Crude Oil Sharply Higher

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes fell amid soaring crude oil prices and a surge in the benchmark government bond yield to the highest in about 18 months as Iran vowed to inflict severe damage following Washington's strikes on targets in the Islamic Republic on Tuesday afternoon.The Nasdaq Composite fell 1.1% to 26,095.2, the S&P 500 retreated 0.78% to 7,628.3, and the Dow Jones Industrial Average slid 0.8% to 52,761.5 ahead of the market close.US forces began striking Islamic Revolutionary Guard Corps targets in Iran, the US Central Command said in a message on X, formerly Twitter. The strikes follow recent attempted attacks by the IRGC against commercial shipping in the Strait of Hormuz and against American service members deployed to the region. These new hostilities come as the duo traded attacks overnight into Monday, the first exchange after more than a month.Iranian media reported explosions in Bandar Abbas, Qeshm Island, Konarak, Chabahar, Jask, Sirik and Lavan, Al Jazeera, a Middle Eastern broadcaster, reported. Iran's army and the Iran Revolutionary Guards Corps promised the US would regret and face "severe punishment" for the aggression, the news report said.The front-month US West Texas Intermediate crude oil contract surged 5.6% to $90.57 per barrel, and global benchmark North Sea Brent soared 5.1% to $95.14 per barrel.Most US Treasury yields rose. The 10-year yield jumped 3.8 basis points to 4.8%, the highest since January 2025, and the two-year advanced 4.8 basis points to 4.4%.In economic news, US job openings rose to 7.271 million in July, according to the Bureau of Labor Statistics, below the 7.313 million openings expected in a survey compiled by Bloomberg, but up from the 7.182 million openings reported in June. The July level represents 4.4% of total employment, up from 4.3% in June and 4.3% a year earlier.The probability of the Federal Reserve raising its target rate by 25 basis points to 3.75%-4.0% in September surged to 66% after midday Tuesday from 40% a day ago, according to the CME FedWatch tool. The likelihood of another increase of the same magnitude in October is almost a fifth, putting into perspective a 10% chance of the rates remaining at the current level by December.

Dow JonesNasdaq CompositeS&P 500
Update: Equity Markets Fall Intraday as Oil, Yields Surge
US Markets

Update: Equity Markets Fall Intraday as Oil, Yields Surge

(Updates with latest market prices and developments.)US benchmark equity indexes were lower intraday, as surging oil prices and bond yields kept inflation-wary traders on the edge.The Nasdaq Composite was down 1% at 26,113.9 after midday Tuesday. The Dow Jones Industrial Average shed 0.8% to 52,752.6, while the S&P 500 lost 0.7% to 7,633.2. The indexes finished the previous trading session lower.Among sectors, consumer discretionary led the laggards intraday Tuesday, while energy paced the gainers.West Texas Intermediate crude oil jumped 4.4% to $89.57 a barrel, while Brent advanced 3.9% to $94.04.The US military launched fresh attacks on Iran, striking Islamic Revolutionary Guard Corps targets, the US Central Command said Tuesday in a post on social media platform X.Washington is striking "Iranian targets" near the Strait of Hormuz, US President Donald Trump said Tuesday."If the failed nation of Iran retaliates for this very justified attack, they will be hit again at a much harder and higher level," Trump said in a social media post.The latest US military actions came a day after Iran reportedly attacked US bases in Jordan and the United Arab Emirates, in retaliation for Washington striking Iranian rocket launchers on Tehran's Larak Island.US Treasury yields jumped intraday Tuesday, with the 10-year rate up 3.2 basis points at 4.79%, reaching its highest level since January 2025. The two-year yield rose 3.9 basis points to 4.39%.Government borrowing costs are surging "as rising oil prices continue to fuel inflation concerns and as investors increase expectations for firmer (Federal Reserve) policy," Stifel said in a note to clients.Markets are now pricing in a 68% probability that the US central bank will increase its benchmark lending rate by 25 basis points later this month, compared with about 40% a week ago, according to the CME FedWatch tool. The probability that the Fed will keep interest rates steady fell to 32% from 60%.The Fed should tighten monetary policy unless inflation cools down as hoped, Governor Michael Barr said Tuesday, adding to a growing chorus of hawkish views from policymakers. In his debut Jackson Hole speech as Fed chief on Friday, Kevin Warsh said that the central bank's primary focus should be on prices, given that the US is doing well on the employment front.In economic news, the US manufacturing sector continued to expand in August, with an Institute for Supply Management survey pointing to a slight deceleration sequentially and S&P Global (SPGI) data indicating a steady growth rate.In company news, Nio (NIO) posted a 69% year-over-year increase in its second-quarter revenue amid growth in vehicle deliveries, which are expected to continue rising in the ongoing quarter. The Chinese electric vehicle maker's American depositary receipts were down 4.5% intraday.Palo Alto Networks (PANW) shares fell 6.1%, among the worst performers on the S&P 500.Palo Alto is scheduled to report its latest quarterly financial results after the closing bell Tuesday, along with Dell Technologies (DELL), MongoDB (MDB) and others.Spot gold was down 2.1% at $4,344.51 per troy ounce, while silver dropped 2.4% to $65.40 per ounce.

