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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.

Equities Rise Intraday, Oil Falls as Markets Monitor Middle East Peace Prospects
US Markets

Equities Rise Intraday, Oil Falls as Markets Monitor Middle East Peace Prospects

US benchmark equity indexes were higher intraday, while oil prices fell as traders awaited progress in diplomatic efforts to end the Middle East conflict.The Dow Jones Industrial Average was up 1% at 50,786.6 after midday Friday, after closing at a record high in the previous session. The S&P 500 and the Nasdaq Composite were up 0.7% each at 7,499.5 and 26,464.9, respectively, intraday. Barring communication services and consumer staples, all sectors were in the green, led by healthcare.West Texas Intermediate crude oil was down 0.6% at $95.74 a barrel, while Brent fell 0.2% to $102.37. Both benchmarks were on track for weekly declines."Markets are still searching for signs of progress in a potential deal between the US and Iran," ING Bank said in a report Friday. "While there are signs of optimism, uncertainty reigns."A Qatari negotiating team arrived in Iran Friday in coordination with Washington to help secure a deal to end the conflict, Reuters reported, citing an unnamed source.On Thursday, US Secretary of State Marco Rubio reportedly said there were "good signs" that a peace deal is in sight, but warned that any agreement would be "unfeasible" if Iran insists on controlling shipping through the crucial Strait of Hormuz. Iran is discussing setting up a permanent toll system with Oman to formalize its control of the strait, news outlets reported."No one in the world is in favor of a tolling system," Rubio told reporters, according to CNBC. "It can't happen [and] it would be unacceptable."US Treasury yields were mixed intraday Friday, with the 10-year rate down 2.4 basis points at 4.56% and the two-year rate rising four basis points to 4.12%.Kevin Warsh took charge of the Federal Reserve Friday, replacing former Chair Jerome Powell amid growing signs of division at the central bank as inflation heats up.Fed Governor Christopher Waller said he is prepared to be patient in holding monetary policy at its current restrictive stance as the Middle East conflict continues to evolve."If I believe inflation expectations start to become unanchored, I would not hesitate to support an increase in the target range for the federal funds rate," Waller said. "But at this point, that action is premature."In company news, Dell Technologies (DELL) shares soared 16% intraday, the top gainer on the S&P 500, as Wells Fargo raised its price target on the stock to $270 from $180.Take-Two Interactive Software (TTWO) shares were down 3.6%, the worst performer on the S&P 500. Late Thursday, the video game publisher logged a smaller-than-expected fiscal fourth-quarter loss and said it was on track to launch the highly anticipated "Grand Theft Auto VI" Nov. 19.In economic news, US consumer sentiment declined to a fresh record low in May as people fear that high gasoline prices could erode their purchasing power, according to a survey by University of Michigan."Consumer sentiment fell for the third straight month as supply disruptions in the Strait of Hormuz continue to boost gasoline prices," Surveys of Consumers Director Joanne Hsu said. "The cost of living continues to be a first-order concern, with 57% of consumers spontaneously mentioning that high prices were eroding their personal finances, up from 50% last month."Gold was down 0.5% at $4,519.30 per troy ounce, while silver lost 0.1% $76.66 per ounce.

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

Exchange-Traded Funds Rise as US Equities Advance After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV edged higher. Actively traded Invesco QQQ Trust (QQQ) gained 0.9%.US equity indexes rose as pressure on government bond yields eased and crude oil retreated from intraday highs amid progress in Iran peace talks.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 0.2%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was 1.6% higher; iShares US Technology ETF (IYW) added 1.4%, and iShares Expanded Tech Sector ETF (IGM) was up 1.3%.The State Street SPDR S&P Semiconductor (XSD) gained 4.6%, and iShares Semiconductor (SOXX) was up 3.2%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 0.6%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 1.6%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 1.6%.CommoditiesCrude oil rose 0.5%, and the United States Oil Fund (USO) slipped 0.9%. Natural gas dropped 3.7%, and the United States Natural Gas Fund (UNG) was down 3.4%.Gold on Comex slipped 0.5% and the State Street SPDR Gold Shares (GLD) shed 0.5%. Silver fell 0.7%, and iShares Silver Trust (SLV) dipped 1%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 0.1%. The Vanguard Consumer Staples ETF (VDC) fell 0.1%, and iShares Dow Jones US Consumer Goods (IYK) was up 0.4%.The State Street Consumer Discretionary Select Sector SPDR (XLY) gained 0.5%. VanEck Retail ETF (RTH) fell fractionally, and the State Street SPDR S&P Retail (XRT) rose 0.4%.HealthcarThe State Street Health Care Select Sector SPDR (XLV) gained 1.1%, iShares US Healthcare (IYH) added 1.1%, and Vanguard Health Care ETF (VHT) was up 1%. IShares Biotechnology ETF (IBB) rose 0.2%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) rose 1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 1%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) dipped 0.9%, ProShares Ether ETF (EETH) was down 0.9%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 1% lower.

