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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

Update: US Equity Indexes Drop, Treasury Yields Surge After Fed Removes Easing Bias

(Updates with index/price moves and macroeconomic news from the first paragraph.)US equity indexes declined while government bond yields jumped ahead of Wednesday's close after the Federal Reserve removed the so-called easing bias from its policy statement.The Nasdaq Composite fell 1.4% to 26,005.8, with the S&P 500 down 1.3% to 7,409.7 and the Dow Jones Industrial Average lower by 1% to 51,469.4.The Fed kept its benchmark interest rate unchanged in the 3.50% to 3.75% range in a unanimous decision announced on Wednesday. The latest policy statement excluded language that suggested a lingering bias toward rate cuts."Economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East," the Fed statement said. "Job gains have kept pace with the workforce, and the unemployment rate has changed little."Most US Treasury yields jumped, with the 10-year up 6.9 basis points to 4.50% and the two-year higher by 17.1 basis points to 4.22%.In his closing remarks at the G7 summit in France, French President Emmanuel Macron said that it is vital that Iran, Hezbollah, and Israel do not resume fighting, while noting that Paris supports a preliminary US-Iran deal to end the war, according to CNN.Iran will be able to export oil as soon as its agreement with the US is signed on Friday, CNN reported, while noting it has seen a draft of the memorandum of understanding. The MoU states Iran will "never produce nuclear weapons" while allowing Tehran to potentially tap into a $300 billion development fund if it meets commitments related to its nuclear program in further talks, the news agency reported.Front-month global benchmark North Sea Brent shed 0.1% to $78.86 per barrel, and US West Texas Intermediate down 0.1% to $75.96 per barrel.

Dow JonesNasdaq CompositeS&P 500
Update: Equity Markets Mixed Ahead of Fed Decision
US Markets

Update: Equity Markets Mixed Ahead of Fed Decision

(Updates with latest market prices and developments.)US benchmark equity indexes were mixed intraday ahead of the Federal Reserve's latest monetary policy decision and new central bank chair, Kevin Warsh's, press conference.The Dow Jones Industrial Average was up 0.4% at 52,202.7 after midday Wednesday, after closing at a record high in the previous session. The Nasdaq Composite and the S&P 500 were little changed at 26,367.7 and 7,511, respectively, intraday Wednesday.Among sectors, communication services saw the steepest decline, while industrials paced the gainers.The Fed is scheduled to announce its interest rate decision at 2 pm ET. Markets widely expect the central bank to keep rates unchanged for a fourth consecutive time, according to the CME FedWatch tool.Warsh, who assumed the Fed chair role last month, is expected to hold a press conference at 2:30 pm."I would expect the balance of the dots projection to remove the median participants call for a rate cut this year, but for Warsh's press conference to sound more neutral-dovish than the dots, which he'll likely boycott," Derek Holt, head of capital markets economics at Scotiabank, said in a note.West Texas Intermediate crude oil was up 0.8% at $76.68 a barrel intraday, while Brent rose 0.7% to $79.49.A draft agreement between the US and Iran includes a mechanism for Tehran to gain access to at least $300 billion in financing, as well as a commitment from the Islamic Republic that it will never produce nuclear weapons, news outlets reported.A formal signing ceremony is scheduled to take place in Switzerland Friday, which would kick off a 60-day period of further talks.US President Donald Trump said Wednesday that the proposed memorandum of understanding with Iran is "not final" and that Washington will "go right back to dropping bombs" if he doesn't like the Tehran deal, CNBC reported.The International Energy Agency lowered its global oil demand forecast for 2026 amid war-driven headwinds while projecting a rebound next year."While the US-Iran interim agreement paves the way for a rebound in Middle East (oil) exports, operational and political constraints, including prolonged demining and unresolved transit arrangements, leave downside risks to the outlook," the agency said.US Treasury yields were mixed intraday, with the two-year rate increasing 2.1 basis points to 4.07% and the 10-year rate little changed at 4.43%.In economic news, US retail sales rose more than expected in May as consumers kept spending despite higher prices, official data showed.In company news, CarMax's (KMX) fiscal first-quarter earnings fell year over year as comparable used vehicle sales swung negative. The used-vehicle retailer's shares were down 8.1% intraday.Carvana (CVNA) shares sank 7.1%, the steepest decline on the S&P 500.La-Z-Boy (LZB) shares surged nearly 20%. Late Tuesday, the furniture manufacturer reported a year-over-year gain in fiscal fourth-quarter earnings and said it expected sales to outperform the industry in the ongoing quarter.Gold was up 0.6% at $4,381.60 per troy ounce, while silver rose 0.9% to $70.64 per ounce.

Dow JonesNasdaq CompositeS&P 500$CVNA$KMX$LZB
Asia Markets

Update: US Equity Indexes Mixed Ahead of Fed Chair Warsh's Policy Views as Iran Warns Israel Over Lebanon Attacks

