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Asia Markets

European Equities Traded in the US as American Depositary Receipts Edge Lower Thursday

European equities traded in the US as American depositary receipts were slightly lower on Thursday morning, down 0.07% to 1,911.26 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by pharmaceutical company Novo Nordisk (NVO) and drink and brewing company Anheuser-Busch Inbev (BUD), which rose 1.9% and 0.9% respectivelyThey were followed by pharmaceutical company Novartis (NVS), which added 0.8%.The decliners from continental Europe were led by tech companies Nokia (NOK) and Ericsson (ERIC), which fell 7.8% and 1.8% respectively.They were followed by bank Santander (SAN), which shed 1.5%.From the UK and Ireland, the gainers were led by advertising and PR agency WPP (WPP) and telecom giant Vodafone (VOD), which rose 3.8% and 3% respectively. They were followed by beverage company Diageo (DEO), which added 2.5%.The decliners from the UK and Ireland were led by semiconductor company Arm (ARM) and pharmaceutical company Compass Pathways (CMPS), which lost 6.9% and 2.1% respectively.

$ARM$BUD$CMPS$DEO$ERIC$NOK$NVO$NVS$SAN$VOD$WPP
Asia Markets

European Equities Traded in the US as American Depositary Receipts Rise Thursday

European equities traded in the US as American depositary receipts were rising on Thursday morning, up 0.5% to 1,905.06 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by technology giants Nokia (NOK) and Ericsson (ERIC), which gained 6% and 4.4% respectively. They were followed by semiconductor company STMicroelectronics (STM), which climbed nearly 4%.The decliners from continental Europe were led by clinical-stage biopharmaceutical company Inventiva (IVA) and steel producer ArcelorMittal (MT), which fell 4.3% and 1.5% respectively. They were followed by software company SAP (SAP), which shed 0.7%.From the UK and Ireland, the gainers were led by semiconductor company Arm (ARM) and bank HSBC (HSBC), which climbed 12% and 2% respectively. They were followed by bank Barclays (BCS), which added 1.8%.The decliners from the UK and Ireland were led by pharmaceutical company Compass Pathways (CMPS) and budget airline Ryanair (RYAAY), which decreased 2.2% and 1.5% respectively.

$ARM$BCS$CMPS$ERIC$HSBC$IVA$MT$NOK$RYAAY$SAP$STM
Asia Markets

US Equity Investors to Watch Out for Big-Tech Performance This Week While Awaiting Nonfarm Payrolls, Warsh's Speech

US equity investors will focus this week on the performance of Big-Tech shares amid nonfarm payrolls, Federal Reserve Chair Kevin Warsh's speech, and crude oil prices.* Last week on Friday, the Nasdaq Composite closed at about 25,297.62, down from 26,517.93 a week earlier, a decline of about 4.8%. All Magnificent-7 stocks ended the week lower, hitting the Nasdaq disproportionately compared with the S&P 500 and the Dow Jones Industrial Average, according to data compiled by Finviz. The three worst-performing stocks among companies with a market capitalization above $200 billion were Arm (ARM), Western Digital (WDC), and Oracle (ORCL), the data showed.* After an inflation report last week showed the personal consumption expenditures, or PCE, price index grew at the fastest pace since April 2023 on an annual basis in May, investors will watch nonfarm payrolls to gauge the state of the labor market and its potential impact on policy under the newly minted Warsh. Other macroeconomic data likely to garner attention includes ISM manufacturing, JOLTS job openings, and initial jobless claims.* Chair Warsh is expected to deliver a speech on Wednesday, which will be parsed closely for his views on last week's inflation print. Following the Fed's monetary policy meeting in June, the CME FedWatch tool shows a 41% probability that the target rate for fed funds will be in the 3.75% to 4% range from 3.5% to 3.75%. There is 29% likelihood the Fed will raise rates twice by 25 basis points each, as Warsh seemed to lean hawkish at the press briefing following the policy announcement.* The front-month West Texas Intermediate crude oil futures stood at $69.98 early Monday, trading close to levels seen around the beginning of the attack on Iran. The US and Iran will "stand down for now," a Trump administration official said after both sides traded fire near the Strait of Hormuz, CNN reported. Technical talks with Iran remain "on track," a US official told CNN.

