S&amp;P 500 Index

Update: US Equity Indexes Rise After August Inflation Print Triggers Rally in Shorter-Maturity Treasury Yields, Crude Oil Slumps

(Updates with index/price moves, comments and company/geopolitical news from the first paragraph.)US equity indexes rose amid a broad-based rally after August's inflation print sparked a surge in short-term government bond yields while crude oil slid ahead of a potential meeting between the Gulf states and Iran to stem their spiralling war.The Nasdaq Composite jumped 1% to 26,333.04, the S&P 500 rose 0.9% to 7,656.98, and the Dow Jones Industrial Average climbed 1% to 52,573.29 on Friday. All but two sectors, health care and utilities, rose. Communication services, consumer discretionary and technology led the gainers.The consumer price index rose 0.4%, the fastest pace since May and above July's 0.1% increase, Bureau of Labor Statistics data showed Friday. The move matched the Bloomberg-polled consensus. Core inflation jumped to a four-month high of 0.3%, exceeding projections for an unchanged 0.2% gain. On an annual basis, headline inflation held steady at 3.4%, as expected. The annual core measure eased to 2.4% from 2.5%, also in line with projections.Today's "ambiguous CPI data doesn't conclusively show evidence of continued disinflation or a continued trend of above-target inflation going forward," Jefferies Chief US Economist Thomas Simons said in a note."The rate decision at this meeting is a very close call, and it seems that no matter what the FOMC does, there will be criticism that they are making a mistake," Simons said. "If they hike, they will have to deal with setting expectations for further rate hikes, knowing that oil prices could crash at any time if there is a resolution to the situation in Iran. If they hold, they risk losing their inflation-fighting credibility, and they will be defying a market that is pricing in odds of nearly 90% for a hike."Supercore inflation - core services excluding housing - jumped 0.5% in August, marking the largest monthly gain in four months, according to a Stifel note. Over the past 12 months, the supercore grew 3.0%, accelerating from the 2.8% gain in July and marking the fastest pace since June.Last month, Fed Chair Kevin Warsh reiterated the Fed's commitment to eventually reinstating price stability, but market participants remained skeptical of any policy tightening, the Stifel note said. "There is no doubt the Fed should raise rates, but the question remains: Will they?"Most US Treasury yields rose. The two-year shot up 7.8 basis points to 4.63%, the highest since mid-2024. The 10-year yield climbed 2.7 basis points to 4.97%, the strongest level since October 2023.A six-member bloc of Gulf states is weighing a meeting with Iran next week to discuss the future of the Strait of Hormuz, people familiar with the matter told Bloomberg. Oman is aiming to assemble foreign ministers from the Gulf Cooperation Council and Iran on Monday in Salalah, a southern Omani city, sources told the news agency.The front-month US West Texas Intermediate crude oil contract slumped 2% to $100.44 per barrel, and global benchmark North Sea Brent dropped 2.6% to $104.80 per barrel. Both crude types were off their respective session lows after Saudi Arabia's Ministry of Energy said Friday that a key crude oil pipeline had been attacked and "was shut down as a precautionary measure," according to CNN.

US Equity Indexes Fall This Week as Benchmark Treasury Yield Hits Highest in Almost Three Years, Crude Oil Blows Past $100

US equity indexes fell this week as government bond yields surged to multi-year highs and crude oil soared following a worsening Iran war.* The S&P 500 closed at 7,656.98 on Friday, versus 7,718.60 a week ago. The Nasdaq Composite stood at 26,333.04, compared with 26,506.99 a week earlier, and the Dow Jones Industrial Average ended at 52,573.29, down from 53,414.25 at the end of last week.* Energy, technology and communication services led sectors, while healthcare sat at the bottom of sector charts.* The consumer price index rose 0.4%, the fastest pace since May and above July's 0.1% gain. The move matched the Bloomberg-polled consensus. Core inflation, which excludes the more volatile food and energy components, jumped to a four-month high of 0.3%, exceeding market projections for an unchanged 0.2% growth.* Interest rate traders are now pricing in an 87% probability that the Federal Reserve will raise its target rate by 25 basis points on Wednesday, up from 72% a day ago and 48% a month ago, according to the CME FedWatch tool.* The 10-year Treasury yield traded at 4.94% late Friday, the strongest level since October 2023, as inflation concerns mounted.* Yemen's Iran-aligned Houthis reached the strategic island of Perim in the Bab el-Mandeb Strait on Friday, Reuters reported, moving to tighten their grip on a vital global shipping route. If the Houthis gain control of the Bab el-Mandeb Strait, which is on the opposite side of the Arabian Peninsula from the Strait of Hormuz, it could give Iran a critical advantage in its war with the US, reducing supplies through a second major transit corridor, the news agency said Friday.* Also, this week, President Donald Trump acknowledged that the Iran war may last until after the November mid-term elections.* Global benchmark North Sea Brent crude oil surpassed $108.0 per barrel on Thursday following attacks on several crude oil carriers.