(Updates with index/price moves, macroeconomic data, and political/company news from the first paragraph.)US equity indexes traded mixed as investors await Federal Reserve Chair Kevin Warsh's views on monetary policy direction and inflation amid Iran's warning against continued Israeli attacks on Lebanon.The Nasdaq Composite slipped less than 0.1% to 26,379.5, and the S&P 500 edged 0.1% lower to 7,505.8 in Wednesday's midday trading. The Dow Jones Industrial Average advanced 0.2% to 52,110.3. Communication services, consumer staples, and consumer discretionary led the decliners. Industrials and materials were among the top gainers.The Federal Open Market Committee is widely expected to maintain the range for its federal funds rate at 3.50% to 3.75% for the fourth straight meeting, implying the focus will be on the updated Summary of Economic Projections and Kevin Warsh's first press conference as Fed chair on Wednesday afternoon.The rate-setting panel is likely to remove the lingering easing bias from the Fed policy statement, signaling instead an equal probability of the next policy move being a rate cut or an increase, according to a Stifel note. In the Summary of Economic Projections, policymakers will likely raise their inflation expectations amid rising energy prices and growth, with the latter reflecting a pickup in productivity via a rapid adoption of artificial intelligence, the note said.In his closing remarks at the G7 summit in France, French President Emmanuel Macron said that it is vital that Iran, Hezbollah, and Israel do not resume fighting, while noting that Paris supports a preliminary US-Iran deal to end the war, according to CNN.Iran will be able to export oil as soon as its agreement with the US is signed on Friday, CNN reported, while noting it has seen a draft of the memorandum of understanding. The MoU states Iran will "never produce nuclear weapons" while allowing Tehran to potentially tap into a $300 billion development fund if it meets commitments related to its nuclear program in further talks, the news agency reported.Meanwhile, Iran accused Israel of violating the truce in Lebanon 84 times since it reached the interim agreement with the US and warned of a "harsh response" if attacks continue, Al Jazeera reported. Israel carried out a series of strikes in southern Lebanon on Wednesday, CNN reported. The US-Iran framework agreement ends the war on all fronts, including Lebanon, the CNN report added.Front-month global benchmark North Sea Brent rose 0.7% to $79.50 per barrel, and US West Texas Intermediate climbed 0.9% to $76.72 per barrel.In economic news, retail sales climbed 0.9% after a downwardly revised 0.4% gain in April, the Census Bureau reported Wednesday. The consensus was for a 0.6% increase in May, based on a Bloomberg survey.Pending home sales rose by 3.8% in May, above the 0.9% increase expected in a survey compiled by Bloomberg and following a 0.3% increase in April, according to the National Association of Realtors. The monthly sales index was up 4.8% from a year earlier.In company news, US equity markets could see a major shift as the Securities and Exchange Commission considers allowing "tokenized stocks" under a proposed innovation exemption, Reuters reported Wednesday, citing analysts and lawyers. The move, expected under SEC Chair Paul Atkins, aims to give companies regulatory flexibility to experiment with digital asset models, it said. Robinhood (HOOD) shares jumped 12%, the top gainer on the S&P 500.Applied Materials (AMAT) stock advanced 7.5%, among the biggest gainers on the S&P 500 and the Nasdaq, after the company and EssilorLuxottica unveiled a long-term joint development agreement to advance augmented reality optics platforms for smart glasses.

Dow JonesNasdaq CompositeS&P 500$AMAT$HOOD
Asia Markets

Exchange-Traded Funds, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were mixed after midday Wednesday, with the latter trading lower. Actively traded Invesco QQQ Trust (QQQ) was up 0.3%.US equity indexes were also mixed ahead of the Federal Reserve's monetary policy announcement under newly minted Kevin Warsh, while Iran warned against Israel's continuing attacks on Lebanon.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each fell 0.5%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 1.2% and iShares US Technology ETF (IYW) rose 0.7%, while iShares Expanded Tech Sector ETF (IGM) was up 0.9%.The State Street SPDR S&P Semiconductor (XSD) increased 1.9% and iShares Semiconductor (SOXX) was 3.4% higher.FinancialThe State Street Financial Select Sector SPDR (XLF) added 0.6%. Direxion Daily Financial Bull 3X Shares (FAS) added 1.7%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), lost 1.7%.CommoditiesCrude oil rose 1%, and the United States Oil Fund (USO) fell 0.5%. Natural gas shed 2.8%, and the United States Natural Gas Fund (UNG) was 2.6% lower.Gold on Comex gained 0.7%, and the State Street SPDR Gold Shares (GLD) also rose 0.5%. Silver advanced 1.1%, and iShares Silver Trust (SLV) was up 0.6%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) was down 1.5%. The Vanguard Consumer Staples ETF (VDC) fell 1.4% and iShares Dow Jones US Consumer Goods (IYK) was down 1%.The State Street Consumer Discretionary Select Sector SPDR (XLY) declined 0.9%. VanEck Retail ETF (RTH) was 1.4% lower, and the State Street SPDR S&P Retail (XRT) dropped 0.3%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) shed 0.6%, iShares US Healthcare (IYH) decreased 0.4%, and Vanguard Health Care ETF (VHT) slipped 0.2%. IShares Biotechnology ETF (IBB) gained 2.3%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 1.1%. Vanguard Industrials Index Fund (VIS) gained 1.2%, while iShares US Industrials (IYJ) rose 1%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) was up 0.1%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 0.5%, ProShares Ether ETF (EETH) fell 1.4%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.2% higher.

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

Update: US Equity Indexes Ground Higher as Investors Await Fed's Policy Moves While Iran Serves Reminder Against Israel

(Updates with index/price moves and political/macroeconomic news from the first paragraph.)US equity indexes were moderately higher ahead of the Federal Reserve's monetary policy announcement under newly minted Kevin Warsh, while Iran warned against Israel's continuing attacks on Lebanon.The Nasdaq Composite and the S&P 500 rose 0.1% to 26,416.4 and 7,520.2, respectively, in Wednesday's midday trading. The Dow Jones Industrial Average advanced 0.4% to 52,211.5.The Federal Open Market Committee is widely expected to maintain the range for its federal funds rate at 3.50% to 3.75% for the fourth straight meeting, implying the focus will be on the updated Summary of Economic Projections and Kevin Warsh's first press conference as Fed chair on Wednesday afternoon.Meanwhile, on the geopolitical front, Iran has accused Israel of violating the truce in Lebanon 84 times since it reached the interim agreement with the US and warns of a "harsh response" if attacks continue, Al Jazeera reported.Israel carried out a series of strikes in southern Lebanon on Wednesday, with Lebanese President Joseph Aoun saying that he was in favor of a ceasefire and welcomed "any state" to help in the effort toward a truce, CNN reported. The draft text of the US-Iran framework agreement, a copy of which CNN said it has seen, ends the war on all fronts, including Lebanon.In his closing remarks at the G7 summit in France, French President Emmanuel Macron said that it is vital that Iran, Hezbollah, and Israel do not resume fighting, while noting that Paris supports a preliminary US-Iran deal to end the war, according to CNN.Front-month global benchmark North Sea Brent rose 0.9% to $79.66 per barrel, and US West Texas Intermediate climbed 1% to $76.81 per barrel after midday.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Wednesday Ahead of Fed Rates Announcement

