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Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Wednesday Amid Renewed US-Iran Clashes

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 1%, and the actively traded Invesco QQQ Trust (QQQ) retreated by 1.6% in Wednesday's premarket activity, amid renewed clashes between Iran and the US.US stock futures were also lower, with S&P 500 Index futures down 1%, Dow Jones Industrial Average futures slipping 0.9%, and Nasdaq futures retreating 1.5% before the start of regular trading.Mortgage applications rose by 10.8% in the week ended June 5 after a 2.5% decline in Memorial Day week despite an increase in average 30-year mortgage rates, according to Mortgage Bankers Association data released Wednesday.US consumer prices rose 0.5% in May, matching economists' expectations but slowing from a 0.6% increase in April, while core CPI increased 0.2%, below forecasts for a 0.3% gain and down from a 0.4% rise in the prior month.The consumer price index report for May is scheduled for an 8:30 am ET release.The weekly EIA domestic petroleum inventories report will be released at 10:30 am ET.In premarket action, bitcoin was down by 1.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.7% lower, Ether ETF (EETH) retreated by 2.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) lost 0.01%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 2.3%, and the iShares US Technology ETF (IYW) was 2.2% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 2.2%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) fell 4.5%, while the iShares Semiconductor ETF (SOXX) declined by 3.4%.Taiwan Semiconductor Manufacturing (TSM) shares were down more than 3% in premarket activity even after the company reported higher net revenue for the month of May and the period from January to May.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 0.7% higher. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.7%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) retreated by 1.2%.Sea's (SE) shares were down more than 2% pre-bell. Bloomberg reported, citing unnamed people familiar with the matter, that the company's Shopee division is eliminating hundreds of developer positions, affecting about 8% of the platform's developer workforce.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.2%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, while the iShares US Healthcare ETF (IYH) gained 1.2%. The iShares Biotechnology ETF (IBB) was 0.8% lower.Sanofi (SNY) stock was down more than 2% premarket after the company said that it will discontinue a phase 3 trial of its experimental drug riliprubart in patients with a type of chronic inflammatory demyelinating polyneuropathy after an interim review found the study was unlikely to provide "sufficient efficacy."FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.6%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.5% higher.Blackstone (BX) shares were down more than 2% pre-bell after Bloomberg reported the company is divesting Interplex's information and communications technology division to BizLink for roughly $850 million, with the agreement including an additional $50 million earnout based on certain milestones.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.6%, while the Vanguard Industrials Index Fund (VIS) fell 1.6% and the iShares US Industrials ETF (IYJ) was inactive.Core & Main (CNM) stock was down more than 1% before the opening bell, after the company reported unchanged fiscal Q1 net sales.EnergyThe iShares US Energy ETF (IYE) rose 2.5%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.7%.APA (APA) stock was up more than 1% before market open after the company said it has agreed to acquire Savant Alaska for about $70 million in upfront consideration, plus contingent payments related to the development of APA's eastern North Slope portfolio.CommoditiesFront-month US West Texas Intermediate crude oil gained by 2.1% to $90.02 per barrel on the New York Mercantile Exchange. Natural gas was up 2.9% at $3.23 per 1 million British Thermal Units. The United States Oil Fund (USO) rose by 1.6%, while the United States Natural Gas Fund (UNG) was 2.6% higher.Gold futures for July retreated by 2.8% to $4,166.90 an ounce on the Comex. Silver futures declined by 2.3% to $63.72 an ounce. SPDR Gold Shares (GLD) was down by 2.8%, and the iShares Silver Trust (SLV) decreased by 2.4%.

