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American Express (AXP) has an average rating of overweight and mean price target of $376.92, according to analysts polled by FactSet.Price: $333.26, Change: $-2.13, Percent Change: -0.64%
American Express (AXP) raised its full-year 2026 revenue growth guidance to 10%, as expected, and maintained its prior earnings per share outlook as it reinvests H1 upside into customer acquisition, technology and other growth initiatives, Morgan Stanley said in a note Monday.The brokerage sees this as a "constructive" move to sustain long-term top-line momentum, though it does lower its view of near-term operating leverage, according to the note.American Express said geopolitical developments affected some categories, including travel in the Middle East and gasoline spending, but saw no evidence of a broader slowdown in Q2. However, management did not provide a July or quarter-to-date spending update, the note added.The planned exits of Lowe's (LOW) and Amazon (AMZN) small-business co-brand portfolios will be a slight headwind to H2 growth, the brokerage said.Morgan Stanley reduced its 2026 and 2027 EPS estimates by $0.08 and $0.15, respectively, to $17.60 and $20.10.Morgan Stanley kept an equal weight rating on American Express and lowered its price target to $382 from $385.Price: $333.31, Change: $+7.14, Percent Change: +2.19%
(Updates with market moves at the end of the day and weekly index changes.)US stocks closed mixed Friday at the end of another bruising week, while oil prices retreated amid uncertainty around the Middle East situation.The Dow Jones Industrial Average rose 0.5% to 51,947.25, while the Nasdaq Composite fell 0.6% to 24,975.82. The S&P 500 edged up 0.1% to 7,411.98. Barring technology, all sectors advanced, led by real estate.This week, the Nasdaq fell 2.1% and the S&P 500 shed 0.6%, logging their second consecutive weekly losses. The Dow lost 0.4% to mark its third straight weekly decline.West Texas Intermediate crude was down 2.4% at $90.01 a barrel in Friday late-afternoon trade, while Brent fell 3% to $97.67. Both benchmarks were still on track for sharp gains for the week and this month.Pakistan has held exploratory discussions with Iran's Interior Minister Eskandar Momeni as it seeks to renew talks between Washington and Tehran, Reuters reported Friday, citing Pakistani sources. Islamabad has discussed the Middle East situation with China, according to the report.Bahrain, Jordan and Kuwait fended off Iranian attacks on Friday, CNN reported. US President Donald Trump told Axios on Thursday that he was "considering a massive attack" against Iran.US Treasury yields were mixed, with the two-year rate little changed at 4.35% and the 10-year rate down 1.7 basis points at 4.68%.The US on Thursday announced new tariffs on 60 economies over alleged forced labor failures, effectively replacing President Donald Trump's temporary 10% global tariffs, CNBC reported."The snap-back in oil prices, as well as another turn of the screw in tariffs, complicates the job of central bankers everywhere, and lands with a thud ahead of the (Federal Open Market Committee) meeting," BMO said in a report Friday.The probability that the US Federal Reserve will leave its benchmark lending rate unchanged next week moved to 62% on Friday from 87% a week ago, according to the CME FedWatch tool. The odds of a quarter-percentage-point increase shot up to 38% from 13%.In economic news, US private-sector output growth reached an eight-month high in July amid services boost, though price pressures intensified due to disruptions caused by the Middle East conflict, S&P Global's (SPGI) flash purchasing managers' index showed Friday.New-home sales in the US increased last month for the first time since March as house prices continued to fall, though inventory remained elevated at more than a nine-month supply, official data showed.In corporate news, Verizon Communications (VZ) raised its full-year earnings outlook amid phone subscriber gains in the second quarter. The company's shares jumped 5.8%.American Express (AXP) was the worst performer on the Dow, down 4.3%. The payments company's second-quarter earnings topped Wall Street's estimates, but revenue missed expectations.Gold was up 0.1% at $4,054.60 per troy ounce, while silver gained 0.6% to $58.40 per ounce.
