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

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Asia Markets

Update: Amazon Overperformance Lifts US Equity Futures Pre-Bell Amid Potential Expansion of Middle East Conflict to Egypt

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Friday as tech stocks, led by Amazon (AMZN), were on the upswing amid a potential expansion of the Middle East conflict to include Egypt.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.3%, and Nasdaq futures rose 0.9%.Amazon stock was up 10% in premarket activity after the tech giant reported better-than-expected Q2 results that highlighted the strength of its cloud-computing business.Egypt reported that a drone strike hit two vessels at the port of Damietta on Wednesday. No party has claimed responsibility for that attack, which is the first one in the country's territory since the war between the US and Iran began in late February.Iran said it attacked US assets in Kuwait and Bahrain after the recent wave of US strikes this week, CNBC reported Friday, citing state media.Traders digested the latest round of earnings, with Exxon Mobil (XOM) posting higher Q2 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.6% at $88.29 per barrel and US West Texas Intermediate crude 1.8% higher at $85.06 per barrel.The Chicago purchasing managers index for July, due at 9:45 am ET, is seen coming in at 56.0, down from its prior value of 56.7, according to estimates compiled by Bloomberg.The final University of Michigan consumer sentiment report for July, scheduled at 10 am ET, is expected to show consumer sentiment index coming in at 54.0, down from 54.4 in the prior period.In other world markets, Japan's Nikkei closed 4% higher, Hong Kong's Hang Seng ended 0.1% higher, and China's Shanghai Composite finished 0.7% higher. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.In equities, Micron Technology (MU) stock was up 2.6%, SK Hynix (SKHY) shares rose 5.6%, and Advanced Micro Devices (AMD) stock was 3.4% higher as part of a wider rally in the tech sector.On the losing side, Apple (AAPL) shares fell 7.9% despite the company's strong fiscal Q3 results as it missed estimates for iPad and services revenue. Exxon Mobil stock dropped 1.1% despite posting a Q2 adjusted earnings and revenue beat. AbbVie (ABBV) shares were down 3.3% after the company lowered its full-year 2026 adjusted earnings outlook.

Dow JonesNasdaq CompositeS&P 500$AAPL$ABBV$AMD$AMZN$MU$SKHY$XOM
Japan

Amazon Overperformance Lifts US Equity Futures Pre-Bell Amid Potential Expansion of Mid-East Conflict to Egypt

US equity futures were higher pre-bell Friday as tech stocks, led by Amazon (AMZN), were on the upswing, amid a potential expansion of the Middle East conflict to include Egypt.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 1.1% higher.Amazon stock was up 11% in premarket activity after the tech giant reported better-than-expected Q2 results that highlighted the strength of its cloud-computing business.Egypt reported that a drone strike hit two vessels at the port of Damietta on Wednesday. No party has claimed responsibility for that attack, which is the first one in the country's territory since the war between the US and Iran began in late February.Iran said it attacked US assets in Kuwait and Bahrain after the recent wave of US strikes this week, CNBC reported Friday, citing state media.Traders digested the latest round of earnings, with Exxon Mobil (XOM) posting higher Q2 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $88.38 per barrel and US West Texas Intermediate crude 1.5% higher at $84.85 per barrel.The Chicago purchasing managers index for July, due at 9:45 am ET, is seen coming in at 56.0, down from its prior value of 56.7, according to estimates compiled by Bloomberg.The final University of Michigan consumer sentiment report for July, scheduled at 10 am ET, is expected to show consumer sentiment index coming in at 54.0, down from 54.4 in the prior period.

Dow JonesNasdaq CompositeS&P 500$AMZN$XOM
Stocks Rise Pre-Bell as Amazon Results Lift AI Trade Sentiment
US Markets

Stocks Rise Pre-Bell as Amazon Results Lift AI Trade Sentiment

The benchmark US stock measures were tracking in the green before the open Friday as Amazon's (AMZN) better-than-expected quarterly results improved sentiment around the artificial intelligence trade.The S&P 500 rose 0.4%, the Dow Jones Industrial Average increased 0.5% and the Nasdaq gained 1.1% in premarket activity. The indexes finished the previous trading session up, with the Nasdaq snapping a six-day losing streak and recording its biggest single-day percentage gain since June 15.Shares of Amazon rose 13% pre-bell after the e-commerce giant reported second-quarter earnings above Wall Street's estimates amid a 37% jump in its Amazon Web Services cloud computing business."Amazon's (second-quarter) print was exactly what bulls wanted," RBC Capital Markets said in an emailed client note on Friday. "AWS's accelerating 37% growth beat the bogey, the backlog meaningfully accelerated and AWS's margin flow-through would suggest AI may not be the (return on investment) depressant it's been made out to be."Apple (AAPL) fell 7.1% early Friday as the company missed market estimates for iPad and services revenue in its fiscal third quarter. The tech giant recently increased prices for MacBooks and iPads amid surging memory and storage chip costs.Meta Platforms (META) rose 1.9% while Microsoft (MSFT) was down 0.5% following a 16% jump at the close of Thursday trading. Social media platform Reddit (RDDT) fell 9.3% following its latest quarterly results.Government data on Thursday showed that the US personal consumption expenditure price index decreased 0.1% month over month in June, marking the first decline since April 2020. A separate report showed that US economic growth slowed more than expected in the second quarter, though consumer spending seemed to shrug off intensifying price measures.Treasury yields were trending higher in premarket action, with the two-year rate increasing 2.7 basis points to 4.26% and the 10-year rate adding 0.6 basis points to 4.67%.Iran's army said Friday that it launched strikes on strategic US assets and military bases in Kuwait and Bahrain, following Washington's attack against Iran earlier in the week, CNBC reported, citing state media.Saudi Arabia on Thursday reportedly proposed to form a naval alliance to protect key shipping routes in the Red Sea and Strait of Hormuz, with Iran and its Houthi allies in Yemen continuing to attack vessels amid the ongoing conflict with the US. About 40 countries attended a meeting to discuss strengthening maritime cooperation, the Saudi Defense Ministry reportedly said.West Texas Intermediate crude oil was up 0.4% at $83.93 a barrel before the opening bell, while Brent advanced 0.7% to $89.53.Oil giants ExxonMobil (XOM) and Chevron (CVX) report their latest financial results before the bell, along with AbbVie (ABBV), Colgate-Palmolive (CL), Moderna (MRNA), Magna International (MGA) and AutoNation (AN).Friday's economic calendar has the Chicago purchasing managers' index for July at 9:45 am ET, followed by the final University of Michigan consumer sentiment report for the same month at 10 am. The weekly Baker Hughes oil-and-gas rig count is out at 1 pm.Gold declined 1.2% to $4,113 per troy ounce, while bitcoin shed 1.6% to $63,713.

