Cisco Systems

$CSCO

NASDAQTechnology

68 stories mentioning Cisco SystemsUpdated 14d ago

Trading with the tech sector as the Nasdaq fell to a five-week low on a chip sell-off before snapping a three-day losing streak.

Japan77d ago

US Equity Futures Rise Pre-Bell After S&P 500, Nasdaq Set New Highs Amid US-China Meeting

US equity futures were higher pre-bell Thursday as technology stocks drove new record highs for the S&P 500 and the Nasdaq Composite while traders kept a close eye on the high-stakes meeting between US President Donald Trump and Chinese leader Xi Jinping.Dow Jones Industrial Average futures were 0.7% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.2% higher.On Wednesday, the S&P 500 advanced nearly 0.6% to close at 7,444.25, while the Nasdaq Composite rose 1.2% to end at 26,402.34, with both setting new closing records. Cisco Systems (CSCO) shares were up 15% after the company posted higher fiscal Q3 results and announced restructuring plans that included lay-offs of nearly 4,000 employees.At the start of a two-day summit, Xi told Trump that US-China trade talks were progressing positively, but warned that disagreement over Taiwan could lead to a dangerous situation and even cause conflict.Traders also mulled the latest round of earnings, with Brookfield (BN) reporting higher Q1 distributable earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.4% at $105.24 per barrel and US West Texas Intermediate crude 0.5% lower at $100.56 per barrel.Investors also await the US retail sales bulletin for April, an early view into consumer responses to higher fuel bills, set for release in Washington at 8:30 am ET.The weekly jobless claims bulletin, scheduled for release at 8:30 am ET, is expected to show 205,000 new unemployment claims for the week ended May 9, compared with 200,000 in the prior week, according to estimates compiled by Bloomberg. The April retail sales report is forecast to show a 0.5% gain following a 1.7% increase in the previous month.The April import price index is expected to show a 1% month-over-month increase after a 0.8% gain previously. The export price index is projected to rise 1.2%, compared with a gain of 1.6% previously.Federal Reserve Kansas City President Jeffrey Schmid, Cleveland President Beth Hammack, New York President John Williams, and Governor Michael Barr are slated to speak on Thursday.

Dow JonesNasdaq CompositeS&P 500$BN$CSCO

US Markets77d ago

Equity Futures Rise as Trump, Xi Kick Off High-Stakes Meeting

US equity markets were tracking in the green before the opening bell Thursday as President Donald Trump held talks with his Chinese counterpart, Xi Jinping, at a high-stakes meeting in Beijing.The S&P 500 and the Nasdaq rose 0.2% each in premarket activity, while the Dow Jones Industrial Average added 0.6%. The S&P 500 and Nasdaq reached fresh peaks at Wednesday's close, while the Dow finished lower.Trump and Xi have agreed to develop a "constructive China-US relationship of strategic stability," according to a readout of the summit by the Chinese foreign ministry. "This will provide strategic guidance for China-US relations over the next three years and beyond," the readout showed.The relationship between the two countries is going to be "better than ever before," Trump told Xi in his opening remarks, CNBC reported, citing official broadcast footage.The leaders of the two global economic heavyweights agreed that the crucial Strait of Hormuz should remain open to support global energy flows, multiple news outlets reported. During their talks, Xi showed interest in buying more US oil to reduce China's dependence on the Strait of Hormuz and other Middle East shipping routes, according to news reports.West Texas Intermediate crude oil was down 0.2% at $100.80 a barrel before the open, while Brent was slightly in the red at $105.61.On Wednesday, the International Energy Agency forecast a sharper decline in global oil demand this year than previously expected as the Middle East conflict drives up energy prices. Separately, the Organization of the Petroleum Exporting Countries reduced its global oil demand growth outlook for 2026, but upgraded its projection for next year.Also on Wednesday, official data showed that US producer prices rose at the fastest pace in four years in April as broad-based increases in services and goods signaled intensifying inflation pressures.Treasury yields were down in premarket action, with the two-year rate retreating 2.1 basis points to 3.97% and the 10-year rate off 2.2 basis point to 4.46%.Thursday's economic calendar has the weekly jobless claims bulletin at 8:30 am ET, along with the retail sales and import and export prices reports, both for April.Federal Reserve Governor Michael Barr is scheduled to speak at 7 pm. Kansas City Fed President Jeffrey Schmid, Cleveland Fed President Beth Hammack, and New York Fed President John Williams all speak earlier in the day.On Wednesday, Boston Fed President Susan Collins said she expected the central bank to maintain its current monetary policy stance, describing it as "slightly restrictive."The US Senate confirmed Kevin Warsh's nomination as Fed chair Wednesday. Warsh is Trump's pick for the job, with the term of current central bank chief Jerome Powell set to expire on Friday.Cisco Systems (CSCO) shares jumped 17% pre-bell Thursday. Late Wednesday, Cisco's fiscal third-quarter results exceeded Wall Street's estimates, while the networking equipment maker announced a restructuring plan that involves thousands of layoffs.Marvell Technology (MRVL) added 3.8% pre-bell after closing the previous session with an 8.2% gain.Nvidia (NVDA) was 1.8% higher in premarket activity after Reuters reported that the US has cleared around 10 Chinese firms to buy the technology giant's H200 artificial intelligence chip. However, not a single delivery has been made so far, according to the report.Applied Materials (AMAT) is scheduled to release its latest quarterly financial results after the markets close. Viking (VIK), Klarna (KLAR), Bullish (BLSH) and Yeti (YETI) report before the bell, among others.Gold edged down 0.1% to $4,703 per troy ounce, while bitcoin nudged up 0.1% to $79,599.

