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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.

Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid Big Tech Earnings, Economic Data

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) advanced 0.5% in Thursday's premarket activity, amid optimistic big tech earnings reports and a deluge of economic data.US stock futures were also higher, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures advancing 0.6%, and Nasdaq futures gaining 0.5% before the start of regular trading.Reports releasing at 8:30 am ET include the Q1 gross domestic product (GDP) from Washington, the personal consumption expenditures (PCE)-core inflation report for March, the weekly jobless claims bulletin, and the Q1 Employment Cost Index.The April Chicago PMI posts at 9:45 am, followed by the February leading indicators report at 10 am, and the weekly natural gas stocks at 10:30 am ET.In premarket action, bitcoin was down by 0.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.7% higher, Ether ETF (EETH) advanced 1.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.5%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was up 1.9%.Willis Towers Watson (WTW) shares were down more than 9% pre-bell after the company reported higher Q1 adjusted earnings and revenue.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 1.2%, the Vanguard Health Care Index Fund (VHT) was 1.1% higher, while the iShares US Healthcare ETF (IYH) was up 0.7%. The iShares Biotechnology ETF (IBB) gained 0.2%.Eli Lilly (LLY) stock was up more than 7% premarket after the company reported higher Q1 non-GAAP earnings and revenue.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained by 0.4%, and the iShares US Technology ETF (IYW) was 1% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) rose 2%, while the iShares Semiconductor ETF (SOXX) advanced by 1.3%.Alphabet's (GOOG, GOOGL) shares were up 7% in Thursday's premarket activity after the tech giant reported overnight Q1 earnings and sales above market expectations.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.5%, while the Vanguard Industrials Index Fund (VIS) was up 1.6% and the iShares US Industrials ETF (IYJ) gained 0.4%.Caterpillar (CAT) stock was up more than 5% before the opening bell after the company reported higher Q1 adjusted profit and revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.3%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 0.2% lower, and the iShares US Consumer Staples ETF (IYK) retreated 0.1%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) was up 0.6%. The VanEck Retail ETF (RTH) gained 0.03%, while the State Street SPDR S&P Retail ETF (XRT) declined by 0.6%.Unilever (UL) shares were up more than 2% pre-bell after the company said its Q1 underlying sales grew by 3.8%.EnergyThe iShares US Energy ETF (IYE) was down 0.9%, while the State Street Energy Select Sector SPDR ETF (XLE) declined by 1.1%.ConocoPhillips (COP) stock was down more than 2% before the opening bell after the company reported lower Q1 adjusted earnings and revenue.CommoditiesFront-month US West Texas Intermediate crude oil fell by 2.3% to $104.44 per barrel on the New York Mercantile Exchange. Natural gas retreated by 1.4% to $2.61 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 2.6%, while the United States Natural Gas Fund (UNG) was 1.5% lower.Gold futures for May were up by 1.8% to $4,641.80 an ounce on the Comex. Silver futures rose by 2.6% to $73.96 an ounce. SPDR Gold Shares (GLD) was 1.9% higher, and the iShares Silver Trust (SLV) gained by 2.7%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$CAT$COP$EEM$EETH$EXI$FAS$FAZ$GLD$GOOG$GOOGL$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LLY$PMR$QQQ$RTH$SLV$SOXX$SPY$UL$UNG$USO$VDC$VHT$VIS$WTW$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Japan

Big Tech Earnings, Fed Rate Decision Nudge US Equity Futures Higher Pre-Bell

US equity futures were higher pre-bell Thursday as traders absorbed the latest round of financial results, including those of big tech, amid the Federal Open Market Committee maintaining its target rate.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.5% lower.Alphabet (GOOG, GOOGL), Amazon (AMZN), and Meta Platforms (META) all reported higher earnings and revenue for Q1, while Microsoft (MSFT) posted an increase in fiscal Q3 adjusted earnings and revenue. Apple (AAPL) is expected to publish its fiscal Q2 financial results after-market.The Federal Open Market Committee maintained the target range for its federal funds rate at 3.50% to 3.75%, as expected, but the level of dissent was reportedly the highest since 1992, with four officials dissenting.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.5% at $108.81 per barrel and US West Texas Intermediate crude 2.4% lower at $104.30 per barrel.The March core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, scheduled for release at 8:30 am ET, is expected to increase 0.3%, compared with the prior month's gain of 0.4%, according to estimates compiled by Bloomberg.Initial jobless claims are projected to have declined to 212,000 in the week ended April 25 from 214,000 in the prior week. The advance estimate for Q1 GDP is seen coming in at 2.3%, up from 0.5% in the previous quarter.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$GOOG$GOOGL$META$MSFT
US Markets

Stocks Mostly Up Pre-Bell as Traders Digest Big Tech Earnings, Await Key Inflation Report

