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Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Rise Sharply in Tuesday Trading

Asian equities traded in the US as American depositary receipts were surging higher Tuesday morning, rising 1.94% to 2,917.79 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by semiconductor companies ASE Technology (ASX) and Silicon Motion Technology (SIMO), which climbed 8% and 6.6% respectively. They were followed by semiconductor company Himax Technologies (HIMX) and fintech firm Jiayin Group (JFIN), which advanced 6.4% and 4.2% respectively.The decliners from North Asia were led by online game developer The9 (NCTY) and tech company Alibaba Group (BABA), which fell 3.2% and 1.7% respectively. They were followed by streaming music service Tencent Music Entertainment Group (TME) and education company 17 Education & Technology Group (YQ), which increased 1.5% and 1.4% respectively.From South Asia, the gainers were led by computer hardware maker Canaan (CAN) and IT firm Sify Technologies (SIFY), which rose 6.2% and 2.2% respectively. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK) and lender HDFC Bank (HDB), which were up 1% and 0.8% respectively.The decliners from South Asia were led by fintech company Trident Digital Tech (TDTH) and IT firm Infosys (INFY), which dropped 2.9% and 0.8% respectively. They were followed by pharmaceutical company Dr. Reddy's Laboratories (RDY) and telecommunications operator PLDT (PHI), which were off 0.6% and 0.3% respectively.

$ASX$BABA$CAN$HDB$HIMX$INFY$JFIN$NCTY$PHI$RDY$SIFY$SIMO$TDTH$TLK$TME$YQ
Wire

Top Midday Stories: Brookfield, CPP Investments to Acquire LXP; Google Working on New Server Chip

The Dow Jones Industrial Average was down, while the S&P 500 and Nasdaq Composite were up, as chipmakers traded higher to kick off the week.In company news, Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board agreed to acquire LXP Industrial Trust (LXP) in an all-cash deal valued at around $5.2 billion, including net debt and preferred equity, LXP said Monday. Under the terms of the transaction, which is expected to close in Q4, LXP shareholders will receive $61.20 per share in cash. Brookfield shares were down 1.3% around midday, while LXP shares were up 4.2%.Alphabet's (GOOG, GOOGL) Google is working on a new server chip that will allow it to serve its AI models to users more efficiently, The Information reported Monday, citing two people with direct knowledge of the matter. Google plans to use the new chip to help address shortages in AI computing capacity, as the tech giant's workers project it could be 6 to 10 times more efficient than the latest version of its existing line of homegrown AI chips when it launches, the report said, citing the people. Google Class C shares were up 3.1%, while its Class A shares were up 3.0%.SpaceX (SPCX) said Sunday that it is preparing to launch the 13th flight test of Starship as early as Thursday. SpaceX shares were down 1.0%.Alibaba Group's (BABA) AliExpress unit was fined 550 million euros ($628.9 million) by the European Commission for failing to comply with the Digital Services Act, the European Commission said Monday. The EC penalized the web platform for failing to diligently assess and mitigate risks tied to the sale of counterfeit and hazardous items, it said. Alibaba shares were up 4.4%.Bristol-Myers Squibb (BMY) said Monday that it is expanding its partnership with Nvidia (NVDA) to build an AI factory dedicated to pharmaceutical research and development. Financial terms of the deal were not disclosed. Bristol shares were up 0.1%, while Nvidia shares were up 1.7%.Price: $47.71, Change: $-0.62, Percent Change: -1.28%

$BABA$BAM$BMY$GOOG$GOOGL$LXP$NVDA$SPCX
Sectors

Sector Update: Tech Stocks Advance Premarket Monday

Technology stocks were advancing premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) advancing by 1.1% and the State Street SPDR S&P Semiconductor ETF (XSD) up 1.6%.Taiwan Semiconductor Manufacturing (TSM) is accelerating the expansion of its Arizona chip manufacturing operations to capitalize on a multi-year artificial intelligence demand trend, Chief Financial Officer Wendell Huang said in an interview with CNBC. Shares of Taiwan Semiconductor Manufacturing were up more than 2% pre-bell.Alibaba Group (BABA) stock was up more than 3% after the company said it will soon release the open-weight version of its new Qwen3.8 artificial intelligence model.Meta Platforms (META) is set to go on trial in Tennessee on Monday over allegations that it violated the state's consumer protection law by knowingly designing Instagram in a way that drives teens to compulsive use and misleading the public about its safety, Reuters reported. Shares of Meta Platforms were 0.1% higher pre-bell.