Dow JonesNasdaq CompositeS&P 500$AAPL$ABBV$AMZN$AN$CL$CVX$META$MGA$MRNA$MSFT$RDDT$XOM
International

Tech Revival Buoys Wall Street Pre-Bell; Asia Rallies, Europe Up

Wall Street futures pointed solidly higher pre-bell Friday, after tech-and-delivery conglomerate Amazon.com (AMZN) late Thursday reported earnings that crushed the market consensus, and said its web-services division had more business than it can handle.Amazon.com gained 11.5% pre-bell, while in the futures the S&P 500 rose 0.5%, the Nasdaq inclined 1.2% and the Dow Jones was up 0.6%.The VanEck Semiconductor fund, after a 6.9% incline on Thursday, traded up another 3% pre-bell.Asian exchanges traded sharply higher overnight, including a record 17.9% gain on Seoul's KOSPI index, and an 8% uplift on Taiwan's TWSE index, on the tech-sector rebound.European bourses tracked moderately north midday on the continent.On the economic calendar is the Q2 employment cost index at 8:30 am ET, followed by the Chicago PMI for July at 9:45 am.The University of Michigan consumer sentiment report for July logs at 10 am, followed by the weekly Baker Hughes domestic oil-and-gas rig count at 1 pm.In pre-market action, bitcoin traded at $63,792, West Texas Intermediate crude oil traded up 0.9% at $84.36, and 10-year US Treasuries offered 4.68%. Spot gold commanded $4,057 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Update: US Equity Indexes Surge as Microsoft Triggers Rebound in Chipmakers While Inflation Rate Falls in June

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes soared Thursday as semiconductors rebounded after Microsoft's (MSFT) quarterly results revealed evidence of AI monetization and a closely watched inflation gauge showed a decline for June.The Nasdaq Composite catapulted 2.8% to 25,122.18, the S&P 500 jumped 1.7% to 7,437.63, and the Dow Jones Industrial Average climbed 1.2% to 52,208.06.Technology was the standout gainer, up 5.2%, followed by consumer discretionary. Communication services, consumer staples, and health care led the decliners.Microsoft's intelligent cloud segment revenue surged 32% to $39.31 billion, buoyed by an astounding 43% growth in Azure and other cloud services. Analysts expected a 40% year-over-year advance in Azure sales. Shares of Microsoft shot up 16%, one of the top gainers in the S&P 500, Nasdaq, and the Dow."This was another standout quarter by Nadella & Co. with triple-digit AI [annual recurring revenue] growth and accelerating Azure trajectory into the end of FY26, reinforcing that any knee-jerk reactions to the elevated capex framework represent strong buying opportunities as Redmond's structural AI moat only widens from here," Dan Ives, global head of technology at Wedbush Securities, said in a note.Arm (ARM) shares rose 6.2% after the semiconductor group reported a fiscal Q1 beat for adjusted earnings and revenue.A consortium of banks led by Morgan Stanley (MS) is in talks to lend $15 billion to a data-center developer to build a campus and power plant for Anthropic in Texas, The Wall Street Journal reported Thursday, citing people familiar with the matter. Alphabet's (GOOG, GOOGL) Google would provide financial guarantees and chips for the project. The deal could be announced as soon as today, the report said.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, advanced 6.9%, as chipmakers are major beneficiaries of AI-related spending. Among companies with a market capitalization of more than $200 billion, six of the top 10 gainers on Thursday were from the semiconductors and semiconductor equipment and materials industries, according to data compiled by Finviz.In economic news, the personal consumption expenditures, or PCE, price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%. The price index rose by 0.5% in May. The core PCE price index climbed 0.1% in June, below the 0.2% gain expected and following a 0.3% growth in May. The year-over-year rate dropped to 3.3% from 3.4%, according to the Bureau of Economic Analysis.An advance BEA reading of gross domestic product showed 1.5% growth in Q2, after a 2.1% increase in Q1 and missing the 2.0% gain forecast in a Bloomberg-compiled survey.US Treasury yields traded mixed, with the 10-year up 5.3 basis points to 4.68%.In precious metals markets, gold futures jumped 1.9% to $4,173.5, and silver futures advanced 2.5% to $59.53.The front-month US West Texas Intermediate was down 0.9% at $83.70 a barrel, while global benchmark North Sea Brent declined 1.8% to $89.15 a barrel.Late Wednesday, US forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to CENTCOM. Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.

