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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.

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US Equity Futures Mostly Flat Pre-Bell as Traders Await Further Inflation Data, Nvidia Results

US equity futures were mostly flat pre-bell Wednesday as traders awaited a key inflation report and AI bellwether Nvidia's (NVDA) financial results.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were flat, and Nasdaq futures were 0.1% lower.President Donald Trump said that the US Navy has told him that all mines have been removed or detonated within the Strait of Hormuz. "There is a Zero Tolerance policy on mine placement in full force and effect," Trump said in a post on Truth Social.Nvidia is expected to report its fiscal Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $2.09 per share on revenue of $92.27 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.2% at $85.39 per barrel and US West Texas Intermediate crude 2.4% lower at $80.37 per barrel.The July 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 0.2%, compared with the prior month's gain of 0.1%, according to estimates compiled by Bloomberg. The July durable goods orders report is expected to show a 0.5% increase, the same rate as the prior month.Personal income for July is seen rising by 0.2%, the same gain as the previous month. The second estimate for Q2 GDP is seen coming in at 1.5%, unchanged from the advance print.Federal Reserve Richmond President Thomas Barkin is slated to speak on Wednesday.

Dow JonesNasdaq CompositeS&P 500$NVDA
Equity Futures Mixed Pre-Bell Ahead of Key Inflation Report, Nvidia Earnings
US Markets

Equity Futures Mixed Pre-Bell Ahead of Key Inflation Report, Nvidia Earnings

The main US equity measures were mixed in premarket activity Wednesday as traders await a key inflation report and the latest financial results of tech bellwether Nvidia (NVDA).The Nasdaq was down 0.1%, the Dow Jones Industrial Average was up 0.1%, while the S&P 500 was little changed before the opening bell. The three indexes finished Tuesday trading higher, with the Dow rising for a third consecutive session.The personal income and outlays report for July is scheduled to be released at 8:30 am ET. The report includes the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric, as well as data on consumer spending.Data are expected to show that core PCE -- which excludes food and energy prices -- increased 0.2% sequentially and 3.3% annually, according to a Bloomberg-compiled consensus.Treasury yields were mixed in premarket action, with the two-year rate retreating one basis point to 4.2% and the 10-year rate little changed at 4.64%.On Tuesday, Boston Fed President Susan Collins said the Fed may have to raise interest rates soon, unless inflation continues to cool.Markets are currently pricing in a 64% probability that the central bank will keep its benchmark rate steady next month, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.The second estimate report of the US second-quarter gross domestic product is also out at 8:30 am, along with the durable goods orders report for last month. Wednesday's economic calendar also has the weekly mortgage applications bulletin and weekly EIA domestic petroleum inventories report.Richmond Fed President Thomas Barkin is slated to speak at 11:45 am.Nvidia shares were up 0.4% pre-bell, following a 2.2% increase Tuesday. The chipmaking giant is scheduled to report its fiscal second-quarter results after the markets close Wednesday. The current consensus on FactSet is for non-GAAP earnings of $2.09 a share on revenue of $92.27 billion.In a recent note to clients, Morgan Stanley said Nvidia is expected to post strong second-quarter results, though investors are likely to focus more on its longer-term growth drivers.CrowdStrike (CRWD), Salesforce (CRM), Synopsys (SNPS), HP (HPQ) and Urban Outfitters (URBN) are also scheduled to report results in the after hours, while Williams-Sonoma (WSM), J.M. Smucker (SJM), Abercrombie & Fitch (ANF), Bath & Body Works (BBWI) and Kohl's (KSS) post before the bell, among others.West Texas Intermediate crude oil dropped 2.7% to $80.18 a barrel before the open, while Brent fell 3% to $85.97.The foreign ministers of Iran and Oman discussed a proposed framework Tuesday to establish "a joint temporary navigational corridor" through the Strait of Hormuz and implement a joint project to clear the crucial waterway of mines, news outlets reported. The two countries also reportedly agreed to continue technical talks for the future administration of the strait.Intuit (INTU) shares were down 9.8% pre-bell Wednesday after the tax and finance software maker overnight issued a soft fiscal 2027 outlook.Zoom Communications (ZM) fell 6.9% in premarket activity as the video communication platform late Tuesday provided a downbeat earnings outlook for its fiscal third quarter following a second-quarter beat.Gold fell 0.3% to $4,679 per troy ounce, while bitcoin dropped 0.7% to $78,340.

Dow JonesNasdaq CompositeS&P 500$ANF$BBWI$CRM$CRWD$HPQ$INTU$KSS$NVDA$SJM$SNPS$URBN$WSM$ZM
Asia Markets

Nvidia, Oil Outlooks Limit Wall Street Pre-Bell; Asia, Europe Up

Wall Street futures pointed modestly lower pre-bell Wednesday as traders weighed easing oil prices and awaited the after-bell earnings release from semiconductor and AI industry bellwether Nvidia (NVDA).In the futures, the S&P 500 fell 0.1%, the Nasdaq declined 0.1% and the Dow Jones was steady.West Texas Intermediate crude oil traded down 2.5% at $80.31 in morning hours.Traders also await the personal consumption expenditures-core (PCE-core) price index report for July from Washington, slated for an 8:30 am ET release. The Federal Reserve's preferred inflation gauge will be parsed for clues into how general inflation is faring, given higher energy bills.Asian exchanges traded mostly higher overnight, and European bourses edged north midday on the continent.Intuit (INTU) traded down 11% pre-bell after the software enterprise reported fiscal Q4 earnings and revenue above expectations, but offered tepid guidance late Tuesday.On the economic calendar, in addition to the PCE-core bulletin, is the durable goods orders report for July at 8:30 am ET, along with the revised Q2 gross domestic product (GDP) estimate, and the Q2 corporate profits release.The Atlanta Federal Reserve Survey of Business Uncertainty report for August is also scheduled for release later this morning, as well as the weekly EIA petroleum status bulletin set for 10:30 am.Federal Reserve Richmond President Thomas Barkin is slated to speak on Wednesday.In premarket action, Bitcoin traded at $78,623, and 10-year US Treasuries offered 4.64%. Spot gold commanded $4,620 an ounce.