$BABA$META$TSM$XLK$XSD
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Monday Ahead of Key Earnings Reports

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5%, and the actively traded Invesco QQQ Trust (QQQ) advanced 1% in Monday's premarket activity, ahead of a pivotal week for corporate earnings.US stock futures were mixed, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.7% before the start of regular trading.The index of leading economic indicators for June will be released at 10:00 am ET.In premarket action, bitcoin was down by 0.5%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.2% higher, Ether ETF (EETH) advanced 1.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.5% lower.Hut 8 (HUT) shares traded up 13% in early hours activity after the company said it has signed a second 15-year lease worth $9.8 billion for 352 megawatts of IT capacity at its Beacon Point data center campus in Nueces County, Texas, fully commercializing the site's 1-gigawatt utility capacity.Winners and Losers:EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.3%.Fervo Energy Company (FRVO) stock was up more than 5% before market open after Jefferies upgraded the company to buy from hold.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.3%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.4%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was up 0.3%.Alibaba Group (BABA) shares were up more than 3% pre-bell after a 2% fall at Friday's close. Reuters reported Monday that Alibaba-backed Moonshot AI temporarily paused new subscriptions as high demand for its recent Kimi K3 model overloaded capacity.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.6%, while the Vanguard Industrials Index Fund (VIS) was up 1.1% and the iShares US Industrials ETF (IYJ) was inactive.Elbit Systems' (ESLT) stock was up more than 2% before the opening bell after the company said its Elbit Systems of America unit received multiple contract awards worth more than $370 million from US Customs and Border Protection to enhance US national security.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1%, and the iShares US Technology ETF (IYW) was 1.3% higher, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was up 1.9%, while the iShares Semiconductor ETF (SOXX) rose by 2.4%.Taiwan Semiconductor Manufacturing (TSM) shares were up more than 2% in premarket activity after Chief Financial Officer Wendell Huang said in a Sunday interview with CNBC that the company is accelerating the expansion of its Arizona chip manufacturing operations to capitalize on a multi-year artificial intelligence demand trend.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.01%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 0.3% higher.OKYO Pharma (OKYO) stock was up more than 1% premarket after the company said its cash position of around $20.6 million as of the end of March enables completion of a 111-patient phase 3 trial of its lead candidate, urcosimod, for the potential treatment of neuropathic corneal pain.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.5% to $82.12 per barrel on the New York Mercantile Exchange. Natural gas was down by 1.2% to $2.88 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 0.5%, while the United States Natural Gas Fund (UNG) was 0.7% lower.Gold futures for July retreated 0.1% to $4,015.20 an ounce on the Comex. Silver futures were up 1.2% to $57.01 an ounce. SPDR Gold Shares (GLD) decreased 0.2%, and the iShares Silver Trust (SLV) was 1.1% higher.

Dow JonesNasdaq CompositeS&P 500$BABA$BETH$BITO$EEM$EETH$ESLT$EXI$FAS$FAZ$FRVO$GLD$HUT$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$OKYO$PMR$QQQ$RTH$SLV$SOXX$SPY$TSM$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Stocks Rise Pre-Bell as Traders Await Latest Batch of Earnings, Monitor Middle East Developments
US Markets

Stocks Rise Pre-Bell as Traders Await Latest Batch of Earnings, Monitor Middle East Developments

The benchmark US stock measures were pointing higher before the opening bell Monday as investors await earnings from several major companies this week and monitor developments in the Middle East.The S&P 500 and the Dow Jones Industrial Average rose 0.3% each in premarket activity, while the Nasdaq added 0.6%. The indexes finished Friday's trading session lower.Alphabet (GOOG, GOOGL) and electric vehicle manufacturer Tesla (TSLA) are scheduled to release their quarterly earnings after the markets close Wednesday. Intel (INTC), Philip Morris International (PM), American Express (AXP), T-Mobile US (TMUS), International Business Machines (IBM), AT&T (T) and Verizon Communications (VZ) are also expected to post their results this week.Shares of Domino's Pizza (DPZ) spiked 7.1% pre-bell as the pizza restaurant chain reported better-than-expected fiscal second-quarter revenue. Alibaba's (BABA) US-listed stock rebounded 3.4% after closing Friday down 2.1%.West Texas Intermediate crude oil edged down 0.8% to $81.87 a barrel before the open, while Brent slipped 0.1% to $88.05.Iran's foreign ministry spokesman Esmail Baghaei said that Tehran could resume negotiations with the US based on national interests, CNBC reported. Baghaei told reporters that US intermediaries had continued to exchange messages with Iran.The US Central Command said Sunday its forces completed their ninth consecutive evening of strikes against Iran. In a separate statement, CENTCOM confirmed the passing of three US service members, while a missing fourth member's remains were found in Jordan."Energy and refined fuel flows through the Strait of Hormuz continues to slow amid the escalating conflict between the US and Iran," Saxo Bank said in a Friday report. "The renewed disruption has interrupted the recent recovery in regional supply, reviving concerns about tighter global markets."Treasury yields were trending upwards in premarket action, with the two-year rate increasing 1.5 basis points to 4.19% and the 10-year rate gaining 2.1 basis points to 4.56%.Consumer sentiment this month hit its highest level since February amid easing price pressures at the pump, though renewed tensions in the Middle East could weigh on confidence going forward, according to a survey released Friday by the University of Michigan.Gold nudged up 0.2% to $4,026 per troy ounce, while bitcoin decreased 0.3% to $64,234.

