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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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Japan

US Equity Markets End Lower After Trump Proposes Blockade of Iranian Ships, Toll on Strait of Hormuz

US equity indexes closed lower Monday after President Donald Trump suggested a plan to reinstate a blockade on Iranian ships and charge a toll for providing security to cargo vessels crossing the Strait of Hormuz, sending crude oil prices higher.* "We are reinstating the IRANIAN BLOCKADE," Trump said in a Truth Social post on Monday, following a weekend of attacks on Iran. He added that the US will protect vessels crossing the Strait and charge 20% of the cargo's cost as expense reimbursement.* August West Texas Intermediate crude oil rose $6.23 to settle at $77.64 per barrel, while September Brent crude, the global benchmark, was last seen up $6.90 at $82.91.* Valero Energy (VLO) stock was up 5.4%, and Phillips 66 (PSX) was 5.3% higher, among the top gainers on the S&P 500, after crude oil prices rose following clashes between the US and Iran.* Alphabet's (GOOG, GOOGL) Google is one of the biggest buyers of Nvidia's (NVDA) AI server chips, but it has also been expanding its in-house AI chip business in a move that could challenge Nvidia's dominance, The Information reported. Alphabet shares were down 1.3%, and Nvidia fell 3.5%, the worst performer on the Dow.

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$NVDA$PSX$VLO
Japan

Update: US Equity Indexes Slump as Trump's Plan to Reinstate Iran Blockade, Impose 20% Toll on Hormuz Cargo Sends Crude Oil Higher

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes fell after President Donald Trump said he plans to reinstate a blockade on Iranian ships transiting the Strait of Hormuz while proposing a toll for providing "safety and security" to cargo crossings in the chokepoint to about a fifth of global crude oil flows.The Nasdaq Composite dropped 1.6% to 25,875.7, with the Dow Jones Industrial Average down 0.3% to 52,500.5 and the S&P 500 lower by 0.7% to 7,521.5 ahead of Monday's close. Technology led decliners, while energy topped advancers. Chevron (CVX) was the Dow's second-biggest gainer, up 3.1%.The front-month global benchmark North Sea Brent surged 8.8% to $82.66 a barrel, and the US West Texas Intermediate soared 8.7% to $77.60 a barrel as tensions with Iran escalated at a time when Washington and Tehran ought to be engaged in negotiations to reach a final peace agreement within the 60-day period allocated for such talks as part of the June 21 interim deal."We are reinstating the IRANIAN BLOCKADE," Trump said in a Truth Social post on Monday, following a weekend of attacks on Iran."The U.S.A. will be, from this point forward, known as "THE GUARDIAN OF THE HORMUZ STRAIT," Trump said. The US "will be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs necessary to do the job of providing safety and security to this very volatile section of the World."On Sunday, the US Central Command said it completed a new wave of strikes against Tehran at multiple locations, after conducting attacks a day earlier in response to the country targeting another commercial ship transiting through the Strait of Hormuz. Iran responded by targeting US military facilities in Jordan, Kuwait, Bahrain, Qatar, and Oman, according to local state media.

Dow JonesNasdaq CompositeS&P 500$CVX
Equities Fall Intraday, Oil Soars as Trump Reinstates Iranian Shipping Blockade in Hormuz
US Markets

Equities Fall Intraday, Oil Soars as Trump Reinstates Iranian Shipping Blockade in Hormuz

US benchmark equity indexes were lower intraday, while oil prices jumped as President Donald Trump said Washington was reinstating a blockade of Iranian shipping through the Strait of Hormuz amid rising tensions in the Middle East.The Nasdaq Composite was down 1.3% at 25,939.2 after midday Monday, while the S&P 500 fell 0.7% to 7,526.4. The Dow Jones Industrial Average shed 0.3% to 52,507. Among sectors, technology saw the steepest decline, while energy paced the gainers.West Texas Intermediate crude was up 7.4% at $76.72 a barrel, while Brent gained 7.5% to $81.76.The US and Iran continued to exchange airstrikes over the weekend, with Tehran targeting American military facilities across several Middle Eastern countries, news outlets reported. Iran's Islamic Revolutionary Guard Corps reportedly said it closed the crucial Strait of Hormuz until further notice, though the US military disputed the claim.The strait is open and will remain so "with or without Iran," Trump said in a social media post Monday, adding that the US was reinstating a blockade of Iranian shipping through the narrow waterway."The USA will be, from this point forward, known as 'the guardian of the Hormuz strait,' but as such, and as a matter of fairness, will be reimbursed, at the rate of 20% on all cargo shipped," Trump said.Hostilities between the US and Iran resumed recently, weeks after they signed a memorandum of understanding to end their war. The Strait of Hormuz is the world's most important chokepoint for crude flows.The growing US-Iran conflict threatens to derail the recovery of global oil inventories and further diminishes the chances of a diplomatic breakthrough, Saxo Bank said in a note.The Organization of the Petroleum Exporting Countries on Monday reduced its global oil demand growth outlook for this year while upgrading its projection for 2027.US Treasury yields were higher intraday, with the two-year rate up 5.7 basis points at 4.27% and the 10-year rate rising 4.5 basis points to 4.61%.In company news, First Hawaiian (FHB) agreed to acquire TriCo Bancshares (TCBK) in an all-stock deal to create one of the largest banks headquartered in the western US, with combined assets of about $34 billion. First Hawaiian shares were down 4%, while TriCo jumped 11%.US banking giants JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC), Morgan Stanley (MS), and Citigroup (C) are expected to report their latest quarterly financial results later this week, along with other major corporations, including Johnson & Johnson (JNJ), UnitedHealth (UNH) and Netflix (NFLX).Gold fell 2.7% to $4,004.80 per troy ounce, while silver lost 3.7% to $57.92 per ounce.