(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes closed mixed as government bond yields and crude oil declined amid hopes of the resumption of Iran peace talks.The Dow Jones Industrial Average rose 0.5% to 51,947.25, and the S&P 500 edged up by less than 0.1% to 7,411.98. The Nasdaq Composite fell 0.6% to 24,975.82. Real estate, materials, and communication staples topped the gainers. All but one sector, technology, traded higher.President Donald Trump said the US and Iran remain in talks and that he believes Tehran is "getting more serious," CNN reported late Friday. Earlier in the day, Trump met with top advisers and Cabinet officials to discuss a potential escalation if negotiations are not fruitful, a source told CNN.Pakistan is exploring a path toward a resumption of stalled talks between the US and Iran over ending the war, following a push initiated by China, Reuters reported, citing sources, on Friday. Exploratory discussions took place during a visit by Iran's Interior Minister Eskandar Momeni to Islamabad this week -- his second within the last 10 days, three Pakistani sources told the news agency. All three sources cautioned that obstacles to talks with the US remained high, per the news report.Tracking data showed two oil tankers sailing through the Gulf of Aden on Friday despite threats from the Iran-aligned Houthis, CNN reported. The Houthi attacks on two Saudi Arabian tankers in the Red Sea chokepoint on Thursday forced several other tankers to turn around and head north through the Suez Canal, potentially using a much longer route to reach Asia by sailing around Africa, Reuters reported.The front-month US West Texas Intermediate dropped 2.3% to $90.07 a barrel, and global benchmark North Sea Brent slumped 2.8% to $97.85 a barrel, retreating from a surge this week amid the Houthi attacks in the Red Sea targeting Saudi crude oil exports.The latest jump in oil prices is likely to be short-lived, a Dow Jones news report cited a Julius Baer note, referring to Brent crude surpassing the $100 mark Thursday for the first time since the US-Iran ceasefire agreement in June. Despite fresh attacks on tankers in the Red Sea and the Strait of Hormuz, the renewed fighting appears to reflect efforts by the parties to strengthen their bargaining positions ahead of another round of negotiations, the news report cited the note.Most US Treasury yields fell as a decline in crude oil helped keep a lid on inflation worries. The 10-year declined two basis points to 4.68%, retreating from its highest seen in a year on Thursday. The two-year dropped 2.3 basis points to 4.34%, after yields hit fresh 52-week highs twice this week.In precious metal markets, gold futures edged up 0.1% to $4,055.1, and silver futures advanced 0.6% to $58.41.In company news, Digital Realty Trust (DLR) reported Q2 core funds from operations and operating revenue above market expectations late Thursday, and raised its 2026 core FFO and sales guidance. Shares surged nearly 11%, among the top gainers on the S&P 500.American Express (AXP) Q2 earnings topped market estimates, while revenue missed expectations. Shares dropped 4.3%, the steepest decliner on the Dow.In economic news, the July flash reading of manufacturing conditions from S&P Global slipped to 53.8 from 53.9 in June, compared with the 54.4 print expected in a survey compiled by Bloomberg.New-home sales rose to a 628,000 annual rate in June from an upwardly revised 618,000 rate in May, compared with the 607,000 rate expected in a survey compiled by Bloomberg. Home sales were still down 5.6% from a year ago.
Financial stocks rose in late Friday afternoon trading, with the NYSE Financial Index adding 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) increasing 0.7%.The Philadelphia Housing Index gained 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 2.3%.Bitcoin (BTC-USD) was declining 1.5% to $64,087, and the yield for 10-year US Treasuries shed 2.4 basis points to 4.679%.In economic news, the July flash reading of manufacturing conditions from S&P Global slipped to 53.8 from 53.9 in June, compared with the 54.4 print expected in a survey compiled by Bloomberg.New-home sales rose to a 628,000 annual rate in June from an upwardly revised 618,000 rate in May, compared with the 607,000 rate expected in a survey compiled by Bloomberg. Home sales were still down 5.6% from a year ago.In corporate news, Digital Realty Trust (DLR) reported Q2 core funds from operations and operating revenue above market expectations late Thursday, and the company also raised its 2026 core FFO and revenue guidance. Shares surged past 11%.BlackRock (BLK) started marketing $12.3 billion in high-grade bonds to finance a Meta Platforms (META) data center project, Bloomberg reported. BlackRock shares rose 1.7%.American Express' (AXP) Q2 earnings topped Wall Street's estimates, but revenue missed expectations, while the company now expects full-year revenue to grow at the high end of its previous guidance range. Its shares fell 4.6%.Tompkins Financial (TMP) shares jumped past 8% after it reported better-than-expected Q2 results.Safety Insurance (SAFT) shares soared 42%. The company said late Thursday it entered an agreement to be acquired by an affiliate of Mapfre in a $1.54 billion all-cash deal.
