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Asia Markets

Update: US-Iran Peace Deal Announcement Lifts US Equity Futures Pre-Bell

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Monday as the US and Iran finally reached a long-awaited agreement to end the war, with President Donald Trump saying the Strait of Hormuz would reopen on Friday.Dow Jones Industrial Average futures were 0.9% higher, S&P 500 futures were up 1.2%, and Nasdaq futures were 2.1% higher.Iran's Supreme National Security Council had confirmed on Sunday that a memorandum of understanding had been finalized, with military operations on all fronts set to cease immediately."With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!" Trump said in a post on Truth Social.Shares of Space Exploration Technologies (SPCX), known as SpaceX, rose 5.3% in premarket activity after the company ended Friday with a market capitalization of more than $2 trillion in a record-setting initial public offering. Shares rose as much as 29% on Friday.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.9% at $83.03 per barrel and US West Texas Intermediate crude 5.6% lower at $80.16 per barrel.Investors also look forward to the Federal Reserve's rate decision, scheduled for Wednesday. Markets expect no rate moves by the central bank.The New York Federal Reserve's Empire State manufacturing index dropped to 5.7 in June from 19.6 in May, compared with expectations of a decrease to a reading of 13.5 in a survey compiled by Bloomberg.The May industrial production report, due at 9:15 am ET, is forecast to show a 0.3% gain following a 0.7% increase in the prior month. The June US housing market index, slated for 10 am ET, is expected at 37, unchanged from the prior month.In other world markets, Japan's Nikkei closed 5% higher, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 1.6% higher. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was 1.4% higher in Europe's early afternoon session.In equities, Nvidia (NVDA) shares rose 1.4% after media reports that AI startup Firebird, which is supported by Nvidia, has signed a deal worth up to $10 billion with Kazakhstan to build data centers in the Central Asian country. Amazon (AMZN) stock was up 2.1% after the company said it has completed the issuance of approximately 13.97 billion Canadian dollars ($9.99 billion) in aggregate notes across multiple maturities as part of a registered debt offering. Advanced Micro Devices (AMD) shares were up 3.8% after Citi upgraded the stock to buy from neutral and raised its price target to $575 from $460.On the losing side, ExxonMobil (XOM), Chevron (CVX), and Shell (SHEL) saw their stocks drop after oil prices plunged on the announcement of the Middle East peace agreement. ExxonMobil shares fell 3.3%, Chevron stock was down 3%, and Shell shares were down 3.9%.

Dow JonesNasdaq CompositeS&P 500$AMD$AMZN$CVX$NVDA$SHEL$SPCX$XOM
Stocks Rise Pre-Bell as US, Iran Reach Peace Deal; Investors Await Fed Policy Decision
US Markets

Stocks Rise Pre-Bell as US, Iran Reach Peace Deal; Investors Await Fed Policy Decision

The benchmark US stock measures were pointing higher before the opening bell Monday as the US and Iran reached an agreement to end their war and reopen the crucial Strait of Hormuz, while investors prepare for a major policy decision by the Federal Reserve later in the holiday-shortened week.The S&P 500 rose 1.2%, the Dow Jones Industrial Average gained 0.8% and the Nasdaq added 1.9% in premarket activity. The indexes finished Friday trading in the green.US markets will be closed on Friday for the Juneteenth National Independence Day holiday.In a social media post on Sunday, President Donald Trump said a deal with Iran is "complete" and that he authorized the immediate removal of the US naval blockade of Iranian ports. In a separate post, Trump said the Strait of Hormuz will reopen for mine removal upon the signing of the peace agreement, currently scheduled for Friday in Switzerland.West Texas Intermediate crude oil dropped 5.6% to $80.11 a barrel in the most recent premarket activity, while Brent declined 5.2% to $82.77.Trump's posts came after Pakistani Prime Minister Shehbaz Sharif announced on X that a peace deal had been reached between Washington and Tehran, with both sides agreeing to immediately end their military operations on all fronts, including Lebanon.Iran's Supreme National Security Council said a memorandum of understanding regarding the end of war negotiations with the US was "finalized," Iran's Mehr News Agency reported Monday.The Fed's monetary policy committee is scheduled to meet on Tuesday, with a decision on interest rates due on Wednesday. Markets are widely expecting the central bank to keep its key lending rate unchanged for a fourth consecutive meeting, according to the CME FedWatch tool.Treasury yields were down in premarket action, with the two- and 10-year rates retreating 4 basis points each to 4.05% and 4.45%, respectively.Last week, government data showed that annual inflation in the US accelerated to its highest level in three years in May.Monday's economic calendar has the Empire State manufacturing index for June at 8:30 am ET, followed by the industrial production report for May at 9:15 am. The housing market index for the current month is out at 10 am.SpaceX (SPCX) rose 6.1% pre-bell after the Elon Musk-led company finished its trading debut on Friday up 19%. Advanced Micro Devices (AMD) inclined 4.2%, while Nvidia (NVDA) moved 2.1% higher.Accenture (ACN), Jabil (JBL) and Kroger (KR) are scheduled to report their latest financial results later this week.Gold advanced 2.8% to $4,359 per troy ounce, while bitcoin increased 3% to $65,660.