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.7% in Wednesday's premarket activity, ahead of the highly anticipated interest rate announcement by the Federal Reserve at 2 pm ET.US stock futures were mixed, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.6% before the start of regular trading.Mortgage applications fell by 3.8% in the week ended June 12 after a 10.8% increase in the previous week, as average 30-year fixed mortgage rates held steady, according to Mortgage Bankers Association data released Wednesday.US retail sales rose by 0.9% in May, a larger gain than the 0.6% increase expected in a survey compiled by Bloomberg as of 7:35 am ET and following the previous month's revised 0.4% gain.The pending home sales data for May and the business inventories data for April are both scheduled to be released at 10:00 am ET.Weekly petroleum stocks data are due to be released at 10:30 am ET.The Federal Reserve's 2 pm ET announcement will be followed by new Fed Chair Kevin Warsh's first press conference at 2:30 pm ET.In premarket action, bitcoin was down by 1.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.2% lower, Ether ETF (EETH) retreated by 2.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was inactive.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.1%. The Vanguard Health Care Index Fund (VHT) fell 0.2% and the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.5% higher.AbCellera Biologics (ABCL) shares rose 2.4%, and Jazz Pharmaceuticals (JAZZ) stock was up 1.6% premarket after the companies signed a preclinical research collaboration, option, and license deal to discover and develop T-cell-engaging multispecific antibodies.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3%, the Vanguard Industrials Index Fund (VIS) was up 0.1%, and the iShares US Industrials ETF (IYJ) was inactive.SpaceX (SPCX) stock was up more than 3% before the opening bell, following a 4.8% rise in Tuesday's session. Investor Michael Burry, known for calling the US housing collapse and the 2008 financial crisis, wrote in his newsletter on Tuesday that the company's put options remain too expensive.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 1.3%, and the iShares US Technology ETF (IYW) was up 0.8%, while the iShares Expanded Tech Sector ETF (IGM) was up 1.9%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 1.9% higher, while the iShares Semiconductor ETF (SOXX) rose by 2.7%.Nokia (NOK) shares were up 2.6% in premarket activity after the company said it will expand its advanced semiconductor test and packaging facilities in Allentown, Pennsylvania, to increase the manufacturing of photonic chips for artificial intelligence networks.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.6%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 1%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was flat.Stellantis (STLA) shares were up 1.9% pre-bell after Bloomberg reported, citing FIM-CISL labor union secretary general Ferdinando Uliano, that the company has pledged new investments in Italy, including 5 billion euros ($5.80 billion) in research and development by 2030 and the addition of engineering jobs.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.03%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.2% higher.Aegon (AEG) shares were down 0.8% pre-bell after gaining 1.5% at the prior close. The company said it has appointed Will Fuller as chief operating officer, effective Jan. 1, 2027.EnergyThe iShares US Energy ETF (IYE) was down 0.8%, while the State Street Energy Select Sector SPDR ETF (XLE) retreated by 0.1%.YPF (YPF) stock was down 0.1% before the opening bell, adding to the 2.6% loss at the previous close. Reuters reported that the company signed a letter of intent to explore collaborations in fast-charging networks and energy storage infrastructure.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.9% to $76.73 per barrel on the New York Mercantile Exchange. Natural gas retreated by 0.7% to $3.22 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 0.4%, while the United States Natural Gas Fund (UNG) was 1.1% lower.Gold futures for July were slightly lower to $4,352.50 an ounce on the Comex. Silver futures gained 0.1% to $70.58 an ounce. SPDR Gold Shares (GLD) declined by 0.01%, and the iShares Silver Trust (SLV) was 0.3% lower.

Dow JonesNasdaq CompositeS&P 500$ABCL$AEG$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$JAZZ$NOK$PMR$QQQ$RTH$SLV$SOXX$SPCX$SPY$STLA$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD$YPF
Asia Markets

Update: US Equity Futures Edge Slightly Higher Pre-Bell Ahead of Fed Decision Under New Chair

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were slightly higher pre-bell Wednesday as traders awaited the Federal Reserve's rate decision, the first under new chairman Kevin Warsh.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.5% higher.The Fed will deliver its latest policy decision at 2 p.m., and Warsh will hold his first press conference at 2:30 p.m. Markets expect the central bank to keep interest rates unchanged at a target range of 3.5% to 3.75%.Elon Musk's Space Exploration Technologies (SPCX), known as SpaceX, continued its post-IPO rally for the third straight day after its record-setting initial public offering on Friday, gaining 2.2% in pre-market activity.President Donald Trump said at the G7 conference that the proposed US-Iran memorandum of understanding, set to be formalized in Geneva on Friday, is "not final" and warned that the US will "go right back to dropping bombs" if he doesn't like the deal.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.9% at $79.69 per barrel and US West Texas Intermediate crude 0.8% higher at $76.66 per barrel.US retail sales rose by 0.9% in May, above the expected figure of 0.6% in a survey compiled by Bloomberg and following the previous month's 0.4% gain.Pending home sales for May, scheduled for release at 10 am ET, are expected to be up 0.9% after a gain of 1.4% in the prior month. The Atlanta Fed Business Inflation Expectations survey for June is also expected at 10 am ET.In other world markets, Japan's Nikkei closed 0.7% higher, Hong Kong's Hang Seng ended 0.7% lower, and China's Shanghai Composite finished 0.4% higher. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 0.2% lower in Europe's early afternoon session.In equities, Intel (INTC) shares rose 3.7% after a CNBC report that the company has begun risk production of its most advanced chip node, 18A-P, bringing the company closer to a potential deal to manufacture chips for Apple (AAPL). Applied Materials (AMAT) stock was up 4.3% after the company and EssilorLuxottica said they have struck a long-term joint development agreement to advance augmented reality optics platforms for smart glasses. CarMax (KMX) shares were up 1.8% after the company reported fiscal Q1 net income and net sales that surpassed analysts' consensus.On the losing side, BHP (BHP) and Rio Tinto (RIO) shares were down 0.9% and 2.5%, respectively, after a Bloomberg report that the two companies see India as the next major growth engine for global steelmaking, expected to help offset slowing growth in China.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMAT$BHP$INTC$KMX$RIO$SPCX
Japan