Dow JonesNasdaq CompositeS&P 500$ARM$ORCL$WDC
Asia Markets

European Equities Traded in the US as American Depositary Receipts Decline Friday

European equities traded in the US as American depositary receipts were lower Friday morning, decreasing 0.4% to 1,883.22 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biotech companies Evaxion (EVAX) and Abivax (ABVX), which gained 5.4% and 4.5% respectively. They were followed by healthcare firm Grifols (GRFS) and drink and brewing giant Anheuser-Busch Inbev (BUD), which added 1.4% and 1.1%, respectively.The decliners from continental Europe were led by Agomab Therapeutics (AGMB) and steel producer ArcelorMittal (MT), which fell 3.9% and 3.5% respectively. They were followed by energy company Equinor (EQNR), which was down 1.3%.From the UK and Ireland, the gainers were led by pharmaceutical company Compass Pathways (CMPS) and Autolus Therapeutics (AUTL), which rose 5.6% and 2.8% respectively.The decliners from the UK and Ireland were led by semiconductor company Arm (ARM) and Barclays (BCS), which shed 4% and 1.3% respectively.

$ABVX$AGMB$ARM$AUTL$BCS$BUD$CMPS$EQNR$EVAX$GRFS$MT
Sectors

Sector Update: Tech Stocks Advancing Pre-Bell Thursday

Technology stocks were advancing pre-bell Thursday, with the State Street Technology Select Sector SPDR ETF (XLK) gaining by 3% and the State Street SPDR S&P Semiconductor ETF (XSD) 4.7% higher.Micron Technology (MU) shares were up over 17% in recent premarket activity after the company late Wednesday reported a fiscal Q3 earnings and revenue beat, and its guidance for the next quarter also came in above market expectations.ARM (ARM) shares were up more than 6% before the bell after Nikkei Asia reported, citing a senior executive, that the company's chip architecture now accounts for more than half of the hyperscale cloud-computing market.IBM (IBM) stock gained more than 2% pre-bell after the company said it has created what it calls the "world's first sub-1 nanometer chip technology."

$ARM$IBM$MU$XLK$XSD
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
Asia Markets

Update: US Equity Indexes Decline Amid Hard Sell-Off in Chipmakers

(Updates with index/price moves and analysts' comments from the first paragraph.)US equity indexes slumped as profit-taking in mega-cap semiconductor names pushed the Nasdaq Composite and the S&P 500 sharply lower on Tuesday.The tech-heavy Nasdaq sank 2.2% to 25,587.04, the S&P 500 dived 1.4% to 7,365.46, and the Dow Jones Industrial Average slipped less than 0.1% to 51,666.84 at the close. Technology, industrials, and materials were the standout decliners, while consumer staples, real estate, and health care topped the gainers.In a category of stocks with a market capitalization of over $200 billion, 18 out of the 20 worst-performing stocks were technology firms. Sandisk (SNDK), Micron Technology (MU), and Arm (ARM) were the steepest decliners, sinking by at least 10% each. Within technology, semiconductors bore the brunt of investors' apathy.The sharp selling is likely profit-taking after market exuberance pushed tech stocks to record highs this year, Javier Correonero, Morningstar senior equity analyst, said in a news report published on the company's website. "There's a lot of froth in the markets."Tech stocks may face spillover impact from the selloff in South Korea, though the slide appears to be a "pullback/breather" in a market that nearly doubled this year, Wedbush Securities said in a note."We view the KOSPI sell-off as a pullback/breather on a market up almost 100% this year and also believe [SK Hynix, an affiliate of SK Telecom (SK)] overtaking Samsung was a big symbolic move that caused some investors to worry about an 'overheated' memory chip trade," Wedbush analysts, including Dan Ives, said in the note.Offering a different viewpoint on market moves, the Wells Fargo Investment Institute said in a research note that stocks often weaken before elections, referring to the US midterm polls in November. "Markets typically respond to a clearer policy outlook, so long-term investors should stay focused on fundamentals and consider adding equity exposure during election-driven pullbacks."In geopolitical news, President Donald Trump told reporters outside the White House that International Atomic Energy Agency inspectors will be heading to Iran, according to a report from Al Jazeera. In response to a journalist who said that Tehran claims that there are no scheduled IAEA visits, Trump said: "They're wrong, they know they're wrong. They told us inside, and we have it down 100 percent. If they were right, I'd cancel the meetings right now."Separately, Iran's President Masoud Pezeshkian said no negotiations will take place on the country's ballistic missiles, Al Jazeera reported.Front-month global benchmark North Sea Brent retreated 1.2% to $76.95 per barrel, and the US West Texas Intermediate slid 1% to $73.13 per barrel, with both crude oil types off session lows.In economic news, the June flash reading of manufacturing conditions from S&P Global rose to a 49-month high of 55.7 from 55.1 in May, in contrast with an expected decrease to 54.6 in a survey compiled by Bloomberg.Most US Treasury yields fell, but were off session lows. The 10-year slipped one basis point to 4.5%, and the two-year rate declined 2.7 basis points to 4.2%.In precious metals, gold futures dropped 1.8% to $4,129.00, and silver futures slumped 6.1% to $62.01.