Dow JonesNasdaq CompositeS&P 500$AMAT$BLSH$CSCO$KLAR$MRVL$NVDA$VIK$YETI

US Markets78d ago

Nasdaq, S&P 500 Hit Fresh Highs as Tech Stocks Rise

The Nasdaq Composite and the S&P 500 reached fresh peaks on Wednesday, buoyed by a rally in technology stocks ahead of high-stakes talks between US President Donald Trump and his Chinese counterpart, Xi Jinping.The Nasdaq rose 1.2% to 26,402.3 and the S&P 500 climbed 0.6% to 7,444.3. The Dow Jones Industrial Average slipped 0.1% to 49,693.2. Most sectors ended in the green, led by communication services, followed by tech, while utilities saw the steepest decline.Chipmaking giant Nvidia's (NVDA) shares jumped 2.3%, among the best performers on the Dow. Apple (AAPL), Amazon.com (AMZN), and Cisco Systems (CSCO) also advanced. On Semiconductor (ON) shares surged 11%, the second-biggest gainer on the S&P 500.Trump arrived in Beijing Wednesday, accompanied by Nvidia Chief Executive Jensen Huang, Apple's Tim Cook, and Tesla (TSLA) CEO Elon Musk, along with other executives. Trump is set to have talks with Xi on Thursday and Friday, CNBC reported."The trip underscores the stakes for chips, tech, and the (artificial intelligence) supply chain highlighted by Nvidia's most advanced chips, which (have) faced a series of tightening US export restrictions on China sales," Wedbush Securities said in note."We believe that this summit will prove 'constructive' as it keeps the conversation focused on reopening channels where possible rather than allowing the relationship to drift into a more permanent Cold War dynamic that would ultimately slow AI diffusion and cloud monetization on both sides," Wedbush said.US Treasury yields were little changed in Wednesday late-afternoon trade, with the 10-year and two-year rates at 4.48% and 3.99%, respectively.In economic news, US producer prices in April rose at the fastest pace in four years as broad-based increases in services and goods signaled intensifying inflation pressures, official data showed."On the heels of yesterday's disappointing (consumer price index) results, the April producer price report flags intense inflation pressure in the pipeline," BMO Capital Markets said in a note. "Look for another heated consumer inflation report in May, and not solely due to costlier gasoline, as price pressures stemming from the Iran war are bleeding into other sectors of the economy."The central bank last month held rates steady for a third straight meeting and is widely expected to do so again in June, according to the CME FedWatch tool.The US Senate confirmed Kevin Warsh's nomination as Fed chair on Wednesday. Warsh is Trump's pick for the job as the term of current central bank chief Jerome Powell is set to expire on Friday.Boston Fed President Susan Collins expects the central bank to maintain its current monetary policy stance, which she described as "slightly restrictive.""More than five years of above-target inflation has reduced my patience for 'looking through' another supply shock," Collins said in prepared remarks on Wednesday. "And while it is notin my most likely outlook, I could envision a scenario in which some policy tightening is needed to ensure that inflation returns durably to 2% in a timely manner."West Texas Intermediate crude was last down 0.9% at $101.27 a barrel, while Brent fell 1.8% to $105.85.The International Energy Agency forecast a sharper decline in global oil demand this year than previously expected as the Middle East conflict drives up energy prices."More than 10 weeks after the war in the Middle East began, mounting supply losses from the Strait of Hormuz are depleting global oil inventories at a record pace," according to the report.Separately, the Organization of the Petroleum Exporting Countries reduced its global oil demand growth outlook for 2026, but upgraded its projection for next year.Trump recently rejected Iran's counteroffer to end the war, though a fragile ceasefire between the two countries still holds.In company news, Wix.com (WIX) logged a larger-than-expected annual decline in its first-quarter earnings, while the Israeli web development platform maintained its full-year outlook. The company's US-listed shares tanked 27%.Gold was last up 0.2% at $4,694.70 per troy ounce, while silver climbed 3% to $88.18 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$CSCO$NVDA$ON$TSLA$WIX

Asia Markets78d ago

US Equity Indexes Mixed as Communication Services, Tech Help Outweigh Impact of Hot Producer Prices

