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Asia Markets

Update: US Equity Futures Higher Pre-Bell Amid Inflation Data, Middle East Tensions

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging slightly higher pre-bell Wednesday as traders considered the latest inflation data amid the continuing tensions in the Middle East.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.5% higher.The US seasonally adjusted consumer price index, a measure of inflation, fell by 0.4% in June, compared with expectations for a 0.1% decrease in a survey compiled by Bloomberg and following a 0.5% increase in May, government data showed.In a post on X, US Central Command said it started another wave of attacks against Iran at 6 am ET, aiming to "further degrade military capabilities Iranian forces have used to attack commercial shipping in the Strait of Hormuz."President Donald Trump reiterated in a post on Truth Social that the US was reinstating a "full" blockade, "but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo." Trump also backtracked from a threat to impose a 20% levy on cargo shipped through the Strait of Hormuz, saying that the Gulf States would invest in the US instead.Traders also digested the latest round of earnings with ASML (ASML) reporting higher Q2 earnings and sales, and Johnson & Johnson (JNJ) posted an increase in Q2 adjusted earnings and sales.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.4% at $85.04 per barrel and US West Texas Intermediate crude 0.5% higher at $79.72 per barrel.The US Producer Price Index, released at 8:30 am ET, fell 0.3% in June following a 0.6% increase in May, compared with no change expected in a survey compiled by Bloomberg. The New York Federal Reserve's Empire State manufacturing index jumped to 15.6 in July from 5.7 in June, compared with expectations of a smaller increase to a reading of 9.2.Federal Reserve Chair Kevin Warsh will testify before the Senate Banking Committee at 10 am ET, following a similar presentation Tuesday before the House.Federal Reserve New York President John Williams, St. Louis President Alberto Musalem, and Governor Lisa Cook are slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 1.5% higher, Hong Kong's Hang Seng ended 1.4% higher, and China's Shanghai Composite finished 0.3% lower. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was 0.6% lower in Europe's early afternoon session.In equities, ASML stock was up 3.2% after the company reported its Q2 financial results. Alibaba's (BABA) shares were 4.1% higher after a Bloomberg report cited a company spokesperson as saying that Apple (AAPL) would be integrating the Alibaba's Qwen AI into Chinese iPhones, iPads, and Mac operating systems. Merck (MRK) stock was up 2.3% after the company said the phase 3 trial of its therapy, Keytruda, met the primary endpoint of progression-free survival in patients with mismatch repair-deficient advanced or recurrent endometrial cancer.On the losing side, Johnson & Johnson shares fell 2.1% after the company posted its Q2 financial results.

Dow JonesNasdaq CompositeS&P 500$AAPL$ASML$BABA$JNJ$MRK
Sectors

Sector Update: Tech

Technology stocks were rising premarket Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.4% higher.ASML Holding (ASML) stock was up more than 3% after the company reported year-over-year growth in Q2 earnings and sales and raised revenue guidance for the full-year 2026.

$ASML
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Wednesday Amid Economic Reports

