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Applied Materials

Applied Materials

$AMAT
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Asia Markets

Update: US Equity Futures Edge Higher Pre-Bell Amid Re-Escalation of Middle East Hostilities

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Thursday as traders observed the recent rise in hostilities between the US and Iran, which threatened to derail peace talks between the two nations.Dow Jones Industrial Average futures were flat, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.9% higher.In a post on X, US Central Command said it completed a second round of strikes, hitting 90 more Iranian military targets. The US military had struck 80 Iranian targets the day before in response to Iran's attacks on three commercial ships transiting the Strait of Hormuz.President Donald Trump told reporters that Iran had reached out and "badly" wanted to make a deal to halt the escalating hostilities in the Middle East. Trump said he does not know if the two nations are returning to an all-out conflict, but added that the US would win "very quickly" if the war resumed.Traders also digested the latest round of earnings, with PepsiCo (PEP) posting higher fiscal Q2 core earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.9% at $78.71 per barrel and US West Texas Intermediate crude 0.8% higher at $74.09 per barrel.Initial jobless claims dropped to 215,000 in the week ended July 4 from 217,000 in the previous week, compared with expectations for no change in a survey compiled by Bloomberg.The existing home sales report, scheduled for release at 10 am ET, is expected to show an increase of 1.0% for June after a gain of 3.2% in the prior month.New York Federal Reserve President John Williams and Dallas Fed President Lorie Logan are slated to speak on Thursday.In other world markets, Japan's Nikkei closed 1.4% higher, Hong Kong's Hang Seng ended 0.7% lower, and China's Shanghai Composite finished 1.7% higher. Meanwhile, the UK's FTSE 100 was down 0.6%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.In equities, Costco Wholesale (COST) shares fell 1.7% after the company posted June net sales of $29.2 billion, up almost 11% from $26.4 billion a year earlier, and maintained its quarterly dividend at $1.47 a share.PepsiCo stock was down 2.5% after the company reported its fiscal Q2 financial results.Ionis Pharmaceuticals (IONS) and partner AstraZeneca (AZN) shares fell 19% and 7.8%, respectively, after they said a phase 3 trial for eplontersen in patients with transthyretin-mediated amyloid cardiomyopathy failed to meet the primary efficacy endpoint.On the winning side, Micron Technology (MU), AMD (AMD), and Intel (INTC) stocks rose as part of a broader rally in the semiconductor sector. Micron shares climbed 6.4%, AMD stock was up 4%, and Intel shares were 5.3% higher.Applied Materials (AMAT) shares rose 7.1% after a Nikkei Asia report citing CEO Gary Dickerson as saying that the company is seeing stronger long-term visibility into semiconductor equipment demand as major chipmakers share production plans extending well beyond 2027.

Dow JonesNasdaq CompositeS&P 500$AMAT$AMD$AZN$COST$INTC$IONS$MU$PEP
Sectors

Sector Update: Tech

Technology stocks were rising pre-bell Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) up 1.6% and the State Street SPDR S&P Semiconductor ETF (XSD) 3.9% higher.Applied Materials (AMAT) is seeing stronger long-term visibility into semiconductor equipment demand as major chipmakers share production plans extending well beyond 2027, Nikkei Asia reported, citing CEO Gary Dickerson. Shares of Applied Materials were up more than 8% premarket.