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

US Equity Indexes Rise as Momentum Builds to Secure Iran Peace Agreement

US equity indexes rose as pressure on government bond yields eased and crude oil retreated from intraday highs amid progress in Iran peace talks.The Nasdaq Composite rose 0.5% to 26,423.4, with the S&P 500 up 0.6% to 7,488.2 and the Dow Jones Industrial Average higher by 0.8% to 50,709.3 in Friday's midday trading. The Dow hit an all-time high of 50,746.25, according to data compiled by CNBC.A Qatari negotiating team arrived in Tehran on Friday in coordination with the US to help secure a deal to end the war, Reuters reported, citing a source with knowledge of the matter. Pakistan's army chief Asim Munir is headed to Tehran to help mediate a settlement, Al Jazeera reported Friday.While there are "good signs" that an agreement to end the conflict is in sight, any deal would be "unfeasible" if Iran pursues measures to permanently control the Strait of Hormuz, US Secretary of State Marco Rubio said on Thursday, according to CNBC. The US plans to seize Tehran's stockpile of enriched uranium as part of peace negotiations, President Donald Trump reportedly said Thursday.West Texas Intermediate crude oil futures rose 0.8% to $97.19, and Brent crude futures climbed 1.1% to $103.65. The WTI and Brent futures traded more than 3% higher earlier in the day.US Treasury yields were mixed, with the 10-year down 1.6 basis points to 4.57% and the 30-year down 3.4 basis points to 5.08%. The two-year yield, however, rose 3.8 basis points to 4.13%.In economic news, the Conference Board's measure of leading indicators rose by 0.1% in April following a 0.6% decrease in March."Strong investment in AI infrastructure, data centers, and energy production likely will have a positive impact on growth and sustain business spending but may only partially offset weakness on the consumer side," said Justyna Zabinska-La Monica, Senior Manager for Business Cycle Indicators.The University of Michigan consumer sentiment index was revised down to 44.8 for May from 48.2 preliminary, compared with expectations for no revision in a Bloomberg-compiled survey and a drop from the final 49.8 in April. Respondents expected a 4.8% inflation rate over the next year and 3.9% annual inflation over the next five years, up from 4.7% and 3.5%, respectively, in April."Consumer sentiment fell for the third straight month as supply disruptions in the Strait of Hormuz continue to boost gasoline prices," Michigan said.In company news, Dell Technologies (DELL) shares jumped 17%, the top gainer on the S&P 500, after Wells Fargo raised its price target to $270 from $180.Take-Two Interactive Software (TTWO) reported a narrower fiscal Q4 net loss as revenue increased. MoffettNathanson adjusted its price target on the company's shares to $196 from $206 while maintaining its neutral rating. Take-Two shares slumped 4.3%, the steepest decline on the Nasdaq.Merck (MRK) said Friday the European Medicines Agency's Committee for Medicinal Products for Human Use has recommended the approval of Keytruda, in combination with Padcev, to treat a type of bladder cancer. Shares of Merck jumped 5.4%, the Dow's top performer.

Dow JonesNasdaq CompositeS&P 500$DELL$MRK$TTWO
Japan

Dow Scales New Peak as Momentum Builds in Iran Peace Talks

US equity indexes rose, with the Dow Jones Industrial Average touching an all-time high intraday, as pressure from government bond yields eased and Washington acknowledged progress in Iran peace talks.The Nasdaq Composite rose 0.6% to 26,460.1, with the S&P 500 up 0.6% to 7,486.5 and the Dow Jones Industrial Average higher by 0.6% to 50,589.3 in Friday's midday trading. The Dow hit an all-time high of 50,712.24.A Qatari negotiating team arrived in Tehran on Friday in coordination with the US to help secure a deal to end the war, Reuters reported, citing a source with knowledge of the matter. Pakistan's army chief Asim Munir is headed to Tehran to help mediate a settlement, Al Jazeera reported Friday.While there are "good signs" that an agreement to end the conflict is in sight, any deal would be "unfeasible" if Iran pursues measures to permanently control the Strait of Hormuz, US Secretary of State Marco Rubio said on Thursday, according to CNBC. The US plans to seize Tehran's stockpile of enriched uranium as part of peace negotiations, President Donald Trump reportedly said Thursday.West Texas Intermediate crude oil futures rose 1.2% to $97.51, and Brent crude futures climbed 1.6% to $104.17, but were off session highs earlier in the day.US Treasury yields were mixed, with the 10-year steady at 4.58% and the 30-year yield down 2.1 basis points to 5.09. The two-year yield rose 4.5 basis points to 4.13%.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday Buoyed by Robust Corporate Earnings Season

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 0.4% higher in Friday's premarket activity, buoyed by a robust corporate earnings season.US stock futures were also higher, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures advancing 0.4%, and Nasdaq futures gaining 0.2% before the start of regular trading.The final University of Michigan consumer sentiment reading for May and the leading indicators data for April will be released at 10 am ET.Kansas City Fed's services reading for May is slated for an 11 am ET release.Federal Reserve Governor Christopher Waller speaks on Friday.In premarket activity, bitcoin was down by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% lower, Ether ETF (EETH) retreated by 0.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.03%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 0.4%, and the iShares US Technology ETF (IYW) was 0.7% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 0.5%, while the iShares Semiconductor ETF (SOXX) rose by 0.7%.Workday (WDAY) shares were up more than 7% in premarket activity after the company's fiscal Q1 results overnight surpassed market expectations.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.2%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were flat.Rocket Lab (RKLB) stock was up more than 2% before the opening bell after the company received a $90 million US Space Force contract to design, build, and operate two satellites hosting the Heimdall space domain awareness payload.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 0.1% lower.Novo Nordisk (NVO) stock was down more than 1% premarket, after an almost similar fall in the previous session. The European Medicines Agency said it has recommended extending Wegovy's marketing authorization to include its oral formulation for weight management.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.5% lower.UBS (UBS) shares were down more than 1% pre-bell. The company said Thursday it expects the voluntary review of Credit Suisse's World War II operations to conclude by the end of the year.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.5%. The iShares US Consumer Staples ETF (IYK) was down 0.2%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced by 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) increased 0.4%.Yum China Holdings (YUMC) shares were down more than 1% pre-bell, continuing from a 1.3% decline at the prior close. The company said its KFC light-meal business, KPRO, now operates more than 300 sites in China.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.2%.TotalEnergies (TTE) stock was down more than 1% before the opening bell after Bloomberg reported the company is considering selling a 50% stake in a portfolio of European renewable energy assets.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 1.2% to $97.49 per barrel on the New York Mercantile Exchange. Natural gas was down 1.2% at $2.98 per 1 million British Thermal Units. The United States Oil Fund (USO) retreated by 0.7%, while the United States Natural Gas Fund (UNG) was 0.9% lower.Gold futures for May retreated by 0.5% to $4,521.20 an ounce on the Comex. Silver futures declined by 0.8% to $76.09 an ounce. SPDR Gold Shares (GLD) was down by 0.4%, and the iShares Silver Trust (SLV) fell by 1.3%.

