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Rose with other US benchmarks as a US-Iran peace framework to reopen the Strait of Hormuz pushed crude oil prices lower.

Equity Markets Rise Intraday as Trump Sets Out Conditions For Iran Deal
US Markets

Equity Markets Rise Intraday as Trump Sets Out Conditions For Iran Deal

Equities on Wall Street rose intraday as President Donald Trump laid out conditions that Iran must agree to as part of a peace agreement.The Dow Jones Industrial Average was up 0.6% at 50,979.9 after midday Friday, while the Nasdaq Composite rose 0.3% to 26,988.6. The S&P 500 added 0.3% to 7,584.8. All three indexes logged closing highs in the previous session.Barring technology and financials, all sectors were in the red, led by consumer staples.In a social media post Friday, Trump said he was heading to the White House Situation Room "to make a final determination" regarding the Middle East conflict. He also announced an end to the naval blockade of Iranian ports.Trump said that Iran must permanently forgo capabilities that lead to nuclear weapon development and allow unrestricted shipping traffic through the Strait of Hormuz.Axios reported Thursday that the US and Iran had agreed to a memorandum of understanding to extend a ceasefire between the countries and begin talks on Tehran's nuclear program. However, Trump hadn't signed off on the deal, according to the report.West Texas Intermediate crude oil was down 2.5% at $86.70 a barrel intraday, while Brent fell 2% to $91.81."While significant hurdles remain, the market is reacting to the prospect of a supply surge once hundreds of tankers loaded with crude oil and refined fuels are released from the Persian Gulf," Saxo Bank said in report Friday. "In the months ahead, however, demand to replenish depleted global inventories is likely to provide support, potentially lifting the price floor compared with pre-war levels."US Treasury yields were mixed intraday, with the 10-year rate little changed at 4.44% and the two-year rate falling 2.7 basis points to 4%.A sharp jump in Treasury yields following the Middle East conflict is unlikely to dampen investor appetite for equities, given corporate earnings growth and excitement surrounding artificial intelligence, Wells Fargo Investment Institute said in a note.In company news, Dell Technologies (DELL) shares were up nearly 29% intraday, the best performer on the S&P 500. Late Thursday, the company reported record fiscal first-quarter results that surpassed Wall Street's estimates amid a surge in demand for artificial intelligence-optimized servers. It raised its fiscal 2027 outlook.NetApp (NTAP) surged 26% after announcing its quarterly results, the second-biggest gainer on the S&P 500.Other tech names were also notable gainers intraday, including Salesforce (CRM), which advanced 9%, IBM (IBM) and Microsoft (MSFT).Sentinelone (S) shares were down 6.3% intraday. The cybersecurity company delivered a solid first-quarter performance that appears to be sustainable amid strong underlying trends, BofA Securities said in a Friday client note.The brokerage attributed the sell-off to the company's "conservative" guidance that raises questions around growth durability. But BofA views the pullback as an attractive entry point for investors, citing underlying momentum.Gold was up 1.6% at $4,602.50 per troy ounce, while silver edged up 0.1% to $76 per ounce.

Dow JonesNasdaq CompositeS&P 500$CRM$DELL$IBM$MSFT$NTAP$S
Asia Markets

Exchange-Traded Funds Mixed, US Equities Advance After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM declined, while IVV gained. Actively traded Invesco QQQ Trust (QQQ) rose 0.5%.US equity indexes were higher after midday Friday amid a surge in technology names, and as President Donald Trump appeared close to announcing his decision on a preliminary Iran peace agreement.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each lost about 1.1%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was 2.1% higher; iShares US Technology ETF (IYW) rose 1.4%, and iShares Expanded Tech Sector ETF (IGM) was up 1.6%.The State Street SPDR S&P Semiconductor (XSD) dropped 2.8%, and iShares Semiconductor (SOXX) edged up 0.1%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 0.8%. Direxion Daily Financial Bull 3X Shares (FAS) climbed up 2.4%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 2.4%.CommoditiesCrude oil fell 2.8%, and the United States Oil Fund (USO) slipped 2.9%. Natural gas climbed up 1.5%, and the United States Natural Gas Fund (UNG) was up 1.6%.Gold on Comex added 1.6%, and the State Street SPDR Gold Shares (GLD) rose 1.5%. Silver gained 0.4%, and iShares Silver Trust (SLV) was up 0.2%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) lost 1.5%. The Vanguard Consumer Staples ETF (VDC) fell 1.7%, and iShares Dow Jones US Consumer Goods (IYK) was up 1.1%.The State Street Consumer Discretionary Select Sector SPDR (XLY) dipped 0.6%. VanEck Retail ETF (RTH) slipped 1.4%, and the State Street SPDR S&P Retail (XRT) fell 1.8%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) shed 0.9%, iShares US Healthcare (IYH) fell 0.8%, and Vanguard Health Care ETF (VHT) was down 0.7%. IShares Biotechnology ETF (IBB) rose 0.3%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) lost 0.1%. Vanguard Industrials Index Fund (VIS) fell 0.2%, while iShares US Industrials (IYJ) rose 0.1%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) rose 0.9%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) added 0.7%, ProShares Ether ETF (EETH) gained 1.2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.7% higher.