Dow JonesNasdaq CompositeS&P 500$BAC$C$FHB$GS$JNJ$JPM$MS$NFLX$TCBK$UNH$WFC
Asia Markets

Update: US Equity Indexes Fall, Crude Oil Surges as Trump Plans to Reinstate Iran Blockade, Proposes 20% Toll on Hormuz Cargo

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes fell after President Donald Trump said he plans to reinstate a blockade on Iranian ships transiting the Strait of Hormuz while proposing a toll for cargo using the chokepoint for about a fifth of global crude oil flows, sending crude oil and Treasury yields sharply higher.The Nasdaq Composite dropped 1.4% to 25,921.3, with the Dow Jones Industrial Average down 0.3% to 52,505.5 and the S&P 500 lower by 0.6% to 7,529 after midday Monday.Technology led decliners, while energy topped advancers. Chevron (CVX) was the Dow's second-biggest gainer, up 2.6%.On Sunday, the US Central Command said it completed a new wave of strikes against Tehran at multiple locations, after conducting attacks a day earlier in response to the country targeting another commercial ship transiting through the Strait of Hormuz. Iran responded by targeting US military facilities in Jordan, Kuwait, Bahrain, Qatar, and Oman, according to local state media.Iranian ships will not be able to travel through the Strait of Hormuz, media reports cited Trump as saying on Monday. The US will act as "THE GUARDIAN OF THE HORMUZ STRAIT" and will receive reimbursement for all incurred costs "at the rate of 20% on all cargo shipped," Trump said Monday on Truth Social. He said the strait is open and will remain so for all non-Iranian vessels.The front-month global benchmark North Sea Brent surged 6.5% to $80.91 a barrel, and the US West Texas Intermediate jumped 6.4% to $75.97 a barrel."Oil prices jumped, with Brent trading near USD 80 per barrel, after the battle for control over the Strait of Hormuz escalated over the weekend," Saxo Bank said in a note. "Fresh strikes by US and Iran renewed concerns about the safe passage of oil and other key commodities through the narrow waterway.""The hostilities also risk derailing efforts to rebuild inventories, according to the IEA, while further reducing the prospects for a diplomatic resolution," the note said.US Treasury yields rose, with the 10-year up 4.5 basis points to 4.61% and the two-year jumped 6.1 basis points to 4.27%.In precious metal markets, gold futures slumped 2.8% to $4,003.2, and silver futures sank 3.8% to $57.88.In company news, SK Hynix (SKHY) Chief Executive Kwak Noh-Jung expects the global shortage of memory chips to persist beyond 2030 as demand driven by artificial intelligence continues to outpace supply, Bloomberg reported Friday. Shares were down 6.9% on Monday, following the company's Nasdaq debut Friday.

Dow JonesNasdaq CompositeS&P 500$CVX$SKHY
Asia Markets

Exchange-Traded Funds Point Lower as US Equities Decline After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV fell. Actively traded Invesco QQQ Trust (QQQ) eased 1.6%.US equity indexes fell after crude oil prices jumped with government bond yields amid reports that President Donald Trump will reinstate a blockade on Iranian ships transiting the Strait of Hormuz.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added 2.5%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) fell 2.1%; iShares US Technology ETF (IYW) shed 1.7%, and iShares Expanded Tech Sector ETF (IGM) was down 1.8%.The State Street SPDR S&P Semiconductor (XSD) declined 4.9%, and iShares Semiconductor (SOXX) fell 4.7%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) advanced 1.1%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 1.2%.CommoditiesCrude oil gained 5.3%, and the United States Oil Fund (USO) rose 5.2%. Natural gas lost 1.4%, and the United States Natural Gas Fund (UNG) was down 1.4%.Gold on Comex dipped 2.7%, and the State Street SPDR Gold Shares (GLD) eased 2.7%. Silver was down 3.7%, and iShares Silver Trust (SLV) was 3.6% lower.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) added 0.6%. The Vanguard Consumer Staples ETF (VDC) rose 0.4%, and iShares Dow Jones US Consumer Goods (IYK) was up 0.5%.The State Street Consumer Discretionary Select Sector SPDR (XLY) fell 0.9%. VanEck Retail ETF (RTH) added 0.5%, and the State Street SPDR S&P Retail (XRT) shed 0.3%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 0.4%, iShares US Healthcare (IYH) added 0.2%, and Vanguard Health Care ETF (VHT) was up 0.1%. IShares Biotechnology ETF (IBB) was down 1.6%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) slipped 0.9%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 2.9%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) declined 2.7%, ProShares Ether ETF (EETH) dipped 0.8%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 2.2% lower.