Dow JonesNasdaq CompositeS&P 500$DELL$MDB$NIO$PANW$SPGI
Asia Markets

Update: US Equity Indexes Drop as Treasury Yields, Crude Oil Jump Amid Fresh Military Strikes on Iran

(Updates with index/price moves, macroeconomic data, and geopolitical news from the first paragraph.)US equity indexes fell amid rising crude oil prices and a surge in the benchmark government bond yield to the highest in about 18 months as Washington struck Iranian targets on Tuesday.The Nasdaq Composite fell 0.9% to 26,122.9, the S&P 500 retreated 0.7% to 7,633.1, and the Dow Jones Industrial Average slid 0.8% to 52,747.8 after midday.Consumer discretionary, industrials, materials and technology led decliners, while energy topped gainers.US forces began striking Islamic Revolutionary Guard Corps targets in Iran, the US Central Command said in a message on X, formerly Twitter. The strikes follow recent attempted attacks by the IRGC against commercial shipping in the Strait of Hormuz and against American service members deployed to the region.US Secretary of the Treasury Scott Bessent said the Iran blockade is "very powerful" and "we are going to economically asphyxiate this regime," Al Jazeera, a Middle Eastern broadcaster, reported. The US will announce new sanctions on "anyone that does business with the IRGC" while the US is "tracking down the IRGC's assets," Bessent was cited as saying.In a video message shared by Iranian news agencies, Iran's Parliament Speaker Mohammad Bagher Ghalibaf said the US's naval blockade against Iran amounts to a military act and that Tehran will respond militarily if it intensifies, according to Al Jazeera. If the US's "will is that we do not export oil" from the Gulf, Ghalibaf said, "no one will be able to export oil."Two oil supertankers attempting to exit the Strait of Hormuz were struck by projectiles late Monday, Bloomberg reported, citing maritime security consultant Marisks.The front-month US West Texas Intermediate crude oil contract advanced 4.3% to $89.52 per barrel, and global benchmark North Sea Brent climbed 3.9% to $94.04 per barrel.Most US Treasury yields rose. The 10-year yield rose three basis points to 4.79%, the highest level since January 2025, and the two-year advanced 3.5 basis points to 4.39%.Gold futures dropped 1.9% to $4,397.30, and silver futures slumped 2.4% to $65.38.In economic news, US job openings rose to 7.271 million in July, according to the Bureau of Labor Statistics, below the 7.313 million openings expected in a survey compiled by Bloomberg, but up from the 7.182 million openings reported in June. The July level represents 4.4% of total employment, up from 4.3% in June and 4.3% a year earlier.The Institute for Supply Management's US manufacturing index fell to 54.6 in August from 55.6 in July, compared with expectations for 55.2 in a survey compiled by Bloomberg. The index indicates expansion, in line with most regional manufacturing sector readings and the S&P Global index, but contrasts with the Chicago PMI reading that suggested contraction.The first look at consumer confidence for September improved from August, with the RealClearMarkets' monthly index rising to 45.6 from 45.1. The index reading was the highest since March.The probability of the Federal Reserve raising its target rate by 25 basis points to 3.75%-4.0% in September surged to 66% after midday Tuesday from 40% a day ago, according to the CME FedWatch tool. The likelihood of another increase of the same magnitude in October is almost a fifth, putting into perspective a 10% chance of the rates remaining at the current level by December.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Exchange-Traded Funds Decline as US Equities Fall After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) eased 1.1%.US equity indexes declined amid rising crude oil prices and a surge in the benchmark government bond yield to the highest in about 18 months as Iran's geopolitics deteriorated.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 0.7%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) edged down 1.5%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) were softer.The State Street SPDR S&P Semiconductor (XSD) slipped 2.7%, while iShares Semiconductor (SOXX) fell 2%.FinancialThe State Street Financial Select Sector SPDR (XLF) dipped 0.8%. Direxion Daily Financial Bull 3X Shares (FAS) declined 2.4%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 2.5%.CommoditiesCrude oil rose 4.2%, and the United States Oil Fund (USO) added 4.1%. Natural gas lost 1.1%, and the United States Natural Gas Fund (UNG) was down 1.2%.Gold on Comex slipped 1.8%, and the State Street SPDR Gold Shares (GLD) was down 2.2%. Silver fell 2.1%, and iShares Silver Trust (SLV) shed 2.2%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) added 0.5%. The Vanguard Consumer Staples ETF (VDC) gained 0.5%, and iShares Dow Jones US Consumer Goods (IYK) was up 0.6%.The State Street Consumer Discretionary Select Sector SPDR (XLY) eased 1.6%. VanEck Retail ETF (RTH) was down 0.3%, and the State Street SPDR S&P Retail (XRT) dipped 0.3%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 0.4%. iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were also higher. IShares Biotechnology ETF (IBB) added 0.3%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) fell 1.6%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also in the red.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 1.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) lost 1.7%, ProShares Ether ETF (EETH) was down 2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) gained 1.9%.