Dow JonesNasdaq CompositeS&P 500$ARM$GOOG$GOOGL$MS$MSFT$SMH
Update: Nasdaq Composite Snaps 6-Day Slump as Microsoft Soars
US Markets

Update: Nasdaq Composite Snaps 6-Day Slump as Microsoft Soars

(Updates with market moves at the end of the day.)The Nasdaq Composite surged Thursday, rebounding after a six-day losing streak, as Microsoft's (MSFT) shares moved 16% higher in a post-earning rally.The technology-heavy Nasdaq gained 2.8% to close at 25,122.18, its biggest single-day percentage gain since June 15. The S&P 500 rose 1.7% to 7,437.63, while the Dow Jones Industrial Average climbed 1.2% to 52,208.06. Among sectors, tech paced the gainers with a 5.2% advance, while communication services led the laggards.Microsoft soared almost 16%, the top gainer on the Dow. Its quarterly results released late Wednesday topped estimates driven by a revenue surge in cloud computing platform Azure."This year, Azure revenue surpassed $100 billion for the first time, and Microsoft 365 Copilot reached over 30 million paid seats, reflecting the confidence customers are placing in us to power their (artificial intelligence) transformation," Chief Executive Satya Nadella said in a statement on Wednesday.Sandisk (SNDK) surged 26%, the top performer on the S&P 500, while other chip-related stocks also logged sharp gains, such as Micron Technology (MU), Advanced Micro Devices (AMD), and Intel (INTC).Meta Platforms' (META) shares slumped 8% as the technology giant provided a soft third-quarter revenue outlook following an unexpected year-over-year decline in quarterly earnings. It raised the lower end of its capital expenditure guidance."Microsoft shows clearer AI revenue through Azure and Copilot, while Meta still depends mainly on advertising," Saxo Bank said in a report.Amazon.com (AMZN) was the Dow's third-biggest gainer, up 3.9%. The e-commerce giant and Apple (AAPL) released their latest quarterly results after the closing bell on Thursday.Treasury yields were mixed, with the 10-year rate up 5.1 basis points at 4.67%, while the two-year rate was little changed at 4.25%.In economic news, the US personal consumption expenditure price index fell 0.1% month over month in June, marking the first decline since April 2020, the Bureau of Economic Analysis reported Thursday. That helped cut the year-over-year rate to 3.7% from 4.1%.Separate data showed US economic growth slowed more than expected in the second quarter, though consumer spending seemed to shrug off intensifying price measures.West Texas Intermediate crude oil was down 0.9% at $83.71 a barrel in Thursday late-afternoon trade, while Brent fell 1.8% to $89.15. Both benchmarks are on track for hefty gains this month, following two consecutive monthly declines.The US carried out fresh strikes against Iran on Wednesday in response to Tehran's attempted missile attacks on US forces in the Middle East a day earlier, the US Central Command said."Elevated energy prices are also clouding the inflation outlook for the (Federal Reserve), keeping upside inflation risks alive, with core PCE inflation having run above the Fed's 2% target for more than five years," TD Economics said. "While the Fed remained on the sidelines this week, financial markets continue to price a rate hike by year-end."The Federal Open Market Committee held the policy rate steady on Wednesday, in a divided decision that included three officials calling for a hike.Spot gold rose 1.1% to $4,113.71 per troy ounce, while silver advanced 2.3% to $59.43 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMD$AMZN$INTC$META$MSFT$MU$SNDK
Japan

US Equity Markets End Higher on Microsoft's Cloud Gains, Semiconductor Rebound

US equity indexes ended higher Thursday after Microsoft (MSFT) posted AI-backed gains and semiconductor stocks rebounded.* Microsoft's intelligent-cloud segment's revenue increased 32% to $39.31 billion, buoyed by 43% growth in Azure and other cloud services.* The personal consumption expenditures price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%.* US initial jobless claims last week rose sequentially to 197,000 from an upwardly revised 188,000, versus expectations for an increase to 200,000 in a Bloomberg poll.* September West Texas Intermediate crude oil fell $0.74 to settle at $83.70 per barrel, while September Brent crude, the global benchmark, was last seen down $1.56 at $89.18.* Chip-related stocks jumped with Sandisk (SNDK) up 26%, the top performer on the S&P 500. Micron Technology (MU), Advanced Micro Devices (AMD) and Intel (INTC) also advanced.* Alnylam Pharmaceuticals (ALNY) shares fell 28%, the biggest drop on the Nasdaq, after the company lowered its full-year 2026 net product revenue guidance.

Dow JonesNasdaq CompositeS&P 500$ALNY$AMD$INTC$MSFT$MU
Japan

Update: US Equity Indexes Surge as Microsoft's Quarterly Results Spark Rebound in Chipmakers Ahead of Amazon's Earnings

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes soared following a bounce in semiconductors, as investors anchored to Microsoft's (MSFT) quarterly results showing AI monetization while awaiting results from Amazon.com (AMZN) and Apple (AAPL) after the bell.The Nasdaq Composite jumped 2.7% to 25,097.2, the S&P 500 was up 1.6% to 7,435.5, and the Dow Jones Industrial Average climbed 1.2% to 52,231.8 ahead of Thursday's close. Technology was the standout gainer, up 5%.The Microsoft intelligent cloud segment's revenue increased 32% to $39.31 billion, buoyed by 43% growth in Azure and other cloud services, according to the company. Analysts expected a 40% year-over-year advance in Azure sales."This year, Azure revenue surpassed $100 billion for the first time, and Microsoft 365 Copilot reached over 30 million paid seats, reflecting the confidence customers are placing in us to power their (artificial intelligence) transformation," Chief Executive Satya Nadella said in a statement. Shares of Microsoft soared 17%, one of the top gainers on the S&P 500, Nasdaq, and the Dow.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, soared 6.7%, as chipmakers are major beneficiaries of AI-related spend. Investors will watch Amazon's AI-related growth in both revenue and spend when it announces quarterly results after the bell.Among companies with a market capitalization of more than $200 billion, six of the top 10 gainers in the final leg of trading were from the semiconductors and semiconductor equipment and materials industries, according to data compiled by Finviz.In economic news, the personal consumption expenditures, or PCE, price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%. The price index rose by 0.5% in May. The core PCE price index climbed 0.1% in June, below the 0.2% gain expected and following a 0.3% growth in May. The year-over-year rate dropped to 3.3% from 3.4%, according to the Bureau of Economic Analysis.US Treasury yields traded mixed, with the 10-year up 4.5 basis points to 4.67%. The two-year was steady at 4.24%.Late Wednesday, the US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to CENTCOM. Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.The front-month US West Texas Intermediate was down 1.1% at $83.55 a barrel, while global benchmark North Sea Brent declined 1.9% to $89.03 a barrel.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$MSFT$SMH
Update: Equities Rise Intraday as Microsoft's Post-Earnings Rally Lifts Tech Sector
US Markets