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

US Equity Indexes Scale New Peaks Amid Tech Gains as Trump Close to Making Decision on Iran Peace Deal

US equity indexes rose amid a surge in technology names and as President Donald Trump appeared close to announcing his decision on a preliminary Iran peace agreement.The Nasdaq Composite climbed 0.4% to 27,031.2, with the S&P 500 up 0.4% to 7,593.9, and the Dow Jones Industrial Average higher by 0.8% to 51,077.9 after midday on Friday.Materials and financials were the only other sectors in positive territory intraday. Consumer staples, communication services, and energy led the decliners.Dell Technologies (DELL) shares catapulted 28%, the top gainer on the S&P 500, after the company reported overnight fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.President Donald Trump is making a "final determination" on a preliminary deal to extend a ceasefire with Iran after mixed messages from both sides over when an agreement might be struck, he said on Friday, according to a report from Bloomberg."I will be meeting now, in the Situation Room, to make a final determination," Trump said in a social media post.Iranian officials have used the talks to project confidence that they retain significant military options should diplomacy fail, CNN reported Friday. Any renewed conflict would spread "far beyond the region," threatening "crushing blows" and "utter ruin" in places opponents "cannot even imagine," the Iranian Revolutionary Guards were cited as saying.Brent crude futures fell 1.7% to $92.05, and West Texas Intermediate crude oil futures declined 1.1% to $87.80.In precious metals, gold futures jumped 1.3% to $4,592.8, while silver futures slipped by less than 0.1% to $75.85.Most US Treasury yields fell, with the 10-year down 2.1 basis points to 4.43%. The two-year declined 3.5 basis points to 3.99%.In economic news, the Institute for Supply Management's Chicago PMI reading jumped to 62.7 in May from 49.2 in April, larger than the expected 50.3 reading in a survey compiled by Bloomberg and the highest reading in over four years.Federal Reserve Vice Chair for Supervision Michelle Bowman said Friday that she is seeking greater clarity on the Middle East conflict before determining the monetary policy path forward."Economic research suggests that, in response to temporary adverse energy supply shocks, policy should not be overly aggressive at stabilizing total inflation to keep employment close to our maximum-employment goal," Bowman said at the Reykjavik Economic Conference.Further in company news, Costco Wholesale (COST) posted higher fiscal Q3 earnings and revenue late Thursday. The company's net new warehouse openings in fiscal 2026 are, however, set to be below its previous guidance, according to an earnings conference call following the results. Its shares dropped 4.7%, among the worst performers on the Nasdaq.The Dow's leader was IBM (IBM), with shares soaring 9.5%, after the company said in a filing that it plans to invest more than $10 billion over the next five years to support quantum computing development.

Dow JonesNasdaq CompositeS&P 500$COST$DELL$IBM
Japan

S&P 500, Nasdaq, Dow Jones Touch Record Highs as Trump Close to Making Decision on Iran Peace Deal

US equity indexes rose, with all three mainstream gauges hitting intraday record highs amid a surge in technology names and as President Donald Trump appeared close to announcing his decision on a preliminary Iran peace agreement.The Nasdaq Composite climbed 0.2% to 26,965.4, with the S&P 500 up 0.2% to 7,581.2, and the Dow Jones Industrial Average higher by 0.8% to 51,050.7 at midday on Friday.Dell Technologies (DELL) shares jumped past 28%, the top gainer on the S&P 500, after the company reported overnight fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.President Donald Trump is making a "final determination" on a preliminary deal to extend a ceasefire with Iran after mixed messages from both sides over when an agreement might be struck, he said on Friday, according to a report from Bloomberg."I will be meeting now, in the Situation Room, to make a final determination," Trump said in a social media post.Brent crude futures fell 1.9% to $91.86, and West Texas Intermediate crude oil futures declined 1.2% to $87.68.

Dow JonesNasdaq CompositeS&P 500$DELL
Commodities

Exchange-Traded Funds, Equity Futures Rise Pre-Bell Friday Amid US-Iran Deal Hopes

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% higher in Friday's premarket activity amid hopes of a possible US-Iran shipping and ceasefire agreement.US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 0.1% before the start of regular trading.The US advance international trade in goods deficit narrowed to $82.40 billion in April from $85.27 billion in March, according to data released by the US Census Bureau. In the same report, wholesale inventories rose by 0.5% in April after a 1.5% increase in March. Analysts polled by Bloomberg expected wholesale inventories to increase by 0.8%.Chicago PMI data for May will be released at 9:45 am ET.Federal Reserve Vice Chair for Supervision Michelle Bowman is slated to speak on Friday.In premarket activity, bitcoin was down by 1.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.6% higher, Ether ETF (EETH) advanced 2.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 0.9%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1.1%, and the iShares US Technology ETF (IYW) was 1.4% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.8%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.9%, while the iShares Semiconductor ETF (SOXX) rose by 0.6%.Dell (DELL) shares were 34% higher in premarket activity after the company reported fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and fiscal 2027.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.02%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat. 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) gained 0.1%, while the State Street SPDR S&P Retail ETF (XRT) declined by 1.6%.Chagee (CHA) shares were up more than 12% pre-bell after the company reported higher Q1 revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.1%, the Vanguard Health Care Index Fund (VHT) advanced by 0.02%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) gained by 0.3%.Agios Pharmaceuticals (AGIO) stock was down more than 5% premarket after the company said it will discontinue development of tebapivat for lower-risk myelodysplastic syndromes following a phase 2b study that failed to meet the company's threshold for further advancement.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced by 0.1%, while the Vanguard Industrials Index Fund (VIS) rose 0.6% and the iShares US Industrials ETF (IYJ) was 0.2% higher.Firefly Aerospace (FLY) shares were more than 5% lower before market open after the company said late Thursday it priced a public offering of 4 million shares, alongside 8 million shares being offered by certain selling stockholders, at $48 per share.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.3%.Solv Energy (MWH) stock was down more than 1% before the opening bell after the company priced an upsized public offering of 15 million Class A common shares at $36 apiece.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.Blackstone (BX) shares were edging 0.2% higher pre-bell after closing the previous session with a 106% decline. Bloomberg reported that the company is in talks to sell its 45% stake in Leica Camera to Asian investment firm HSG.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 1.3% to $87.76 per barrel on the New York Mercantile Exchange. Natural gas was up 5% at $3.04 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 2%, while the United States Natural Gas Fund (UNG) was 1.8% higher.Gold futures for July advanced by 0.6% to $4,561.10 an ounce on the Comex. Silver futures declined by 0.2% to $75.78 an ounce. SPDR Gold Shares (GLD) was up by 0.6%, and the iShares Silver Trust (SLV) fell by 0.2%.