Dow JonesNasdaq CompositeS&P 500$APA$BETH$BITO$BX$CNM$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QQQ$RTH$SE$SLV$SNY$SOXX$SPY$TSM$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Wire

Top Midday Stories: GSK to Acquire Nuvalent for $10.6 Billion in Cash; Apple Introduces Siri AI, But EU Launch to be Delayed

The Dow Jones Industrial Average was up, while the S&P 500 and Nasdaq Composite were down in late-morning trading Tuesday, as a recent surge in chip stocks lost momentum.In company news, GSK (GSK) said it signed a definitive agreement Tuesday to acquire Nuvalent (NUVL) for $10.6 billion in cash. The transaction includes a tender offer of $124 per share for all outstanding common stock, as GSK looks to expand its pipeline of lung cancer therapies, the company said. GSK shares were up 0.7% around midday, while those of Nuvalent were up 38.9%.Apple (AAPL) on Monday unveiled major software updates at its Worldwide Developers Conference, including Siri AI and the next generation of Apple Intelligence. Siri AI is deeply integrated across iPhone, iPad, Mac, Apple Watch and Vision Pro, the company said. The tech giant also introduced new parental controls and redesigned Screen Time, allowing parents to set age-appropriate protections, daily app time limits and communication safety features. Apple users in the European Union will not have Siri AI access on iOS 27 and iPadOS 27 when it launches due to requirements under the Digital Markets Act, the company said. Apple remains unable to reach an agreement with EU regulators on a framework that would let Siri AI launch on iPhone and iPad while adhering to privacy and security standards, it said. Apple shares were down 3.3%.Broadcom (AVGO) said Tuesday it is launching the AI XPV Platform alongside Apollo Global Management (APO) and Blackstone's (BX) Credit & Insurance Business to facilitate over 20 gigawatts in compute capacity for leading AI labs, including Anthropic and OpenAI, through 2028. The platform, which will use Broadcom's XPUs and networking solutions, launches Tuesday with an initial $35 billion tranche led by Apollo in partnership with Blackstone. Broadcom shares were down 4.0%, while Apollo and Blackstone shares were up 1.7% and 2.8%, respectively.CoreWeave (CRWV) will hold calls Tuesday with high-yield investors in Europe about potential dollar and euro bond sales, Bloomberg reported, citing a person familiar with the matter. The AI infrastructure provider has appointed JPMorgan Chase (JPM) to arrange the calls, the report said, citing the person. CoreWeave shares were down 4.7%.JPMorgan Chase plans to launch AI agents later this year that are capable of working autonomously for far longer than current versions, CNBC reported Tuesday, citing an interview with Chief Analytics Officer Derek Waldron. JPMorgan shares were down 0.6%.Price: $51.01, Change: $+0.37, Percent Change: +0.73%

$AAPL$APO$AVGO$BX$CRWV$GSK$JPM
Wire

Market Chatter: Alternative-Investment Firms Target Mexico's $500 Billion Pension Pool

Blue Owl Capital (OWL), Ares Management (ARES), and Golub Capital are among firms targeting a $500 billion opportunity in Mexican pension funds, Bloomberg reported Monday.Reforms have boosted contributions to workers' accounts, while new rules allow the Mexican funds to allocate more to international private-markets managers, the report said.BlackRock (BLK), Blackstone (BX), KKR (KKR) and Lexington Partners were among the earliest to set up vehicles eligible for investment by the pension funds, known as Afores, according to data from local exchange Biva, the report said.Blue Owl and Ares did not immediately respond to a requests for comment by.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $9.46, Change: $-0.35, Percent Change: -3.52%

$ARES$BLK$BX$KKR$OWL
Wire

Blackstone Digital Infrastructure Trust Offers Data Center Exposure With Limited Development Risk, BofA Says