Dow JonesNasdaq CompositeS&P 500$AXP$BABA$DPZ$GOOG$GOOGL$IBM$INTC$PM$T$TMUS$TSLA$VZ
Wire

Alibaba Group Unit Fined $628.9 Million Over EU Online Safety Breaches

Alibaba Group's (BABA) AliExpress unit was fined 550 million euros ($628.9 million) by the European Commission for failing to comply with the Digital Services Act, the European Commission said Monday.The regulatory agency penalized the web platform because it failed to diligently assess and mitigate risks tied to the sale of counterfeit and hazardous items, the EC said.Deficient screening and insufficient staffing for compliance and moderation checks allowed merchants to easily circumvent product-compliance categories, the regulator said.The company has a deadline of Oct. 20 to present a formal operational plan outlining steps to fix these compliance gaps, the agency said.Shares of the company were up 4% in Monday premarket trading.

$BABA
Sectors

Sector Update: Tech Stocks Mixed Friday Afternoon

Tech stocks were mixed Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) rising 0.2%.The Philadelphia Semiconductor index was fractionally higher.In corporate news, Meta Platforms (META) is in talks to rent out computing power from its data centers to Anthropic in a deal that could be worth up to $10 billion over two years, The New York Times reported. Separately, Meta has hired Dave Brown, a senior executive at Amazon (AMZN) Web Services, to help with its data center expansion and computing infrastructure ambitions, the Wall Street Journal reported. Meta shares were down 2%.Apple (AAPL) is in early discussions with the US Justice Department regarding the settlement of a 2024 lawsuit alleging the tech giant violated antitrust laws, Bloomberg reported. Separately, Apple has sent personal legal warnings to dozens of former employees now working at Microsoft-backed (MSFT) OpenAI to find proof that the AI company stole its trade secrets, the Financial Times reported. Apple shares were shedding 1%.ASML (ASML) will give its workers globally a one-time 20,000 euro ($22,862) bonus, as AI demand boosts sales, Bloomberg reported, citing an emailed statement. The company plans to give employees a share award on Jan. 1 that begins vesting at the start of 2030 for workers who stay with the company for the entire period, the report said, citing the statement. ASML shares were fractionally higher.Alibaba-backed (BABA) Moonshot said Thursday that it is launching Kimi K3, a 2.8 trillion-parameter open-source AI model with a 1 million-token context window, describing it as the world's first open 3T-class model. Alibaba shares were declining 1.6%.

$AAPL$ASML$BABA$META
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
Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Rise in Friday Trading

Asian equities traded in the US as American depositary receipts were higher on Friday morning, up 0.6% to 2,936.67 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by financial group KB Financial (KB) and cloud services provider Kingsoft Cloud (KC), which jumped 6.7% and 5.6%, respectively.They were followed by tech giant Alibaba (BABA) and e-commerce company JD.com (JD), which climbed 3.3% and 2.6%, respectively.The decliners from North Asia were led by consumer finance platform LexinFintech (LX) and fintech company Qfin (QFIN), which fell 8.5% and 6.1%, respectively.They were followed by semiconductor companies ASE Technology (ASX) and United Microelectronics (UMC), which dropped 3.1% and 3%, respectively.From South Asia, the gainers were led by tech conglomerate Sea (SE) and computer hardware maker Canaan (CAN), which gained 5.4% and 4.5%, respectively.The decliners from South Asia were led by IT service management company Trident Digital Tech (TDTH), which fell past 10%, followed by pharmaceutical company Dr Reddy's Laboratories (RDY), which shed 5.2%.