(Updates with latest market prices and developments.)US benchmark equity indexes were mostly higher intraday as oil prices pulled back, with traders apparently shaking off worries over heightened tensions in the Middle East and President Donald Trump's new phase of global tariffs.The Dow Jones Industrial Average was up 0.5% at 51,989 after midday Friday, while the S&P 500 rose 0.4% to 7,437.9. The Nasdaq Composite edged down 0.1% to 25,109.9. Barring technology, all sectors were in the green, led by real estate.West Texas Intermediate crude was down 4% at $88.51 a barrel, while Brent fell 4.7% to $96. Both benchmarks advanced earlier in the day and were still on track for sharp gains for the week.Pakistan has held exploratory discussions with Iran's Interior Minister Eskandar Momeni as it seeks a path towards a resumption of stalled talks between Washington and Tehran, Reuters reported, citing Pakistani sources. Islamabad recently also discussed the Middle East situation with China, according to the report.Bahrain, Jordan and Kuwait were fending off Iranian attacks again Friday, while Iran's military claimed it launched attack drones targeting US assets in Bahrain's Sheikh Isa Air Base and Jordan's Al-Azraq Air Base, CNN reported, citing local press.US Treasury yields were lower intraday, with the two-year rate down 3.4 basis points at 4.33% and the 10-year rate falling 2.8 basis points to 4.68%.In a fact sheet published Thursday, the Office of the US Trade Representative announced new tariffs of 10% or 12.5% on 60 economies that it said have failed to prohibit or effectively enforce bans on imports made with forced labor, including China, India, the UK and the European Union.The duties took effect at 12:01 am ET Friday, replacing Trump's temporary 10% global tariffs, which expired at the same time, CNBC reported.Earlier this week, Trump signed three proclamations to impose 50% tariffs on the imports of motor vehicles, alcohol and dairy products from Canada."The snap-back in oil prices, as well as another turn of the screw in tariffs, complicates the job of central bankers everywhere, and lands with a thud ahead of the (Federal Open Market Committee) meeting," BMO said in a report Friday.The probability that the US Federal Reserve will leave its benchmark lending rate unchanged next week stood at 64% Friday, down from 87% a week ago, according to the CME FedWatch tool. The odds of a quarter-percentage-point increase moved up to 36% from 13%.In economic news, US private-sector output growth reached an eight-month high in July amid services boost, though price pressures intensified due to disruptions caused by the Middle East conflict, S&P Global's (SPGI) flash purchasing managers' index showed Friday.New-home sales in the US increased last month for the first time since March as house prices continued to fall, though inventory remained elevated at more than a nine-month supply, official data showed.In corporate news, Verizon Communications (VZ) raised its full-year earnings outlook amid phone subscriber gains in the second quarter. The company's shares were up 4.1% intraday Friday.American Express (AXP) was the worst performer on the Dow, down 5.1%. The payments company's second-quarter earnings topped Wall Street's estimates, but revenue missed expectations.Gold was up 0.7% at $4,068.20 per troy ounce, while silver gained 1.3% to $58.83 per ounce.
(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes were mixed as a retreat in crude oil and government bond yields accompanied an all-sector rally midday Friday.The Dow Jones Industrial Average climbed 0.5% to 51,970.5, and the S&P 500 rose 0.4% to 7,434.8. The Nasdaq Composite was 0.1% lower at 25,112.3. Real estate, materials, and communication services topped the gainers.The front-month US West Texas Intermediate dropped 3.6% to $88.89 a barrel, and global benchmark North Sea Brent slumped 4.3% to $96.34 a barrel.The retreat has come as a relief from a surge Thursday when the Iran-aligned Houthi rebels attacked two Saudi Arabian tankers in the Red Sea chokepoint. Separately, President Donald Trump warned of a "massive attack" to continue degrading Iran's ability to attack maritime traffic in the Strait of Hormuz. The US Central Command said it completed the 13th consecutive night of strikes on Iran Thursday evening, in line with that strategic goal as well as returning Iran to negotiations in a meaningful way.The latest jump in oil prices is likely to be short-lived, a Dow Jones news report cited a Julius Baer note, referring to Brent crude surpassing the $100 mark Thursday for the first time since the US-Iran ceasefire agreement in June. Despite fresh attacks on tankers in the Red Sea and the Strait of Hormuz, the renewed fighting appears to reflect efforts by the parties to strengthen their bargaining positions ahead of another round of negotiations, the news report cited the note.Recent data showed China's oil imports during H1 slumped 11% year-on-year to 9.9 million barrels per day, according to a report from the Middle East Economic Survey. Imports from the Middle East sank by 37% to 3 million bpd, the lowest level since 2007, MEES said.Most US Treasury yields fell as a decline in crude oil helped keep a lid on inflation worries. The 10-year declined 3.8 basis points to 4.67%, retreating from its highest seen in a year on Thursday. The two-year declined 4.2 basis points to 4.32%, after yields hit fresh 52-week highs twice this week.In precious metal markets, gold futures edged up 0.5% to $4,069.2, and silver futures jumped 1.5% to $58.92.In company news, Digital Realty Trust (DLR) reported Q2 core funds from operations and operating revenue above market expectations late Thursday, and the company also raised its 2026 core FFO and sales guidance. Shares of the firm climbed nearly 14%, the top gainer on the S&P 500.American Express (AXP) Q2 earnings topped market estimates, while revenue missed expectations. Shares dropped 5.3%, the steepest decliner on the Dow.In economic news, the July flash reading of manufacturing conditions from S&P Global slipped to 53.8 from 53.9 in June, compared with the 54.4 print expected in a survey compiled by Bloomberg.New-home sales rose to a 628,000 annual rate in June from an upwardly revised 618,000 rate in May, compared with the 607,000 rate expected in a survey compiled by Bloomberg. Home sales were still down 5.6% from a year ago.