Blackstone Digital Infrastructure Trust (BXDC) offers exposure to stabilized data center assets with limited development risk, while projected industry-leading AFFO/share growth and potential cap rate compression provide investment upside, with Blackstone (BX) backing adding to the credibility, BofA Securities said in a Monday note.Building on this, the investment firm said that Blackstone's backing and management expertise add credibility. However, these positives are offset by pre-asset acquisition uncertainty, which could drive variance in cap rates, acquisition timing and asset quality versus the brokerage's base case.Blackstone Digital Infrastructure Trust has identified a $25 billion pipeline of acquisition targets in the top-tier markets and expects to deploy its initial public offering capital by early 2027, BofA said, adding that tenants of target properties are hyperscalers such as Microsoft (MSFT), Amazon (AMZN), and Alphabet's (GOOGL, GOOG) Google.Strong projected demand for the data center market is driving record development spending, and exposure to less proven markets and increased counterparty risk at public peers, which has negatively affected valuations in some cases due to near-term AFFO dilution from costs and perceived risks, BofA Securities said.BofA initiated coverage with a neutral rating and a $22.5 price objective on Blackstone Digital Infrastructure Trust.Price: $22.16, Change: $+0.32, Percent Change: +1.47%

$BX$BXDC
Sectors

Sector Update: Financial Stocks Edge Lower Premarket Monday

Financial stocks were edging lower premarket Monday, with the State Street Financial Select Sector SPDR ETF (XLF) falling by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.6% higher.Goldman Sachs-backed (GS) taxi booking app Go priced its initial public offering in Japan at 2,400 Japanese yen ($14.98) per share, according to a regulatory filing. Shares of Goldman Sachs Group were up more than 1% pre-bell.Blackstone (BX) is preparing to offload more than $2 billion in private fund stakes through a structured bond deal, the Financial Times reported. Blackstone stock was 0.9% higher premarket.Ares Capital (ARCC) established its inaugural commercial paper program, allowing the company to issue up to $1 billion of short-term unsecured commercial paper notes, the company said in a filing. Ares Capital shares were up 0.5% pre-bell.

$ARCC$BX$FAS$FAZ$GS$XLF
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Monday as Chip Stocks Rebound

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.9% in Monday's premarket activity, as semiconductor shares rebound from Friday's selloff.US stock futures were also higher, with S&P 500 Index futures up 0.8%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 1.4% before the start of regular trading.The New York Fed's inflation expectations report for May will be released at 11 am ET.In premarket action, bitcoin was up by 3.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.4% higher, Ether ETF (EETH) advanced 6.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 0.01%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.6%, while the Vanguard Industrials Index Fund (VIS) was up 0.8% and the iShares US Industrials ETF (IYJ) was inactive.Graham (GHM) stock was down more than 7% before the opening bell after the company reported lower fiscal Q4 adjusted net income.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 1.8%, and the iShares US Technology ETF (IYW) was 1.8% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.8%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 3.8%, while the iShares Semiconductor ETF (SOXX) rose by 4.1%.Nvidia (NVDA) shares were up more than 2% in premarket activity after dropping by 6.2% on Friday. The company will expand artificial intelligence infrastructure in South Korea, beginning with a 55-megawatt deployment at Naver's GAK Sejong data center. The chipmaker also closed a multi-year deal with SK hynix to design future generations of artificial intelligence memory hardware.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.8%. The iShares US Consumer Staples ETF (IYK) advanced by 0.1%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.8%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) rose by 1%.Ingredion (INGR) shares were up 0.8% pre-bell after the company said it has launched an all-cash tender offer to acquire Tate & Lyle, valuing the specialty ingredients company at about 3.7 billion British pounds ($5 billion).HealthcareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%, the Vanguard Health Care Index Fund (VHT) was down 0.2%, while the iShares US Healthcare ETF (IYH) slipped 0.2%. The iShares Biotechnology ETF (IBB) was 0.2% higher.Eli Lilly (LLY) stock was up more than 1% premarket after the drugmaker said its experimental obesity drug retatrutide delivered significant weight loss in two clinical studies and showed "meaningful" improvements in knee osteoarthritis pain and sleep apnea.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.Blackstone (BX) shares were up 0.4% pre-bell after closing Friday with a 2.7% fall. The Financial Times reported the company is preparing to offload more than $2 billion in private fund stakes through a structured bond deal.EnergyThe iShares US Energy ETF (IYE) was up 0.7%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.7%.Eni (E) stock was up nearly 1% before the opening bell, following a 1.1% decline in the prior trading session. Petronas and Eni said they have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.9% to $91.33 per barrel on the New York Mercantile Exchange. Natural gas was down 2.9% to $3.13 per 1 million British Thermal Units. The United States Oil Fund (USO) advanced by 2%, while the United States Natural Gas Fund (UNG) was 2.4% lower.Gold futures for July retreated by 0.3% to $4,354.00 an ounce on the Comex. Silver futures declined by 0.7% to $68.60 an ounce. SPDR Gold Shares (GLD) was up by 0.2%, and the iShares Silver Trust (SLV) increased by 0.5%.