$AMAT
Update: Dow Snaps Record Run Amid Tech Sell-Off, Oil Price Jump
US Markets

Update: Dow Snaps Record Run Amid Tech Sell-Off, Oil Price Jump

(Updates with market moves at the end of the day.)The Dow Jones Industrial Average retreated from record high on Tuesday as technology stocks sold off, while oil prices jumped amid renewed concerns over the Middle East situation.The Dow fell 0.3% to settle at 52,925.15 after logging back-to-back closing highs in the past two sessions. The technology-heavy Nasdaq Composite fell 1.2% to 25,818.7, while the S&P 500 shed 0.5% to 7,503.9.Among sectors, industrials saw the steepest decline followed by tech, while energy led gainers.Chipmaker Intel's (INTC) shares slumped 9.7%, the worst performer on the S&P 500. Western Digital (WDC), Marvell Technology (MRVL), Sandisk (SNDK), Advanced Micro Devices (AMD), Applied Materials (AMAT), Micron Technology (MU) also saw declines."Equities are rotating out of technology after Monday's rebound, as an Asian chip selloff revived (artificial intelligence)-valuation worries and pushed (South Korea's) KOSPI down 7.5%," Saxo Bank said in a report.A global tech sell-off on Tuesday followed the release of preliminary quarterly results by Samsung Electronics, as well as a Reuters report on Chinese firm DeepSeek developing its own AI chip that could allow it to rely less on US chipmaking giant Nvidia (NVDA) and Huawei.West Texas Intermediate crude oil was up 4.9% at $71.91 per barrel in Tuesday late-afternoon trade, while Brent advanced 5.1% to $75.67.Iran attacked a Qatari LNG ship transiting near the Strait of Hormuz, the world's most important chokepoint for crude flows, according to Qatar's foreign ministry spokesperson Majed Al Ansari.The US Treasury Department revoked the waiver allowing Iran to sell its oil, CNBC reported."Iran will only reap benefits if they exhibit good behavior," CNBC quoted a US official as saying. "Iran's actions in the Strait were wholly unacceptable to the United States and will be met with consequences."US Treasury yields were higher, with the 10-year rate up 6.6 basis points at 4.55% and the two-year rate rising 5.6 basis points to 4.18%.In economic news, the US trade deficit grew in May to its widest since March 2025, as imports increased and exports fell, government data showed."Surging imports and a rare decline in exports spiked the US trade deficit to its highest level in more than a year," BMO Capital Markets said in a note. "Despite tariffs, the trade deficit has returned to levels of late 2024, before importers began front-loading purchases, suggesting little overall progress in shrinking the trade gap."In company news, SpaceX (SPCX) drew bullish views from Wall Street as the rocket and satellite company joined the Nasdaq 100 index, with analysts pointing to AI, satellite connectivity and space-enabled solutions as key growth drivers.Deutsche Bank, RBC Capital Markets and Morgan Stanley initiated coverage of SpaceX with their highest ratings.SpaceX shares slumped 6.8%.Gold fell 1.1% to $4,122.80 per troy ounce, while silver lost 2.9% to $60.52 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMAT$AMD$INTC$MRVL$MU$NVDA$SPCX$WDC
Update: Chip Stocks Weigh on Equities Intraday; Oil Rises on Hormuz Tensions
US Markets

Update: Chip Stocks Weigh on Equities Intraday; Oil Rises on Hormuz Tensions

(Updates with latest market prices and developments.)US benchmark equity indexes were lower intraday, with chip stocks among notable laggards, while oil prices jumped following reports that Iran hit a Qatari liquefied natural gas tanker near the Strait of Hormuz.The Nasdaq Composite was down 0.7% at 25,946.1 after midday Tuesday, while the S&P 500 shed 0.3% to 7,516.6. The Dow Jones Industrial Average dropped 0.3% to 52,913.7 after having hit a new high in the previous session.Among sectors, industrials saw the steepest decline intraday Tuesday, while energy and real estate paced the gainers.Chipmaker Intel's (INTC) shares were down 9.3%, the second-worst performer on the S&P 500. Western Digital (WDC), Applied Materials (AMAT), Marvell Technology (MRVL), Micron Technology (MU), and Advanced Micro Devices (AMD) also saw sharp declines."Equities are rotating out of technology after Monday's rebound, as an Asian chip selloff revived (artificial intelligence)-valuation worries and pushed (South Korea's) KOSPI down 7.5%," Saxo Bank said in a report.A global tech sell-off on Tuesday followed the release of preliminary quarterly results by Samsung Electronics, as well as a Reuters report on Chinese firm DeepSeek developing its own AI chip that could allow it to rely less on US chipmaking giant Nvidia (NVDA) and Huawei.West Texas Intermediate crude oil was up 2.9% at $70.50 per barrel intraday, while Brent advanced 3.1% to $74.22.Iran attacked a Qatari LNG ship transiting near the Strait of Hormuz, the world's most important chokepoint for crude flows, according to Qatar's foreign ministry spokesperson Majed Al Ansari."We demand that the Islamic Republic of Iran immediately cease all practices that undermine regional security or threaten the safety of international maritime navigation, (and) refrain from endangering global energy supplies (and) the resources of the countries of the region in pursuit of narrow interests," Al Ansari said in a social media post Tuesday.US Treasury yields were higher intraday, with the 10-year rate up 4.2 basis points at 4.52% and the two-year rate rising 2.7 basis points to 4.15%.In economic news, the US trade deficit grew in May to its widest since March 2025, as imports increased and exports fell, government data showed."Surging imports and a rare decline in exports spiked the US trade deficit to its highest level in more than a year," BMO Capital Markets said in a note. "Despite tariffs, the trade deficit has returned to levels of late 2024, before importers began front-loading purchases, suggesting little overall progress in shrinking the trade gap."In company news, SpaceX (SPCX) drew bullish views from Wall Street as the rocket and satellite company joined the Nasdaq 100 index, with analysts pointing to AI, satellite connectivity and space-enabled solutions as key growth drivers.Deutsche Bank, RBC Capital Markets and Morgan Stanley initiated coverage of SpaceX with their highest ratings.The stock was down 5.2% intraday.Gold fell 0.2% to $4,157.30 per troy ounce, while silver lost 1.4% to $61.46 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMAT$AMD$INTC$MRVL$MU$NVDA$SPCX$WDC
Insider Trading