US equity indexes closed mixed on Wednesday, as communication services and technology led sectors amid the fastest annual pace of growth in producer prices in four years, signaling the strength of the so-called AI trade.The Dow Jones Industrial Average fell 0.1% to 49,693.20. The Nasdaq jumped 1.2% to 26,402.34, and the S&P 500 climbed 0.6% to 7,444.25.In a broadly positive tape, communication services, technology, and consumer discretionary were among the top gainers. Utilities, financials, real estate, and industrials declined.Of the top 10 companies with a market capitalization of more than $200 billion, implying a significant sway over indexes, seven were from technology and communication services, according to data compiled by Finviz. Nasdaq's leaders included Marvell Technology (MRVL), Arm (ARM), and Micron Technology (MU). In the S&P 500, ON Semiconductor (ON) and Hewlett-Packard Enterprise (HPE) were among the biggest outperformers. Nvidia (NVDA) and Cisco (CSCO) were in the top five gainers on the Dow.In economic news, the Producer Price Index soared 1.4% month-over-month in April from a 0.7% gain in March, according to the Bureau of Labor Statistics. The print beat the 0.5% increase expected in a Bloomberg-compiled survey. After excluding food and energy prices, core PPI surged 1.0% from 0.2%, above the 0.3% advance anticipated.Year-over-year, PPI soared 6.0% in April while core PPI catapulted 5.2%, both above their respective March rates and the strongest readings since December 2022.A hotter-than-expected PPI, coupled with Tuesday's larger-than-expected rise in the consumer price index, underscores not only the price impact already realized but the "additional inflationary pressures still coming down the pipeline," according to a Stifel note.With energy cost passthrough likely to keep year-over-year core personal consumption expenditures, or PCE, inflation closer to 3% than 2% all year, Goldman Sachs said in a note that lower monthly inflation prints after the oil shock fades and further labor market softening will likely be needed for Fed rate cuts this year."We now expect it to take a bit longer to meet that bar," the investment bank said while pushing back the final two rate cuts in its forecast to December 2026 and March 2027.US Treasury yields were mostly down, with the 10-year steady to slightly lower at 4.47%.The two-year slipped 1.5 basis points to 3.98%.Meanwhile, in its closely watched Oil Market Report, the International Energy Agency said the loss of Persian Gulf supply is depleting global inventories at a record pace. Inventories fell by 129 million barrels per day in March and by 117 million bpd in April, though rising output from producers outside of the Gulf is helping to ease the supply shock."With Hormuz tanker traffic still restricted, cumulative supply losses from Gulf producers already exceed 1 billion barrels with more than 14 mb/d of oil now shut in, an unprecedented supply shock," the agency said.Nevertheless, West Texas Intermediate crude oil futures fell 0.9% to $101.29, and Brent crude futures declined 1.8% to $105.81.In precious metals, gold futures rose 0.3% to $4,696.2, and silver futures jumped 3.1% to $88.27.

Dow JonesNasdaq CompositeS&P 500$ARM$CSCO$HPE$MRVL$MU$NVDA$ON

Research78d ago

Research Alert: Cisco Systems Delivers Record Results Fueled By Ai And Networking Refresh

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:CSCO delivered exceptional Q3 FY 26 results with revenue surging 12% Y/Y to a record $15.8B and non-GAAP EPS of $1.06 representing 10% growth, significantly exceeding guidance across all metrics. The standout Networking segment posted 25% Y/Y growth to $8.8B driven by AI infrastructure investments, while product orders accelerated 35% Y/Y with networking orders up over 50%. However, Security remained flat at $2.0B, marking concerning deceleration from recent double-digit growth rates. Management raised AI infrastructure expectations to $9B orders and $4B revenue for FY 26, up from $5B and $3B, respectively, with Q4 guidance of $16.7B-$16.9B revenue and $1.16-$1.18 EPS. We believe CSCO's increasingly prominent role in AI-driven infrastructure transformation provides solid foundation for continued growth, though we note the uneven demand across segments with Security weakness highlighting competitive intensity in cybersecurity markets.

$CSCO

US Markets78d ago

Cisco Systems Tops Third-Quarter Views, Announces Layoffs

Cisco Systems' (CSCO) fiscal third-quarter results exceeded Wall Street's estimates, while the networking equipment maker announced a restructuring plan that involves thousands of layoffs.For the quarter ended April 25, Cisco's adjusted EPS increased to $1.06 from $0.96 a year ago, topping the FactSet-polled consensus of $1.03. Revenue grew 12% to $15.84 billion, ahead of the Street's $15.56 billion view."Cisco delivered record quarterly revenue in (the third quarter) and we saw very strong, broad-based demand for our products, demonstrating the relevance of our technology for connecting and securing (artificial intelligence)," Chief Executive Chuck Robbins said in a statement.Product sales climbed 17% to $12.12 billion, while services revenue dropped 1% to $3.72 billion.Cisco highlighted "significant momentum and raised expectations for AI infrastructure from hyperscalers."The company would reduce its workforce by "fewer than" 4,000 people, reflecting less than 5% of the total employee base, Robbins said in a staff memo shared on the company's website.The move is part of a restructuring plan aimed at enabling the company to invest in growth opportunities, including silicon, optics, security and AI."The companies that will win in the AI era will be those with focus, urgency, and the discipline to continuously shift investment toward the areas where demand and long-term value creation are strongest," Robbins said. "I'm confident Cisco will be one of those winners. This means making hard decisions -- about where we invest, how we're organized, and how our cost structure reflects the opportunity in front of us."Cisco shares jumped 15% in after-hours trading. The stock is up 32% so far this year as of Wednesday close.The company expects to record pre-tax restructuring charges of up to $1 billion, mostly consisting of severance and other one-time termination benefits. Some $450 million of these will be recorded in the fiscal fourth quarter.Cisco forecasts adjusted EPS between $1.16 and $1.18 for the ongoing three-month period, while revenue is pegged at $16.7 billion to $16.9 billion. The Street is looking for non-GAAP EPS of $1.08 and sales of $15.82 billion.Cisco now expects adjusted EPS of $4.27 to $4.29 for fiscal 2026, up from the previous guidance of $4.13 to $4.17. Revenue is projected to come in at $62.8 billion to $63 billion, versus the prior outlook of $61.2 billion to $61.7 billion. The market's forecast is for non-GAAP EPS of $4.16 and sales of $61.59 billion.