Dow JonesNasdaq CompositeS&P 500$AGIO$BETH$BITO$BX$CHA$DELL$EEM$EETH$EXI$FAS$FAZ$FLY$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MWH$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

Tentative US-Iran Ceasefire Extension Agreement Nudges US Equity Futures Higher Pre-Bell

US equity futures edged higher pre-bell Friday as traders monitored developments on the peace negotiations between US and Iran, with the two countries reportedly agreeing on a memorandum of understanding to extend the ceasefire by 60 days.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were flat.The memorandum still has to be approved by President Donald Trump, and Iran has not yet given a response to the latest version. Vice President JD Vance said the talks are making progress but still ongoing, while Treasury Secretary Scott Bessent confirmed that the negotiation teams have been "going back and forth."Iran reportedly fired missiles at unidentified targets on Thursday while the Pentagon said Iran had launched a ballistic missile towards Kuwait and deployed attack drones in the Strait of Hormuz.Traders also digested the latest round of earnings, with Costco Wholesale (COST) posting higher fiscal Q3 earnings and revenue late Thursday.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.7% at $91.14 per barrel and US West Texas Intermediate crude 1.5% lower at $87.58 per barrel.The US advance international trade in goods deficit narrowed to $82.40 billion in April from $85.27 billion in March, according to data released by the US Census Bureau.The Chicago purchasing managers index for May, due at 9:45 am ET, is seen coming in at 50.3, up from its prior value of 49.2.Federal Reserve Vice Chair Michelle Bowman, Philadelphia Fed President Anna Paulson, and San Francisco Fed President Mary Daly are slated to speak on Friday.In other world markets, Japan's Nikkei closed 2.5% higher, Hong Kong's Hang Seng ended 0.7% higher, and China's Shanghai Composite finished 0.7% lower. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was flat in Europe's early afternoon session.In equities, Dell Technologies (DELL) shares were up 33% after the company reported higher fiscal Q1 non-GAAP net income and revenue that surpassed analysts' consensus. IBM (IBM) stock was 4.4% higher after the company said in a filing that it plans to invest more than $10 billion over the next five years to support quantum computing development. CoreWeave (CRWV) shares rose 1.4% after the company said it launched new agentic artificial intelligence capabilities designed to connect AI model training and inference in a continuous feedback loop to improve performance over time.On the losing side, Autodesk (ADSK) shares were down 6.6% after multiple analyst price target cuts, including those by RBC and BMO Capital. JD.com (JD) stock was 1.1% lower after the European Commission said it launched an in-depth investigation over the company's proposed acquisition of Ceconomy due to concerns that foreign subsidies may have distorted the deal process.

Dow JonesNasdaq CompositeS&P 500$ADSK$COST$CRWV$DELL$IBM$JD
Japan

Tentative US-Iran Ceasefire Extension Agreement Nudges US Equity Futures Higher Pre-Bell

US equity futures edged higher pre-bell Friday as traders monitored developments on the peace negotiations between US and Iran as the two countries reportedly agreed on a memorandum of understanding to extend the ceasefire by 60 days.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were flat.The memorandum still has to be approved by President Donald Trump, and Iran has not yet given a response to the latest version. Vice President JD Vance said the talks are making progress but still ongoing, while Treasury Secretary Scott Bessent confirmed that the negotiation teams have been "going back and forth."Iran reportedly fired missiles at unidentified targets on Thursday while the Pentagon said Iran had launched a ballistic missile towards Kuwait and deployed attack drones in the Strait of Hormuz.Traders also digested the latest round of earnings, with Costco Wholesale (COST) posting higher fiscal Q3 earnings and revenue late Thursday.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.6% at $91.19 per barrel and US West Texas Intermediate crude 1.5% lower at $87.58 per barrel.The international trade in goods report for April, scheduled for release at 8:30 am ET, is expected to show the deficit narrowing to $87 billion from the revised value of $87.40 billion in the prior month, according to estimates compiled by Bloomberg.The Chicago purchasing managers index for May, due at 9:45 am ET, is seen coming in at 50.3, up from its prior value of 49.2.Federal Reserve Vice Chair Michelle Bowman, Philadelphia Fed President Anna Paulson, and San Francisco Fed President Mary Daly are slated to speak on Friday.

Dow JonesNasdaq CompositeS&P 500$COST
International

Middle East, Tech Outlooks Support Wall Street Pre-Bell; Asia, Europe Up

Wall Street futures pointed modestly higher pre-bell Friday following media reports that Tehran and Washington have tentatively agreed on a 60-day ceasefire, and a graduated re-opening of the Strait of Hormuz.In the futures, the S&P 500 rose 0.1%, the Nasdaq inclined 0.1% and the Dow Jones was up 0.2%.West Texas Intermediate crude oil traded down 1.8% at $87.31.Asian exchanges traded mostly higher overnight, with fresh zeniths set in Seoul, Taiwan and Tokyo on AI-sector optimism, while European bourses tracked moderately north midday on the continent.Dell Technologies (DELL) traded up 36.6% pre-bell after the computer-maker reported fiscal Q1 results above consensus, and issued upbeat guidance for fiscal Q2 and the full year, late Thursday.On the economic calendar is the international trade in goods bulletin for April, and the retail and wholesale inventories bulletins for April, at 8:30 am ET.The Chicago purchasing managers index (PMI) for May logs at 9:45.The weekly Baker Hughes oil-and-gas rig count posts at 1 pm.Federal Reserve Vice Chair Michelle Bowman, Philadelphia President Anna Paulson, and San Francisco President Mary Daly are slated to speak on Friday.In pre-market action, bitcoin traded at $73,524, and 10-year US Treasuries offered 4.45%. Spot gold commanded $4,534 an ounce.