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

Update: US Equity Indexes Drop, Crude Oil Surges as Iran Tensions Intensify

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes fell after crude oil prices jumped with government bond yields amid reports that President Donald Trump will reinstate a blockade on Iranian ships transiting the Strait of Hormuz.The Nasdaq Composite dropped 1.3% to 25,939.4, with the Dow Jones Industrial Average down 0.5% to 52,383.7 and the S&P 500 lower by 0.7% to 7,523.7 after midday Monday.Technology led decliners, while energy topped the gainers.US President Donald Trump said Monday that Iranian ships will no longer be able to travel through the Strait of Hormuz and that America would charge a 20% toll on eligible cargo, escalating tensions after a weekend of attacks by both nations to assert control of the critical waterway, the Associated Press reported.The US launched several waves of heavy strikes on Iran into Monday morning, hitting some 140 targets, in response to an Iranian attack on a container ship in the Strait of Hormuz, the news report said. Iran retaliated by targeting countries across the Middle East, it added.The front-month global benchmark North Sea Brent surged 5.1% to $79.92 a barrel, and the US West Texas Intermediate soared 5.1% to $75.06 a barrel.US Treasury yields rose, with the 10-year up 4.5 basis points to 4.61% and the two-year jumped 6.5 basis points to 4.27%.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Monday as Renewed US-Iran Conflict Lifts Oil Prices

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4%, and the actively traded Invesco QQQ Trust (QQQ) retreated 1% in Monday's premarket activity, as renewed military tensions between the US and Iran drove oil prices higher.US stock futures were also lower, with S&P 500 Index futures down 0.3%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures retreating 0.9% before the start of regular trading.Fed Governor Christopher Waller is slated to speak on Monday.In premarket action, bitcoin was down by 2.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.9% lower, Ether ETF (EETH) retreated 0.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 2%.Power Play:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.9% lower.First Hawaiian (FHB) shares traded down 6% in early hours activity, while TriCo Bancshares (TCBK) was up 7% after the companies signed a definitive agreement for First Hawaiian to acquire TriCo in an all-stock transaction.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.5%, and the iShares US Technology ETF (IYW) was 0.4% lower, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 3.2%, while the iShares Semiconductor ETF (SOXX) declined by 3.3%.Intel (INTC) shares were down more than 3% in premarket activity after the company said it is investing 5 billion euros ($5.71 billion) in its Leixlip campus in Ireland to scale capacity to deliver Intel Xeon 6 and next-gen Intel Xeon built on its Intel 3 node.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) was down 0.2%, the Vanguard Industrials Index Fund (VIS) retreated 0.4%, and the iShares US Industrials ETF (IYJ) was inactive.Rockwell Automation (ROK) stock declined more than 3% before the opening bell following a 1% rise at Friday's close. Citigroup lifted the company's price target to $555 from $500 and maintained its buy rating.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.4% lower.InMode (INMD) stock was down more than 1% premarket after rising 1.8% at the prior close. The company reported preliminary Q2 revenue of $95.2 million to $95.4 million.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.1%, and the iShares US Consumer Staples ETF (IYK) was down 0.9%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.1% lower.Nio (NIO) shares were up more than 1% pre-bell after Goldman Sachs upgraded the company to buy from neutral and lifted its price target to $7 from $6.60.EnergyThe iShares US Energy ETF (IYE) was up 0.5%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1.5%.Pembina Pipeline (PBA) stock was up more than 1% before the market open, reversing the 0.8% fall in the prior session. Wells Fargo upgraded Pembina Pipeline to overweight from underweight and raised its price target to CA$76 from CA$55.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 3.8% to $74.09 per barrel on the New York Mercantile Exchange. Natural gas was down by 1.5% to $2.90 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 4%, while the United States Natural Gas Fund (UNG) was 1.4% lower.Gold futures for July fell 1.1% to $4,068.70 an ounce on the Comex. Silver futures retreated by 2.4% to $58.71 an ounce. SPDR Gold Shares (GLD) decreased 1.1%, and the iShares Silver Trust (SLV) was 2.2% lower.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$FHB$GLD$IBB$IGM$IGV$INMD$INTC$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NIO$PBA$PMR$QQQ$ROK$RTH$SLV$SOXX$SPY$TCBK$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

Update: US Equity Futures Drop Pre-Bell as Iran Says Strait of Hormuz Closed Once Again, Oil Prices Jump

(Updates with recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were lower pre-bell Monday as hostilities continued to re-escalate in the Middle East and Iran declared the Strait of Hormuz once again closed, driving up oil prices.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 1.2% lower.The US and Iran traded heavy missile and drone attacks over the weekend, with the US military saying they hit Iranian military facilities, while Iran's Revolutionary Guards said they had struck US installations in Bahrain, Kuwait, Oman and Jordan.Iran, which is seeking to set up a permanent fee and permit system for ships transiting the Strait of Hormuz, said Sunday that the waterway remains closed until "stability and calm" is restored.In a post on X, US Central Command said that its forces are "postured and prepared to ensure that freedom of navigation remains available to commercial shipping."Traders await a slew of earnings releases this week, including results from major US banks JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), and Citigroup (C) on Tuesday; Johnson & Johnson (JNJ), Morgan Stanley (MS), and BlackRock (BLK) on Wednesday; and Taiwan Semiconductor Manufacturing (TSM), UnitedHealth Group (UNH), GE Aerospace (GE), and Netflix (NFLX) on Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.3% at $79.27 per barrel and US West Texas Intermediate crude 4.2% higher at $74.41 per barrel.Federal Reserve board members Michelle Bowman and Christopher Waller are slated to speak on Monday.In other world markets, Japan's Nikkei closed 1.9% lower, Hong Kong's Hang Seng ended 0.2% higher, and China's Shanghai Composite finished 2.1% lower. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was flat in Europe's early afternoon session.In equities, Micron Technology (MU), AMD (AMD), and Intel (INTC) stocks were lower as part of a broader decline in the semiconductor sector. Micron shares fell 5.5%, AMD stock was down 2.9%, and Intel shares were 3.5% lower.On the winning side, the increase in oil prices lifted energy-related stocks. TotalEnergies (TTE) shares were up 1.6%, ConocoPhillips (COP) stock was 1.9% higher, and BP (BP) shares rose 1.6%. Accenture (ACN) stock was up 1% after the company said its subsidiary Accenture Capital on Friday closed the sale of five tranches of notes totaling approximately $5 billion.