Financial stocks rose in Friday afternoon trading, with the NYSE Financial Index adding 1.1% and the State Street Financial Select Sector SPDR ETF (XLF) increasing 0.6%.The Philadelphia Housing Index gained 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 2.1%.Bitcoin (BTC-USD) was declining 1.9% to $63,849, and the yield for 10-year US Treasuries was falling 4 basis points to 4.663%.In economic news, new-home sales in the US increased last month for the first time since March as house prices continued to fall, though inventory remained elevated at more than a nine-month supply. Sales of new single-family homes increased 1.6% sequentially in June to a seasonally adjusted annual rate of 628,000, the Census Bureau and the Department of Housing and Urban Development said Friday. Analysts polled by Bloomberg expected a 607,000 print.In corporate news, Digital Realty Trust (DLR) reported Q2 core funds from operations and operating revenue above market expectations late Thursday, and the company also raised its 2026 core FFO and revenue guidance. Shares jumped past 13%.BlackRock (BLK) started marketing $12.3 billion in high-grade bonds to finance a Meta Platforms (META) data center project, Bloomberg reported. BlackRock shares rose 1.2%.American Express' (AXP) Q2 earnings topped Wall Street's estimates, but revenue missed expectations, while the company now expects full-year revenue to grow at the high end of its previous guidance range. Its shares fell 5.1%.
All three major US stock indexes were up in late-morning trading Friday as the US imposed a new set of tariffs on 60 trade partners.In a Thursday statement, the Office of the US Trade Representative announced new tariffs on 60 countries over alleged "failure to impose and effectively enforce a prohibition on the importation of goods produced with forced labor." The duties took effect at 12:01 a.m. ET Friday, replacing President Donald Trump's 10% global tariffs, which expired on the same day, MS Now reported. Countries that have committed to prohibit forced labor were hit with a 10% tariff, while those that have not committed received a rate of 12.5%.In company news, Intel (INTC) posted fiscal Q2 adjusted earnings late Thursday of $0.42 per share, swinging from a loss of $0.10 a year earlier, and surpassing the FactSet consensus analyst estimate of $0.22. Fiscal Q2 revenue was $16.13 billion, up from $12.86 billion a year ago and above the FactSet consensus of $14.44 billion. For fiscal Q3, the company expects an adjusted EPS of $0.38 on revenue of $15.8 billion to $16.8 billion. Analysts expect $0.27 and $15.08 billion, respectively. "Our (second-quarter) results represent our strongest revenue growth in more than fifteen years, enabled by greater speed, accountability, and customer focus," Chief Executive Lip-Bu Tan said. Sales for the data center and AI segment surged 59% to $6.26 billion in the second quarter, while client computing and physical AI group increased 13% to $8.88 billion. Revenue for the foundry business rose 31% to $5.77 billion. "AI-driven compute continues to strengthen, and to support expected growth this year and next across products and foundry, we are meaningfully increasing our investments in equipment, clean room space, and substrates," Chief Financial Officer Dave Zinsner said. Intel shares were down 3.5% around midday.Oracle (ORCL) has secured a 10-year enterprise software contract worth about $7 billion with the US Department of Defense, the company said late Thursday. The agreement has a base value of $3.31 billion for the first five years and an overall value of $6.99 billion if all options are exercised. The contract will allow the Department of Defense organizations and contractors to procure Oracle's commercial offerings, including on-premises software and software-as-a-service applications, according to the company. The deal enables "a more standardized and efficient path" for the agency to obtain Oracle's cloud and artificial intelligence technology to support its mission-critical objectives, the company's executive vice president of government, defense and intelligence, Kim Lynch, said. Oracle shares were down 1.3%.SpaceX (SPCX) has begun limiting future commercial bookings for its Falcon 9 rocket beyond 2028 as it shifts its long-term launch strategy toward the Starship vehicle, Bloomberg reported Thursday, citing people familiar with the matter. The company is no longer accepting future Falcon 9 launch reservations, including bookings for its rideshare program, and has stopped making certain non-reusable Falcon components. SpaceX could still use Falcon rockets for Department of Defense and NASA missions, while noting its plans could change if Starship development faces further setbacks, according to the report. SpaceX shares were down 4.5%.American Express (AXP) reported Q2 earnings Friday of $4.53 per diluted share, up from $4.08 a year