Dow JonesNasdaq CompositeS&P 500
Equity Futures Rise Amid US-Iran Deal Optimism
US Markets

Equity Futures Rise Amid US-Iran Deal Optimism

US equity markets were pointing higher before the opening bell Friday, while oil prices fell as traders parsed reports that Washington and Iran have reached a tentative deal to extend their ceasefire and carry out further talks on Tehran's nuclear program.The S&P 500, the Dow Jones Industrial Average, and the Nasdaq were up 0.1% each in premarket activity. The benchmarks extended their record advance at the close of the previous session.The US and Iran have agreed to a memorandum of understanding to extend a ceasefire between the countries and begin talks on Tehran's nuclear program, Axios reported Thursday, citing sources. However, US President Donald Trump is yet to sign off on the deal, according to the report.Iran's semi-official Tasnim news agency said in a post on social media platform X that the text of the possible MOU between the two countries has not yet been finalized, Bloomberg News reported Friday.Iranian armed forces fired missiles at unidentified targets late Thursday, CNBC reported, citing state media outlet Fars. The reported strikes come after Tehran fired a ballistic missile toward Kuwait overnight, which was intercepted by Kuwaiti forces, US Central Command said on X.West Texas Intermediate crude oil was down 1.4% at $87.67 a barrel before the open, while Brent decreased 1.3% to $92.45."While significant hurdles remain, the market is reacting to the prospect of a supply surge once hundreds of tankers loaded with crude oil and refined fuels are released from the Persian Gulf," Saxo Bank said in a report published Friday. "In the months ahead, however, demand to replenish depleted global inventories is likely to provide support, potentially lifting the price floor compared with pre-war levels."On Thursday, government data showed that annual inflation hit the highest reading in almost three years in April, even as consumer spending moderated in the face of high gasoline prices in the US. The world's largest economy expanded at a slower rate in the first quarter than previously estimated as consumer spending growth decelerated, according to the Bureau of Economic Analysis' second estimate."The downward revisions to consumer spending in (the first quarter) and the slowdown in April point to a consumer coming under stress, but not one that is about to buckle," Oxford Economics said in a note.US Treasury yields were down in premarket action, with the 10- and two-year rates retreating one basis point each to 4.45% and 4.02%, respectively.Friday's economic calendar has the international trade in goods data, as well as the retail and wholesale inventories reports at 8:30 am ET, followed by the Chicago purchasing managers' index for May at 9:45 am. The weekly Baker Hughes oil-and-gas rig count is out at 1 pm.Federal Reserve Vice Chair for Supervision Michelle Bowman is scheduled to speak at 9:10 am, while Philadelphia Fed President Anna Paulson speaks at 9:15 am. San Francisco Fed President Mary Daly's remarks are due at 12:40 pm.Dell Technologies' (DELL) shares soared 38% pre-bell after the computer and laptop maker overnight reported record fiscal first-quarter results that surpassed Wall Street's estimates amid a surge in demand for artificial intelligence-optimized servers. Oracle (ORCL) advanced 3.7% in premarket activity following a 6.7% jump at Thursday's close.Gold moved 0.6% higher to $4,561 per troy ounce, while bitcoin edged up 0.4% to $73,660.

Dow JonesNasdaq CompositeS&P 500$DELL$ORCL
Asia Markets

US Equity Indexes Rise as Iran Peace Deal Reportedly Awaits Trump's Signature, Core Inflation Eases Unexpectedly

US equity indexes rose as a deal to end the war against Iran was said to be awaiting President Donald Trump's signature and as the Federal Reserve's preferred inflation gauge unexpectedly eased in April.The Nasdaq Composite climbed 0.9% to 26,917.47, the S&P 500 advanced 0.6% to 7,563.63, and the Dow Jones Industrial Average edged up by less than 0.1% to 50,668.97 at the close on Thursday.A tentative agreement has been reached between the US and Iran to open the Strait of Hormuz and start nuclear talks, according to US officials, CNN reported, adding that Trump has not signed off on it yet. Negotiators for the US and Iran agreed on a 60-day memorandum of understanding to extend the ceasefire, Axios reported, citing two US officials.Meanwhile, US Central Command confirmed that Iran fired a ballistic missile toward Kuwait overnight, which was intercepted, CNN reported. Iran's Islamic Revolutionary Guard Corps earlier said it launched an attack targeting an American air base, claiming it was the source of US strikes, according to the news report.Brent crude futures slipped 0.4% to $93.94. West Texas Intermediate crude oil futures rose 0.5% to $89.15.In precious metals, gold futures jumped 1% to $4,528.2, and silver futures climbed 1.3% to $75.90.The personal consumption expenditures, or PCE, price index slowed to 0.4% month-over-month from 0.7% in March, Bureau of Economic Analysis data showed. The Street expected 0.5% in a Bloomberg-compiled poll. The core PCE price index, which excludes the more volatile food and energy and is the Fed's preferred inflation gauge, grew by 0.2% versus March's 0.3%, also the consensus for April.Annually, the PCE index jumped 3.8% in April, the largest increase since May 2023, up from 3.5% in March but in line with market expectations. Core PCE climbed to 3.3%, as expected, from 3.2% in March.Most US Treasury yields fell, with the 10-year down 2.8 basis points to 4.45%. The two-year declined one basis point to 4.02%.US economic growth, as measured by gross domestic product, rose by 1.6% in Q1, revised lower from a 2.0% increase in the advance estimate. No revision was expected in a survey compiled by Bloomberg. GDP rose by 0.5% in Q4.New orders for US durable goods rose by 7.9% in April following a 1.3% increase in March, beating the 4.0% gain forecast in a survey compiled by Bloomberg. Excluding a 21.5% surge in transportation orders, new orders would have been up 1.1% in April after a 1.1% increase in March. Expectations were for a 0.5% gain.In company news, Dollar Tree (DLTR) shares soared 18%, the biggest gainer on the S&P 500, after the company posted higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 adjusted EPS guidance.The worst performer on the S&P 500 and the Nasdaq was Synopsys (SNPS), down 8.6%, after the company reported a decline in fiscal Q2 non-GAAP earnings.