US equity markets were mostly pointing higher before the opening bell Thursday as investors digest the latest financial results from some of the biggest technology companies and await a key inflation report.The S&P 500 rose 0.1% and the Nasdaq added 0.2% in premarket activity, while the Dow Jones Industrial Average declined 0.2%. The indexes finished the previous trading session mixed.Shares of Meta Platforms (META) fell 8.8% pre-bell after the Facebook parent lifted its full-year capital expenditure guidance mainly due to higher component pricing, even though it reported stronger-than-expected first-quarter results. Microsoft (MSFT) decreased 1.8% as the tech giant said its capital expenditures will be about $190 billion in 2026, while its fiscal third-quarter results topped market estimates."It's crystal clear to us that the (artificial intelligence) revolution is accelerating at a warp speed pace with 2026 being an inflection point year for AI with hyperscalers now investing over $700 billion in (capital expenditures) in (2026) to capitalize on the opportunities in the space," Wedbush Securities said in a Thursday client note.Alphabet's (GOOG, GOOGL) class A and C shares climbed more than 6% each amid upbeat first-quarter results. Amazon (AMZN) inclined 2.5% as the e-commerce giant issued a strong second-quarter revenue outlook.iPhone maker Apple (AAPL) is scheduled to release its quarterly earnings after the markets close. Eli Lilly (LLY), Mastercard (MA), Caterpillar (CAT), Merck (MRK), Royal Caribbean Cruises (RCL) and Hershey (HSY) are slated to announce their results before the bell, among others.The personal income and outlays report for March is due to be released at 8:30 am ET. The report includes the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric.The central bank's Federal Open Market Committee left its benchmark interest rate unchanged on Wednesday as policymakers saw the Middle East conflict fueling uncertainty around the US economic outlook. In a post-meeting press conference, Jerome Powell said he will stay on as a Fed governor for an indefinite period after his term as Fed chief expires on May 15.The US Senate Banking Committee on Wednesday voted to advance Kevin Warsh's nomination as Fed chair to the Republican-controlled Senate.Treasury yields were down in premarket action, with the two-year rate retreating 3.2 basis points to 3.9% and the 10-year rate off 1.8 basis points to 4.4%.President Donald Trump is expected to receive a briefing on fresh potential military options against Iran on Thursday, Axios reported, citing two sources with knowledge. Trump recently told the news outlet that he will maintain the US naval blockade of Iranian ports until Tehran agrees to a nuclear deal.West Texas Intermediate crude oil slipped 0.2% to $106.62 a barrel before the open, while Brent decreased 1.6% to $116.20.Thursday's economic calendar also has the initial estimate report for the first-quarter gross domestic product at 8:30 am, along with the weekly jobless claims bulletin. The Chicago purchasing managers' index for April posts at 9:45 am.Gold rose 1.8% to $4,642 per troy ounce, while bitcoin moved 0.7% higher to $75,974.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$CAT$GOOG$GOOGL$HSY$LLY$MA$META$MRK$MSFT$RCL
International

Earnings Lift Wall Street Pre-Bell; Asia Off, Europe Up

Wall Street futures pointed moderately higher pre-bell Thursday as traders weighed a generally strong earnings season, but kept wary eyes on oil prices and interest rates.In the futures, the S&P 500 rose 0.2%, the Nasdaq inclined 0.3%, and the Dow Jones was up 0.8%.Investors also await the advance estimate for Q1 gross domestic product (GDP) from Washington, slated for an 8:30 am ET release, along with the personal consumption expenditures (PCE)-core inflation report for March.Qualcomm (QCOM) traded up 11.7% pre-bell after the semiconductor and telecom giant reported fiscal Q2 EPS and revenue late Wednesday that topped expectations, and issued positive guidance regarding China smartphone sales and traction with a hyperscaler customer.Alphabet (GOOG, GOOGL) gained 7.1% in pre-market trades after the search-engine colossus reported strong Q1 earnings and sales late Wednesday.Merck (MRK) traded up 5.5% pre-bell after the drugmaker reported Q1 results above consensus, and boosted guidance early Thursday.Asian exchanges traded mostly lower overnight, while European bourses tracked moderately higher at midday.On the economic calendar, in addition to the GDP and PCE-core reports, is the weekly jobless claims bulletin at 8:30 am ET, along with the Q1 Employment Cost Index.The April Chicago PMI logs at 9:45 am, followed by the February leading indicators report at 10 am.In pre-market action, Bitcoin traded at $76,073, West Texas Intermediate crude oil traded higher at $107.18, and 10-year US Treasuries offered 4.40%. Spot gold commanded $4,636 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

US Equity Indexes Close Mixed as Crude Oil, Treasury Yields Jump; Fed Policy Faces Growing Dissent

US equity indexes closed mixed on Wednesday as crude oil futures and government bond yields rose amid concern that no end is in sight for the Iran war.The Federal Open Market Committee maintained its target rate at a policy meeting, but beneath that outcome, the level of dissent was, reportedly, the highest since 1992. Separately, Fed Chair Jerome Powell said he would stay as governor "at least" until the central bank's legal challenges are resolved.The Dow Jones Industrial Average fell 0.6% to 48,861.81 at the close. The S&P 500 slipped less than 0.1% to 7,135.95 while the Nasdaq Composite rose less than 0.1% to 24,673.24. Utilities and materials were among decliners, while energy led the top gainers.President Donald Trump has instructed aides to prepare for an extended blockade of Iran, US officials told The Wall Street Journal. In recent meetings, including a Monday discussion in the Situation Room, Trump opted to continue squeezing Iran's economy and oil exports by preventing shipping to and from its ports, the WSJ reported."The blockade is somewhat more effective than the bombing," Trump told Axios on Wednesday. "They are choking like a stuffed pig. And it is going to be worse for them. They can't have a nuclear weapon."West Texas Intermediate crude oil futures soared 8.3% to $108.19, and Brent crude futures surged 7.8% to $119.95 amid concern that Trump's policy will prolong disruption in the Strait of Hormuz, the chokepoint for 20% of global crude oil flows.In precious metals, gold futures declined 1.1% to $4,557.9 and silver futures slid 2.7% to $71.24, as higher crude oil prices triggered inflation concerns.Most US Treasury yields rose, with the 10-year jumping seven basis points to 4.42% and the two-year catapulting 10.1 basis points to 3.95%.The FOMC maintained its target rate at 3.50% to 3.75%, as expected, but four officials dissented, its statement showed late Wednesday. The Fed, in its statement, maintained language stating the "extent and timing of additional adjustments," which implies a lingering bias toward additional rate cuts, according to a Stifel note."At the very least, the cohort of dissents sends a signal to both the market and new leadership that many agree the data do not support any additional accommodation at this point, and any push to implement such will potentially face fierce opposition," Lindsey Piegza, chief economist at Stifel, said in the note.Fed Governor Stephen Miran again sought a 25-basis-point rate cut. Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan supported holding rates steady but "did not support inclusion of an easing bias in the statement at this time," according to the Fed.Chair Powell said he will continue to serve as a Fed Governor after his term as chair ends next month. Powell's term as governor is due to end in January 2028, but he could leave before the expiry. "I will stay until it is appropriate for me to leave."