Dow JonesNasdaq CompositeS&P 500$ACN$AMD$BAC$BLK$BP$C$COP$GE$GS$INTC$JNJ$JPM$MS$MU$NFLX$TSM$TTE$UNH$WFC
Japan

US Equity Futures Drop Pre-Bell as Iran Says Strait of Hormuz Closed Once Again, Oil Prices Jump

US equity futures were lower pre-bell Monday as hostilities continued to re-escalate in the Middle East and Iran declared the Strait of Hormuz once again closed, driving up oil prices.Dow Jones Industrial Average futures were down 0.1%, S&P 500 futures were down 0.3%, and Nasdaq futures were 0.9% lower.The US and Iran traded heavy missile and drone attacks over the weekend, with the US military saying they hit Iranian military facilities, while Iran's Revolutionary Guards said they had struck US installations in Bahrain, Kuwait, Oman and Jordan.Iran, which is seeking to set up a permanent fee and permit system for ships transiting the Strait of Hormuz, said Sunday that the waterway remains closed until "stability and calm" is restored.In a post on X, US Central Command said that its forces are "postured and prepared to ensure that freedom of navigation remains available to commercial shipping."Traders await a slew of earnings releases this week, including results from major US banks JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), and Citigroup (C) on Tuesday; Johnson & Johnson (JNJ), Morgan Stanley (MS), and BlackRock (BLK) on Wednesday; and Taiwan Semiconductor Manufacturing (TSM), UnitedHealth Group (UNH), GE Aerospace (GE), and Netflix (NFLX) on Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.4% at $78.59 per barrel and US West Texas Intermediate crude 3.4% higher at $73.88 per barrel.Federal Reserve board members Michelle Bowman and Christopher Waller are slated to speak on Monday.

Dow JonesNasdaq CompositeS&P 500$BAC$BLK$C$GE$GS$JNJ$JPM$MS$NFLX$TSM$UNH$WFC
Equity Futures Down Amid Middle East Tensions; Key Earnings on Deck
US Markets

Equity Futures Down Amid Middle East Tensions; Key Earnings on Deck

The benchmark US equity measures were pointing lower before the opening bell Monday amid rising tensions in the Middle East, as markets awaited key inflation data and some major corporate earnings due later this week.The S&P 500 declined 0.4% and the Nasdaq was off 1.2% in premarket activity, while the Dow Jones Industrial Average lost 0.1%. The three main indexes closed higher Friday.The US and Iran continued to exchange airstrikes over the weekend, news outlets reported.On Sunday, the US Central Command said it completed a new wave of strikes against Tehran at multiple locations, after conducting attacks a day earlier in response to the country targeting another commercial ship transiting through the Strait of Hormuz.Iran responded by targeting US military facilities in Jordan, Kuwait, Bahrain, Qatar and Oman, according to local state media. Iran's Islamic Revolutionary Guard Corps also reportedly said it closed the strait until further notice, though the US military disputed the claim."The Strait of Hormuz is open to all vessels seeking to lawfully transit the international waterway," CENTCOM said on the X platform. "Iran does not control the strait."West Texas Intermediate crude oil was up 3.4% at $73.81 a barrel before the open, while Brent gained 3.3% to $78.50.With no major economic data scheduled for Monday, traders await the official US consumer price index for June, scheduled for Tuesday, followed by data on wholesale prices and retail sales for the same month on Wednesday and Thursday, respectively.Federal Reserve Vice Chair for Supervision Michelle Bowman is scheduled to speak at 5:25 am ET Monday, while Fed Governor Christopher Waller speaks at 12:30 pm. Fed Chair Kevin Warsh's testimony is due later in the week.US Treasury yields were mixed in premarket action Monday, with the 10-year rate little changed at 4.57% and the two-year rate rising one basis point to 4.22%.Banking giants JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC), Morgan Stanley (MS), Citigroup (C) are all expected to release their latest financial results later this week, along with other major corporations, including Johnson & Johnson (JNJ), UnitedHealth (UNH) and Netflix (NFLX).Taiwan Semiconductor Manufacturing's (TSM) US-listed shares were up 0.1% pre-bell. Micron Technology (MU) fell 5.6%, while Nvidia (NVDA) decreased 1.7%.Gold dipped 0.9% to $4,075 per troy ounce, while bitcoin dropped nearly 2% to $62,893.