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

US Equity Markets Mixed Amid Technology Stock Sell-Off, Decline in Crude Oil Prices

US equity indexes were mixed on Thursday amid a sell-off in tech stocks and a decline in crude oil futures, along with lower government bond yields.* Challenger, Gray & Christmas said Thursday employers announced 97,006 layoffs in May, the highest for the month since 2020, up 16% from April and 3% from a year earlier.* US initial jobless claims rose to 225,000 in the week ended May 30 from a downwardly revised 212,000 in the previous week, compared with expectations for 215,000 in a survey of analysts compiled by Bloomberg.* The Associated Press reported on Thursday that Hezbollah rejected the latest ceasefire agreement between Israel and the Lebanese government, while the media outlet separately reported that the US House on Wednesday approved a war powers resolution that would halt US military action against Iran.* July West Texas Intermediate crude oil fell $2.86 to settle at $93.16 per barrel, while August Brent crude, the global benchmark, was last seen down $2.53 at $95.28.* Blackstone's (BX) shares were up about 8.3%, the top gainer on the S&P 500, after its Blackstone Private Credit Fund unit reportedly said repurchase requests equaled about 10% of shares outstanding in Q2, but it will fulfill requests representing just 5% of its value.* Broadcom (AVGO) shares fell roughly 12%, the steepest decline on the Nasdaq, after it reported fiscal Q2 results late Wednesday. The company's fiscal Q3 and 2027 AI revenue outlook fell short of investor expectations, while Q2 results were slightly ahead of consensus, RBC and UBS said in separate notes.

Dow JonesNasdaq CompositeS&P 500$AVGO$BX
Sectors

Sector Update: Financial Stocks Gain Late Afternoon

Financial stocks were higher in late Thursday afternoon trading, with the NYSE Financial Index rising 2.2% and the State Street Financial Select Sector SPDR ETF (XLF) climbing 2.6%.The Philadelphia Housing Index increased 0.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.5%.Bitcoin (BTC-USD) was 2.6% lower at $63,852, and the yield for 10-year US Treasuries decreased 1.6 basis points to 4.48%.In economic news, US initial jobless claims rose to a level of 225,000 in the week ended May 30 from a downwardly revised 212,000 level in the previous week, compared with expectations for a 215,000 level in survey of analysts compiled by Bloomberg.Nonfarm productivity was revised down to a 0.3% growth pace in Q1 from a 0.8% increase in the previous estimate, below a 0.4% gain expected in a survey of analysts compiled by Bloomberg and following a 1.6% gain in Q4.In corporate news, JPMorgan Chase (JPM) and Jefferies Financial (JEF) are organizing trips to Caracas as foreign investor interest in Venezuela's economic reopening and debt restructuring grows, Bloomberg reported. JPMorgan shares rose 3.5%, and Jefferies climbed 4.4%.Blackstone's (BX) Blackstone Private Credit Fund said repurchase requests equaled about 10% of shares outstanding in Q2, but it will fulfill requests representing just 5% of its value, according to media reports on Thursday. Blackstone shares climbed 8.4%.Bank of America (BAC) shares rose 2.9% after it said Thursday it plans to introduce a cross-border real-time payment service for corporate and financial institution clients to instantly transfer funds via Swift or its digital CashPro system.Affirm (AFRM) and Canada Pension Plan Investment Board said Thursday that they have renewed and expanded their forward-flow agreement for consumer installment loans. Affirm shares rose 3.7%.