Dow JonesNasdaq CompositeS&P 500$DLTR$SNPS
US Equities Extend Record Run Following Iran Deal Report
US Markets

US Equities Extend Record Run Following Iran Deal Report

Wall Street's equity benchmarks extended their record advance following a report that the US and Iran have reached a tentative peace agreement, while traders parsed fresh macro data.The Nasdaq Composite rose 0.9% to 26,917.5, while the S&P 500 added 0.6% to 7,563.6, both closing at record highs for a third day in a row. The Dow Jones Industrial Average edged up 0.1% to 50,669, notching back-to-back record finish.Six of the 11 sectors ended in the red, led by utilities, while healthcare paced the gainers.The US and Iran have agreed to a memorandum of understanding to extend a ceasefire between the countries and begin talks on Tehran's nuclear program, Axios reported, citing sources. However, US President Donald Trump is yet to sign off on the deal, according to the report.Iran fired a ballistic missile toward Kuwait overnight, which was intercepted by Kuwaiti forces, US Central Command said on X.West Texas Intermediate crude oil was up 0.7% at $89.31 in Thursday late-afternoon trade, while Brent fell 0.3% to $94.03.In economic news, annual inflation hit the highest reading in almost three years in April even as consumer spending moderated in the face of high gasoline prices in the US, official data showed.Personal consumption expenditures data underscore the Federal Open Market Committee's "concern of elevated cost pressures permeating throughout the economy," Stifel Chief Economist Lindsey Piegza said in a report e-mailed to.The US economy expanded at a slower rate in the first quarter than previously estimated as consumer spending growth decelerated, the Bureau of Economic Analysis' second estimate showed"The downward revisions to consumer spending in (the first quarter) and the slowdown in April point to a consumer coming under stress, but not one that is about to buckle," Michael Pearce, chief US economist at Oxford Economics, said in remarks e-mailed to.Federal Reserve officials flagged the possibility of higher interest rates if the Middle East conflict dragged on and kept inflation above the 2% goal, according to minutes from the central bank's April meeting released last week.Markets widely expect the FOMC to keep interest rates unchanged at its next policy meeting in June, according to the CME FedWatch tool.Although artificial intelligence has the potential to be a "transformative technology," the risks of a miscalculation regarding its impact on inflation and productivity are "too great," St. Louis Federal Reserve President Alberto Musalem said."If the evidence becomes clear that higher productivity growth is likely to ease inflation pressures, I'm prepared to adjust my policy views," Musalem said. "However, at present, I believe we should keep our guard up against persistent above-target inflation today, rather than base monetary policy on the hope that we will have higher productivity growth tomorrow."US Treasury yields were lower, with the 10-year rate down 3.2 basis points at 4.46% and the two-year rate falling close to one basis point to 4.03%.In company news, Dollar Tree (DLTR) shares jumped nearly 18%, the best performer on the S&P 500, as the discount retailer raised its full-year earnings outlook after posting fiscal first-quarter results above Wall Street's estimates.Snowflake (SNOW) shares surged 36%. Late Wednesday, the cloud-based data platform raised its full-year product revenue outlook on the back of better-than-expected fiscal first-quarter results. The company agreed to a $6 billion infrastructure spending deal with Amazon's (AMZN) cloud platform.Burlington Stores (BURL) increased its full-year outlook Thursday, while the off-price retailer's guidance for the ongoing quarter indicated a sequential slowdown in comparable sales growth. The company's shares slumped 7.9%.Gold was last up 1.9% at $4,530.70 per troy ounce, while silver advanced 1.3% to $75.87 per ounce.

Dow JonesNasdaq CompositeS&P 500$BURL$DLTR$SNOW
Japan

US Equity Markets Close Higher on Optimism Over Pending US-Iran Deal

US equity indexes closed higher Thursday amid speculation a US-Iran agreement was in the final approval stages.* Negotiators for the US and Iran reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and begin talks on Iran's nuclear program, though President Donald Trump has not yet given final approval, Axios reported, citing two US officials.* The personal consumption expenditures price index slowed to 0.4% in April from 0.7% in March, Bureau of Economic Analysis data showed. Annually, the gauge rose 3.8%, the largest increase since May 2023, up from 3.5% in March and in line with market expectations.* US economic growth, as measured by gross domestic product, rose by 1.6% in Q1, revised down from a 2% increase in the advance estimate. No revision was expected in a survey compiled by Bloomberg.* July West Texas Intermediate crude oil rose $0.68 to settle at $89.36 per barrel, while July Brent crude, the global benchmark, was last seen down $0.21 at $94.08.* Dollar Tree (DLTR) shares jumped 18%, the top gainer on the S&P 500, after the discount retailer raised its full-year earnings outlook following better-than-expected fiscal first-quarter results.* Synopsys (SNPS) shares fell 8.6%, the biggest drop on the S&P, a day after the company reported a decline in fiscal Q2 non-GAAP earnings.