Dow JonesNasdaq CompositeS&P 500$BAC$C$GS$JNJ$JPM$MS$MU$NFLX$NVDA$TSM$UNH$WFC
Asia Markets

Strait of Hormuz Squeezes Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed lower pre-bell Monday as the status of the Strait of Hormuz remained uncertain, and as crude prices gained.Tehran said the key waterway is closed, but US officials have said they are keeping shipping lanes open.In the futures, the S&P 500 fell 0.3%, the Nasdaq declined 0.9% and the Dow Jones was steady.West Texas Intermediate crude oil traded up 3.2% at $73.72 in morning action.Meanwhile, traders gird for a heavy week of earnings releases, including premarket reports on Tuesday from financial behemoths JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), and Citigroup (C).In addition, Federal Reserve Chair Kevin Warsh's first semi-annual monetary policy reports to Congress are slated for Tuesday and Wednesday, possibly signal events for gauging the mood of the central banker.Investors are also looking ahead to the June consumer price index (CPI) release from Washington on Tuesday, and the June national retail sales bulletin on Thursday.Asian exchanges traded mostly lower overnight, led by a 9% decline on Seoul's KOSPI Index, when semiconductor giants Samsung Electronics and SK Hynix took hits.European bourses tracked modestly south midday on the continent.Federal Reserve board members Michelle Bowman and Christopher Waller are slated to speak on Monday.In premarket action, Bitcoin traded at $63,035, and 10-year US Treasuries offered 4.57%. Spot gold commanded $4,068 an ounce.

Dow JonesNasdaq CompositeS&P 500$BAC$C$GS$JPM$WFC
Asia Markets

US Equity Investors to Focus on Banks Kicking Off Q2 Earnings, Warsh's Take on Inflation, Worsening Geopolitics This Week

US equity investors will focus on Q2 earnings this week, with big money-centre banks kicking off the earnings season in earnest, and consumer price inflation data amid an escalation of tensions with Iran.* JPMorgan Chase (JPM), Citibank (C), Bank of America (BAC), Goldman Sachs (GS), Morgan Stanley (MS), and Wells Fargo (WFC) are among banks reporting quarterly earnings, with investors expecting results to help counter tense geopolitics. ASML (ASML) and Taiwan Semiconductor Manufacturing (TSM) are among the others reporting, giving investors a fresh take on the state of the so-called AI trade.* Investors will look out for consumer and wholesale price inflation data amid the market pricing in at least one interest rate increase this year. Additionally, Federal Chair Kevin Warsh's testimony is due, alongside retail sales, Michigan consumer sentiment, and inflation expectations.* The combined probability that rates will be higher by 25 or 50 basis points from current levels by December is around 70%, according to the CME FedWatch tool. Investors will parse Warsh's testimony, which comes amid a worsening geopolitical environment and higher crude oil prices. Fed's June meeting minutes, released last week, showed "quite a divide" on the rate path given the impact of the war in Iran on inflation, a Stifel note said on Friday.* The US and Iran each asserted Monday they controlled the Strait of Hormuz after a weekend of attacks stretching across the wider Middle East, further threatening any diplomacy to end the war, the Associated Press reported early Monday.* Iran and the US are nearly at the midway point of a 60-day period that was supposed to result in a permanent end to the war, the news report said. Instead, it has devolved into a series of attacks over the strait and its future, worrying world leaders that the Iran war could fully resume, it added.* Early Monday, West Texas Intermediate crude oil futures jumped 3.4% to $73.87 a barrel.

Dow JonesNasdaq CompositeS&P 500$ASML$BAC$C$GS$JPM$MS$TSM$WFC
Equities

S&P 500 Posts Weekly Gain as Technology, Energy Rally

The Standard & Poor's 500 index rose 1.2% this week, lifted by a fresh burst of AI enthusiasm amid geopolitical jitters as Washington and Tehran resumed high-stakes negotiations.The S&P 500 ended Friday's session at 7,575.39, securing a second straight weekly advance. The gauge has gained 1% in July and is up 11% this year.AI sentiment got a boost Friday from the strong Nasdaq debut of SK Hynix (SKHYV). The South Korean chipmaker's American depositary shares jumped 13% to $168.40 after the offering of 177.9 million ADSs priced at $149 apiece.Investors were also watching developments in US-Iran diplomacy. President Donald Trump said the US will continue negotiations with Iran, while reiterating that their ceasefire is over.Technology led sector gains for the week, rising 3.4%, followed by a 3.2% advance in energy and a 2.3% increase in communication services. Consumer discretionary and financials edged higher.Hewlett Packard Enterprise (HPE) jumped 18% this week, and Arista Networks (ANET) advanced 17%, the biggest gains in tech.Baker Hughes (BKR) recorded the largest gain in the energy sector, climbing 9.1%, as the company received conditional approval from the European Commission to acquire Chart Industries (GTLS).Meta Platforms (META) shares rose 15%, leading communication services. CEO Mark Zuckerberg said the company is considering renting out some of its AI computing capacity, Bloomberg reported.Materials fell 2.2%, followed by a 1.9% loss in healthcare. Consumer staples dropped 1.3%, and industrials shed 1.1%, while utilities and real estate edged lower.International Flavors & Fragrances (IFF) shares fell 7.5%, and Albemarle (ALB) dropped 7%, the steepest weekly losses in materials.The quarterly earnings season is set to move into full swing next week. Reports are expected from JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs Group (GS), Wells Fargo (WFC), Citigroup (C) and Morgan Stanley (MS). Other large companies expected to report include Johnson & Johnson (JNJ), UnitedHealth Group (UNH), GE Aerospace (GE), Netflix (NFLX) and Abbott Laboratories (ABT).Economic data will include June retail sales, the June consumer price index, and the June producer price index.

