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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

Commodities60d ago

GIP to Acquire Majority Stake in Commercial Solar Developer Summit Ridge

Global Infrastructure Partners, a subsidiary of BlackRock (BLK), has agreed to acquire a controlling interest in commercial solar developer Summit Ridge Energy, it said on Wednesday.The acquisition aims to scale Summit Ridge's solar and battery project pipeline across the Midwest, Mid-Atlantic, and New England.The acquisition intends to provide Summit Ridge with capital to accelerate its project pipeline and increase direct ownership of assets.This partnership aims to address increasing US electricity demand and strengthen the company's position in the commercial solar sector.The completion of the transaction remains subject to customary closing conditions and regulatory approvals.

$BLK

Asia Markets62d ago

Update: US Equity Futures Drop Pre-Bell as Iran Says Strait of Hormuz Closed Once Again, Oil Prices Jump

(Updates with recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were lower pre-bell Monday as hostilities continued to re-escalate in the Middle East and Iran declared the Strait of Hormuz once again closed, driving up oil prices.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 1.2% lower.The US and Iran traded heavy missile and drone attacks over the weekend, with the US military saying they hit Iranian military facilities, while Iran's Revolutionary Guards said they had struck US installations in Bahrain, Kuwait, Oman and Jordan.Iran, which is seeking to set up a permanent fee and permit system for ships transiting the Strait of Hormuz, said Sunday that the waterway remains closed until "stability and calm" is restored.In a post on X, US Central Command said that its forces are "postured and prepared to ensure that freedom of navigation remains available to commercial shipping."Traders await a slew of earnings releases this week, including results from major US banks JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), and Citigroup (C) on Tuesday; Johnson & Johnson (JNJ), Morgan Stanley (MS), and BlackRock (BLK) on Wednesday; and Taiwan Semiconductor Manufacturing (TSM), UnitedHealth Group (UNH), GE Aerospace (GE), and Netflix (NFLX) on Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.3% at $79.27 per barrel and US West Texas Intermediate crude 4.2% higher at $74.41 per barrel.Federal Reserve board members Michelle Bowman and Christopher Waller are slated to speak on Monday.In other world markets, Japan's Nikkei closed 1.9% lower, Hong Kong's Hang Seng ended 0.2% higher, and China's Shanghai Composite finished 2.1% lower. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was flat in Europe's early afternoon session.In equities, Micron Technology (MU), AMD (AMD), and Intel (INTC) stocks were lower as part of a broader decline in the semiconductor sector. Micron shares fell 5.5%, AMD stock was down 2.9%, and Intel shares were 3.5% lower.On the winning side, the increase in oil prices lifted energy-related stocks. TotalEnergies (TTE) shares were up 1.6%, ConocoPhillips (COP) stock was 1.9% higher, and BP (BP) shares rose 1.6%. Accenture (ACN) stock was up 1% after the company said its subsidiary Accenture Capital on Friday closed the sale of five tranches of notes totaling approximately $5 billion.

Dow JonesNasdaq CompositeS&P 500$ACN$AMD$BAC$BLK$BP$C$COP$GE$GS$INTC$JNJ$JPM$MS$MU$NFLX$TSM$TTE$UNH$WFC

Japan62d ago

US Equity Futures Drop Pre-Bell as Iran Says Strait of Hormuz Closed Once Again, Oil Prices Jump

