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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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Update: Equities Rebound Intraday as Yields Rise
US Markets

Update: Equities Rebound Intraday as Yields Rise

(Updates with latest market prices and developments.)US equities rebounded intraday following Thursday's steep losses, but Wall Street was still headed for weekly declines amid rising bond yields.The Dow Jones Industrial Average was up 0.8% at 53,169.5 after midday Friday. The S&P 500 and the Nasdaq Composite each rose 0.5% to 7,678.1 and 26,187.6, respectively. Among sectors, materials paced the gainers, while utilities saw the steepest decline.The three indexes dropped to their lowest levels in more than two weeks on Thursday.The Dow was on track for its second consecutive weekly fall, while both the S&P 500 and the Nasdaq headed toward their first weekly losses following three consecutive weekly advances.US Treasury yields were higher intraday, with the two-year yield increasing 4.5 basis points to 4.23% and the 10-year rate gaining 3.4 basis points to 4.73%. The 30-year rate was up 3.7 basis points at 5.27%."The past 24 hours saw renewed pressure in bond markets as the rally following the US Treasury's announcement on Wednesday that it would expand its buyback operations faded," Deutsche Bank said in a report.The Treasury Department earlier this week said it will at least double the size of its buybacks for longer-dated Treasuries, to $4 billion per operation.Treasury Secretary Scott Bessent told CNBC on Thursday that his department could increase its planned buybacks to more than $4 billion per issue.West Texas Intermediate crude oil was up 0.4% at $87.18 a barrel, while Brent rose 0.9% to $94.59. The benchmarks were on track to log their second consecutive weekly gains.In economic news, US private-sector output growth hit a 52-month high amid a surge in services activity, while price pressures eased and employment rose sharply, S&P Global's (SPGI) flash purchasing managers' index showed.In company news, Ross Stores (ROST) jumped 5.8% intraday as the off-price apparel and home fashion chain lifted its full-year earnings outlook on the back of stronger-than-expected fiscal second-quarter results.BJ's Wholesale Club's (BJ) fiscal second-quarter results came in ahead of Wall Street's estimates, prompting the warehouse club operator to lift its full-year earnings outlook. The stock was up 5% intraday.Walmart (WMT) was down 0.9%, the worst performer on the Dow, after a 9.2% slump in the previous session. The retailer's mixed second-quarter performance has raised questions around the trajectory of its core US business, though its new business model could drive growth in the long term, UBS said in a note.Spot gold advanced 2.4% to $4,622.94 per troy ounce, while silver climbed 2.6% to $70.70 per ounce.

Dow JonesNasdaq CompositeS&P 500$BJ$ROST$SPGI$WMT
Asia Markets

US Equity Indexes Rise as Markets Attempt Rebound After Sharp Selloff Amid Elevated Oil Prices, Treasury Yields

US equity indexes rose after midday on Friday as markets attempted to rebound following a sharp selloff in the previous session due to surging Treasury yields and oil prices.The Nasdaq Composite rose 0.5% to 26,188.4, and the S&P 500 gained 0.4% to 7,676.7. The Dow Jones Industrial Average rose 0.8% to 53,184.6. Materials and health sectors led the gainers, while utilities led the decliners.The yield on 30-year Treasuries rose 3.7 basis points to 5.274%, while the 10-year yield gained 3.4 basis points to 4.732%.The US West Texas Intermediate crude oil contract rose 0.5% to $87.28 per barrel.President Donald Trump said in a Truth Social post that he closed a deal to "substantially" lower the price of ground beef for US consumers, and will allow up to 300,000 metric tons of the commodity to be imported with no out-of-quota tariff. "We have a commitment that this beef will be sold at 25% below current market prices," according to the post.In economic news, the Bureau of Labor Statistics said the US unemployment rate fell in 10 states in July and held steady elsewhere. The largest declines were in South Carolina, Ohio, Illinois, Washington, Pennsylvania, New York, and Rhode Island, while South Dakota recorded the lowest at 2%. The national unemployment rate was reported at 4.1% in July, down from 4.2% in June.The August flash reading of manufacturing conditions from S&P Global declined to 53.2 from 53.9 in July, compared with expectations for no change in a survey compiled by Bloomberg.The index for services conditions rose to a 20-month high reading of 56.8 in August from 54.6 in July, compared with expectations for a decrease to 54.0.Gold futures gained 2.4% to $4,681.8 per ounce, and silver futures rose 2.4% to $69.75.In equity news, Ross Stores (ROST) shares rose 5.4%, a day after the company posted a fiscal Q2 beat and raise. The company reported fiscal Q2 earnings late Thursday of $2.66 per diluted share, up from $1.56 a year earlier. Analysts polled by FactSet expected $1.95. Sales for the three months ended Aug. 1 rose to $6.26 billion from $5.53 billion a year earlier. Analysts projected $6.16 billion. The company boosted its full-year EPS guidance to $8.61 to $8.77 from the prior forecast of $7.50 to $7.74. Analysts project $7.89.RF Acquisition Corp II (RFAI) shares rose nearly 200% after company shareholders approved its merger with Nanyang Biologics at an extraordinary general meeting, according to a US Securities and Exchange Commission filing.Broadcom (AVGO) shares rose 0.5% after a Bloomberg report said the company is in discussions with lenders to raise up to $100 billion in debt for an AI chip financing deal.

Dow JonesNasdaq CompositeS&P 500$AVGO$RFAI$ROST
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 0.4%.US equity indexes rose in midday trading on Friday, rebounding from a sharp sell-off in the previous session despite a further uptick in Treasury yields and firm oil prices.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each gained 0.1%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) rose 0.1%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) also advanced.The State Street SPDR S&P Semiconductor (XSD) shed 0.5%, while iShares Semiconductor (SOXX) fell 1%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 0.8%. Direxion Daily Financial Bull 3X Shares (FAS) advanced 2.4%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 2.3%.CommoditiesCrude oil eased 0.1%, and the United States Oil Fund (USO) added 0.5%. Natural gas gained 1.7%, and the United States Natural Gas Fund (UNG) climbed 0.5%.Gold on Comex rose 2.5%, and the State Street SPDR Gold Shares (GLD) gained 2.2%. Silver advanced 2.8%, and iShares Silver Trust (SLV) climbed 2.4%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 0.5%. The Vanguard Consumer Staples ETF (VDC) added 0.4%, while iShares Dow Jones US Consumer Goods (IYK) gained 0.3%.The State Street Consumer Discretionary Select Sector SPDR (XLY) rose 1.3%. VanEck Retail ETF (RTH) added 0.7%, and the State Street SPDR S&P Retail (XRT) gained 1.1%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 1.6%. iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) also gained. IShares Biotechnology ETF (IBB) added 1.9%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 0.2%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) also gained.CryptocurrencyIn midday activity, bitcoin (BTC-USD) added 6.6%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) gained 6.7%, ProShares Ether ETF (EETH) was up 3.8%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) climbed 5.4%.