Dow JonesNasdaq CompositeS&P 500$ACVA$CPRT$DELL

US Equity Markets End Higher Amid Broad-Based Rally as Crude Oil Prices Drop

US equity indexes ended higher Friday amid a broad-based rally led by communication services and technology after crude oil prices dropped.* The Bureau of Labor Statistics' consumer price index rose 0.4% month-on-month, the fastest pace since May and above July's 0.1% gain, matching the Bloomberg-polled consensus.* Core inflation, which excludes the more volatile food and energy components, jumped to a four-month high of 0.3%, exceeding market projections for an unchanged 0.2% growth.* The University of Michigan's preliminary consumer sentiment index fell to 47.8 in September from 51.7 in August, versus the 51.0 expected in a survey compiled by Bloomberg.* October West Texas Intermediate crude oil fell $1.92 to settle at $100.59 per barrel, while November Brent crude, the global benchmark, was last seen down $2.76 at $104.87.* Dell Technologies (DELL) is poised to benefit from a multi-year artificial intelligence infrastructure spending cycle, setting the stage for results to sustain above long-term targets, RBC Capital Markets said in a note. The personal computer manufacturer's shares were up roughly 12%, the second-best performer on the S&P 500.* Copart (CPRT) shares were down about 2.7%, among the worst performers on the S&P 500, after the company said late Thursday it will acquire ACV Auctions (ACVA) for $10.50 per share in cash, valuing the latter at about $1.9 billion.

Dow JonesNasdaq CompositeS&P 500$DELL

Update: Communication Services, Technology Lift US Equity Indexes After August Inflation Print Triggers Rally in Shorter-Maturity Treasury Yields

(Updates with index/price moves, macroeconomic data, comments and geopolitical news from the first paragraph.)US equity indexes rose amid a broad-based rally led by communication services and technology, after August's consumer price inflation data sparked a rise in short-term government bond yields and crude oil slumped.The Nasdaq Composite jumped 1.2% to 26,391.5, the S&P 500 climbed 1.1% to 7,671.1, and the Dow Jones Industrial Average advanced 1.1% to 52,642.2 ahead of Friday's close. All sectors rose, with industrials among the top gainers.The consumer price index rose 0.4% month on month, the fastest pace since May and above July's 0.1% gain, the Bureau of Labor Statistics data showed Friday. The move matched the Bloomberg-polled consensus. Core inflation, which excludes the more volatile food and energy components, jumped to a four-month high of 0.3%, exceeding market projections for an unchanged 0.2% growth. On an annual basis, headline inflation held steady at 3.4%, as expected. The annual core measure eased to 2.4% from 2.5%, also in line with projections.Another iteration of inflation, the supercore - defined as core services excluding housing - jumped 0.5% in August, marking the largest monthly gain in four months, according to a Stifel note. Over the past 12 months, the supercore increased 3.0%, accelerating from the 2.8% gain in July and marking the fastest pace since June, per the note.Last month, Fed Chair Kevin Warsh reiterated the Fed's commitment to eventually reinstating price stability, a welcome sentiment but a reality already five years in the making, leaving market participants still skeptical of not only the potential for a rate increase next week, but a follow-through with additional hikes into year-end, the Stifel note said. "There is no doubt the Fed should raise rates, but the question remains: Will they?"Most US Treasury yields rose in the final leg of trading, with outsized gains concentrated in shorter maturity securities. The two-year shot up 9.4 basis points to 4.64%, the highest since mid-2024. The 10-year yield climbed 3.1 basis points to 4.98%, the strongest level since October 2023.A six-member bloc of Gulf states is weighing a meeting with Iranian officials next week to discuss the future of the Strait of Hormuz, people familiar with the matter told Bloomberg, in what would be the first gathering with the Islamic Republic since war erupted more than six months ago. Oman is aiming to get foreign ministers from the Gulf Cooperation Council and Iran together on Monday in Salalah, a southern Omani city, people familiar with the matter told the news agency.The front-month US West Texas Intermediate crude oil contract slumped 2.3% to $100.16 per barrel, and global benchmark North Sea Brent dropped 2.9% to $104.52 per barrel.