US Equity Futures Edge Slightly Higher Ahead of Fed Decision Under New Chair Kevin Warsh

US equity futures were slightly higher pre-bell Wednesday as traders await the Federal Reserve's rate decision, the first under new chairman Kevin Warsh.Dow Jones Industrial Average futures were steady, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.4% higher.The Fed will deliver its latest policy decision at 2 p.m., and Warsh will hold his first press conference at 2:30 p.m. Markets expect the central bank to keep interest rates unchanged at a target range of 3.5% to 3.75%.Elon Musk's Space Exploration Technologies (SPCX), known as SpaceX, continued its post-IPO rally for the third straight day after its record-setting initial public offering on Friday, gaining 1.4% in pre-market activity.President Donald Trump said at the G7 conference that the proposed US-Iran memorandum of understanding, set to be formalized in Geneva on Friday, is "not final" and warned that the US will "go right back to dropping bombs" if he doesn't like the deal.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.7% at $79.52 per barrel and US West Texas Intermediate crude 0.9% higher at $76.74 per barrel.The May retail sales report, slated for 8:30 am ET, is forecast to show a 0.6% increase following a 0.5% gain in the previous month, according to estimates compiled by Bloomberg.Pending home sales for May, scheduled for release at 10 am ET, are expected to be up 0.9% after a gain of 1.4% in the prior month. The Atlanta Fed Business Inflation Expectations survey for June is also expected at 10 am ET.

Dow JonesNasdaq CompositeS&P 500$SPCX
Stocks Mostly Up Pre-Bell Ahead of Latest Fed Rate Decision
US Markets

Stocks Mostly Up Pre-Bell Ahead of Latest Fed Rate Decision

The main US stock measures were mostly pointing higher in Wednesday's premarket activity as traders await the Federal Reserve's monetary policy decision later in the day, the first under new Chair Kevin Warsh.The S&P 500 edged up 0.1% and the Nasdaq rose 0.5% before the opening bell, while the Dow Jones Industrial Average slipped 0.1%. The Dow recorded a new closing high Tuesday for the second consecutive session, while the S&P 500 and the Nasdaq finished lower.US markets will be closed on Friday for the Juneteenth National Independence Day holiday.The Fed's monetary policy committee will announce its latest decision on interest rates at 2 pm ET. Markets widely expect the central bank to keep interest rates unchanged for a fourth consecutive time, according to the CME FedWatch tool.Warsh, who assumed the Fed chair role last month, is expected to hold a press conference at 2:30 pm.The central bank's latest "dot plot" will likely show that most officials expect monetary policy to be "stagnant" for the rest of the year amid concerns over inflation, Stifel said Tuesday. "The (Federal Open Market Committee) is expected to remove the lingering easing bias from the statement, signaling instead an equal probability of the next policy move being a rate cut or a rate hike," according to Stifel.US Treasury yields were up in premarket action, with the two-year rate increasing 0.3 basis points to 4.05% and the 10-year rate adding 0.7 basis points to 4.44%.A draft memorandum of understanding between the US and Iran calls for an immediate and permanent end to hostilities, the lifting of sanctions on Tehran, and negotiations toward a final nuclear agreement, Bloomberg News reported Tuesday, citing a document it reviewed.Under the draft, the US and Iran would begin a 60-day negotiating period aimed at reaching a final agreement, according to Bloomberg. The memorandum is expected to be formally signed in Switzerland on Friday.However, analysts have flagged the possibility of implementation risks and potential disagreements."The path ahead is complex: watch for implementation disagreements, Gulf states' security demands, and Iran's continued leverage over the Strait of Hormuz," Deutsche Bank said in a note on Tuesday.President Donald Trump said Wednesday at the G7 conference that the proposed memorandum of understanding with Iran is "not final" and the US will "go right back to dropping bombs" if he doesn't like the Iran deal, CNBC reported.West Texas Intermediate crude oil increased 0.4% to $76.36 a barrel before the open, while Brent moved up 0.5% to $79.32.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am, followed by the retail sales report for May at 8:30 am. Last month's pending home sales index is out at 10 am, while the weekly EIA domestic petroleum inventories report posts at 10:30 am.Shares of SpaceX (SPCX) advanced 1.9% pre-bell after closing the previous session up 4.8%. SoFi Technologies (SOFI) rose 2% while Netflix (NFLX) nudged 0.1% lower.La-Z-Boy's (LZB) stock jumped 17% as the furniture manufacturer reported a year-over-year gain in fiscal fourth-quarter earnings and said it expects sales to outperform the industry in the ongoing quarter.Jabil (JBL) and CarMax (KMX) are scheduled to report their latest financial results before the bell.Gold slipped 0.1% to $4,348 per troy ounce, while bitcoin fell 1.1% to $64,870.