Applied Materials Insider Sold Shares Worth $55,550,320, According to a Recent SEC Filing

Gary E Dickerson, Director, President, and CEO, on June 29, 2026, sold 78,321 shares in Applied Materials (AMAT) for $55,550,320. Following the Form 4 filing with the SEC, Dickerson has control over a total of 1,599,843 common shares of the company, with 1,599,843 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/6951/000162828026046609/xslF345X05/wk-form4_1782940748.xml

$AMAT
Wire

Susquehanna Adjusts Applied Materials Price Target to $900 From $575, Maintains Positive Rating

Applied Materials (AMAT) has an average rating of buy and mean price target of $577.78, according to analysts polled by FactSet.Price: $685.06, Change: $+58.22, Percent Change: +9.29%

$AMAT
Insider Trading

Applied Materials Insider Sold Shares Worth $6,335,300, According to a Recent SEC Filing

Prabu G. Raja, President, Semiconductor Products Group, on June 18, 2026, sold 10,000 shares in Applied Materials (AMAT) for $6,335,300. Following the Form 4 filing with the SEC, Raja has control over a total of 447,305 common shares of the company, with 100,663 shares held directly and 346,642 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/6951/000162828026044741/xslF345X05/wk-form4_1782164283.xml

$AMAT
Wire

New Street Research Adjusts Applied Materials Price Target to $580 From $450

Applied Materials (AMAT) has an average rating of overweight and mean price target of $529.82, according to analysts polled by FactSet.Price: $624.43, Change: $+31.51, Percent Change: +5.31%

$AMAT
Insider Trading

Applied Materials Insider Sold Shares Worth $5,092,984, According to a Recent SEC Filing

Timothy M Deane, Senior Vice President, Applied Global Services, on June 15, 2026, sold 8,621 shares in Applied Materials (AMAT) for $5,092,984. Following the Form 4 filing with the SEC, Deane has control over a total of 133,086 common shares of the company, with 133,086 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/6951/000162828026044039/xslF345X05/wk-form4_1781733475.xml

$AMAT
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

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
Wire

Applied Materials, EssilorLuxottica Report Partnership in Smart Glasses

Applied Materials (AMAT) and EssilorLuxottica said Tuesday they have struck a long-term joint development agreement to advance augmented reality optics platforms for smart glasses.The partnership combines EssilorLuxottica's lenses, frames and smart eyewear with Applied Materials' expertise in materials engineering and waveguide technologies, they said.Price: $581.38, Change: $-4.40, Percent Change: -0.75%

$AMAT
International

US Equity Markets End Higher After Lower-Than-Expected Core Producer Price Inflation, US-Iran Agreement Progress

US equity indexes were higher on Wednesday after core producer price inflation grew less than forecast, and President Donald Trump said the US and Iran are about to sign a peace agreement following threats of bombing Iran in the evening.* Core producer price index, which excludes the more volatile food and energy prices, increased by 0.4% in May, slower than the 0.5% gain expected in a Bloomberg-compiled poll.* President Trump said in a Truth Social Post, "Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others."* July West Texas Intermediate crude oil fell $3.76 to settle at $86.27 per barrel, while August Brent crude, the global benchmark, was last seen down $4.24 at $88.86.* Applied Materials (AMAT) shares were up roughly 11%, among the top gainers on the Nasdaq and S&P 500, after the company expanded manufacturing and research & development operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand.* Oracle (ORCL) shares were down about 8.5%, the worst performer on the S&P 500, after the company said it plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale.