Dow JonesNasdaq CompositeS&P 500
US Markets

Equities Mixed Following Fed Pause; Oil Gains

US equities closed mixed Wednesday after the Federal Reserve kept interest rates steady at the end of what was likely Jerome Powell's last policy meeting as central bank chief.The Dow Jones Industrial Average fell 0.6% to 48,861.8, while the Nasdaq Composite and the S&P 500 were little changed at 24,673.2 and 7,136, respectively. Most sectors ended in the red, led by utilities, while energy paced the gainers.The central bank's Federal Open Market Committee left its policy rate unchanged as policymakers saw the Middle East conflict fueling uncertainty around the US economic outlook.In a post-meeting press conference, Powell said he will stay on as a Fed governor for an indefinite period after his term as Fed chief expires on May 15. Earlier in the day, the US Senate Banking Committee voted to advance Kevin Warsh's nomination as Fed chair to the Republican-controlled Senate.Fed Governor Stephen Miran dissented from the majority at the meeting, preferring to reduce rates by a quarter percentage point, the FOMC said. Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari and Dallas Fed President Lorie Logan supported the policy decision, but opposed including an easing bias in the statement.There were only minor changes to the policy statement, but overall sentiment "leaned slightly hawkish, with several participants voting against maintaining the current easing bias," TD Economics said in a report."It seems very unlikely that a Warsh Fed will quickly pivot to lowering interest rates," TD Senior Economist Thomas Feltmate said in a note. "Decisions are made by a majority vote, and it's becoming clear that many participants are reluctant to take rates any lower amid a resilient economy and still elevated inflationary pressures."Oil prices surged after President Donald Trump reportedly rejected an Iranian proposal to lift a US naval blockade. Brent crude was last up 7.5% at $119.62 per barrel, while West Texas Intermediate crude jumped 7.8% to $107.70.Trump told Axios on Wednesday he will maintain the US naval blockade of Iranian ports until Tehran agrees to a nuclear deal. Iran wanted the Strait of Hormuz opened before the two sides could sit down to discuss uranium enrichment at a later stage.In a social media post on Wednesday, Trump said Iran "better get smart soon.""Crude oil has resumed its war-driven rally, with Brent rising almost non-stop since a brief mid-month tumble to ($86 per barrel), when hopes for a peace deal and a short-lived reopening of the Strait of Hormuz triggered a sharp but temporary correction," Saxo Bank Head of Commodity Strategy Ole Hansen said in a report Wednesday.US Treasury yields were higher, with the 10-year rate up 6.4 basis points at 4.42% and the two-year rate rising 9.1 basis points to 3.94%.In company news, Visa (V) shares jumped 8.3%, the biggest gain on the Dow, after the payments giant lifted its full-year growth outlook and reported better-than-expected fiscal second-quarter results.NXP Semiconductors (NXPI) shares surged nearly 26%, the best performer on the S&P 500, after the company reported fiscal first-quarter results late Tuesday.Brown-Forman (BF.A, BF.B) class B shares slumped 10%, among the steepest declines on the S&P 500. The company said late Tuesday that it and Pernod Ricard terminated discussions regarding a potential business combination.Gold fell 1% at $4,560.50 per troy ounce, while silver dropped 1.5% to $72.14 per ounce.

Dow JonesNasdaq CompositeS&P 500$BF.A$BF.B$NXPI$V
International

US Equity Markets Mixed as Crude Oil Surges, Fed Holds Rates Steady

US equity indexes were mixed on Wednesday after crude oil prices and government bond yields rose amid the increasing likelihood that the Strait of Hormuz will remain blocked and the Fed maintained interest rates unchanged.* President Donald Trump has instructed aides to prepare for an extended blockade of Iran, US officials told The Wall Street Journal.* The Federal Open Market Committee maintained its federal funds rate target at 3.50% to 3.75%, as expected, but four officials dissented, according to its statement Wednesday.* US March housing starts jumped almost 11% to a 1.502 million annual rate from a 1.356 million pace in February, above the 1.38 million rate expected in a Bloomberg-compiled survey.* June West Texas Intermediate crude oil rose $8.01 to settle at $107.94 per barrel, while June Brent crude, the global benchmark, was last seen up $8.69 at $119.95.* NXP Semiconductors (NXPI) shares were up roughly 25% after the company reported overnight higher Q1 non-GAAP earnings and revenue that beat analysts' forecasts in addition to setting higher-than-expected Q2 guidance.* Robinhood (HOOD) shares fell nearly 13% after it reported Q1 earnings and revenue that missed analysts' expectations.

Dow JonesNasdaq CompositeS&P 500$HOOD$NXPI
Japan

US Equity Indexes Fall Amid Surge in Crude Oil Prices, Dissent in Fed Policy Highest in Over 3 Decades

US equity indexes fell ahead of Wednesday's close as crude oil futures and government bond yields rose amid concern that no end is in sight for the Iran war.The Federal Open Market Committee maintained its target rate at a policy meeting, but beneath that outcome, the level of dissent was, reportedly, the highest since 1992. Fed Chair Jerome Powell said in a press conference after the meeting that he could stay as governor "at least" until the central bank's legal challenges are resolved.Index heavyweights Alphabet (GOOG, GOOGL), Amazon.com (AMZN), Meta Platforms (META), and Microsoft (MSFT) will report quarterly earnings after the bell, adding to frayed nerves as investors await the latest read on the hyperscalers' capital expenditure plans.The Dow Jones Industrial Average fell 0.6% to 48,860.1, with the S&P 500 down 0.1% to 7,129.2. The Nasdaq Composite slipped 0.1% to 24,639.5.President Donald Trump has instructed aides to prepare for an extended blockade of Iran, US officials told The Wall Street Journal. In recent meetings, including a Monday discussion in the Situation Room, Trump opted to continue squeezing Iran's economy and oil exports by preventing shipping to and from its ports, the WSJ reported.West Texas Intermediate crude oil futures jumped 8.2% to $108.15, and Brent crude futures surged 7.8% to $119.97 amid concern that Trump's policy will prolong disruption in the Strait of Hormuz, the chokepoint for 20% of global crude oil flows.The FOMC maintained its target rate at 3.50% to 3.75%, as expected, but four officials dissented, its statement showed late Wednesday.Fed Governor Stephen Miran again sought a 25-basis-point rate. Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan supported holding rates steady but "did not support inclusion of an easing bias in the statement at this time," according to the statement.Chair Powell said he will continue to serve as a Fed Governor after his term as chair ends next month. Powell's term as governor is due to end in January 2028, but he could leave before the expiry. "I will stay until it is appropriate for me to leave."