US Markets5d ago

Update: Equities Rise Intraday as Traders Parse Inflation Report; Oil Retreats

(Updates with latest market prices and developments.)US benchmark equity indexes were advancing intraday as markets assessed fresh inflation data, while oil prices fell.The Nasdaq Composite and the Dow Jones Industrial Average were up 1.2% each at 26,406.1 and 52,675.2, respectively, after midday Friday. The S&P 500 advanced 1.1% to 7,675.1. Except healthcare, all sectors were in the green, led by communication services.In economic news, US consumer inflation hit a three-month high in August as energy prices rose, while the core measure unexpectedly accelerated, official data showed, likely adding pressure on the Federal Reserve to raise interest rates."With oil prices up significantly in recent weeks, again hovering around $100 per barrel and underlying price pressures in services remaining sticky, a (Fed) rate hike at next week's meeting now appears all but certain," TD Economics said in a note.The probability of the US central bank increasing its benchmark lending rate by 25 basis points next week jumped to 87% Friday from 72% Thursday, according to the CME FedWatch tool. The odds pointing to another Fed pause fell to 13% from 28%.West Texas Intermediate crude oil was down 2.7% at $99.72 a barrel intraday, while Brent dropped 3% to $104.42. However, both benchmarks were on track for their second consecutive weekly advances as tensions in the Middle East intensified earlier in the week.Diesel prices in the US surged past $6 per gallon for the first time ever Friday amid concerns over energy supply disruptions that in turn could fuel inflation.A six-member bloc of Gulf states is considering talks with Iran next week over the future of the Strait of Hormuz, the world's most important chokepoint for crude flows, news outlets reported Friday.US consumer sentiment weakened in September, while inflation expectations rose, with the year-ahead price growth outlook reaching the highest reading since June, preliminary results of a University of Michigan survey showed.Treasury yields were mostly higher intraday, with the two-year rate up eight basis points at 4.63% and the 10-year rate rising 1.1 basis points to 4.96%.In company news, Dell Technologies (DELL) shares jumped 10% intraday, the top gainer on the S&P 500, as RBC Capital Markets initiated its coverage of the computer maker's stock with an outperform rating and a $640 price target.Dell is well positioned to benefit from the multiyear artificial intelligence infrastructure spending cycle, RBC said in a note.ACV Auctions (ACVA) shares surged 44%, while Copart (CPRT) fell 3.4%, making it the worst performer on the S&P 500. Late Thursday, the companies said Copart will acquire ACV Auctions for $10.50 per share in cash, representing an implied equity value of roughly $1.9 billion.Spot gold advanced 1.2% to $4,367.78 per troy ounce, while silver edged higher by 0.1% to $65.02 per ounce.

Dow JonesNasdaq CompositeS&P 500$ACVA$CPRT$DELL

Dow JonesNasdaq CompositeS&P 500$DELL

Update: Communication Services, Technology Push US Equity Indexes Higher While August CPI Sparks Rally in Shorter-Maturity Treasury Yields

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes rose amid a broad-based rally led by communication services and technology, after August's consumer price inflation data sparked a rise in short-term government bond yields and crude oil slumped.The Nasdaq Composite jumped 1.2% to 26,391.5, the S&P 500 climbed 1.1% to 7,671.1, and the Dow Jones Industrial Average advanced 1.1% to 52,642.2 after midday Friday. All sectors rose, with industrials among the top gainers.The consumer price index rose 0.4% month on month, the fastest pace since May and above July's 0.1% gain, the Bureau of Labor Statistics data showed Friday. The move matched the Bloomberg-polled consensus. Core inflation, which excludes the more volatile food and energy components, jumped to a four-month high of 0.3%, exceeding market projections for an unchanged 0.2% growth.On an annual basis, headline inflation held steady at 3.4%, as expected. The annual core measure eased to 2.4% from 2.5%, also in line with projections."Although headline inflation met expectations, core inflation came in slightly hotter than anticipated, ending a three-month run of softer readings," Thomas Feltmate, senior economist at TD Economics, said in a report. "The pickup was concentrated in non-housing services, which posted its strongest monthly gain since January and is still running north of 3% on a twelve-month basis -- underscoring the stickiness in this component of inflation."Most US Treasury yields rose in midday trading. The two-year jumped 7.8 basis points to 4.63%, the highest since mid-2024. The 10-year yield edged up 1.1 basis points to 4.96%, the strongest level since October 2023.Further in economic news, the University of Michigan's preliminary consumer sentiment index fell to 47.8 in September from 51.7 in August, versus the 51.0 expected in a survey compiled by Bloomberg. Respondents set one-year inflation expectations at 4.6%, up sharply from 4.0% in August, while five-year inflation expectations increased to 3.4% after remaining at 3.3% for three straight months.Yemen's Iran-aligned Houthis reached Perim island in the Bab el-Mandeb Strait on Friday, four Yemeni government sources told Reuters, moving to tighten their grip on an important shipping route.A Houthi spokesman said they will allow international vessels to pass through Bab al-Mandeb except Saudi ships, which are being blocked, Al Jazeera, a Middle Eastern broadcaster, reported.The front-month US West Texas Intermediate crude oil contract slumped 3% to $99.46 per barrel, and global benchmark North Sea Brent dropped 3.1% to $104.29 per barrel.In company news, Dell Technologies (DELL) is poised to benefit from a multi-year artificial intelligence infrastructure spending cycle, setting the stage for results to sustain above long-term targets, RBC Capital Markets said in a client note. The personal computer manufacturing giant's shares soared 11%, the top performer on the S&P 500.