$ASX$BABA$CAN$JD$KB$KC$LX$QFIN$RDY$SE$TDTH$UMC
Wire

Market Chatter: PrismML Runs 27-Billion-Parameter AI Model on iPhone

Startup PrismML has gotten an artificial intelligence model running on an Apple (AAPL) iPhone 17 Pro that is larger than any previous mobile model, The Information reported Thursday, citing the company.PrismML compressed Qwen 3.6, an open-source large language model with 27 billion parameters from Alibaba (BABA), to less than 4 gigabytes from around 54, the report said.The model is capable of complex chat, reasoning, autonomous agents and software coding, and will be available for open-source download next week, according to the report.Apple has held meetings with PrismML about potential uses of its technology as part of the iPhone maker's broader search for acquisitions to expand on-device AI capabilities, The Information reported, citing people familiar with the talks.PrismML did not immediately respond 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: $314.60, Change: $+1.21, Percent Change: +0.38%

$AAPL$BABA
Update: Dow Logs Worst Day in 4 Weeks Amid Renewed US-Iran Tensions
US Markets

Update: Dow Logs Worst Day in 4 Weeks Amid Renewed US-Iran Tensions

(Updates with market moves at the end of the day and latest developments.)The Dow Jones Industrial Average logged its sharpest single-day decline in four weeks in a mixed session on Wednesday, as oil prices rallied after President Donald Trump warned of additional attacks on Iran.The Dow fell 1.1% to 52,348.4, its biggest percentage fall since June 10. The S&P 500 declined 0.3% to 7,482.7, while the Nasdaq Composite edged up 0.2% to 25,870.7. Barring energy and technology, all sectors were in the red led by materials.West Texas Intermediate crude oil was up 5.1% at $74.01 per barrel in Wednesday late-afternoon trade, while Brent jumped 5.8% to $78.46.During a North Atlantic Treaty Organization summit in Turkey on Wednesday, Trump said the memorandum of understanding signed with Iran last month to end the war in the Middle East was "over."The US struck Iran on Tuesday after Tehran attacked three tankers that crossed the Strait of Hormuz. Iran's Islamic Revolutionary Guard Corps hit US military targets across Bahrain and Kuwait in retaliation to Washington's attacks, CNN reported.Trump warned of more attacks on Iran."We hit them very hard last night," Trump said in Turkey. "We'll probably hit them hard again tonight."A peace deal between the US and Iran is a key risk to watch in the second half of 2026 as energy prices may determine inflation expectations, Oxford Economics Chief Global Economist Ryan Sweet said in remarks emailed to."If the peace deal breaks, and it's too early to tell, it won't just raise oil prices; it would also increase pressure on (artificial intelligence) supply chains in Asia, force central banks to be hawkish, tighten financial conditions, and could shift the outcome of the US midterms," Sweet said. "The cascade runs fast."US Treasury yields were higher, with the two-year rate increasing 4.4 basis points to 4.21% and the 10-year rate adding 4.2 basis points to 4.57%.Federal Reserve officials held diverging views last month on the appropriate path of interest rates, minutes from the central bank's June policy meeting showed Wednesday. At that meeting, the Federal Open Market Committee unanimously decided to maintain the policy rate steady for the fourth consecutive time."The June minutes put the focus on an uncertain balance of risks," TD Economics said in a report. "Participants agreed on holding rates steady in June, but not on whether the next move is more likely to be up or down, making future meetings more 'live' and dependent on incoming data."The International Monetary Fund lowered global economic growth expectations for 2026 as the impact of the Middle East war will likely counter a boost from rising artificial intelligence adoption.In company news, Apple (AAPL) said Wednesday that Broadcom (AVGO) will produce chips to be used in the iPhone maker' products in a deal likely worth more than $30 billion. Shares of Apple rose 0.9%, among the biggest gainers on the Dow, while Broadcom advanced 4.8%.Nvidia (NVDA) shares advanced 3.7%, the best performer on the Dow.Alibaba Group (BABA), ByteDance, and DeepSeek could receive permission from China to purchase a limited volume of Nvidia H200 chips to offset a shortage due to increasing demand for artificial intelligence chips, The Information reported Wednesday, citing sources with knowledge of the matter.Moderna (MRNA) slumped 7.5%, the second-worst performer on the S&P 500.Major US biopharmaceutical companies' performance in the second half of the year is likely to be driven largely by fundamentals as the focus shifts away from economic factors, Morgan Stanley said in a note.Gold shed 1.7% to $4,087.30 per troy ounce, while silver lost 4.2% to $58.75 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AVGO$BABA$MRNA$NVDA
Japan