earlier and above the FactSet consensus analyst estimate of $4.40. Q2 net revenue was $19.64 billion, up from $17.86 billion a year ago and below the FactSet consensus of $19.7 billion. The company maintained its full-year EPS guidance at a range of $17.30 to $17.90, and raised its revenue growth outlook to 10%. Analysts expect EPS of $17.72. Card member spending gains of 9%, increased net interest income and card fee growth boosted the top line in the second quarter. "Based on our better-than-expected performance in the first half of the year, we are raising our full-year revenue growth guidance," Chief Executive Stephen Squeri said, adding that the firm plans to invest in growth initiatives as it sees "significant" opportunities ahead. American Express shares were down 5%.Verizon Communications (VZ) reported Q2 adjusted earnings Friday of $1.30 per share, up from $1.22 a year earlier, and above the FactSet consensus estimate of $1.28. Q2 operating revenue was $34.25 billion, down from $34.50 billion a year ago and below the FactSet consensus of $35.16 billion. The company said it expects full-year adjusted EPS of $4.99 to $5.04, compared with prior outlook of $4.95 to $4.99. Analysts expect $4.98. Verizon shares were up 3.5%.Amkor Technology (AMKR) said late Thursday it has entered into a multi-year strategic partnership with Nvidia (NVDA) to develop advanced semiconductor packaging and test technologies for next-generation AI and accelerated computing platforms. According to the agreement, Nvidia will offer a prepayment to support the expansion of Amkor's US advanced packaging capacity. Amkor shares were up 0.3%, while Nvidia shares were up 0.2%.Price: $97.10, Change: $-3.13, Percent Change: -3.12%
American Express (AXP) second-quarter earnings topped Wall Street's estimates, but revenue missed expectations, while the payments company now expects full-year revenue to grow at the high end of its previous guidance range.The firm posted net income of $4.53 per share for the June quarter, up from $4.08 the year before, ahead of the FactSet-polled consensus of $4.40. Revenue, net of interest expense, advanced 10% to $19.64 billion, but trailed the Street's view for $19.7 billion.The stock fell 6% in Friday trading.Card member spending gains of 9%, increased net interest income and card fee growth boosted the top line in the second quarter, according to the company.For 2026, American Express now anticipates revenue to increase by 10%, the high end of its prior growth forecast. The Street is looking for $79.57 billion in sales for the year.Last week, RBC Capital Markets said it expects American Express' core credit performance to remain resilient, with lower net charge-off and delinquency rates than peers. The brokerage said at the time that the company's growth outlook continues to benefit from consistent activity among its premium customer base."Based on our better-than-expected performance in the first half of the year, we are raising our full-year revenue growth guidance," Chief Executive Stephen Squeri said Friday. The firm plans to invest in growth initiatives as it sees "significant" opportunities ahead, Squeri added.American Express continues to project EPS to come in between $17.30 and $17.90 for 2026. The current average analyst estimate on FactSet is for $17.64.Revenue in the US consumer services segment climbed 11% to $9.52 billion, while international card services inclined 12% to $3.62 billion. Commercial services rose 7% to $4.5 billion, while global merchant and network services moved 8% higher to $2.1 billion.Provisions for credit losses totaled $1.08 billion in the quarter, down from $1.41 billion in the 2025 quarter, reflecting a reserve release versus a reserve build last year, partially offset by higher net write-offs, the company said.Price: $321.64, Change: $-19.21, Percent Change: -5.63%
Financial stocks were advancing premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.3% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1% lower.American Express (AXP) reported higher Q2 earnings and net revenue, with net revenue missing analysts' expectations. American Express stock was down more than 4% pre-bell.HSBC Holdings (HSBC) agreed to sell its HSBC Life (Singapore) insurance business to Allianz Asia Holdings for 2.70 billion Singaporean dollars ($2.09 billion). Shares of HSBC Holdings were up more than 1% premarket.Safety Insurance (SAFT) stock was up more than 41% after the company said it has entered an agreement to be acquired by an affiliate of Mapfre in a $1.54 billion all-cash deal.
Financial stocks were advancing premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.3% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1% lower.American Express (AXP) reported higher Q2 earnings and net revenue, with net revenue missing analysts' expectations. American Express stock was down more than 4% pre-bell.