Dow JonesNasdaq CompositeS&P 500$INTU$NVDA
Asia Markets

Update: US Equity Indexes Rise With Tech While Treasury Yields, Crude Oil Slide as Process to Tighten Noose Around Iran Begins

(Updates with index/price moves, macroeconomic data, analyst comments and company/geopolitical news from the first paragraph.)US equity indexes rose as technology topped sector charts while government bond yields and crude oil extended declines after the Treasury Department began a campaign to tighten sanctions on Iran.The Nasdaq Composite advanced 0.5% to 26,151.30, the S&P 500 climbed 0.3% to 7,677.28, and the Dow Jones Industrial Average edged up 0.3% to 53,577.40 on Tuesday. Communication services was one of the biggest gainers, while energy and consumer staples led decliners at the close. Nvidia's (NVDA) quarterly earnings are due after the bell on Wednesday.The Treasury Department is targeting aviation, shipping, technology, gold and digital assets such as cryptocurrency to choke off Iran's economy, CNN reported. The US is also threatening to impose damaging new sanctions on countries that refuse to cut economic ties with Tehran.Iran pledged to fight back against expanded US sanctions, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.Hours after the US sanctioned dozens of Chinese entities and threatened to target an unspecified "major financial institution" for its dealings with Tehran, Beijing responded by saying its relationship with Iran "should not be disrupted or undermined," Bloomberg reported. China will take "all necessary measures" to safeguard its interests, Foreign Ministry spokesperson Lin Jian was cited as saying.China is the number one buyer of Iranian oil and has insisted it will keep buying about 1.4 million barrels per day, or more than 80% of Iran's crude it currently imports despite US sanctions, according to a Stifel note.The front-month US West Texas Intermediate crude oil contract sank 5.5% to $80.34 per barrel, and global benchmark North Sea Brent plunged 6.5% to $86.18 per barrel.US Treasury yields fell on Tuesday. The 30-year slumped 7.4 basis points to 5.16%, the 10-year dropped 8.1 basis points to 4.62%, and the two-year retreated six basis points to 4.19%.Treasury Secretary Scott Bessent's surprise plan to tamp down US borrowing costs by expanding bond buybacks is having an impact as Treasuries have outperformed equivalent-maturity swaps, narrowing the 30-year spread between the two to the smallest since February, Bloomberg reported.The US administration may be trying to create space for more corporate bond issuance in H2, with the specific goal of helping accelerate the AI infrastructure build-out, bringing the benefits of that build-out sooner and at a lower financial cost than otherwise would have been possible, a Macquarie note said.Meanwhile, the Conference Board's measure of consumer confidence fell to 89.4 in August from 90.2 in July, compared with expectations for no change in a survey compiled by Bloomberg. New home sales fell to a 607,000 annual rate in July from an upwardly revised 678,000 in June, below the 620,000 expected in a survey compiled by Bloomberg. Home sales were down 6.3% from a year ago.July's personal consumption expenditures, or PCE, a key data point in monetary policy formulation, is due Wednesday.Dick's Sporting Goods (DKS) lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace while fiscal Q2 results missed market estimates. Shares sank 31%. Among the steepest decliners on the Dow and the S&P 500 were sports goods retailers Nike (NKE) and Lululemon Athletics (LULU).

Dow JonesNasdaq CompositeS&P 500$DKS$LULU$NKE$NVDA
Update: Equities Rise Despite US-Canada Trade Tensions
US Markets

Update: Equities Rise Despite US-Canada Trade Tensions

(Updates with market moves at the end of the day, and other changes, if any.)Stocks rose Tuesday as Wall Street appeared to dismiss rising trade tensions between the US and Canada.The technology-heavy Nasdaq Composite added 0.7% to close at 26,151.30, while the S&P 500 climbed 0.3% to 7,677.28. The Dow Jones Industrial Average advanced 0.3% to settle at 53,577.40, extending its winning streak to a third day.Most sectors were in the green, led by tech, while energy saw the steepest decline.Canada on Tuesday announced retaliatory tariffs on roughly US$20 billion worth of the American goods, matching Washington's move "dollar for dollar."Trade talks between the US and Canada collapsed late last week.West Texas Intermediate crude oil fell 4.6% to $81.10 a barrel in Tuesday late-afternoon trade, while Brent slumped 5.3% to $87.31.On Monday, the US Treasury Department launched an economic campaign to cut off financial channels that support Iran. Tehran expressed confidence that its major trading partners that include China, Russia and India will resist Washington's pressure campaign, according to CNBC.China said its cooperation with Tehran should not be disrupted, CNN reported Tuesday."The market seems largely unfazed by Washington's push for tighter economic pressure on Iran, with traders treating the US effort to nudge partners away from Iranian trade as marginal rather than market-moving," ING Bank said in a report.US Treasury yields were lower, with the 10-year yield down 7.9 basis points at 4.63% and the two-year yield falling six basis points to 4.18%.In economic news, US consumer confidence fell in August amid a decline in the expectations index, with a "more pessimistic" outlook for business conditions and the labor market ahead, the Conference Board said.New home sales in the US decreased more than projected last month even as median prices moved lower, government data showed.Switching to monetary policy, the Federal Reserve may have to raise interest rates soon, unless inflation continues to cool, Boston Fed President Susan Collins said.Markets are currently pricing in a 66% probability that the Fed will keep its benchmark rate steady in September, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.In company news, Dick's Sporting Goods (DKS) shares sank nearly 31%. The athletic goods retailer lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace, while its fiscal second-quarter results fell short of market estimates.McKesson (MCK) agreed to acquire Precision Medicine in a transaction worth roughly $2.25 billion as part of the drug distributor's efforts to strengthen its clinical research and commercialization services. McKesson shares jumped 3.6%.Nvidia (NVDA) shares rose 2.2%, the second-biggest gain on the Dow and snapping a seven-day losing streak. The tech bellwether is scheduled to release its quarterly results on Wednesday.Spot gold was up 0.4% at $4,668.41 per troy ounce, while silver rose 0.5% to $69.76 per ounce.