Dow JonesNasdaq CompositeS&P 500$JBL$KMX$LZB$SOFI$SPCX
International

Oil, Fed, Middle East Views Lift Wall Street Pre-Bell; Asia, Europe Up

Wall Street futures pointed moderately higher pre-bell Wednesday, as oil prices steadied well under $80 a barrel and traders awaited clarity on the pending Tehran-Washington peace agreement.In the futures, the S&P 500 rose 0.1%, the Nasdaq inclined 0.5% and the Dow Jones, having closed at an all-time zenith on Tuesday, paused near neutral.West Texas Intermediate crude oil inched up 0.5% to $76.41 a barrel, in morning hours.Investors also await the 2 pm ET rate announcement from the Federal Reserve, followed by new Fed Chair Kevin Warsh's first press conference at 2:30 pm.While the market expects no rate change from the central bank, Warsh's commentary will be watched closely for clues to possible future stances.In addition, the Fed will release its updated projections for the economy, along with its "dot plot" interest rate forecasts.The national retail sales figures for May will post at 8:30 am ET in Washington, providing a window into consumer behavior in the face of higher energy bills.Asian exchanges traded mostly higher overnight, with Tokyo's Nikkei 225 striking a fresh all-time high. European bourses tracked moderately north midday on the continent.On the economic calendar, in addition to the Fed rate announcement and the retail sales release, the business inventories report for April, the pending homes sales index for May, and the Atlanta Fed Business Inflation Expectations report for June post at 10 am.The weekly EIA petroleum status report logs at 10:30 am.In premarket action, Bitcoin traded at $64,899, and 10-year US Treasuries offered 4.43%. Spot gold commanded $4,328 an ounce.

Dow JonesNasdaq CompositeS&P 500
Update: Dow Logs Back-to-Back Record High in Mixed Session Ahead of Fed Decision
US Markets

Update: Dow Logs Back-to-Back Record High in Mixed Session Ahead of Fed Decision

(Updates with market moves at the end of the day.)The Dow Jones Industrial Average hit a fresh record high on Tuesday despite a sell-off in the technology sector, as the Federal Reserve kicked off its two-day monetary policy meeting.The Dow rose 0.6% to 51,999.7, notching a new closing high for a second straight day. The Nasdaq Composite fell 1.2% to 26,376.3, while the S&P 500 shed 0.6% to 7,511.4, the first decline in the past four sessions.Among sectors, financials paced the gainers, while tech saw the biggest drop.Among tech majors, Nvidia (NVDA) shares fell 2.4%, the biggest drop on the Dow, followed by Salesforce (CRM) and Microsoft (MSFT), respectively. On the S&P 500, Intel (INTC) was among the worst performers, down 8.5%.Markets widely expect the Fed to leave its benchmark lending rate unchanged Wednesday, which would mark the central bank's fourth straight pause, according to the CME FedWatch tool. The meeting is Kevin Warsh's first as Fed chair, who assumed the role last month, replacing Jerome Powell."The (Federal Open Market Committee) is expected to remove the lingering easing bias from the statement, signaling instead an equal probability of the next policy move being a rate cut or a rate hike," Stifel said in a note.The Fed is also scheduled to publish its latest Summary of Economic Projections, or SEP, document Wednesday. Stifel projects the Fed's "dot plot" to show most officials' expectations for a "stagnant" monetary policy for the rest of the year amid concerns over inflation.West Texas Intermediate crude oil was down 4.8% at $76.89 a barrel in Tuesday late-afternoon trade, while Brent dropped 4.2% to $79.66.The US and Iran recently agreed to end their war and reopen the Strait of Hormuz, which is the world's most important chokepoint for crude flows. The two sides are scheduled to sign their peace deal in Switzerland Friday, which would kick off another round of negotiations on Tehran's nuclear program as Iran seeks sanctions relief.Analysts have flagged the possibility of implementation risks and potential disagreements.Iran is demanding Israel withdraw from Lebanon, CNN reported."The path ahead is complex: watch for implementation disagreements, Gulf states' security demands, and Iran's continued leverage over the Strait of Hormuz," Deutsche Bank said in a note.US Treasury yields were lower, with the 10-year rate down 4.6 basis points at 4.44% and the two-year yield falling 2.3 basis points to 4.06%.In economic news, US housing starts plummeted to the lowest level since 2020 in May amid a steep drop in multi-family projects, government data showed."There is little indication that US home building will break to the upside anytime soon, given high mortgage rates, previous overbuilding in the South, elevated new home inventories relative to sales, and the current depressed level of builder activity in the (National Association of Home Builders) survey," BMO Capital Markets said in a note.In company news, Space Exploration Technologies (SPCX) agreed to acquire Anysphere, which operates artificial intelligence coding agent Cursor, in a deal worth about $60 billion, just days after the Elon Musk-led rocket and satellite company went public. SpaceX shares rose 4.8%, rising for the third straight day following its Friday debut.Olin (OLN) and Huntsman (HUN) agreed to merge in an all-stock deal to create a larger North American chemicals company with more than $12 billion in annual revenue. Huntsman shares slid 17%, while Olin fell 5.9%.Gold was last seen up 0.1% at $4,355.10 per troy ounce, while silver was little changed at $70.16 per ounce.

Dow JonesNasdaq CompositeS&P 500$CRM$HUN$INTC$MSFT$NVDA$OLN$SPCX
International

US Equity Markets End Mixed as Dow Hits Record High Amid Lower Crude Oil Prices, Tech Stock Sell-Off

US equity indexes were mixed on Tuesday after the Dow Jones Industrial Average hit a new all-time intraday amid sliding crude oil prices, while technology stocks witnessed a sell-off.* Iran warned that any Israeli attack on Lebanon or continued occupation of its territory from now on will constitute a violation of the interim agreement with the US, Al Jazeera reported. However, Israeli Prime Minister Benjamin Netanyahu has made clear he does not intend to withdraw from southern Lebanon, Gaza, or Syria, according to the CNN news report.* US import prices jumped 1.9% in May, ahead of the 1% increase expected in a Bloomberg-compiled survey and following a 2.0% gain in April.* Redbook US same-store sales soared 9.4% from a year earlier in the week ended June 13, after surging 9.1% in the previous week.* July West Texas Intermediate crude oil fell $3.81 to settle at $76.94 per barrel, while August Brent crude, the global benchmark, was last seen down $3.47 at $79.70.* Moderna (MRNA) shares were up about 6.3%, the second-best gainer on the S&P 500, after the company said Tuesday it is changing the corporate operating model to support short and long-term business goals.* Marvell Technology (MRVL) shares fell nearly 10%, the steepest decline on the S&P 500, a day after outgoing CFO Willem Meintjes filed to sell 211,329 shares, according to Form 144 filings with the US Securities and Exchange Commission.