Dow JonesNasdaq CompositeS&P 500$AMZN$GOOG$GOOGL$META$MSFT
US Markets

Equities Fall Intraday Ahead of Fed Rate Decision; Oil Prices Jump

US benchmark equity indexes were lower intraday ahead of the Federal Reserve's monetary policy decision.The Dow Jones Industrial Average was down 0.6% at 48,825.5 after midday, while the Nasdaq Composite lost 0.4% to 24,560.8. The S&P 500 fell 0.3% to 7,117. Barring energy, all sectors were in the red, led by industrials.Markets widely expect the US central bank's policy committee to keep its benchmark lending rate unchanged for a third consecutive meeting. Fed Chair Jerome Powell will hold a press conference at 2:30 pm ET.Ahead of the rate decision, the US Senate Banking Committee voted Wednesday to advance Kevin Warsh's nomination as Fed chair to the Republican-controlled Senate.Warsh is President Donald Trump's pick to replace Powell, whose term as Fed chief expires on May 15. Trump has repeatedly criticized Powell for the central bank's cautious view on lowering interest rates.Today's monetary policy meeting could be Powell's last as Fed chief should the full Senate confirm Warsh in the week of May 11. Powell's term on the Fed's Board of Governors runs through January 2028, though its unclear if he would exit the Fed or decide to stay on.Oil prices surged Wednesday after Trump reportedly rejected an Iranian proposal to lift the naval blockade. Brent crude was up 7.1% at $119.20 per barrel, while West Texas Intermediate crude jumped 6.9% to $106.79.Trump told Axios on Wednesday he will maintain the US naval blockade of Iranian ports until Tehran agrees to a nuclear deal. Iran wanted the Strait of Hormuz opened before the two sides could sit down to discuss uranium enrichment at a later stage.In a social media post on Wednesday, Trump said Iran "better get smart soon.""Crude oil has resumed its war-driven rally, with Brent rising almost non-stop since a brief mid-month tumble to ($86 per barrel), when hopes for a peace deal and a short-lived reopening of the Strait of Hormuz triggered a sharp but temporary correction," Saxo Bank Head of Commodity Strategy Ole Hansen said in a report Wednesday.US Treasury yields were higher intraday, with the 10-year rate up 5.3 basis points at 4.41% and the two-year rate rising 6.4 basis points to 3.91%.Magnificent 7 companies Alphabet (GOOG, GOOGL), Microsoft (MSFT), Amazon (AMZN), and Meta Platforms (META) are scheduled to release quarterly results after the markets close.In company news, Visa (V) shares were up 9.1% intraday, the biggest gain on the Dow, after the payments giant lifted its full-year growth outlook and reported better-than-expected fiscal second-quarter results.Wingstop (WING) reduced its 2026 domestic same-store sales outlook as the restaurant chain reported weaker-than expected first quarter revenue. The stock was down 4.1% intraday.Gold fell 1% at $4,563.80 per troy ounce, while silver dropped 1.5% to $72.13 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMZN$GOOG$GOOGL$META$MSFT$V$WING
Asia Markets

Exchange-Traded Funds Lower as US Equities Fall After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM and IVV declined. Actively traded Invesco QQQ Trust (QQQ) edged up 0.1%.US equity indexes traded lower after midday Wednesday as crude oil futures and government bond yields jumped amid concern that Iran's blockade will be extended to force Tehran into a peace deal.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 1.8%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was up 0.2%; iShares US Technology ETF (IYW) fell 0.2%, and iShares Expanded Tech Sector ETF (IGM) rose fractionally.The State Street SPDR S&P Semiconductor (XSD) climbed up 3.6%, and iShares Semiconductor (SOXX) was up 1.5%.FinancialThe State Street Financial Select Sector SPDR (XLF) eased 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), gained 0.1%.CommoditiesCrude oil rose 6.9%, and the United States Oil Fund (USO) gained 6.9%. Natural gas was down 1.7%, and the United States Natural Gas Fund (UNG) fell 1.8%.Gold on Comex slipped 1%, and the State Street SPDR Gold Shares (GLD) fell 1.1%. Silver declined 1.5%, and iShares Silver Trust (SLV) was down 2.1%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) eased 0.1%. The Vanguard Consumer Staples ETF (VDC) edged lower, and iShares Dow Jones US Consumer Goods (IYK) was 0.1% higher.The State Street Consumer Discretionary Select Sector SPDR (XLY) dipped 0.4%. VanEck Retail ETF (RTH) eased 0.2%, and the State Street SPDR S&P Retail (XRT) was down 0.7%.Health CareThe State Street Health Care Select Sector SPDR (XLV) shed 0.7%, iShares US Healthcare (IYH) fell 0.6%, and Vanguard Health Care ETF (VHT) was 0.7% lower. IShares Biotechnology ETF (IBB) slipped 1.6%.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) fell 0.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) dipped 0.8%, ProShares Ether ETF (EETH) lost 1.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was up 0.2%.