US equity futures were lower pre-bell Monday as hostilities continued to re-escalate in the Middle East and Iran declared the Strait of Hormuz once again closed, driving up oil prices.Dow Jones Industrial Average futures were down 0.1%, S&P 500 futures were down 0.3%, and Nasdaq futures were 0.9% lower.The US and Iran traded heavy missile and drone attacks over the weekend, with the US military saying they hit Iranian military facilities, while Iran's Revolutionary Guards said they had struck US installations in Bahrain, Kuwait, Oman and Jordan.Iran, which is seeking to set up a permanent fee and permit system for ships transiting the Strait of Hormuz, said Sunday that the waterway remains closed until "stability and calm" is restored.In a post on X, US Central Command said that its forces are "postured and prepared to ensure that freedom of navigation remains available to commercial shipping."Traders await a slew of earnings releases this week, including results from major US banks JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), and Citigroup (C) on Tuesday; Johnson & Johnson (JNJ), Morgan Stanley (MS), and BlackRock (BLK) on Wednesday; and Taiwan Semiconductor Manufacturing (TSM), UnitedHealth Group (UNH), GE Aerospace (GE), and Netflix (NFLX) on Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.4% at $78.59 per barrel and US West Texas Intermediate crude 3.4% higher at $73.88 per barrel.Federal Reserve board members Michelle Bowman and Christopher Waller are slated to speak on Monday.

Dow JonesNasdaq CompositeS&P 500$BAC$BLK$C$GE$GS$JNJ$JPM$MS$NFLX$TSM$UNH$WFC

Sectors67d ago

Sector Update: Financial Stocks Decline in Afternoon Trading

Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index dropping 1.6% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.5%.The Philadelphia Housing Index fell 2.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 1.2%.Bitcoin (BTC-USD) was declining 2.9% to $62,075, and the yield for 10-year US Treasuries rose 4.8 basis points to 4.58%.In economic news, the minutes from the Fed's policy meeting on June 16-17 are due at 2 pm ET. Investors will parse the views on the direction of interest rates at a time when the market is pricing in hikes. The probability of a 25-basis-point increase in rates is the highest among all other policy outcomes in September, October, and December, the CME FedWatch tool showed Wednesday.In corporate news, Truist Financial (TFC) faces a tough road ahead amid a leadership change and higher interest rates, BofA Securities said, joining other brokerages that recently downgraded their ratings on the regional bank. BofA lowered Truist's rating to neutral from buy, with a price target of $56. The downgrade follows recent rating cuts by Morgan Stanley, UBS Securities and Raymond James. Truist shares were down 3.3%.Lemonade's (LMND) recent share price rally has largely priced in the company's growth and earnings outlook, leaving limited room for additional upside without new catalysts, Morgan Stanley said in a note. Morgan Stanley downgraded the stock to equal weight from overweight with a price target of $75. Lemonade shares slumped past 8%.BlackRock (BLK) is expected to deliver strong Q2 results driven by ETF demand, with shares supported by growth potential, margin expansion, and an attractive valuation, UBS Securities said in a note. BlackRock shares were shedding 2.1%.

$BLK$LMND$TFC

Wire67d ago

BlackRock's Q2 Results Seen Supported by Strong ETF Demand, UBS Securities Says

BlackRock (BLK) is expected to deliver strong Q2 results driven by ETF demand, with shares supported by growth potential, margin expansion, and an attractive valuation, UBS Securities said in a note Tuesday.Analysts said they expect strong ETF demand to offset weaker cash and institutional flows, driving organic base fee growth of about 7.8%, above the company's 6% to 7% or higher guidance range. The company is set to report its Q2 financial results before market open on July 15.With shares trading at a 16.4x price-to-earnings ratio, below historical average, the stock is viewed as attractive given its growth outlook, margin expansion potential, and ability to withstand industry concerns such as artificial intelligence disruption and perpetual futures, according to the note.Analysts said the company is expected to see higher Q2 operating income and management fees are expected to reach $5.6 billion, above the $5.5 billion consensus estimate, driven by higher assets under management and fee rates. UBS estimates average AUM at $14.5 trillion, above the $14.3 trillion consensus estimate.The brokerage raised its 2026 and 2027 EPS estimates to $53.87 and $60.48, respectively, from $53.50 and $59.00, "as higher management fees are slightly offset by lower performance fees and higher compensation."UBS Securities has a buy rating and a $1,270 price target on BlackRock.Shares of BlackRock were down more than 2% in Wednesday trading.Price: $985.58, Change: $-23.85, Percent Change: -2.36%