US Equity Markets Mixed After Trump Warns of Additional Strikes on Iran

US equity indexes closed mixed Wednesday after President Donald Trump warned of more strikes on Iran, though he said it wouldn't amount to a full-scale war, softening earlier comments suggesting the ceasefire with Tehran "is over."* Trump threatened Wednesday to unleash additional military strikes against Iran after saying Tehran's attacks on commercial ships signaled the end of the ceasefire, the Associated Press reported. He later said the most recent exchange of fire did not herald a return to full-scale war.* According to minutes released from Kevin Warsh's first meeting as Federal Reserve chairman in mid-June, policymakers are sharply divided on the future path of interest rates. Some anticipate that cooling inflation may allow cuts, while others warn that persistent price pressures might spur increases.* August West Texas Intermediate crude oil rose $3.78 to settle at $74.22 per barrel, while September Brent crude, the global benchmark, was last seen up $4.55 at $78.71.* Alibaba (BABA), ByteDance, and DeepSeek may receive permission from China to buy a limited volume of Nvidia (NVDA) H200 chips to offset a shortage of AI chips, The Information reported. Nvidia shares rose 3.7%, the biggest gain on the Dow Jones Industrial Average.* Major US biopharmaceutical companies' H2 performance is likely to be driven largely by fundamentals as the focus shifts away from economic factors, Morgan Stanley said. Moderna's (MRNA) shares slumped 7.5%, the second-biggest drop on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$BABA$MRNA$NVDA
Sectors

Sector Update: Tech

Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 1% and the State Street SPDR S&P Semiconductor ETF (XSD) rising 2.3%.The Philadelphia Semiconductor index climbed 2.2%.In corporate news, Alibaba (BABA), ByteDance, and DeepSeek may receive permission from China to buy a limited volume of Nvidia (NVDA) H200 chips to offset a shortage due to increasing demand for AI chips, The Information reported. Nvidia shares rose 3.8%.

$BABA$NVDA
Wire

Market Chatter: China to Allow Select AI Companies to Purchase Nvidia H200 Chips

Alibaba Group (BABA), ByteDance, and DeepSeek could receive permission from China to purchase a limited volume of Nvidia (NVDA) H200 chips to offset a shortage due to increasing demand for artificial intelligence chips, The Information reported Wednesday, citing sources with knowledge of the matter.The Chinese government plans to allow the biggest AI companies to utilize the processors solely for model training on public data rather than sensitive customer information, according to the report.Chinese authorities are still finalizing the precise allocation, which may total fewer than 200,000 chips, less than half of what the companies requested earlier this year, the media outlet reported.Nvidia, Alibaba, ByteDance, and DeepSeek did not immediately respond to' requests 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: $108.68, Change: $+10.54, Percent Change: +10.74%

$BABA
Wire

Top Midday Stories: Trump Says US May Attack Iran Again; Apple Signs $30 Billion Deal With Broadcom for US-Made Chips

All three major US stock indexes were down in late-morning trading Wednesday, as hostilities re-escalated in the Middle East, sending oil prices surging and raising the risk of a return to all-out war between the US and Iran.President Donald Trump said the US may attack Iran again on Wednesday, Bloomberg reported. The US military had struck Iranian targets in response to Iran's attacks on three commercial ships transiting the Strait of Hormuz, which elicited retaliation on US military sites in Bahrain and Kuwait. President Donald Trump said the ceasefire with Iran was "over" during a news conference at a NATO summit in Ankara, Turkey.In company news, Apple (AAPL) said Wednesday that Broadcom (AVGO) will produce chips to be used in its products in a deal likely worth more than $30 billion. Broadcom will manufacture more than 15 billion chips in the US, Apple said. The deal will allow Broadcom to invest $1.5 billion to expand its manufacturing facilities in Fort Collins, Colorado. Apple shares were marginally lower, while Broadcom shares were up 4.1% around midday.Jeff Bezos' Blue Origin is raising about $10 billion in its first external funding round, valuing the rocket company at about $130 billion, multiple news outlets reported on Wednesday. The reports said Bezos is expected to invest $2 billion, while Coatue Management plans to contribute about $4 billion. The remaining $4 billion has attracted strong investor demand and is expected to come from several major investors, CNBC reported.Amazon.com-backed (AMZN) Anthropic's Claude Code was flagged by China's National Vulnerability Database over an alleged security "backdoor" risk in versions 2.1.91 through 2.1.196, Reuters reported Wednesday. The agency advised users to uninstall the affected versions or upgrade to the latest release and urged organizations to strengthen network monitoring to help prevent unauthorized data transfers, the report said. Reuters noted that Alibaba (BABA) had recently banned employees from using Claude Code at work after the tool came under scrutiny for features that could identify China-linked users. Amazon shares were down 2.1%.Microsoft (MSFT)-backed OpenAI will launch its latest GPT-5.6 artificial intelligence model on Thursday, the company said in a post on X late Tuesday. OpenAI said it is set to release its flagship Sol model, along with Terra, a balanced model for everyday work, and Luna, a fast and affordable model. Microsoft shares were down 1.7%.Apple has lost a major court battle in the EU, which paves the way for regulators to apply the bloc's toughest antitrust rules to the App Store and iOS, the EU General Court said Wednesday. The court dismissed all actions brought by Apple, confirming its designation as a "gatekeeper" under the Digital Markets Act for the App Store and iOS.Price: $309.98, Change: $-0.69, Percent Change: -0.22%