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 Fall Amid Surge in Crude Oil, Treasury Yields as Iran Peace Deal Proves Elusive

US equity indexes traded lower after midday on Wednesday as crude oil futures and government bond yields jumped amid concern that Iran's blockade will be extended to force Tehran into a peace deal.Index heavyweights Alphabet (GOOG, GOOGL), Amazon.com (AMZN), Meta Platforms (META), and Microsoft (MSFT) will report quarterly earnings after the bell, adding to frayed nerves as investors await the latest read on the hyperscalers' capital expenditure plans.The Dow Jones Industrial Average fell 0.6% to 48,853.3, with the S&P 500 down 0.2% to 7,121.9 and the Nasdaq Composite 0.4% lower at 24,572.2. All sectors except energy fell, with materials and industrials leading the decliners intraday.President Donald Trump has instructed aides to prepare for an extended blockade of Iran, US officials told The Wall Street Journal. In recent meetings, including a Monday discussion in the Situation Room, Trump opted to continue squeezing Iran's economy and oil exports by preventing shipping to and from its ports, the WSJ said.Trump assessed with his aides that the other options open to him -- resume bombing or walk away from the conflict -- carried more risk than maintaining the country's blockade, the officials told the WSJ."Iran can't get their act together. They don't know how to sign a non-nuclear deal. They'd better get smart soon!" Trump said in a Wednesday Truth Social post.Meanwhile, West Texas Intermediate crude oil futures jumped 6.7% to $106.70, and Brent crude futures surged 6.8% to $118.87 amid concern that Trump's policy will prolong disruption in the Strait of Hormuz, the chokepoint for 20% of global crude oil flows.In precious metals, gold futures dropped 0.7% to $4,575.00, and silver futures slumped 2% to $72.30, as higher crude oil prices raised inflation concerns. Most US Treasury yields rose, with the 10-year up 4.6 basis points to 4.40%, the highest in about a month. The two-year jumped seven basis points to 3.91%.The Federal Reserve's Federal Open Market Committee will make its latest policy announcement at 2 pm ET, followed by a press conference by Fed Chair Jerome Powell. The panel is certain to leave interest rates unchanged at the current target rate of 3.5% to 3.75%, according to the CME's FedWatch tool.If the Iran war lasts longer, Central banks that haven't adopted more explicit tightening biases, such as the Fed, and/or where inflation has been running above target, also such as the Fed, may be seen behind the curve, according to a Macquarie note. "We would then expect to see a more hawkish tone and action emerge by May."In economic news, US March housing starts jumped almost 11% to a 1.502 million annual rate from a 1.356 million pace in February, above the 1.38 million rate expected in a Bloomberg-compiled survey.Building permits plunged nearly 11% to a 1.372 million rate in March, below the 1.39 million rate expected and following the 1.538 million rate reported in February.

Dow JonesNasdaq CompositeS&P 500$AMZN$GOOG$GOOGL$META$MSFT
Japan

US Equity Indexes Fall as Iran War Deadlock Sends Crude Oil, Treasury Yields Sharply Higher

US equity indexes traded lower around midday Wednesday as crude oil futures and government bond yields rose amid concern that Iran's blockade will be extended to force Tehran into a peace deal.The Dow Jones Industrial Average fell 0.7% to 48,789.2, with the S&P 500 down 0.2% to 7,122.9. The Nasdaq Composite was 0.2% lower at 24,620.7.President Donald Trump has instructed aides to prepare for an extended blockade of Iran, US officials told The Wall Street Journal. In recent meetings, including a Monday discussion in the Situation Room, Trump opted to continue squeezing Iran's economy and oil exports by preventing shipping to and from its ports, the WSJ said.Trump assessed with his aides that the other options open to him -- resume bombing or walk away from the conflict -- carried more risk than maintaining the country's blockade, the officials told the WSJ."Iran can't get their act together. They don't know how to sign a nonnuclear deal. They better get smart soon!" Trump said in a Truth Social post Wednesday.Meanwhile, West Texas Intermediate crude oil futures jumped 4.9% to $104.86, and Brent crude futures surged 5% to $116.85 amid concern that Trump's policy will prolong disruption in the Strait of Hormuz, the chokepoint for 20% of global crude oil flows.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Wednesday Ahead of Fed Policy Decision

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.02% and the actively traded Invesco QQQ Trust (QQQ) was 0.3% higher in Wednesday's premarket activity, ahead of the Federal Open Market Committee's policy decision.US stock futures were mixed, with S&P 500 Index futures up 0.01%, Dow Jones Industrial Average futures retreating 0.03%, and Nasdaq futures gaining 0.3% before the start of regular trading.The US Federal Reserve's Federal Open Market Committee will make its latest policy announcement at 2 pm ET, followed by a press conference by Fed Chair Jerome Powell.Mortgage applications declined in the week ending April 24 after a large increase in the previous week, as mortgage rates rose slightly, according to the Mortgage Bankers Association Wednesday.US housing starts rose to an annual pace of 1.502 million in March, topping forecasts of 1.38 million and increasing from 1.356 million previously.In March, US building permits fell to an annual rate of 1.372 million, missing expectations of 1.39 million and declining from 1.538 million in the prior reading.Durable goods orders rose 0.8% in March, beating expectations for a 0.5% increase and marking a rebound from the previous 1.2% drop.Weekly petroleum stocks data are due to be released at 10:30 am ET, followed by the Atlanta Federal Reserve Survey of Business Uncertainty for April at 11 am ET.In premarket activity, bitcoin was up by 1.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.8% higher, Ether ETF (EETH) advanced 1.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 0.01%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 0.7%, and the iShares US Technology ETF (IYW) was 0.5% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.8%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 1.6%, while the iShares Semiconductor ETF (SOXX) rose by 1.8%.United Microelectronics (UMC) shares were up more than 8% in Wednesday's premarket activity after the company reported Q1 earnings and revenue.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.7%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.6% lower.UBS Group (UBS) shares were up more than 5% pre-bell after the company reported higher Q1 earnings and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was down 1.1%.AerCap Holdings (AER) stock was up more than 5% before the opening bell after the company reported higher Q1 revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.4%, the Vanguard Health Care Index Fund (VHT) lost 0.3%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was flat.GSK (GSK) stock was down more than 4% premarket even after the company reported higher Q1 core earnings and revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated by 0.1%. The iShares US Consumer Staples ETF (IYK) advanced 0.5%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.4%. The VanEck Retail ETF (RTH) gained 0.1%, while the State Street SPDR S&P Retail ETF (XRT) was 0.2% lower.Yum China (YUMC) shares were up more than 3% pre-bell after the company reported Q1 adjusted earnings and revenue.EnergyThe iShares US Energy ETF (IYE) was up 0.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1.2%.Phillips 66 (PSX) stock was up more than 1% before the opening bell after the company reported it swung to Q1 adjusted earnings.CommoditiesFront-month US West Texas Intermediate crude oil rose by 3.3% to $103.22 per barrel on the New York Mercantile Exchange. Natural gas retreated by 1.3% to $2.66 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 3.4%, while the United States Natural Gas Fund (UNG) was 1.3% lower.Gold futures for May were down by 0.7% at $4,576.40 an ounce on the Comex. Silver futures retreated by 0.9% to $73.05 an ounce. SPDR Gold Shares (GLD) was 0.6% lower, and the iShares Silver Trust (SLV) fell by 0.6%.