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

Exchange-Traded Funds, US Equities Rise After Midday

Broad-market exchange-traded funds IWM and IVV were higher. Actively traded Invesco QQQ Trust (QQQ) rose 1%.US equity indexes rose amid a broad-based rally led by communication services and technology, after August's consumer price inflation data sparked a rise in short-term government bond yields and crude oil slumped.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) gained 0.3% each.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK), iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) rose 1.4% each.The State Street SPDR S&P Semiconductor (XSD) climbed 3.6%, while iShares Semiconductor (SOXX) increased 2.4%.FinancialThe State Street Financial Select Sector SPDR (XLF) gained 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) was 2.1% higher, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 1.8%.CommoditiesCrude oil fell 2.3%, and the United States Oil Fund (USO) decreased 2.7%. Natural gas shed 0.9%, and the United States Natural Gas Fund (UNG) dropped 1.1%.Gold on Comex declined 0.1%, and the State Street SPDR Gold Shares (GLD) moved 0.9% higher. Silver rose 0.1%, and iShares Silver Trust (SLV) increased 1.3%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) gained 0.5%. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) also rose 0.5% each.The State Street Consumer Discretionary Select Sector SPDR (XLY) was 0.9% higher. The VanEck Retail ETF (RTH) gained 0.7%, and the State Street SPDR S&P Retail (XRT) advanced 1.3%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) was fractionally lower; iShares US Healthcare (IYH) was slightly up and Vanguard Health Care ETF (VHT) was fractionally down, while iShares Biotechnology ETF (IBB) was up 0.3%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) was 1.2% higher. The Vanguard Industrials Index Fund (VIS) increased 1.3%, and iShares US Industrials (IYJ) rose 1.4%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) increased 0.9%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 0.7%, ProShares Ether ETF (EETH) advanced 5%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was down 1.3%.

Update: Communication Services, Technology Push US Equity Indexes Higher in Midday Trading

(Updates with index/price moves, macroeconomic data and geopolitical news from the first paragraph.)US equity indexes rose amid a broad-based rally led by communication services and technology, after August's consumer price inflation data sparked a rise in short-term government bond yields and crude oil slumped.The Nasdaq Composite jumped 1.2% to 26,399.2, the S&P 500 climbed 1.1% to 7,673.3, and the Dow Jones Industrial Average advanced 1.1% to 52,605.7 after midday Friday.The consumer price index rose 0.4% month on month, the fastest pace since May and above July's 0.1% gain, the Bureau of Labor Statistics data showed Friday. The move matched the Bloomberg-polled consensus. Core inflation, which excludes the more volatile food and energy components, jumped to a four-month high of 0.3%, exceeding market projections for an unchanged 0.2% growth.On an annual basis, headline inflation held steady at 3.4%, as expected. The annual core measure eased to 2.4% from 2.5%, also in line with projections.Most US Treasury yields rose in midday trading. The two-year jumped 6.3 basis points to 4.61%, the highest since mid-2024. The 10-year yield was steady at 4.94%, the strongest level since October 2023.The front-month US West Texas Intermediate crude oil contract slumped 3.2% to $99.18 per barrel, and global benchmark North Sea Brent dropped 3% to $104.40 per barrel.

Dow JonesNasdaq CompositeS&P 500$ACVA$ADBE$CPRT$EXEL$FAS$FAZ$GLD$IBB$IGM$IYE$IYH$IYJ$IYK$IYW$KR$PBR$QQQ$RTH$SLV$SOXX$SPY$UBS$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD

Commodities5d ago

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday Amid Inflation Data Release

