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Asia Markets

US Equity Futures Slightly Lower Pre-Bell as Trump Rejects Iran's Response to Peace Proposal, Oil Prices Rise

US equity futures were marginally lower pre-bell Monday as President Donald Trump rejected Iran's response to the US peace proposal, sending oil prices higher amid concerns that the closure of the Strait of Hormuz would be prolonged.Dow Jones Industrial Average futures were flat, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% lower.Trump said in a post on Truth Social that he found Iran's response "totally unacceptable." Iran's response had included a demand for war reparations, an end to sanctions, full sovereignty over the Strait of Hormuz, and the release of frozen Iranian assets, the country's state media had said.Energy firm Constellation Energy (CEG) was one of the first companies to kick off earnings this week, posting higher Q1 adjusted earnings and revenue. Among the companies reporting financial results this week are Petrobras (PBR), Cisco Systems (CSCO), Alibaba Group (BABA), Applied Materials (AMAT), and Brookfield (BN).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.8% at $104.11 per barrel and US West Texas Intermediate crude 2.9% higher at $98.16 per barrel.Existing home sales report, scheduled for release at 10 am ET, is expected to show an increase of 2% for April after a decline of 3.6% in the prior month, according to estimates compiled by Bloomberg.In other world markets, Japan's Nikkei closed 0.5% lower, Hong Kong's Hang Seng ended 0.1% higher, and China's Shanghai Composite finished 1.1% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, Palantir Technologies (PLTR) stock was down 2.2% after the company's external staff and other consultants were provided unrestricted entry to identifiable medical records by the UK's National Health Service, according to a Financial Times report citing an internal briefing note.On the winning side, Intel (INTC) shares rose 5.2% after the company and Apple (AAPL) reached a preliminary agreement under which the chipmaker will make some of the chips powering Apple devices, according to a Wall Street Journal report on Friday. Barrick Mining (B) shares were up 3% after the company reported higher Q1 adjusted earnings and revenue. The mining firm also reduced its quarterly dividend and authorized a $3 billion share repurchase program. Constellation Energy (CEG) stock was up 1.3% after the company reported its Q1 financial results.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMAT$B$BABA$BN$CEG$CSCO$INTC$PBR$PLTR
Japan

US Equity Futures Largely Flat Pre-Bell as Trump Rejects Iran's Response to Peace Proposal, Oil Prices Rise

US equity futures were largely flat pre-bell Monday as President Donald Trump rejected Iran's response to the US peace proposal, sending oil prices higher amid concerns that the closure of the Strait of Hormuz would be prolonged.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were flat, and Nasdaq futures were 0.1% higher.Trump said in a post on Truth Social that he found Iran's response "totally unacceptable." Iran's response had included a demand for war reparations, an end to sanctions, full sovereignty over the Strait of Hormuz, and the release of frozen Iranian assets, the country's state media had said.Energy firm Constellation Energy (CEG) was one of the first companies to kick off earnings this week, posting higher Q1 adjusted earnings and revenue. Among the companies reporting financial results this week are Petrobras (PBR), Cisco Systems (CSCO), Alibaba Group (BABA), Applied Materials (AMAT), and Brookfield (BN).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.5% at $103.82 per barrel and US West Texas Intermediate crude 2.5% higher at $97.77 per barrel.Existing home sales report, scheduled for release at 10 am ET, is expected to show an increase of 2% for April after a decline of 3.6% in the prior month, according to estimates compiled by Bloomberg.

Dow JonesNasdaq CompositeS&P 500$AMAT$BABA$BN$CEG$CSCO$PBR
Asia Markets

US Equity Investors to Focus on Inflation Data, Geopolitics This Week as Earnings Slow