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.4% in Wednesday's premarket activity, amid economic data releases.US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures slipping 0.02%, and Nasdaq futures gaining 0.4% before the start of regular trading.Mortgage applications fell by 2.7% in the week ended July 10 as higher 30-year mortgage rates depressed new home applications, while refinancing activity improved, according to Mortgage Bankers Association data released Wednesday.The New York Federal Reserve's Empire State manufacturing index rose to 15.6 in July from 5.7 in June, compared with a smaller expected increase to a reading of 9.2 in a survey compiled by Bloomberg.US producer prices fell 0.3% in June, compared with expectations for no change, while core producer prices rose 0.2%, below forecasts for a 0.3% increase.Fed Chair Kevin Warsh begins his second day of testimony at 10:00 am ET.Weekly crude oil stocks data are set for release at 10:30 am ET, followed by an appearance byNew York Fed President John Williams and Fed Governor Lisa Cook are slated to speak on Wednesday.The Fed's Beige Book report will be released at 2:00 pm ET.In premarket action, bitcoin was up by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% higher, Ether ETF (EETH) advanced 0.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated 0.01%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.6%, the Vanguard Industrials Index Fund (VIS) rose 1%, while the iShares US Industrials ETF (IYJ) was inactive.Pentair (PNR) stock fell more than 21% before the opening bell after the water treatment company reported preliminary Q2 results below market estimates and lowered its full-year outlook amid headwinds related to its pool segment.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.1% lower.BlackRock (BLK) shares traded up more than 4% in early hours activity after Bloomberg reported the company is in discussions over providing about $45 million in private credit to Indian e-commerce platform Udaan as part of a proposed $160 million funding package.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.6%, and the iShares US Technology ETF (IYW) was 0.2% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 1.1%, while the iShares Semiconductor ETF (SOXX) rose by 1.4%.ASML (ASML) shares were up more than 3% in premarket activity after the company reported year-over-year growth in Q2 earnings and sales and raised revenue guidance for the full-year 2026.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) retreated 0.01%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was up 1.2%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was flat.Lucid (LCID) shares were down more than 2% pre-bell after dropping more than 16% in Tuesday's regular session following rumors of a potential bankruptcy filing that the company quashed.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) declined 0.6%, the Vanguard Health Care Index Fund (VHT) was down 0.3%, while the iShares US Healthcare ETF (IYH) slipped 0.3%. The iShares Biotechnology ETF (IBB) was up 0.2%.Merck (MRK) stock was up more than 1% premarket after the company said a phase 3 trial of its therapy, Keytruda, met the primary endpoint of progression-free survival in patients with mismatch repair-deficient advanced or recurrent endometrial cancer.EnergyThe iShares US Energy ETF (IYE) was down 2.5%, while the State Street Energy Select Sector SPDR ETF (XLE) retreated by 0.1%.Oceaneering International (OII) stock was up nearly 1% before market open after the company and Kongsberg were selected by the US Department of War's Defense Innovation Unit to support the US Navy's vision for scalable uncrewed undersea platforms.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 0.6% to $79.82 per barrel on the New York Mercantile Exchange. Natural gas was down by 0.2% to $2.90 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 0.1%, while the United States Natural Gas Fund (UNG) was 0.9% lower.Gold futures for July gained 0.8% to $4,035.90 an ounce on the Comex. Silver futures retreated by 1.4% to $58.28 an ounce. SPDR Gold Shares (GLD) decreased 0.4%, and the iShares Silver Trust (SLV) was 1.2% lower.

Dow JonesNasdaq CompositeS&P 500$ASML$BETH$BITO$BLK$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LCID$MRK$OII$PMR$PNR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Japan

US Equity Futures Higher Pre-Bell Amid Inflation Data, Middle East Tensions

US equity futures were edging higher pre-bell Wednesday as traders considered the latest inflation data amid the continuing tensions in the Middle East.S&P 500 futures were up 0.1%, Nasdaq futures were 0.4% higher, while Dow Jones Industrial Average futures were steady.The US seasonally adjusted consumer price index, a measure of inflation, fell by 0.4% in June, compared with expectations for a 0.1% decrease in a survey compiled by Bloomberg and following a 0.5% increase in May, government data showed.In a post on X, US Central Command said it started another wave of attacks against Iran at 6 am ET, aiming to "further degrade military capabilities Iranian forces have used to attack commercial shipping in the Strait of Hormuz."President Donald Trump reiterated in a post on Truth Social that the US was reinstating a "full" blockade, "but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo." Trump also backtracked from a threat to impose a 20% levy on cargo shipped through the Strait of Hormuz, saying that the Gulf States would invest in the US instead.Traders also digested the latest round of earnings with ASML (ASML) reporting higher Q2 earnings and sales, and Johnson & Johnson (JNJ) posted an increase in Q2 adjusted earnings and sales.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.4% at $85.04 per barrel and US West Texas Intermediate crude 0.4% higher at $79.65 per barrel.The June Producer Price Index, scheduled for release at 8:30 am ET, is expected to hold steady with no change following a 1.1% increase in the preceding month, according to estimates compiled by Bloomberg. The July Empire State manufacturing index, slated for release at the same time, is seen coming in at 9.2 versus 5.7 previously.Federal Reserve Chair Kevin Warsh will testify before the Senate Banking Committee at 10 am ET, following a similar presentation Tuesday before the House.Federal Reserve New York President John Williams, St. Louis President Alberto Musalem, and Governor Lisa Cook are slated to speak on Wednesday.