Dow JonesNasdaq CompositeS&P 500$ACN$AMD$JBL$KR$NVDA$SPCX
Insider Trading

Advanced Micro Devices Insider Sold Shares Worth $57,585,715, According to a Recent SEC Filing

Lisa T Su, Director, Chair, President & CEO, on June 10, 2026, sold 125,000 shares in Advanced Micro Devices (AMD) for $57,585,715. Following the Form 4 filing with the SEC, Su has control over a total of 2,896,899 common shares of the company, with 2,896,899 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/2488/000000248826000107/xslF345X05/wk-form4_1781296397.xml

$AMD
Sectors

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.9% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.8%.The Philadelphia Semiconductor index climbed 2.1%.In corporate news, Space Exploration Technologies (SPCX) shares jumped past 19% as Elon Musk's rocket and satellite company debuted on the Nasdaq in what is poised to be the world's biggest initial public offering ever.Advanced Micro Devices (AMD) shares gained 4.8% after Citi upgraded the stock to buy from neutral and raised its price target to $575 from $460.Adobe's (ADBE) CFO departure and fiscal 2026 organic annual recurring revenue outlook have created more uncertainty for the company, outweighing its fiscal Q2 results, RBC Capital Markets said in a note emailed Friday. Adobe shares fell past 6%.Meta Platforms (META) said Friday that Facebook and Instagram were recovering after users reported issues accessing the social media platforms earlier in the day. Meta shares were down 0.3%.

$AMD$META$MSFT$SPCX
Wire

Advanced Micro Devices Shares Rise After Citi Upgrade

Advanced Micro Devices (AMD) shares were up over 5% in Friday trading after Citi upgraded the stock to buy from neutral and raised its price target to $575 from $460.Trading volume stood at more than 22.3 million shares, compared with a daily average of about 37.6 million.Price: $515.69, Change: $+27.24, Percent Change: +5.58%

$AMD
Research

Citi Upgrades Advanced Micro Devices to Buy From Neutral, Raises Price Target to $575 From $460

Advanced Micro Devices (AMD) has an average rating of overweight and mean price target of $492.52, 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)

$AMD
Wire

Rising Agentic AI Workloads Expected to Boost Demand for CPUs, BofA Says

The rise of agentic artificial intelligence is set to significantly accelerate demand by expanding the role of central processing units, creating opportunities for x86 vendors and ARM-based competitors, BofA Securities said in a note Thursday.The analysts said that, based on their discussions at the BofA Global Technology Conference, they have increased their 2030 estimate for the server CPU total addressable market to more than $170 billion, up from their previous estimate of $125 billion.This forecast implies nearly fivefold growth from current levels and a 37% compound annual growth rate between BofA's 2025 estimate and 2030 estimate, compared with its prior growth estimate of 29% CAGR, the analysts added.The analysts said Intel (INTC) could generate more than $6 in earnings per share by 2030, up from their previous expectation of $3 to $4, although successful execution remains critical. Nvidia (NVDA) remains their top overall semiconductor pick due to its leadership across the entire AI technology stack, including CPUs, GPUs, networking, software, and AI platforms.BofA raised Advanced Micro Devices' (AMD) price target to $560 from $500 and Arm's (ARM) price target to $335 from $245. Intel was double-upgraded to buy and assigned a $135 price target, while Qualcomm (QCOM) remains rated underperform.Price: $114.54, Change: $+7.50, Percent Change: +7.00%