Update: Equities Rise Intraday as Microsoft's Post-Earnings Rally Lifts Tech Sector

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday, supported by the technology's sector's advance as Microsoft (MSFT) shares surged, while traders parsed fresh inflation data.The Nasdaq Composite was up 2.6% at 25,074.4 after midday Thursday, while the S&P 500 rose 1.5% to 7,424.6. The Dow Jones Industrial Average climbed 1.1% to 52,145.7. Among sectors, tech saw the steepest rise with a gain of 5.1%, while communication services led the laggards.Microsoft was up nearly 17%, the top gainer on the Dow and among the best performers on the S&P 500. Its quarterly results released late Wednesday topped estimates driven by a revenue surge in cloud computing platform Azure.Chip-related stocks were sharply higher, with Sandisk (SNDK) surging 25%, the top performer on the Dow. Micron Technology (MU), Advanced Micro Devices (AMD), and Intel (INTC), also advanced.Amazon.com (AMZN) followed Microsoft on the Dow, up 4.9%. The e-commerce giant and Apple (AAPL) are scheduled to release their latest quarterly results after markets close Thursday.Meta Platforms' (META) shares slumped 9.2% intraday as the technology giant provided a soft third-quarter revenue outlook following an unexpected year-over-year decline in quarterly earnings. It raised the lower end of its capital expenditure guidance."Microsoft shows clearer (artificial intelligence) revenue through Azure and Copilot, while Meta still depends mainly on advertising," Saxo Bank said in a report.In economic news, the US personal consumption expenditure price index fell 0.1% month over month in June, marking the first decline since April 2020, the Bureau of Economic Analysis reported Thursday. That helped cut the year-over-year rate to 3.7% from 4.1%."While lower gasoline prices provided a boost to households' purchasing power in June, that support may prove temporary as energy prices have moved higher amid renewed US-Iran tensions," TD Economics said in a report.West Texas Intermediate crude oil was down 0.6% at $83.96 a barrel intraday, while Brent fell 1.2% to $89.67. Both benchmarks are on track for hefty gains this month, following two consecutive monthly declines.The US carried out fresh strikes against Iran on Wednesday in response to Tehran's attempted missile attacks on US forces in the Middle East a day earlier, the US Central Command said."Elevated energy prices are also clouding the inflation outlook for the (Federal Reserve), keeping upside inflation risks alive, with core PCE inflation having run above the Fed's 2% target for more than five years," TD Economics said. "While the Fed remained on the sidelines this week, financial markets continue to price a rate hike by year-end."The Federal Open Market Committee held the policy rate steady on Wednesday, in a divided decision that included three officials calling for a hike.Treasury yields were mixed intraday, with the 10-year rate up 3.9 basis points at 4.66%, while the two-year rate fell 1.3 basis points to 4.22%.In other economic news, US real gross domestic product increased at a 1.5% annualized rate in the quarter ended June, according to an advance government estimate released Thursday. The consensus was for 2% growth in a survey compiled by Bloomberg.Spot gold rose 0.8% to $4,101.62 per troy ounce, while silver advanced 1.5% to $58.94 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMD$AMZN$INTC$META$MSFT$MU$SNDK
Asia Markets