$BLK

Oil & Energy73d ago

Market Chatter: Kuwait Petroleum Seeks Bidder Consolidations for $7 Billion Kuwaiti Oil Pipeline Stake

Kuwait Petroleum has requested that global investment funds bidding for a $7 billion stake in its oil pipeline network form consortiums to consolidate competing bids, aiming to accommodate smaller investors with close ties to the state energy firm, Reuters reported Thursday, citing sources.The deal has drawn notable interest across the alternative asset management sector, with Blackstone (BX) also surfacing as a participant for the first time in the current multi-year wave of Middle Eastern national oil company asset sales.Blackstone joins a group of infrastructure heavyweights advancing to the next round of the competitive sale process, including Brookfield Asset Management (BAM), Apollo Global Management (APO), KKR (KKR), EIG Global Energy Partners, and BlackRock (BLK) alongside its newly integrated infrastructure division, Global Infrastructure Partners.Except for KKR, who declined to comment, none of the parties involved responded immediately to' request for comments.(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.)

$APO$BAM$BLK$BX$KKR

Sectors74d ago

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks rose in late Wednesday afternoon trading, with the NYSE Financial Index increasing 1.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 2.2%.The Philadelphia Housing Index was falling 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.7%.Bitcoin (BTC-USD) was increasing 2.9% to $60,189, and the yield for 10-year US Treasuries rose 5.7 basis points to 4.475%.In economic news, outplacement firm Challenger, Gray & Christmas said companies planned to cut 45,849 jobs in June, down from 97,006 in May and 47,999 a year ago. The largest layoff counts in June were in the technology and services sectors.ADP's monthly measure of private payrolls showed a 98,000 increase in June, below expectations for an increase of 120,000 in a Bloomberg-compiled survey.The Institute for Supply Management's US manufacturing index fell to 53.3 in June from 54.0 in May, compared with forecasts for 53.9 in a Bloomberg-compiled poll, indicating a slower pace of expansion.The S&P Global US manufacturing index for June was revised down to 53.9 from the flash reading of 55.7, versus expectations for an unrevised reading in a Bloomberg-compiled survey.In sector news, US banks are expected to report double-digit growth in Q2 core earnings, buoyed by factors including net interest revenue and core noninterest income, RBC Capital Markets said in a Wednesday note. RBC is projecting a 19% annual jump in banks' median core earnings per share from a year earlier. Consensus estimates point to a 21% increase, according to the brokerage.In corporate news, Robinhood (HOOD) launched perpetual futures with no expiry date tied to commodities like gold, silver, and crude oil, as well as exchange-traded funds, and currencies in Europe, multiple media outlets reported Wednesday. Robinhood shares jumped past 8%.Phil Tseng, chief executive of BlackRock's (BLK) troubled private credit fund, is leaving the company, Bloomberg reported. Tseng remains an employee of the company for now, and the time of his departure hasn't been finalized, the report said. BlackRock shares were up 1.9%.Klarna (KLAR) said a court ruled in favor of its PriceRunner unit, awarding it $1.97 billion in damages in an antitrust lawsuit against Alphabet's (GOOGL) Google. Klarna said the award compensates the company for lost revenue due to Google's preference of its own comparison-shopping service over independent services. Klarna shares rose 1.8%.JPMorgan Chase's (JPM) asset management unit is the leading bidder to buy Idex, Antin Infrastructure Partners' French heating and cooling network operator, Bloomberg reported. Idex could be valued at between 3 billion euros ($3.4 billion) and 4 billion euros, including debt, in a potential acquisition, the report said. JPMorgan shares added 1.8%.