US equity investors will look out for consumer price inflation as hopes diminish for a return to Iran peace talks and as quarterly earnings trickle down.* The CPI on Tuesday and producer prices on Wednesday will reveal estimates for the Federal Reserve's preferred personal consumption expenditures, or PCE, inflation gauge on May 28, Scotiabank said in a note late Friday. Jerome Powell's term as Fed Chair is due to come to an end on Friday.* "More important is that after the initial energy shock to March inflation readings, April will start the long period of evaluating potential second round passthrough effects into core prices," the note said. "Keep a close eye on the breadth of price increases that has been on an upswing long predating the war and with further upside likely."* Other macroeconomic data due this week includes April's retail sales and existing home sales.* West Texas Intermediate crude oil futures jumped 2.3% to $97.94, and Brent crude futures climbed 2.5% to $103.82 early Monday. US Treasury yields also advanced, with the 10-year up 2.6 basis points to 4.39% and the two-year higher by 3.1 basis points to 3.92%.* Crude oil prices rose on Monday after President Donald Trump said Iran's response to its proposal for a halt to the war was "unacceptable."* "Oil price dynamics remain crucial for bond markets and should set a bearish tone at the start of the week," Commerzbank's Hauke Siemssen and Erik Liem was cited as saying in a report from The Wall Street Journal.* Quarterly earnings due this week include Cisco Systems (CSCO) and Applied Materials (AMAT). Tech earnings, especially the so-called AI trade, have helped investors offset the detrimental impact of the Iran war on oil prices and mounting concerns related to inflation, which has in turn pushed up bond yields.* President Donald Trump will visit China this week for a summit with his counterpart, Xi Jinping.

Dow JonesNasdaq CompositeS&P 500$AMAT$CSCO
Research

Seaport Global Initiates Applied Materials at Buy With $500 Price Target

Applied Materials (AMAT) has an average rating of buy and mean price target of $435.13, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$AMAT
Wire

New Street Adjusts Price Target on Applied Materials to $400 From $345, Maintains Neutral Rating

Applied Materials (AMAT) has an average rating of overweight and mean price target of $311.43, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $382.71, Change: $+1.85, Percent Change: +0.49%

$AMAT
Asia Markets

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

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

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

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

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

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

US Equity Indexes Decline Amid Sharp Sell-Off in Semiconductors, Rising Crude Oil

US equity indexes traded lower ahead of Tuesday's close as a decline in semiconductor shares crushed technology and worsening Middle East geopolitics pushed crude oil futures higher.The Nasdaq Composite dropped 0.9% to 24,675.1, and the S&P 500 slid 0.5% to 7,138.2. The Dow Jones Industrial Average slipped 0.1% to 49,124.9.Microsoft-backed (MSFT) OpenAI recently missed its own targets for new users and revenue, The Wall Street Journal reported late Monday, citing people familiar with the matter. Chief Financial Officer Sarah Friar expressed concern that OpenAI may not be able to pay for future computing contracts if sales fail to grow fast enough, the news report said, citing the people.Among companies with a market capitalization of more than $200 billion, the worst performers were largely semiconductor names, including Arm Holdings (ARM), Applied Materials (AMAT), Arista Networks (ANET), Broadcom (AVGO), and Oracle (ORCL), according to data compiled by Finviz.Meanwhile, the United Arab Emirates will leave the Organization of the Petroleum Exporting Countries and its more expanded version, OPEC+, effective May 1, the Emirates News Agency reported.This comes as Iran's latest proposal to end the war in the Middle East has left President Donald Trump unhappy with the offer, leaving the deadly conflict in a continuing state of deadlock, Reuters reported Tuesday, citing an unnamed US official.West Texas Intermediate crude oil futures jumped 3.7% to $99.96, and Brent crude futures advanced 2.7% to $111.16.

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

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks fell late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) dropping 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) slumping 4.4%.The Philadelphia Semiconductor index shed 3.3%.In corporate news, OpenAI recently missed its own targets for new users and revenue, the Wall Street Journal reported late Monday, citing people familiar with the matter. Tech bellwether Nvidia (NVDA) fell 1.2%, Broadcom (AVGO) dropped 4.2%, Advanced Micro Devices (AMD) shed 3.1%, Oracle (ORCL) lost 3.6%, and Intel (INTC) declined 1.4%.Lam Research (LRCX), Applied Materials (AMAT) and KLA (KLAC) were among the chip equipment companies believed to have received a letter last week from the US Department of Commerce ordering them to halt certain tool shipments to China's second-largest chipmaker Hua Hong, Reuters reported. Lam declined 3%, Applied Materials dropped 5.1%, and KLA shed 4.1%.Amazon.com (AMZN) plans to make OpenAI's artificial intelligence models available to its customers after Microsoft (MSFT) relinquished its exclusive rights to resell the ChatGPT maker's products, Bloomberg reported Tuesday, citing Amazon Web Services CEO Matt Garman in a Bloomberg Television interview. Amazon shares were down 0.6%, and Microsoft rose 0.6%.Spotify Technology (SPOT) reported stronger-than-expected Q1 profit, but its premium subscriber growth and outlook disappointed investors. The stock fell 12%.