Dow JonesNasdaq CompositeS&P 500$ALB$ANET$BKR$HPE$IFF$META$SKHYV
Asia Markets

Update: US Equity Indexes Rise as Diplomatic Engagements Between Washington, Iran Send Crude Oil Lower

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes rose amid a broad-based rally as crude oil extended declines after Washington replaced air strikes on Iran with diplomatic engagements.The Nasdaq Composite edged up 0.3% to 26,281.61, with the Dow Jones Industrial Average up 0.3% to 52,637.01 and the S&P 500 higher by 0.4% to 7,575.39 on Friday. All but one sector, healthcare, rose. Materials led the gainers.The CBOE Volatility Index, also known as the fear gauge, dropped 5.1% to 15.03.Talks between the US and Iran over a permanent peace deal are continuing, Bloomberg reported, citing an American official. The US is still committed to finding a diplomatic solution with Iran, the official told Bloomberg on Thursday. The official described the ongoing discussions as technical talks.Iran had asked to continue talks, and the US agreed, but the June ceasefire is "over," President Donald Trump said in a Truth Social post."The US has said that progress on the MoU is 'performance-based', and therefore, as long as Iran moves forward with a certain behaviour such as allowing the right of passage through the Strait of Hormuz, the US will move forward with what was promised to Iran," Al Jazeera, a Middle Eastern broadcaster, reported Friday, citing Dania Thafer, executive director at Gulf International Forum.At least 15 commercial vessels transited the Strait of Hormuz in the past 24 hours, CNN reported, citing MarineTraffic data.The front-month global benchmark North Sea Brent slipped 0.4% to $76.02 a barrel, while the US West Texas Intermediate retreated 0.7% to $71.56 a barrel, extending declines from Thursday.Most US Treasury yields rose, with the 10-year up 1.8 basis points to 4.56% and the two-year climbing 4.6 basis points to 4.21% as investors watched geopolitical developments and awaited the consumer price index data for June next week, as the June 16-17 meeting of the Federal Open Market Committee showed widespread disagreement among participants in relation to inflationary pressures.In precious metal markets, gold futures fell 0.5% to $4,119.4, and silver futures declined 1% to $60.16.In company news, SK Hynix (SKHY, SKHYV) jumped 13% after listing its American depositary receipts on Nasdaq, with trading volume exceeding 105.8 million.Shares of Meta Platforms (META) jumped almost 6%, the top gainer on the S&P 500 and the Nasdaq, after a Bloomberg report cited Chief Executive Mark Zuckerberg as saying the company is considering renting out some of its artificial intelligence compute as demand for AI infrastructure surges.Moderna (MRNA) was the worst performer on the S&P 500, down nearly 11%.

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Update: US Equities Rise, Oil Prices Ease as Trump Confirms Iran Talks
US Markets

Update: US Equities Rise, Oil Prices Ease as Trump Confirms Iran Talks

(Updates with market moves at the end of the day and weekly index changes.)US equities rose Friday, rebounding at the end of a mixed week on Wall Street, while oil prices slipped as President Donald Trump confirmed talks with Iran.The S&P 500 rose 0.4% to 7,575.4. The Dow Jones Industrial Average and the Nasdaq Composite added 0.3% each to close at 52,637 and 26,281.6, respectively. Health care was the sole laggard among sectors, while materials led gainers.The Nasdaq and the S&P 500 logged their second consecutive weekly gains, advancing 1.7% and 1.2%, respectively. The Dow edged down 0.5% from last week after a run of four weekly wins.West Texas Intermediate crude oil was down 0.7% at $71.60 per barrel in Friday late-afternoon trade, while Brent ticked down 0.3% to $76.06.US crude futures were on track for their first weekly advance following four consecutive weekly declines. Brent prices were headed for their second straight weekly rise.Trump said Friday that the US agreed to continue negotiations with Iran, although he reiterated that their ceasefire is over.Hostilities between the two countries resumed in recent days, weeks after they reached an interim agreement to end their war.Qatari negotiators travelled to Iran, seeking to de-escalate the situation in a trip that was planned in coordination with the US, CNN reported Friday, citing a diplomat with knowledge of the visit."With oil prices softening following the mid-week spike, traders appear to view the latest tensions as a challenge to the ceasefire rather than a complete breakdown," Saxo Bank said in a report Friday. "Traffic through the Strait of Hormuz remains low, with no large commodity-laden vessels seen transiting."The International Energy Agency on Friday projected a smaller decline in global oil demand in 2026 amid signs of a rebound in consumption as crude flows improve.US Treasury yields were higher, with the two-year rate up 4.6 basis points at 4.21% and the 10-year rate rising 2.2 basis points to 4.56%.In company news, SK Hynix (SKHY, SKHYV) American depositary shares surged 13% in their Nasdaq debut on Friday. The stock opened traded at $170 and rose to as high as $177. The South Korean memory semiconductor company priced its initial public offering of 177.9 million ADS at $149 apiece.Meta Platforms (META) jumped 6%, the top gainer on the S&P 500. The Facebook parent is aiming to start the production of artificial intelligence chips from September, Reuters reported Thursday, citing an internal memo.Moderna (MRNA) was the worst performer on the S&P 500, down nearly 11%.Gold slipped 0.7% to $4,110.60 per troy ounce, while silver lost 1% to $60.17 per ounce.