$AFRM$BAC$BX$JEF$JPM
Sectors

Sector Update: Financial Stocks Rise Thursday Afternoon

Financial stocks were higher in Thursday afternoon trading, with the NYSE Financial Index rising 2.2% and the State Street Financial Select Sector SPDR ETF (XLF) climbing 2.5%.The Philadelphia Housing Index increased 0.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1%.Bitcoin (BTC-USD) was falling 1.4% to $63,157, and the yield for 10-year US Treasuries decreased 2.2 basis points to 4.469%.In economic news, US initial jobless claims rose to a level of 225,000 in the week ended May 30 from a downwardly revised 212,000 level in the previous week, compared with expectations for a 215,000 level in survey of analysts compiled by Bloomberg.Nonfarm productivity was revised down to a 0.3% growth pace in Q1 from a 0.8% increase in the previous estimate, below a 0.4% gain expected in a survey of analysts compiled by Bloomberg and following a 1.6% gain in Q4.In corporate news, Bank of America (BAC) shares rose 2.7% after it said Thursday it plans to introduce a cross-border real-time payment service for corporate and financial institution clients to instantly transfer funds via Swift or its digital CashPro system.Blackstone's (BX) Blackstone Private Credit Fund said repurchase requests equaled about 10% of shares outstanding in Q2, but it will fulfill requests representing just 5% of its value, according to media reports on Thursday. Blackstone shares climbed 7.4%.Affirm (AFRM) and Canada Pension Plan Investment Board said Thursday that they have renewed and expanded their forward-flow agreement for consumer installment loans. Affirm shares rose 3.2%.

$AFRM$BAC$BX
Sectors

Sector Update: Financial Stocks Edge Higher Pre-Bell Thursday

Financial stocks were edging higher pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 1.2%.The Direxion Daily Financial Bull 3X Shares (FAS) was up 3.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 3.2% lower.Blackstone's (BX) Blackstone Private Credit Fund said repurchase requests equaled about 10% of shares outstanding in Q2, but it will fulfill requests representing just 5% of its value, according to media reports. Shares of Blackstone were up more than 1% premarket.Bank of America (BAC) is hiring Anshul Gupta from Avendus Capital to lead its investment banking operations in India, Bloomberg reported, citing unnamed people familiar with the matter. Bank of America stock was up more than 1% pre-bell.Brown-Forman (BF.A, BF.B) shares were down more than 1% after the company reported a decline in fiscal Q4 earnings.

$BAC$BF.A$BF.B$BX$FAS$FAZ$XLF
Sectors

Sector Update: Financial

Financial stocks were edging higher pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 1.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was up 3.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 3.4% lower.Blackstone's (BX) Blackstone Private Credit Fund said repurchase requests equaled about 10% of shares outstanding in Q2, but it will fulfill requests representing just 5% of its value, according to media reports. Shares of Blackstone were up more than 1% premarket.

$BX
Sectors

Sector Update: Financial Stocks Fall Pre-Bell Wednesday

Financial stocks were falling pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.6%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 1.7% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.9% higher.Blackstone (BX) is mulling the sale of payments services provider SP.LINKS, looking to fetch about 100 billion Japanese yen ($626 million) from the transaction, Bloomberg reported, citing sources familiar with the matter. Blackstone shares were down more than 4% premarket.Apollo Global Management (APO) said its managed funds completed the sale of their stake in aluminum packaging firm Altemira Holdings to investment funds run by MBK Partners. Apollo Global Management stock was down more than 4% pre-bell.Goldman Sachs (GS) CEO David Solomon said investors are showing "more greed than there is fear" as stock markets continue to climb despite concerns over elevated valuations, rising inflation and higher oil prices. Shares of Goldman Sachs Group were down more than 1% premarket.