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 Retreat Amid Surging Treasury Yields, Higher Crude Oil Prices

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes declined amid rising crude oil prices and a surge in the benchmark government bond yield to the highest in about 18 months as Iran's geopolitics deteriorated.The Nasdaq Composite fell 0.8% to 26,158.1, the S&P 500 retreated 0.6% to 7,641.7, and the Dow Jones Industrial Average slid 0.7% to 52,821.3 after midday Tuesday.US Secretary of the Treasury Scott Bessent said the Iran blockade is "very powerful" and "we are going to economically asphyxiate this regime," Al Jazeera, a Middle Eastern broadcaster, reported. The US will announce new sanctions on "anyone that does business with the IRGC" while the US is "tracking down the IRGC's assets," Bessent was cited as saying.In a video message shared by Iranian news agencies, Iran's Parliament Speaker Mohammad Bagher Ghalibaf said the US's naval blockade against Iran amounts to a military act and that Tehran will respond militarily if it intensifies, according to Al Jazeera. If the US's "will is that we do not export oil" from the Gulf, Ghalibaf said, "no one will be able to export oil."The front-month US West Texas Intermediate crude oil contract advanced 3.8% to $89.05 per barrel, and global benchmark North Sea Brent climbed 3.1% to $93.28 per barrel.The probability of the Federal Reserve raising its target rate by 25 basis points to 3.75%-4.0% in September surged to 66% after midday Tuesday from 40% a day ago, according to the CME FedWatch tool. The likelihood of another increase of the same magnitude in October is almost a fifth, putting into perspective a 10% chance of the rates remaining at the current level by December.Most US Treasury yields rose. The 10-year yield rose three basis points to 4.79%, the highest level since January 2025, and the two-year advanced 3.5 basis points to 4.39%.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Tuesday as Oil Prices Advance