Dow JonesNasdaq CompositeS&P 500$ARM$MU$SNDK
International

US Equity Markets End Lower as Tech Stocks Fall

US equity indexes ended lower on Tuesday after steep declines in mega-cap semiconductor and other tech stocks.* The June flash reading of manufacturing conditions from S&P Global rose to a 49-month high of 55.7 from 55.1 in May, in contrast with an expected decrease to 54.6 in a survey compiled by Bloomberg.* Redbook US same-store sales surged 10% from a year earlier in the week ended June 20 after a 9.4% year-over-year increase in the previous week.* August West Texas Intermediate crude oil fell $0.54 to settle at $73.32 per barrel, while August Brent crude, the global benchmark, was last seen down $0.82 at $77.08.* International Business Machines (IBM) shares gained 5%, the top gainer on the Dow, after the company said late Monday it joined the OpenAI Daybreak Cyber Partner Program and launched a new application-security service. Morgan Stanley raised its price target to $267 from $225, while keeping its equalweight rating.* Sandisk (SNDK) was down nearly 14%, the worst performer on the S&P 500 and Nasdaq, accompanied by Micron Technology (MU), Arm (ARM), and other major tech firms with a market cap of over $200 billion. Tech stocks may face spillover impact from the selloff in South Korea, though the slide appears to be a "pullback/breather" in a market that nearly doubled this year, Wedbush Securities said in a note.

Dow JonesNasdaq CompositeS&P 500$ARM$IBM$MU$SNDK
Japan

Update: US Equity Indexes Mixed Amid Hard Sell-Off in Chipmakers

(Updates with index/price moves, macroeconomic data, and analysts' comments from the first paragraph.)US equity indexes traded mixed as plunging mega-cap semiconductor shares sent the Nasdaq Composite and the S&P 500 sharply lower ahead of Tuesday's close.The Nasdaq Composite slumped 2% to 25,648.8, and the S&P 500 dropped 1.3% to 7,376.1. The Dow Jones Industrial Average was little changed at 51,698.5 in the final leg of trading.Technology, industrials, and materials were the standout decliners, while consumer staples, real estate, and health care topped the gainers.In a category of stocks with a market capitalization of over $200 billion, 17 out of the 20 worst-performing stocks were technology firms. Sandisk (SNDK), Micron Technology (MU), and Arm (ARM) were the steepest decliners, sinking by at least 9.9% each ahead of the close. Within technology, semiconductors bore the brunt of investors' apathy.The sharp selling is likely profit-taking after market exuberance pushed tech stocks to record highs this year, Javier Correonero, Morningstar senior equity analyst, said in a news report published on the company's website. "There's a lot of froth in the markets."Tech stocks may face spillover impact from the selloff in South Korea, though the slide appears to be a "pullback/breather" in a market that nearly doubled this year, Wedbush Securities said in a note.Expectations that the Federal Reserve will raise interest rates later this year have weighed on stocks in recent sessions, according to the Morningstar news report. The CME FedWatch tool shows a 33% probability that the target rate for fed funds will be raised to 4% to 4.25% by December, from 3.5% to 3.75% currently, implying a 50-basis-point increase between now and the end of the year.In geopolitical news, President Donald Trump told reporters outside the White House that International Atomic Energy Agency inspectors will be heading to Iran, according to a report from Al Jazeera. In response to a journalist who said that Tehran claims that there are no scheduled IAEA visits, Trump said: "They're wrong, they know they're wrong. They told us inside, and we have it down 100 percent. If they were right, I'd cancel the meetings right now."Separately, Iran's President Masoud Pezeshkian said no negotiations will take place on the country's ballistic missiles, Al Jazeera reported.Front-month global benchmark North Sea Brent retreated 1% to $77.13 per barrel, and the US West Texas Intermediate slid 0.7% to $73.31 per barrel, off session lows.