$CSCO

Wire78d ago

Cisco Systems Fiscal Q3 Adjusted Earnings, Revenue Rise; Shares Jump After Hours

Cisco Systems (CSCO) reported fiscal Q3 adjusted earnings late Wednesday of $1.06 per diluted share, up from $0.96 a year earlier.Analysts polled by FactSet expected $1.03.Revenue in the three months ended April 25 rose to $15.8 billion from $14.1 billion a year earlier.Analysts surveyed by FactSet expected $15.6 billion.Cisco expects Q4 adjusted EPS of $1.16 to $1.18 on revenue of $16.7 billion to $16.9 billion. Analysts project EPS of $1.08 on revenue of $15.8 billion.The company boosted its full-year guidance to adjusted EPS of $4.27 to $4.29 on revenue of $62.8 billion to $63 billion. The prior forecast was EPS of $4.13 to $4.17 on revenue of $61.2 billion to $61.7 billion.Analysts project EPS of $4.16 on revenue of $61.6 billion.Cisco shares jumped 13% in after-hours trading.

$CSCO

Wire78d ago

GUIDANCE: (CSCO) Cisco Systems Expects Fiscal 2026 Adjusted EPS Range $4.27-$4.29, vs. FactSet Est of $3.37

$CSCO

Wire78d ago

GUIDANCE: (CSCO) Cisco Systems Expects Fiscal 2026 Revenue Range $62.8B-$63.0B, vs. FactSet Est of $61.59B

$CSCO

Japan78d ago

US Equity Indexes Mixed as Communication Services, Tech Gains Offset Impact of Hot Producer Prices

US equity indexes were mixed ahead of Wednesday's close as communication services and technology topped sector charts, while producer prices grew at the fastest annual pace in four years.The Dow Jones Industrial Average fell 0.1% to 49,707.1, trading off session lows. The Nasdaq jumped 1.3% to 26,435.3, and the S&P 500 climbed 0.7% to 7,452.8 in the final leg of trading. Utilities, financials, real estate, and industrials declined. In a broadly positive tape, communication services, technology, and consumer discretionary were among the top gainers.Of the top 10 companies with a market capitalization of more than $200 billion, implying a significant sway over indexes, seven were from technology and communication services. Nasdaq's leaders included Marvell Technology (MRVL), Arm (ARM), and Micron Technology (MU). In the S&P 500, ON Semiconductor (ON) and Hewlett-Packard Enterprise (HPE) were among the biggest outperformers. Nvidia (NVDA) and Cisco (CSCO) were in the top five gainers on the Dow.In economic news, the US Producer Price Index soared 1.4% month-over-month in April from a 0.7% gain in March, according to the Bureau of Labor Statistics. The print beat the 0.5% increase expected in a Bloomberg-compiled survey. After excluding food and energy prices, core PPI surged 1.0% from 0.2%, above the 0.3% advance anticipated.Year-over-year, PPI soared 6.0% in April while core PPI catapulted 5.2%, both above their respective March rates and the strongest readings since December 2022.A hotter-than-expected PPI, coupled with Tuesday's larger-than-expected rise in the consumer price index, underscores not only the price impact already realized but the "additional inflationary pressures still coming down the pipeline," according to a Stifel note.US Treasury yields were mostly lower, with the 10-year steady at 4.47% while the two-year slipped 1.5 basis points to 3.98%.

Dow JonesNasdaq CompositeS&P 500$ARM$CSCO$HPE$MRVL$MU$NVDA$ON

Wire78d ago

Equities Mostly Rise Intraday Amid Tech Boost, With Trump's China Visit in Focus

US benchmark equity indexes were mostly higher intraday as several key technology stocks advanced, while President Donald Trump landed in China for a high-stakes state visit.The Nasdaq Composite was up 1.2% at 26,405.4 after midday Wednesday, while the S&P 500 rose 0.6% to 7,448.4. The Dow Jones Industrial Average fell 0.3% to 49,616.8. Among sectors, communication services paced the gainers, followed by tech, while utilities saw the steepest decline.Chipmaking giant Nvidia's (NVDA) shares were up 2.7%, the second-best performer on the Dow. Other major tech stocks Apple (AAPL), Amazon.com (AMZN), and Cisco Systems (CSCO) were also in the green. Cisco is scheduled to report its latest quarterly financial results after the closing bell Wednesday.On Semiconductor (ON) shares jumped 10% intraday, the second-biggest gainer on the S&P 500.Trump reportedly arrived in Beijing Wednesday for a highly anticipated meeting with his Chinese counterpart, Xi Jinping."The trip underscores the stakes for chips, tech, and the (artificial intelligence) supply chain highlighted by Nvidia's most advanced chips, which (have) faced a series of tightening US export restrictions on China sales," Wedbush Securities said in note.Nvidia Chief Executive Jensen Huang, Apple's Tim Cook, and Tesla (TSLA) CEO Elon Musk are accompanying Trump on the visit, along with other top US tech executives, according to media reports."We believe that this summit will prove 'constructive' as it keeps the conversation focused on reopening channels where possible rather than allowing the relationship to drift into a more permanent Cold War dynamic that would ultimately slow AI diffusion and cloud monetization on both sides," Wedbush said.US Treasury yields were mixed intraday, with the 10-year rate up 1.1 basis points at 4.48% and the two-year rate little changed at 4%.In economic news, US producer prices in April rose at the fastest pace in four years as broad-based increases in services and goods signaled intensifying inflation pressures, official data showed."On the heels of yesterday's disappointing (consumer price index) results, the April producer price report flags intense inflation pressure in the pipeline," BMO Capital Markets said in a note. "Look for another heated consumer inflation report in May, and not solely due to costlier gasoline, as price pressures stemming from the Iran war are bleeding into other sectors of the economy."West Texas Intermediate crude was down 0.3% at $101.84 a barrel intraday, while Brent fell 1.5% to $106.21.The International Energy Agency forecast a sharper decline in global oil demand this year than previously expected as the Middle East conflict drives up energy prices."More than 10 weeks after the war in the Middle East began, mounting supply losses from the Strait of Hormuz are depleting global oil inventories at a record pace," according to the report.Separately, the Organization of the Petroleum Exporting Countries reduced its global oil demand growth outlook for 2026, but upgraded its projection for next year.Trump recently rejected Iran's counteroffer to end the war, though a fragile ceasefire between the two countries still holds. Trump recently told reporters that "we have Iran very much under control.""That control, however, does not extend to the Strait of Hormuz, which remains effectively closed with both Iran and the US maintaining naval blockades," Saxo Bank said in a report Wednesday.In company news, Wix.com (WIX) logged a larger-than-expected annual decline in its first-quarter earnings, while the Israeli web development platform maintained its full-year outlook. The company's US-listed shares tanked nearly 26% intraday.Gold was up 0.4% at $4,705.80 per troy ounce, while silver climbed 4.8% to $89.69 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$CSCO$NVDA$ON$TSLA$WIX