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.8% and the actively traded Invesco QQQ Trust (QQQ) was 1% higher in Friday's premarket activity amid inflation data release.US stock futures were also higher, with S&P 500 Index futures up 0.7%, Dow Jones Industrial Average futures advancing 0.7%, and Nasdaq futures gaining 0.8% before the start of regular trading.The US seasonally adjusted consumer price index, a measure of inflation, rose by 0.4% in August, as expected, and following a 0.1% increase in July, according to data released by the Bureau of Labor Statistics.The preliminary University of Michigan consumer sentiment reading for September will be released at 10 am ET.In premarket activity, bitcoin was down by 0.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% lower, Ether ETF (EETH) retreated 0.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) lost 0.04%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.9%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.Copart (CPRT) stock was up more than 6% after the company agreed to acquire ACV Auctions (ACVA) for $10.50 per share in cash, valuing the company at about $1.90 billion. ACV Auctions shares were up 44% premarket.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 1.1%, the iShares US Technology ETF (IYW) was 0.7% higher, and the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) advanced 0.7%, while the iShares Semiconductor ETF (SOXX) rose by 1.4%.Adobe (ADBE) shares were down 3% after the software maker provided a fiscal Q4 revenue outlook below analyst estimates at the midpoint.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.5%, while the Vanguard Health Care Index Fund (VHT) and the iShares US Healthcare ETF (IYH) were inactive. The iShares Biotechnology ETF (IBB) was flat.Exelixis (EXEL) stock was down more than 3% premarket after the company said that the US Food and Drug Administration extended the review period for its new drug application for its metastatic colorectal cancer candidate, zanzalintinib, in combination with atezolizumab, by three months.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) was up 2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 2.2% lower.UBS Group (UBS) shares were up 2% in early hours activity after the company said it has accepted $7.93 billion aggregate principal amount of notes in its cash tender offers for nine series of debt securities and upsized its maximum offer amount to about $5.85 billion from $4 billion.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) and the iShares US Consumer Staples ETF (IYK) were inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.4%. The VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail ETF (XRT) were inactive.Kroger (KR) shares were down nearly 2% pre-bell after the company cut its guidance for full-year identical sales, excluding fuel.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was down 0.8%.Petrobras (PBR) stock was up more than 1% before market open after Reuters reported Thursday that the company plans to increase diesel prices at its refineries by roughly 1 Brazilian reais ($0.20), though the state-run oil company is waiting for government measures to protect consumers from the move.CommoditiesFront-month US West Texas Intermediate crude oil was down by 3.1% at $99.30 per barrel on the New York Mercantile Exchange. Natural gas was 1.8% lower at $2.78 per 1 million British Thermal Units. The United States Oil Fund (USO) declined 2.8%, while the United States Natural Gas Fund (UNG) retreated 1.6%.Gold futures for November were down by 1.4% at $4,346.10 an ounce on the Comex. Silver futures retreated 1.8% to $63.77 an ounce. SPDR Gold Shares (GLD) increased 0.9%, and the iShares Silver Trust (SLV) was 1.4% higher.

Dow JonesNasdaq CompositeS&P 500$ACVA$ADBE$CPRT$KR$MU$ORCL$PBR

Update: US Equity Futures Higher Pre-Bell as Traders Assess More Inflation Data and Drop in Oil Prices

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging higher pre-bell Friday as traders assessed the second of two key inflation reports this week and observed a drop in oil prices.Dow Jones Industrial Average futures were 0.7% higher, S&P 500 futures were up 0.7%, and Nasdaq futures were 0.8% higher.The US is continuing its campaign of economic pressure on Iran and its financial connections, with Treasury Secretary Scott Bessent saying that "a large bank" will be sanctioned by the US on Monday, according to a CNBC report.Iran-backed Houthi forces have taken over the port city of Mokha in Yemen, potentially giving Iran an avenue to increase attacks on vessels in the Red Sea, which has been an alternative route for ships avoiding the Strait of Hormuz, The Associated Press reported.Traders digested the latest round of earnings, with Kroger (KR) posting higher fiscal Q2 adjusted earnings and sales.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3.1% at $104.32 per barrel and US West Texas Intermediate crude 3.1% lower at $99.31 per barrel.The August consumer price index, released at 8:30 am ET, rose 0.4%, compared with a 0.1% gain in the previous month, and meeting expectations in a survey compiled by Bloomberg.The University of Michigan consumer sentiment index for September, slated for 10 am ET, is expected at 51.0, down from 51.7 previously.In other world markets, Japan's Nikkei closed 1.9% lower, Hong Kong's Hang Seng ended 0.6% lower, and China's Shanghai Composite finished 1.2% lower. Meanwhile, the UK's FTSE 100 was up 0.7%, and Germany's DAX index was 0.7% higher in Europe's early afternoon session.In equities, Oracle (ORCL) shares were up 6.3% after the company reported late Thursday stronger-than-expected growth in fiscal Q1 adjusted earnings and sales and raised its full-year outlook. Micron Technology (MU) stock was up 1.8% after a Reuters report that the company will award its direct-labor employees in Taiwan with bonuses equivalent to 35 to 68 months of pay for fiscal 2026 after what it described as an extraordinary year. Copart (CPRT) and ACV Auctions (ACVA) shares rose 6.9% and 45%, respectively, after the two companies said Copart will buy ACV Auctions for $10.50 per share in cash, valuing the company at about $1.9 billion.On the losing side, Adobe (ADBE) shares fell 3.5% after the company late Thursday provided a fiscal Q4 revenue outlook below Wall Street's estimates at the midpoint and maintained its full-year annualized recurring revenue growth guidance. Petrobras (PBR) stock was down 1.6% after a Reuters report that the company plans to increase diesel prices at its refineries by roughly 1 Brazilian reais ($0.20). Kroger shares dropped 2.7% after the company fell short of analysts' consensus estimates for fiscal Q2 sales.