$AAPL$AMZN$AVGO$BABA$MSFT
Wire

Alibaba's Cloud Growth Momentum Likely to Sustain in the Upcoming Quarters, Morgan Stanley Says

Alibaba's (BABA) cloud growth momentum is likely to sustain in the upcoming quarters and margin to remain intact as artificial intelligence-related revenue continues to grow at triple digits, Morgan Stanley said in a Wednesday research report.Cloud margin expansion is driven by price hikes and rising model-as-a-service revenue mix, and is on track to deliver long-term target of 20%, analysts wrote.Customer management revenue is growing in line with the industry, and costs related to Qwen model training is likely to be sizable alongside the token surge, according to the note.The brokerage said it reiterated its overweight rating on the stock and adjusted its price target to $180 per share from $190.Price: $108.18, Change: $+10.04, Percent Change: +10.23%

$BABA
Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Higher in Wednesday Trading

Asian equities traded in the US as American depositary receipts were higher Wednesday morning, rising 0.79% to 2,898.28 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by automotive marketplace Token Cat (TC) and tech company Alibaba Group (BABA), which surged 25% and 9.8% respectively. They were followed by internet and data center services provider VNET Group (VNET) and tech company Baidu (BIDU), which rose 5.1% and 4.5% respectively.The decliners from North Asia were led by online game developer The9 (NCTY), which fell 3.2%. It was followed by AMTD Digital (HKD) and polysilicon manufacturer Daqo New Energy (DQ), which were down 2.6% and 2.5% respectively.From South Asia, the gainers were led by Canaan (CAN) and Sify Technologies (SIFY), which rose 11% and 2.7% respectively.The decliners from South Asia were led by fintech firm Trident Digital Tech (TDTH) and HDFC Bank (HDB), which dropped 27% and 2.4% respectively. They were followed by ICICI Bank (IBN) and Infosys (INFY), which lost 2.2% and 1.3% respectively.

$BABA$BIDU$CANM$DQ$HDB$HKD$IBN$INFY$NCTY$SIFY$TC$TDTH$VNET
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Wednesday as Trump Declares US-Iran Agreement Over