Dow JonesNasdaq CompositeS&P 500$DLTR$SNPS
Japan

US Equity Indexes Rise Amid Reports Iran Peace Deal Awaiting Trump's Sign-Off

US equity indexes rose amid speculation that an agreement to end the war against Iran is awaiting President Donald Trump's signature and as core inflation unexpectedly eased in April.The Nasdaq Composite climbed 0.9% to 26,919.9, the S&P 500 advanced 0.6% to 7,567.3, and the Dow Jones Industrial Average edged up by less than 0.1% to 50,660.8 ahead of the close on Thursday.A tentative agreement has been reached between the US and Iran to open the Strait of Hormuz and start nuclear talks, according to US officials, CNN reported, adding that President Donald Trump has not signed off on it yet.Brent crude futures slipped 0.4% to $93.94. West Texas Intermediate crude oil futures rose 0.6% to $89.25.The personal consumption expenditures, or PCE, price index slowed to 0.4% month-over-month from 0.7% in March, Bureau of Economic Analysis data showed. The Street expected 0.5% in a Bloomberg-compiled poll. The core PCE price index, which excludes the more volatile food and energy and is the Fed's preferred inflation gauge, grew by 0.2% versus March's 0.3%, also the consensus for April.Annually, the PCE index jumped 3.8% in April, the largest increase since May 2023, up from 3.5% in March but in line with market expectations. Core PCE climbed to 3.3%, as expected, from 3.2% in March.

Dow JonesNasdaq CompositeS&P 500
Equity Markets Rise Intraday Amid US-Iran Deal Report
US Markets

Equity Markets Rise Intraday Amid US-Iran Deal Report

US benchmark equity indexes were higher intraday as traders parsed a report that Washington and Iran have reached a tentative peace agreement.The Nasdaq Composite was up 0.7% at 26,862 after midday Thursday, while the S&P 500 rose 0.5% to 7,560.5. The Dow Jones Industrial Average advanced 0.1% to 50,693.5. The indexes closed at new all-time highs in the previous session.Among sectors, healthcare and technology paced the gainers intraday Thursday, while financials saw the biggest decrease.The US and Iran have agreed to a 60-day memorandum of understanding to extend the ceasefire and begin talks on Tehran's nuclear program, Axios reported, citing sources. However, US President Donald Trump has yet to sign off on the deal, according to the report.Iran fired a ballistic missile toward Kuwait overnight, which was intercepted by Kuwaiti forces, US Central Command said on X.West Texas Intermediate crude oil was up 0.1% at $88.75 a barrel intraday, while Brent fell 0.7% to $93.60.In economic news, annual inflation hit the highest reading in almost three years in April even as consumer spending moderated in the face of high gasoline prices in the US, official data showed."If elevated inflation continues, we can expect slower trend real consumer spending ahead," BMO said in a note.Although artificial intelligence has the potential to be a "transformative technology," the risks of a miscalculation regarding its impact on inflation and productivity are "too great," St. Louis Federal Reserve President Alberto Musalem said."If the evidence becomes clear that higher productivity growth is likely to ease inflation pressures, I'm prepared to adjust my policy views," Musalem said. "However, at present, I believe we should keep our guard up against persistent above-target inflation today, rather than base monetary policy on the hope that we will have higher productivity growth tomorrow."US Treasury yields were lower intraday, with the 10-year rate down 3.2 basis points at 4.45% and the two-year rate falling 1.9 basis points to 4.01%.In company news, Dollar Tree (DLTR) shares jumped nearly 18%, the second-top gainer on the S&P 500, as the discount retailer raised its full-year earnings outlook after posting fiscal first-quarter results above Wall Street's estimates.Snowflake (SNOW) shares surged 37%. Late Wednesday, the cloud-based data platform raised its full-year product revenue outlook on the back of better-than-expected fiscal first-quarter results. The company agreed to a $6 billion infrastructure spending deal with Amazon's (AMZN) cloud platform.Burlington Stores (BURL) increased its full-year outlook Thursday, while the off-price retailer's guidance for the ongoing quarter indicated a sequential slowdown in comparable sales growth. The company's shares were down 8.3% intraday.Dell Technologies (DELL), Costco Wholesale (COST), and MongoDB (MDB) are scheduled to report financials after the closing bell Thursday, along with others.Gold was up 1.3% at $4,538.60 per troy ounce, while silver advanced 1.6% $76.08 per ounce.

Dow JonesNasdaq CompositeS&P 500$BURL$COST$DELL$DLTR$MDB$SNOW
Asia Markets

Exchange-Traded Funds Rise as US Equities Advance After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV edged higher. Actively traded Invesco QQQ Trust (QQQ) rose 0.9%.US equity indexes rose after midday Thursday amid media speculation of a peace deal with Iran to end the war and as the Federal Reserve's preferred inflation rate eased sequentially.EnergyIShares US Energy ETF (IYE) rose 0.3%, and the State Street Energy Select Sector SPDR (XLE) added 0.1%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was 1.7% higher; iShares US Technology ETF (IYW) rose 1.5%, and iShares Expanded Tech Sector ETF (IGM) was up 1.6%.The State Street SPDR S&P Semiconductor (XSD) advanced 2.1%, and iShares Semiconductor (SOXX) gained 2%.FinancialThe State Street Financial Select Sector SPDR (XLF) fell 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) declined 1.4%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), climbed 1.3%.CommoditiesCrude oil fell 0.5%, and the United States Oil Fund (USO) slipped 0.7%. Natural gas climbed 5.5%, and the United States Natural Gas Fund (UNG) was up 5.9%.Gold on Comex added 2%, and the State Street SPDR Gold Shares (GLD) rose 1.3%. Silver added 1.3%, and iShares Silver Trust (SLV) was up 1.4%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) lost 0.1%. The Vanguard Consumer Staples ETF (VDC) fell 0.2%, and iShares Dow Jones US Consumer Goods (IYK) was down 0.5%.The State Street Consumer Discretionary Select Sector SPDR (XLY) rose fractionally. VanEck Retail ETF (RTH) slipped 0.1%, and the State Street SPDR S&P Retail (XRT) climbed 2%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 1.2%, iShares US Healthcare (IYH) added 1.3%, and Vanguard Health Care ETF (VHT) was up 1.3%. IShares Biotechnology ETF (IBB) gained 1%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) rose 0.1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were marginally higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 1.8%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) dipped 1.9%, ProShares Ether ETF (EETH) lost 2.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 2.2% 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
Asia Markets