Dow JonesNasdaq CompositeS&P 500$ASML$JNJ
Asia Markets

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

European equities traded in the US as American depositary receipts were rising on Tuesday morning, adding 0.4% to 1,898.84 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by bank UBS (UBS) and semiconductor company Sequans (SQNS), which rose 4.3% and 4% respectively.They were followed by semiconductor company ASML (ASML), which added 2.4%.The decliners from continental Europe were led by technology company Ericsson (ERIC) and health technology company Philips (PHG), which fell 12% and 2.4% respectively.They were followed by software company SAP (SAP), which shed 2.3%, and pharmaceutical company Sanofi (SNY), which was down 1.8%.From the UK and Ireland, the gainers were led by banks Barclays (BCS) and HSBC (HSBC), which rose 2.2% and 2.2% respectively.The decliners from the UK and Ireland were led by hospitality company InterContinental Hotels Group (IHG) and beverage giant Diageo (DEO), which lost 2.6% and 2% respectively.

$ASML$BCS$DEO$ERIC$HSBC$IHG$PHG$SAP$SNY$SQNS$UBS
Asia Markets

Update: US Equity Futures Mixed Pre-Bell as Middle East Tensions Intensify, Major US Banks Post Earnings

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mixed pre-bell Tuesday as traders monitored the unabated rise of tensions in the Middle East, as well as the financial results of major US banks.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were flat, and Nasdaq futures were 0.7% higher.US Central Command completed another series of attacks against Iran on Monday night, its third consecutive wave, aiming to "continue imposing a heavy cost on Iranian forces and degrade their ability to attack innocent civilians and commercial shipping in the Strait of Hormuz," the command said in a post on X.Meanwhile, President Trump said the US is reinstating the blockade on Iranian vessels. "The U.S.A. will be, from this point forward, known as "THE GUARDIAN OF THE HORMUZ STRAIT," but as such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped," Trump said in a post on Truth Social.Traders digested the latest round of earnings, with JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), and Goldman Sachs Group (GS) all reporting higher Q2 earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.4% at $86.92 per barrel and US West Texas Intermediate crude 3.1% higher at $80.53 per barrel.The June consumer price index, released at 8:30 am ET, fell 0.4%, compared with a 0.5% gain in the previous month, and wider than an expected 0.4% decrease in a survey compiled by Bloomberg.New Federal Reserve Chair Kevin Warsh will deliver his first semi-annual monetary policy report to the House Financial Services Committee, starting at 10 am ET.Federal Reserve Governors Lisa Cook, Michael Barr, Michelle Bowman, and Chicago President Austan Goolsbee are slated to speak on Tuesday.In other world markets, Japan's Nikkei closed 0.7% higher, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 1.4% higher. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was 0.9% lower in Europe's early afternoon session.In equities, IBM (IBM) shares fell 22% after the company said it expects Q2 earnings and revenue to be below analysts' consensus estimates. Several major US bank stocks were down after reporting Q2 financial results. JPMorgan Chase shares dropped 2.3%, Bank of America stock was down 1.8%, and Wells Fargo shares were 1.4% lower.On the winning side, stocks of ASML (ASML), Applied Materials (AMAT), and Lam Research (LRCX) rose as part of a broader rebound in the semiconductor sector after a previous sell-off. ASML shares rose 3%, Applied Materials stock was up 6.1%, and Lam Research shares were 6.1% higher. Goldman Sachs shares increased 4% after the bank posted its Q2 financial results.