US Markets78d ago

Stocks Mostly Up Pre-Bell Ahead of PPI Data; Trump's China Visit in Focus

The main US stock measures were mostly pointing higher in Wednesday's premarket activity as traders await the latest data on wholesale prices and focus on President Donald Trump's visit to China.The S&P 500 rose 0.3% and the Nasdaq added 0.8% before the opening bell, while the Dow Jones Industrial Average declined 0.2%. The S&P 500 and Nasdaq finished Tuesday trading in the red, while the Dow closed higher for the third consecutive session.Last month's producer price index, a measure of wholesale prices, is scheduled to be released at 8:30 am ET. The report follows Tuesday's data that showed annual consumer inflation accelerated in April to the fastest pace in almost three years, as energy prices surged amid the near-complete closure of the Strait of Hormuz."The unfavorable and larger-than-expected jump in core prices shows pressures are now spreading beyond energy, transportation, and food, into larger categories such as services and housing," Scott Anderson, chief US economist at BMO, said in a report. "If the energy price shock doesn't subside soon, we can expect more of the same in the months ahead."Treasury yields were moving down before the open, with the two-year rate retreating 1.3 basis points to 3.98% and the 10-year rate off 1 basis point to 4.46%.Trump is set to land in Beijing on Wednesday for a highly anticipated summit with Chinese President Xi Jinping. The US leader reportedly said he will have a "long talk" about the Iran war with his Chinese counterpart, though he downplayed the idea he would want China to play a role in ending the conflict.Trump is now more seriously considering restarting military operations against Iran than he has in recent weeks, CNN reported, citing his aides.West Texas Intermediate crude oil decreased 0.7% to $101.48 a barrel in premarket action, while Brent slipped 0.4% to $107.41.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am, followed by the EIA domestic petroleum inventories report at 10:30 am.Federal Reserve Bank of Boston President Susan Collins is slated to speak at 11:30 am, while Minneapolis Fed President Neel Kashkari speaks at 1:15 pm. Dallas Fed President Lorie Logan's remarks are due at 7 pm.Chicago Fed President Austan Goolsbee reportedly said Tuesday that inflation data on the services side was "unexpectedly disappointing."Chinese e-commerce giant Alibaba (BABA) is expected to release its latest financial results before the bell, among others. Cisco Systems (CSCO) posts earnings after the markets close.Gold inclined 0.5% to $4,711 per troy ounce, while bitcoin gained 0.4% to $81,098.