Dow JonesNasdaq CompositeS&P 500$DKS$MCK$NVDA
Japan

US Equity Markets Higher as Crude Oil Prices, Bond Yields Drop After US Treasury Threatens Economic Sanctions on Iran

US equity indexes ended higher Tuesday as crude oil prices and government bond yields dropped, after the US Treasury Department started a campaign to impose economic sanctions on Iran.* The Treasury is targeting aviation, shipping, technology, gold and digital assets such as cryptocurrency to choke off Iran's economy, CNN reported. The US is also threatening new sanctions on countries that refuse to cut economic ties with Tehran.* Iran pledged to fight back against expanded US sanctions aimed at isolating its economy, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.* The Conference Board's measure of consumer confidence fell to 89.4 in August from 90.2 in July, compared with expectations for no change in a survey compiled by Bloomberg.* New-home sales fell to a 607,000 annual rate in July from an upwardly revised 678,000 in June, below the 620,000 expected in a survey compiled by Bloomberg, and down 6.3% from a year ago.* October West Texas Intermediate crude oil fell $3.96 to settle at $81.05 per barrel, while October Brent crude, the global benchmark, was last seen down $4.92 at $87.25.* Moderna (MRNA) shares were up roughly 14%, the top gainer on the S&P 500, after Wolfe Research upgraded the company's stock to peer perform from underperform.* Shell (SHEL) has drawn interest from potential bidders, including ExxonMobil (XOM), LyondellBasell (LYB) and Apollo Global Management (APO), for its US chemicals assets, which could fetch up to $8 billion, the Financial Times reported Monday, citing people familiar with the matter. LyondellBasell shares were down 4%, the worst performer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$APO$LYB$MRNA$SHEL$XOM
Japan

Update: US Equity Indexes Advance Amid Slumping Treasury Yields, Crude Oil

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes rose as technology topped sector charts while government bond yields and crude oil extended declines after the Treasury Department began a campaign to tighten sanctions against Iran.The Nasdaq Composite advanced 0.4% to 26,090.8, the S&P 500 climbed 0.2% to 7,667.4 and the Dow Jones Industrial Average edged up 0.3% to 53,558.5. Energy and consumer staples led the decliners.The Treasury is targeting aviation, shipping, technology, gold and digital assets such as cryptocurrency to choke off Iran's economy, CNN reported. The US is also threatening damaging new sanctions on countries that refuse to cut economic ties with Tehran.Iran pledged to fight back against expanded US sanctions aimed at isolating its economy, expressing confidence major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.Hours after the US sanctioned dozens of Chinese entities and threatened to target an unspecified "major financial institution" for its dealings with Tehran, Beijing responded by saying its relationship with Iran "should not be disrupted or undermined," Bloomberg reported. China will take "all necessary measures" to safeguard its interests, Foreign Ministry spokesperson Lin Jian was cited as saying.Meanwhile, Iran and Oman outlined a proposal to establish a temporary joint shipping lane and launch a demining effort in the Strait of Hormuz, the CNN news report said.The front-month US West Texas Intermediate crude oil contract retreated 3.2% to $82.29 per barrel, and global benchmark North Sea Brent slumped 4% to $88.50 per barrel.US Treasury yields remained lower in the final stretch of trading. The 30-year slumped 6.1 basis points to 5.17%, the 10-year dropped 6.7 basis points to 4.64% and the two-year retreated 4.5 basis points to 4.19%.

Dow JonesNasdaq CompositeS&P 500
Update: Equities Rise Intraday, Oil Falls as Markets Monitor Trade Developments
US Markets

Update: Equities Rise Intraday, Oil Falls as Markets Monitor Trade Developments

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday, while oil prices dropped as investors tracked Washington's new economic sanctions on Iran and a worsening trade conflict with Canada.The technology-heavy Nasdaq Composite was up 0.5% at 26,118.8 after midday Tuesday, while the S&P 500 rose 0.2% to 7,668.7. The Dow Jones Industrial Average edged up 0.1% to 53,484.3. Among sectors, tech paced the gainers, while consumer staples led the laggards.West Texas Intermediate crude oil fell 3.2% to $82.31 a barrel, while Brent dropped 3.7% to $88.81.On Monday, the US Treasury Department launched an economic campaign to cut off financial channels that support Iran. Countries doing business with Tehran will be given deadlines to shut down Iran-related activities, while entities aiding money laundering or sanctions evasion on behalf of Iran could be cut off from the US financial system.Iran vowed to retaliate and expressed confidence that its major trading partners will resist Washington's pressure campaign, according to CNBC. China, Russia, India, Pakistan, Qatar and Turkey, among others, still trade with Tehran, Axios reported Monday.China has warned that the new US sanctions on Iran "will only further intensify tensions" and that Beijing's cooperation with Tehran should not be disrupted, CNN reported Tuesday."The market seems largely unfazed by Washington's push for tighter economic pressure on Iran, with traders treating the US effort to nudge partners away from Iranian trade as marginal rather than market-moving," ING Bank said in a report.Canada unveiled retaliatory tariffs against Washington, matching "dollar for dollar" the 50% duties recently imposed by US President Donald Trump, news outlets reported Tuesday. Canada's new tariffs reportedly cover more than 700 US goods and are worth roughly $20 billion.Trade talks between the US and Canada collapsed late last week.US Treasury yields were lower intraday Tuesday, with the 10-year yield down 5.9 basis points at 4.65% and the two-year yield falling 2.8 basis points to 4.21%. Yields on long-term maturities also eased.In economic news, US consumer confidence fell in August amid a decline in the expectations index, with a "more pessimistic" outlook for business conditions and the labor market ahead, the Conference Board said.The Federal Reserve may have to tighten its monetary policy soon, unless inflation continues to cool, Boston Fed President Susan Collins said."Given the many possible scenarios, policy will need to be nimble," she said. "Should evidence of sustained inflation progress not materialize, I believe it will be appropriate to tighten policy soon to ensure we deliver price stability in a reasonable time frame."Markets are currently pricing in a 60% probability that the Fed will keep its benchmark rate steady in September, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.In company news, Dick's Sporting Goods (DKS) shares sank 29% intraday. The athletic goods retailer lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace, while its fiscal second-quarter results fell short of market estimates.McKesson (MCK) agreed to acquire Precision Medicine in a transaction worth roughly $2.25 billion as part of the drug distributor's efforts to strengthen its clinical research and commercialization services. McKesson shares were up 2.3%.Intuit (INTU) is among the companies that are scheduled to report their latest quarterly financial results after the closing bell Tuesday.Spot gold was down 0.3 at $4,640.49 per troy ounce, while silver edged up 0.1% to $69.43 per ounce.