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

US Equity Indexes Rise Despite Further Uptick in Treasury Yields, Firm Oil Prices

US equity indexes rose in midday trading on Friday, rebounding from a sharp-selloff in the previous session despite a further uptick in Treasury yields and still firm oil prices.The Nasdaq Composite rose 0.5% to 26,202.1, and the S&P 500 gained 0.5% to 7,682.8. The Dow Jones Industrial Average rose 0.7% to 53,175.9. Materials and the health sectors led the gainers.The yield on 30-year Treasuries rose 3.8 basis points to 5.275%, while the 10-year yield gained 3.8 basis points to 4.734%.The US West Texas Intermediate crude oil contract rose 0.09% to $86.91 per barrel.In economic news, the Bureau of Labor Statistics said that the unemployment rate fell in 10 states in July and held steady elsewhere as the national jobless rate declined to 4.1% from 4.2% in June.The August flash reading of manufacturing conditions from S&P Global declined to 53.2 from 53.9 in July, compared with expectations for no change in a survey compiled by Bloomberg.The index for services conditions rose to a 20-month high reading of 56.8 in August from 54.6 in July, compared with expectations for a decrease to 54.0.Gold futures gained 2.1% to $4,670.4 per ounce, and silver futures rose 1.9% to $69.51.In equity news, Ross Stores (ROST) shares rose 5%, a day after the company posted a Q2 beat and raise. The company reported fiscal Q2 earnings late Thursday of $2.66 per diluted share, up from $1.56 a year earlier. Analysts polled by FactSet expected $1.95. Revenue for the three months ended Aug. 1 rose to $6.26 billion from $5.53 billion a year earlier. Analysts projected $6.16 billion. The company boosted its full-year EPS guidance to $8.61 to $8.77 from the prior forecast of $7.50 to $7.74. Analysts project $7.89.Broadcom (AVGO) shares rose nearly 1% after a Bloomberg report revealed that the company is in discussions with lenders to raise up to $100 billion in debt for an AI chip financing deal.

Dow JonesNasdaq CompositeS&P 500$AVGO$ROST
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday as Bitcoin Moves Past $77,000

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.7% higher in Friday's premarket activity as Bitcoin moved past $77,000 in one of its best weeks.US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.6%, and Nasdaq futures gaining 0.8% before the start of regular trading.The S&P Global flash Composite Purchasing Managers' Index for August will be released at 9:45 am ET.In premarket activity, bitcoin was up by 5.5%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 6% higher, Ether ETF (EETH) advanced 2.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.02% lower.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.2%, while the iShares US Healthcare ETF (IYH) advanced 3.3%. The iShares Biotechnology ETF (IBB) was 0.6% higher.Aveanna Healthcare (AVAH) stock was down more than 3% premarket after the company said Thursday that selling stockholders priced a secondary public offering of 15 million common shares at $11.75 apiece.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.9%, while the Vanguard Industrials Index Fund (VIS) was up 1.4%, and the iShares US Industrials ETF (IYJ) was flat.GE Vernova (GEV) stock was up nearly 2% before the opening bell after the company said it was selected by Quinbrook for the third stage of the Supernode battery energy storage project in Queensland, Australia, expanding its technology role across all three stages of the development.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.2%, and the iShares US Consumer Staples ETF (IYK) advanced 0.1%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased 0.6%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.9% higher.Tesla (TSLA) shares were up more than 1% pre-bell, following a 1.7% retreat in the previous session. China's State Administration for Market Regulation said the EV-maker is recalling more than 5.7 million vehicles in China over two separate safety issues involving emergency door handles and driver-attention monitoring.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.2% lower.KKR (KKR), alongside Dragoneer Investment Group (DGNR) and insurance distributor Amwins, has agreed to acquire Steadfast Group in a deal worth approximately 7.7 billion Australian dollars ($5.52 billion). Shares of KKR were up more than 1% premarket.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.8%, the iShares US Technology ETF (IYW) was 0.9% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased 1.3%, while the iShares Semiconductor ETF (SOXX) rose by 1.6%.Broadcom (AVGO) shares were up more than 1% in premarket activity after Bloomberg News reported late Thursday that the company is in discussions with a group of lenders to raise as much as $100 billion in debt for an artificial intelligence chip financing deal.EnergyThe iShares US Energy ETF (IYE) gained 0.8%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.1%.Vistra (VST) stock was up more than 1% before market open after Morgan Stanley lifted its price target to $227 from $212.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.2% to reach $86.99 per barrel on the New York Mercantile Exchange. Natural gas was up 1% at $2.76 per 1 million British Thermal Units. The United States Oil Fund (USO) increased 0.6%, while the United States Natural Gas Fund (UNG) was 0.6% higher.Gold futures for November advanced by 1.3% to $4,628.70 an ounce on the Comex. Silver futures rose 1.8% to $70.14 an ounce. SPDR Gold Shares (GLD) gained 1.1%, and the iShares Silver Trust (SLV) was 1.7% higher.