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures nudged higher pre-bell Friday as traders weighed a new set of tariffs imposed by the US on its trading partners and a decline in oil prices.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.2% higher.The US has imposed new tariffs on 60 trading partners over alleged forced labor concerns. Countries that have committed to prohibit forced labor were hit with a 10% tariff, while those that have not committed will receive a rate of 12.5%.President Donald Trump is seriously considering a "massive attack" on Iran, but has not given a deadline for his decision, according to an Axios report Thursday. He said that Iran "wants to negotiate," but he does not currently want to make a deal.US forces completed the 13th straight round of attacks on Iran, US Central Command said in a post on X, adding that the Strait of Hormuz "remains open for transit" despite the recent attacks from Iran's Islamic Revolutionary Guard Corps.Traders also digested the latest round of earnings, with American Express (AXP) posting higher Q2 earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3.4% at $97.27 per barrel and US West Texas Intermediate crude 3.3% lower at $89.20 per barrel.The July S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen at 54.4, up from 53.9 previously, according to estimates compiled by Bloomberg. June new home sales, due at 10 am ET, are seen at a 607,000 annual rate, up from 580,000 previously.In other world markets, Japan's Nikkei closed 2.7% lower, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 1.6% lower. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 0.9% higher in Europe's early afternoon session.In equities, Intel (INTC) stock rose 3.4% after the company reported a Q2 beat for adjusted earnings and its strongest revenue growth in 15 years, driven by a 59% surge in the data center and artificial intelligence unit. Oracle (ORCL) shares were up 2.3% after the company secured a 10-year enterprise software contract worth about $7 billion from the US Department of Defense. Amkor Technology (AMKR) stock was 12% higher after the company said it entered into a multi-year strategic partnership with Nvidia (NVDA) to develop advanced semiconductor packaging and test technologies for next-generation AI and accelerated computing platforms.On the losing side, American Express shares dropped 3.8% after the company reported lower-than-expected Q2 net revenue. Verizon Communications (VZ) stock was down 1.7% after the company posted Q2 operating revenue that fell short of analysts' consensus estimates. Sanofi (SNY) shares fell 1.4% after the company said it stopped clinical testing and global regulatory applications for its amlitelimab medication treating moderate-to-severe atopic dermatitis.
US equity futures nudged higher pre-bell Friday as traders weighed a new set of tariffs imposed by the US on its trading partners and a decline in oil prices.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were flat.The US has imposed new tariffs on 60 trading partners over alleged forced labor concerns. Countries that have committed to prohibit forced labor were hit with a 10% tariff, while those that have not committed will receive a rate of 12.5%.President Donald Trump is seriously considering a "massive attack" on Iran, but has not given a deadline for his decision, according to an Axios report Thursday. He said that Iran "wants to negotiate," but he does not currently want to make a deal.US forces completed the 13th straight round of attacks on Iran, US Central Command said in a post on X, adding that the Strait of Hormuz "remains open for transit" despite the recent attacks from Iran's Islamic Revolutionary Guard Corps.Traders also digested the latest round of earnings, with American Express (AXP) posting higher Q2 earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.8% at $97.87 per barrel and US West Texas Intermediate crude 2.4% lower at $90.01 per barrel.The July S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen at 54.4, up from 53.9 previously, according to estimates compiled by Bloomberg. June new home sales, due at 10 am ET, are seen at a 607,000 annual rate, up from 580,000 previously.
The benchmark US stock measures were trending higher before the open Friday as investors assess Washington's new phase of global tariffs and the latest developments in the Middle East.The S&P 500 and the Nasdaq gained 0.2% each in premarket activity, while the Dow Jones Industrial Average added 0.5%. The indexes ended the previous trading session lower, with the Nasdaq and S&P 500 recording their biggest one-day declines since June 23.In a fact sheet published on Thursday, the Office of the US Trade Representative announced new tariffs of 10% or 12.5% on 60 economies that it said have failed to prohibit or effectively enforce bans on imports made with forced labor, including China, India, the UK and the European Union.The duties took effect at 12:01 a.m. ET Friday, replacing President Donald Trump's temporary 10% global tariffs, which expired at the same time, CNBC reported.Earlier this week, Trump signed three proclamations to impose 50% tariffs on the imports of motor vehicles, alcohol and dairy products from Canada.West Texas Intermediate crude oil dropped 3.5% to $88.99 a barrel before the opening bell, while Brent fell 3.6% to $97.13.Trump told Axios on Thursday that he is seriously considering restarting major combat operations against Iran. The US Central Command said it completed its 13th consecutive night of strikes against Tehran on Thursday.The Iran-backed Houthi militants in Yemen recently claimed attacks on two Saudi Arabian oil tankers in the Red Sea, sparking concerns over a potential closure of the Bab el-Mandeb Strait, an alternate shipping route to the Strait of Hormuz.In a social media post, Trump said the US will hold Iran responsible and threatened "major military punishment" if its Houthi proxies continued to attack commercial ships.Treasury yields were down in premarket action, with the two-year rate retreating 3.4 basis points to 4.33% and the 10-year rate off 2 basis points to 4.68%."Rising oil prices have revived talk of a (Federal Reserve) rate hike, with rates markets now beginning to treat next week's (Federal Open Market Committee) meeting as a live decision after the 10-year yield pushed back toward its year-to-date high," Saxo Bank said in a report Thursday.The probability that the Fed will leave its benchmark lending rate unchanged next week stood at 71% on Friday, up from 66% the day before, according to the CME FedWatch tool. The odds of a quarter-percentage-point increase moved down to 29% from 34%.Shares of Intel (INTC) advanced 5.3% pre-bell after the chipmaker reported second-quarter results ahead of Wall Street's estimates. Oracle (ORCL) inclined 2.6% as the cloud computing giant secured a 10-year enterprise software contract worth nearly $7 billion with the US Department of War.American Express (AXP), Verizon Communications (VZ), HCA Healthcare (HCA), SLB (SLB), Charter Communications (CHTR), Booz Allen Hamilton (BAH) and Lamb Weston (LW) report their latest financial results before the bell, among others.Friday's economic calendar has the S&P Global's (SPGI) flash purchasing managers' index for July at 9:45 am ET, followed by the new home sales report for June at 10 am. The weekly Baker Hughes oil-and-gas rig count is out at 1 pm.Gold nudged up 0.3% to $4,061 per troy ounce, while bitcoin increased 0.2% to $64,949.