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

Easing Bond Yields Lift US Equity Futures Pre-Bell Amid Ongoing Middle East Peace Talks

US equity futures were higher pre-bell Friday as traders mulled easing bond yields and monitored developments in the Middle East peace negotiations.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.4% higher.Treasury yields declined after a spike earlier in the week. The yield on the 10-year US Treasury note fell more than 2 basis points to 4.56%.Iranian Foreign Minister Abbas Araghchi met with Pakistani Interior Minister Syed Mohsin Naqvi in Tehran to discuss proposals aimed at ending the US-Iran conflict, according to Iranian media reports. US and Iran are still in disagreement over the issue of uranium enrichment and control over the Strait of Hormuz.Traders noted the latest round of earnings, with BJ's Wholesale Club (BJ) posting lower fiscal Q1 adjusted earnings on higher revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1% at $103.58 per barrel and US West Texas Intermediate crude 0.3% higher at $96.64 per barrel.The final University of Michigan consumer sentiment report for May, scheduled at 10 am ET, is expected to show consumer sentiment index coming in at 48.2, unchanged from the preliminary reading, according to estimates compiled by Bloomberg.Federal Reserve Governor Christopher Waller is slated to speak on Friday.In other world markets, Japan's Nikkei closed 2.7% higher, Hong Kong's Hang Seng ended 0.9% higher, and China's Shanghai Composite finished 0.9% higher. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was 1.1% higher in Europe's early afternoon session.In equities, Workday (WDAY) shares rose 6.3% after the company's fiscal Q1 results surpassed market expectations. Dell Technologies (DELL) stock was up 4.4% after Wells Fargo raised its price target to $270 from $180. Nokia (NOK) shares were up 3.2% after the company said it launched an AI networking innovation lab in California.On the losing side, UBS (UBS) stock was down 0.9% after the company said it expects the voluntary review of historic World War II operations at Credit Suisse to conclude by the end of the year. NetEase (NTES) shares fell 2.6% after the company posted lower Q1 non-GAAP earnings. Copart (CPRT) stock was down 2.5% despite posting higher fiscal Q3 earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$BJ$CPRT$DELL$NOK$NTES$UBS$WDAY
Japan

Easing Bond Yields Nudge US Equity Futures Higher Pre-Bell Amid Ongoing Middle East Peace Talks

US equity futures were marginally higher pre-bell Friday as traders observed bond yields easing and continued to monitor developments in the Middle East peace negotiations.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.1% higher.Treasury yields declined after a spike earlier in the week. The yield on the 10-year US Treasury note fell more than 2 basis points to 4.56%.Iranian Foreign Minister Abbas Araqchi met with Pakistani Interior Minister Syed Mohsin Naqvi in Tehran to discuss proposals aimed at ending the US-Iran conflict, according to Iranian media reports. US and Iran are still in disagreement over the issue of uranium enrichment and control over the Strait of Hormuz.Traders noted the latest round of earnings, with BJ's Wholesale Club (BJ) posting lower fiscal Q1 adjusted earnings on higher revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.9% at $104.53 per barrel and US West Texas Intermediate crude 1.3% higher at $97.53 per barrel.The final University of Michigan consumer sentiment report for May, scheduled at 10 am ET, is expected to show consumer sentiment index coming in at 48.2, unchanged from the preliminary reading, according to estimates compiled by Bloomberg.Federal Reserve Governor Christopher Waller is slated to speak on Friday.

Dow JonesNasdaq CompositeS&P 500$BJ
Stocks Rise Pre-Bell as Investors Monitor US-Iran Negotiations
US Markets

Stocks Rise Pre-Bell as Investors Monitor US-Iran Negotiations

The benchmark US stock measures were tracking in the green before the open Friday as investors continue to monitor negotiations between the US and Iran to end the Middle East conflict.The S&P 500 edged up 0.1%, the Dow Jones Industrial Average added 0.2% and the Nasdaq was slightly up in premarket activity. The indexes finished the previous trading session higher, with the Dow reaching an all-time peak.US Secretary of State Marco Rubio reportedly said Thursday that there were "good signs" that a peace deal between the two countries is in sight, but warned that any agreement would be "unfeasible" if Iran insists on controlling shipping through the crucial Strait of Hormuz. Iran is discussing setting up a permanent toll system with Oman to formalize its control of the strait, Bloomberg News reported."No one in the world is in favor of a tolling system," Rubio told reporters, according to CNBC. "It can't happen [and] it would be unacceptable."The semi-official Iranian Students' News Agency reportedly said that the latest US proposal to Iran has "narrowed the gaps to some extent" between the two sides, although "further reductions require an end to the temptation for war from Washington."West Texas Intermediate crude oil rose 1.9% to $98.19 a barrel before the open, while Brent increased 2.5% to $105.18."The oil market remains overly sensitive to Iran-related headlines, with participants continuing to pin considerable hope on reports that talks between the US and Iran are progressing," ING Bank said in a report on Thursday.Treasury yields were down in premarket action, with the two-year rate retreating 0.7 basis points to 4.08% and the 10-year rate off 2.4 basis points to 4.56%.Shares of IBM (IBM), GlobalFoundries (GFS) and D-Wave Quantum (QBTS) were up pre-bell after being selected for US government funding under the Trump administration's plan to strengthen the country's position in quantum computing.Ross Stores (ROST) rose 5.3% after the discount retailer lifted its full-year outlook and reported better-than-expected fiscal first-quarter results. Take-Two Interactive Software (TTWO) gained 5.8% as the video game publisher reported a smaller-than-expected fiscal fourth-quarter loss and said it was on track to launch the highly anticipated "Grand Theft Auto VI" on Nov. 19.BJ's Wholesale Club (BJ) and Booz Allen Hamilton (BAH) report their latest financial results before the bell.Friday's economic calendar has the final University of Michigan consumer sentiment report for May at 10 am ET, while the weekly Baker Hughes oil-and-gas rig count posts at 1 pm. Federal Reserve Governor Christopher Waller is scheduled to speak at 10 am.Richmond Fed President Tom Barkin said Thursday that lifting interest rates may not be an appropriate response to curb price pressures."Raising rates to weaken demand doesn't address the root cause behind supply shock-driven inflation. It doesn't free up trade routes, reopen factories or melt ice," he said in prepared remarks for an event in North Carolina. "That said, I've been asking myself whether we've entered an era where supply shocks will become more frequent."Gold decreased 0.7% to $4,513 per troy ounce, while bitcoin slipped 0.4% to $77,221.