Dow JonesNasdaq CompositeS&P 500$AVAH$AVGO$BETH$BITO$DGNR$EEM$EETH$EXI$FAS$FAZ$GEV$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$KKR$PMR$QQQ$RTH$SLV$SOXX$SPY$TSLA$UNG$USO$VDC$VHT$VIS$VST$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

Update: US Equity Futures Higher Pre-Bell as Traders Try to Rebound After Yield-Induced Sell-Off

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging higher pre-bell Friday as traders moved to recover after a losing session on Wall Street as Treasury yields continued to rise.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 0.7% higher.Iran said that it would have a "devastating" response to any new US threats, Reuters reported Friday. US Treasury Secretary Scott Bessent said he would give more details on Monday regarding the planned "toughest sanctions in history" on Iran.President Donald Trump said that he had closed a deal to "substantially" lower the price of ground beef for US consumers and will allow up to 300,000 metric tons of the commodity to be imported with no out-of-quota tariff. "We have a commitment that this beef will be sold at 25 percent below current market prices," Trump said in a post on Truth Social.Oil prices were slightly higher, with front-month global benchmark North Sea Brent crude up 0.3% at $94.04 per barrel and US West Texas Intermediate crude 0.2% higher at $86.97 per barrel.The August S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen at 54.0, down from 54.5 previously, according to estimates compiled by Bloomberg.In other world markets, Japan's Nikkei closed 0.3% lower, Hong Kong's Hang Seng ended 1.2% higher, and China's Shanghai Composite finished flat. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.In equities, Broadcom (AVGO) shares rose 1.3% after a Bloomberg report that the company is in discussions with a group of lenders to raise as much as $100 billion in debt for an artificial intelligence chip financing deal. SK Hynix (SKHY) stock was up 2.6% after a report from news outlet Hankyoreh that the company is moving forward with construction of a memory chip fab in the northeastern Japanese prefecture of Miyagi. Ross Stores (ROST) shares were 7.5% higher after the company reported on late Thursday better-than expected fiscal Q2 earnings and revenue, as well as boosted its full-year EPS guidance.On the losing side, OSI Systems (OSIS) stock was down 9.6% after the company on late Thursday posted fiscal Q4 revenue that missed analysts' consensus estimates.

Dow JonesNasdaq CompositeS&P 500$AVGO$OSIS$ROST$SKHY
Stocks Rise Pre-Bell as Investors Eye Recovery Following Sharp Selloff
US Markets

Stocks Rise Pre-Bell as Investors Eye Recovery Following Sharp Selloff

The benchmark US stock measures were tracking in the green before the open Friday following a sharp selloff in the previous session, when Treasury yields climbed despite the government's efforts to ease pressure in the bond market.The S&P 500 and the Dow Jones Industrial Average rose 0.3% each in premarket activity, while the Nasdaq added 0.6%. The Dow ended the previous session with its lowest close since July 31, while the S&P 500 and Nasdaq finished at their lowest levels since Aug. 3.Treasury yields were trending higher in premarket action, with the two-year rate increasing 0.4 basis points to 4.19% and the 10-year rate gaining 0.2 basis points to 4.7%. The 30-year rate was up 0.7 basis points to 5.24%.Treasury Secretary Scott Bessent told CNBC in an interview on Thursday that his department could increase its planned buybacks of longer-dated Treasuries to more than $4 billion per issue."Part of it is signaling here and to show that we believe that the yields don't reflect the underlying fundamentals," Bessent said.The Treasury Department earlier this week said it will at least double the size of its buybacks for longer-dated Treasuries, to $4 billion per operation."The $4 billion size of the buybacks is vanishingly small relative to the size of the US treasury market but is a loud symbolic signal that the Treasury does not want higher yields," Saxo Bank said in a report Thursday. "Shaping the yield curve and buying treasuries is normally a policy area for the (Federal Reserve), so it sets up an interesting tension with Fed Chair Kevin Warsh, who will speak at next week's Fed symposium at Jackson Hole, Wyoming."West Texas Intermediate crude oil nudged up to $86.83 a barrel before the opening bell, while Brent dipped 0.1% to $93.70.Bessent also told CNBC on Thursday that the US is looking to implement the "toughest sanctions in history" against Iran. Earlier in the week, President Donald Trump threatened to launch "economic warfare" against Iran and financial consequences for countries that seek to provide any form of support to Tehran.Shares of Walmart (WMT) fell 0.2% pre-bell after the retail giant closed Thursday trading down 9.2% as fiscal second-quarter US comparable sales growth decelerated more than Wall Street expected, while the company issued a soft earnings outlook for the ongoing three-month period.Ross Stores (ROST) jumped nearly 8% as the off-price apparel and home fashion chain lifted its full-year earnings outlook on the back of stronger-than-expected fiscal second-quarter results. Flowers Foods (FLO) fell 3.7% as the packaged bakery food producer cut its fiscal 2026 outlook amid a challenging operating environment.KE Holdings (BEKE), BJ's Wholesale Club (BJ) and Buckle (BKE) are scheduled to report their latest financial results before the bell, among others.Friday's economic calendar has the S&P Global's (SPGI) flash purchasing managers' index for August at 9:45 am ET, followed by the weekly Baker Hughes oil-and-gas rig count at 1 pm.Gold inclined 1.7% to $4,650 per troy ounce, while bitcoin climbed 7.1% to $77,811.

Dow JonesNasdaq CompositeS&P 500$BEKE$BJ$BKE$FLO$ROST$WMT
Japan

US Equity Futures Higher Pre-Bell as Traders Try to Rebound After Yield-Induced Sell-Off

US equity futures were edging higher pre-bell Friday as traders moved to recover after a losing session on Wall Street as Treasury yields continued to rise.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 0.8% higher.Iran said that it would have a "devastating" response to any new US threats, Reuters reported Friday. US Treasury Secretary Scott Bessent said he would give more details on Monday regarding the planned "toughest sanctions in history" on Iran.President Donald Trump said that he had closed a deal to "substantially" lower the price of ground beef for US consumers and will allow up to 300,000 metric tons of the commodity to be imported with no out-of-quota tariff. "We have a commitment that this beef will be sold at 25 percent below current market prices," Trump said in a post on Truth Social.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.3% at $93.49 per barrel and US West Texas Intermediate crude 0.3% lower at $86.59 per barrel.The August S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen at 54.0, down from 54.5 previously, according to estimates compiled by Bloomberg.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Stable Bond Yields, Oil Prices Lift Wall Street Pre-Bell; Asia, Europe up

Wall Street futures pointed moderately higher pre-bell Friday as bond yields and crude prices largely stabilized, easing concerns that interest rates and energy bills will track even higher.In the futures, the S&P 500 rose 0.3%, the Nasdaq inclined 0.6% and the Dow Jones was up 0.4%.Traders await the S&P Global flash US purchasing managers index (PMI) report for August at 9:45 am ET, for insights into how the private sector is responding to higher energy bills and debt charges.The VanEck Semiconductor fund (SMH) rose 1.1% in morning hours, indicating a "risk-on" mood for tech shares.West Texas Intermediate crude oil futures traded up 0.2% at $87.02.Asian exchanges traded mixed on the high side overnight, while European bourses edged north midday on the continent.Ross Stores (ROST) traded up 8.1% pre-bell after the budget-clothing chain reported fiscal Q2 results above expectations, and boosted guidance, late Thursday.On the economic calendar, in addition to the PMI report, is the weekly Baker Hughes oil-and-gas rig count at 1 pm.In pre-market action, Bitcoin traded at $77,902, and 10-year US Treasuries offered 4.70%. Spot gold commanded $4,588 an ounce.