Dow JonesNasdaq CompositeS&P 500$BABA$CSCO

US Markets80d ago

S&P 500, Nasdaq Reach New Peaks as Traders Track US-Iran Conflict

The S&P 500 and the Nasdaq Composite hit fresh highs on Monday as traders continued to track developments in the Middle East that sent oil prices rising.The S&P 500 rose 0.2% to 7,412.8, while the Nasdaq added 0.1% to 26,274.1 -- both logging new closing highs. The Dow Jones Industrial Average climbed 0.2% to 49,704.5.Six of the 11 sectors ended in the green, led by energy, while communication services saw biggest drop.West Texas Intermediate crude was last up 3% to $98.25 a barrel, while Brent advanced 2.9% to $104.23.US President Donald Trump on Sunday rejected Iran's counteroffer to end the war, extending uncertainty around oil flows through the Strait of Hormuz.The US-Iran ceasefire is on "massive life support" and "unbelievably weak," news outlets reported Monday, citing Trump.Iran's proposal, delivered via mediator Pakistan, sought an immediate end to hostilities, the lifting of the US naval blockade of its ports and assurances against further aggression, BBC News reported, citing Iran's semi-official Tasnim news agency.Trump is scheduled to arrive in China Wednesday for a high-stakes state visit, with talks set to take place Thursday and Friday."The US will want China to use its influence with Tehran, especially because China is a major buyer of Iranian oil," Saxo Bank Chief Investment Strategist Charu Chanana said in a report Monday. "China, meanwhile, wants energy security and stable shipping lanes, but it is unlikely to appear as if it is acting under US instruction."US Treasury yields were higher, with the 10-year rate up 5.6 basis points at 4.42% and the two-year rate rising 6.7 basis points to 3.96%.Some 89% of S&P 500 companies have reported quarterly results in the latest cycle, with earnings up about 25% from a year earlier and revenue rising 10%, Oppenheimer Asset Management said in a note. Ahead of the earnings season, FactSet put expected earnings growth at 12.6% year over year."Notwithstanding the recent powerful rallies in stocks driven by earnings growth and better than expected US economic data over the past week, challenges remain to finding resolution to the conflict in the Middle East," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said.Cisco Systems (CSCO) and Applied Materials (AMAT) are among the major names scheduled to report this week.Nvidia (NVDA) rose 2%, among the best performers on the Dow, while Qualcomm (QCOM) jumped 8.4%, among the biggest gainers on the S&P 500.Lumentum (LITE) shares surged nearly 17%, the top gainer on the S&P 500, after the company said it is set to join the Nasdaq-100 index, effective May 18.Trade Desk (TTD) shares slumped 6.8%, among the worst performers on the S&P 500, after HSBC downgraded the stock to reduce from hold while adjusting its price target to $20 from $31.Fox (FOX, FOXA) reported a surprise increase in quarterly earnings, while the media company's revenue topped estimates amid distribution growth. Fox's class A and B shares rose 7.6% and 8.1%, respectively.In economic news, US existing home sales increased less than projected in April, data from the National Association of Realtors showed."Despite mixed macroeconomic signals -- including a record-high stock market and historically low consumer confidence -- home sales were modestly boosted by the continued improvement in housing affordability," NAR Chief Economist Lawrence Yun said.Gold was last up 0.3% at $4,744.50 per troy ounce, while silver jumped 7.1% to $86.61 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMAT$CSCO$FOX$FOXA$LITE$NVDA$QCOM$TTD

US Markets80d ago

Equities Rise Intraday, Oil Jumps as Markets Montior Middle East Developments

US benchmark equity indexes were higher intraday as traders appeared to shake off worries about the Middle East conflict and higher oil prices.The S&P 500 was up 0.3% at 7,421.2 after midday Monday, while the Dow Jones Industrial Average and the Nasdaq Composite rose 0.2% each to 49,691.7 and 26,308.6, respectively. Among sectors, energy paced the gainers, while communication services saw biggest drop.West Texas Intermediate crude jumped 3.7% to $98.98 a barrel, while Brent advanced 3.5% to $104.87, as US President Donald Trump rejected Iran's counteroffer to end the war, extending uncertainty around oil flows through the Strait of Hormuz.The US-Iran ceasefire is on "massive life support" and "unbelievably weak," news outlets reported Monday, citing Trump. On Sunday, Trump described Iran's response to Washington's peace proposal as "totally unacceptable."Iran's proposal, delivered via mediator Pakistan, sought an immediate end to hostilities, the lifting of the US naval blockade of its ports and assurances against further aggression, BBC News reported, citing Iran's semi-official Tasnim news agency."While optimism for an imminent deal is fading, there remains a glimmer of hope that talks between Trump and Chinese President Xi (Jinping) later this week could yield positive results on Iran," ING Bank said in a note Monday.Trump is scheduled to arrive in China Wednesday for a high-stakes state visit, with talks set to take place Thursday and Friday.US Treasury yields were higher intraday Monday, with the 10-year rate up 4.7 basis points at 4.41% and the two-year rate rising 4.2 basis points to 3.94%.In company news, some big technology names were advancing, with Nvidia (NVDA) up 2.6%, the second-biggest gainer on the Dow. Micron (MU) and Qualcomm (QCOM) also saw sizable gains.Some 89% of S&P 500 companies have reported quarterly results in the latest cycle, with earnings up about 25% from a year earlier and revenue rising 10%, Oppenheimer Asset Management said in a note. Ahead of the earnings season, FactSet put expected earnings growth at 12.6% year over year.Cisco Systems (CSCO) and Applied Materials (AMAT) are among the major names scheduled to report this week.Lumentum (LITE) shares surged 17% intraday Monday, the top gainer on the S&P 500, after the company said it is set to join the Nasdaq-100 index, effective May 18.Trade Desk (TTD) shares were down 7.1%, the worst performer on the S&P 500, after HSBC downgraded the stock to reduce from hold while adjusting its price target to $20 from $31.In economic news, US existing home sales increased less than projected in April, data from the National Association of Realtors showed."Despite mixed macroeconomic signals -- including a record-high stock market and historically low consumer confidence -- home sales were modestly boosted by the continued improvement in housing affordability," NAR Chief Economist Lawrence Yun said.Gold was down 0.2% at $4,722.50 per troy ounce, while silver jumped 6.2% to $85.90 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMAT$CSCO$LITE$MU$NVDA$QCOM$TTD

US Markets80d ago

S&P 500 Companies' Quarterly Profit Growth Slows, But Remains Strong, Oppenheimer Says