US Markets5d ago

Stocks Rise Pre-Bell Ahead of Key Consumer Inflation Report

US equity markets were tracking in the green before the opening bell Friday as traders brace for a key consumer inflation report ahead of the Federal Reserve's monetary policy meeting next week.The S&P 500, the Dow Jones Industrial Average and the Nasdaq were up 0.6% each in premarket activity. The indexes finished Thursday trading lower for the fourth consecutive session.The consumer price index report for August is scheduled to be released at 8:30 am ET. Data are expected to show that consumer inflation increased 0.4% sequentially and 3.4% annually, according to a Bloomberg-compiled consensus.Wall Street projects core CPI, which excludes volatile items such as food and energy, to rise 0.2% month over month and 2.4% year over year for August.Treasury yields were mixed, with the two-year rate gaining 0.3 basis points to 4.55% while the 10-year rate declined 0.6 basis points to 4.94%.On Thursday, government data showed that producer prices rose at the fastest pace in three months in August amid higher fuel costs. Oxford Economics predicted further upward pressure on wholesale costs as domestic diesel prices hit fresh peaks.Markets are pricing in a 68% probability that the Fed will raise the benchmark lending rate by 25 basis points at its Sept. 15-16 meeting, according to the CME FedWatch tool. The remaining odds point to another central bank pause.West Texas Intermediate crude oil dropped 3.4% to $99.02 a barrel, while Brent slipped 3.7% to $103.65.The International Energy Agency said Friday it now forecasts global oil demand to drop by 2.5 million barrels a day this year, 940,000 barrels more than its previous estimate last month, with the deadlock in US-Iran negotiations likely to delay the normalization of crude flows into 2027.On Thursday, the Organization of the Petroleum Exporting Countries cut its global oil demand outlook for 2026 as high energy prices are expected to weigh on consumption.The average diesel price in the US hit a fresh record high at $6.0556 per gallon on Friday, according to AAA motor club data. The regular gas price rose to $4.2950 per gallon from $4.0116 a month ago.Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern side of the Red Sea, Reuters reported.Friday's economic calendar also has the preliminary University of Michigan's consumer sentiment report for September at 10 am, followed by the weekly Baker Hughes oil-and-gas rig count at 1 pm.Shares of Oracle (ORCL) jumped 6.7% pre-bell as the cloud computing company reported fiscal first-quarter results above Wall Street's estimates. Adobe (ADBE) fell 3.8% as the Photoshop maker provided a fiscal fourth-quarter revenue outlook below market expectations at the midpoint.Kroger (KR) reports its latest financial results before the bell.Gold dipped 0.4% to $4,390 per troy ounce, while bitcoin decreased 0.2% to $77,001.

Dow JonesNasdaq CompositeS&P 500$ADBE$KR$ORCL

Dow JonesNasdaq CompositeS&P 500$KR

US Equity Futures Higher Pre-Bell as Traders Await More Inflation Data Amid Drop in Oil Prices

US equity futures were edging higher pre-bell Friday as traders awaited the second of two key inflation reports this week and observed a drop in oil prices.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 0.6% higher.The US is continuing its campaign of economic pressure on Iran and its financial connections, with Treasury Secretary Scott Bessent saying that "a large bank" will be sanctioned by the US on Monday, according to a CNBC report.Iran-backed Houthi forces have taken over the port city of Mokha in Yemen, potentially giving Iran an avenue to increase attacks on vessels in the Red Sea, which has been an alternative route for ships avoiding the Strait of Hormuz, The Associated Press reported.Traders digested the latest round of earnings, with Kroger (KR) posting higher fiscal Q2 adjusted earnings and sales.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3.3% at $104.06 per barrel and US West Texas Intermediate crude 3.1% lower at $99.31 per barrel.The August consumer price index, a major inflation indicator scheduled for release at 8:30 am ET, is seen gaining 0.4% month over month, compared with a 0.1% increase in the prior month, according to estimates compiled by Bloomberg.The University of Michigan consumer sentiment index for September, slated for 10 am ET, is expected at 51.0, down from 51.7 previously.