Dow JonesNasdaq CompositeS&P 500$DKS$INTU$MCK
Asia Markets

Exchange-Traded Funds Rise as US Equities Advance After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were higher. Actively traded Invesco QQQ Trust (QQQ) added 0.6%.US equity indexes rose as technology topped sector charts while government bond yields and crude oil extended declines after Iran vowed to retaliate against the Trump administration's plans to choke its fragile economy.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each lost 0.8%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) rose 0.8%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) also advanced.The State Street SPDR S&P Semiconductor (XSD) was up 1.5%, while iShares Semiconductor (SOXX) added 1.3%.FinancialThe State Street Financial Select Sector SPDR (XLF) fell fractionally. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.1%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), gained 0.2%.CommoditiesCrude oil eased 3.1%, and the United States Oil Fund (USO) lost 3.4%. Natural gas dipped 0.7%, and the United States Natural Gas Fund (UNG) fell 0.1%.Gold on Comex rose 0.1%, and the State Street SPDR Gold Shares (GLD) eased 0.3%. Silver gained 0.1%, and iShares Silver Trust (SLV) slipped 0.3%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) shed 1.2%. The Vanguard Consumer Staples ETF (VDC) fell 1%, while iShares Dow Jones US Consumer Goods (IYK) lost 0.6%.The State Street Consumer Discretionary Select Sector SPDR (XLY) fell fractionally. VanEck Retail ETF (RTH) was flat, and the State Street SPDR S&P Retail (XRT) dropped 1.1%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) gained 0.5%. iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were also higher. IShares Biotechnology ETF (IBB) added 1.7%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) dipped 0.3%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also in the red.CryptocurrencyIn midday activity, bitcoin (BTC-USD) added 0.3%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) gained 0.3%, ProShares Ether ETF (EETH) was up 0.3%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) climbed 0.7%.

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

Update: Technology Helps Push US Equity Indexes Higher Amid Declines in Treasury Yields, Crude Oil

(Updates with index/price moves, macroeconomic data, and company news from the first paragraph.)US equity indexes rose as technology topped sector charts while government bond yields and crude oil extended declines after Iran vowed to retaliate against the Trump administration's plans to choke its fragile economy.The Nasdaq Composite advanced 0.6% to 26,141.5, the S&P 500 climbed 0.3% to 7,675.6 and the Dow Jones Industrial Average edged up 0.1% to 53,493.8. Consumer staples and energy led the decliners.Among companies with market capitalizations exceeding $200 billion each, more than half of the top 10 names by intraday returns were in the technology sector, according to data compiled by Finviz. Of those seven firms, five were related to the semiconductor industry. Marvell Technology (MRVL) led the pack, up 5.6%.US Treasury yields dropped after midday. The 30-year slumped 5.8 basis points to 5.17%, the 10-year dropped 5.9 basis points to 4.64% and the two-year retreated 5.3 basis points to 4.2%.Iran pledged to fight back against expanded US sanctions aimed at isolating its economy, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.Hours after the US sanctioned dozens of Chinese entities and threatened to target an unspecified "major financial institution" for its dealings with Tehran, Beijing responded by saying its relationship with Iran "should not be disrupted or undermined," Bloomberg reported. China will take "all necessary measures" to safeguard its interests, Foreign Ministry spokesperson Lin Jian was cited as saying.The front-month US West Texas Intermediate crude oil contract retreated 3.4% to $82.09 per barrel, and global benchmark North Sea Brent slumped 3.8% to $88.69 per barrel.A Canada-US trade deal could still be reached by year-end despite renewed tariff tensions, Commerzbank Research said in a Tuesday note. Monday's US tariffs on Canadian vehicles, auto parts and steel are set to take effect from the start of next year.Meanwhile, in economic news, the Conference Board's measure of consumer confidence fell to 89.4 in August from 90.2 in July, compared with expectations for no change in a survey compiled by Bloomberg.New-home sales fell to a 607,000 annual rate in July from an upwardly revised 678,000 in June, below the 620,000 expected in a survey compiled by Bloomberg. Home sales were down 6.3% from a year ago.The Richmond Fed's manufacturing index fell to 4 in August from 5 in July, below expectations for 7 in a survey compiled by Bloomberg. In contrast, other regional manufacturing data already released have suggested a faster pace of expansion.Redbook US same-store sales surged 9.1% from a year earlier in the week ended Aug. 22 after a 7.6% jump in the prior week. Redbook noted strong back-to-school sales.In company news, Dick's Sporting Goods (DKS) lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace while fiscal Q2 results missed market estimates. Shares sank 29%. Among the steepest decliners on the Dow and the S&P 500 were sports goods retailers Nike (NKE) and Lululemon Athletics (LULU), down 2.7% and 4.2%, respectively.