$AMD$ARM$INTC$NVDA$QCOM
Asia Markets

US Equity Indexes Slide as Semiconductors Lead Technology Lower, Trump Warns of Iran Attack

US equity indexes slumped following a sell-off in mega-cap semiconductor names, and as President Donald Trump's threat to attack Iran "very hard" sent crude oil higher.The Nasdaq Composite dropped 2% to 25,169.50, with the S&P 500 down 1.6% to 7,266.99, and the Dow Jones Industrial Average lower by 1.9% to 49,918.78 on Wednesday. Industrials, technology, and materials were among the decliners, while energy and consumer staples led the gainers.In the final leg of trading, Qualcomm (QCOM), Arm (ARM), and Advanced Micro Devices (AMD) were among the 10 worst-performing stocks in a category of companies with a market capitalization of more than $200 billion each, according to data compiled by Finviz.Institutional demand for SpaceX (SPCX) shares is more than four times the amount available ahead of its initial public offering, Bloomberg reported Wednesday, citing people familiar with the matter. Banks are expected to stop taking orders after Wednesday's market close at 4 pm ET, with the IPO expected to price the following day and trading set to begin on the last day of the week, the report said.In geopolitical news, the US will resume attacks on Iran on Wednesday, President Donald Trump said, citing slow progress in talks for a deal to end the war, according to a report from CNN.Iran is taking "too long to negotiate a deal," and that "now they will have to pay the price," Trump said Wednesday. The US launched airstrikes early Wednesday against Iran after the US president blamed Tehran for the crash of an American attack helicopter, and Iran fired back at countries in the region, according to a report from the Associated Press.West Texas Intermediate crude oil futures jumped 2.5% to $90.44, and Brent crude futures advanced 2.1% to $93.36.Most US Treasury yields rose, with the 10-year up two basis points to 4.55% and the two-year higher by 1.3 basis points to 4.14%.In precious metals, gold futures slumped 4.4% to $4,094.2, and silver futures dropped 2.5% to $63.61.In economic news, the US seasonally adjusted consumer price index, a measure of inflation, rose by 0.5% in May, as expected, following a 0.6% increase in April, according to data released Wednesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, rose by 0.2%, below the consensus estimate for a 0.3% increase. Core CPI rose by 0.4% in April.In this third inflation print since the beginning of Operation Epic Fury, the data continue to show "virtually no sign" that energy inflation is filtering down into the core, outside of airfare, according to a note from Jefferies.The year-over-year rates for overall and core CPI increased to 4.2% and 2.9%, respectively, from 3.8% and 2.8% in the previous month, the BLS data showed. The headline rate was the strongest since April 2023, according to data compiled by Finviz."Some pass-through could still be on the way in the data over the Summer and Fall, but the fact that businesses have been reticent to immediately pass on [the] price increases to their customers is significant," Jefferies Chief US Economist Thomas Simons wrote in the note.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$QCOM$SPCX
Japan

Slumping Semiconductors, Trump's Threat to Iran Push US Equity Indexes Lower

US equity indexes slumped amid a sell-off in high-growth, mega-cap semiconductor names and after President Donald Trump's warning of a "very hard" attack on Iran pushed crude oil higher.The Nasdaq Composite dropped 1.8% to 25,218.5, with the S&P 500 down 1.4% to 7,280.9, and the Dow Jones Industrial Average lower by 1.7% to 50,018.4 ahead of Wednesday's close.In the final leg of trading, Qualcomm (QCOM), Arm (ARM), and Advanced Micro Devices (AMD) were among the 10 worst-performing stocks with market capitalizations exceeding $200 billion, according to data compiled by Finviz.The US will resume attacks on Iran on Wednesday, President Donald Trump said, citing slow progress in talks for a deal to end the war, according to a report from CNN.West Texas Intermediate crude oil futures jumped 2.6% to $90.47, and Brent crude futures climbed 2.3% to $93.51.In economic news, the US seasonally adjusted consumer price index, a measure of inflation, rose by 0.5% in May, as expected, following a 0.6% increase in April, according to data released Wednesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, rose by 0.2%, below the consensus estimate for a 0.3% increase. Core CPI rose by 0.4% in April.In this third month's worth of inflation data since the beginning of Operation Epic Fury, the data continue to show virtually no sign that energy inflation is filtering down into the core, outside of airfare, according to a note from Jefferies.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$QCOM
Sectors