Update: US Equity Indexes Surge as Rebound in Chipmakers Boosts Technology

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes rose amid a bounce in semiconductors as investors anchored to Microsoft's (MSFT) quarterly results showing AI monetization and a closely watched inflation gauge fell in June.The Nasdaq Composite jumped 2.6% to 25,069.1, the S&P 500 was up 1.5% to 7,424.5, and the Dow Jones Industrial Average climbed 1.1% to 52,152.7 after midday Thursday. Technology was the standout gainer, up 5%, while communication services led the decliners.The Microsoft intelligent cloud segment's revenue increased 32% to $39.31 billion, buoyed by 43% growth in Azure and other cloud services, according to the company. Analysts expected a 40% year-over-year advance in Azure sales."This year, Azure revenue surpassed $100 billion for the first time, and Microsoft 365 Copilot reached over 30 million paid seats, reflecting the confidence customers are placing in us to power their (artificial intelligence) transformation," Chief Executive Satya Nadella said in a statement. Shares of Microsoft soared 17%, one of the top gainers on the S&P 500, Nasdaq, and the Dow.Arm (ARM) jumped 6.2% after the semiconductor group reported a fiscal Q1 beat for adjusted earnings and revenue.Meta Platforms (META) slumped 9%, one of the worst performers on the Nasdaq. The firm provided a soft Q3 revenue outlook following an unexpected decline in quarterly earnings, while it raised the lower end of its capital expenditure guidance.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, soared 6.8%, as chipmakers are major beneficiaries of AI-related spend. Among companies with a market capitalization of more than $200 billion, seven of the top 10 gainers after midday Thursday were from the semiconductors and semiconductor equipment and materials industries, according to data compiled by Finviz.In economic news, the personal consumption expenditures, or PCE, price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%. The price index rose by 0.5% in May. The core PCE price index climbed 0.1% in June, below the 0.2% gain expected and following a 0.3% growth in May. The year-over-year rate dropped to 3.3% from 3.4%, according to the Bureau of Economic Analysis.An advance BEA reading of gross domestic product showed 1.5% growth in Q2, after a 2.1% increase in Q1 and missing the 2.0% gain forecast in a Bloomberg-compiled survey.US initial jobless claims rose sequentially to 197,000 in the week ended July 25 from an upwardly revised 188,000, versus expectations for an increase to 200,000 in a Bloomberg-compiled poll. The four-week moving average, however, fell 5,000 to 202,750, the US Labor Department reported.US Treasury yields traded mixed, with the 10-year up 3.7 basis points to 4.66%. The two-year fell 1.5 basis points to 4.22%.In precious metal markets, gold futures jumped 1.8% to $4,107.5, and silver futures advanced 1.5% to $58.94.The front-month US West Texas Intermediate was down 0.7% at $83.84 a barrel, while global benchmark North Sea Brent declined 1.5% to $89.38 a barrel.Late Wednesday, the US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to a CENTCOM statement.Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.A drone strike on gas vessels in Egypt's Mediterranean port of Damietta on Wednesday raised the prospect of threats to navigation through the Suez Canal, one of the last remaining export routes for Saudi oil, Reuters reported.

Dow JonesNasdaq CompositeS&P 500$ARM$META$MSFT$SMH
Asia Markets

Exchange-Traded Funds Higher as US Equities Advance After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV rose. Actively traded Invesco QQQ Trust (QQQ) added 2.8%.US equity indexes rose amid a bounce in semiconductors as investors anchored to Microsoft's (MSFT) quarterly results showing AI monetization.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) fell about 0.2% each.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 4.9%; iShares US Technology ETF (IYW) added 3.6%, and iShares Expanded Tech Sector ETF (IGM) was up 3.9%.The State Street SPDR S&P Semiconductor (XSD) rose 6.5%, and iShares Semiconductor (SOXX) advanced 8.1%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) advanced 0.8%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 0.8%.CommoditiesCrude oil dropped 0.7%, and the United States Oil Fund (USO) fell 1%. Natural gas rose 1.2%, and the United States Natural Gas Fund (UNG) added 1.1%.Gold on Comex gained 1.8%, and the State Street SPDR Gold Shares (GLD) rose 1.6%. Silver was up 1.5%, and iShares Silver Trust (SLV) added 2.3%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) was down 2.4%. The Vanguard Consumer Staples ETF (VDC) slipped 2.2%, and iShares Dow Jones US Consumer Goods (IYK) eased 2.2%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was up 0.6%. VanEck Retail ETF (RTH) dipped 0.9%, and the State Street SPDR S&P Retail (XRT) fell 1.1%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) declined 1.7% and iShares US Healthcare (IYH) fell 1.7%, and Vanguard Health Care ETF (VHT) eased 1.5%. IShares Biotechnology ETF (IBB) was down 0.5%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) rose 0.3%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) added 1.9%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 1.9%, ProShares Ether ETF (EETH) was up 2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 1.7% higher.

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

Update: US Equity Indexes Jump Amid Rebound in Chipmakers

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes rose amid a bounce in semiconductors as investors anchored to Microsoft's (MSFT) quarterly results showing AI monetization.The Nasdaq Composite jumped 2.5% to 25,046.3, the S&P 500 was up 1.2% to 7,405.4, and the Dow Jones Industrial Average climbed 0.7% to 51,932.8 after midday Thursday. Technology was the standout gainer, up 4.8%, while communication services led the decliners.The Microsoft intelligent cloud segment's revenue increased 32% to $39.31 billion, buoyed by 43% growth in Azure and other cloud services, according to the company. Analysts expected a 40% year-over-year advance in Azure sales."This year, Azure revenue surpassed $100 billion for the first time, and Microsoft 365 Copilot reached over 30 million paid seats, reflecting the confidence customers are placing in us to power their (artificial intelligence) transformation," Chief Executive Satya Nadella said in a statement. Shares of Microsoft soared 16%, one of the top gainers on the S&P 500, Nasdaq, and the Dow.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, soared 7%, as chipmakers are major beneficiaries of AI-related spend.In economic news, the personal consumption expenditures, or PCE, price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%. The price index rose by 0.5% month-over-month in May. The core PCE price index climbed 0.1% in June, below the 0.2% gain expected and following a 0.3% growth in May. The year-over-year rate dropped to 3.3% from 3.4%, according to the Bureau of Economic Analysis.Late Wednesday, the US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to a CENTCOM statement. "The strikes aimed to further diminish threats posed by Iran and its proxies to American forces, commercial shipping, and neighboring Gulf countries."Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.The front-month US West Texas Intermediate was down 0.7% at $83.83 a barrel, while global benchmark North Sea Brent slipped 0.7% to $90.14 a barrel.