Dow JonesNasdaq CompositeS&P 500$ARM$MU$SNDK
Research

New Street Research Downgrades ARM to Neutral From Buy, $375 Price Target

ARM Holdings (ARM) has an average rating of overweight and mean price target of $271.38, according to analysts polled by FactSet.Price: $444.71, Change: $+25.83, Percent Change: +6.17%

$ARM
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
Asia Markets

US Equity Indexes Decline as Technology Comes Under Selling Pressure

US equity indexes traded mixed but were off session lows amid a semiconductor-led decline in technology shares on Tuesday.The Nasdaq Composite dropped 1% to 25,678.82, with the S&P 500 down 0.3% to 7,386.65. The Dow Jones Industrial Average rose 0.2% to 50,872.11, after trading lower earlier in the day.Real estate, materials, and health care sectors led the gainers.Technology and energy were the only decliners, down 1.8% and 1.6%, respectively. Marvell Technology (MRVL), Arm (ARM), and Qualcomm (QCOM) declined by at least 5.7% each, the worst-performing three stocks among companies with market capitalizations exceeding $200 billion, according to data compiled by Finviz.SpaceX (SPCX), which is likely to go public on June 12, Amazon-backed (AMZN) Anthropic, and Microsoft-backed (MSFT) OpenAI's upcoming public offerings may drag down broader stock markets, Research Affiliates founder Rob Arnott told Bloomberg News on Friday. Index funds will have to trim their current positions to make room for new entrants.The consumer price index for May is due on Wednesday.The strength in the CPI will largely come from energy, with gasoline up roughly 8% on the month, alongside idiosyncratic pressures, Jefferies said in a note Friday. "Overall, the firm print looks somewhat skewed by energy and one-offs, but still keeps the inflation backdrop sticky in the near term."In precious metals, gold futures dropped 1.8% to $4,283.6, and silver futures slumped 4.6% to $65.44.In energy markets, West Texas Intermediate crude oil futures fell 3.1% to $88.50, and Brent crude futures slid 2.7% to $91.72.A deal to end the war in the Middle East could be reached in "two to three days," with the Strait of Hormuz reopening "immediately" after the agreement is signed, President Donald Trump was cited as saying in a CNBC news report late Monday. The two countries are nearing a pact "that will not in any way allow nuclear weapons," Trump reportedly said."Oil gave back most of Monday's gains after Israel and Iran halted hostilities that had threatened to derail already fragile efforts to secure a broader peace agreement in the Middle East," Saxo Bank wrote in a note. "US President Donald Trump, meanwhile, maintained his typically optimistic tone, saying negotiations are in the 'final throes' of what he expects will be a successful deal."Most US Treasury yields fell, with the 10-year down 3.2 basis points to 4.52%. The two-year rate fell 3.8 basis points to 4.12%.Further in economic news, US existing home sales increased to the highest level since December in May, the National Association of Realtors said. Sales rose 3.2% sequentially to a seasonally adjusted annual rate of 4.17 million units last month.The goods and services deficit narrowed $700 million to $55.9 billion in April from March on a seasonally adjusted basis, the US Census Bureau and the Bureau of Economic Analysis said. The consensus was for a $56.1 billion shortfall in a Bloomberg survey."Soaring oil exports are helping to narrow the US trade gap, with tariffs playing a more minor role in slowing imports," Sal Guatieri, BMO Capital Markets senior economist, said in a note. The export gain was driven by "surging crude sales" while computer hardware and microchips continued to fuel import growth, he said.

Dow JonesNasdaq CompositeS&P 500$AMZN$ARM$MRVL$MSFT$QCOM$SPCX
International

US Equity Markets End Lower Amid Tech Stock Sell-Off

US equity indexes were lower on Tuesday amid a technology stocks sell-off and despite progress in US-Iran peace negotiations.* Technology and energy were standout decliners, down 1.8% and 1.6%, respectively. Marvell Technology (MRVL), Arm (ARM), Dell (DELL), and Qualcomm (QCOM) declined by at least 7% each, according to data compiled by Finviz.* A deal to end the war in the Middle East could be reached in "two to three days," with the Strait of Hormuz reopening "immediately" after the agreement is signed, President Donald Trump was cited as saying in a CNBC news report.* US existing home sales rose 3.2% sequentially to a seasonally adjusted annual rate of 4.17 million units last month.* July West Texas Intermediate crude oil fell $2.73 to settle at $88.57 per barrel, while August Brent crude, the global benchmark, was last seen down $2.41 at $91.87.* J.M. Smucker (SJM) shares rose roughly 10%, the top gainer on the S&P 500, after the company reported better-than-expected fiscal Q4 results on Tuesday, while the food producer's full-year earnings outlook came in above Wall Street's estimates at the midpoint.* Salesforce (CRM) shares were down 3.9%, the worst performer on the Dow. The cloud-based customer relationship management platform provider implemented a fresh round of job cuts, Business Insider reported Tuesday.