Dow JonesNasdaq CompositeS&P 500$MRNA$MRVL
Japan

Update: US Equity Indexes Mixed as Details of Iran Agreement Emerge

(Updates with index/price moves and political news from the first paragraph.)US equity indexes traded mixed amid sliding crude oil prices as details of the Iran peace deal began to emerge.The tech-heavy Nasdaq Composite fell 1% to 26,409.6, with the S&P 500 down 0.5% to 7,517.5, while the Dow Jones Industrial Average rose 0.7% to 52,037.9 ahead of Tuesday's close.Technology was the standout decliner, while financials and industrials led the gainers.The US will allow Iran to immediately begin selling oil and fuel under the deal to end the war, offering Tehran an early financial incentive to wind down the conflict, people familiar with Sunday's announcement of an interim deal with Iran told The Wall Street Journal.A $300 billion private fund designed to trigger investment into Iran is outlined in the framework agreement, and more than half that sum has already been committed, a source with direct knowledge of the deal told Reuters.Iranian Foreign Minister Abbas Araghchi said Israel's continued occupation of southern Lebanon would violate the deal, according to a report from the Associated Press. "Without the withdrawal of Israeli forces from the territories they occupied during this war, the war has not fully come to an end."Crude oil futures traded at levels that are the lowest in more than three months. Front-month global benchmark North Sea Brent slumped 4.1% to $79.80 per barrel, and US West Texas Intermediate dived 4.6% to $77.03 per barrel after midday.

Dow JonesNasdaq CompositeS&P 500
Update: Equity Markets Mixed Intraday as Fed Meeting Begins
US Markets

Update: Equity Markets Mixed Intraday as Fed Meeting Begins

(Updates with latest market prices and developments.)US benchmark equity indexes were mixed intraday as the Federal Reserve's two-day monetary policy meeting got underway.The Nasdaq Composite was down 0.6% at 26,518.3 after midday Tuesday, while the S&P 500 fell 0.3% to 7,531.1. The Dow Jones Industrial Average rose 0.9% to 52,101. Most sectors were in the green, led by financials, while technology saw the biggest drop.Salesforce (CRM) shares were down 2.2%, the biggest drop on the Dow, followed by fellow tech majors Microsoft (MSFT) and Nvidia (NVDA), respectively. On the S&P 500, Intel (INTC) was among the worst performers, down 5.6%.Markets widely expect the Fed to leave its benchmark lending rate unchanged Wednesday, which would mark the central bank's fourth straight pause, according to the CME FedWatch tool. The meeting is Kevin Warsh's first as Fed chair, who assumed the role last month, replacing Jerome Powell."The (Federal Open Market Committee) is expected to remove the lingering easing bias from the statement, signaling instead an equal probability of the next policy move being a rate cut or a rate hike," Stifel said in a note. "There will also be an updated SEP, or Summary of Economic Projections, released with policymakers likely increasing both their expectations for inflation amid rising energy prices, as well as growth, reflecting a pickup in productivity amid a rapid and ongoing adoption of (artificial intelligence)."West Texas Intermediate crude oil was down 6.4% at $75.62 a barrel intraday, while Brent dropped 5.4% to $78.69.The US and Iran recently agreed to end their war and reopen the Strait of Hormuz, which is the world's most important chokepoint for crude flows. The two sides are scheduled to sign their peace deal in Switzerland Friday, which would kick off another round of negotiations on Tehran's nuclear program as Iran seeks sanctions relief.US President Donald Trump vowed to publicly release the text of the agreement "in a couple of days," CNN reported Tuesday.Analysts have flagged the possibility of implementation risks and potential disagreements."The path ahead is complex: watch for implementation disagreements, Gulf states' security demands, and Iran's continued leverage over the Strait of Hormuz," Deutsche Bank said in a note.US Treasury yields were lower intraday, with the 10-year rate down 4.9 basis points at 4.43% and the two-year yield falling 3.2 basis points to 4.05%.In economic news, US housing starts plummeted to the lowest level since 2020 in May amid a steep drop in multi-family projects, government data showed."There is little indication that US home building will break to the upside anytime soon, given high mortgage rates, previous overbuilding in the South, elevated new home inventories relative to sales, and the current depressed level of builder activity in the (National Association of Home Builders) survey," BMO Capital Markets said in a note.In company news, Space Exploration Technologies (SPCX) agreed to acquire Anysphere, which operates artificial intelligence coding agent Cursor, in a deal worth about $60 billion, just days after the Elon Musk-led rocket and satellite company went public. SpaceX shares were up 11% intraday.Olin (OLN) and Huntsman (HUN) agreed to merge in an all-stock deal to create a larger North American chemicals company with more than $12 billion in annual revenue. Huntsman shares were down 17% intraday, while Olin fell 7.1%.La-Z-Boy (LZB) is scheduled to report its latest quarterly financial results after the closing bell Tuesday, along with others.Gold was little changed at $4,351.20 per troy ounce, while silver edged down 0.4% to $69.90 per ounce.