Dow JonesNasdaq CompositeS&P 500$BAH$BJ$GFS$IBM$QBTS$ROST$TTWO
International

Persian Gulf Doubts, AI-Optimism Cap Wall Street Pr-Bell; Asia, Europe Up

Wall Street futures largely pointed sideways pre-bell Friday as traders again weighed the uncertain Persian Gulf outlook against the sustained upbeat performance of AI-related shares.Modestly easing bond yields gave some lift to market sentiment.In the futures, the S&P 500 rose 0.1%, the Nasdaq was steady and the Dow Jones was up 0.2%.Asian exchanges rallied overnight, with a record set on Tokyo's Nikkei 225 index on tech-sector optimism. European bourses tracked moderately north midday on the continent.President Trump will swear in Kevin Warsh as Federal Reserve chair on Friday at the White House, the administration said.On the economic calendar is the University of Michigan consumer sentiment report for May at 10 am ET, along with the April leading indicators bulletin.The weekly Baker Hughes oil-and-gas rig count logs at 1 pm.Federal Reserve Governor Christopher Waller is slated to speak on Friday.In pre-market action, bitcoin traded at $77,267, West Texas Intermediate crude oil traded up 2.4% at $98.64, and 10-year US Treasuries offered 4.56%. Spot gold commanded $4,518 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

US Equity Indexes Off Session Highs as Iran Examines Peace Deal, Trump Firm No-Nuclear for Tehran

US equity indexes were off session highs as President Donald Trump appeared open to giving Iran time to review Washington's latest peace proposal while reportedly remaining firm on preventing Tehran from ever going nuclear.The Dow Jones Industrial Average climbed 0.6% to 50,285.66, with the S&P 500 up 0.2% to 7,445.72 and the Nasdaq Composite higher by less than 0.1% to 26,293.10 on Thursday. After the open, all three indexes traded lower. The gauges, however, clawed back losses and traded higher after midday, before giving up some of the gains in the final leg.All sectors except consumer staples, energy, and industrials rose. Utilities led the gainers.The Islamic Republic is "reviewing" the views of the American side, CNBC cited Iran Foreign Ministry spokesperson Esmaeil Baghaei as saying in a report from the state-run Nour News on Thursday. The latest US peace offer partly bridged the gap between warring sides, but disagreements remain, Bloomberg reported. Trump is prepared to wait a few more days to "get the right answers" from Tehran, CNBC reported.Meanwhile, Iran's Supreme Leader Ayatollah Mojtaba Khamenei ordered enriched uranium to remain in the Islamic Republic, Reuters reported Thursday, citing two senior sources from the country. However, Tehran will "downblend" the nuclear material itself, an Iranian official on Thursday told Al Jazeera, which also reported that Trump has vowed to seize the nuclear material."We will get it. We don't need it, we don't want it. We'll probably destroy it after we get it, but we're not going to let them have it," Reuters cited Trump as telling reporters at the White House on Thursday.Further, Iran is also discussing with Oman ways to set up a permanent toll system to formalize its control of maritime traffic through the Strait of Hormuz, Bloomberg reported Thursday. "Iran and Oman must mobilize all their resources both to provide security services and to manage navigation, in the most appropriate manner," the Iranian ambassador to France, Mohammad Amin-Nejad, told Bloomberg on Wednesday.West Texas Intermediate crude oil futures fell 0.9% to $97.39, and Brent crude futures declined 0.9% to $104.12.US Treasury yields were mixed, with the 10-year leaning slightly lower at 4.57%. The two-year yield rose 3.4 basis points to 4.07%.Late Wednesday, a majority of Federal Open Market Committee participants appeared to be leaning away from rate cuts for now and were open to the possibility of rate increases, minutes of the April 28-29 meeting showed.In economic news Thursday, US initial jobless claims fell to 209,000 in the week ended May 16 from an upwardly revised 212,000 in the previous week, compared with expectations for 210,000 in a Bloomberg-compiled survey.The May flash reading of manufacturing conditions from S&P Global rose to 55.3, a 48-month high, from 54.5 in April, compared with the 53.8 anticipated in a Bloomberg-compiled poll.April housing starts fell 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg for a 1.410 million rate. Building permits jumped 5.8% to a 1.442 million rate in April, above the 1.384 million rate expected and following a decrease to a 1.363 million rate in March.In company news, Nvidia (NVDA) reported overnight stronger-than-expected fiscal Q1 adjusted earnings and revenue. The chipmaker also unveiled an additional $80 billion share repurchase authorization and raised its quarterly dividend.

Dow JonesNasdaq CompositeS&P 500$NVDA
Dow Hits Record High Despite Nvidia's Decline; Oil Prices Fall
US Markets