Dow JonesNasdaq CompositeS&P 500
Update: Equities Drop to Lowest in More Than 2 Weeks as Yields Rise
US Markets

Update: Equities Drop to Lowest in More Than 2 Weeks as Yields Rise

(Updates with market moves at the end of the day, and other changes, if any.)US equity indexes dropped to their lowest levels in more than two weeks on Thursday as bond yields rose despite the Treasury Department's intervention in the bond market.The Dow Jones Industrial Average fell 1.3% to 52,759.21, its lowest close since July 31. The Nasdaq Composite shed 1% to 26,067.17, while the S&P 500 lost 0.9% to 7,641.16 -- both logging their lowest finish since Aug. 3.Except energy and real estate, all sectors ended in the red, led by consumer staples and healthcare.US Treasury yields were higher, with the 10-year yield up 4.9 basis points at 4.7% and the two-year yield rising 0.6 basis point to 4.19%. The 30-year rate advanced 5.5 basis points to 5.25%.The Treasury Department said Wednesday it will at least double the size of its buybacks for longer-dated Treasuries, to $4 billion per operation. The announcement eased pressure on long-term yields that day.Treasury Secretary Scott Bessent told CNBC on Thursday that the buybacks could be worth more than $4 billion per issue."The $4 billion size of the buybacks is vanishingly small relative to the size of the US treasury market but is a loud symbolic signal that the Treasury does not want higher yields," Saxo Bank said in a report Thursday. "Shaping the yield curve and buying treasuries is normally a policy area for the (Federal Reserve), so it sets up an interesting tension with Fed Chair Kevin Warsh, who will speak at next week's Fed symposium at Jackson Hole, Wyoming."US government debt surpassed $40 trillion for the first time, multiple outlets reported Wednesday, citing Treasury Department data.West Texas Intermediate crude oil climbed 2.3% to $87.83 a barrel in Thursday late-afternoon trade, while Brent rose 2.1% to $93.51.US President Donald Trump on Wednesday threatened "economic warfare" against Iran, announcing economic consequences for countries that seek to provide any form of support to Tehran.A 60-day ceasefire between the two countries expired Monday.In corporate news, Walmart (WMT) shares slumped 9.2%, the worst performer on the Dow and the second-biggest fall on the S&P 500, after the retail giant issued third-quarter earnings guidance below analysts' expectations.Nordson (NDSN) jumped 8%, the best performer on the S&P 500, after lifting its fiscal 2026 outlook.Deere's (DE) shares advanced 6.9%, the third-biggest gain on the S&P 500, after the company raised the lower ends of its net income and cash flow guidance ranges, citing a strong fourth-quarter order book.Shares of Moderna (MRNA) slid about 24%, the steepest drop on the S&P 500, following a 177% jump at the close of the previous trading session. The drugmaker and Merck (MRK) announced positive topline results from a late-stage trial of an experimental skin cancer treatment on Wednesday.Spot gold ticked up 0.2% to $4,523 per troy ounce, while silver rose 3.8% to $69.09 per ounce.

Dow JonesNasdaq CompositeS&P 500$DE$MRK$MRNA$NDSN$WMT
Asia Markets

US Equity Indexes Fall After Trump Warns of Severe Economic Actions Against Iran, Driving Up Oil Prices, Bond Yields

US equity indexes fell on Thursday as bond yields and oil prices surged after President Donald Trump warned of severe economic sanctions against Iran, and any country that offers a lifeline to the Middle-East nation.Iran's Foreign Minister Seyed Abbas Araghchi dismissed Trump's warning in an X post, calling it a diversion from America's challenges of "unprecedented debt & surging interest costs."Bond yields continued to rise despite Treasury Secretary Scott Bessent stating that the buyback of long-dated government debt, announced yesterday, could exceed $4 billion per operation, CNBC reported Thursday, citing an interview with the official.The Nasdaq Composite fell 1% to 26,067.1, and the S&P 500 declined 0.8% to 7,641.6. The Dow Jones Industrial Average shed 1.3% to 52,762.3. Energy and real estate sectors led the gainers, while consumer staples and health led the decliners.The yield on 30-year Treasuries rose 5.4 basis points to 5.248%, while the 10-year yield gained 4.9 basis points to 4.702%.Gold futures gained 0.9% to $4,587.4 per ounce, and silver futures rose 3.9% to $68.43.In economic news, the Conference Board's measure of leading indicators rose by 0.2% in July, a larger gain than the 0.1% increase expected in a survey compiled by Bloomberg, and following a 0.1% decrease in June.The Conference Board highlighted that economic growth is expected to be driven by investments in AI, while consumer spending could slump due to the higher cost of living.The Philadelphia Federal Reserve's monthly manufacturing index rose to 47.4 in August, compared with 41.4 in July and an anticipated decrease to 24.1 according to a survey compiled by Bloomberg.According to the Labor Department, US initial jobless claims declined to 206,000 in the week ended Aug. 15 from the upwardly revised 212,000 level in the week earlier, and lower than 210,000 expected in a survey of analysts compiled by Bloomberg.US natural gas stocks rose by 16 billion cubic feet in the week ended Aug. 14, higher than the 15 billion gain expected in a survey compiled by Bloomberg and following an increase of 36 billion cubic feet in the week prior.The US West Texas Intermediate crude oil contract rose 2.7% to $88.15 per barrel.In company news, SpaceX (SPCX) shares fell 4% on Thursday after around 319 million early-investor shares of the company became eligible to trade today. The company also approached Cognition AI for a potential acquisition, but there are currently no active deal talks between them, Bloomberg reported late Wednesday, citing people familiar with the matter.Walmart (WMT) shares fell 9.1% on Thursday after its fiscal 2027 adjusted EPS guidance missed analyst expectations. The company reported fiscal Q2 adjusted earnings of $0.81 per share, up from $0.68 a year earlier and above the FactSet estimate of $0.74. Revenue was $187.94 billion, up from $177.40 billion a year ago and above the FactSet estimate of $186.62 billion. For fiscal 2027, Walmart expects adjusted EPS of $2.80 to $2.87, up from $2.75 to $2.85 earlier, but below the FactSet estimate of $2.90.Moderna (MRNA) shares fell 23.5% following a 177% jump at the close of the previous trading session. The drugmaker and Merck (MRK) announced positive topline results from a late-stage trial of an experimental skin cancer treatment on Wednesday.