Sector Update: Tech Stocks Rise Premarket Monday

Technology stocks were rising premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) up 2.7% and the State Street SPDR S&P Semiconductor ETF (XSD) nearly 5% higher.Marvell Technology (MRVL) is set to join the S&P 500, effective June 22, S&P Dow Jones Indices said. Shares of Marvell Technology were up more than 8% pre-bell.Advanced Micro Devices (AMD) stock was up more than 4% after the company detailed plans to invest up to 2 billion pounds ($2.7 billion) in the UK over the next five years to accelerate artificial intelligence research.ON Semiconductor (ON) shares were up more than 5% after the company launched its Elite Pairing Studio, an online design tool intended to help engineers determine combinations of silicon carbide MOSFETs and gate drivers for power electronics applications

$AMD$MRVL$ON$XLK$XSD
Asia Markets

US Equity Futures Higher Pre-Bell as Trump Tries to Keep Fragile Middle East Ceasefire Intact Amid New Israel-Iran Clashes

US equity futures were edging higher pre-bell Monday as President Donald Trump tried to hold together the fragile Middle East ceasefire after Israel and Iran exchanged attacks over the past few days.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.8%, and Nasdaq futures were 1.4% higher.In a post on Truth Social, Trump said that Israel and Iran were looking to do an "immediate" ceasefire after the two nations exchanged a series of attacks. Israeli forces on Sunday had launched strikes on Iran-backed Hezbollah forces inside Beirut, Lebanon, and Iran had retaliated with missile attacks. "The Blockade will remain in place, and in full force and effect, until a 'Final Deal' is reached," Trump said.The US imposed a blockade of Iranian ports after Iran barred transit of ships in the Strait of Hormuz.Oracle (ORCL) and Adobe (ADBE) are among the companies scheduled to release quarterly financial results within the week.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.8% at $94.74 per barrel and US West Texas Intermediate crude 1.4% higher at $91.82 per barrel.The NY Federal Reserve's June consumer inflation expectations index is scheduled to be released at 11 am ET.In other world markets, Japan's Nikkei closed 3.9% lower, Hong Kong's Hang Seng ended 1.2% lower, and China's Shanghai Composite finished 1.7% lower. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.3% lower in Europe's early afternoon session.In equities, Nvidia (NVDA) shares rose 2.4% after a Bloomberg report cited company CEO Jensen Huang as saying that a global technology stock selloff was an opportunity to purchase shares at a discount. Eli Lilly (LLY) stock was up 1.7% after the drugmaker said its experimental obesity drug retatrutide delivered significant weight loss in two clinical studies and showed "meaningful" improvements in knee osteoarthritis pain and sleep apnea. Advanced Micro Devices (AMD) stock was up 3.7% after the company said it plans to invest up to 2 billion British Pounds ($2.7 billion) in the UK over the next five years to accelerate artificial intelligence research.On the losing side, Haleon (HLN) shares dropped 1% after the company said it plans to invest about 175 million pounds ($233.1 million) to build a new oral health manufacturing facility in Madhya Pradesh and expand distribution across rural India.