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) was 1% lower in Tuesday's premarket activity as oil prices advanced amid supply concerns.US stock futures were also lower, with S&P 500 Index futures down 0.6%, Dow Jones Industrial Average futures slipping 0.6%, and Nasdaq futures retreating 1.1% before the start of regular trading.Manufacturing data from S&P Global will be released at 9:45 am ET.The ISM's manufacturing reading for August, construction spending data for July, and job openings data for July are all due to be released at 10 am ET.The Dallas Fed's nonmanufacturing index for August is due to be released at 10:30 am ET.In premarket activity, bitcoin was down by 1.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1% lower, Ether ETF (EETH) retreated 1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) fell 1%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.6%, 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) was down 1.5%.Novartis (NVS) stock was up more than 4% premarket after the company said that phase 3 trials of remibrutinib showed significantly reduced annualized relapse rates compared with teriflunomide in adults with relapsing multiple sclerosis.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.01%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was flat.Tesla (TSLA) shares were down 1% after a 5.5% gain at the prior close. Reuters reported that new Tesla car registrations in Norway and Sweden were down 79% and 41%, respectively, in August.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.3% higher.Mitsubishi UFJ Financial (MUFG) shares were up 1% after the company said it began talks with BlackRock (BLK) and Morgan Stanley's (MS) investment management unit to support the development of Japan's private credit market. BlackRock stock was 1% lower, while Morgan Stanley was retreating 0.5% pre-bell.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.6%, while the Vanguard Industrials Index Fund (VIS) was down 0.5% and the iShares US Industrials ETF (IYJ) lost 0.1%.Elbit Systems (ESLT) stock was up more than 1% before the opening bell after the company said it has signed contracts worth $270 million with an international customer in the field of intelligence, surveillance, and reconnaissance and targeting payloads.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.4%, the iShares US Technology ETF (IYW) was flat, and the iShares Expanded Tech Sector ETF (IGM) was down 0.8%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 1.7% lower, while the iShares Semiconductor ETF (SOXX) fell by 2%.Salesforce (CRM) shares were down more than 1% in premarket activity following a 0.6% gain in the prior session. Bloomberg reported that the company is investing in human resources software company HiBob as part of a $160 million funding round that values the startup at more than $3.20 billion.EnergyThe iShares US Energy ETF (IYE) was up 1.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1.3%.ExxonMobil (XOM) and Chevron (CVX) shares were 1% higher after multiple media outlets reported, citing comments made by US President Donald Trump at a press event in the Oval Office, that the companies are among several major oil companies planning to pursue business in Venezuela.CommoditiesFront-month US West Texas Intermediate crude oil rose by 2.3% to $87.77 per barrel on the New York Mercantile Exchange. Natural gas was down 1.3% at $2.90 per 1 million British Thermal Units. The United States Oil Fund (USO) advanced 2.1%, while the United States Natural Gas Fund (UNG) was 1.1% lower.Gold futures for November were down by 1.2% at $4,429.30 an ounce on the Comex. Silver futures retreated 2.2% to $65.51 an ounce. SPDR Gold Shares (GLD) decreased 1.9%, and the iShares Silver Trust (SLV) was 3% lower.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BLK$CRM$CVX$EEM$EETH$ESLT$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MS$MUFG$NVS$PMR$QQQ$RTH$SLV$SOXX$SPY$TSLA$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XOM$XRT$XSD
Asia Markets

Update: US Equity Futures Fall Pre-Bell Tuesday as Global Bond Yields, Oil Prices Rise