Dow JonesNasdaq CompositeS&P 500$MSFT$SMH
Commodities

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

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.7%, and the actively traded Invesco QQQ Trust (QQQ) advanced 1.5% in Thursday's premarket activity, amid earnings reports by big technology companies.US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 1% before the start of regular trading.US initial jobless claims rose to a level of 197,000 in the week ended July 25 from an upwardly revised 188,000 level in the previous week, compared with expectations for a larger increase to 200,000 in a survey of analysts compiled by Bloomberg.US economic growth, measured by gross domestic product, rose by 1.5% in Q2, after a 2.1% gain in Q1, below a 2.0% increase expected in a survey compiled by Bloomberg.Personal income rose by 0.2% in June following May's 0.7% gain, smaller than the expected 0.3% gain in a survey conducted by Bloomberg as of 7:35 am ET. The core PCE price index increased by 0.1%, below the 0.2% gain expected and following a 0.3% gain in May. The year-over-year rate dropped to 3.3% from 3.4% in the previous month.The weekly natural gas stocks will be released at 10:30 am ET.In premarket action, bitcoin was up by 1.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2% higher, Ether ETF (EETH) advanced 1.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was down 0.6%.Power Play:Microsoft (MSFT) shares were up more than 9% after the company reported higher fiscal Q4 adjusted earnings and revenue.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1.3%, while the Vanguard Industrials Index Fund (VIS) was inactive and the iShares US Industrials ETF (IYJ) were up 2%.AGCO (AGCO) was down 7% before the opening bell after the company reported lower-than-expected Q2 adjusted earnings and net sales.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.3% lower.Banco Bilbao Vizcaya Argentaria (BBVA) shares traded up 5% in early hours activity after the company reported higher Q2 adjusted earnings and gross income.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 1.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 1.3%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.7%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.1% higher.Anheuser-Busch InBev (BUD) shares were down 2.2% pre-bell even after the company reported higher Q2 underlying earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 1.4%, the Vanguard Health Care Index Fund (VHT) was down 0.4%, while the iShares US Healthcare ETF (IYH) gained 1.7%. The iShares Biotechnology ETF (IBB) was up 1.4%.Bristol-Myers Squibb (BMY) was down 1.1% premarket even reporting higher Q2 non-GAAP earnings and revenue.EnergyThe iShares US Energy ETF (IYE) was up 2.8%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.7%.Shell (SHEL) was up more than 1% before market open after the company reported higher Q2 adjusted earnings and revenue.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.6% to $83.99 per barrel on the New York Mercantile Exchange. Natural gas was down 1.1% to $2.69 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 1.1%, while the United States Natural Gas Fund (UNG) was 1.4% lower.Gold futures for August advanced by 0.9% to $4,133.20 an ounce on the Comex. Silver futures gained by 0.3% to $58.24 an ounce. SPDR Gold Shares (GLD) was up by 0.6%, and the iShares Silver Trust (SLV) rose by 1.1%.

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

Update: US Equity Futures Rise Pre-Bell Amid Latest Big Tech Earnings, Fed Rate Decision

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Thursday as traders took note of the Federal Reserve's decision to leave interest rates unchanged, as well as the latest round of earnings from major tech players Microsoft (MSFT) and Meta Platforms (META).Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 1.5% higher.The Fed held its policy rate steady in a divided decision, as three officials called for policy tightening. The Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%, marking its fifth consecutive pause. The committee reiterated its pledge to "deliver price stability" as inflation remained above the 2% target amid supply shocks.Late Wednesday, Microsoft reported higher fiscal Q4 adjusted earnings and revenue, while Meta posted a decline in earnings and higher revenue for Q2.Apple (AAPL) is expected to report its fiscal Q3 earnings after the market closes. Analysts polled by FactSet expect earnings of $1.89 per share on revenue of $109.04 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.1% at $87.12 per barrel and US West Texas Intermediate crude 0.8% lower at $83.80 per barrel.The June core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, released at 8:30 am ET, slowed to 0.1% from a pace of 0.3% in the prior month and the expected 0.2% increase in estimates compiled by Bloomberg.Initial jobless claims rose to 197,000 in the week ended July 25 from an upwardly revised 188,000 level in the previous week, compared with expectations for an increase to 200,000. Q2 GDP growth was recorded at a 1.5% annual rate, compared with expectations for 2%.In other world markets, Japan's Nikkei closed 0.7% higher, Hong Kong's Hang Seng ended 0.2% higher, and China's Shanghai Composite finished 0.6% lower. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.In equities, Microsoft shares rose 9% after the company's fiscal Q4 results topped expectations, driven by a revenue surge in cloud computing platform Azure. Lam Research (LRCX) stock was up 13% after the company posted better-than-expected fiscal Q4 adjusted earnings and revenue, as well as issued Q1 guidance that surpassed analysts' consensus. Arm (ARM) shares were 11% higher after the company reported a fiscal Q1 beat for adjusted earnings and revenue. Starbucks (SBUX) stock was up 4.4% after the company's fiscal Q3 adjusted earnings and revenue surpassed expectations and its fiscal 2026 adjusted EPS outlook was boosted.On the losing side, Meta stock was down nearly 10% after the company's Q2 earnings fell short of consensus estimates. Qualcomm (QCOM) shares fell 3.1% after the company reported lower fiscal Q3 adjusted earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$AAPL$ARM$LRCX$META$MSFT$QCOM$SBUX
Japan

US Equity Futures Rise Pre-Bell Amid Latest Big Tech Earnings, Fed Rate Decision

US equity futures were higher pre-bell Thursday as traders took note of the Federal Reserve's decision to leave interest rates unchanged, as well as the latest round of earnings from major tech players Microsoft (MSFT) and Meta Platforms (META).Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 1.4% higher.The Fed held its policy rate steady in a divided decision, as three officials called for policy tightening. The Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%, marking its fifth consecutive pause. The committee reiterated its pledge to "deliver price stability" as inflation remained above the 2% target amid supply shocks.Late Wednesday, Microsoft reported higher fiscal Q4 adjusted earnings and revenue, while Meta posted a decline in earnings and higher revenue for Q2.Apple (AAPL) is expected to report its fiscal Q3 earnings after the market closes. Analysts polled by FactSet expect earnings of $1.89 per share on revenue of $109.04 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.2% at $87.06 per barrel and US West Texas Intermediate crude 1.2% lower at $83.41 per barrel.The June core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, scheduled for release at 8:30 am ET, is expected to increase 0.2%, compared with the prior month's gain of 0.3%, according to estimates compiled by Bloomberg.Initial jobless claims are projected to have increased to 200,000 in the week ended July 25 from 187,000 in the previous week. The advance estimate for Q2 GDP is seen coming in at 2.0%, down from 2.1% in the previous quarter.

