Wire
US Proposes AI Partnership With EU to Secure Supply Chains, Bloomberg Reports
US Proposes AI Partnership With EU to Secure Supply Chains, Bloomberg Reports
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Advanced Micro Devices, Inc.
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230 stories mentioning Advanced Micro Devices, Inc.Updated 2d ago
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International
Update: Continued Oil Price Decline, Micron Earnings Beat Drive US Equity Futures Higher
US equity futures were higher pre-bell Thursday as oil prices fell to their lowest since the start of the US-Iran war and memory chip manufacturer Micron Technology (MU) posted strong fiscal Q3 financial results and issued upbeat guidance.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.8%, and Nasdaq futures were 2.3% higher.Oil prices dropped to their lowest level since Feb. 28 as more oil tankers have started exiting the Strait of Hormuz. Around 20 million barrels of crude have passed through the waterway in the last 24 hours, Reuters cited US Energy Secretary Chris Wright as saying.Front-month global benchmark North Sea Brent crude was down 0.9% to $73.18 per barrel and US West Texas Intermediate crude was 1.1% lower at $69.55 per barrel, slipping below $70 a barrel for the first time since March 2, Reuters said.Micron Technology shares rose 18% in premarket activity after the company overnight reported a fiscal Q3 earnings and revenue beat, and issued fiscal Q4 guidance above market expectations.The May core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, gained 0.3%, matching the increase in the prior month and in line with expectations in a survey compiled by Bloomberg. Durable goods new orders fell 4.5% in May after an 8.5% gain in the prior month, compared with expectations for a 5% decrease.Initial jobless claims dropped to 215,000 in the week ended June 20 from 227,000 in the previous week, compared with expectations for a smaller decrease to 225,000. Q1 GDP growth was revised up to a 2.1% annual rate from 1.6% previously, compared with expectations for no change.Federal Reserve New York President John Williams and Chicago President Austan Goolsbee are slated to speak on Thursday.In other world markets, Japan's Nikkei closed 4.6% higher, Hong Kong's Hang Seng ended 1.4% lower, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was up 0.9%, and Germany's DAX index was 1% higher in Europe's early afternoon session.In equities, joining Micron in the technology sector rally are semiconductor firms Broadcom (AVGO), AMD (AMD), and Intel (INTC), which were up 1.9%, 1%, and 1.4%, respectively.On the losing side, Alphabet's (GOOG, GOOGL) Google shares fell 1.8% after Bloomberg reported that the company is poised to lose two leading AI researchers to Anthropic. Alibaba (BABA) stock was down 2.6% after Bloomberg reported that Anthropic has alleged that Alibaba attempted to "illicitly" access its Claude artificial intelligence model through thousands of fraudulent accounts. Trip.com (TCOM) shares were down more than 12% after the company posted lower Q1 non-GAAP earnings.
Dow JonesNasdaq CompositeS&P 500$AMD$AVGO$BABA$GOOG$GOOGL$INTC$MU$TCOM
International
Update: US Equity Futures Edge Higher Pre-Bell as Tech Stocks Rebound, Oil Prices Fall
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures edged higher pre-bell Wednesday as technology stocks rebounded after a broad sell-off in the sector, and oil prices continued to decline.S&P 500 futures were up 0.2%, Nasdaq futures were 0.4% higher, and Dow Jones Industrial Average futures were steady.Micron Technology (MU) stock was up 3.8% in premarket activity after falling 13% on Tuesday. The company is set to report its fiscal Q3 earnings after the market closes. Analysts polled by FactSet expect earnings of $20.83 per share on revenue of $35.85 billion.President Donald Trump, in a post on Truth Social, called out oil companies for not lowering gasoline pump prices amid the recent drop in crude prices and said he has instructed the US Department of Justice to look into the issue. "Gasoline prices better start going down a lot faster than what I'm seeing!" Trump said.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.8% at $74.64 per barrel and US West Texas Intermediate crude 2.9% lower at $71.07 per barrel.May new home sales, due at 10 am ET, are seen at 640,000, up from 622,000 previously, according to estimates compiled by Bloomberg.In other world markets, Japan's Nikkei closed 0.9% lower, Hong Kong's Hang Seng ended 0.3% higher, and China's Shanghai Composite finished 0.1% higher. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was 0.9% lower in Europe's early afternoon session.In equities, shares of AMD (AMD), Intel (INTC), ARM (ARM) were higher as part of a wider rebound in technology stocks. AMD shares rose 0.8%, Intel stock was up 1%, and ARM shares were 3% higher.On the losing side, BHP (BHP) stock was down 1.7% after Australian labor unions representing Port Hedland workers said that they have not yet reached an agreement with the company on wages and working conditions. FedEx (FDX) shares fell 6.1% after the company provided a calendar-year earnings outlook below analysts' consensus. Cerebras Systems (CBRS) stock was down more than 9% after the company posted a worse-than-expected Q1 net loss.
Dow JonesNasdaq CompositeS&P 500$AMD$ARM$BHP$CBRS$FDX$INTC$MU
Japan
Update: US Equity Indexes Jump Following Weekend Agreement to End Iran War
(Updates with index moves and geopolitical developments from the first paragraph.)US equity indexes rose after the US and Iran reached a framework agreement to end the war in the Middle East, setting the stage for a reopening of the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows.The Nasdaq Composite jumped 3% to 26,660.1, the S&P 500 jumped 1.9% to 7,574.4, and the Dow Jones Industrial Average advanced 1.4% to 51,921.7.Energy and consumer staples were among the decliners, while technology, communication services, and consumer discretionary led the gainers.Iran's Supreme National Security Council confirmed on Sunday that a memorandum of understanding had been reached, with military operations on all fronts set to cease immediately. No text of the MoU has been released, and the duo has offered conflicting accounts of what will follow a signing ceremony in Switzerland on Friday, CNN reported.The peace deal will end the US blockade of Iranian ports and reopen the Strait of Hormuz, according to multiple media reports. Iran's Foreign Ministry spokesman, Esmail Baghaei, said the ceasefire in Lebanon - one of Iran's preconditions for a negotiated settlement - has been observed in the memorandum of understanding, Al Jazeera reported.Crude oil futures slumped. Front-month global benchmark North Sea Brent slumped 5.5% to $80.22 per barrel, and US West Texas Intermediate sank 5.1% to $82.88 per barrel.
Dow JonesNasdaq CompositeS&P 500$AMD$AMZN$CVX$NVDA$SHEL$SPCX$XOM
Wire
Advanced Micro Devices Acquires Predictive Memory Technology Developer
Advanced Micro Devices (AMD) said Monday it acquired the developer of AI-powered predictive memory technology MEXT to expand its AI portfolio.The deal will enable the chipmaker to deliver full-stack compute services, expected to help clients accelerate time to deployment, improve performance, and lower ownership costs, according to a statement.Price: $546.55, Change: $+34.98, Percent Change: +6.84%
$AMD
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
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.
$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
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
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
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