Dow JonesNasdaq CompositeS&P 500$AMAT$ASML$BAC$GS$IBM$JPM$LRCX$WFC
Asia Markets

US Equity Investors to Focus on Banks Kicking Off Q2 Earnings, Warsh's Take on Inflation, Worsening Geopolitics This Week

US equity investors will focus on Q2 earnings this week, with big money-centre banks kicking off the earnings season in earnest, and consumer price inflation data amid an escalation of tensions with Iran.* JPMorgan Chase (JPM), Citibank (C), Bank of America (BAC), Goldman Sachs (GS), Morgan Stanley (MS), and Wells Fargo (WFC) are among banks reporting quarterly earnings, with investors expecting results to help counter tense geopolitics. ASML (ASML) and Taiwan Semiconductor Manufacturing (TSM) are among the others reporting, giving investors a fresh take on the state of the so-called AI trade.* Investors will look out for consumer and wholesale price inflation data amid the market pricing in at least one interest rate increase this year. Additionally, Federal Chair Kevin Warsh's testimony is due, alongside retail sales, Michigan consumer sentiment, and inflation expectations.* The combined probability that rates will be higher by 25 or 50 basis points from current levels by December is around 70%, according to the CME FedWatch tool. Investors will parse Warsh's testimony, which comes amid a worsening geopolitical environment and higher crude oil prices. Fed's June meeting minutes, released last week, showed "quite a divide" on the rate path given the impact of the war in Iran on inflation, a Stifel note said on Friday.* The US and Iran each asserted Monday they controlled the Strait of Hormuz after a weekend of attacks stretching across the wider Middle East, further threatening any diplomacy to end the war, the Associated Press reported early Monday.* Iran and the US are nearly at the midway point of a 60-day period that was supposed to result in a permanent end to the war, the news report said. Instead, it has devolved into a series of attacks over the strait and its future, worrying world leaders that the Iran war could fully resume, it added.* Early Monday, West Texas Intermediate crude oil futures jumped 3.4% to $73.87 a barrel.

Dow JonesNasdaq CompositeS&P 500$ASML$BAC$C$GS$JPM$MS$TSM$WFC
Wire

Cencora Pick of the Week at Smart Insider Following Chairman's Share Purchase

Cencora (COR) was Smart Insider's stock pick of the week after Chair Mark Durcan bought $1 million in company shares on May 28.Durcan, who has served as chair since October 2025 and has been a director since 2015, acquired 4,000 shares at $266 apiece, Smart Insider said in a Tuesday note.The purchase followed a decline in the stock after the company's Q2 earnings report, according to Smart Insider.Cencora also announced plans to resume share repurchases, authorizing up to $2 billion after pausing the program in January, according to the note.The transaction was Durcan's fourth purchase during his time on the board, with previous acquisitions ranging from about $100,000 to $200,000.Smart Insider described the purchase as "unusually large" for Durcan, adding that he did not buy shares while serving on the boards of other companies, including ASML (ASML) and Advanced Micro Devices (AMD), or during his tenure as chief executive of Micron Technology (MU).Smart Insider ranked Cencora +1, indicating a strong positive signal.Price: $280.57, Change: $-1.06, Percent Change: -0.38%

$AMD$ASML$COR$MU
Wire

Market Chatter: US Proposes AI Partnership With EU to Secure Chip Supply Chains

The US is looking to partner with the EU on AI in an effort to secure supply chains for semiconductors amid increasing competition from China, Bloomberg reported Thursday, citing a draft statement of the proposal.EU member state ambassadors were briefed on the proposal this week, the report said, citing people familiar with the matter.The White House didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $196.05, Change: $-2.86, Percent Change: -1.44%