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Tuesday as concerns about inflation and higher oil prices lifted global bond yields while technology-related stocks slipped.Dow Jones Industrial Average futures were 0.6% lower, S&P 500 futures were down 0.6%, and Nasdaq futures were 1.2% lower.The US 10-year Treasury note yield reached a 20-month high, rising 3 basis points to trade at 4.7880%, while borrowing costs in Japan and the UK attained multi-decade highs.Traders digested the latest round of earnings, with Medtronic (MDT) posting higher fiscal Q1 adjusted earnings and revenue.Palo Alto Networks (PANW) is expected to report its fiscal Q4 results after the market closes. Analysts polled by FactSet expect earnings of $0.98 per share on revenue of $3.35 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.8% at $92.65 per barrel and US West Texas Intermediate crude 2.8% higher at $88.16 per barrel.The final S&P Global manufacturing purchasing managers index for August, due at 9:45 am ET, is seen at 53.4, up from its prior value of 53.2, according to estimates compiled by Bloomberg.The August Institute for Supply Management's manufacturing index, due at 10 am ET, is projected at 55.2, down from 55.6 in the previous month. July job openings from the US Department of Labor's Job Openings and Labor Turnover Survey are expected at 7.313 million, compared with 7.359 million in the prior month. The July construction spending report is also due at 10 am ET.In other world markets, Japan's Nikkei closed 0.2% lower, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was down 0.6%, and Germany's DAX index was 1% lower in Europe's early afternoon session.In equities, stocks of Nvidia (NVDA), Amazon (AMZN), and Micron Technology (MU) were all down as part of a wider downswing in the technology sector. Nvidia shares dropped 1.5%, Amazon stock was 1.6% lower, and Micron Technology shares were down 2.3%.On the winning side, Medtronic stock was up 2.5% after the company's fiscal Q1 adjusted earnings and revenue surpassed analysts' consensus. Novartis (NVS) shares rose 5.9% after the company said that phase 3 trials of remibrutinib showed significantly reduced annualized relapse rates compared with teriflunomide in adults with relapsing multiple sclerosis. Sony Group (SONY) stock was 2% higher after a Nikkei Asia report that the company's semiconductor division will build an artificial intelligence model for facility maintenance with Saudi Aramco.

Dow JonesNasdaq CompositeS&P 500$AMZN$MDT$MU$NVDA$NVS$PANW$SONY
Japan

US Equity Futures Fall Pre-Bell Tuesday as Global Bond Yields, Oil Prices Rise

US equity futures were edging lower pre-bell Tuesday as concerns about inflation and higher oil prices lifted global bond yields while technology-related stocks slipped.Dow Jones Industrial Average futures were 0.5% lower, S&P 500 futures were down 0.5%, and Nasdaq futures were 1% lower.The US 10-year Treasury note yield reached a 20-month high, rising 3 basis points to trade at 4.7880%, while borrowing costs in Japan and the UK attained multi-decade highs.Traders digested the latest round of earnings, with Medtronic (MDT) posting higher fiscal Q1 adjusted earnings and revenue.Palo Alto Networks (PANW) is expected to report its fiscal Q4 results after the market closes. Analysts polled by FactSet expect earnings of $0.98 per share on revenue of $3.35 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4% at $91.93 per barrel and US West Texas Intermediate crude 2.2% higher at $87.64 per barrel.The final S&P Global manufacturing purchasing managers index for August, due at 9:45 am ET, is seen at 53.4, up from its prior value of 53.2, according to estimates compiled by Bloomberg.The August Institute for Supply Management's manufacturing index, due at 10 am ET, is projected at 55.2, down from 55.6 in the previous month. July job openings from the US Department of Labor's Job Openings and Labor Turnover Survey are expected at 7.313 million, compared with 7.359 million in the prior month. The July construction spending report is also due at 10 am ET.

Dow JonesNasdaq CompositeS&P 500$MDT$PANW
Stocks Down Pre-Bell as Traders Weigh Renewed US-Iran Tensions
US Markets