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

US Equity Futures Largely Flat Pre-Bell as Traders Await Tech Earnings, Fed Rate Decision

US equity futures were largely flat pre-bell Wednesday as traders anticipated the financial results from four of the "Magnificent Seven" and the Federal Reserve's latest policy announcement.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were down 0.1% and Nasdaq futures were 0.2% higher.Slated to report quarterly earnings after-market today are Alphabet (GOOG, GOOGL), Microsoft (MSFT), Amazon (AMZN), and Meta Platforms (META), among others.The Federal Open Market Committee is widely expected to maintain the target range for its federal funds rate at 3.50% to 3.75% at its meeting today. Federal Reserve Chairman Jerome Powell is due to leave his post before the next committee meeting in June but has said he will remain until his named replacement, Kevin Warsh, is confirmed.The committee's statement following the meeting is due for release at 2 pm ET, with Fed Chair Powell's press conference scheduled to begin at 2:30 pm ET.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.8% at $108.34 per barrel and US West Texas Intermediate crude 4% higher at $103.93 per barrel.Durable goods new orders rose 0.8% in March after a 1.2% decrease in the prior month, compared with expectations for a 0.5% gain in a survey of analysts compiled by Bloomberg.Housing starts rose to an annual rate of 1.502 million in March, exceeding expectations for 1.38 million and above the 1.356 million pace in the prior month.The US advance international trade in goods deficit widened to $87.87 billion in March from $83.49 billion in the previous month, compared with expectations for $88 billion.In other world markets, Japan's Nikkei closed 1% lower, Hong Kong's Hang Seng ended 1.7% higher, and China's Shanghai Composite finished 0.7% higher. Meanwhile, the UK's FTSE 100 was down 1%, and Germany's DAX index was flat in Europe's early afternoon session.In equities, Seagate Technology (STX) shares were up 16% after the company posted fiscal Q3 non-GAAP earnings and revenue that beat analysts' estimates, in addition to issuing a better-than-expected fiscal Q4 outlook. NXP Semiconductors (NXPI) stock was up 21% after the company reported fiscal Q1 non-GAAP earnings and revenue that surpassed analysts' consensus and also setting higher-than-expected fiscal Q2 guidance. Visa (V) shares were up 5.7% after the company posted a fiscal Q2 adjusted earnings and revenue beat.On the losing side, Robinhood Markets (HOOD) shares dropped 12% after the company reported Q1 earnings and revenue that fell short of analysts' consensus. Booking (BKNG) and Deutsche Bank (DB) saw their stock decline 4.8% and 3.1%, respectively, despite posting higher Q1 adjusted earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$AMZN$BKNG$DB$GOOG$GOOGL$HOOD$META$MSFT$NXPI$STX$V
Japan

US Equity Futures Largely Flat as Traders Await Tech Earnings, Fed Rate Decision

US equity futures were largely flat pre-bell Wednesday as traders looked forward to the financial results from four of the "Magnificent Seven" and the Federal Reserve's latest policy announcement, in what could be Jerome Powell's final policy meeting as chair.Dow Jones Industrial Average futures and S&P 500 futures were flat, and Nasdaq futures were 0.3% higher.Slated to report quarterly earnings after-market today are Alphabet (GOOG, GOOGL), Microsoft (MSFT), Amazon (AMZN), and Meta Platforms (META), among others.The Federal Open Market Committee is widely expected to maintain the target range for its federal funds rate at 3.50% to 3.75% at its meeting today. Federal Reserve Chairman Jerome Powell is due to leave his post before the next committee meeting in June but has said he will remain until his named replacement, Kevin Warsh, is confirmed.The committee's statement following the meeting is due for release at 2 pm ET, with Fed Chair Powell's press conference scheduled to begin at 2:30 pm ET.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3% at $107.54 per barrel and US West Texas Intermediate crude 3.3% higher at $103.26 per barrel.The March durable goods orders report, scheduled for release at 8:30 am ET, is expected to show a 0.5% gain after a decline of 1.3% in the prior month, according to estimates compiled by Bloomberg.Housing starts for March are expected to come in at 1.38 million, and the advance international trade in goods deficit is seen widening to $88 billion from $83.50 billion in the prior month. Both reports are also due 8:30 am ET.