$AMD$ASML$AVGO$NVDA$QCOM$TSM
Sectors

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.4% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.4%.The Philadelphia Semiconductor index slumped 3.6%.In sector news, institutional demand for SpaceX shares is more than four times the amount available ahead of its initial public offering, Bloomberg reported.In corporate news, Microsoft-backed (MSFT) OpenAI is expected to go public within the next year, although the timing could shift depending on market and company conditions, The Information reported, citing Chief Executive Sam Altman's Slack message to staff. Microsoft shares were down 1.3%.Super Micro Computer (SMCI) shares tumbled past 25% after the company said late Tuesday it is planning $7 billion worth of equity and equity-linked financing transactions as part of efforts to fund AI orders related to its advanced servers.Alphabet (GOOGL, GOOG) unit Google's YouTube and Meta (META) were denied a new trial after a jury found that the companies were liable for designing social media platforms that are addictive to young people, Reuters reported Wednesday. Alphabet shares were down 2.2%, and Meta shed 2.2%.ASML (ASML) will cut fewer jobs than the roughly 1,700 positions it initially planned to eliminate following negotiations with Dutch labor unions, Bloomberg reported. ASML shares declined 2%.

$ASML$GOOG$GOOGL$META$MSFT$SMCI
Sectors

Sector Update: Tech

Tech stocks were lower late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.9%.The Philadelphia Semiconductor index slumped 2.9%.In corporate news, ASML (ASML) will cut fewer jobs than the roughly 1,700 positions it initially planned to eliminate following negotiations with Dutch labor unions, Bloomberg reported. ASML shares were down 1.8%.

$ASML
Wire

Market Chatter: ASML to Cut Fewer Jobs Than Initially Planned After Union Talks

ASML (ASML) will cut fewer jobs than the roughly 1,700 positions it initially planned to eliminate following negotiations with Dutch labor unions, Bloomberg reported Wednesday.Affected workers will have until May 2027 to find alternative positions within the company, while severance payments will be capped at about $462,200, Bloomberg reported, citing union spokesperson Diederik Bonarius.ASML announced plans in January to reduce about 1,700 jobs, mostly in the Netherlands, with some in the US.ASML did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $1750.97, Change: $-26.80, Percent Change: -1.51%

$ASML
Wire

Market Chatter: Nikon Eyes Lithography Comeback With Price Play Against ASML

Nikon is pushing to reclaim ground in the semiconductor photolithography equipment market by undercutting Dutch rival ASML (ASML) on price, Nikkei Asia reported Friday, citing the Japanese company's president and chief executive, Yasuhiro Ohmura.Nikon produces many components in-house, giving it a structural cost advantage, Ohmura told Nikkei.The company is in talks with several major chipmakers in the US and Asia about new orders for its argon fluoride lithography equipment amid the artificial intelligence boom, with talks "nearing purchase orders," Ohmura reportedly said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $1611.06, Change: $+5.29, Percent Change: +0.33%

$ASML
Wire

Market Chatter: ASML CEO Says Global Semiconductor Market to Remain 'Tense' With Tight Supply for Foreseeable Future

ASML (ASML) Chief Executive Officer Christophe Fouquet said that the global semiconductor market will remain "tense" with tight supply for the foreseeable future as demand from artificial intelligence, satellites and robots outpaces industry production, Reuters reported Wednesday.Fouquet further said that there would likely be sporadic bottlenecks throughout the supply chain of the chip market, which is expected to hit $1.5 trillion by 2030, according to the report.Fouquet added that Elon Musk's proposed "TeraFab" AI plan and Starlink satellites could drive a new leg of demand, Reuters said.An ASML spokesperson could not be immediately contacted by.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $1516.39, Change: $+56.95, Percent Change: +3.90%

$ASML
Sectors

Sector Update: Tech Stocks Mixed in Afternoon Trading

Tech stocks were mixed Tuesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) falling 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 1.3%.The Philadelphia Semiconductor index climbed 0.8%.In corporate news, Nvidia's (NVDA) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said. Nvidia shares were little changed.Meta Platforms (META) is moving 7,000 employees into new AI-focused roles as part of a broader restructuring that also includes planned job cuts later this week, Bloomberg reported Monday. Meta shares fell 1.5%.ASML (ASML) plans to begin receiving chip equipment made by its newest machines within months, Reuters reported, citing CEO Christophe Fouquet. ASML shares fell 0.5%.