$APO$BX$FAS$FAZ$GS$XLF
Commodities

Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Wednesday Amid Fresh Economic Signals

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.2% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.5% in Wednesday's premarket activity, as markets traded mixed amid caution about fresh employment and inflation indicators.US stock futures were mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures slipping 0.3%, and Nasdaq futures gaining 0.2% before the start of regular trading.US mortgage applications fell 2.5% in the week ended May 29, extending the prior week's decline despite lower 30-year mortgage rates, Mortgage Bankers Association data showed Wednesday.US private-sector employment increased by 122,000 jobs in May, slightly exceeding expectations, with hiring led by education and health services, trade, transportation and utilities, and construction, ADP data showed Wednesday.The May purchasing managers' index composite final report from S&P Global will be released at 9:45 am ET, followed by the Institute for Supply Management's services survey for May at 10:00 am ET.Factory orders data for April are scheduled to be released at 10:00 am ET, followed by the weekly oil stocks data at 10:30 am ET.Federal Reserve Governor Michael Barr and Dallas Fed President Lorie Logan are due to speak on Wednesday.In premarket action, bitcoin was down by 0.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% lower, Ether ETF (EETH) retreated by 1.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 0.01%.Power Play:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.1% higher.Blackstone (BX) shares were down more than 5% pre-bell after Bloomberg reported the company is mulling the sale of payments services provider, SP.LINKS, looking to fetch about 100 billion Japanese yen ($626 million) from the transaction.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.01% lower.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 0.4%, and the iShares US Technology ETF (IYW) was 0.4% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 1.5%, while the iShares Semiconductor ETF (SOXX) rose by 2%.Sprinklr (CXM) shares were down more than 5% in premarket activity after the company reported lower fiscal Q1 non-GAAP earnings.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) declined by 0.5%, while the Vanguard Industrials Index Fund (VIS) was down 0.7% and the iShares US Industrials ETF (IYJ) was inactive.T1 Energy (TE) stock was up 3% before the opening bell after the company said it had agreed to acquire Kore Power in a deal valued at $32 million in equity, cash, and assumed debt.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.02% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was down 0.4%. The iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) decreased by 0.8%.Ferrari (RACE) shares were down 1% pre-bell after closing the prior day with a 1.3% rise. The vehicle maker said Wednesday it has signed a multi-year contract extension with Charles Leclerc.EnergyThe iShares US Energy ETF (IYE) was up 0.7%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.6%.BP (BP) stock was up more than 1% before market open, following a 1% gain in the previous session. The Financial Times reported Tuesday that the company held advanced talks to sell its UK North Sea assets to Ithaca Energy in a nearly 2 billion British pounds ($2.7 billion) deal, though negotiations failed in recent weeks, with the oil major still exploring a sale to other potential buyers.CommoditiesFront-month US West Texas Intermediate crude oil gained by 2.2% to $95.82 per barrel on the New York Mercantile Exchange. Natural gas was up 0.3% to $3.18 per 1 million British Thermal Units. The United States Oil Fund (USO) rose by 2.7%, while the United States Natural Gas Fund (UNG) was 0.4% higher.Gold futures for July retreated by 0.7% to $4,488.90 an ounce on the Comex. Silver futures declined by 1.2% to $74.66 an ounce. SPDR Gold Shares (GLD) was down by 0.5%, and the iShares Silver Trust (SLV) decreased by 1%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BP$BX$CXM$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QQQ$RACE$RTH$SLV$SOXX$SPY$TE$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD$ZBIO
Sectors

Sector Update: Financial

Financial stocks were falling pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.6%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 1.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.9% higher.Blackstone (BX) is mulling the sale of payments services provider SP.LINKS, looking to fetch about 100 billion Japanese yen ($626 million) from the transaction, Bloomberg reported, citing sources familiar with the matter. Blackstone shares were down more than 5% premarket.