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Asia Markets

US Equity Indexes Mixed This Week as Investors Chase Growth After Washington Strikes Aim to Free Hormuz From Iran's Control

US equity indexes traded mixed this week as growth sectors lifted the Nasdaq Composite and S&P 500 after Washington struck Iran to keep the Strait of Hormuz out of the Islamic Republic's control.The S&P 500 closed at 7,575.39 on Friday, versus 7,483.24 a week ago. The Nasdaq Composite stood at about 26,281.61, compared with 25,832.67 a week earlier. The Dow Jones Industrial Average ended at 52,637.01, versus 52,900.07 at the end of last week.* Technology, consumer cyclicals, and communication services were among the top five sectors. Industrials, materials, and health care led the decliners.* Five Magnificent-7 stocks rose this week, led by Meta Platforms (META). SK Hynix (SKHY, SKHYV) surged following the listing of its American depositary shares on the Nasdaq.* US Central Command struck 170 Iranian military targets over two nights after Tehran attacked three commercial ships transiting the Strait. Iran attacked US military sites in Bahrain, Kuwait, and Qatar. "If Iran tries to close the Strait down, there's going to be a response [from] the American military. That's the deal," US Vice President JD Vance said.* "Iran has come through the negotiations with (arguably) a great deal," according to a Macquarie note. "We would be surprised if they overplay a good hand and test Pres. Trump's patience and restraint for minimal remaining gain."* "The question confronting traders is whether Iran is willing to return to large-scale kinetic war with the US and its allies if necessary to strengthen its claim of control over the Strait of Hormuz, something that it has apparently not been granted by way of any diplomatic negotiations so far," a separate Macquarie note said.* The US is still committed to finding a diplomatic solution with Iran, an American official told Bloomberg on Thursday. The official described the ongoing discussions with Tehran as technical talks. West Texas Intermediate crude oil futures fell on Friday to $71.62, retreating from an intra-week high.

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Japan

US Equity Markets End Higher Amid Broad Rally, US-Iran Diplomatic Progress

US equity indexes closed higher Friday amid a broad-based rally after the US and Iran displayed progress in resolving the conflict diplomatically.* Talks between the US and Iran over a permanent peace deal are continuing, Bloomberg reported, citing an American official. The US is still committed to finding a diplomatic solution with Iran, the official told Bloomberg on Thursday.* Meanwhile, President Trump said Tehran and the US agreed to continue talks, but he communicated to Iran that the ceasefire is "over," Al Jazeera reported, citing a social media post from the president.* August West Texas Intermediate crude oil fell $0.46 to settle at $71.62 per barrel, while September Brent crude, the global benchmark, was last seen down $0.22 at $76.08.* Meta Platforms (META) shares were up about 5.8%, the top gainer on the S&P 500 and the Nasdaq, after a Bloomberg report, citing CEO Mark Zuckerberg, said the company is considering renting out some of its artificial intelligence compute as demand for AI infrastructure surges.* Netflix (NFLX) is in early talks to buy film-focused social platform Letterboxd, which has been exploring a sale, Variety reported Friday, citing an earlier Puck report. Shares were down about 2.9%, among the worst performers on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$META$NFLX
Japan

Update: US Equity Indexes Rise as Diplomatic Engagements With Iran Send Crude Oil Lower

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes rose amid a broad-based rally as crude oil extended declines after Washington replaced air strikes on Iran with diplomatic engagements.The Nasdaq Composite edged up 0.3% to 26,277.4, with the Dow Jones Industrial Average up 0.3% to 52,663.4 and the S&P 500 higher by 0.4% to 7,571.1 ahead of Friday's close. All but two sectors, healthcare and energy, climbed intraday. Materials led the gainers.The CBOE Volatility Index, also known as the fear gauge, dropped 3.5% to 15.26.Talks between the US and Iran over a permanent peace deal are continuing, Bloomberg reported, citing an American official. The US is still committed to finding a diplomatic solution with Iran, the official told Bloomberg on Thursday. The official described the ongoing discussions as technical talks.A diplomat told CNN that Qatari negotiators have traveled to Iran to meet officials there. Qatari mediators are in touch with US officials, including the special envoys, Jared Kushner and Steve Witkoff, Middle Eastern broadcaster Al Jazeera reported. US Vice President JD Vance is also involved in the talks, the Al Jazeera report said.Iran had asked to continue talks, and the US had agreed, but the June ceasefire is "over," President Donald Trump said in a Truth Social post.The front-month global benchmark North Sea Brent slipped 0.2% to $76.13 a barrel, while the US West Texas Intermediate retreated 0.7% to $71.59 a barrel, extending declines from Thursday.In company news, SK Hynix (SKHY, SKHYV) jumped 13% after listing its American depositary receipts on Nasdaq, with trading volume exceeding 91 million.