Dow JonesNasdaq CompositeS&P 500$DKS$LULU$MRVL$NKE
Japan

Update: Technology Helps Push US Equity Indexes Higher in Midday Trading

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes rose as technology topped sector charts while government bond yields and crude oil extended declines after Iran vowed to retaliate against the Trump administration's plans to choke its fragile economy.The Nasdaq Composite advanced 0.6% to 26,127.1, and the S&P 500 climbed 0.2% to 7,670.2 after midday Tuesday. The Dow Jones Industrial Average edged up by less than 0.1% to 53,435.5. Technology topped the gainers while consumer Stapels and energy led the decliners.Among companies with market capitalizations exceeding $200 billion each, more than half of the top 10 names by intraday returns were in the technology sector, according to data compiled by Finviz. Of those six firms, five were related to the semiconductor industry. Marvell Technology (MRVL) led the pack, up 6.5%.US Treasury yields dropped after midday. The 30-year slumped five basis points to 5.18%, the 10-year dropped 5.5 basis points to 4.65% and the two-year retreated 3.6 basis points to 4.2%.Iran pledged to fight back against expanded US sanctions aimed at isolating its economy, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.Hours after the US sanctioned dozens of Chinese entities and threatened to target an unspecified "major financial institution" for its dealings with Tehran, Beijing responded by saying its relationship with Iran "should not be disrupted or undermined," Bloomberg reported. China will take "all necessary measures" to safeguard its interests, Foreign Ministry spokesperson Lin Jian was cited as saying.The front-month US West Texas Intermediate crude oil contract retreated 2.9% to $82.56 per barrel, and global benchmark North Sea Brent slumped 3.1% to $89.35 per barrel.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Tuesday as Chip Stocks Recover

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5%, and the actively traded Invesco QQQ Trust (QQQ) was 1% higher in Tuesday's premarket activity as chip stocks recovered from Monday's losses.US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures gaining 1% before the start of regular trading.In premarket activity, bitcoin was up by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% higher, Ether ETF (EETH) advanced 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) increased 2.4%.The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index fell to negative 10.6 in August from 7.4 in the previous month, compared with a smaller decrease to 3.6 expected in a Bloomberg survey, indicating contraction in the sector.The Case-Shiller National Home Price index rose by 0.4% in June before seasonal adjustment following a 0.7% increase in May.The FHFA's measure of home prices held steady in June after an unrevised 0.3% increase in the previous month, below the 0.2% gain expected in a survey compiled by Bloomberg.Reports slated for a 10 am ET release include the consumer confidence report and Richmond Fed business conditions data for August, and new-home sales for July.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was 0.1% lower, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.1%, and the iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.2%. The VanEck Retail ETF (RTH) was down 0.4%, while the State Street SPDR S&P Retail ETF (XRT) was flat.Dick's Sporting Goods (DKS) shares were down more than 17% pre-bell after the company reported lower fiscal Q2 non-GAAP earnings and cut its fiscal 2026 guidance.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.7% lower.Bank of Nova Scotia (BNS) shares were up 2% in premarket activity after the company reported higher fiscal Q3 adjusted earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.1%, the Vanguard Health Care Index Fund (VHT) was up 1%, while the iShares US Healthcare ETF (IYH) advanced 0.5%. The iShares Biotechnology ETF (IBB) was 0.2% higher.Moderna (MRNA) stock was up more than 1% premarket after Wolfe upgraded it to peer perform from underperform.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.5%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.SpaceX (SPCX) stock was up more than 1% before the opening bell after Elon Musk said in an X post on Monday that the company plans to launch its first AI satellites run by Nvidia (NVDA) chips in Q4 2027, with the network expected to reach significant scale in 2028.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1.1%, the iShares US Technology ETF (IYW) was 1.3% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased 2.9% while the iShares Semiconductor ETF (SOXX) rose by 2.4%.Nvidia (NVDA) shares were up more than 1% in premarket activity after Raymond James lifted its price target for the company to $352 from $330.EnergyThe iShares US Energy ETF (IYE) retreated 0.02%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 1%.Equinor (EQNR) stock was down more than 1% before market open, following a 1.1% loss in the previous session. The company's Executive Vice President Philippe Mathieu said Equinor plans to boost production outside Norway to 950,000 barrels of oil equivalent per day by 2030, while generating $20 billion of free cash flow from 2026 to 2030.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 3.5% to $82.02 per barrel on the New York Mercantile Exchange. Natural gas was down 1.7% at $2.74 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased 2.9%, while the United States Natural Gas Fund (UNG) was 1.4% lower.Gold futures for November were down by 0.1% at $4,692.70 an ounce on the Comex. Silver futures retreated 0.9% to $68.77 an ounce. SPDR Gold Shares (GLD) decreased 0.4%, and the iShares Silver Trust (SLV) was 1.3% lower.