Dow JonesNasdaq CompositeS&P 500$ARM$CRM$DELL$MRVL$QCOM$SJM
Japan

Technology Pushes US Equity Indexes Lower

US equity indexes fell following a semiconductor-led sell-off in technology that continued into the final leg of trading on Tuesday.The Nasdaq Composite dropped 1.6% to 25,522.1, with the S&P 500 down 0.8% to 7,346.7, and the Dow Jones Industrial Average lower by 0.1% to 50,708.4. All three gauges were off session lows.Technology and energy were standout decliners, down 2.8% and 1.8%, respectively, ahead of Tuesday's close. Marvell Technology (MRVL), Arm (ARM), and Qualcomm (QCOM) declined by at least 7.3% each, the worst-performing three stocks among companies with market capitalizations exceeding $200 billion, according to data compiled by Finviz.West Texas Intermediate crude oil futures fell 3.5% to $88.11, and Brent crude futures slid 3% to $91.40.A deal to end the war in the Middle East could be reached in "two to three days," with the Strait of Hormuz reopening "immediately" after the agreement is signed, President Donald Trump was cited as saying in a CNBC news report. The two countries are nearing a pact "that will not in any way allow nuclear weapons," Trump was cited as saying."Oil gave back most of Monday's gains after Israel and Iran halted hostilities that had threatened to derail already fragile efforts to secure a broader peace agreement in the Middle East," Saxo Bank wrote in a note. "US President Donald Trump, meanwhile, maintained his typically optimistic tone, saying negotiations are in the 'final throes' of what he expects will be a successful deal."

Dow JonesNasdaq CompositeS&P 500$ARM$MRVL$QCOM
Asia Markets

US Equity Indexes Slump as Semiconductors Lead Big-Tech Slide

US equity indexes dived following a sharp sell-off in technology, led by semiconductors, in midday trading on Tuesday.The Nasdaq Composite dropped 1.8% to 25,468.1, with the S&P 500 down 0.9% to 7,340.8, and the Dow Jones Industrial Average lower by 0.2% to 50,710.5.Technology and energy were standout decliners, down 3.1% and 1.9%, respectively. Marvell Technology (MRVL), Arm (ARM), Dell (DELL), and Qualcomm (QCOM) declined by at least 8% each, the worst-performing stocks among companies with market capitalizations exceeding $200 billion, according to data compiled by Finviz.The real estate, healthcare, and materials sectors led the gainers.West Texas Intermediate crude oil futures fell 3.4% to $88.22, and Brent crude futures dropped 2.8% to $91.60.A deal to end the war in the Middle East could be reached in "two to three days," with the Strait of Hormuz reopening "immediately" after the agreement is signed, President Donald Trump was cited as saying in a CNBC news report. The two countries are nearing a deal "that will not in any way allow nuclear weapons," Trump was cited as saying."Oil gave back most of Monday's gains after Israel and Iran halted hostilities that had threatened to derail already fragile efforts to secure a broader peace agreement in the Middle East," Saxo Bank wrote in a note. "US President Donald Trump, meanwhile, maintained his typically optimistic tone, saying negotiations are in the 'final throes' of what he expects will be a successful deal."Most US Treasury yields fell, with the 10-year down one basis point to 4.54%. The two-year rate fell 2.3 basis points to 4.14%.In precious metals, gold futures dropped 2% to $4,277.5, and silver futures slumped 5.2% to $65.04.US existing home sales increased to the highest level since December in May, the National Association of Realtors said. Sales rose 3.2% sequentially to a seasonally adjusted annual rate of 4.17 million units last month."More Americans are on the move, with home sales rising to the highest level since December. This is great news for the housing market and the economy," NAR Chief Economist Lawrence Yun said. "Improving affordability is helping drive this momentum."The goods and services deficit narrowed $700 million to $55.9 billion in April from March on a seasonally adjusted basis, the US Census Bureau and the Bureau of Economic Analysis said. The consensus was for a $56.1 billion shortfall in a Bloomberg survey."Soaring oil exports are helping to narrow the US trade gap, with tariffs playing a more minor role in slowing imports," Sal Guatieri, BMO Capital Markets senior economist, said in a note. The export gain was driven by "surging crude sales" while computer hardware and microchips continued to fuel import growth, he said.Wholesale inventories rose by 0.6% in April, revised up from a 0.5% increase in the advance reading and following a 1.5% rise in March. Analysts in a Bloomberg-compiled survey expected April inventories to be revised upward to a 0.6% increase.