Dow JonesNasdaq CompositeS&P 500$AMZN$GOOG$GOOGL$META$MSFT
US Markets

Equity Futures Rise Ahead of Mega-Cap Tech Earnings, Fed Decision

US equity futures were pointing higher Wednesday as traders awaited the latest quarterly results of four mega-cap technology companies and the Federal Reserve's monetary policy decision.The Nasdaq was up 0.4% before the bell, while the S&P 500 and the Dow Jones Industrial Average rose 0.1% each. The indexes closed the previous trading session in the red.Tech giants Alphabet (GOOG, GOOGL), Microsoft (MSFT), Amazon (AMZN), and Meta Platforms (META) are scheduled to release quarterly results after the markets close, while AbbVie (ABBV) and General Dynamics (GD) will post before the bell, among others.The Fed's monetary policy committee will announce its latest decision on interest rates later in the day. Markets widely expect the central bank to keep its benchmark lending rate unchanged for a third consecutive meeting. Fed Chair Jerome Powell will hold a press conference at 2:30 pm ET."Investors will be listening closely for an updated assessment of economic conditions, particularly inflation, in the wake of the ongoing conflict overseas," Stifel said in a note. "A rising level of concern could signal a willingness to hold rates steady for a prolonged period of time or even open up the possibility of a rate hike, while any mention of a temporary or expected 'transitory' impact will likely bolster expectations for a potential return to rate cuts."The Senate Banking Committee is set to vote Wednesday on Trump's nominee for the next Fed chair, Kevin Warsh, Reuters reported.Treasury yields were trending upwards in premarket action, with the two-year rate advancing 1.7 basis points to 3.86% and the 10-year rate adding one basis point to 4.36%.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am ET. Data on durable goods orders for March and housing starts and permits reports for February and March are out at 8:30 am. The weekly EIA domestic petroleum inventories report posts at 10:30 am.West Texas Intermediate crude oil rose 3.4% to $103.32 a barrel before the opening bell, while Brent gained 2.9% to $114.35.US President Donald Trump has told aides to prepare for an extended blockade of Iran to pressure Tehran over its nuclear program, The Wall Street Journal reported, citing US officials. Trump believes resuming strikes on Iran or ending the conflict would carry higher risks than maintaining the US blockade of Iranian ports, which began recently, the report said.Mediators in Pakistan expect to get a revised proposal from Iran to end the war in the next few days, CNN reported, citing sources.The United Arab Emirates on Tuesday said it has decided to leave the Organization of the Petroleum Exporting Countries. The move would make the cartel "structurally weaker" as the UAE is one of the few OPEC members that have spare capacity, Rystad Energy said in a note.Shares of NXP Semiconductors (NXPI) and Seagate (STX) rose 18% each before the bell following their latest quarterly results. Starbucks (SBUX) was up 4.1% as the coffee giant raised its full-year outlook late Tuesday.Robinhood Markets (HOOD) plunged 11% after its quarterly results fell short of Wall Street's estimates overnight.Gold slipped 0.6% to $4,580 per troy ounce, while bitcoin gained 1.7% to $77,547.

Dow JonesNasdaq CompositeS&P 500$ABBV$AMZN$GD$GOOG$GOOGL$HOOD$META$MSFT$NXPI$SBUX$STX
International

Tech Optimism Lifts Wall Street Pre-Bell; Asia Mixed, Europe Off

Wall Street futures pointed modestly higher pre-bell Wednesday after a strong Seagate Technology (STX) earnings report, released overnight, signaled AI demand boom for data storage tech continues.In the futures, the S&P 500 rose 0.1%, the Nasdaq inclined 0.3% and the Dow Jones was marginally up.Seagate Technology shares traded up 17.6% pre-bell after the data storage device maker reported better-than-expected fiscal Q3 non-GAAP EPS and revenue, and issued upbeat guidance late Tuesday.Peer data storage enterprises also gained pre-bell, including Western Digital (WDC), up 10.7%, and SanDisk (SNDK), up 7.3%.Tech titans Alphabet (GOOG, GOOGL), Microsoft (MSFT), Amazon.com (AMZN) and Meta Platforms (META) are slated to report earnings after-bell.Traders also await the 2 pm ET rate announcement from the Federal Reserve, although the CME Group Fedwatch tool predicts a 100% chance the central bank will hold steady. Chair Jerome Powell's 2:30 pm press conference will be parsed for clues to Fed mood.Asian exchanges were mixed overnight, with Seoul's KOSPI Index striking a fresh all-time zenith. European bourses edged lower midday on the continent.On the economic calendar at 8:30 am ET is the durable goods orders bulletin for March, the housing starts and building permits bulletins for March, the international trade in goods release for March, and the retail and wholesale inventories reports for March.The weekly EIA petroleum status report posts at 10:30 am.The Atlanta Federal Reserve Survey of Business Uncertainty for April logs at 11 am.In premarket action, Bitcoin traded at $77,846, West Texas Intermediate crude oil traded up 3.5% at $103.40, and 10-year US Treasuries offered 4.36%. Spot gold commanded $4,567 an ounce.

Dow JonesNasdaq CompositeS&P 500$AMZN$GOOG$META$MSFT$STX
US Markets

Nasdaq, S&P 500 Retreat From Record Highs as Tech Stocks Fall

The Nasdaq Composite and the S&P 500 retreated from record highs as technology stocks fell following a report flagging potential trouble at artificial intelligence leader OpenAI.The Nasdaq fell 0.9% to 24,663.8, while the S&P 500 shed 0.5% to 7,138.8. The Dow Jones Industrial Average edged down 0.1% to 49,141.9. Six of the 11 sectors were in the green, led by energy, while technology saw the steepest decline.Tech bellwether Nvidia (NVDA) lost 1.6%, the second-worst performer on the Dow. Broadcom (AVGO), Advanced Micro Devices (AMD), Oracle (ORCL), and Intel (INTC) also declined.OpenAI recently missed its own targets for new users and revenue, The Wall Street Journal reported. Chief Financial Officer Sarah Friar told other companies that OpenAI may not be able to pay for computing contracts if revenue growth doesn't accelerate, The Journal reported.Wedbush Securities dismissed such concerns."Overall, we believe OpenAI has been tracking very high demand on both the consumer and enterprise front and we strongly disagree with the notion that growth is weakening," Wedbush analyst Dan Ives wrote in a client note Tuesday. "We believe that recent concerns around OpenAI are overblown with the company having enough capital to fulfill its compute capacity needs over at least the next three years following the company's recent $122 billion funding round."In other company news, Coca-Cola (KO) lifted its full-year earnings growth outlook on Tuesday as the beverages giant posted fiscal first-quarter results above market expectations amid pricing and volume gains. The stock advanced 3.9%, the best performer on the Dow.Spotify Technology (SPOT) shares tumbled 12% after the audio-streaming platform's premium subscriber growth and outlook disappointed investors.West Texas Intermediate crude was up 3.7% at $99.89 per barrel in Tuesday late-afternoon trade, while Brent crude climbed 2.7% to $111.16.US President Donald Trump and national security officials are skeptical of Iran's new offer to open the Strait of Hormuz and delay talks on uranium enrichment, The Journal reported, citing American officials.Mediators in Pakistan expect a revised proposal from Iran in the next few days to end the war, CNN reported, citing sources close to the mediation process.Elsewhere in the world, the United Arab Emirates has decided to leave the Organization of the Petroleum Exporting Countries on Friday, in a move that Rystad Energy said makes the cartel "structurally weaker."The UAE is one of the few OPEC members, including Saudi Arabia, that have spare capacity, Rystad said in a note. OPEC uses a production quota system to stabilize global oil markets."Its departure therefore removes one of the core pillars underpinning OPEC's ability to manage the market," Rystad Head of Geopolitical Analysis Jorge Leon wrote.The Federal Reserve's monetary policy committee kicked off its two-day meeting on interest rates, with a decision due Wednesday. Markets widely expect the central bank to keep its benchmark lending rate unchanged for a third consecutive meeting. Fed Chairman Jerome Powell will hold a post-meeting press conference at 2:30 pm ET tomorrow."Investors will be listening closely for an updated assessment of economic conditions, particularly inflation, in the wake of the ongoing conflict overseas," Stifel Chief Economist Lindsey Piegza said in a report e-mailed to."A rising level of concern could signal a willingness to hold rates steady for a prolonged period of time or even open up the possibility of a rate hike, while any mention of a temporary or expected 'transitory' impact will likely bolster expectations for a potential return to rate cuts," Piegza said.In economic news, US consumer confidence rose in April amid an improvement in labor market perceptions, though there were concerns about elevated gasoline prices driven by the Middle East conflict, according to a survey by the Conference Board.US Treasury yields were higher, with the 10-year rate up 1.1 basis points at 4.36% and the two-year rate rising 4.5 basis points to 3.85%.Gold was down 1.8% at $4,609 per troy ounce, while silver lost 2.6% to $73.10 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$AVGO$INTC$KO$NVDA$ORCL$SPOT
Asia Markets