$AMAT$AMD$AMZN$AVGO$INTC$KLAC$LRCX$MSFT$NVDA$ORCL$SPOT
Sectors

Sector Update: Tech Stocks Fall Tuesday Afternoon

Tech stocks fell Tuesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) dropping 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) slumping 4.5%.The Philadelphia Semiconductor index shed 3.7%.In corporate news, OpenAI recently missed its own targets for new users and revenue, the Wall Street Journal reported late Monday, citing people familiar with the matter. Tech bellwether Nvidia (NVDA) fell 2.2%, Broadcom (AVGO) dropped 4.7%, Advanced Micro Devices (AMD) shed 2.7%, Oracle (ORCL) lost 3.8%, and Intel (INTC) declined 1.7%.Lam Research (LRCX), Applied Materials (AMAT) and KLA (KLAC) were among the chip equipment companies believed to have received a letter last week from the US Department of Commerce ordering them to halt certain tool shipments to China's second-largest chipmaker Hua Hong, Reuters reported. Lam declined 3.5%, Applied Materials dropped 5.5%, and KLA shed 3.5%.Spotify Technology (SPOT) reported stronger-than-expected Q1 profit, but its premium subscriber growth and outlook disappointed investors. The stock fell 13%.

$AMAT$AMD$AVGO$INTC$KLAC$LRCX$NVDA$ORCL$SPOT
Wire

Market Chatter: US Orders Big Chip Equipment Firms to Halt Some Shipments to Chinese Chipmaker

Lam Research (LRCX), Applied Materials (AMAT) and KLA (KLAC) were among the chip equipment companies believed to have received a letter last week from the US Department of Commerce ordering them to halt certain tool shipments to China's second-largest chipmaker Hua Hong, Reuters reported Tuesday, citing two people familiar with the matter.US officials believe Hua Hong facilities will make China's most sophisticated chips, the report said, citing the people.The companies and the Commerce Department didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $246.85, Change: $-12.71, Percent Change: -4.90%

$AMAT$KLAC$LRCX
Wire

US Orders Big Chip Equipment Firms to Halt Some Shipments to Chinese Chipmaker, Reuters Reports

US Orders Big Chip Equipment Firms to Halt Some Shipments to Chinese Chipmaker, Reuters Reports