$BLK$HOOD$JPM$KLAR

Sectors74d ago

Sector Update: Financial

Financial stocks were advancing in late Wednesday afternoon trading, with the NYSE Financial Index rising 1.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 2.2%.The Philadelphia Housing Index was falling 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.7%.Bitcoin (BTC-USD) was increasing 2.9% to $60,189, and the yield for 10-year US Treasuries rose 5.7 basis points to 4.475%.In corporate news, Phil Tseng, chief executive of BlackRock's (BLK) troubled private credit fund, is leaving the company, Bloomberg reported. Tseng remains an employee of the company for now, and the time of his departure hasn't been finalized, the report said. BlackRock shares were up 1.9%.

$BLK

Sectors74d ago

Sector Update: Financial Stocks Higher Wednesday Afternoon

Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 1.7% and the State Street Financial Select Sector SPDR ETF (XLF) adding 2.4%.The Philadelphia Housing Index was falling 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.9%.Bitcoin (BTC-USD) was increasing 3.2% to $60,134, and the yield for 10-year US Treasuries was rising to 4.47%.In economic news, outplacement firm Challenger, Gray & Christmas said companies planned to cut 45,849 jobs in June, down from 97,006 in May and 47,999 a year ago. The largest layoff counts in June were in the technology and services sectors.In sector news, US banks are expected to report double-digit growth in Q2 core earnings, buoyed by factors including net interest revenue and core noninterest income, RBC Capital Markets said in a Wednesday note. RBC is projecting a 19% annual jump in banks' median core earnings per share from a year earlier. Consensus estimates point to a 21% increase, according to the brokerage.In corporate news, Klarna (KLAR) said a court ruled in favor of its PriceRunner unit, awarding it $1.97 billion in damages in an antitrust lawsuit against Alphabet's (GOOGL) Google. Klarna said the award compensates the company for lost revenue due to Google's preference of its own comparison-shopping service over independent services. Klarna shares rose 0.8%.BlackRock (BLK), KKR (KKR) and Macquarie Asset Management have met with Mexican government officials, as President Claudia Sheinbaum seeks to jump-start private investment in infrastructure projects, Bloomberg reported. BlackRock shares gained 1.9%, and KKR added 1.1%.JPMorgan Chase's (JPM) asset management unit is the leading bidder to buy Idex, Antin Infrastructure Partners' French heating and cooling network operator, Bloomberg reported. Idex could be valued at between 3 billion euros ($3.4 billion) and 4 billion euros, including debt, in a potential acquisition, the report said. JPMorgan shares rose 1.9%.

$BLK$JPM$KKR$KLAR

Wire74d ago

Market Chatter: BlackRock TCP Private Credit Fund CEO to Leave Company

Phil Tseng, chief executive of BlackRock's (BLK) troubled private credit fund, is leaving the company, Bloomberg reported Wednesday, citing people familiar with the matter.Tseng remains an employee of the company for now, and the time of his departure hasn't been finalized, the report said, citing the people.BlackRock 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: $980.34, Change: $+18.78, Percent Change: +1.95%

$BLK

Wire74d ago

BlackRock TCP Private Credit Fund CEO to Leave Company, Bloomberg Reports

$BLK

Wire75d ago

Visa, Stripe, Mastercard Among 140+ Firms Launching Open USD Stablecoin

Open Standard, an independent company backed by more than 140 businesses, launched Open USD, a new US dollar-backed stablecoin designed for global money movement, the company said Tuesday.Partners include Visa (V), Stripe, Mastercard, American Express, BlackRock, BNY, Google, Coinbase, Shopify, DoorDash, and Standard Chartered, among others. All plan to integrate Open USD into their systems once it goes live later this year.Open USD is designed around three principles: free minting and redemption with no volume limits, reserve earnings shared among partners minus a small management fee, and collaborative governance through a board made up of partners, the company said.Zach Abrams, co-founder of Stripe-owned Bridge, serves as founding CEO of Open Standard, according to the statement.Price: $343.74, Change: $+2.09, Percent Change: +0.61%