Stocks Down Pre-Bell as Traders Weigh Renewed US-Iran Tensions

US equity futures were tracking in the red on Tuesday as investors weigh Middle East tensions after the US and Iran recently exchanged strikes.The S&P 500 and the Dow Jones Industrial Average declined 0.5% each in premarket activity, while the Nasdaq was off 0.8%. The indexes finished the previous trading session lower.President Donald Trump reportedly told Fox News on Monday that the US will respond to Iran's attacks on its military bases in the Middle East."We're going to hit them hard," Trump reportedly said. "There will be a response."Iran reportedly attacked US bases in Jordan and the United Arab Emirates on Monday, in retaliation for Washington striking Iranian rocket launchers on Tehran's Larak Island. The US attack was the first confirmed military strike against Iran since late July and comes after Washington launched an economic campaign last week to cut off financial channels that support Tehran.Iranian President Masoud Pezeshkian reportedly said Monday that Iran is not seeking to engage in a war with the US, but will respond firmly to any acts of aggression.West Texas Intermediate crude oil rose 2.7% to $88.05 a barrel before the opening bell, while Brent increased 2.2% to $92.47.The UK Maritime Trade Operations said Monday that a tanker was reported to have been struck by three unknown projectiles while transiting the Strait of Hormuz."These developments have once again reduced the prospects of bringing the conflict to an end," Saxo Bank said in a Monday report. "However, with an estimated (6 million to 8) million barrels per day of crude flowing through the strait, the upside risk is for now being capped."Treasury yields were trending higher in premarket action, with the two-year rate gaining 1.2 basis points to 4.36% and the 10-year rate adding 3 basis points to 4.79%.Traders also await the first batch of fresh labor data this week, with the Job Openings and Labor Turnover Survey for July out at 10 am ET. The ADP Employment report, the Challenger, Gray & Christmas job cut report and the government's nonfarm payrolls data, all for August, are due later in the week.US nonfarm payrolls are projected to rebound stronger than expected in August, Oxford Economics said in a note Monday, describing labor market conditions as balanced. The brokerage expects nonfarm payrolls to have increased by 95,000 in August, compared with the Bloomberg-polled consensus of a 55,000 increase.Tuesday's economic calendar also has the final Purchasing Managers' manufacturing index for August at 9:45 am, followed by the Institute for Supply Management's manufacturing index for the same month at 10 am.Federal Reserve Governor Michael Barr is slated to speak at 9:05 am.Shares of GoPro (GPRO) surged 89% pre-bell following media reports that YouTube creator Mark Fischbach has become the company's largest single shareholder. Robinhood Markets (HOOD) inclined 1.9%.Palo Alto Networks (PANW), Dell Technologies (DELL), Credo Technology (CRDO) and MongoDB (MDB) are expected to release their latest financial results after the markets close Tuesday. Medtronic (MDT) posts earnings before the bell, among others.Gold slipped 1.3% to $4,423 per troy ounce, while bitcoin decreased 1.4% to $77,924.

Dow JonesNasdaq CompositeS&P 500$CRDO$DELL$GPRO$HOOD$MDB$MDT$NIO$PANW
Asia Markets

Oil, Interest Rate Outlooks Damp Wall Street Pre-Bell; Asia Mixed, Europe Off

Wall Street futures pointed moderately lower pre-bell Tuesday as higher interest rates and oil prices as well as fresh hostilities in the Persian Gulf undercut investor sentiments.In the futures, the S&P 500 fell 0.6%, the Nasdaq declined 1% and the Dow Jones was off 0.6%.Traders also await the Job Openings and Labor Turnover Survey (JOLTS) for July, slated for a 10 am ET release in Washington, for clues to the health of the national labor market.West Texas Intermediate crude oil futures traded up 2.3% to $87.71 a barrel in morning action.The VanEck Semiconductor fund (SMH) was down 1.5% pre-bell.Asian exchanges traded mixed overnight, as Japan's 10-year government bond yield touched 3% for the first time since 1996.European bourses tracked moderately lower midday on the continent.On the economic calendar, in addition to the JOLTs release, is the S&P Global final US purchasing managers index, or PMI, for August at 9:45 am ET, followed by the ISM Manufacturing Index for August, and the construction spending report for July, both at 10 am.In premarket action, Bitcoin traded at $77,990, and 10-year US Treasuries offered 4.78%. Spot gold commanded $4,383 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Update: US Equity Indexes Fall Amid Gains in Crude Oil, Benchmark Treasury Yield as Iran War Hostilities Resurge