US Equity Indexes Rise Amid Rumors of Iran Peace Deal, Surprise Easing in Fed's Preferred Inflation Measure

US equity indexes rose amid speculation of an agreement over a path to end the war against Iran and as the Federal Reserve's preferred inflation rate unexpectedly eased in April.The Nasdaq Composite climbed 0.8% to 26,880.1, the S&P 500 advanced 0.6% to 7,562.2, and the Dow Jones Industrial Average edged up by less than 0.1% to 50,678.5 after midday on Thursday.Healthcare and technology led the gainers intraday. Financials, utilities, and consumer staples were among the decliners.Negotiators for the US and Iran reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and begin talks on Iran's nuclear program, but President Donald Trump has not yet given final approval, Axios reported Thursday, citing two US officials. The White House didn't immediately reply to a request for comment.Brent crude futures fell 0.6% to $93.70. West Texas Intermediate crude oil futures rose 0.2% to $88.86, off session highs of more than 1% gain.In precious metals, gold futures jumped 1.1% to $4,532.3, and silver futures climbed 1.4% to $75.91.Most US Treasury yields fell, with the 10-year down 2.8 basis points to 4.46%. The two-year declined 1.5 basis points to 4.02%.On a month-on-month basis, the personal consumption expenditures, or PCE, price index slowed to 0.4% from 0.7% in March, Bureau of Economic Analysis data showed Thursday. The Street expected 0.5% in a Bloomberg-compiled poll. The core PCE price index, which excludes the more volatile food and energy and is the Fed's preferred inflation gauge, grew by 0.2% versus March's 0.3%, also the consensus for April.Annually, the PCE index jumped 3.8% in April, the largest increase since May 2023, up from 3.5% in March but in line with market expectations. Core PCE climbed to 3.3%, as expected, from the 3.2% in March.US economic growth, as measured by gross domestic product, rose by 1.6% in Q1, revised lower from a 2.0% increase in the advance estimate. No revision was expected in a survey compiled by Bloomberg. GDP rose by 0.5% in Q4.New orders for US durable goods rose by 7.9% in April following a 1.3% increase in March, beating the 4.0% gain forecast in a survey compiled by Bloomberg. Excluding a 21.5% surge in transportation orders, new orders would have been up 1.1% in April after a 1.1% increase in March. Expectations were for a 0.5% gain.In company news, Dollar Tree (DLTR) shares soared 18%, the second-biggest gainer on the S&P 500, after the company posted higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 adjusted EPS guidance.The worst performer on the S&P 500 and the Nasdaq was Synopsys (SNPS), down 8.4%, after the company reported a decline in fiscal Q2 non-GAAP earnings.Best Buy (BBY) shares catapulted 18%, the top performer on the S&P 500, after the firm reported higher-than-expected fiscal Q1 adjusted earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$BBY$DLTR$SNPS
Japan

US Equity Indexes Rise Amid Rumors of Iran Peace Agreement

US equity indexes rose amid media speculation of a peace deal with Iran to end the war and as the Federal Reserve's preferred inflation rate eased sequentially.The Nasdaq Composite climbed 0.6% to 26,846.2, the S&P 500 advanced 0.5% to 7,557.3, and the Dow Jones Industrial Average edged up by less than 0.1% to 50,678.1 after midday on Thursday.Healthcare and technology led the gainers intraday. Utilities, consumer staples, and financials were among the decliners.Negotiators for the US and Iran have reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and begin talks on Iran's nuclear program, but President Donald Trump has not yet given final approval, Axios reported Thursday, citing two US officials. The White House didn't immediately reply to a request for comment.West Texas Intermediate crude oil futures rose 1.1% to $89.65, and Brent crude futures climbed 0.5% to $94.78.On a month-on-month basis, the personal consumption expenditures, or PCE, price index slowed to 0.4% in April from 0.7% in the previous month, Bureau of Economic Analysis data showed Thursday. The Street expected 0.5%. The core PCE price index, which excludes the more volatile food and energy and is the Fed's preferred inflation gauge, grew by 0.2% versus March's 0.3%, also the consensus for April.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Thursday Amid New US Attacks on Iran