Dow JonesNasdaq CompositeS&P 500$CRM$HUN$INTC$LZB$MSFT$NVDA$OLN$SPCX
Asia Markets

Update: US Equity Indexes Mixed as Technology Sector Retreats

(Updates with index/price moves, macroeconomic data, and political/company news from the first paragraph.)US equity indexes traded mixed as the Dow Jones Industrial Average hit a new peak intraday amid sliding crude oil prices, while technology sank to the bottom of sector charts.The tech-heavy Nasdaq Composite fell 0.6% to 26,537.1, with the S&P 500 down 0.3% to 7,534.2, while the Dow Jones Industrial Average rose 1% to 52,163.4 after midday Tuesday.All sectors except technology, energy, and communication services rose, with financials and industrials leading the gainers.Dow hit a fresh intraday record, taking out the all-time high scaled on Monday, as crude oil extended declines to the lowest level in more than three months following Sunday's announcement of an interim deal between the US and Iran to end the war in the Middle East.President Donald Trump vowed to publicly release the text of the memorandum of understanding Iran has signed with the US "in a couple of days," CNN reported Tuesday.Iran warned that any Israeli attack on Lebanon or continued occupation of its territory from now on will constitute a violation of the interim agreement with the US, Al Jazeera reported. However, Israeli Prime Minister Benjamin Netanyahu has made clear he does not intend to withdraw from southern Lebanon, Gaza, or Syria, according to the CNN news report.Front-month global benchmark North Sea Brent slumped 4.6% to $78.61 per barrel, and US West Texas Intermediate dived 5.1% to $75.66 per barrel after midday.In company news, Space Exploration Technologies (SPCX) has agreed to acquire Anysphere, which operates Cursor, an artificial intelligence-based coding agent, in a deal worth about $60 billion. Shares of SpaceX jumped 11% intraday, boosting the company's market cap above Amazon's (AMZN).Meanwhile, Yum! Brands (YUM) said it has signed agreements to sell Pizza Hut for a combined $2.7 billion through two separate transactions.In economic news, US import prices jumped 1.9% in May, ahead of the 1% increase expected in a Bloomberg-compiled survey and following a 2.0% gain in April. Excluding a 13% surge in petroleum prices, import prices were up 0.8% from 0.5%, beating the 0.5% forecast. Export prices climbed 1.3% in May, above expectations for 0.9% and following a 3.5% jump in April.The New York Federal Reserve's services index worsened to minus 10.1 in June from minus 5.8 in May. The index is the first services reading for June and suggests more widespread contraction.Redbook US same-store sales soared 9.4% from a year earlier in the week ended June 13, after surging 9.1% in the previous week. Seasonal categories such as air conditioners, fans, pool and beach equipment, swimwear, and other hot-weather apparel led the growth, according to Redbook.

Dow JonesNasdaq CompositeS&P 500$AMZN$SPCX$YUM
Asia Markets

Exchange-Traded Funds Fall, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were lower Tuesday. Actively traded Invesco QQQ Trust (QQQ) was down 1.4%.US equity indexes traded mixed, with the Dow Jones Industrial Average reaching a new peak intraday amid sliding crude oil prices, while technology sank to the bottom of sector charts.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each fell 0.5%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) dropped 1.8% and iShares US Technology ETF (IYW) declined 1.5%, while iShares Expanded Tech Sector ETF (IGM) was down 1.7%.The State Street SPDR S&P Semiconductor (XSD) and iShares Semiconductor (SOXX) each fell 3.5%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 1.5%. Direxion Daily Financial Bull 3X Shares (FAS) added 4.4%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), lost 4.4%.CommoditiesCrude oil shed 6.4%, and the United States Oil Fund (USO) fell 6.1%. Natural gas added 3%, and the United States Natural Gas Fund (UNG) was 2.6% higher.Gold on Comex gained 0.3%, and the State Street SPDR Gold Shares (GLD) also rose 0.4%. Silver advanced 0.1%, and iShares Silver Trust (SLV) was down 0.1%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) was up 0.2%. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were up 0.3% each.The State Street Consumer Discretionary Select Sector SPDR (XLY) rose 0.1%. VanEck Retail ETF (RTH) was 0.3% higher, and the State Street SPDR S&P Retail (XRT) dropped 0.1%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) gained 0.2%, iShares US Healthcare (IYH) rose 0.2%, and Vanguard Health Care ETF (VHT) moved up 0.2%. IShares Biotechnology ETF (IBB) dropped 0.2%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 1.2%. Vanguard Industrials Index Fund (VIS) gained 1.1%, while iShares US Industrials (IYJ) rose 1.3%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) was down 1.6%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) shed 1.2%, ProShares Ether ETF (EETH) fell 2.6%, 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 Mixed in Midday Trading as Technology Leads Decliners

(Updates with index/price moves and political news from the first paragraph.)US equity indexes traded mixed as the Dow Jones Industrial Average hit a new peak intraday amid sliding crude oil prices, while technology sank to the bottom of sector charts.The tech-heavy Nasdaq Composite fell 0.3% to 26,617.2, with the S&P 500 down 0.1% to 7,545.3, while the Dow Jones Industrial Average rose 0.7% to 52,024.5 in midday trading Tuesday.All sectors except technology, energy, and healthcare rose, with financials and utilities leading the gainers.Dow hit a fresh intraday record, taking out the all-time high scaled on Monday, as crude oil extended declines to the lowest level in more than three months following Sunday's announcement of an interim deal between the US and Iran to end the war in the Middle East.Front-month global benchmark North Sea Brent slumped 3.3% to $79.85 per barrel, and US West Texas Intermediate dived 3.8% to $76.96 per barrel after midday.President Donald Trump vowed to publicly release the text of the memorandum of understanding Iran has signed with the US "in a couple of days," CNN reported Tuesday.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Update: US Equity Futures Largely Flat as Dow Climbs to New Record Amid Anticipated US-Iran Peace Deal Signing