$BK$BLK$COIN$GOOGL$MA$PYPL$SHOP$V

Wire81d ago

Market Chatter: SEC Opens Probe Into Popular Type of Private Equity Fund

The US Securities and Exchange Commission's enforcement division is investigating funds popular among private equity firms that allow them to hold assets they either cannot or do not wish to sell, Reuters reported Wednesday, citing three people familiar with the matter.The investigators are looking into potential conflicts of interest around continuation vehicles, how assets are valued and whether disclosures are consistent and sufficient, the report said, citing the people.The SEC did not 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: $8.71, Change: $-0.20, Percent Change: -2.24%

$BLK$OWL

Wire81d ago

SEC Opens Probe Into Popular Type of Private Equity Fund, Reuters Reports

$BLK$OWL

Sectors81d ago

Sector Update: Financial Stocks Edge Higher Pre-Bell Wednesday

Financial stocks were edging higher pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.3%.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% lower.ProAssurance (PRA) shares were up more than 1% after the company said it has received all required regulatory approvals for its planned merger with The Doctors Company, clearing the final major hurdle for the transaction.BlackRock (BLK) and Fin Capital led Caplight Technologies' $16 million series A funding round, Caplight said. BlackRock stock was 0.1% lower premarket.JPMorgan Chase's (JPM) JPMorgan Public and Private Credit Fund, along with three other funds, won approvals to make monthly repurchase offers, the US Securities and Exchange Commission said. JPMorgan Chase shares were 0.1% higher pre-bell.

$BLK$FAS$FAZ$JPM$PRA$XLF

US Markets82d ago

Apollo Global Caps Private Credit Fund Withdrawals as Requests Spike

Apollo Global Management (APO) has restricted investor redemptions for its private credit fund Apollo Debt Solutions following a surge in share repurchase requests from stakeholders.The alternative asset manager limited withdrawals to 5% of outstanding shares in Apollo Debt Solutions, about $700 million of gross outflows, after shareholders requested the repurchase nearly 17% of outstanding shares as of March 31, according to a filing on Monday with the US Securities and Exchange Commission."Taken together, we expect net outflows from (Apollo Debt Solutions) will be approximately ($400 million) for the second quarter of 2026 and year-to-date, representing 3% of (net asset value)," the firm said in the filing.Shares of Apollo fell 3.2% in Tuesday trade, extending their year-to-date decline to about 9.5%.The surge in requests was driven primarily by offshore investors, who sought to redeem 12.5% of shares, while US repurchase requests slowed to 4.3%, Apollo said.In May, Apollo reported first-quarter earnings that exceeded analysts' estimates as revenue declined year-over-year and fell short of Wall Street's view."Consistent with industry trends within (business development companies), we saw an uptick in redemption requests at (Apollo Debt Solutions), though it's worth noting that 94% of the fund's investors did not submit a redemption request," President Jim Zelter said during the first quarter earnings call, according to a FactSet transcript.Earlier in June, BlackRock's (BLK) HPS Corporate Lending Fund said it received repurchase requests totaling about 13% of outstanding shares in the second quarter and would fulfill requests for 5% of sharesPrice: $131.59, Change: $-3.62, Percent Change: -2.68%