$BX
Sectors

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks were advancing in late Friday afternoon trading, with the NYSE Financial Index rising 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.8%.The Philadelphia Housing Index added 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 0.7%.Bitcoin (BTC-USD) was decreasing 0.2% to $73,361, and the yield for 10-year US Treasuries decreased 1 basis point to 4.445%.In economic news, the Institute for Supply Management's Chicago PMI reading jumped to 62.7 in May from 49.2 in April, larger than the expected 50.3 reading in a survey compiled by Bloomberg and the highest reading in over four years.In corporate news, Blackstone (BX) is selling the US Bank Center in Seattle to office landlord Spear Street Capital for about $280 million, 54% less than what it paid for the building seven years ago, Bloomberg reported. Blackstone shares were up 0.8%.Apollo Global Management (APO) has received the European Commission's approval for its funds under Apollo Capital Management to buy Nippon Sheet Glass, according to a statement. Separately, Apollo-backed Shutterfly is marketing about $1.9 billion in loans and bonds, including $1.15 billion in junk notes, to refinance upcoming maturities, Bloomberg reported. Apollo shares rose 1.4%.UBS (UBS) cut several hundred jobs across its Europe, Middle East and Africa operations in its latest round of reductions linked to the 2023 Credit Suisse takeover, Bloomberg reported. The cuts mainly affected support roles, with some client-facing bankers also impacted, the report said, adding that some employees were offered internal redeployment as UBS works to limit redundancies. UBS shares added 0.8%.Bank of Nova Scotia (BNS) said Friday it has agreed to acquire Maple Financial, the parent company of MapleMark Bank, a US commercial bank with operations mainly in Dallas, Texas. Bank of Nova Scotia shares were up 0.1%.

$APO$BNS$BX$UBS
Sectors

Sector Update: Financial

Financial stocks were advancing in late Friday afternoon trading, with the NYSE Financial Index rising 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.6%.The Philadelphia Housing Index added 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 1%.Bitcoin (BTC-USD) was decreasing 0.2% to $73,361, and the yield for 10-year US Treasuries decreased 1 basis point to 4.445%.In corporate news, Blackstone (BX) is selling the US Bank Center in Seattle to office landlord Spear Street Capital for about $280 million, 54% less than what it paid for the building seven years ago, Bloomberg reported. Blackstone shares were up 0.2%.

$BX
Wire

Market Chatter: Blackstone to Sell Seattle Office Tower at 54% Discount

Blackstone (BX) is selling the US Bank Center in Seattle to office landlord Spear Street Capital for about $280 million, 54% less than what it paid for the building seven years ago, Bloomberg reported Friday, citing people with knowledge of the deal.Deal for the 44-story downtown tower has not closed yet and depends on the availability of financing, according to the report."We believe this sale is the most optimal outcome for our investors and all parties involved," a Blackstone spokesperson said, Bloomberg reported. "Fortunately, US traditional office represents less than 1.5% of our portfolio, and we effectively wrote off this investment in 2023," the spokesperson added.Blackstone and Spear Street Capital 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: $116.85, Change: $+0.71, Percent Change: +0.61%

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Sectors

Sector Update: Financial Stocks Edge Higher Premarket Friday

Financial stocks were edging higher premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% lower.JPMorgan Chase (JPM) and Nomura Holdings (NMR) are among the firms picked by Waaree Energies to manage its planned share sale, which could raise up to $700 million, Bloomberg reported, citing people familiar with the matter. Nomura Holdings shares were up 1% pre-bell.Apollo Global Management (APO) has received the European Commission's approval for its funds under Apollo Capital Management to acquire Nippon Sheet Glass, according to a statement. Apollo Global Management stock was 0.2% higher premarket.Blackstone (BX) is in talks to sell its 45% stake in Leica Camera to Asian investment firm HSG, Bloomberg reported Friday, citing sources familiar with the matter. Shares of Blackstone were 0.3% higher pre-bell.