Dow JonesNasdaq CompositeS&P 500$AMAT$ORCL
Sectors

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.1% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 6%.The Philadelphia Semiconductor index jumped 6.9%.In corporate news, Applied Materials (AMAT) shares jumped past 10% after the company said it has expanded its manufacturing and R&D operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand.Amazon-backed (AMZN) Anthropic signed over a dozen initial agreements to lease data center facilities from US developers, and the AI company has privately discussed a plan to have Alphabet's (GOOGL) Google provide a financial guarantee for its lease payments, The Information reported. Amazon shares rose 1%, and Alphabet was fractionally lower.Oracle (ORCL) shares fell 9.2% after the company said it plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale.IBM (IBM) and ServiceNow (NOW) said Thursday they have expanded their collaboration to help enterprises modernize legacy data and accelerate the use of AI. IBM shares added 0.9%, and ServiceNow was down 2.4%.

$AMAT$AMZN$GOOGL$IBM$NOW$ORCL
Wire

Top Midday Gainers

Propanc Biopharma (PPCB) approved a share repurchase program to buy back up to $5 million of common stock, the company said Thursday.Shares soared 124% as intraday trading volume catapulted to over 155.6 million from a daily average of about 130,000.Adial Pharmaceuticals (ADIL) said Thursday it has acquired Azora Therapeutics, a biopharmaceutical company developing treatments for serious inflammatory diseases.Shares soared 30% amid a surge in intraday trading volume to over 16.5 million from a daily average of roughly 118,000.Applied Materials (AMAT) expanded manufacturing and research & development operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand.Shares jumped 8.5% following an increase in intraday trading volume to over 5.3 million from a daily average of about 7 million.Price: $3.04, Change: $+1.69, Percent Change: +124.81%

$ADIL$AMAT$PPCB
Asia Markets

Update: US Equity Indexes Advance Following Slower-Than-Expected Growth in Core Producer Price Inflation

(Updates with new information from the first paragraph.)US equity indexes rose as bets for an interest-rate increase this year were little changed after core producer price inflation grew less than forecast, helping offset the impact of President Donald Trump's threats of more attacks on Iran.The Dow Jones Industrial Average rose 0.6% to 50,237.1, followed by a 0.5% gain in the Nasdaq Composite to 25,292.3 and a 0.3% increase in the S&P 500 to 7,287.5 in midday trading on Thursday.All sectors except communication services, financials, and real estate advanced. Industrials and materials led the gainers.The core Producer Price Index, which excludes the more volatile food and energy prices, grew 0.4% in May, slower than the 0.5% gain expected in a Bloomberg-compiled poll and a 0.7% rise in April. Core PPI remained at 4.9% year-over-year but below the 5.4% consensus.Headline producer prices rose by 1.1% in May, the same as in April but above the forecast for a 0.7% gain. PPI jumped 6.5% year-over-year, the strongest pace since November 2022, from 5.7% in the previous month."This is a Fed that has been willing to tolerate above-target inflation for years, so any notion of a temporary, or bringing back a favorite word, 'transitory' impact from higher energy prices will not be enough to force the Fed's hand," Stifel Chief Economist Lindsey Piegza said in a note. "While several members have voiced a willingness to consider a higher policy target, the majority still remain optimistic [that] elevated prices will prove somewhat temporary with inflation potentially cooling later this year."The probability of a 25-basis-point increase in interest rates to a target range of 3.75% to 4% in December remained at 43% from a day ago, according to the CME FedWatch tool. The comparisons for September were 36% versus 34%, and, for October, the data showed an increase to 41% from 39%, implying modest rate-hike probabilities following the producer price inflation data.Initial jobless claims rose to 229,000 during the week ended June 6 from 225,000 in the prior week and above the 220,000 expected."It is more likely than not that this [claims data] is just seasonal noise," Jefferies Chief US Economist Thomas Simons said in a note. "Nonetheless, this data continues to be an important area to watch."Meanwhile, crude oil futures rose, with front-month global benchmark North Sea Brent up 0.8% to $93.87 per barrel and US West Texas Intermediate higher by 1.5% to $91.35 per barrel.The US will hit Iran with an attack "VERY HARD TONIGHT," and it will take control of the Kharg Island sometime in the "not too distant future," President Donald Trump said Thursday on a Truth Social post. The island is reportedly the gateway for a vast majority of Iran's crude oil exports. Iran's Foreign Ministry has condemned the recent US strikes on the country, saying that it has rendered the ceasefire "practically meaningless," the Associated Press reported Thursday.US Treasury yields traded mixed, with the 10-year down one basis point to 4.53% while the two-year rose 1.6 basis points to 4.14%.In company news, BlackRock placed a $5 billion order to buy shares of SpaceX (SPCX), The Wall Street Journal reported. The company is expected to go public on Friday.Oracle (ORCL) shares sank 12%, the worst performer on the S&P 500, after the company said it plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale. Wedbush cut its price target for Oracle's shares to $240 from $275, citing the debt raise.Applied Materials (AMAT) shares jumped 6.7%, among the top gainers on the Nasdaq, after the firm expanded manufacturing and research & development operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand.