Dow Hits Record High Despite Nvidia's Decline; Oil Prices Fall

The Dow Jones Industrial Average hit an all-time peak on Thursday even as Nvidia's (NVDA) shares declined, while oil prices headed for their third straight day of decline.The Dow rose 0.6% to settle at 50,285.7, logging a record closing high and marking the second consecutive day of gains. The S&P 500 added 0.2% to 7,445.7, while the Nasdaq Composite edged up 0.1% to 26,293.1. Most sectors ended in the green, led by utilities, while consumer staples saw the biggest drop.Shares of Nvidia fell 1.8%, the third-worst performer on the Dow.The chipmaking giant late Wednesday reported fiscal first-quarter revenue above Wall Street's estimates as data center sales outperformed expectations amid an artificial intelligence boom.For the current quarter, Nvidia said it anticipates revenue of $91 billion, plus or minus 2%. The consensus indicated $87.29 billion."Nvidia has become so important that good is not enough," Saxo Bank said in a report. "Investors want proof that the cycle extends into 2027 and beyond, that margins can stay high, and that customers are not simply ordering ahead before the next chip transition."West Texas Intermediate crude oil was last down 0.3% at $97.82 a barrel and Brent fell 0.5% to $104.55, both on course for their third consecutive decline."The oil market remains overly sensitive to Iran-related headlines, with participants continuing to pin considerable hope on reports that talks between the US and Iran are progressing," ING Bank said in a report."We've been in this situation multiple times before, which ultimately led to disappointment," ING said. "Yet the market is still reactive, likely reflecting the significance of ongoing supply disruptions."Iran's Supreme Leader, Ayatollah Mojtaba Khamenei, has issued a directive that the country's uranium should remain within the country, Reuters reported Thursday, citing two senior Iranian sources.President Donald Trump reportedly said Thursday that the US will eventually recover Iran's stockpile of highly enriched uranium. Retrieving the uranium is a key objective of Trump's war on Iran.Trump told reporters on Wednesday that negotiations with Iran had reached the final stages, though he warned of further attacks if Tehran backed out, according to several media outlets.Iran is discussing setting up a permanent toll system with Oman to formalize its control of the Strait of Hormuz, Bloomberg News reported Thursday.Treasury yields were mixed, with the two-year rate last up 1.1 basis points at 4.08% and the 10-year yield rate falling 2.3 basis points to 4.57%.Switching to monetary policy, Richmond Fed President Tom Barkin said lifting interest rates may not be an appropriate response to curb price pressures."Raising rates to weaken demand doesn't address the root cause behind supply shock-driven inflation. It doesn't free up trade routes, reopen factories or melt ice," he said in prepared remarks for an event in North Carolina. "That said, I've been asking myself whether we've entered an era where supply shocks will become more frequent.""With inflation above our 2% target for over five years now, it's worth asking whether the cumulative impact of so many waves risks loosening the anchor," Barkin said.At their April policy meeting, Federal Reserve officials flagged the possibility of higher interest rates if the Middle East conflict drags on and keeps inflation above the 2% goal, minutes from the meeting showed on Wednesday.In other corporate news, Ralph Lauren (RL) jumped nearly 14%, the top gainer on the S&P 500. The luxury apparel maker outlined a full-year revenue guidance that implied a slowdown annually, while the company reported better-than-expected fiscal fourth-quarter results.Spotify (SPOT) advanced 13% after the audio-streaming platform outlined its long-term financial targets and signed licensing agreements with Universal Music Group for fan-made remixes.Walmart (WMT) shares slumped 7.3%, the steepest decline on the Dow and third-biggest on the S&P 500. The retail giant issued a fiscal second-quarter earnings outlook below market estimates, while it reported better-than-expected revenue in the previous three-month period.Intuit's (INTU) stock plunged 20%, the worst performer on the S&P 500. The financial technology platform late Wednesday reported better-than-expected fiscal third-quarter results and disclosed plans to reduce its workforce by about 17%.Deere's (DE) fiscal second-quarter results exceeded analysts' expectations, while the company on Thursday affirmed its soft full-year earnings outlook amid continued pressure in global agricultural markets. The stock lost 5.2%, among the worst performers on the S&P 500.Gold was last up 0.2% at $4,544.70 per troy ounce, while silver rose 1.1% to $77.01 per ounce.

Dow JonesNasdaq CompositeS&P 500$DE$INTU$NVDA$RL$SPOT$WMT
Japan

US Equity Markets Close Higher as Trump Signals Openness to Give Iran More Time on Peace Plan

US equity indexes ended higher Thursday after President Donald Trump appeared willing to wait for Iran to review Washington's latest proposal to agree on a framework for a peace deal.* Iran said it is reviewing the Trump administration's latest proposal to end the war after the US president said he was prepared to wait a few more days to "get the right answers" from Tehran, CNBC reported.* US initial jobless claims last week fell to 209,000 from an upwardly revised 212,000 in the previous week, compared with expectations for 210,000 in a Bloomberg survey.* April housing starts fell 2.8% to a 1.465 million annual rate from March, compared with a 1.41 million rate expected in a Bloomberg survey.* July West Texas Intermediate crude oil fell $0.76 to settle at $97.50 per barrel, while July Brent crude, the global benchmark, was last seen down $0.81 at $104.21.* IBM (IBM), GlobalFoundries (GFS), and D-Wave Quantum (QBTS) said they are set to receive billions of dollars in US government backing as part of the Trump administration's move to solidify the nation's lead in quantum computing. IBM shares rose 12%, the top gainer on the Dow Jones Industrial Average.* Intuit (INTU) shares fell 20%, the biggest drop on the S&P 500, after the company said it expects to incur $300 million to $340 million in restructuring charges from a plan to cut its workforce by 17%, primarily in fiscal Q4.

Dow JonesNasdaq CompositeS&P 500$GFS$IBM$INTU$QBTS
Japan

US Equity Indexes Mixed as Iran Reviews Washington's Peace Proposal, Trump Firm on Nuclear Rollback

US equity indexes turned mixed ahead of Thursday's close as President Donald Trump appeared open to giving Iran time to review Washington's latest peace proposal while reportedly vowing to be firm on the nuclear issue.The Nasdaq Composite was steady at 26,279.1, while the S&P 500 was up 0.1% to 7,440.8 and the Dow Jones Industrial Average climbed 0.5% to 50,254.1.Iran on Thursday said it is reviewing the Trump administration's latest proposal to end the war after the US president said he was prepared to wait a few more days to "get the right answers" from Tehran, CNBC reported.Iran Foreign Ministry spokesperson Esmaeil Baghaei said the Islamic Republic had received the views of the American side and is "reviewing" it, CNBC cited the state-run agency Nour News. Iran said the latest US peace proposal partly bridged the gap between the warring sides, but disagreements remain, Bloomberg reported.Iran's Supreme Leader Ayatollah Mojtaba Khamenei ordered enriched uranium to remain in the Islamic Republic, Reuters reported Thursday, citing two senior sources from the country. However, Tehran will "downblend" the nuclear material itself, an Iranian official told Al Jazeera, which also reported Trump has vowed to seize the nuclear material.Further, Iran is also discussing with Oman ways to set up a permanent toll system to formalize its control of maritime traffic through the Strait of Hormuz, Bloomberg reported. "Iran and Oman must mobilize all their resources both to provide security services and to manage navigation, in the most appropriate manner," the Iranian ambassador to France, Mohammad Amin-Nejad, said in an interview with Bloomberg in Paris on Wednesday.West Texas Intermediate crude oil futures fell 1.1% to $97.22, and Brent crude futures declined 1.1% to $103.91 in the final leg of trading.