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Commodities

Exchange-Traded Funds, Equity Futures Rise Pre-Bell Friday Amid US-Iran Deal Hopes

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) was 0.1% higher in Friday's premarket activity amid hopes of a possible US-Iran shipping and ceasefire agreement.US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 0.1% before the start of regular trading.The US advance international trade in goods deficit narrowed to $82.40 billion in April from $85.27 billion in March, according to data released by the US Census Bureau. In the same report, wholesale inventories rose by 0.5% in April after a 1.5% increase in March. Analysts polled by Bloomberg expected wholesale inventories to increase by 0.8%.Chicago PMI data for May will be released at 9:45 am ET.Federal Reserve Vice Chair for Supervision Michelle Bowman is slated to speak on Friday.In premarket activity, bitcoin was down by 1.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.6% higher, Ether ETF (EETH) advanced 2.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 0.9%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1.1%, and the iShares US Technology ETF (IYW) was 1.4% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.8%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.9%, while the iShares Semiconductor ETF (SOXX) rose by 0.6%.Dell (DELL) shares were 34% higher in premarket activity after the company reported fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and fiscal 2027.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.02%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) gained 0.1%, while the State Street SPDR S&P Retail ETF (XRT) declined by 1.6%.Chagee (CHA) shares were up more than 12% pre-bell after the company reported higher Q1 revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.1%, the Vanguard Health Care Index Fund (VHT) advanced by 0.02%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) gained by 0.3%.Agios Pharmaceuticals (AGIO) stock was down more than 5% premarket after the company said it will discontinue development of tebapivat for lower-risk myelodysplastic syndromes following a phase 2b study that failed to meet the company's threshold for further advancement.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced by 0.1%, while the Vanguard Industrials Index Fund (VIS) rose 0.6% and the iShares US Industrials ETF (IYJ) was 0.2% higher.Firefly Aerospace (FLY) shares were more than 5% lower before market open after the company said late Thursday it priced a public offering of 4 million shares, alongside 8 million shares being offered by certain selling stockholders, at $48 per share.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.3%.Solv Energy (MWH) stock was down more than 1% before the opening bell after the company priced an upsized public offering of 15 million Class A common shares at $36 apiece.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.Blackstone (BX) shares were edging 0.2% higher pre-bell after closing the previous session with a 106% decline. Bloomberg reported that the company is in talks to sell its 45% stake in Leica Camera to Asian investment firm HSG.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 1.3% to $87.76 per barrel on the New York Mercantile Exchange. Natural gas was up 5% at $3.04 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 2%, while the United States Natural Gas Fund (UNG) was 1.8% higher.Gold futures for July advanced by 0.6% to $4,561.10 an ounce on the Comex. Silver futures declined by 0.2% to $75.78 an ounce. SPDR Gold Shares (GLD) was up by 0.6%, and the iShares Silver Trust (SLV) fell by 0.2%.

Dow JonesNasdaq CompositeS&P 500$AGIO$BETH$BITO$BX$CHA$DELL$EEM$EETH$EXI$FAS$FAZ$FLY$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MWH$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Wire

Apogee Therapeutics, Blackstone Life Sciences Enter Financing Collaboration of Up to $1.3 Billion

Apogee Therapeutics (APGE) entered a strategic financing collaboration with Blackstone (BX) Life Sciences for up to $1.3 billion in non-dilutive capital to support Phase 3 development and potential commercialization of zumilokibart, the company said Wednesday.The financing consists of up to $800 million in synthetic royalty funding and up to $500 million in senior corporate debt available at the mutual consent of Apogee and Blackstone.Under the agreement, Blackstone will provide royalty financing in exchange for low- to mid-single-digit tiered royalties on global sales of zumilokibart over 15 years, with the first $400 million in preapproval funding paid in staged tranches, including $100 million at signing, $100 million upon completion of Phase 3 enrollment and $200 million upon positive Phase 3 data.Apogee said the deal, along with its $1.3 billion cash balance, is expected to fund the company through commercialization without additional equity financing.Shares of Apogee Therapeutics were down more than 17% in Wednesday premarket trading.

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