Dow JonesNasdaq CompositeS&P 500$MRK$MRNA$SPCX$WMT
Japan

US Equity Markets End Lower After Crude Oil, Bond Yields Rise Following Trump's New Iran Threats

US equity indexes ended lower Thursday after bond yields and oil prices rose following President Donald Trump's threat of extreme economic measures against Iran and any country that supports it.* Iran's Foreign Minister Seyed Abbas Araghchi dismissed Trump's warning in an X post, describing it as a diversion from America's challenges of "unprecedented debt & surging interest costs."* US initial jobless claims fell to 206,000 in the week ended Aug. 15, from an upwardly revised 212,000 in the week earlier, and were lower than the 210,000 expected in an analyst survey by Bloomberg.* US natural gas stocks rose by 16 billion cubic feet in the week ended Aug. 14, higher than the 15 billion cf gain expected in a survey compiled by Bloomberg and following an increase of 36 billion cubic feet in the week prior.* September West Texas Intermediate crude oil rose $2.32 to settle at $88.15 per barrel, while October Brent crude, the global benchmark, was last seen up $1.91 at $93.52.* Nordson (NDSN) shares were up about 8%, the best performer on the S&P 500, after the company raised its fiscal 2026 outlook.* Walmart's (WMT) stock was down about 9.2%, the worst performer on the Nasdaq and Dow, after fiscal Q2 US comparable sales growth decelerated more than Wall Street expected amid a pharmacy-related headwind, while the retail giant issued a soft earnings outlook for the ongoing quarter.

Dow JonesNasdaq CompositeS&P 500$NDSN$WMT
Japan

US Equity Indexes Fall as Oil Prices Increase After Trump Vows Economic Warfare Against Iran

US equity indexes fell ahead of the close on Thursday as bond yields and oil prices surged after President Donald Trump warned of extreme economic actions against Iran and any country that supports or conducts business with the Middle East nation.Bond yields continued to rise despite Treasury Secretary Scott Bessent stating that the buyback of long-dated government debt, which was announced yesterday, could exceed $4 billion, CNBC reported Thursday, citing an interview with the official.Iran's Foreign Minister Seyed Abbas Araghchi dismissed Trump's warning in an X post, describing it as a diversion from America's challenges of "unprecedented debt & surging interest costs." US debt surpassed $40 trillion, having more than doubled in less than a decade.The Nasdaq Composite fell 0.9% to 26,074.8, and the S&P 500 declined 0.7% to 7,654.38. The Dow Jones Industrial Average shed 1.1% to 52,849.6. Real estate and energy sectors led the gainers, while consumer staples and health led the decliners.The yield on 30-year Treasuries rose 3.9 basis points to 5.23%, while the 10-year yield gained 3.9 basis points to 4.69%.Gold futures gained 0.9% to $4,584.80 per ounce, and silver futures rose 3.6% to $68.96.In economic news, the Conference Board's measure of leading indicators rose by 0.2% in July, a larger gain than the 0.1% increase expected in a survey compiled by Bloomberg, and following a 0.1% decrease in June.According to the Labor Department, US initial jobless claims fell to 206,000 in the week ended Aug. 15, from an upwardly revised 212,000 in the week earlier, and were lower than the 210,000 expected in a survey of analysts compiled by Bloomberg.US natural gas stocks rose by 16 billion cubic feet in the week ended Aug. 14, higher than the 15 billion gain expected in a survey compiled by Bloomberg and following an increase of 36 billion cubic feet in the week prior.The US West Texas Intermediate crude oil contract rose 2.7% to $88.15 per barrel.In company news, SpaceX (SPCX) approached Cognition AI for a potential acquisition, but there are currently no active deal talks between the companies. SpaceX and the AI coding startup are also exploring a collaboration, Bloomberg reported late Wednesday, citing people familiar with the matter. SpaceX shares were down 5%.Walmart (WMT) shares fell 9.7% in Thursday trading after its fiscal 2027 adjusted EPS guidance missed analyst expectations. The company reported fiscal Q2 adjusted earnings of $0.81 per share, up from $0.68 a year earlier and above the FactSet estimate of $0.74. Revenue was $187.94 billion, up from $177.40 billion a year ago and above the FactSet estimate of $186.62 billion. For fiscal 2027, Walmart expects adjusted EPS of $2.80 to $2.87, up from $2.75 to $2.85 earlier, but below the FactSet estimate of $2.90.

Dow JonesNasdaq CompositeS&P 500$SPCX$WMT
Update: Equities Fall Intraday as Yields Rise Despite Treasury Buyback Plan
US Markets