US Equity Indexes Retreat as Sell-Off in Semiconductors Coincides With Surge in Crude Oil

US equity indexes declined on Tuesday as a slide in semiconductors hit technology, while worsening Middle East geopolitics boosted crude oil prices.The Nasdaq Composite dropped 0.9% to 24,663.80, and the S&P 500 slid 0.5% to 7,138.80, retreating from recent record highs as the so-called artificial intelligence-trade wobbled. The Dow Jones Industrial Average slipped by almost 0.1% to 49,141.93.Microsoft-backed (MSFT) OpenAI recently missed its own targets for new users and revenue, The Wall Street Journal reported late Monday, citing people familiar with the matter. Chief Financial Officer Sarah Friar expressed concern that OpenAI may not be able to pay for future computing contracts if sales fail to grow fast enough, the news report said, citing the people.Among companies with a market capitalization of more than $200 billion, the worst performers were largely semiconductor names, including Arm Holdings (ARM), Applied Materials (AMAT), Arista Networks (ANET), Broadcom (AVGO), and Oracle (ORCL), according to data compiled by Finviz.Meanwhile, the United Arab Emirates will leave the Organization of the Petroleum Exporting Countries and its more expanded version, OPEC+, effective May 1, the Emirates News Agency reported.This comes as Iran's latest proposal to end the war in the Middle East has left US President Donald Trump unhappy with the offer, leaving the deadly conflict in a continuing state of deadlock, Reuters reported Tuesday, citing an unnamed US official.Iran's offer included a reopening of the Strait of Hormuz in return for lifting the US blockade of Tehran's ports and deferring talks over its nuclear program. This comes as weekend talks expected to be held in Pakistan between Iran and the US failed to materialize."Alarm bells will ring loudly if the [Strait of Hormuz] doesn't reopen during May," Bjarne Schieldrop, chief analyst of commodities at SEB Research, said in a note. "Spot crude and product prices will trade higher and higher. And if a decent reopening doesn't take place before June/July, then the risk is significant for a real crisis where the world may be forced to reduce its oil consumption closer to the level of availability."West Texas Intermediate crude oil futures jumped 3.7% to $99.96, and Brent crude futures advanced 2.7% to $111.16.In precious metals, gold futures dropped 1.8% to $4,608.7, and silver futures slumped 2.6% to $73.05, as higher crude oil prices raised inflation concerns.Most US Treasury yields rose, with the 10-year steady at 4.34% and the two-year climbed 2.3 basis points to 3.83%.In economic news, the Conference Board's measure of consumer confidence rose to 92.8 in April from an upwardly revised 92.2 reading in March, compared with a decrease to 89.0 expected in a Bloomberg-compiled poll. The survey was conducted from April 1 to April 22, which included the temporary two-week Iran ceasefire.The Richmond Fed's monthly manufacturing index rose to 3 in April from 0 in March, above expectations for 1 in a Bloomberg-compiled survey.The Case-Shiller National Home Price Index rose by 0.3% in February before seasonal adjustment, following a 0.2% decrease in January.

Dow JonesNasdaq CompositeS&P 500$AMAT$ANET$ARM$AVGO$MSFT$ORCL
International

US Equity Markets End Lower as Chipmakers Slide, Middle East Tensions Lift Oil

US equity indexes closed lower on Tuesday as semiconductor shares fell and Middle East tensions lifted crude oil prices.* Arm Holdings (ARM), Applied Materials (AMAT), Lam Research (LRCX), Arista Networks (ANET), and Advanced Micro Devices (AMD) were among the tech decliners.* Iran's latest proposal to end the war in the Middle East failed to win President Donald Trump's support, Reuters reported, citing a US official.* The Conference Board's measure of consumer confidence rose to 92.8 in April from an upwardly revised 92.2 in March, compared with 89 expected in a Bloomberg survey.* The Richmond Fed's monthly manufacturing index rose to 3 in April from zero in March, above expectations for 1 in a Bloomberg poll.* May West Texas Intermediate crude oil rose $3.51 to settle at $99.88 per barrel, while June Brent crude, the global benchmark, was last seen up $2.90 at $111.13.* Alexandria Real Estate Equities (ARE) shares fell 11%, the biggest drop on the S&P 500, after the company reported lower Q1 results.* Centene (CNC) shares rose 13%, the top gainer on the S&P, after the company reported higher Q1 results and raised its 2026 outlook.

Dow JonesNasdaq CompositeS&P 500$AMAT$AMD$ANET$ARE$ARM$CNC$LRCX

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