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were firm pre-bell Tuesday as the Dow Jones Industrial Average climbed to a new record amid the anticipated signing of a peace deal between the US and Iran and the reopening of the Strait of Hormuz.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were flat, and Nasdaq futures were flat.The Dow gained 468.77 points, or 0.92%, on Monday, setting fresh intraday and closing records.Vice President JD Vance told CNBC in an interview that he expects the peace agreement to keep the Strait of Hormuz open "in a toll-free way for the long term." However, shippers say transit through the area remains unclear in the meantime, according to the report.Meanwhile, Elon Musk's Space Exploration Technologies (SPCX), known as SpaceX, continued its post-IPO rally, gaining 4.5% in pre-market activity.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.1% at $79.75 per barrel and US West Texas Intermediate crude 4.5% lower at $77.11 per barrel.May housing starts fell to a 1.177 million annual rate from 1.392 million in the previous month, compared with expectations for a 1.43 million rate in a survey compiled by Bloomberg.US import prices jumped 1.9% in May, above the 1% increase expected and below the 2% gain in April. US export prices rose by 1.3% in May, above the 0.9% gain expected and below the 3.5% increase in April.In other world markets, Japan's Nikkei closed 0.1% higher, Hong Kong's Hang Seng ended 1.4% lower, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was up 0.6%, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, Micron Technology (MU) shares rose 0.9% after RBC Capital Markets said in a report that the company has room for its memory-chip upcycle to continue for another five to six quarters, supported by stronger pricing, robust generative AI demand and limited industry supply growth. Qualcomm (QCOM) stock was up 3.3% after CNBC cited CEO Cristiano Amon as saying that the company is developing more than 40 new AI device designs as it prepares for the next wave of "agent" powered consumer electronics. Seagate Technology (STX) and Western Digital (WDC) shares were up 4.2% and 6.3% , respectively, after Morgan Stanley said in a note that the companies are expected to benefit from strengthening demand for hard disk drives.On the losing side, Tesla (TSLA) stock was down 1.2% after BloombergNEF said in a note that global electric vehicle sales are expected to be slower than previously expected, especially in the US, hurt by the withdrawal of regulatory support for electrification in the country. STMicroelectronics (STM) shares fell 1.8% after the company said it launched a $1.5 billion offering of senior unsecured convertible bonds and plans to redeem its outstanding $750 million zero-coupon convertible bonds due 2027.

Dow JonesNasdaq CompositeS&P 500$MU$QCOM$SPCX$STM$STX$TSLA$WDC
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Tuesday Ahead of Fed Policy Meeting

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.04%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.2% in Tuesday's premarket activity, ahead of the Fed's monetary policy committee meeting on interest rates.A decision on interest rates is due tomorrow.US stock futures were also higher, with S&P 500 Index futures up 0.01%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures gaining 0.2% before the start of regular trading.In premarket action, bitcoin was down by 0.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.3% lower, Ether ETF (EETH) retreated by 1.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.02%.Power Play:HealthcareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%, the Vanguard Health Care Index Fund (VHT) was up 0.2%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was down 0.7%.Alvotech (ALVO) stock was down more than 6% premarket after the company priced an underwritten public offering of about 22.7 million shares at $3.75 per share, for gross proceeds of about $85 million.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.2%, while the Vanguard Industrials Index Fund (VIS) was up 0.5% and the iShares US Industrials ETF (IYJ) was inactive.SpaceX (SPCX) stock was up more than 4% before the opening bell following a 19.6% rise at the prior close. The company said it has signed an agreement to acquire Cursor in a deal with an implied equity value of $60 billion.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.5%, and the iShares US Technology ETF (IYW) was 0.6% higher, while the iShares Expanded Tech Sector ETF (IGM) was down 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 0.4%, while the iShares Semiconductor ETF (SOXX) rose by 0.5%.Qualcomm (QCOM) shares were up more than 4% in premarket activity after CEO Cristiano Amon told CNBC the company is developing more than 40 new AI device designs as it prepares for the next wave of "agent" powered consumer electronics.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 1.1%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained by 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 1.1% higher.Tesla (TSLA) shares were down nearly 1% pre-bell after closing Monday with a 1.2% gain. Global electric vehicle sales are expected to be slower than previously expected, especially in the United States, hurt by the withdrawal of regulatory support for electrification in the country, according to a Tuesday note published by BloombergNEF.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.5%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.5% lower.Fiserv (FISV) shares were up more than 1% pre-bell after the company said it has launched tender offers to buy all $750 million of 5.15% senior notes due 2027, and all $2 billion of 4.40% senior notes due 2049.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.3%.TotalEnergies (TTE) stock was up nearly 1% before market open, a day after the European Commission said it had approved a joint venture between TotalEnergies and Masdar focused on renewable energy projects in the Asia-Pacific region.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 2.9% to $78.40 per barrel on the New York Mercantile Exchange. Natural gas advanced by 0.9% to $3.18 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 3.9%, while the United States Natural Gas Fund (UNG) was 0.2% lower.Gold futures for July advanced by 0.2% to $4,360.00 an ounce on the Comex. Silver futures rose by 0.4% to $70.44 an ounce. SPDR Gold Shares (GLD) was up by 0.6%, and the iShares Silver Trust (SLV) rose by 0.7%.

Dow JonesNasdaq CompositeS&P 500$ALVO$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$FISV$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QCOM$QQQ$RTH$SLV$SOXX$SPCX$SPY$TSLA$TTE$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Japan

US Equity Futures Marginally Higher as Dow Climbs to New Record Amid Anticipated US-Iran Peace Deal Signing

US equity futures were firm pre-bell Tuesday as the Dow Jones Industrial Average climbed to a new record amid the anticipated signing of a peace deal between the US and Iran and the reopening of the Strait of Hormuz.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.3% higher.The Dow gained 468.77 points, or 0.92%, on Monday, setting fresh intraday and closing records.Vice President JD Vance told CNBC in an interview that he expects the peace agreement to keep the Strait of Hormuz open "in a toll-free way for the long term." However, shippers say transit through the area remains unclear in the meantime, according to the report.Meanwhile, Elon Musk's Space Exploration Technologies (SPCX), known as SpaceX, continued its post-IPO rally, gaining 4.2% in pre-market activity.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.8% at $80.83 per barrel and US West Texas Intermediate crude 2.9% lower at $78.41 per barrel.Housing starts for May, slated for 8:30 am ET, are expected at 1.43 million units annually, according to estimates compiled by Bloomberg. The May import price index is expected to show a 1% month-over-month increase after a 1.9% gain previously. The export price index is projected to rise 0.9%, compared with a gain of 3.3% previously.

Dow JonesNasdaq CompositeS&P 500$SPCX

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