Update: Equities Fall Intraday as Yields Rise Despite Treasury Buyback Plan

(Updates with latest market prices and developments.)US benchmark equity indexes fell intraday as bond yields rose, a day after the Treasury Department announced an accelerated debt buyback program.The Nasdaq Composite and the Dow Jones Industrial Average were down 0.9% each after midday Thursday, at 26,104.1 and 52,973.6, respectively. The S&P 500 lost 0.5% to 7,668.6. The indexes ended Wednesday in the green following a three-day slump.Most sectors were in the red intraday Thursday, led by consumer discretionary, while energy gained the most.US Treasury yields were higher, with the 10-year yield up 4.9 basis points at 4.7% and the two-year yield rising 1.5 basis points to 4.19%. The 30-year rate advanced 4.7 basis points to 5.24%.The Treasury Department said Wednesday it will at least double the size of its buybacks for longer-dated Treasuries, to $4 billion per operation. The announcement eased pressure on long-term yields on Wednesday.Treasury Secretary Scott Bessent told CNBC on Thursday that the buybacks could be worth more than $4 billion per issue."The $4 billion size of the buybacks is vanishingly small relative to the size of the US treasury market but is a loud symbolic signal that the Treasury does not want higher yields," Saxo Bank said in a report Thursday. "Shaping the yield curve and buying treasuries is normally a policy area for the (Federal Reserve), so it sets up an interesting tension with Fed Chair Kevin Warsh, who will speak at next week's Fed symposium at Jackson Hole, Wyoming."US government debt surpassed $40 trillion for the first time, multiple outlets reported Wednesday, citing Treasury Department data.West Texas Intermediate crude oil climbed 2.3% to $87.80 a barrel, while Brent rose 1.8% to $93.31. The benchmarks were on track for their fifth straight day of gains.US President Donald Trump on Wednesday threatened "economic warfare" against Iran, announcing economic consequences for countries that seek to provide any form of support to Tehran.A 60-day ceasefire between the two countries expired Monday.In corporate news, Walmart (WMT) shares fell 8.7% intraday, the worst performer on the Dow and the second-biggest fall on the S&P 500, after the retail giant issued third-quarter earnings guidance below analysts' expectations.Deere's (DE) shares jumped 8%, the biggest gain on the S&P 500, after the company raised the lower ends of its net income and cash flow guidance ranges, citing a strong fourth-quarter order book.Nordson (NDSN) climbed 7.1%, the third-best performer on the S&P 500, after lifting its fiscal 2026 outlook.Shares of Moderna (MRNA) slid 25%, the steepest drop on the S&P 500, following a 177% jump at the close of the previous trading session. The drugmaker and Merck (MRK) announced positive topline results from a late-stage trial of an experimental skin cancer treatment on Wednesday.Spot gold ticked down 0.2% to $4,508.62 per troy ounce, while silver rose 3.7% to $69.04 per ounce.

Dow JonesNasdaq CompositeS&P 500$DE$MRK$MRNA$NDSN$WMT
Asia Markets

US Equity Indexes Fall as Oil Prices Rise After Trump's 'Economic D-Day' Warning to Iran

US equity indexes fell after midday trading on Thursday as bond yields and oil prices surged after President Donald Trump threatened the "most crushing economic operation" on Iran, while also warning of consequences for countries that support or conduct business with Iran.The bond yield reversal comes a day after the US Treasury decided to boost repurchases of long-dated government debt to $4 billion per operation from September. Treasury Secretary Scott Bessent said the buyback program could exceed $4 billion, and US plans to mount economic pressure on Iran will likely negate the need for further military action, CNBC reported Thursday, citing an interview with the official.The Nasdaq Composite fell 0.9% to 26,093.6, the S&P 500 declined 0.5% to 7,667.7, and the Dow Jones Industrial Average shed 0.9% to 52,955.2. The energy and real estate sectors led the gainers, while consumer discretionary and consumer staples led the decliners.The yield on 30-year Treasuries rose 5.4 basis points to 5.248%, while the 10-year yield gained 4.9 basis points to 4.702%.Gold futures gained 0.4% to $4,565.2 per ounce, and silver futures rose 3.6% to $68.24.In economic news, the Conference Board's measure of leading indicators rose by 0.2% in July, a larger gain than the 0.1% increase expected in a survey compiled by Bloomberg, and following a 0.1% decrease in June.The Conference Board highlighted that economic growth is likely to be driven by investments in AI, while consumer spending is forecast to slow down due to the higher living costs.The Philadelphia Federal Reserve's monthly manufacturing index rose to 47.4 in August, compared with 41.4 in July and an anticipated decrease to a 24.1 print in a survey compiled by Bloomberg.According to the Labor Department, US initial jobless claims fell to 206,000 in the week ended Aug. 15 from an upwardly revised 212,000 in the week earlier, and lower than the 210,000 expected in a survey of analysts compiled by Bloomberg.US natural gas stocks rose by 16 billion cubic feet in the week ended Aug. 14, higher than the 15 billion gain expected in a survey compiled by Bloomberg and following an increase of 36 billion cubic feet in the week prior.The US West Texas Intermediate crude oil contract rose 1.9% to $87.52 per barrel.In company news, SpaceX (SPCX) approached Cognition AI about a potential acquisition, Bloomberg reported Wednesday, citing people familiar with the matter. There are currently no active deal talks between SpaceX and the AI coding startup, but they continue to discuss a potential collaboration, per the report. SpaceX shares were down 5.9%.Walmart (WMT) shares fell 8.8% on Thursday after its fiscal 2027 adjusted EPS guidance fell short of analysts' expectations. The company reported fiscal Q2 adjusted earnings of $0.81 per share, up from $0.68 a year earlier and above the FactSet estimate of $0.74. Revenue was $187.94 billion, up from $177.40 billion a year ago and above the FactSet estimate of $186.62 billion. For fiscal 2027, Walmart expects adjusted EPS of $2.80 to $2.87, up from $2.75 to $2.85 earlier, but below the FactSet estimate of $2.90.

Dow JonesNasdaq CompositeS&P 500$SPCX$WMT
Asia Markets

Exchange-Traded Funds Fall as US Equities Decline After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) fell 0.5%.US equity indexes were lower after midday Thursday as bond yields and oil prices rose after President Donald Trump threatened economic warfare on Iran and its trade partners.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each rose about 0.7%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) eased slightly; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) also declined.The State Street SPDR S&P Semiconductor (XSD) shed 1.6%, while iShares Semiconductor (SOXX) added 0.2%.FinancialThe State Street Financial Select Sector SPDR (XLF) eased 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.7%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 0.8%.CommoditiesCrude oil rose 2.4%, and the United States Oil Fund (USO) added 2.4%. Natural gas slipped 3.2%, and the United States Natural Gas Fund (UNG) was down 1.6%.Gold on Comex rose 0.4%, and the State Street SPDR Gold Shares (GLD) was down 0.1%. Silver gained 3.7%, and iShares Silver Trust (SLV) was up 2.7%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) was down 0.8%. The Vanguard Consumer Staples ETF (VDC) fell 1.8%, while iShares Dow Jones US Consumer Goods (IYK) added 0.5%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was down 1.4%. VanEck Retail ETF (RTH) fell 2.1%, and the State Street SPDR S&P Retail (XRT) shed 2.1%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) shed 0.8%. iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were lower as well. IShares Biotechnology ETF (IBB) fell 2.4%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) lost 0.8%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) added 5.3%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) gained 6.3%, ProShares Ether ETF (EETH) was up 11.6%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) climbed 6.9%.