Dow JonesNasdaq CompositeS&P 500
Equity Markets Rise Intraday, Oil Falls as Traders Monitor Middle East Developments
US Markets

Equity Markets Rise Intraday, Oil Falls as Traders Monitor Middle East Developments

US equity markets edged higher intraday and oil prices declined as traders tracked the latest on the Iran war, while technology bellwether Nvidia's (NVDA) shares slipped despite reporting stronger-than-expected first-quarter revenue.The Dow Jones Industrial Average was up 0.5% at 50,256.6 after midday Thursday, while the Nasdaq Composite rose 0.3% to 26,345. The S&P 500 added 0.3% to 7,453.4. Most sectors were in the green, led by consumer discretionary, while consumer staples saw the biggest drop.West Texas Intermediate crude oil was down 2.4% at $95.92 a barrel intraday, while Brent fell 2.5% to $102.39.Iran's Supreme Leader, Ayatollah Mojtaba Khamenei, has issued a directive that the country's uranium should remain within the country, Reuters reported Thursday, citing two senior Iranian sources.President Donald Trump reportedly said Thursday that the US will eventually recover Iran's stockpile of highly enriched uranium. Retrieving the uranium is a key objective of Trump's war on Iran.Trump told reporters on Wednesday that negotiations with Iran had reached the final stages, though he warned of further attacks if Tehran backed out, according to several media outlets.Iran is discussing setting up a permanent toll system with Oman to formalize its control of the Strait of Hormuz, Bloomberg News reported Thursday.Treasury yields were mixed intraday, with the two-year rate up 2.4 basis points at 4.09% and the 10-year yield rate little changed at 4.59%.Shares of Nvidia (NVDA) fell 1.2% intraday, among the worst performers on the Dow.The chipmaking giant late Wednesday reported fiscal first-quarter revenue above Wall Street's estimates as data center sales outperformed expectations amid an artificial intelligence boom.For the current quarter, Nvidia said it anticipates revenue of $91 billion, plus or minus 2%. The consensus indicated $87.29 billion."Nvidia has become so important that good is not enough," Saxo Bank said in a report. "Investors want proof that the cycle extends into 2027 and beyond, that margins can stay high, and that customers are not simply ordering ahead before the next chip transition."Walmart (WMT) shares were down 6.9%, the steepest decline on the Dow and second-biggest on the S&P 500. The retail giant issued a fiscal second-quarter earnings outlook below market estimates, while it reported better-than-expected revenue in the previous three-month period.Intuit's (INTU) stock plunged 20% intraday, the worst performer on the S&P 500. The financial technology platform late Wednesday reported better-than-expected fiscal third-quarter results and disclosed plans to reduce its workforce by about 17%.Deere's (DE) fiscal second-quarter results exceeded analysts' expectations, while the company on Thursday affirmed its soft full-year earnings outlook amid continued pressure in global agricultural markets. The stock was 4.6% lower intraday, among the worst performers on the S&P 500.Lifting interest rates may not be an appropriate response from the Federal Reserve to curb price pressures, Richmond Fed President Tom Barkin said in prepared remarks for an event in North Carolina."Raising rates to weaken demand doesn't address the root cause behind supply shock-driven inflation. It doesn't free up trade routes, reopen factories or melt ice," he said. "That said, I've been asking myself whether we've entered an era where supply shocks will become more frequent.""With inflation above our 2% target for over five years now, it's worth asking whether the cumulative impact of so many waves risks loosening the anchor."Fed officials at their April policy meeting flagged the possibility of higher interest rates if the Middle East conflict drags on and keeps inflation above the 2% goal, minutes from the meeting showed on Wednesday.Ross Stores (ROST), Take-Two Interactive Software (TTWO), and Workday (WDAY) are among companies scheduled to release their earnings after the markets close.Gold was up 0.2% at $4,545.90 per troy ounce, while silver rose 1.1% to $77.05 per ounce.

Dow JonesNasdaq CompositeS&P 500$DE$INTU$NVDA$ROST$TTWO$WDAY$WMT
Asia Markets

US Equity Indexes Advance as Iran Reviews Washington's Peace Proposal

US equity indexes rose as President Donald Trump appeared open to giving Iran time to review Washington's latest proposal to agree on a framework for a peace deal.The Nasdaq Composite rose 0.5% to 26,390.2, with the S&P 500 up 0.4% to 7,462.7 and the Dow Jones Industrial Average higher by 0.6% to 50,324.7 in Thursday's midday trading. All three indexes traded lower earlier in the session.All sectors, except energy, consumer staples, and real estate, rose. Consumer discretionary led the gainers.Iran on Thursday said it is reviewing the Trump administration's latest proposal to end the war after the US president said he was prepared to wait a few more days to "get the right answers" from Tehran, CNBC reported. Iran Foreign Ministry spokesperson Esmaeil Baghaei said the Islamic Republic had received the views of the American side and is "reviewing" it, CNBC cited the state-run agency Nour News.Meanwhile, Iran's Supreme Leader Ayatollah Mojtaba Khamenei ordered enriched uranium to remain in the Islamic Republic, Reuters reported Thursday, citing two senior sources from the country. However, Tehran will "downblend" the nuclear material itself, an Iranian official told Al Jazeera.Iran is also discussing with Oman ways to set up a permanent toll system to formalize its control of maritime traffic through the Strait of Hormuz, Bloomberg reported. "Iran and Oman must mobilize all their resources both to provide security services and to manage navigation, in the most appropriate manner," the Iranian ambassador to France, Mohammad Amin-Nejad, said in an interview with Bloomberg in Paris on Wednesday.West Texas Intermediate crude oil futures jumped 2.1% to $100.34, and Brent crude futures climbed 1.4% to $106.53 as Trump has previously said that Iran cannot have nuclear weapons and control Hormuz, the chokepoint to about a fifth of global crude oil flows.Most US Treasury yields rose, with the 10-year leaning slightly higher to 4.57% and the two-year rising 2.4 basis points to 4.06%, reflecting concern that crude oil prices above $100 a barrel can push up the time it takes the Federal Reserve to restore price pressures to its 2% target.Late Wednesday, a majority of Federal Open Market Committee participants appeared to be leaning away from rate cuts for now and were open to the possibility of rate increases, minutes of the April 28-29 meeting showed."Several participants highlighted that it would likely be appropriate to lower the target range for the federal funds rate once there are clear indications that disinflation is firmly back on track or if solid signs emerge of greater weakness in the labor market," the minutes said.In economic news Thursday, US initial jobless claims fell to 209,000 in the week ended May 16 from an upwardly revised 212,000 in the previous week, compared with expectations for 210,000 in a Bloomberg-compiled survey.The May flash reading of manufacturing conditions from S&P Global rose to 55.3, a 48-month high, from 54.5 in April, compared with the 53.8 anticipated in a Bloomberg-compiled poll.April housing starts fell 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg for a 1.410 million rate. Building permits jumped 5.8% to a 1.442 million rate in April, above the 1.384 million rate expected and following a decrease to a 1.363 million rate in March. Homes permitted but not started decreased, so the outlook is mixed for a rebound in starts next month.In company news, Nvidia (NVDA) reported overnight stronger-than-expected fiscal Q1 adjusted earnings and revenue, beating market expectations. The chipmaker also unveiled an additional $80 billion share repurchase authorization and raised its quarterly dividend.