Dow JonesNasdaq CompositeS&P 500$AAPL$META$MSFT
Stock Futures Rise as Investors Await Key Inflation Report Following Fed Hold
US Markets

Stock Futures Rise as Investors Await Key Inflation Report Following Fed Hold

US stock futures pointed to a higher open on Thursday as investors awaited a key inflation report following the Federal Reserve's latest interest rate decision.The Nasdaq 100 was tracking 1% higher before the opening bell. S&P 500 futures rose 0.5%, while the Dow Jones Industrial Average indicated a 0.3% gain.The indexes closed the previous session in the red after the Fed left interest rates unchanged in a divided decision, with three regional presidents calling for policy tightening.The personal income and outlays report for June is scheduled to be released at 8:30 am ET. The report includes the personal consumption expenditures price index, the Fed's preferred inflation metric, as well as data on consumer spending.While the market expects about two interest rate hikes over the coming 12 months, Jefferies said the next policy move will likely be a rate cut."We expect that labor market conditions will continue to gradually soften throughout the remainder of the year, and we are optimistic that inflation pressure is going to continue to soften as the energy surge from Iran reverses," Jefferies Chief US Economist Thomas Simons said in a note e-mailed to.The outlook is uncertain, so "we could certainly be wrong about the persistence of high inflation," Simons added.The Fed's next meeting is scheduled for Sept. 15-16.Treasury yields were up in premarket action, with the two-year rate increasing 2.6 basis points to 4.26% and the 10-year rate adding 7 basis points to 4.62%.Thursday's economic calendar also has the advance estimate for second-quarter gross domestic product, along with the weekly jobless claims bulletin.West Texas Intermediate crude oil fell 0.9% to $83.74 a barrel, while Brent declined 0.5% to $90.25.The US carried out fresh strikes against Iran on Wednesday in response to Tehran's attempted missile attacks on US forces in the Middle East a day earlier, the US Central Command said.Earlier in the week, Saudi Arabia and the US struck Iran-backed militias in Iraq.Meta Platforms (META) shares fell 9% before the bell as the company's second-quarter earnings unexpectedly fell year over year late Wednesday. The social media giant's third-quarter revenue guidance also missed Wall Street's expectations at the midpoint.Microsoft (MSFT) surged 9% after its quarterly results topped estimates driven by a revenue surge in cloud computing platform Azure.Apple (AAPL) and Amazon (AMZN) are scheduled to release their latest financial results after the bell Thursday. Mastercard (MA), Shell (SHEL), Bristol-Myers Squibb (BMY) and Altria (MO) were among the companies scheduled to release results before markets open.Gold rose about 1% to $4,139 per troy ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$BMY$MA$META$MO$MSFT$SHEL
Asia Markets

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

Wall Street futures pointed higher pre-bell Thursday after tech colossus Microsoft (MSFT) reported strong Q2 earnings results overnight, and substantial growth in its cloud business.In the futures, the S&P 500 rose 0.5%, the Nasdaq inclined 1% and the Dow Jones was up 0.3%.Microsoft shares traded up 9.4% pre-bell, while the VanEck Semiconductor fund (SMH) gained 1.9% before the open.Index heavyweights Apple (AAPL) and Amazon.com (AMZN) post quarterly results after-bell.Despite Persian Gulf turmoil, West Texas Intermediate crude oil traded down 0.6% at $83.90.Traders also await the Q2 gross domestic product (GDP) first estimate at 8:30 am ET in Washington, for a big-picture view into how the domestic economy is performing given Middle East hostilities and higher oil prices. Also at 8:30 am is the June personal expenditures-core (PCE-core) price index, the Federal Reserve's preferred inflation gauge.Asian exchanges finished mixed and relatively muted overnight, while European bourses tracked moderately north midday on the continent.Fortinet (FTNT) traded up 10.1% pre-bell after the cybersecurity outfit reported positive Q2 financial results and raised guidance, late Wednesday.On the economic calendar, in addition to the Q2 GDP and PCE-core reports, is theweekly jobless claims at 8:30 am ET, and the weekly EIA natural gas report at 10:30 am.In premarket action, Bitcoin traded at $64,532, while 10-year US Treasuries offered 4.70%, the highest yield since early 2023. Spot gold commanded $4,078 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Update: US Equity Indexes Slide as Divided Fed Reiterates Inflation Focus, Trump Vows to Hit Iran Hard in Retribution Move