Easing Oil Bills, Tech Optimism Lift Wall Street Pre-Bell, Asia off, Europe Up

Wall Street futures pointed moderately higher pre-bell Friday as easing oil prices were met with renewed tech-sector optimism, after a strong earnings release from Oracle (ORCL).In futures, the S&P 500 rose 0.5%, the Nasdaq was up 0.6%, and the Dow Jones gained 0.6%.Oracle traded up 7.1% pre-bell after the IT giant overnight reported stronger-than-expected fiscal Q1 earnings and sales, and raised guidance.The VanEck Semiconductor fund (SMH) traded up 0.8% pre-bell.In morning action, West Texas Intermediate crude oil futures traded down 3.6% to $98.83 a barrel after the International Energy Agency issued a downward revision to global petroleum consumption in 2026, citing demand destruction caused by higher prices.Investors also await the consumer price index (CPI) bulletin for August, slated for 8:30 am ET, the last major inflation report before the Federal Reserve meets next week to set monetary policy.The yields on 10-year US Treasuries offered 4.94% in morning action.Asian exchanges traded mostly lower overnight, while European bourses tracked moderately higher at midday.Also on the economic calendar is the University of Michigan September consumer sentiment survey 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 $77,024, and spot gold commanded $4,346 an ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$COO

Asia Markets6d ago

Update: US Equity Indexes Decline as Treasury Yields Soar Amid Hot Wholesale Inflation Print, Escalation in Iran War Threatens Red Sea Chokepoint

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes fell as crude oil and government bond yields surged after an inflation gauge grew at the fastest pace in three months and an Iran-aligned militia group's threats to an alternative shipping route to the Strait of Hormuz mounted.The Nasdaq Composite declined 0.7% to 26,081.73, the S&P 500 retreated 0.6% to 7,591.70, and the Dow Jones Industrial Average dropped 0.6% to 52,064.10 on Thursday. All sectors except communication services and consumer staples dropped. Materials and utilities led the decliners.The Bureau of Labor Statistics' wholesale price inflation gauge, the Producer Price Index, jumped 5.4% from a year ago in August, above the 5.3% forecast in a Bloomberg-compiled survey, and 4.8% in July. The PPI edged up 0.4% month over month, as expected, following a 0.1% increase in July. The August print is the highest growth rate since May.Core PPI, which excludes volatile food and energy prices, climbed 4.6%, as anticipated, from a year ago, and up from 4.3% in July. Core PPI climbed 0.2%, below July's 0.3% and the 0.3% forecast."Based on the timing of the PPI survey, we expect another rise in September's report, as diesel prices have climbed nearly 60 cents and gasoline prices have risen close to 20 cents during the survey window, which is in the middle of the month," Grace Zwemmer, US economist at Oxford Economics, said in a note.US Treasury yields traded sharply higher across the term structure, with the 10-year yield surging 12.3 basis points to 4.96%, the highest since October 2023.The European Central Bank raised its three key interest rates by 25 basis points on Thursday, as the energy shock caused by the ongoing Middle East war pushed inflation in the euro area above its 2% medium-term target.Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea, according to a report from Reuters. Bab al-Mandeb is a geopolitical chokepoint similar to the Strait of Hormuz linking Asia and Europe via the Suez Canal.If the Houthis impose a stranglehold over the waterway, on the opposite side of the Arabian Peninsula from the Strait of Hormuz, it could give their sponsor Iran a critical advantage in the war with the United States, reducing supplies through a second major transit corridor, the news report said.Saudi Arabia reported to the Organization of the Petroleum Exporting Countries that its crude oil production plunged again last month, down by 1.9 million barrels a day to 6.238 million barrels, the lowest since 1990, as renewed hostilities between the US and Iran squeezed the kingdom's export routes, Bloomberg reported.The front-month US West Texas Intermediate crude oil contract climbed 7.2% to $102.92 per barrel, and global benchmark North Sea Brent rose 6.9% to $108.16 per barrel.Gold futures dropped 2.2% to $4,363.5, and silver futures sank 6.6% to $64.15.In US company news, shares of Cooper Companies (COO) sank almost 15%, the worst performer on the S&P 500, after a fiscal Q3 revenue miss overshadowed its earnings beat, and the company also cut its full-year outlook.Apple (AAPL) rose 3.6%, the Dow's top gainer, as the iPhone manufacturer unveiled its first foldable smartphone on Wednesday.

Japan6d ago

US Equity Markets End Lower as Crude Oil Surges, Bond Yields Rise

US equity indexes ended lower Thursday after crude oil surged and government bond yields rose.* The Bureau of Labor Statistics' wholesale price inflation gauge, the Producer Price Index, jumped 5.4% in August from a year earlier, above the 5.3% forecast in a Bloomberg survey, and up from 4.8% in July.* Core PPI, which excludes volatile food and energy prices, climbed 4.6% from a year earlier, as expected, and up from 4.3% in July.* Initial jobless claims last week fell to 206,000 from an upwardly revised 207,000 in the previous week, compared with expectations for 205,000 in a Bloomberg poll.* Iran-aligned Houthis seized control of Yemen's port city of Mokha, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea, Reuters reported.* October West Texas Intermediate crude oil rose $6.89 to settle at $102.94 per barrel, while November Brent crude, the global benchmark, was last seen up $7.05 at $108.26.* Cooper Companies (COO) shares fell 15%, the steepest drop on the S&P 500, after the company cut its fiscal 2026 guidance. BofA Securities downgraded the stock to neutral from buy and lowered its price target to $65 from $80.* Apple (AAPL) is apparently prioritizing volume gains over margins with its lower-than-expected pricing on the new iPhones, including its first-ever foldable smartphone, Morgan Stanley said. Apple shares rose 3.6%, the top gainer on the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$AAPL$COO