Dow JonesNasdaq CompositeS&P 500$ADBE$AMD$HLN$LLY$NVDA$ORCL
Nasdaq Suffers Worst Day in More Than a Year; S&P 500 Snaps Winning Weekly Streak
US Markets

Nasdaq Suffers Worst Day in More Than a Year; S&P 500 Snaps Winning Weekly Streak

The Nasdaq Composite logged its biggest one-day decline since April 2025 as traders evaluated the official jobs report, while the S&P 500 snapped its winning weekly streak.The technology-heavy Nasdaq plunged 4.2% to 25,709.4 on Friday, the most since April 2025, according to CNBC. The S&P 500 shed 2.6% to 7,383.7, while the Dow Jones Industrial Average lost 1.4% to 50,866.8, after it closed at a record high in the previous session.Tech saw the steepest drop among sectors, shedding 5.8%, while consumer staples paced the gainers.All three major Wall Street indexes posted weekly losses, with the Nasdaq sliding 4.7% and the Dow slipping 0.3%. The S&P 500 is down 2.6% on the week, after nine straight weekly gains.Cisco Systems (CSCO) declined 6.4% on Friday, the worst performer on the Dow. Nvidia (NVDA) and IBM (IBM) followed Cisco on the index, down 6.2% and 5.6%, respectively.Qualcomm (QCOM), Advanced Micro Devices (AMD), Super Micro Computer (SMCI), and Micron Technology all tumbled more than 10% each, with Micron the worst performer on the S&P 500. Oracle (ORCL), Salesforce (CRM) and Microsoft (MSFT) also closed lower.In economic news, total nonfarm payrolls in the US rose by 172,000 in May, the Bureau of Labor Statistics said, nearly double the 88,000 increase expected in a Bloomberg-compiled survey."Overall, this was a solid employment report," TD Economics said in a report. "Not only did headline payrolls come in stronger than expected, but revisions to prior months were meaningfully higher and well above six-and-twelve-month averages, suggesting some reacceleration in hiring activity."US Treasury yields were higher, with the 10-year rate last up 6.6 basis points at 4.55%, and the two-year rate soaring 11.9 basis points to 4.17%.Markets widely expect the Federal Reserve to leave interest rates unchanged later this month, but the odds of monetary policy tightening later this year have seemingly increased."Despite the lack of consistent messaging in the labor market data, we now have a rate hike fully priced at the December (Federal Open Market Committee) meeting," James Knightley, chief international economist at ING, said in a note. "That is understandable given the Fed's hawkish pivot and the hot inflation prints of recent months."West Texas Intermediate crude oil was down 2.9% at $90.38 a barrel in Friday late-afternoon trade, while Brent fell 2% to $93.11.Major oil-producing nations belonging to the OPEC+ cartel are expected to agree to continue raising output when they meet on Sunday to decide on July's production quota, analysts told.The cartel is seen lifting July's production quota by another 188,000 barrels per day, DBS Bank's Suvro Sarkar said.Gold was last down 3.7% at $4,338.30 per troy ounce, while silver dropped 8.4% to $67.79 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$CRM$CSCO$IBM$MSFT$MU$NVDA$ORCL$QCOM$SMCI
Equities Fall, Yields Jump Intraday After Jobs Report; Tech Leads Sell-Off
US Markets