Dow JonesNasdaq CompositeS&P 500$AMAT$ORCL$SPCX
Sectors

Sector Update: Tech Stocks Advance in Afternoon Trading

Tech stocks were higher Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing up 2.2%.The Philadelphia Semiconductor index gained 3.1%.In sector news, SpaceX has drawn over $100 billion in orders from retail investors bidding for shares in its initial public offering, Bloomberg reported.In corporate news, Applied Materials (AMAT) shares jumped past 5% after the company said it has expanded its manufacturing and R&D operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand.Oracle (ORCL) shares fell 12% after the company said it plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale.Amazon (AMZN) said Thursday its global data center footprint used 2.5 billion gallons of water in 2025, as the tech giant provided an update for its 2030 goal of returning more water to the communities where it operates than what it uses for its data centers. Amazon shares were down 0.7%.

$AMAT$AMZN$ORCL
Sectors

Sector Update: Tech

Tech stocks were higher Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 3.2%.The Philadelphia Semiconductor index gained 3.7%.In corporate news, Applied Materials (AMAT) shares jumped past 6% after the company said it has expanded its manufacturing and R&D operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand.

$AMAT
Asia Markets

Update: US Equity Futures Rise Pre-Bell After US Says Strikes Completed Against Iran

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Thursday as the US said it completed attacks against Iran after another round of "self-defense strikes."Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.7% higher.The strikes, which started after a US Army Apache helicopter was shot down on Wednesday, were conducted at the direction of President Donald Trump, US Central Command said in an X post. Iran responded with attacks on Kuwait and Bahrain, while Israel warned of launches from Lebanon.Trump later told Fox News that he had spoken directly with Iranian officials, who had asked him to stop bombing.Traders watched the latest round of earnings, with Oracle (ORCL) posting higher fiscal Q4 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.5% at $93.52 per barrel and US West Texas Intermediate crude 0.7% higher at $90.66 per barrel.The US Producer Price Index, released at 8:30 am ET, rose by 1.1% in May following a similar increase in April, above the 0.7% gain expected in a survey compiled by Bloomberg. The weekly jobless claims bulletin showed 229,000 new unemployment claims for the week ended June 6, compared with the 225,000 in the prior week and above the 220,000 expected.In other world markets, Japan's Nikkei closed 0.1% higher, Hong Kong's Hang Seng ended 0.7% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was up 0.6%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, Oracle stock was down 11% after the company said it plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale. Alibaba (BABA) and JD.com (JD) shares fell 4.5% and 2.3%, respectively, following media reports of complaints by Chinese regulators over allegedly misleading promotions.On the winning side, Tesla's (TSLA) stock was up 0.9% after Belgian government official Annick De Ridder said that the company's full self-driving technology has been approved in the country. Applied Materials (AMAT) shares rose 4.2% after the company said it has expanded its manufacturing and R&D operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand. Novartis (NVS) stock was up 2.4% after the company said the phase I/II study of its experimental therapy, del-brax, met both primary and key secondary endpoints in patients with facioscapulohumeral muscular dystrophy.

Dow JonesNasdaq CompositeS&P 500$AMAT$BABA$JD$NVS$ORCL$TSLA
Wire

Cantor Fitzgerald Lifts Applied Materials Price Target to $650 From $550, Maintains Overweight Rating

Applied Materials (AMAT) has an average rating of Buy and mean price target of $526.49, according to analysts polled by FactSet.Price: $530.88, Change: $+31.67, Percent Change: +6.34%

$AMAT

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