American Express (AXP) and Bottomline have agreed to a partnership that will see Bottomline's Paymode integrated into American Express Buyer Initiated Payments, its B2B payment platform, through a new feature called BIP Connect, Bottomline said Tuesday.The integration will provide eligible American Express BIP customers with authenticated payments backed by Paymode's multi-layer fraud controls and seamless access to Paymode's vendor network, according to Bottomline.Financial details related to the partnership were not disclosed.Price: $348.90, Change: $-2.97, Percent Change: -0.84%
(Updates with market moves at the end of the day.)Stocks on Wall Street ended Monday's choppy trade lower as markets awaited more earnings releases this week and kept an eye on developments in the Middle East.The Dow Jones Industrial Average fell 0.6% to 51,839.26, while the S&P 500 declined 0.2% to settle at 7,443.28. The Nasdaq Composite dipped 0.1% to 25,508.07. Most sectors were in the red, led by healthcare, while communication services saw the biggest gain.This week, 86 S&P 500 companies are scheduled to release their latest quarterly financial results, Oppenheimer Asset Management said in a note. Google parent Alphabet (GOOG, GOOGL) and electric vehicle maker Tesla (TSLA) -- which are two of the so-called Magnificent 7 stocks -- are slated to report Wednesday.Intel, Philip Morris International (PM), American Express (AXP), T-Mobile US (TMUS), IBM (IBM), AT&T (T) and Verizon Communications (VZ) are among other major names expected to report this week."The reporting calendar is shifting beyond the first wave of money-center banks toward large tech, industrial and consumer names," Tigress Financial said in a note Monday. "The narrative will increasingly focus on whether (artificial intelligence) platforms, cloud providers and key cyclicals can match the strong bank prints without sparking renewed worries about margins or demand."West Texas Intermediate crude oil was up 0.6% at $82.97 a barrel in Monday late-afternoon trade, while Brent rose 0.9% to $88.88.On Sunday, the US Central Command said it completed the ninth consecutive evening of strikes against Iran. The US confirmed the passing of at least three service members during recent fighting with Iran.President Donald Trump said Monday that "every time Iran kills an American soldier they will pay for that killing many times over."Iran could resume negotiations with the US based on national interests, CNBC reported, citing Tehran's foreign ministry spokesman Esmail Baghaei. US intermediaries had continued to exchange messages with Iran, Baghaei reportedly said."If this escalation goes unchecked, we could return to an environment of wide-scale attacks across the Persian Gulf," ING Bank said in a report Monday. "Vessel flows (in the Strait of Hormuz) have essentially ground to a halt."US Treasury yields were higher, with the 10-year rate up 5.5 basis points at 4.6% and the two-year rate rising 3.9 basis points to 4.21%.In company news, Magnolia Oil & Gas (MGY) agreed to acquire privately held WildFire Energy in a roughly $4.06 billion deal, including debt, that will give it a dominant position in the Giddings field in South Texas. Magnolia Oil shares slumped 6.4%.Gold edged down 0.2% to $4,010.30 per troy ounce, while silver advanced 0.5% to $56.62 per ounce.