Equities Fall, Yields Jump Intraday After Jobs Report; Tech Leads Sell-Off

US benchmark equity indexes were lower intraday amid a technology sector-led sell-off, while Treasury yields jumped as markets parsed the latest official jobs report.The Nasdaq Composite was down 3.2% at 25,950.7 after midday Friday, while the S&P 500 fell 2% to 7,434.3. The Dow Jones Industrial Average shed 0.9% to 51,109, after closing at a record high in the previous session.Tech saw the steepest drop among sectors intraday Friday, down 4.7%, while consumer staples paced the gainers.IBM (IBM) shares dropped 6%, the worst performer on the Dow. Cisco Systems (CSCO) and Nvidia (NVDA) followed IBM on the index, down 5.8% and 5.6%, respectively. Several other big tech names also fell. These included Microsoft (MSFT), Oracle (ORCL), Salesforce (CRM), Qualcomm (QCOM), Micron Technology (MU), Advanced Micro Devices (AMD), and Super Micro Computer (SMCI), which tumbled 11% -- the second-worst performer on the S&P 500.In economic news, total nonfarm payrolls in the US rose by 172,000 in May, the Bureau of Labor Statistics said, nearly double the 88,000 increase expected in a Bloomberg-compiled survey."Overall, this was a solid employment report," TD Economics said in a report. "Not only did headline payrolls come in stronger than expected, but revisions to prior months were meaningfully higher and well above six-and-twelve-month averages, suggesting some reacceleration in hiring activity."US Treasury yields were higher intraday, with the 10-year rate up 7.1 basis points at 4.55%, and the two-year rate soaring 11.9 basis points to 4.17%.Markets widely expect the Federal Reserve to leave interest rates unchanged later this month, which would mark its fourth straight pause, according to the CME FedWatch tool."Most (Federal Open Market Committee) participants have said they would prefer to remove the easing bias in the FOMC statement on account of rising inflation risk, and this (jobs) report should reinforce that shift," Morgan Stanley said in a note. "We read this employment report as indicating the Fed can and will remove its easing bias in June."West Texas Intermediate crude oil was down 3.2% at $90.03 a barrel intraday, while Brent fell 2.3% to $92.82.A potential US-Iran peace deal hinges on the Trump administration agreeing to release $24 billion in frozen Iranian assets, CNN reported Friday, citing Mohsen Rezaei, military adviser to Supreme Leader Ayatollah Mojtaba Khamenei."The negotiations are at a deadlock, and (US President Donald) Trump must break this deadlock," Rezaei reportedly said. "The ball is in Trump's court."In company news, FedEx Freight (FDXF) shares jumped 7.8% intraday, the best performer on the S&P 500, as Stifel initiated the stock at hold, with a $160 price target.Gold was down 3.1% at $4,367 per troy ounce, while silver dropped 6.5% to $69.13 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$CRM$CSCO$FDXF$IBM$MSFT$MU$NVDA$ORCL$QCOM$SMCI
International

US Equity Indexes Mixed as Sliding Technology Pulls Nasdaq Composite Lower, Crude Oil Sinks

US equity indexes were mixed as technology declined amid a broad-based rally, while slumping crude oil futures helped push government bond yields lower.The Dow Jones Industrial Average jumped 1.7% to 51,561.93, and the S&P 500 climbed 0.4% to 7,584.31. The Nasdaq Composite slipped less than 0.1% to 26,830.96.All sectors but technology and consumer staples rose. Healthcare and financials were standout gainers, followed by communication services.Broadcom's (AVGO) decision not to upgrade its 2027 artificial intelligence guidance apparently disappointed investors, especially as the chip designer reported strong semiconductor demand, UBS Securities said in a client note sent Thursday.Broadcom shares fell almost 13%, among the worst performers in the S&P 500 and the Nasdaq, weighing on the so-called artificial intelligence trade in the tech sector. Shares of Micron Technology (MU), Arm (ARM), and Advanced Micro Devices (AMD) were among the worst performers in a group of companies with a market capitalization of more than $200 billion, according to data compiled by Finviz.In geopolitical news, Hezbollah on Thursday rejected the latest ceasefire agreement between Israel and the Lebanese government, demanding a complete Israeli withdrawal from Lebanon as more fighting there hampered efforts to end the Iran war, the Associated Press reported.This comes as the House on Wednesday approved a war powers resolution that would halt US military action against Iran, according to a separate Associated Press report. If the resolution were to pass in the Senate, where 50 of 100 senators have appeared to support it, President Donald Trump would be required to either withdraw troops from Iran or gain approval from Congress for the war, according to an analysis from CNN.The White House, which has signaled it believes the underlying law is unconstitutional, could try to ignore the resolution, per CNN.Meanwhile, Tehran and Washington have issued contradictory messages over the status of ceasefire discussions, CNN reported. Trump said Thursday that a deal could be reached "this weekend," while Iran's foreign minister said there's been no "significant process," the news report said.West Texas Intermediate crude oil futures slumped 3.2% to $92.99, and Brent crude futures dropped 2.7% to $95.17.US Treasury yields fell, with the 10-year down 1.6 basis points to 4.48% and the two-year lower by 3.9 basis points to 4.05%.In precious metals, gold futures climbed 0.9% to $4,505.70, and silver futures advanced 0.7% to $74.20.In US economic news, employers announced 97,006 layoffs in May, the highest for the month since 2020, up 16% from April and 3% from a year earlier, with the shift toward artificial intelligence still the leading reason for cuts, Challenger, Gray & Christmas said Thursday."On top of the headline AI story, we're seeing a sharp rise in cuts tied to acquisitions and mergers and a jump in bankruptcy-related losses, which tells me companies are restructuring aggressively as they reposition for an AI-driven economy," Andy Challenger, the firm's chief revenue officer, said in a statement. "The labor market is being reshaped by technology in real time."US initial jobless claims rose to 225,000 in the week ended May 30 from a downwardly revised 212,000 in the previous week, compared with expectations for 215,000 in a survey of analysts compiled by Bloomberg. The four-week moving average jumped by 6,500 to 214,750.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$AVGO$MU
International