$AMAT$KLAC$LRCX
Asia Markets

Semiconductor Sell-Off Pushes S&P 500, Nasdaq Lower in Midday Trading

US equity indexes were mixed in Tuesday's midday trading, with the S&P 500 and the Nasdaq Composite sliding, as slumping semiconductor shares sent technology lower and worsening Middle East geopolitics lifted crude oil futures.The Nasdaq Composite dropped 1.3% to 24,564.5, and the S&P 500 slid 0.8% to 7,120.7. The Dow Jones Industrial Average, home mostly to old economy shares, climbed 0.1% to 49,190.3.Industrials and materials were among the three worst performers, while energy and consumer staples led the gainers intraday.Microsoft-backed (MSFT) OpenAI recently missed its own targets for new users and revenue, The Wall Street Journal reported late Monday, citing people familiar with the matter. Chief Financial Officer Sarah Friar expressed concern that OpenAI may not be able to pay for future computing contracts if sales fail to grow fast enough, the news report said, citing the people.Among companies with a market capitalization of more than $200 billion, the worst performers were largely semiconductor names, including Arm Holdings (ARM), Applied Materials (AMAT), Lam Research (LRCX), Arista Networks (ANET), and Advanced Micro Devices (AMD), according to data compiled by Finviz.Meanwhile, the United Arab Emirates will leave the Organization of the Petroleum Exporting Countries and its more expanded version, OPEC+, effective May 1, the Emirates News Agency reported.This comes as Iran's latest proposal to end the war in the Middle East has still not won President Donald Trump's backing, leaving the deadly conflict in a continuing state of deadlock, Reuters said in a Tuesday report, citing an unnamed US official.West Texas Intermediate crude oil futures jumped 3.6% to $99.80, and Brent crude futures advanced 2.6% to $111.08."Oil extended its rally ... amid no signs of progress toward reopening the Strait of Hormuz, where US and Iranian blockades have reduced daily transits to near zero," Saxo Bank said in a note. "Warnings over the severity of the global supply squeeze continue to intensify, with tightness in refined fuel markets already pushing diesel and jet fuel prices toward USD200 per barrel."In precious metals, gold futures dropped 2.5% to $4,575.1, and silver futures slumped 3.7% to $72.30, as higher crude oil prices raised inflation concerns. Most US Treasury yields rose, with the 10-year up 3.4 basis points to 4.37% and the two-year climbing 4.1 basis points to 3.85%.In economic news, the Conference Board's measure of consumer confidence rose to 92.8 in April from an upwardly revised 92.2 in March, compared with the 89.0 print expected in a Bloomberg-compiled survey. The poll for preliminary results was conducted from April 1 to April 22, which included the temporary two-week ceasefire in the Iran war."Consumer appraisals of current and expected business conditions declined moderately compared to last month," said Dana Peterson, Chief Economist at The Conference Board. "This was offset by modest improvements in consumers' perceptions of the labor market, both current and expected, as well as income expectations, which were slightly more optimistic in April."The Richmond Fed's monthly manufacturing index rose to 3 in April from 0 in March, above expectations for 1 in a Bloomberg-compiled poll. Other regional manufacturing data already released have suggested expansion, except for the Dallas Fed's measure.

Dow JonesNasdaq CompositeS&P 500$AMAT$AMD$ANET$ARM$LRCX$MSFT
Japan

Semiconductor Sell-Off Pushes S&P 500, Nasdaq Lower

US equity indexes were mixed in Tuesday's midday trading, with the S&P 500 and the Nasdaq Composite sliding, as slumping semiconductor shares sent technology lower, and worsening Middle East geopolitics lifted crude oil futures.The Nasdaq Composite dropped 1.3% to 24,568.2, and the S&P 500 slid 0.7% to 7,124.6. The Dow Jones Industrial Average, home mostly to old economy shares, climbed 0.2% to 49,259.3.Microsoft-backed (MSFT) OpenAI recently missed its own targets for new users and revenue, The Wall Street Journal reported late Monday, citing people familiar with the matter. Chief Financial Officer Sarah Friar expressed concern that OpenAI may not be able to pay for future computing contracts if sales fail to grow fast enough, the news report said, citing the people.Among companies with a market capitalization of more than $200 billion, the worst performers were largely semiconductor names, including Arm Holdings (ARM), Applied Materials (AMAT), Lam Research (LRCX), Arista Networks (ANET), and Advanced Micro Devices (AMD), according to data compiled by Finviz.Meanwhile, the United Arab Emirates will leave the Organization of the Petroleum Exporting Countries and its more expanded version, OPEC+, effective May 1, the Emirates News Agency reported.This comes as Iran's latest proposal to end the war in the Middle East has still not won President Donald Trump's backing, leaving the deadly conflict in a continuing state of deadlock, Reuters said in a Tuesday report, citing an unnamed US official.West Texas Intermediate crude oil futures jumped 3.6% to $99.80, and Brent crude futures advanced 2.6% to $111.08.

Dow JonesNasdaq CompositeS&P 500$AMAT$ARM$LRCXMAMD$MSFT
Wire

Morgan Stanley Adjusts Applied Materials Price Target to $432 From $420, Maintains Overweight Rating

Morgan Stanley Adjusts Applied Materials Price Target to $432 From $420, Maintains Overweight Rating

$AMAT
Wire

B. Riley Adjusts Price Target on Applied Materials to $485 From $450, Maintains Buy Rating

Applied Materials (AMAT) has an average rating of buy and mean price target of $424.67, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $398.09, Change: $-1.41, Percent Change: -0.35%

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