$ASML$META$NVDA
Japan

US Equity Markets End Lower as Rising Oil, Bond Yields Stoke Inflation Concerns

US equity indexes ended lower on Friday as crude oil prices and government bond yields rose, triggering increasing concerns that rising energy costs will spur inflation.* The US war with Iran is nearing its 11th week, and the Strait of Hormuz remains closed to oil tankers.* Industrial production rebounded by 0.7% in April, above expectations for a 0.3% increase in a Bloomberg survey and following an upwardly revised 0.3% decline in March.* June West Texas Intermediate crude oil rose $4.29 to settle at $105.46 per barrel, while July Brent crude, the global benchmark, was last seen up $3.55 at $109.28.* Nvidia (NVDA), Advanced Micro Devices (AMD), Arm Holdings (ARM) and Intel (INTC) shares declined, while ASML Holding (ASML) and STMicroelectronics (STM) also fell after a US-China summit ended without major semiconductor agreements.* DexCom (DXCM) shares rose 6.6%, the top gainer on the S&P 500, after the company set new long-term financial goals, including organic revenue growth of more than 10% a year through 2030.

Dow JonesNasdaq CompositeS&P 500$AMD$ASML$DXCM$INTC$NVDA$STM
Sectors

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) down 2%.The Philadelphia Semiconductor index slumped 3.3%.In corporate news, Bill Ackman said Friday on the social media platform X that his Pershing Square hedge fund has sold Alphabet (GOOGL) shares and established a new position in Microsoft (MSFT). Alphabet shares were down 1.1%, and Microsoft climbed 3.7%.Nvidia (NVDA), Advanced Micro Devices (AMD) and Intel (INTC) shares declined in Friday trading, while ASML (ASML) and STMicroelectronics (STM) also fell after a US-China summit ended without major semiconductor agreements, Yahoo Finance reported. The pullback came after talks between President Donald Trump and Chinese President Xi Jinping failed to produce significant developments on semiconductor trade issues, despite investor expectations for progress on advanced chip sales to China, the report said. Nvidia shares fell 3.6%, AMD lost 4.4%, Intel declined 5.9%, ASML dropped 4.7%, and STMicroelectronics slumped 4.3%.Figma (FIG) shares gained 14% after it posted Q1 adjusted net income and revenue that surpassed analysts' estimates.Xerox (XRX) shares jumped past 7% after alternative investment fund Starteepo Invest acquired 6.6 million shares of the company, representing a 5.05% stake.