US benchmark equity indexes were mostly higher intraday Monday as key chipmakers advanced, while traders awaited earnings of some major companies due later in the week.The Nasdaq Composite was up 0.4% at 25,633.1 after midday, while the S&P 500 rose 0.2% to 7,468.7. The Dow Jones Industrial Average fell 0.4% to 51,950.7. Most sectors were in the red, led by materials and consumer staples, while energy paced the gainers.Shares of chipmaking giant Intel (INTC) rose 3.8%, while Nvidia (NVDA), Micron Technology (MU) and Advanced Micro Devices (AMD) were also pointing higher.This week, 86 S&P 500 companies are scheduled to release their latest quarterly financial results, Oppenheimer Asset Management said in a note. Google parent Alphabet (GOOG, GOOGL) and electric vehicle maker Tesla (TSLA) -- which are two of the so-called Magnificent 7 stocks -- are slated to report Wednesday.Intel, Philip Morris International (PM), American Express (AXP), T-Mobile US (TMUS), IBM (IBM), AT&T (T) and Verizon Communications (VZ) are among other major names expected to report this week."The reporting calendar is shifting beyond the first wave of money-center banks toward large tech, industrial and consumer names," Tigress Financial said in a note Monday. "The narrative will increasingly focus on whether (artificial intelligence) platforms, cloud providers and key cyclicals can match the strong bank prints without sparking renewed worries about margins or demand."West Texas Intermediate crude oil was up 0.1% at $82.58 a barrel intraday, while Brent rose 0.5% to $88.55.Iran could resume negotiations with the US based on national interests, CNBC reported, citing Tehran's foreign ministry spokesman Esmail Baghaei. US intermediaries had continued to exchange messages with Iran, Baghaei reportedly said.Amid soaring tensions with Iran, the US is looking to send additional F-16 and F-35 fighter jets from bases in Europe, as well as additional aerial refueling tankers, to the Middle East, CNN reported, citing a US official.On Sunday, the US Central Command said it completed its ninth consecutive evening of strikes against Iran. The US military also confirmed the passing of three service members in the past few days."If this escalation goes unchecked, we could return to an environment of wide-scale attacks across the Persian Gulf," ING Bank said in a report Monday. "Vessel flows (in the Strait of Hormuz) have essentially ground to a halt."US Treasury yields were higher intraday, with the 10-year rate up 6.3 basis points at 4.6% and the two-year rate rising 5.5 basis points to 4.23%.In company news, Magnolia Oil & Gas (MGY) agreed to acquire privately held WildFire Energy in a roughly $4.06 billion deal, including debt, that will give it a dominant position in the Giddings field in South Texas. Magnolia Oil shares were down 5.7% intraday.Gold edged down 0.1% to $4,015.10 per troy ounce, while silver advanced 1.4% to $57.11 per ounce.
Quarterly results of an initial batch of S&P 500 companies show that earnings growth so far is tracking at more than double the expected pace, according to an Oppenheimer Asset Management report released Monday.Some 47 companies, or less than 10% of the large-cap index' constituents, have reported financial results in the current cycle, with earnings and revenue up around 52% and 16% year over year, respectively, the report showed.Ahead of the reporting season, FactSet put expected earnings growth at 23.6% from a year earlier, according to Oppenheimer."The (second-quarter) earnings season got off to a solid start last week," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said, highlighting "outsized" results particularly among technology and financial companies.The technology sector so far led earnings growth among the 11 sectors, with results from five companies showing a nearly 243% surge in profits year over year, the report showed. The financial sector followed with a 38% increase.Technology also outshined in terms of revenue with a 67% jump so far, followed again by financials, which saw an increase of 18%.This week, 86 S&P 500 companies are scheduled to release their latest quarterly financials, according to Oppenheimer. Two of the so-called Magnificent 7 -- Alphabet (GOOG, GOOGL) and Tesla (TSLA) -- report after the markets close Wednesday.Also releasing their quarterly results this week are Intel (INTC), Philip Morris International (PM), RTX (RTX), T-Mobile US (TMUS), American Express (AXP), International Business Machines (IBM), AT&T (T), and NextEra Energy (NEE)."We continue to expect good results for S&P 500 earnings this reporting season as fundamentals remain in our view conducive to continued economic growth that should be supportive of revenue and earnings growth going forward," Stoltzfus said.Price: $356.94, Change: $+10.82, Percent Change: +3.13%
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Monday as traders monitored the latest developments in the Middle East conflict and look forward to earnings from several tech giants this week.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.9% higher.US Central Command said in a post on X that it successfully completed a ninth consecutive evening of strikes against Iran in a continuing effort to diminish its ability to attack commercial vessels transiting the Strait of Hormuz.Despite the constant exchange of attacks between both sides, Iran's Foreign Ministry spokesman Esmail Baghaei said that negotiations with the US could be pursued based on national interests.Alphabet (GOOG, GOOGL), Tesla (TSLA), Intel (INTC), and Texas Instruments (TXN) are set to release their financial results this week. Anticipated earnings also include GE Vernova (GEV), Philip Morris International (PM), RTX (RTX),and American Express (AXP).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.5% at $88.52 per barrel and US West Texas Intermediate crude 0.1% higher at $81.88 per barrel.June's leading indicators data is scheduled to be released 10 am ET.In other world markets, Hong Kong's Hang Seng ended 2.4% higher and China's Shanghai Composite finished 0.9% higher. Japan's Nikkei was closed due to a public holiday. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.In equities, semiconductor stocks, including Micron Technology (MU), SK Hynix (SKHY), and AMD (AMD), were up in premarket activity. Micron Technology shares rose 4.8%, SK Hynix stock was up 5.3%, and AMD shares were 3.9% higher. Domino's Pizza (DPZ) stock was up 6.7% after the company reported higher fiscal Q2 earnings and revenue.On the losing side, Ryanair (RYAAY) stock was down 2.5% after the company posted fiscal Q1 earnings and revenue that missed analysts' consensus estimates.
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