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

Update: US Equity Futures Higher Pre-Bell as Tech Stocks Bounce Back From Selloff

(Updates with economic data, recent oil price movement, world markets' overview, and corporate stock movements.)US equity futures were edging higher pre-bell Tuesday as technology-related stocks bounced back from a selloff in the previous session.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 1% higher.In a Monday announcement of new economic sanctions against Iran, US Treasury Secretary Scott Bessent said that other countries would need to stop doing business with the Middle Eastern nation or risk being cut out of the dollar-based financial system. He did not identify the countries involved but added that they have a defined timeline to comply with the new directive.Traders digested the latest round of earnings, with Bank of Montreal (BMO) reporting higher fiscal Q3 adjusted earnings and revenue.Intuit (INTU) is expected to report its fiscal Q4 earnings after the market closes. Analysts polled by FactSet expect adjusted earnings of $3.58 per share on revenue of $4.27 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.9% at $87.88 per barrel and US West Texas Intermediate crude 3.1% lower at $82.37 per barrel.The June S&P Case-Shiller home price index is scheduled for release at 9 am ET. The August consumer confidence index, due at 10 am ET, is projected to drop to 90.2 from 90.8, according to estimates compiled by Bloomberg. July new home sales are seen at a 620,000 annual rate, down from 628,000 previously. The Richmond Fed manufacturing index for August is also scheduled to be released at 10 am ET.Federal Reserve Richmond President Thomas Barkin is slated to speak at 4 pm ET.In other world markets, Japan's Nikkei closed 0.5% higher, Hong Kong's Hang Seng ended flat, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.8% higher in Europe's early afternoon session.In equities, stocks of Nvidia (NVDA), Micron Technology (MU), and Advanced Micro Devices (AMD) were higher as part of a wider upswing in the technology sector. Nvidia shares rose 1.3%, Micron Technology stock was up 2.2%, and Advanced Micro Devices shares were 3% higher.On the losing side, stocks of Exxon Mobil (XOM), Chevron (CVX), and ConocoPhillips (COP) were down as oil prices declined. Exxon Mobil shares fell 1.3%, Chevron stock was down 1%, and ConocoPhillips shares were 1.7% lower. Dick's Sporting Goods (DKS) stock plunged 19% after the company posted lower-than expected fiscal Q2 non-GAAP earnings and net sales, as well as reduced its fiscal 2026 outlook.

Dow JonesNasdaq CompositeS&P 500$AMD$BMO$COP$CVX$DKS$INTU$MU$NVDA$XOM
Japan

US Equity Futures Higher Pre-Bell as Tech Stocks Bounce Back From Selloff

US equity futures were edging higher pre-bell Tuesday as technology-related stocks bounced back from a selloff in the previous session.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.9% higher.In a scheduled announcement of new economic sanctions against Iran, US Treasury Secretary Scott Bessent said in a statement that other countries would need to stop doing business with the Middle Eastern nation or risk being cut out of the dollar-based financial system. He did not identify the countries involved but added that they have a defined timeline to comply with the new directive.Traders digested the latest round of earnings, with Bank of Montreal (BMO) reporting higher fiscal Q3 adjusted earnings and revenue.Intuit (INTU) is expected to report its fiscal Q4 earnings after the market closes. Analysts polled by FactSet expect adjusted earnings of $3.58 per share on revenue of $4.27 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.8% at $88.03 per barrel and US West Texas Intermediate crude 3.2% lower at $82.26 per barrel.The June S&P Case-Shiller home price index is scheduled for release at 9 am ET. The August consumer confidence index, due at 10 am ET, is projected to drop to 90.2 from 90.8, according to estimates compiled by Bloomberg. July new home sales are seen at a 620,000 annual rate, down from 628,000 previously. The Richmond Fed manufacturing index for August is also scheduled to be released at 10 am ET.Federal Reserve Richmond President Thomas Barkin is slated to speak on Tuesday.

Dow JonesNasdaq CompositeS&P 500$BMO$INTU
Stocks Rise Pre-Bell as Traders Weigh US Trade Measures Against Iran, Canada
US Markets

Stocks Rise Pre-Bell as Traders Weigh US Trade Measures Against Iran, Canada

US equity futures were pointing higher on Tuesday as investors assess new US trade measures against Iran and Canada.The S&P 500 and the Dow Jones Industrial Average rose 0.5% each in premarket activity, while the Nasdaq increased 1%. The S&P 500 and Nasdaq finished the previous trading session lower, while the Dow closed higher.On Monday, the Treasury Department launched an economic campaign to cut off financial channels that support Iran."We are launching an economic onslaught against Iran's financial connections around the globe," Treasury Secretary Scott Bessent said Monday. "Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone."Countries doing business with Iran will be given deadlines to shut down Iran-related activities, while entities aiding money laundering or sanctions evasion on behalf of Tehran could be cut off from the US financial system, according to a statement.Iran reportedly promised to retaliate against the expanded US sanctions and expressed confidence that its major trading partners will resist Washington's pressure campaign, according to CNBC. China, Russia, India, Pakistan, Qatar and Turkey, among others, still trade with Tehran, Axios reported Monday.West Texas Intermediate crude oil dropped 3% to $82.5 a barrel before the opening bell, while Brent fell 2.9% to $89.53.In a social media post on Monday, President Donald Trump said the US will increase tariffs on imports of certain goods, including cars and trucks, from Canada to 50% starting next year, after trade talks between the two countries collapsed late last week.Canadian Prime Minister Mark Carney said last week that Canada will match the US tariffs "dollar for dollar."Treasury yields were down in premarket action, with the two-year retreating 1.7 basis points to 4.22% and the 10-year rate off 3.4 basis points to 4.67%.Federal Reserve Chair Kevin Warsh's debut Jackson Hole speech on Friday is unlikely to help clear up investor confusion over the Treasury Department's bond market intervention, Morgan Stanley said in a note sent Monday. The firm's economists view the expansion in bond buybacks announced last week as evidence that the Treasury had become uncomfortable with a rise in long-term interest rates.Markets are currently pricing in a 60% probability that the Fed will keep its benchmark rate steady in September, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.Tuesday's economic calendar has the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for June, at 9 am ET. The consumer confidence and the Richmond Fed manufacturing index, both for August, are out at 10 am, along with the new home sales report for July.Richmond Fed President Thomas Barkin is scheduled to speak at 8 am and later at 4 pm.Dick's Sporting Goods (DKS) is set to release its latest financial results before the bell, among others. Intuit (INTU), Heico (HEI) and Zoom Communications (ZM) post their earnings after the markets close.Gold dipped 0.1% to $4,692 per troy ounce, while bitcoin inclined 0.6% to $79,298.