$AMD$ASML$FIG$GOOGL$INTC$MSFT$NVDA$STM$XRX
Sectors

Sector Update: Tech Stocks Fall in Afternoon Trading

Tech stocks were lower Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 0.7% and the State Street SPDR S&P Semiconductor ETF (XSD) down 1.6%.The Philadelphia Semiconductor index slumped 2.6%.In sector news, the world's largest AI firms could earn $200 billion in revenue this year, more than five times the $37 billion they brought in last year, according to estimates from Menlo Ventures. The venture capital firm has tracked AI revenue growth from Microsoft (MSFT), Amazon (AMZN), Alphabet's Google (GOOGL), OpenAI, Anthropic, Cursor and other companies for the past three years.In corporate news, Nvidia (NVDA), Advanced Micro Devices (AMD) and Intel (INTC) shares declined in Friday trading, while ASML (ASML) and STMicroelectronics (STM) also fell after a US-China summit ended without major semiconductor agreements, Yahoo Finance reported. The pullback came after talks between President Donald Trump and Chinese President Xi Jinping failed to produce significant developments on semiconductor trade issues, despite investor expectations for progress on advanced chip sales to China, the report said. Nvidia shares fell 2.5%, AMD lost 3.5%, Intel declined 5.3%, ASML dropped 4.2%, and STMicroelectronics slumped 3.8%.Bill Ackman said Friday on the social media platform X that his Pershing Square hedge fund has sold Alphabet (GOOGL) shares and established a new position in Microsoft (MSFT). Alphabet shares were down 1%, and Microsoft climbed 4.3%.Xerox (XRX) shares jumped past 9% after alternative investment fund Starteepo Invest acquired 6.6 million shares of the company, representing a 5.05% stake.

$AMD$ASML$GOOGL$INTC$MSFT$NVDA$STM$XRX
Sectors

Sector Update: Tech

Tech stocks were lower Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.2% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.4%.The Philadelphia Semiconductor index slumped 3.1%.In corporate news, Nvidia (NVDA), Advanced Micro Devices (AMD) and Intel (INTC) shares declined in Friday trading, while ASML (ASML) and STMicroelectronics (STM) also fell after a US-China summit ended without major semiconductor agreements, Yahoo Finance reported. The pullback came after talks between President Donald Trump and Chinese President Xi Jinping failed to produce significant developments on semiconductor trade issues, despite investor expectations for progress on advanced chip sales to China, the report said. Nvidia shares fell 3.3%, AMD lost 4%, Intel declined 6.9%, ASML dropped 4.2%, and STMicroelectronics slumped 4.4%.

$AMD$ASML$INTC$NVDA$STM
Wire

Top Midday Stories: Semiconductor Stocks Down After Trump-Xi Summit; Microsoft Gets Investment From Ackman

All three major US stock indexes were down while US Treasury yields were up in late-morning trading Friday, as investors consider developments from President Donald Trump's summit with Chinese President Xi Jinping.In company news, major semiconductor shares were down after the US-China summit failed to produce any major semiconductor agreements, Yahoo Finance reported. President Trump said China has not approved purchases of Nvidia's (NVDA) H200 AI microchips yet because "they want to develop their own," Bloomberg reported Friday. Nvidia shares were over 3% lower, and Advanced Micro Devices (AMD), Intel (INTC) and ASML (ASML) shares were down 3.3%, 6.3% and 4.6%, respectively.Bill Ackman said Friday on X that his hedge fund, Pershing Square, has made a significant investment in Microsoft (MSFT). Microsoft shares were up 3.5%.Applied Materials (AMAT) reported fiscal Q2 adjusted earnings late Thursday of $2.86 per diluted share, up from $2.39 a year ago, and above the FactSet consensus estimate of $2.68. Revenue was $7.91 billion, up from $7.10 billion a year ago, and above the FactSet consensus of $7.68 billion. For fiscal Q3, the company said it expects adjusted EPS of $3.16 to $3.56 on revenue of $8.45 billion to $9.45 billion. Analysts expect $2.89 and $8.14 billion, respectively. The firm expects its semiconductor equipment business to grow more than 30% in 2026, up from its previous guidance of over 20%, according to the transcript of the company's earnings call. Applied Materials shares were little changed.Shares of Cerebras Systems (CBRS) were down 4% Friday after rising over 98% in the previous day following its Nasdaq debut.Blackstone (BX) and CD&R are in the preliminary stages of exploring offers to acquire Magnum Ice Cream (MICC), Reuters reported Friday, citing sources familiar with the matter. Blackstone shares were down 3.0%, while Magnum was up 9%.Price: $227.99, Change: $-7.75, Percent Change: -3.29%

$AMAT$AMD$ASML$BX$CBRS$INTC$MICC$MSFT$NVDA$STM

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