$APO$BLK

Sectors89d ago

Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks were advancing in late Tuesday afternoon trading, with the NYSE Financial Index rising 1.1% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 1.2%.The Philadelphia Housing Index climbed 1.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was fractionally higher.Bitcoin (BTC-USD) was declining 1.6% to $65,553, and the yield for 10-year US Treasuries fell 4.3 basis points to 4.43%.In economic news, US import prices jumped 1.9% in May, ahead of the 1% increase expected in a Bloomberg-compiled survey and following a 2.0% gain in April. Excluding a 13% surge in petroleum prices, import prices were up 0.8% from 0.5%, beating the 0.5% forecast. Export prices climbed 1.3% in May, above expectations for 0.9% and following a 3.5% jump in April.The New York Federal Reserve's services index worsened to minus 10.1 in June from minus 5.8 in May. The index is the first services reading for June and suggests more widespread contraction.Redbook US same-store sales jumped 9.4% from a year earlier in the week ended June 13, after surging 9.1% in the previous week. Seasonal categories such as air conditioners, fans, pool and beach equipment, swimwear, and other hot-weather apparel led the growth, according to Redbook.In corporate news, Ares Management (ARES) is nearing a deal to take control of French football club Olympique Lyonnais, alongside businesswoman Michele Kang, Bloomberg reported. Ares shares rose 1.4%.L3Harris Technologies (LHX) has selected JPMorgan Chase (JPM) and Morgan Stanley (MS) to lead the IPO of its missile unit Axyv, Bloomberg reported. JPMorgan shares gained 3.4%, and Morgan Stanley added 1.1%.BlackRock (BLK) is cutting about 200 jobs in its latest round of workforce reductions, Bloomberg reported. The layoffs, the fourth in 18 months, span investment, operations and technology roles, as well as positions within the firm's private financing unit, the report said. BlackRock shares advanced 0.8%.Robinhood (HOOD) said it reduced its workforce by about 10% as part of efforts to maintain a high-performance culture, accelerate product development. Robinhood shares fell 1.7%.

$ARES$BLK$HOOD$JPM$MS

Sectors89d ago

Sector Update: Financial Stocks Rise Tuesday Afternoon

Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 1.3% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 1.4%.The Philadelphia Housing Index was gaining 1.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.3%.Bitcoin (BTC-USD) was declining 0.9% to $65,682, and the yield for 10-year US Treasuries was falling 4.1 basis points to 4.428%.In economic news, US import prices jumped 1.9% in May, ahead of the 1% increase expected in a Bloomberg-compiled survey and following a 2.0% gain in April. Excluding a 13% surge in petroleum prices, import prices were up 0.8% from 0.5%, beating the 0.5% forecast. Export prices climbed 1.3% in May, above expectations for 0.9% and following a 3.5% jump in April.The New York Federal Reserve's services index worsened to minus 10.1 in June from minus 5.8 in May. The index is the first services reading for June and suggests more widespread contraction.Redbook US same-store sales jumped 9.4% from a year earlier in the week ended June 13, after surging 9.1% in the previous week. Seasonal categories such as air conditioners, fans, pool and beach equipment, swimwear, and other hot-weather apparel led the growth, according to Redbook.In corporate news, L3Harris Technologies (LHX) has selected JPMorgan Chase (JPM) and Morgan Stanley (MS) to lead the IPO of its missile unit Axyv, Bloomberg reported. JPMorgan shares rose 3.6%, and Morgan Stanley added 1.2%.Blackrock (BLK) is cutting about 200 jobs in its latest round of workforce reductions, Bloomberg reported. The layoffs, the fourth in 18 months, span investment, operations and technology roles, as well as positions within the firm's private financing unit, the report said. Blackrock shares advanced 1%.Robinhood (HOOD) said it reduced its workforce by about 10% as part of efforts to maintain a high-performance culture, accelerate product development. Robinhood shares fell 2%.

$BLK$HOOD$JPM$MS

Sectors89d ago

Sector Update: Financial Stocks Advance Premarket Tuesday

Financial stocks were advancing premarket Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.4% 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 0.9% lower.Robinhood Markets (HOOD) said it reduced its workforce by about 10% as part of efforts to maintain a high-performance culture, accelerate product development. Shares of Robinhood Markets were up more than 2% pre-bell.JPMorgan Chase (JPM) aims to have its retail digital bank operating in at least five European countries within the next five years, the Financial Times reported, citing people familiar with the matter. JPMorgan Chase shares were up 0.8% premarket.Blackrock (BLK) is cutting about 200 jobs in its latest round of workforce reductions, Bloomberg reported, citing people familiar with the matter. Blackrock stock was 0.2% higher premarket.

$BLK$FAS$FAZ$HOOD$JPM$XLF

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