Dow JonesNasdaq CompositeS&P 500$SKHY$SKHYV
Update: Equity Markets Rise Intraday as Traders Track Middle East Developments
US Markets

Update: Equity Markets Rise Intraday as Traders Track Middle East Developments

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday and oil prices dropped as traders tracked conflicting messaging around the Iran war.The S&P 500 and the Dow Jones Industrial Average were up 0.3% each at 7,565.9 and 52,635 after midday Friday. The Nasdaq Composite rose 0.2% to 26,264.7. Among sectors, materials paced the gainers, while healthcare saw the steepest decline.West Texas Intermediate crude oil was down 1.1% at $71.29 per barrel intraday, while Brent fell 0.6% to $75.83.US crude futures were on track for their first weekly advance following four consecutive weekly declines. Brent prices were headed for their second straight weekly rise.President Donald Trump said Friday that the US agreed to continue negotiations with Iran, although he reiterated that their ceasefire is over.Hostilities between the two countries resumed in recent days, weeks after they signed a memorandum of understanding to end their war.Qatari negotiators travelled to Iran, seeking to de-escalate the situation in a trip planned in coordination with the US, CNN reported Friday, citing a diplomat with knowledge of the visit."With oil prices softening following the mid-week spike, traders appear to view the latest tensions as a challenge to the ceasefire rather than a complete breakdown," Saxo Bank said in a report Friday. "Traffic through the Strait of Hormuz remains low, with no large commodity-laden vessels seen transiting."The International Energy Agency on Friday projected a smaller decline in global oil demand in 2026 amid signs of a rebound in consumption as crude flows improve.US Treasury yields were higher intraday, with the two-year rate up 4.4 basis points at 4.21% and the 10-year rate rising 2.4 basis points to 4.56%.In company news, SK Hynix (SKHY, SKHYV) American depositary shares opened trade at $170 in their debut on the Nasdaq Friday, and rose to as high as $177. The South Korean memory semiconductor company priced its initial public offering 177.9 million ADS at $149 apiece.Meta Platforms (META) jumped 5%, the top gainer on the S&P 500. The Facebook parent is aiming to start the production of artificial intelligence chips from September, Reuters reported Thursday, citing an internal memo.Gold slipped 0.6% to $4,114.60 per troy ounce, while silver lost 0.9% to $60.18 per ounce.

Dow JonesNasdaq CompositeS&P 500$META$SKHY$SKHYV
Asia Markets

Update: US Equity Indexes Rise, Crude Oil Extends Declines as Diplomatic Channels Reopen for Iran Talks

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes rose on a data-light Friday, while crude oil declined as Washington replaced air strikes on Iran with diplomatic engagements, an exercise President Donald Trump appears to have ordered as retribution for the Islamic Republic hitting maritime traffic in the Strait of Hormuz.The Nasdaq Composite edged up 0.2% to 26,266.3, with the Dow Jones Industrial Average up 0.3% to 52,622.8 and the S&P 500 higher by 0.3% to 7,566.4 after midday. All but three sectors, healthcare, energy, and real estate, advanced intraday. Materials led the gainers.The CBOE Volatility Index, also known as the fear gauge, dropped 3.6% to 15.27.Talks between the US and Iran over a permanent peace deal are continuing, Bloomberg reported, citing an American official. The US is still committed to finding a diplomatic solution with Iran, the official told Bloomberg on Thursday. The official described the ongoing discussions as technical talks.A diplomat told CNN that Qatari negotiators have traveled to Iran to meet officials there. Qatari mediators are in touch with US officials, including the special envoys, Jared Kushner and Steve Witkoff, Middle Eastern broadcaster Al Jazeera reported. US Vice President JD Vance is also involved in the talks, the Al Jazeera report said.Meanwhile, President Trump said Tehran and US agreed to continue talks, but he communicated to Iran that the ceasefire is "over," Al Jazeera reported, citing a social media post from the president.The front-month global benchmark North Sea Brent retreated 0.7% to $75.79 a barrel, while the US West Texas Intermediate dropped 1.1% to $71.27 a barrel, extending declines from Thursday.Most US Treasury yields rose, with the 10-year up 1.8 basis points to 4.56% and the two-year climbing four basis points to 4.2%.In precious metal markets, gold futures fell 0.4% to $4,124.4, and silver futures declined 0.7% to $60.34.The International Energy Agency on Friday projected a smaller decline in global oil demand in 2026 amid signs of a rebound in consumption as crude flows improve."A recovery in world oil demand is underway, with consumption set to rise from its May nadir on seasonal trends and as pent-up demand is released in line with a rebound in product supplies," the IEA said in its latest monthly oil market report. "The upswing in fuel use during the peak summer travel season is set to get an additional boost from the release of pent-up demand."In company news, SK Hynix (SKHY, SKHYV) said Friday that it has listed its American depositary receipts on Nasdaq. The company said in a regulatory filing Friday that it is offering 177.9 million American depositary shares at $149 apiece, potentially raising total proceeds of $26.51 billion.Shares of Meta Platforms (META) jumped 5%, the top gainer on the S&P 500 and the Nasdaq, after a Bloomberg report cited Chief Executive Mark Zuckerberg as saying the company is considering renting out some of its artificial intelligence compute as demand for AI infrastructure surges.

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