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes fell as crude oil jumped amid renewed Washington-Tehran military escalation and the 10-year government bond yield rose to its highest in about a month.The Nasdaq Composite fell 0.1% to 26,370.89, the S&P 500 retreated 0.3% to 7,686.14, and the Dow Jones Industrial Average slid 0.7% to 53,185.90 on Monday. All sectors, except energy and technology, declined. Communication services led decliners, followed by utilities and industrials.President Donald Trump said the US will respond to an Iranian attack on US forces overnight in Jordan, Fox News reported. US air defenses intercepted all but one Iranian missile, which was allowed through because it was not expected to hit anything of consequence, the report said, citing the president. Iran said it attacked US bases in Jordan and US military targets at the Al Menhad airbase in the United Arab Emirates after US forces bombed two rocket launchers on Iran's Larak Island.Iran's military has reiterated a warning to the region not to allow the US military to launch attacks from their soil or risk retaliation, Al Jazeera, a Middle Eastern broadcaster, reported. "As we have demonstrated on the ground, while respecting the national sovereignty of our neighbours, we will never tolerate any form of aggression and will respond with a far heavier retaliation," Al Jazeera cited a military statement.The front-month US West Texas Intermediate crude oil contract advanced 3.1% to $85.96 per barrel, and global benchmark North Sea Brent climbed 2.7% to $90.50 per barrel in the final leg of trading.In economic news, the Dallas Fed's monthly manufacturing index jumped to 11.6 in August from 1.3 in July, above expectations for 1.6 in a survey compiled by Bloomberg, indicating a faster pace of expansion."Along with the increase in output, other measures of manufacturing activity also pointed to faster growth this month," said Jesus Caas, senior business economist at the Dallas Fed. "However, employment growth slowed slightly. Price pressures were relatively stable but remained markedly elevated while wage pressures eased."Federal Reserve Chair Kevin Warsh's speech Friday was "particularly hawkish, according to a note from Capital Wealth Planning. The next Fed policy meeting will be in mid-September, with the August inflation print due beforehand, per the note. Citing the CME's FedWatch tool, the futures market is pricing in one or two rate hikes by the year-end, potentially one in September followed by another in December.US Treasury yields were mixed ahead of the close. The 10-year yield climbed 3.4 basis points to 4.76%, the highest since July-end, while the two-year was steady at 4.35%.In company news, Tesla (TSLA) is selling a simplified version of Model 3 at a lower price in Hong Kong and Macau than in mainland China, according to media reports and the company's regional websites. Shares jumped 5.5%, the second-biggest gainer on the S&P 500 and the Nasdaq.Shares of PG&E (PCG) and Edison International (EIX) were among decliners, down 20% and 23%, respectively, after California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes, ABC7 reported Sunday. The duo was the worst performers on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$EIX$PCG$TSLA
Update: Equities Fall as US-Iran Conflict Flares Up; Wall Street Logs Gains for August
US Markets

Update: Equities Fall as US-Iran Conflict Flares Up; Wall Street Logs Gains for August