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

US Equity Indexes Fall in Midday Trading as Bond Yields, Oil Prices Rise Despite Treasury Intervention

US equity indexes fell during midday trading on Thursday as bond yields and oil prices rose after President Donald Trump threatened economic warfare on Iran and its trade partners in a late Wednesday Truth Social post.The bond yield reversal comes a day after the US Treasury decided to boost repurchases of long-dated government debt to $4 billion per operation from Sept. 9 through Nov. 4.The Nasdaq Composite fell 0.8% to 26,120.8, and the S&P 500 declined 0.4% to 7,677.9. The Dow Jones Industrial Average shed 0.8% to 53,007.4. Energy and materials led the gainers, while consumer discretionary and consumer staples led the decliners.The yield on 30-year Treasuries rose 4.8 basis points to 5.242%, while the 10-year yield gained 4.7 basis points to 4.7%.Gold futures gained 0.4% to $4,565.6 per ounce, and silver futures rose 3.4% to $68.09.In economic news, the Conference Board's measure of leading indicators rose by 0.2% in July, a larger gain than the 0.1% increase expected in a survey compiled by Bloomberg, and following a 0.1% decrease in June.The Philadelphia Federal Reserve's monthly manufacturing index rose to 47.4 in August, compared with 41.4 in July and an anticipated decrease to a 24.1 print in a survey compiled by Bloomberg.According to the US Labor Department, US initial jobless claims fell to 206,000 in the week ended Aug. 15 from an upwardly revised 212,000 in the week earlier, and lower than 210,000 expected in a survey of analysts compiled by Bloomberg.US natural gas stocks rose by 16 billion cubic feet in the week ended Aug. 14, higher than the 15 billion gain expected in a survey compiled by Bloomberg and following an increase of 36 billion cubic feet in the week prior.The US West Texas Intermediate crude oil contract rose 2.4% to $87.94 per barrel.In company news, SpaceX (SPCX) approached Cognition AI about a potential takeover, Bloomberg reported late Wednesday, citing people familiar with the matter. There are currently no active deal talks between SpaceX and the AI coding startup, but they continue to discuss a potential partnership, per the report. SpaceX shares were down 6%.

Dow JonesNasdaq CompositeS&P 500$SPCX
Commodities

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Thursday Amid Renewed Inflation Concerns

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.5% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.6% in Thursday's premarket activity as rising bond yields and a jump in oil prices renewed inflation concerns.US stock futures were mixed, with S&P 500 Index futures down 0.03%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.1% before the start of regular trading.In premarket activity, bitcoin was up by 4.9%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.8% higher, Ether ETF (EETH) advanced 8.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 3.8%.US initial jobless claims fell to a level of 206,000 in the employment survey week ended Aug. 15 from an upwardly revised 212,000 level in the previous week, compared with expectations for a level of 210,000 in survey of analysts compiled by Bloomberg as of 7:30 am ET.The Philadelphia Federal Reserve's monthly manufacturing index rose to 47.4 in August after advancing to 41.4 in July, compared with expectations for a decrease to a reading of 24.8 in a survey compiled by Bloomberg.Leading indicators data for July will be released at 10 am ET, followed by weekly natural gas stocks at 10:30 am ET.St. Louis Fed President Alberto Musalem is scheduled to speak Thursday.Power Play:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.7%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.8% higher.Strategy (MSTR) stock was up more than 10%, Coinbase Global (COIN) shares were up more than 6%, and Circle Internet Group (CRCL) was up 4% as Bitcoin rose above $71,000, continuing its advance from the previous day.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.4%, the Vanguard Health Care Index Fund (VHT) was down 0.6%, while the iShares US Healthcare ETF (IYH) gained 0.9%. The iShares Biotechnology ETF (IBB) was 0.9% lower.Moderna (MRNA) shares were down 7% following a 177% rise at the prior close as a late-stage trial for a skin cancer treatment being developed in partnership with Merck (MRK) yielded positive topline results. Merck was 1% lower after a 13% rise at Wednesday's close.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 1.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 1.1% lower, and the iShares US Consumer Staples ETF (IYK) retreated 0.04%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 1%. The VanEck Retail ETF (RTH) declined 1.5%, while the State Street SPDR S&P Retail ETF (XRT) fell 1.4%.Walmart (WMT) shares were down more than 6% pre-bell after the company's fiscal Q3 guidance trailed analyst expectations.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.7%, the iShares US Technology ETF (IYW) was 0.1% lower, and the iShares Expanded Tech Sector ETF (IGM) was down 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) retreated 1.1%, while the iShares Semiconductor ETF (SOXX) fell more than 1%.Palo Alto Networks (PANW) shares were down more than 2% in premarket activity after a 3.8% fall at the prior close. The company and NTT DATA said they have signed a multiyear alliance targeting $1 billion in joint business by the end of 2029 to support organizations' adoption of artificial intelligence and modernization of cybersecurity.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.5%, the Vanguard Industrials Index Fund (VIS) was down 0.1%, and the iShares US Industrials ETF (IYJ) was inactive.Navios Maritime Partners (NMM) stock was up more than 1% before the opening bell after the company reported higher Q2 adjusted earnings and revenue.EnergyThe iShares US Energy ETF (IYE) gained 0.5%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1%.ExxonMobil (XOM) stock was up more than 1% before market open. Bloomberg reported, citing a company presentation, that ExxonMobil warned that Kazakhstan's Tengiz oil field is nearing peak production and that output will fall sharply over the coming decade.CommoditiesFront-month US West Texas Intermediate crude oil rose by 3.7% to $89 per barrel on the New York Mercantile Exchange. Natural gas was down 2% at $2.76 per 1 million British Thermal Units. The United States Oil Fund (USO) increased 3.5%, while the United States Natural Gas Fund (UNG) was 0.6% lower.Gold futures for November were down by 0.7% at $4,514.70 an ounce on the Comex. Silver futures gained 0.7% to reach $67.03 an ounce. SPDR Gold Shares (GLD) declined 1%, and the iShares Silver Trust (SLV) was 0.1% lower.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$COIN$CRCL$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MRK$MRNA$MSTR$NMM$PANW$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$WMT$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XOM$XRT$XSD
Asia Markets