US Equity Indexes Rise Amid Broad-Based Rally in Final Leg of Trading

US equity indexes rose ahead of Thursday's close as technology partially clawed back intraday declines, helping widen a broad-based rally.The Dow Jones Industrial Average jumped 1.9% to 51,634.6, and the S&P 500 climbed 0.5% to 7,593.2. The Nasdaq Composite edged up 0.1% to 26,896.7, after trading lower earlier in the session.All sectors but technology and consumer staples rose. Healthcare and financials were standout gainers, followed by communication services.Broadcom's (AVGO) decision not to upgrade its 2027 artificial intelligence guidance apparently disappointed investors, especially as the chip designer reported strong semiconductor demand, UBS Securities said in a client note sent Thursday.Broadcom shares fell more than 13%, among the worst performers in the S&P 500 and the Nasdaq, weighing on the so-called artificial intelligence trade. Shares of Micron Technology (MU), Arm (ARM), and Advanced Micro Devices (AMD) were among the worst performers in a group of companies with a market capitalization of more than $200 billion, according to data compiled by Finviz.In geopolitical news, Hezbollah on Thursday rejected the latest ceasefire agreement between Israel and the Lebanese government, demanding a complete Israeli withdrawal from Lebanon as more fighting there hampered efforts to end the Iran war, the Associated Press reported.This comes as the House on Wednesday approved a war powers resolution that would halt US military action against Iran, according to a separate Associated Press report. If the resolution were to pass in the Senate, where 50 of 100 senators have appeared to support it, US President Donald Trump would be required to either withdraw troops from Iran or gain approval from Congress for the war, according to an analysis from CNN.The White House, which has signaled it believes the underlying law is unconstitutional, could try to ignore the resolution, per CNN.West Texas Intermediate crude oil futures slumped 3% to $93.14, and Brent crude futures dropped 2.7% to $95.18.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$AVGO$MU
Broadcom Beats Second-Quarter Views as AI Revenue More Than Doubles
US Markets

Broadcom Beats Second-Quarter Views as AI Revenue More Than Doubles

Broadcom (AVGO) late Wednesday reported fiscal second-quarter results above Wall Street's estimates as the chip designer's artificial intelligence revenue more than doubled on the back of increased demand for custom accelerators and networking solutions.Adjusted earnings rose to $2.44 a share during the quarter through May 3 from $1.58 a year earlier, coming in ahead of the FactSet-polled consensus indicating $2.40. Revenue advanced 48% to $22.19 billion, above the Street's $22.13 billion view.AI semiconductor revenue soared 143% year-on-year to $10.8 billion, driven by custom accelerators and networking, Broadcom Chief Executive Hock Tan said in a statement."Broadcom achieved record revenue, operating profit and free cash flow in (the second quarter), driven by accelerating growth in AI semiconductor revenue and strong operating leverage," Tan said.The semiconductor solutions division's sales climbed 79% to $15.01 billion, while the infrastructure software segment increased 9% to $7.18 billion.For the third quarter, Broadcom anticipates total revenue growth of 84%, to about $29.4 billion, compared with the consensus estimate of $28.25 billion.AI semiconductor revenue is seen climbing more than 200% year-over-year to $16 billion in the third quarter, Tan said.Broadcom's stock fell 6.7% in after-hours trading, and had gained 38.5% this year through Wednesday close.Advanced Micro Devices (AMD), Marvell Technology (MRVL) and Nvidia (NVDA) all beat revenue estimates in the most recent quarter, fueled by an ongoing AI boom that is driving unprecedented demand for data centers.