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.5%, and the actively traded Invesco QQQ Trust (QQQ) retreated 0.8% in Wednesday's premarket activity, as President Donald Trump's declaration that the interim US-Iran agreement had ended fueled concerns about renewed conflict, sending oil prices higher and weighing on risk assets.US stock futures were also lower, with S&P 500 Index futures down 0.9%, Dow Jones Industrial Average futures slipping 1.1%, and Nasdaq futures falling 1.3% before the start of regular trading.Mortgage applications fell by 2.2% in the week ended July 3, with refinancing activity and new home applications both pushed lower by an uptick in average 30-year fixed mortgage rates, according to Mortgage Bankers Association data released Wednesday.May's wholesale inventories data will be released at 10:00 am ET, followed by the weekly oil stocks data at 10:30 am ET.The minutes of the June 16-17 Federal Open Market Committee meeting are slated for a 2:00 pm ET release.May consumer credit data posts at 3:00 pm ET.In premarket action, bitcoin was down by 2.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.2% lower, Ether ETF (EETH) retreated 2.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.5%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) fell about 1.5%.FuelCell Energy (FCEL) stock was down more than 19% before the opening bell after the company priced its offering of about 10.7 million common shares at $21 per share for gross proceeds of $225 million.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.8%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained by 0.8%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.9%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.2%.Alibaba Group (BABA) shares surged more than 9% pre-bell after news reports of a positive pre-earnings business update showing narrowing losses, and a Bloomberg News report of a victory in a US federal court.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.3% higher.Banco Santander (SAN) shares traded down 3% in early hours activity, extending losses after a 1.3% fall in the previous day's session. The Financial Times reported that the bank has overhauled its Asia-Pacific corporate and investment banking business, removing its top banker in Beijing, tightening employee oversight, and cutting staff perks as part of a cost-cutting driveHealth CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.1%, the Vanguard Health Care Index Fund (VHT) rose 1%, while the iShares US Healthcare ETF (IYH) slipped 0.1%. The iShares Biotechnology ETF (IBB) was 0.3% lower.AstraZeneca (AZN) stock was down more than 1% premarket after gaining 1.6% at the prior close. Sino Biopharmaceutical said AstraZeneca has signed a deal worth up to $2.1 billion with its Chia Tai Tianqing Pharmaceutical unit to develop, manufacture, and commercialize the chronic respiratory disease drug candidate TQC3721.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.1%, and the iShares US Technology ETF (IYW) was 0.8% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 1.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) fell 2%, while the iShares Semiconductor ETF (SOXX) declined by 1.4%.Intel (INTC) shares were down more than 1% in premarket activity, after a 9.7% fall in Tuesday's close. SambaNova Systems, backed by Intel, said it raised $1 billion in the first close of its Series F funding round at an $11 billion valuation, with General Atlantic leading the investment.EnergyThe iShares US Energy ETF (IYE) rose 3.1%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1.4%.Petrobras (PBR) stock was up more than 1% before market open after the company said that it signed a settlement agreement with Brazil's oil regulator, ANP, to bring 335 offshore wells into compliance with well integrity regulations by Dec. 31, 2030.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 5.2% to $74.09 per barrel on the New York Mercantile Exchange. Natural gas was down by 0.6% to $3.29 per 1 million British Thermal Units. The United States Oil Fund (USO) gained by 2.1%, while the United States Natural Gas Fund (UNG) was 1.2% higher.Gold futures for July were down by 2.1% to $4,070.30 an ounce on the Comex. Silver futures retreated by 3.6% to $59.13 an ounce. SPDR Gold Shares (GLD) decreased by 0.8%, and the iShares Silver Trust (SLV) was 2.7% lower.

Dow JonesNasdaq CompositeS&P 500$AZN$BABA$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$FCEL$GLD$IBB$IGM$IGV$INTC$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PBR$PMR$QQQ$RTH$SAN$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
US Stocks Fall Pre-Bell After Trump Reportedly Says Ceasefire Deal With Iran 'Over'
US Markets

US Stocks Fall Pre-Bell After Trump Reportedly Says Ceasefire Deal With Iran 'Over'

US stock prices were falling in Wednesday's premarket session as oil prices jumped after President Trump reportedly said the US ceasefire agreement with Iran was "over."S&P 500 futures declined 0.7%, Dow Jones Industrial Average futures fell 0.9% and Nasdaq futures were off 1% before the opening bell. The indexes finished the previous trading session lower.During a North Atlantic Treaty Organization summit in Turkey on Wednesday, Trump said the memorandum of understanding signed with Iran last month to end the war in the Middle East was "over," according to several media outlets."To me, I think it's over," Trump said, according to CNBC. "I don't want to deal with them anymore."Trump's comments came after the US Central Command said Tuesday its forces completed a "new round of offensive strikes" against Tehran, following its attacks on commercial vessels transiting through the Strait of Hormuz. Iran's Islamic Revolutionary Guard Corps launched strikes on US military targets across Bahrain and Kuwait in response to Washington's attacks, CNN reported, citing the IRGC.The US Treasury Department also revoked a general license that authorized the sale of Iranian oil, petrochemicals and petroleum products, according to a Tuesday statement from the Office of Foreign Assets Control.West Texas Intermediate crude oil jumped 5% to $73.99 a barrel before the open, while Brent spiked 5.2% to $78.02.The Federal Reserve is scheduled to post minutes of its last policy meeting in June at 2 pm ET, which will be assessed for fresh insight on the central bank's monetary policy. At the meeting, policymakers kept their benchmark lending rate steady for a fourth consecutive time.US Treasury yields were moving higher in premarket action, with the two-year rate increasing 4.8 basis points to 4.21% and the 10-year rate adding 4.2 basis points to 4.57%.Wednesday's economic calendar also includes the weekly mortgage applications bulletin at 7 am, followed by the weekly EIA domestic petroleum inventories report at 10:30 am.Shares of SpaceX (SPCX) rebounded 1.2% pre-bell after falling 6.8% at the close of Tuesday's session. Alibaba Group's (BABA) US-listed stock climbed 9.1%.MasTec (MTZ) edged up 0.5% as the infrastructure engineering and construction company agreed to acquire electrical contractor Superior Group in a cash and stock deal worth roughly $1.65 billion.Levi Strauss (LEVI) is scheduled to release its latest financial results before the bell, while PriceSmart (PSMT) and AZZ (AZZ) post their earnings after the markets close.Gold dropped 2.3% to $4,062 per troy ounce, while bitcoin slipped 2.6% to $62,068.