Dow JonesNasdaq CompositeS&P 500$DKS$HEI$INTU$ZM
Asia Markets

Easing Bond Yields, Oil Prices Lift Wall Street Pre-Bell; Asia, Europe Up

Wall Street futures pointed moderately higher pre-bell Tuesday as global oil prices eased on media reports of rising Strait of Hormuz traffic, and as interest rates softened.In futures, the S&P 500 rose 0.4%, the Nasdaq advanced 0.9%, and the Dow Jones was up 0.4%.The VanEck Semiconductor fund (SMH) rose 1.8% in pre-bell action.Chip colossus Nvidia (NVDA) gained 1.3% in pre-market moves, ahead of its earnings report slated for Wednesday.West Texas Intermediate crude oil declined 3% to $82.46 a barrel in morning hours.Asian exchanges traded mostly higher overnight, while European bourses tracked north midday on the continent.Intuit (INTU) plans to report earnings after the close.On the economic calendar are the Case-Shiller Home Price Index and FHFA House Price Index, both for June, at 9 am ET.The Conference Board consumer confidence index for August, the new home sales bulletin for July, and the Richmond Fed Manufacturing Index for August log at 10 am.Federal Reserve Richmond President Thomas Barkin is slated to speak later in the day.In pre-market action, Bitcoin traded at $79,273, and 10-year US Treasuries offered 4.67%. Spot gold commanded $4,635 an ounce.

Dow JonesNasdaq CompositeS&P 500$NVDA
Asia Markets

Update: US Equity Indexes Mixed as Chipmakers Push Technology Lower, Bessent Unveils Plans to Choke Iran's Economy

(Updates with index/price moves, macroeconomic data, analyst comments, and company/geopolitical news from the first paragraph.)US equity indexes closed mixed as mega-cap semiconductor names pushed technology to the bottom of sector charts and crude oil extended declines after Treasury Secretary Scott Bessent unveiled a plan to sever Iran's economic lifelines.The Nasdaq Composite fell 0.8% to 25,980.19, and the S&P 500 declined 0.3% to 7,652.86 on Monday. The Dow Jones Industrial Average bucked the intraday trend, rising 0.3% to 53,417.16. All sectors except three rose, with consumer staples and financials emerging as top gainers.Among companies with market capitalizations exceeding $200 billion each, nine of the bottom 10 names by intraday returns were in the technology sector, according to data compiled by Finviz. Of those nine firms, seven were related to the semiconductor industry. Sandisk (SNDK) led the pack of tech decliners, down 6.5%.Treasury Secretary Bessent unveiled "unprecedented" secondary sanctions to sever Tehran from the global economy.The US plans to impose sanctions on countries that do business with Iran, including China, Russia, India, Pakistan, Qatar and Turkey, Axios reported. "No one is above the reach of US sanctions," CNBC reported, citing Bessent on Monday in response to a question on whether the Trump administration would target Chinese banks."... we are launching an economic onslaught against Iran's financial connections around the globe. Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone," Bessent said. The campaign targets five sectors that Treasury identified as vital to Iran's economy: digital assets, technology, gold, aviation and shipping, he said.Ahead of the US announcement, Iran warned vessels violating its rules for transiting the Strait of Hormuz could face restrictions, including fines, detention or confiscation, according to Al Jazeera, a Middle Eastern broadcaster. Tehran has condemned US plans to announce new sanctions and vowed to retaliate against any country that supports Washington, as President Masoud Pezeshkian has called for a diplomatic solution.The front-month US West Texas Intermediate crude oil contract retreated 2.4% to $84.95 per barrel, and global benchmark North Sea Brent slumped 2.6% to $91.93 per barrel.Following the collapse of the US-Canada trade talks late on Friday, the US has imposed tariffs of 50% on $20 billion of goods imports from Canada, according to a note from Macquarie. The tariffs amount to about 0.03% of US gross domestic product and 0.4% of Canada's GDP, the note added.Nvidia (NVDA) customers are facing price increases of over 15% on servers equipped with its artificial intelligence chips due to rising memory costs, Bloomberg reported Saturday. Separately, Nvidia is discussing an investment in Perplexity as part of a funding round that would value the AI startup at more than $30 billion, The Information reported Sunday. Nvidia declined 2.9%, the Dow's worst performer.Expedia (EXPE) delivered its fifth consecutive beat and raise in Q2, with full-year guidance raised on all three lines, as the business-to-consumer segment continues to see solid top-line improvement and stronger margin expansion, Wedbush Securities said Thursday. Shares of Expedia jumped 5.4%, the top gainer on the S&P 500.Gold futures rose 0.5% to $4,704.3, while silver futures slid 1% to $68.86.

Dow JonesNasdaq CompositeS&P 500$EXPE$NVDA$SNDK
Update: Nasdaq, S&P 500 Fall as New Sanctions Plan Targets Iran's Trading Partners
US Markets

Update: Nasdaq, S&P 500 Fall as New Sanctions Plan Targets Iran's Trading Partners