Dow JonesNasdaq CompositeS&P 500$NVDA
Asia Markets

Exchange-Traded Funds Mixed, US Equities Decline After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM edged higher and IVV fell. Actively traded Invesco QQQ Trust (QQQ) shed 0.5%.US equity indexes fell, pressured by higher crude oil and Treasury yields, amid concern that Iran's nuclear ambitions could breach President Donald Trump's red lines.EnergyIShares US Energy ETF (IYE) rose 0.1% and the State Street Energy Select Sector SPDR (XLE) fell fractionally.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was marginally down; iShares US Technology ETF (IYW) lost 0.3%, and iShares Expanded Tech Sector ETF (IGM) fell less than 0.1%.The State Street SPDR S&P Semiconductor (XSD) gained 1.1%, and iShares Semiconductor (SOXX) was down 0.2%.FinancialThe State Street Financial Select Sector SPDR (XLF) dipped 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) declined 1.2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), climbed 1.3%.CommoditiesCrude oil rose 2.1%, and the United States Oil Fund (USO) added 1.7%. Natural gas advanced 1.1%, and the United States Natural Gas Fund (UNG) was down 0.2%.Gold on Comex slipped 0.3% and the State Street SPDR Gold Shares (GLD) shed 0.6%. Silver gained 0.1%, and iShares Silver Trust (SLV) fell fractionally.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) eased 1.4%. The Vanguard Consumer Staples ETF (VDC) fell 1.8%, and iShares Dow Jones US Consumer Goods (IYK) was down 0.1%.The State Street Consumer Discretionary Select Sector SPDR (XLY) dipped 0.3%. VanEck Retail ETF (RTH) was down 1.5%, and the State Street SPDR S&P Retail (XRT) shed 0.7%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) gained 0.1%, iShares US Healthcare (IYH) rose fractionally and Vanguard Health Care ETF (VHT) was up 0.1%. IShares Biotechnology ETF (IBB) fell marginally.IndustrialThe State Street Industrial Select Sector SPDR (XLI) eased 0.8%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 0.8%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) dipped 0.9%, ProShares Ether ETF (EETH) was down 0.3%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 1.2% higher.

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

US Equity Indexes Decline as Iran's Efforts to Keep Enriched Uranium Risk Fallout With Trump

US equity indexes fell, pressured by higher crude oil and Treasury yields, amid concern that Iran's nuclear ambitions could breach President Donald Trump's red lines.The Nasdaq Composite fell by 0.5% to 26,136.5, with the S&P 500 down 0.4% to 7,404.4 and the Dow Jones Industrial Average lower by 0.2% to 49,888.2 in midday trading Thursday.Iran's Supreme Leader Ayatollah Mojtaba Khamenei has ordered enriched uranium to remain in the Islamic Republic, Reuters reported Thursday, citing two senior sources from the country. On Wednesday, President Trump warned of resuming military action if Tehran does not provide "100% good answers" in negotiations facilitated by a trio of Gulf nations, CNBC reported.Mediator Pakistan stepped up efforts to achieve progress in talks that Trump warned are on the "borderline" between a deal and renewed strikes, Al Jazeera reported.Meanwhile, Iran is discussing with Oman how to set up some form of a permanent toll system that will formalize its control of maritime traffic through the Strait of Hormuz, Bloomberg reported.West Texas Intermediate crude oil futures jumped 2.4% to $100.55, and Brent crude futures climbed 2% to $107.14 as Trump has previously said that Iran cannot have nuclear weapons and control Hormuz, the chokepoint to about a fifth of global crude oil flows.US Treasury yields rose, with the 30-year up 2.2 basis points to 5.14%, heading back toward its highest since 2007, as higher crude oil prices can increase the challenge facing the Federal Reserve to tame inflationary pressures. The 10-year climbed 3.9 basis points to 4.61%, aiming to return to its strongest level in more than a year.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Thursday Amid Uncertainty Surrounding US-Iran Talks

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.6% lower in Thursday's premarket activity amid increasing uncertainty about the progress of any talks between the US and Iran.US stock futures were also lower, with S&P 500 Index futures down 0.3%, Dow Jones Industrial Average futures slipping 0.2%, and Nasdaq futures retreating 0.5% before the start of regular trading.US initial jobless claims fell to a level of 209,000 in the employment survey week ended May 16 from an upwardly revised 212,000 level in the previous week, compared with expectations for a smaller decrease to 210,000 in survey of analysts compiled by Bloomberg as of 7:30 am ET.April housing starts fell by 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg as of 7:30 am ET for a 1.410 million rate after an increase to a 1.507 million pace in March.April housing starts fell by 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg as of 7:30 am ET for a 1.410 million rate after an increase to a 1.507 million pace in March.The Philadelphia Federal Reserve's monthly manufacturing index fell to minus 0.4 in May after rising to 26.7 in April, compared with expectations for a smaller decrease to a reading of 17.8 in a survey compiled by Bloomberg.Traders will be looking ahead to the S&P global flash estimates of May manufacturing and services conditions, which are slated for a 9:45 am ET release, followed by weekly natural gas stocks at 10:30 am ET.The Kansas City Fed's manufacturing index for May will be released at 11 am ET.Richmond Fed President Tom Barkin is due to speak on Thursday.In premarket activity, bitcoin was down by 0.5%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% lower, Ether ETF (EETH) declined 1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) retreated by 0.6%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was flat.Nanobiotix (NBTX) stock was down more than 7% premarket after the company said it launched a global follow-on offering of 75 million euros ($87.2 million).Winners and Losers:EnergyThe iShares US Energy ETF (IYE) gained 0.2%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.5%.Borr Drilling (BORR) stock was down more than 7% before the opening bell after the company reported a wider Q1 net loss.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was up 1%.Hyperliquid Strategies (PURR) shares were up more than 6% pre-bell a day after Chardan raised its price target for the company's stock to $9.75 from $8.45.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.1%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.Deere (DE) stock was down more than 3% before the opening bell after the company reported lower fiscal Q2 earnings.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.8%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.6%. The iShares US Consumer Staples ETF (IYK) was 3.5% higher. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) decreased by 0.2%, while the State Street SPDR S&P Retail ETF (XRT) declined by 0.4%.Kroger (KR) shares were down more than 3% pre-bell after closing the prior session with a 2.7% fall. Chief Executive Officer Greg Foran is looking to implement substantial price cuts to keep the company competitive, Bloomberg reported Thursday, citing an interview with the CEO.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.4%, and the iShares US Technology ETF (IYW) was 0.7% lower, while the iShares Expanded Tech Sector ETF (IGM) was up 0.01%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 04%, while the iShares Semiconductor ETF (SOXX) fell by 0.6%.AMD (AMD) shares were down more than 2% in premarket activity after closing the previous day with a 8% rise. The company said it plans to invest more than $10 billion in Taiwan's artificial intelligence ecosystem and is ramping production of its new EPYC processor in Taiwan using Taiwan Semiconductor Manufacturing's (TSM) 2-nanometer process technology.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.8% to $107.77 per barrel on the New York Mercantile Exchange. Natural gas was up 0.8% at $3.03 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 2.7%, while the United States Natural Gas Fund (UNG) was 0.7% lower.Gold futures for May retreated by 0.4% to $4,517.40 an ounce on the Comex. Silver futures declined by 1.1% to $75.36 an ounce. SPDR Gold Shares (GLD) was down by 0.9%, and the iShares Silver Trust (SLV) fell by 1.6%.