US Markets6d ago

Update: Equities Fall For Fourth Day as Traders Boost Rate Hike Bets

(Updates with market moves at the end of the day, and other changes, if any.)Stocks on Wall Street dropped for the fourth session in a row on Thursday as interest rate traders boosted bets that the Federal Reserve could tighten its monetary policy next week.The Nasdaq Composite declined 0.7% to close at 26,081.72. The Dow Jones Industrial Average and the S&P 500 fell 0.6% each to 52,064.10 and 7,591.70, respectively. Barring communication services and consumer staples, all sectors ended in the red, led by materials.US producer prices rose at the fastest pace in three months in August amid higher fuel costs, official data showed Thursday. Oxford Economics predicted further upward pressure on wholesale costs as domestic diesel prices hit fresh peaks.Markets are now pricing in a 71% probability that the Fed will raise the benchmark lending rate by 25 basis points, up from 61% on Wednesday, according to the CME FedWatch tool. The remaining odds point to another Fed pause.The August consumer price index report is scheduled for release on Friday.West Texas Intermediate crude oil was up 6.9% at $102.65 a barrel in Thursday late-afternoon trade, while Brent surged 6.7% to $107.96.Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern side of the Red Sea, Reuters reported.The Organization of the Petroleum Exporting Countries cut its global oil demand outlook for 2026 on Thursday as high energy prices are expected to weigh on consumption.US Treasury yields jumped, with the two-year rate up 14.4 basis points at 4.57% and the 10-year rate rising 11.4 basis points to 4.95%.Cooper Companies (COO) shares were the worst performer on the S&P 500, down nearly 15%. The medical device manufacturer's fiscal third-quarter results released late Wednesday showed sales missed Wall Street's estimates, overshadowing the earnings beat. It also lowered its full-year outlook.Apple (AAPL) rose 3.6%, the biggest gain on the Dow. The iPhone maker unveiled its first foldable smartphone Wednesday, entering a category currently led by Samsung.Apple is apparently prioritizing volume gains over margins with its lower-than-expected pricing on the new iPhones, Morgan Stanley said in a note.Spot gold lost 1.7% to $4,322.11 per troy ounce, while silver slumped 6.5% to $64.20 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$COO

Japan6d ago

Update: US Equity Indexes Fall as Hot Producer Prices, Soaring Crude Oil Boost Treasury Yields

(Updates with index/price moves, macroeconomic data, comments and company/geopolitical news from the first paragraph.)US equity indexes fell as crude oil and government bond yields soared after an inflation gauge grew at the quickest pace in three months and an Iran-aligned militia group's threat to the alternative shipping route to the Strait of Hormuz escalated.The Nasdaq Composite declined 0.6% to 26,091.2, the S&P 500 retreated 0.6% to 7,594.1, and the Dow Jones Industrial Average dropped 0.7% to 52,036.6 ahead of Thursday's close.The Bureau of Labor Statistics' wholesale price inflation gauge, the Producer Price Index, jumped 5.4% from a year ago in August, above the 5.3% forecast in a Bloomberg-compiled survey, and 4.8% in July. The PPI edged up 0.4% month over month, as expected, following a 0.1% increase in July. The August print is the highest growth rate since May.Core PPI, which excludes volatile food and energy prices, climbed 4.6%, as anticipated, from a year ago, and up from 4.3% in July. Core PPI climbed 0.2%, below July's 0.3% and the 0.3% forecast."Based on the timing of the PPI survey, we expect another rise in September's report, as diesel prices have climbed nearly 60 cents and gasoline prices have risen close to 20 cents during the survey window, which is in the middle of the month," Grace Zwemmer, US economist at Oxford Economics, said in a note.US Treasury yields traded sharply higher in the final leg of trading. The two-year soared 13.3 basis points to 4.56%, and the 10-year yield surged 11.7 basis points to 4.96%.Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea, according to a report from Reuters. Bab al-Mandeb is a geopolitical chokepoint similar to the Strait of Hormuz linking Asia and Europe via the Suez Canal.Saudi Arabia reported to the Organization of the Petroleum Exporting Countries that its crude oil production plunged again last month, down by 1.9 million barrels a day to 6.238 million barrels, the lowest since 1990, as renewed hostilities between the US and Iran squeezed the kingdom's export routes, Bloomberg reported.The front-month US West Texas Intermediate crude oil contract catapulted 6.3% to $102.06 per barrel, and global benchmark North Sea Brent shot up 6% to $107.23 per barrel.