(Updates with market moves at the end of the day, and other changes, if any.)The Nasdaq Composite and the S&P 500 fell Monday as the US unveiled a global sanctions plan targeting countries that have an economic relationship with Iran.The Nasdaq shed 0.8% to close at 25,980.19, while the S&P 500 declined 0.3% to 7,652.86. The Dow Jones Industrial Average rose 0.3% to 53,417.16. Technology led the laggards, while most sectors were in the green, led by consumer staples.The Treasury Department on Monday launched a campaign to close all financial resources that support Iran."We are launching an economic onslaught against Iran's financial connections around the globe," Treasury Secretary Scott Bessent said in a statement. "Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone."Countries doing business with Iran will be given deadlines to shut down Iran-related activities, according to the statement. Entities aiding money laundering or sanctions evasion on behalf of Iran could be cut off from the US financial system.China, Russia, India, Pakistan, Qatar and Turkey, among others, still trade with Tehran, Axios reported."No one is above the reach of US sanctions," Bessent said Monday in response to a question at a press conference on whether the Trump administration would target Chinese banks, CNBC reported.West Texas Intermediate crude oil was down 2.3% at $85.07 a barrel in Monday late-afternoon trade, while Brent dropped 2.5% to $92.06.Iran's state-controlled Persian Gulf Strait Authority warned on X that vessels breaching its protocols in the Strait of Hormuz could face restrictions on future passages.US Treasury yields were mixed, with the 10-year yield down 3.2 basis points at 4.71%, while the two-year yield was little changed at 4.24%.Federal Reserve Chair Kevin Warsh's debut Jackson Hole speech on Friday is unlikely to help clear up investor confusion over the Treasury Department's bond market intervention, Morgan Stanley said in a note sent Monday. The firm's economists view the expansion in bond buybacks announced last week as evidence that the Treasury had become uncomfortable with a rise in long-term interest rates.Markets are currently pricing in a 58% probability that the Fed will keep its benchmark rate steady in September, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.In company news, Nvidia (NVDA) shares fell 2.9%, the worst performer on the Dow. The technology bellwether is scheduled to release its latest quarterly earnings on Wednesday.Some Nvidia customers are facing price increases of over 15% on servers equipped with its artificial intelligence chips due to rising memory costs, Bloomberg News reported Saturday, citing people familiar with the matter.Chip-related stocks were among the notable laggards on the S&P 500, with SanDisk (SNDK) down 6.5%, the second-steepest decline on the index. Micron Technology (MU), Super Micro Computer (SMCI) and Western Digital (WDC) shed more than 5% each.Marvell Technology (MRVL), CrowdStrike (CRWD), Salesforce (CRM) and Intuit (INTU) are also slated to post their results this week.Spot gold rose 1.1% to $4,654.89 per troy ounce, while silver lost 1% to $69.65 per ounce.

Dow JonesNasdaq CompositeS&P 500$CRM$CRWD$INTU$MRVL$MU$NVDA$SMCI$SNDK$WDC
Japan

US Equity Markets Mixed as Crude Oil Prices Drop Ahead of Upcoming US Economic Sanctions on Iran

US equity indexes were mixed Monday as crude oil prices dropped ahead of US economic sanctions on Iran and as President Donald Trump threatened tariffs on Canada.* The US is set to warn countries to cut ties with Iran or risk their businesses being cut off from the dollar-based financial system when it unveils the "greatest financial offensive ever" on Monday, a source told Reuters.* President Donald Trump said US tariffs on Canadian cars, trucks, auto parts and steel will rise to 50% next year, escalating trade tensions between the two countries after bilateral trade talks collapsed on Friday.* The Chicago Federal Reserve Bank's monthly National Activity Index fell to minus 0.08 in July from 0.06 in June, compared with expectations for a smaller decrease to minus 0.05 in a Bloomberg survey.* October West Texas Intermediate crude oil fell $2.04 to settle at $85.04 per barrel, while October Brent crude, the global benchmark, was last seen down $2.35 at $92.04.* Expedia (EXPE) delivered its fifth consecutive beat and raise in Q2, with full-year guidance raised on all three lines, as the business-to-consumer segment continues to see solid top-line improvement and stronger margin expansion, Wedbush Securities said Thursday. Expedia's stock was up about 5.4%, the top gainer on the S&P 500.* Among companies with market capitalizations exceeding $200 billion, seven of the bottom 10 names were from the semiconductor sector, according to data compiled by Finviz. SanDisk (SNDK) was down nearly 6.5%, the worst performer on the S&P 500 and Nasdaq. Micron Technology (MU) and Western Digital (WDC) were down roughly 5% each.

Dow JonesNasdaq CompositeS&P 500$EXPE$MU$SNDK$WDC
Japan

Update: US Equity Indexes Mixed as Chipmakers Hit Technology, Bessent Unveils Plans to Choke Iran

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes traded mixed as mega-cap semiconductor names pushed technology to the bottom of sector charts and crude oil declined after Treasury Secretary Scott Bessent unveiled a plan to sever Iran's economic lifelines.The Nasdaq Composite fell 0.7% to 25,999.1, and the S&P 500 declined 0.3% to 7,653.3 ahead of Monday's close. The Dow Jones Industrial Average bucked the intraday trend, rising 0.3% to 53,434.5.Among companies with market capitalizations exceeding $200 billion each, nine of the bottom 10 names by intraday returns were in the technology sector, according to data compiled by Finviz. Of those nine firms, seven were related to the semiconductor industry. Sandisk (SNDK) led the pack of tech decliners, down 7%.Bessent unveiled what he described as an "unprecedented" Washington campaign to sever Tehran from the global economy, warning that any state doing business with the country risks facing US sanctions."... we are launching an economic onslaught against Iran's financial connections around the globe. Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone," Secretary Bessent said Monday.Bessent said the campaign targets five sectors that Treasury identified as vital to Iran's economy: digital assets, technology, gold, aviation and shipping. Iran has condemned US plans to announce new sanctions and vowed to retaliate against any country that supports Washington, as President Masoud Pezeshkian has called for a diplomatic solution.The front-month US West Texas Intermediate crude oil contract retreated 2.1% to $85.25 per barrel, and global benchmark North Sea Brent slumped 2.2% to $92.30 per barrel.Nvidia (NVDA) customers are facing price increases of over 15% on servers equipped with its artificial intelligence chips due to rising memory costs, Bloomberg reported Saturday. Separately, Nvidia is discussing an investment in Perplexity as part of a funding round that would value the AI startup at more than $30 billion, The Information reported Sunday. Nvidia declined 3%, the Dow's worst performer.

Dow JonesNasdaq CompositeS&P 500$NVDA$SNDK

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