S&P 500 companies' quarterly earnings growth slowed compared with figures from a week ago, but remained well ahead of Wall Street's expectations heading into the reporting season, Oppenheimer Asset Management said Monday.Some 89% of companies in the benchmark equity index have reported results in the latest cycle, with earnings up about 25% from a year earlier and revenue rising 10%.Last week's report by the brokerage showed profit and revenue growth at about 28% and 11%, respectively, based on financials reported by 63% of the index constituents.Ahead of the earnings season, FactSet put expected earnings growth at 12.6% from a year earlier, Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said.Among sectors, consumer discretionary and communication services outperformed in terms of earnings, with profits up by about 48% and 47% year over year, respectively. Technology led the chart for revenue growth, with a 23% increase, followed by communication services' 15% jump.Nine S&P 500 companies are scheduled to report results this week, Stoltzfus said. They include Cisco Systems (CSCO) and Applied Materials (AMAT).On Friday, the S&P 500 and the Nasdaq Composite reached new all-time highs, marking the sixth consecutive weekly advance for both indexes.US President Donald Trump on Sunday rejected an Iranian counterproposal to end the war, extending uncertainty around oil flows through the Strait of Hormuz."Notwithstanding the recent powerful rallies in stocks driven by earnings growth and better than expected US economic data over the past week, challenges remain to finding resolution to the conflict in the Middle East," Stoltzfus said. "That conflict, in our view remains as a potential negative overhang to market performance. In addition, the high price of oil and supply chain disruptions add to inflation risks near term."Price: $97.67, Change: $+1.10, Percent Change: +1.14%

$AMAT$CSCO

Asia Markets80d ago

US Equity Futures Slightly Lower Pre-Bell as Trump Rejects Iran's Response to Peace Proposal, Oil Prices Rise

US equity futures were marginally lower pre-bell Monday as President Donald Trump rejected Iran's response to the US peace proposal, sending oil prices higher amid concerns that the closure of the Strait of Hormuz would be prolonged.Dow Jones Industrial Average futures were flat, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% lower.Trump said in a post on Truth Social that he found Iran's response "totally unacceptable." Iran's response had included a demand for war reparations, an end to sanctions, full sovereignty over the Strait of Hormuz, and the release of frozen Iranian assets, the country's state media had said.Energy firm Constellation Energy (CEG) was one of the first companies to kick off earnings this week, posting higher Q1 adjusted earnings and revenue. Among the companies reporting financial results this week are Petrobras (PBR), Cisco Systems (CSCO), Alibaba Group (BABA), Applied Materials (AMAT), and Brookfield (BN).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.8% at $104.11 per barrel and US West Texas Intermediate crude 2.9% higher at $98.16 per barrel.Existing home sales report, scheduled for release at 10 am ET, is expected to show an increase of 2% for April after a decline of 3.6% in the prior month, according to estimates compiled by Bloomberg.In other world markets, Japan's Nikkei closed 0.5% lower, Hong Kong's Hang Seng ended 0.1% higher, and China's Shanghai Composite finished 1.1% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, Palantir Technologies (PLTR) stock was down 2.2% after the company's external staff and other consultants were provided unrestricted entry to identifiable medical records by the UK's National Health Service, according to a Financial Times report citing an internal briefing note.On the winning side, Intel (INTC) shares rose 5.2% after the company and Apple (AAPL) reached a preliminary agreement under which the chipmaker will make some of the chips powering Apple devices, according to a Wall Street Journal report on Friday. Barrick Mining (B) shares were up 3% after the company reported higher Q1 adjusted earnings and revenue. The mining firm also reduced its quarterly dividend and authorized a $3 billion share repurchase program. Constellation Energy (CEG) stock was up 1.3% after the company reported its Q1 financial results.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMAT$B$BABA$BN$CEG$CSCO$INTC$PBR$PLTR

Japan80d ago

US Equity Futures Largely Flat Pre-Bell as Trump Rejects Iran's Response to Peace Proposal, Oil Prices Rise

US equity futures were largely flat pre-bell Monday as President Donald Trump rejected Iran's response to the US peace proposal, sending oil prices higher amid concerns that the closure of the Strait of Hormuz would be prolonged.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were flat, and Nasdaq futures were 0.1% higher.Trump said in a post on Truth Social that he found Iran's response "totally unacceptable." Iran's response had included a demand for war reparations, an end to sanctions, full sovereignty over the Strait of Hormuz, and the release of frozen Iranian assets, the country's state media had said.Energy firm Constellation Energy (CEG) was one of the first companies to kick off earnings this week, posting higher Q1 adjusted earnings and revenue. Among the companies reporting financial results this week are Petrobras (PBR), Cisco Systems (CSCO), Alibaba Group (BABA), Applied Materials (AMAT), and Brookfield (BN).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.5% at $103.82 per barrel and US West Texas Intermediate crude 2.5% higher at $97.77 per barrel.Existing home sales report, scheduled for release at 10 am ET, is expected to show an increase of 2% for April after a decline of 3.6% in the prior month, according to estimates compiled by Bloomberg.

Dow JonesNasdaq CompositeS&P 500$AMAT$BABA$BN$CEG$CSCO$PBR

Asia Markets80d ago

US Equity Investors to Focus on Inflation Data, Geopolitics This Week as Earnings Slow