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.04% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% lower in Thursday's premarket activity as new US attacks on Iran led to rising oil prices.US stock futures were also lower, with S&P 500 Index futures down 0.2%, Dow Jones Industrial Average futures slipping 0.2%, and Nasdaq futures retreating 0.4% before the start of regular trading.US initial jobless claims rose to a level of 215,000 in the week ended May 23 from an upwardly revised 210,000 level in the previous week, compared with expectations for a level of 211,000 in survey of analysts compiled by Bloomberg.New orders for US durable goods rose by 7.9% in April following a smaller increase of 1.3% in March, well above the expectations for a 4.0% increase in a survey compiled by Bloomberg.The new-home sales data for April will be released at 10 am ET, followed by the weekly natural gas stocks at 10:30 am ET.The weekly petroleum stocks data posts at 12 pm ET.New York Federal Reserve President John Williams and St. Louis Fed President Alberto Musalem are slated to speak on Thursday.In premarket activity, bitcoin was down by 2.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.1% lower, Ether ETF (EETH) retreated by 3.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 1.1%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.5%, and the iShares US Technology ETF (IYW) was 0.4% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined by 0.9%, while the iShares Semiconductor ETF (SOXX) lost 1%.Snowflake (SNOW) shares were up more than 38% in Thursday's premarket activity after the company lifted its full-year product revenue outlook and agreed to a $6 billion infrastructure spending deal with Amazon's (AMZN) Amazon Web Services.Winners and Losers:EnergyThe iShares US Energy ETF (IYE) gained 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1%.Borr Drilling (BORR) stock was up more than 5% before the opening bell after the company priced an upsized $2.04 billion senior secured notes offering and simultaneously expanded a tender offer for its outstanding 10.375% senior secured notes due 2030.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.1%. The iShares US Consumer Staples ETF (IYK) was 0.8% lower. 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 0.8% higher.Burlington Stores (BURL) shares were down more than 2% pre-bell even after the company posted higher fiscal Q1 adjusted earnings and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.5%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was inactive.American Superconductor (AMSC) stock was down more than 2% before the opening bell after the company provided lower-than-expected fiscal Q1 guidance.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was 1.1% higher, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.2% higher.Sanofi (SNY) stock was down more than 1% premarket. The company said it has been granted a US Food and Drug Administration priority review for a new drug application for venglustat for the treatment of type 3 Gaucher disease, a rare disorder.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) declined by 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.2% higher.Bank of Montreal (BMO) shares were up more than 1% pre-bell after the company reported higher fiscal Q2 adjusted earnings and revenue.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 2.9% to $91.23 per barrel on the New York Mercantile Exchange. Natural gas was up 0.5% at $3.11 per 1 million British Thermal Units. The United States Oil Fund (USO) rose by 1.5%, while the United States Natural Gas Fund (UNG) was 0.2% lower.Gold futures for July retreated by 1.5% to $4,414.10 an ounce on the Comex. Silver futures declined by 2.5% to $73.04 an ounce. SPDR Gold Shares (GLD) was down by 1.1%, and the iShares Silver Trust (SLV) fell by 1.7%.

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

Fresh Military Strikes Between US, Iran Drag US Equity Futures Pre-Bell

US equity futures were edging lower pre-bell Thursday as fresh US and Iranian strikes once again threatened the fragile ceasefire between the two nations, reducing optimism surrounding a potential peace deal.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.2% lower.The US military said it had fired on Iranian drones over the Strait of Hormuz and attacked a military site in the port city of Bandar Abbas, which is the second time in three days it has struck targets in Iran for what it called self-defense. Iran said it responded by launching an attack on an American air base in the region.Traders observed the latest round of earnings, including those of several major Canadian banks. Royal Bank of Canada (RY) reported higher fiscal Q2 adjusted earnings and revenue, while Toronto-Dominion Bank (TD) posted increased fiscal Q2 adjusted earnings amid lower revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.2% at $94.26 per barrel and US West Texas Intermediate crude 2.4% higher at $90.73 per barrel.The April core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, released at 8:30 am ET, gained 0.2%, lower than the 0.3% increase in the prior month and the expected 0.3% gain in a survey compiled by Bloomberg.Initial jobless claims rose to 215,000 in the week ended May 23 from 210,000 level in the previous week, compared with expectations for a smaller increase to 211,000. Preliminary Q1 GDP growth was recorded at a 1.6% rise, compared with the advance estimate of a 2% increase.Durable goods new orders rose 7.9% in April after a 1.3% gain in the prior month, compared with expectations for a 4% increase.In other world markets, Japan's Nikkei closed 0.5% lower, Hong Kong's Hang Seng ended 1.3% lower, and China's Shanghai Composite finished 0.1% higher. Meanwhile, the UK's FTSE 100 was down 1%, and Germany's DAX index was 0.7% lower in Europe's early afternoon session.In equities, Dell Technologies (DELL) shares were up 4.6% after the company said its unit Dell Federal Systems won a blanket purchase agreement with an overall estimated value of $9.69 billion from the US Navy under the Department of Defense Enterprise Software Initiative. Snowflake (SNOW) stock was 37% higher after the cloud-based data platform lifted its fiscal 2027 product revenue outlook and agreed to a $6 billion infrastructure spending deal with Amazon's (AMZN) Amazon Web Services. Royal Bank of Canada shares were up 1.7% after the bank reported its fiscal Q2 financial results.On the losing side, HSBC (HSBC) stock was down 2.2% after a Bloomberg News report that UK's Cambridge University was withdrawing its investments from institutions providing financial support to fossil fuels, including the British bank. AstraZeneca (AZN) shares were 0.8% lower after the company said that the US Food and Drug Administration delayed the decision deadline for its new drug application regarding a combination breast cancer treatment.

Dow JonesNasdaq CompositeS&P 500$AMZN$AZN$DELL$HSBC$RY$SNOW$TD
Japan

Fresh Military Strikes Between US, Iran Weigh on US Equity Futures Pre-Bell

US equity futures were lower pre-bell Thursday as fresh US and Iranian strikes once again threatened the fragile ceasefire between the two nations, reducing optimism surrounding a potential peace deal.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.3%, and Nasdaq futures were 0.5% lower.The US military said it had fired on Iranian drones over the Strait of Hormuz and attacked a military site in the port city of Bandar Abbas, which is the second time in three days it has struck targets in Iran for what it called self-defense. Iran said it responded by launching an attack on an American air base in the region.Traders observed the latest round of earnings, including those of several major Canadian banks. Royal Bank of Canada (RY) reported higher fiscal Q2 adjusted earnings and revenue, while Toronto-Dominion Bank (TD) posted increased fiscal Q2 adjusted earnings on lower revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.1% at $95.06 per barrel and US West Texas Intermediate crude 3.2% higher at $91.48 per barrel.The April core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, scheduled for release at 8:30 am ET, is expected to increase 0.3%, which is the same as the prior month's gain, according to estimates compiled by Bloomberg. The April durable goods orders report is expected to show a 4.0% increase after a gain of 0.8% in the prior month.Initial jobless claims are projected to have risen to 211,000 in the week ended May 23 from 209,000 in the prior week. The preliminary estimate for Q1 GDP is seen coming in at 2.0%, unchanged from the prior value.

Dow JonesNasdaq CompositeS&P 500$RY$TD

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