Dow JonesNasdaq CompositeS&P 500$AZZ$BABA$LEVI$MTZ$PSMT$SPCX
Commodities

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Thursday Amid Latest Economic Reports

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.3%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.4% in Thursday's premarket activity, amid the latest economic reports.US stock futures were mixed, with S&P 500 Index futures rose 0.4%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures retreating 0.5% before the start of regular trading.US initial jobless claims fell to 215,000 from 216,000 in the prior week, coming in below economists' expectations of 218,000.US nonfarm payrolls increased by 57,000 in June, well below expectations for a gain of 113,000 and down from a revised 129,000 increase in May, while the unemployment rate edged down to 4.2% from 4.3%, beating forecasts for no change.May's factory orders report will be released at 10 am ET, followed by the weekly EIA natural gas report at 10:30 am ET.The weekly Baker Hughes oil-and-gas rig count will be released at 1 pm ET.In premarket action, bitcoin was up by 1.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.7% higher, Ether ETF (EETH) advanced 2.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 2.8%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased by 0.5%. The VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail ETF (XRT) were inactive.Alibaba (BABA) shares were down more than 1% pre-bell after gaining 2.1% at Wednesday's close. The US Department of Justice said Wednesday that the company and its US-based payment processor, AUS Merchant Services, agreed to pay a combined $600 million to resolve US allegations over illegal product sales on the company's e-commerce platforms.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.7% lower.UBS Group AG (UBS) shares traded up 3.4% in early hours activity after the Financial Times reported that the company plans to begin testing everyday banking services for its US employees as early as December, laying the groundwork for a full-service bank targeting wealthy American clients by mid-2027.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.1%, while the Vanguard Industrials Index Fund (VIS) was inactive and the iShares US Industrials ETF (IYJ) was flat.Forgent Power Solutions (FPS) stock was down more than 2% before the opening bell after the company priced an upsized public offering of its class A common shares at $49 each.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.6%, the Vanguard Health Care Index Fund (VHT) was flat, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.9% higher.Novartis (NVS) stock was up more than 1% premarket after the company received European Commission approval for its gene replacement treatment, Itvisma, to treat spinal muscular atrophy in patients aged 2 and older.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was flat.TotalEnergies (TTE) stock advanced more than 1% before the opening bell after the company agreed to sell its 85% interest in Block 2E offshore Malaysia to INPEX for $350 million.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.9%, and the iShares US Technology ETF (IYW) was 0.7% higher, while the iShares Expanded Tech Sector ETF (IGM) down 1.9%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined by 1.2%, while the iShares Semiconductor ETF (SOXX) rose by 1.9%.Nvidia (NVDA) shares were down 0.4% in premarket activity, extending losses from the previous day's 1.3% fall. The company said it is expanding access to its artificial intelligence infrastructure by introducing a revenue-sharing model that grants token credits to developers in exchange for a portion of the recurring earnings from the cloud networks.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 1.8% to $67.31 per barrel on the New York Mercantile Exchange. Natural gas was down by 1.2% to $3.18 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 1%, while the United States Natural Gas Fund (UNG) was 0.7% lower.Gold futures for July were up by 1.1% to $4,129.62 an ounce on the Comex. Silver futures was up by 2.3% to $61.89 an ounce. SPDR Gold Shares (GLD) advanced by 2.3%, and the iShares Silver Trust (SLV) was 3.6% higher.

Dow JonesNasdaq CompositeS&P 500$BABA$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$FPS$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVDA$NVS$PMR$QQQ$RTH$SLV$SOXX$SPY$TTE$UBS$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD

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