(Updates with market moves at the end of the day, and other changes, if any.)Stocks on Wall Street fell on the last trading day of August as oil prices jumped following an escalation in the US-Iran conflict, though equity benchmarks posted monthly gains.The Dow Jones Industrial Average closed Monday trading 0.7% lower at 53,185.90. The S&P 500 declined 0.3% to 7,686.14, while the Nasdaq Composite edged down 0.1% to 26,370.89. Except energy and technology, all sectors were in the red, led by communication services.For the month August, the Nasdaq climbed 3.9%, while the S&P 500 gained 2.6%, following two straight monthly losses for both indexes. The Dow added 1.3%, recording its fifth consecutive monthly rise.West Texas Intermediate crude oil was up 3.1% at $85.97 a barrel in Monday late-afternoon trade, while Brent advanced 2.7% to $90.45. Both benchmarks were on track to post their second monthly gains in a row.The US and Iran reportedly traded strikes for the first time in a month, with American forces attacking two Iranian rocket launchers on Iran's Larak Island, multiple media outlets reported. A spokesperson for US Central Command said that Tehran's Islamic Revolutionary Guard Corps was preparing to launch rockets with sea mines into the Strait of Hormuz, CNN reported.The attack is the first confirmed US military strike against Iran since late July and comes after Washington launched an economic campaign last week to cut off financial channels that support Iran.Iran said it retaliated by attacking US bases in Jordan and the United Arab Emirates, according to a CNN report."These developments have once again reduced the prospects of bringing the conflict to an end," Saxo Bank said Monday in a report. "However, with an estimated (6 million to 8) million barrels per day of crude flowing through the strait, the upside risk is for now being capped."US Treasury yields were mixed, with the two-year yield little changed at 4.35% while the 10-year yield rose 3.8 basis points to 4.76%.Fresh labor market data are scheduled to be released later this week, beginning with the Job Openings and Labor Turnover Survey for July on Tuesday, followed by August's ADP employment report on Wednesday. The Challenger, Gray & Christmas job cut and the government's nonfarm payrolls data, both for August, are due on Thursday and Friday, respectively.US nonfarm payrolls are projected to rebound stronger than expected in August, Oxford Economics said in a note Monday, describing labor market conditions as balanced. The brokerage expects nonfarm payrolls to have increased by 95,000 this month, compared with the Bloomberg-polled consensus of a 55,000 increase.The odds of a quarter-point rate hike next month rose to 66% on Monday from 57% on Friday, according to the CME FedWatch tool. The probability that the Fed will keep the benchmark rate steady fell to 34% from 43%.In company news, shares of Edison International (EIX) sank 23%, the worst performer on the S&P 500, followed by PG&E's (PCG) 20% slide. The state of California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes, ABC7 reported Sunday. Sempra (SRE) fell 3.1%.Aon (AON) has agreed to acquire insurance brokerage USI Insurance Services from KKR (KKR) and other shareholders in an all-cash deal worth roughly $17 billion. Aon shares slumped 9.5%, the third-steepest decline on the S&P 500.Nvidia (NVDA) expanded its partnership with chip designer MediaTek, including a $3.5 billion investment, to support adoption of the company's proprietary interconnect technology for custom rack-scale artificial intelligence chips. Shares of the tech bellwether rose 1.5%, the third-biggest gain on the Dow.Broadcom (AVGO), Palo Alto Networks (PANW), Dell Technologies (DELL) and Snowflake (SNOW) are among the companies expected to release their latest financial results this week.Spot gold was little changed at $4,454.05 per troy ounce, while silver lost 0.8% to $67.25 per ounce.

Dow JonesNasdaq CompositeS&P 500$AON$AVGO$DELL$EIX$NVDS$PANW$PCG$SNOW$SRE
Japan

US Equity Markets End Lower After Crude Oil, Government Bond Yields Rise Following US-Iran Military Escalation

US equity indexes ended lower Monday after crude oil prices and government bond yields rose following US-Iran military escalation.* Iran and the US traded attacks for the first time in over a month overnight into Monday, CNN reported. Iran said it attacked US bases in Jordan and US military targets at the Al Minhad airbase in the United Arab Emirates after US forces bombed two rocket launchers on Iran's Larak Island, according to a report from Al Jazeera.* The Dallas Fed's monthly manufacturing index jumped to 11.6 in August from 1.3 in July, above expectations for 1.6 in a survey compiled by Bloomberg, indicating a faster pace of expansion.* October West Texas Intermediate crude oil rose $2.58 to settle at $85.98 per barrel, while November Brent crude, the global benchmark, was last seen up $2.35 at $90.45.* Tesla (TSLA) is selling a simplified version of Model 3 at a lower price in Hong Kong and Macau than in mainland China, according to media reports and the company's regional websites. Shares were up about 5.5%, the top gainer on the S&P 500 and Nasdaq.* Shares of PG&E (PCG) and Edison International (EIX) were down over 20%, the worst performers on the S&P 500, after ABC7 reported Sunday that California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes.

Dow JonesNasdaq CompositeS&P 500$EIX$PCG$TSLA

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