Dow JonesNasdaq CompositeS&P 500$ARM$DELL$MRVL$QCOM
Japan

US Equity Indexes Sink as Big-Tech Craters in Midday Trading

US equity indexes slumped after midday on Tuesday amid a sharp sell-off in technology, led by semiconductors.The Nasdaq Composite dropped 2.3% to 25,334.1, with the S&P 500 down 1.4% to 7,303.2, and the Dow Jones Industrial Average lower by 0.7% to 50,442.3 in Tuesday's midday trading.Technology and energy were standout decliners, down 3.4% and 2.3%, respectively. Marvell Technology (MRVL), Arm (ARM), and Qualcomm (QCOM) declined by at least 8.8% each, making them the worst-performing three stocks among companies with market capitalizations exceeding $200 billion, according to data compiled by Finviz.The real estate and consumer staples sectors led the gainers.West Texas Intermediate crude oil futures sank 4.6% to $87.13, and Brent crude futures dropped 4% to $90.52."Oil gave back most of Monday's gains after Israel and Iran halted hostilities that had threatened to derail already fragile efforts to secure a broader peace agreement in the Middle East," Saxo Bank wrote in a note. "US President Donald Trump, meanwhile, maintained his typically optimistic tone, saying negotiations are in the 'final throes' of what he expects will be a successful deal."Most US Treasury yields fell, with the 10-year down 2.2 basis points to 4.53% and the two-year dropping 3.4 basis points to 4.12%.

Dow JonesNasdaq CompositeS&P 500$ARM$MRVL$QCOM
Asia Markets

US Equity Futures Mostly Lower Pre-Bell Amid Continued Tech Stock Sell-Off, US-Iran War Entering Fourth Month

US equity futures were mostly lower pre-bell Friday as a sell-off in tech stocks continued and the US-Iran conflict entered its fourth month.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were down 0.5%, and Nasdaq futures were 1.2% lower.Broadcom (AVGO) shares were down 2% in premarket activity after plunging 12.6% on Thursday, joining a broader stock sell-off in the semiconductor industry.US President Donald Trump said he would meet with Iranian Supreme Leader Ayatollah Mojtaba Khamenei if a deal is finalized to end the US-Iran war. The ceasefire between the two nations continues to be fragile, with attacks exchanged earlier in the week.Traders took note of the latest round of earnings, with Ciena (CIEN) reporting higher fiscal Q2 adjusted net income and revenue.Oil prices were marginally lower, with front-month global benchmark North Sea Brent crude down 0.1% at $94.93 per barrel and US West Texas Intermediate crude 0.1% lower at $92.95 per barrel.The May national unemployment rate was reported at 4.3%, unchanged from the prior month and meeting estimates compiled by Bloomberg.In other world markets, Japan's Nikkei closed 1.3% lower, Hong Kong's Hang Seng ended 1.2% lower, and China's Shanghai Composite finished 0.7% lower. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was steady in Europe's early afternoon session.In equities, ARM (ARM), Micron Technology (MU), and Marvell Technology (MRVL) shares were all down as traders continued unloading stocks in the semiconductor sector. ARM shares fell 5.5%, Micron stock was down 4.1%, and Marvell shares dropped 3.5%. Lululemon Athletica (LULU) stock was down 11% after the company reported a decline in fiscal Q1 earnings and trimmed its 2026 outlook.On the winning side, ServiceTitan (TTAN) stock was up 13% after the company posted fiscal Q1 results that surpassed analysts' expectations and raised its fiscal 2027 revenue guidance.

Dow JonesNasdaq CompositeS&P 500$ARM$AVGO$CIEN$LULU$MRVL$MU$TTAN
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

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