US equity investors will look out for consumer price inflation as hopes diminish for a return to Iran peace talks and as quarterly earnings trickle down.* The CPI on Tuesday and producer prices on Wednesday will reveal estimates for the Federal Reserve's preferred personal consumption expenditures, or PCE, inflation gauge on May 28, Scotiabank said in a note late Friday. Jerome Powell's term as Fed Chair is due to come to an end on Friday.* "More important is that after the initial energy shock to March inflation readings, April will start the long period of evaluating potential second round passthrough effects into core prices," the note said. "Keep a close eye on the breadth of price increases that has been on an upswing long predating the war and with further upside likely."* Other macroeconomic data due this week includes April's retail sales and existing home sales.* West Texas Intermediate crude oil futures jumped 2.3% to $97.94, and Brent crude futures climbed 2.5% to $103.82 early Monday. US Treasury yields also advanced, with the 10-year up 2.6 basis points to 4.39% and the two-year higher by 3.1 basis points to 3.92%.* Crude oil prices rose on Monday after President Donald Trump said Iran's response to its proposal for a halt to the war was "unacceptable."* "Oil price dynamics remain crucial for bond markets and should set a bearish tone at the start of the week," Commerzbank's Hauke Siemssen and Erik Liem was cited as saying in a report from The Wall Street Journal.* Quarterly earnings due this week include Cisco Systems (CSCO) and Applied Materials (AMAT). Tech earnings, especially the so-called AI trade, have helped investors offset the detrimental impact of the Iran war on oil prices and mounting concerns related to inflation, which has in turn pushed up bond yields.* President Donald Trump will visit China this week for a summit with his counterpart, Xi Jinping.

Dow JonesNasdaq CompositeS&P 500$AMAT$CSCO

Wire84d ago

Extreme Networks Positioned for Market-Share Gains Amid AI Push, Oppenheimer Says

Extreme Networks (EXTR) unveiled one of its "most ambitious product cycles" in years at its annual Connect conference, with its expanding artificial intelligence-driven networking platform and improving competitive position could support "accelerating revenue growth" and market-share gains, Oppenheimer said in a report emailed Thursday.Platform ONE is "exceeding expectations" within 10 months of launch, with new support for third-party devices expected to help customers migrate from "legacy vendors" while strengthening its position in cloud-managed networking, the report said.The company introduced Agent ONE, an AI-powered "upgrade" to Platform ONE, while also launching the Extreme Exchange, an "AI skills marketplace," the report noted.The company also "broadened" its Wi-Fi 7 portfolio and added Cloud PKI security capabilities that will pull in security spend to the networking platform.The firm noted channel checks suggesting that stabilizing post-COVID pricing trends, and improving "pricing power" should accelerate revenue growth into next year. Also, supply constraints and price increases at Cisco Systems (CSCO) could create a "major opportunity" for Extreme Networks to gain market share, Oppenheimer said.Oppenheimer has an outperform rating on Extreme Networks, with a price target of $25.Price: $23.43, Change: $-0.11, Percent Change: -0.47%

$CSCO$EXTR

US Markets86d ago

Nasdaq, S&P 500 Hit Fresh Peaks as Oil Retreats

The Nasdaq Composite and the S&P 500 advanced to new highs on Tuesday as oil prices pulled back, while traders digested a fresh batch of corporate earnings reports.The Nasdaq rose 1% to 25,326.1, while the S&P 500 climbed 0.8% to 7,259.2, both marking their highest finish ever. The Dow Jones Industrial Average advanced 0.7% to 49,298.3.All sectors ended in the green, led by materials followed by technology. Intel (INTC), Micron Technology (MU), Apple (AAPL), and Cisco Systems (CSCO) were among the tech names that logged gains on Tuesday.West Texas Intermediate crude fell 3.4% to $102.81 per barrel in afternoon trading, while Brent shed 3.6% to $110.31.US Defense Secretary Pete Hegseth reportedly said that the ceasefire agreement with Iran remained intact despite renewed tensions in the Gulf region.The comment came a day after Tehran fired missiles and drones at the United Arab Emirates, reigniting concerns about the fragile ceasefire between the US and Iran.The US military destroyed six Iranian boats in the Strait of Hormuz on Monday after Tehran attacked US Navy ships and commercial vessels, CNN reported, citing Admiral Brad Cooper, the head of the US Central Command. A senior Iranian military official reportedly disputed that claim.US Treasury yields were lower, with the 10-year rate down 2.1 basis points at 4.42% and the two-year rate falling 1.6 basis points to 3.95%.In company news, Pinterest (PINS) shares jumped 6.8%. The image-sharing platform company posted better-than-expected first-quarter results late Monday and forecast up to 16% revenue growth year over year for the ongoing three-month period.Shopify (SHOP) on Tuesday issued a second-quarter revenue outlook that implied a sequential slowdown in annual growth. The stock slid nearly 16%.PayPal (PYPL) shares slumped 7.8% after the payments company said it was targeting at least $1.5 billion in cost cuts over the next few years, while it maintained its full-year earnings outlook.Palantir Technologies (PLTR) shares dropped 6.9%, despite the software maker raising its 2026 revenue outlook and first-quarter results topping Wall Street's expectations.In economic news, two surveys released Tuesday painted a mixed picture of the US services sector in April, with Institute for Supply Management data showing a deceleration in growth and an S&P Global (SPGI) report indicating a return to expansion."The services sector continues to expand, but the sharp cooling in new orders alongside still-subdued employment momentum suggests growth may be becoming less durable," TD Economics Senior Economist Vikram Rai said in a note.On Friday, ISM and S&P surveys showed that the US manufacturing sector saw continued growth in April, though inflationary pressures intensified amid disruptions caused by the Middle East conflict.New-home sales in the US grew past Wall Street's estimates for March, driven by a demand surge in the Northeast region, government data showed.Gold rose 0.8% to $4,568.70 per troy ounce, while silver lost 0.3 % to $73.30 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$CSCO$INTC$MU$PINS$PLTR$PLYPL$SHOP$SPGI

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