(Updates with index/price moves and Federal Reserve/geopolitical news from the first paragraph.)US equity indexes sank as the Federal Reserve reiterated its unflinching focus on inflation after three dissenters accompanied the fifth consecutive policy hold and as President Donald Trump promised to hit Iran hard following Tehran's attack on regional neighbors.The Dow Jones Industrial Average plunged 2.2% to 51,594.14, with the Nasdaq Composite down 1.7% to 24,442.94 and the S&P 500 lower by 1.5% to 7,316.15 on Wednesday.All sectors declined, except energy, consumer staples, and communication services. Industrials, technology, and financials led the steepest decliners.The CBOE's volatility index VIX, also known as the fear gauge, surged 14% to 20.66.The Fed held its policy rate steady in a divided decision, as three officials called for policy tightening. The Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%. The committee reiterated its pledge to "deliver price stability" as inflation remained above the 2% target amid supply shocks."Let me reiterate. There is no soft inflation target. There is no soft implicit target. Not on this committee's watch. There's only a target and it's 2%," Fed Chair Kevin Warsh said.Following the FOMC statement, the Fed Funds futures market shifted "slightly," Raymond James said in a note. For the December meeting, the probability of an unchanged Fed Funds rate decreased to 8.4% on Wednesday from 11.0% on Tuesday; the probability of a 25-basis-point increase in rates climbed to almost 92% from over 89%, and the likelihood of two 25-basis-point moves was little changed at 53.0%.A drone hit a US-owned gas storage tanker at Egypt's Mediterranean port of Damietta, British maritime security firm Ambrey said in an initial assessment on Wednesday, Reuters reported.President Donald Trump vowed to retaliate against Iran for firing on US troops days after he halted air strikes, the news report said. "So it's our turn," Trump was cited as saying at the White House. He said Washington would see if there was an agreement with Iran at some point, "but we're going to hit them very hard."Yemen's Houthi group is considering imposing fees on commercial ships sailing through the southern Red Sea, a week after declaring a naval blockade on Saudi Arabia, regional sources with knowledge of the matter told Reuters. The Red Sea chokepoint is a critical export route for Saudi crude as maritime traffic remains disrupted at the Strait of Hormuz, a waterway through which about a fifth of global oil and gas flows.The front-month US West Texas Intermediate jumped 6.8% to $84.66 a barrel and global benchmark North Sea Brent surged 7.8% to $90.66 a barrel after the US Central Command said it joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.US Treasury yields were mixed, with the 10-year surging 7.7 basis points to 4.68% while the two-year was little changed at 4.27%.In precious metal markets, gold futures climbed 0.7% to $4,066.1, and silver futures rose 0.6% to $57.84.

Dow JonesNasdaq CompositeS&P 500
Update: Equities Tumble Following Fed's Divided Decision to Stay on Hold
US Markets

Update: Equities Tumble Following Fed's Divided Decision to Stay on Hold

(Updates with market moves at the end of the day and the Fed decision.)US stocks slid Wednesday after the Federal Reserve left interest rates unchanged in a divided decision, with some policymakers calling for policy tightening.The Dow Jones Industrial Average tumbled 2.2% to close at 51,594.14 after a three-day advance, while the Nasdaq Composite dropped 1.7% to 24,442.94, extending its losing streak to a sixth day. The S&P 500 shed 1.5% to settle at 7,316.15, its first decline in the past four sessions.Most sectors were in the red, led by industrials, while energy paced the gainers.The US central bank's Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%, marking its fifth consecutive pause. Three regional Fed presidents dissented from the majority at the meeting, with Beth Hammack of Cleveland, Neel Kashkari of Minneapolis and Lorie Logan of Dallas preferring to raise interest rates by a quarter percentage point, the FOMC said Wednesday."With further upside risks stemming from the ongoing conflict overseas, several Fed members appear willing to raise rates, or at least increasingly aware of the dangerous nature of leaving a lower level of policy in place," Stifel said in a note.Treasury yields were mixed, with the two-year rate down 3.7 basis points at 4.24% and the 10-year rate surging 6.7 basis points to 4.67%.In commodities, West Texas Intermediate crude oil increased 6.8% to $84.63 a barrel in late Wednesday afternoon trade, while Brent gained 7.6% to $90.48.President Donald Trump reportedly told Fox News that the US will hit Iran hard after its Revolutionary Guard launched ballistic missiles at US forces.Switching to the corporate sector, VF (VFC) plunged 17% after the apparel and footwear company reported a wider-than-expected fiscal first-quarter loss.Procter & Gamble (PG) fell 1.9%. The consumer goods giant reported weaker-than-expected fiscal fourth-quarter sales and said higher costs could weigh on its fiscal 2027 earnings.Tech stocks were among notable gainers, with Salesforce (CRM) up 3.8%, the top performer on the Dow. Cognizant Technology (CTSH) jumped 11%, the third-best performer on the S&P 500. Workday (WDAY) and Intuit (INTU) also logged gains.Gold rose 0.5% to $4,050.46 per troy ounce, while silver gained 0.1% to $57.57 per ounce.

Dow JonesNasdaq CompositeS&P 500$CRM$CTSH$INTU$PG$VFC$WDAY
Japan

US Equity Markets End Lower as Oil Rises, Divided Fed Keeps Rates Unchanged

US equity indexes fell Wednesday as crude oil prices jumped after Iran's surprise missile attack, while a divided Federal Reserve kept its benchmark interest rate unchanged.* President Donald Trump said Iran will be hit hard, according to Fox News. The US Central Command said it joined Saudi Arabian armed forces to conduct strikes after Iran-aligned terrorists attacked US forces and Saudi energy infrastructure.* The Federal Reserve maintained its benchmark interest rate at a range of 3.5% to 3.75% on Wednesday, though three members of the Federal Open Market Committee dissented. Fed Chairman Kevin Warsh declined to forecast the central bank's future policy direction and said the Fed is taking all necessary measures to achieve its 2% inflation target.* September West Texas Intermediate crude oil rose $5.60 to settle at $84.86 per barrel, while September Brent crude, the global benchmark, was last seen up $6.62 at $90.71.* Garmin (GRMN) shares rose 16%, the top gainer on the S&P 500, after the company reported better-than-anticipated Q2 results and raised its full-year guidance.* Lennox International (LII) shares fell 21%, the biggest drop on the S&P, after the company reported Q2 revenue below market expectations and lowered its full-year 2026 earnings outlook.

Dow JonesNasdaq CompositeS&P 500$GRMN$LII

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