$AMD$AVGO$MRVL$NVDA
Nvidia's GTC Taipei Announcements Offer Significant Growth Potential, Truist Says
US Markets

Nvidia's GTC Taipei Announcements Offer Significant Growth Potential, Truist Says

Nvidia's (NVDA) recent product announcements pose significant growth potential for the tech giant that marked its formal entry into the consumer PC processor market, Truist Securities said in a note emailed late Monday.Nvidia disclosed new semiconductor, system and software products at the GTC event in Taipei, Taiwan. The products included RTX Spark, a superchip for Windows laptops and desktops, and DGX Station, the AI deskside supercomputer for professionals.RTX Spark's launch would mark the tech giant's entry into the PC market.Nvidia's shares rallied 6.3% on Monday, and were up 0.4% intraday Tuesday.Nvidia's opportunity extends beyond the traditional central processing unit market where Intel (INTC) and AMD (AMD) compete today, Truist Managing Director William Stein said.Nvidia could capture significant growth in higher-cost graphics processing unit systems that "could be multiples of the client CPU market today," he wrote."We are most intrigued by the company's new DGX Station and RTX Spark computers that appear aimed at developing and running AI models locally without the need for datacenter resources," Stein wrote. "While it opens a significant (total addressable market for Nvidia), we believe the effort is more strategic, and focused on extending (its) reach into all aspects of AI model development, deployment, and processing."Truist reiterated its buy rating on Nvidia's stock with a price target of $307.Price: $225.53, Change: $+1.16, Percent Change: +0.52%

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Research

Research Alert: CFRA Maintains Strong Buy Opinion On Shares Of Advanced Micro Devices, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target to $600 from $500, on a P/E of about 35x our 2028 EPS estimate, which is above its peers but below its historical forward averages. We see AMD closing the competitive gap with NVIDIA as it launches the MI450x Series in the second half of 2026, as it prepares to shift to rack-scale solutions, which offer data center server sales upside. We are also growing more optimistic about opportunities tied to CPU server demand, as we believe the rise of agentic AI shifts CPU-to-GPU ratios from traditional 1:4 or 1:8 in training toward 1:1 or higher in production deployments. Extending lead times and emerging industry-wide CPU shortage should support higher prices, and we see potential for 50%+ x86 server CPU market share over time. AMD's shift to large-scale rack-scale systems remains the biggest opportunity for the company in the coming years. Furthermore, we are encouraged by recent customer orders (Meta and Oracle), as we see a long tail opportunity over the next three to five years.

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Sectors

Sector Update: Tech Stocks Higher Late Afternoon

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 3.8%.The Philadelphia Semiconductor index added 1.8%.In corporate news, Dell Technologies (DELL) shares surged 17% after Wells Fargo raised the company's price target to $270 from $180.Advanced Micro Devices (AMD) is working with Taiwan partners to boost production capacity as higher-than-expected demand limits the global CPU market, Reuters reported, citing AMD Chief Executive Lisa Su. AMD shares climbed 3.8%.Zoom Communications (ZM) appears poised for growth acceleration following a strong Q1, given sustained momentum in its AI products, RBC Capital Markets said in a note. Zoom shares jumped past 9%.Take-Two Interactive Software (TTWO) reported a narrower fiscal Q4 net loss as revenue increased. MoffettNathanson adjusted its price target on the company's shares to $196 from $206 while maintaining its neutral rating. Take-Two shares were down 3.9%.

$AMD$DELL$TTWO$ZM
Sectors

Sector Update: Tech

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.3% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 4.5%.The Philadelphia Semiconductor index added 2.4%.In corporate news, Advanced Micro Devices (AMD) is working with Taiwan partners to boost production capacity as higher-than-expected demand limits the global central processing unit market, Reuters reported, citing AMD Chief Executive Lisa Su. AMD shares climbed 4.7%.

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