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

US Equity Futures Edge Lower Pre-Bell as Nvidia Stock Flat Despite Earnings Beat, Middle East Peace Talks Drag

US equity futures were edging lower pre-bell Thursday despite upbeat fiscal Q1 financial results posted by Nvidia (NVDA) and amid continued lack of solid progress in the Middle East peace talks.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 0.5% lower.In addition to surpassing analysts' expectations for fiscal Q1 adjusted earnings and revenue, Nvidia raised its quarterly dividend and announced an additional $80 billion share repurchase authorization. However, the company's stock was largely flat in premarket activity.President Donald Trump said the US was ready to resume attacks on Iran if its leadership did not agree to a peace deal, but that it could wait a few days. Iran's Supreme Leader has ordered the country's highly enriched uranium to not be sent abroad, which is one of the main US demands, according to a Reuters report citing two senior Iranian sources.Traders kept an eye on the latest round of earnings, with Walmart (WMT) posting higher fiscal Q1 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $106.80 per barrel and US West Texas Intermediate crude 2.4% higher at $100.62 per barrel.US initial jobless claims fell to a level of 209,000 in the employment survey week ended May 16 from an upwardly revised 212,000 level in the previous week, compared with expectations for a smaller decrease to 210,000 in survey of analysts compiled by Bloomberg as of 7:30 am ET.April housing starts fell by 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg as of 7:30 am ET for a 1.410 million rate after an increase to a 1.507 million pace in March.The Philadelphia Federal Reserve's monthly manufacturing index fell to minus 0.4 in May after rising to 26.7 in April, compared with expectations for a smaller decrease to a reading of 17.8 in a survey compiled by Bloomberg.The May S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen coming in at 53.8.Richmond Federal Reserve President Thomas Barkin is scheduled to speak on Thursday.In other world markets, Japan's Nikkei closed 3.1% higher, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 2% lower. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, Shell (SHEL) stock was up 1.2% and BP (BP) shares rose 1% after the companies, along with Indonesia's PT Perusahaan Gas Negara, and PT PLN Energi Primer Indonesia, signed agreements with Japan's Inpex for liquified natural gas offtake from the Abadi LNG Project at the Masela Block in offshore Indonesia. Shares of IBM (IBM), GlobalFoundries (GFS), and D-Wave Quantum (QBTS) were up after the companies said they are included among the major quantum companies set to receive billions in proposed US government backing. IBM stock was up 5.8%, GlobalFoundries shares rose 13%, and D-Wave Quantum stock was 15% higher.On the losing side, Intuit (INTU) stock was 16% lower after RBC and Northcoast Research cut their price targets for the stock. Palantir Technologies (PLTR) shares were down 1.2% following an Axios report about the company challenging Pentagon's Defense Intelligence Agency over its ability to bid for a contract to modernize the agency's data analytics system.

Dow JonesNasdaq CompositeS&P 500$BP$GFS$IBM$INTU$NVDA$PLTR$QBTS$SHEL$WMT
Japan

US Equity Futures Fall Pre-Bell as Nvidia Stock Flat Despite Earnings Beat, Middle East Peace Talks Drag

US equity futures were falling pre-bell Thursday despite upbeat fiscal Q1 financial results posted by Nvidia (NVDA) and amid continued lack of solid progress in the Middle East peace talks.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.3%, and Nasdaq futures were 0.5% lower.In addition to surpassing analysts' expectations for fiscal Q1 adjusted earnings and revenue, Nvidia raised its quarterly dividend and announced an additional $80 billion share repurchase authorization. However, the company's stock was largely flat in premarket activity.President Donald Trump said the US was ready to resume attacks on Iran if its leadership did not agree to a peace agreement, but that it could wait a few days. Iran's Supreme Leader has ordered the country's highly enriched uranium to not be sent abroad, which is one of the main US demands, according to a Reuters report citing two senior Iranian sources.Traders kept an eye on the latest round of earnings, with Walmart (WMT) posting higher fiscal Q1 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $106.80 per barrel and US West Texas Intermediate crude 2.2% higher at $100.45 per barrel.The weekly jobless claims bulletin, scheduled for release at 8:30 am ET, is expected to show 210,000 new unemployment claims for the week ended May 16, compared with 211,000 in the prior week, according to estimates compiled by Bloomberg. Housing starts for April are expected to come in at 1.41 million.The Philadelphia Fed's regional manufacturing index for May is seen coming in at 17.8, down from 26.7 posted previously.The May S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen coming in at 53.8.Richmond Federal Reserve President Thomas Barkin is scheduled to speak on Thursday.

Dow JonesNasdaq CompositeS&P 500$NVDA$WMT

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