Update: US Equity Futures Fall Pre-Bell as US Threatens Iran's Trade Partners

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Thursday as traders monitored the situation in the Middle East, with the US announcing further economic pressure on Iran and threatening its trade partners.Dow Jones Industrial Average futures were 0.7% lower, S&P 500 futures were down 0.5%, and Nasdaq futures were 0.8% lower.President Donald Trump said that Iran will be subject to economic warfare "on an unprecedented scale," while also threatening economic consequences on any country that assists or does business with the Middle Eastern nation. "Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies - It all needs to stop NOW," Trump said in a post on Truth Social.Iran's Foreign Minister Seyed Abbas Araghchi in a post on X dismissed Trump's threat, calling it a diversion from America's challenges of "unprecedented debt & surging interest costs."Traders assessed the latest round of earnings, with Walmart (WMT) posting higher fiscal Q2 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3% at $94.33 per barrel and US West Texas Intermediate crude 3.5% higher at $87.35 per barrel.Initial jobless claims fell to 206,000 in the week ended Aug. 15 from 212,000 in the previous week, compared with expectations for a decrease to 210,000. The Philadelphia Federal Reserve's monthly manufacturing index rose to 47.4 in August from 41.4 in July, compared with expectations for a drop to a reading of 24.8.July's leading indicators data is scheduled to be released 10 am ET.In other world markets, Japan's Nikkei closed 1.4% higher, Hong Kong's Hang Seng ended 0.8% higher, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was down 0.5%, and Germany's DAX index was 0.6% lower in Europe's early afternoon session.In equities, SK hynix (SKHY) stock was up 1.8% after The Korea Herald reported that the company and its labor union reached a tentative agreement to pay 60% of the chipmaker's profit-sharing bonuses in company shares. Shares of Exxon Mobil (XOM), Shell (SHEL), and TotalEnergies (TTE) were on the upswing as oil prices jumped. Exxon Mobil stock was up 1.8%, Shell shares rose 1.5%, and TotalEnergies stock was 2.3% higher.On the losing side, Walmart shares fell 6.6% after the company's fiscal Q3 adjusted EPS outlook fell short of analysts' consensus. Alibaba Group (BABA) stock was down 5.8% after the company reported lower-than-expected fiscal Q1 non-GAAP earnings. CrowdStrike (CRWD) shares were 3% lower after the company's global Chief Technology Officer Elia Zaitsev said in a LinkedIn post that he has stepped down from his role to launch an early-stage venture capital fund focused on cybersecurity.

Dow JonesNasdaq CompositeS&P 500$BABA$CRWD$SHEL$SKHY$TTE$WMT$XOM
Stocks Rise Pre-Bell Following Treasury's Bond Market Intervention; Trump Announces 'Economic Warfare' Against Iran
US Markets

Stocks Rise Pre-Bell Following Treasury's Bond Market Intervention; Trump Announces 'Economic Warfare' Against Iran

US equity futures were trending higher on Thursday following the Treasury Department's move to intervene in the bond market, while investors assess President Donald Trump's announcement of tougher economic measures against Iran.The S&P 500 rose 0.2%, the Dow Jones Industrial Average edged up 0.1% and the Nasdaq added 0.4% in premarket activity. The indexes ended Wednesday trading in the green following a three-day slump.The Treasury Department said Wednesday it will at least double the size of its debt buybacks for longer-dated bonds. The move takes effect Sept. 9 and runs through Nov. 4, covering the rest of the current refunding quarter. Treasury said the increase is intended to provide greater liquidity support in the longer-dated bond market.US government debt surpassed $40 trillion for the first time as of Aug. 18, multiple outlets reported Wednesday, citing Treasury Department data.In a note emailed toon Wednesday, Jefferies Chief US Economist Thomas Simons described the Treasury's announcement as a "surprise" move. "It looks like this move will probably help to keep a lid on long-end yields for the near-term," Simons said.Treasury yields were mixed before the open, with the two-year rate retreating 0.2 basis points to 4.18% while the 10-year rate gained 1.7 basis points to 4.67%. The 30-year rate advanced 2.4 basis points to 5.22%.Trump said in a Wednesday post on Truth Social that the US will launch the "most crushing economic operation ever taken against any country" against Iran. Trump also threatened "tremendous economic consequences" to any nation whose financial institutions, businesses, airports or government entities attempt to assist Iran."This will be economic warfare and isolation on an unprecedented scale," Trump wrote. "This will be an economic D-day."The United Arab Emirates recently suspended economic ties with Iran amid "regional escalations that undermine regional and international peace and security," UAE Foreign Ministry spokeswoman Afra Al Hameli said on X. The UAE is Iran's second-largest commercial partner, according to a CNN report.West Texas Intermediate crude oil rose 2.6% to $88.03 a barrel in premarket action, while Brent gained 2.4% to $93.84.Minutes from the Federal Reserve's July meeting showed Wednesday that officials acknowledged the need for an interest rate hike if inflation does not ease. At the meeting last month, Fed policymakers left interest rates unchanged in a divided decision, with three regional presidents calling for a hike of 25 basis points."There is a palpable hawkish sentiment brewing in the committee," BMO said in a Wednesday note. "But it will take inflation misbehaving to stir this sentiment further. Until then, the Fed will be holding indefinitely."Markets are currently pricing in a 67% probability that the central bank 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.Thursday's economic calendar has the weekly jobless claims bulletin at 8:30 am ET, along with the Philadelphia Fed manufacturing index for August. St. Louis Fed President Alberto Musalem is scheduled to speak at 11:10 am.Walmart (WMT) shares fell 6% after the retail giant issued third-quarter earnings guidance below analysts' expectations. Nordson (NDSN) climbed 9.8% after lifting its fiscal 2026 outlook, while Coty (COTY) fell 11% as its fiscal fourth-quarter adjusted loss came in wider than market estimates.Chinese e-commerce heavyweight Alibaba (BABA) is expected to report its latest financial results before the bell, along with Advance Auto Parts (AAP). Ross Stores (ROST) posts earnings after the markets close.Shares of Moderna (MRNA) dropped 9.8% pre-bell following a 177% jump at the close of the previous trading session. The drugmaker and Merck (MRK) announced positive topline results from a late-stage trial of an experimental skin cancer treatment on Wednesday. Merck was down 0.7% early Thursday.Gold ticked up 0.1% to $4,550 per troy ounce, while bitcoin inclined 5.2% to $71,861.

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