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Dell Technologies

Dell Technologies

$DELL
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Dell shares fell amid a sharp technology sell-off that sent the Nasdaq Composite to a five-week low.

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Baldwin Agrees to Go Private in $7.7 Billion Deal Involving Dell CEO's Family Investment Firm
US Markets

Baldwin Agrees to Go Private in $7.7 Billion Deal Involving Dell CEO's Family Investment Firm

Baldwin Insurance (BWIN) has agreed to be acquired and taken private by a consortium that includes the family investment firm of Dell Technologies (DELL) Chief Executive Michael Dell, in a deal worth $7.7 billion.Sequence Holdings and Michael Dell's DFO Management are poised to set up a new company that will buy a majority stake in insurance distribution firm Baldwin, according to a joint statement released Monday.Shareholders of Baldwin will receive $32.50 a share in cash, representing a premium of about 88% to the company's closing price on June 17, the last trading day before media speculation began that it was looking at a potential deal to go private. The overall consideration comprises $4.6 billion in equity valuation and roughly $3.1 billion of debt.Baldwin's stock climbed 7.4% in Monday trade, taking its year-to-date gain to 33%. Sequence acquires companies in the service economy."This transaction allows us to deliver immediate value to shareholders while establishing a partnership with Sequence and DFO that will give Baldwin the long-duration capital and frontier (artificial intelligence) execution to invest and move at the pace this moment demands," Baldwin CEO Trevor Baldwin said in the statement.The deal, which requires approval from Baldwin's shareholders and regulatory clearance, is expected to close in the first quarter of 2027. Following completion, Baldwin will no longer trade on the Nasdaq, while its eligible colleagues will retain a "significant" minority stake in the firm, according to the statement.DFO is partnering with Sequence to support Baldwin's next chapter with capital, as well as engineering and operational expertise, according to Michael Dell.Sequence CEO Michael Lee said the firm plans to work with Baldwin's team to rebuild its products and services around new technological capabilities.Baldwin reported second-quarter adjusted earnings of $0.48 a share at the end of July, up 14% from the year before. Revenue advanced 30% to $492.9 million. In a note at the time, UBS Securities said the company's results were generally in line with expectations, as it continued to integrate recent acquisitions and partnerships.In May, Baldwin expanded its partnership with Anthropic to deploy the AI startup's Claude chatbot across its segments and functional business groups. In January, Baldwin completed its merger with specialty and middle-market insurance brokerage firm CAC Group.At the end of August, Aon (AON) agreed to acquire insurance brokerage USI Insurance Services from KKR (KKR) and other shareholders in an all-cash deal worth roughly $17 billion, as part of its efforts to strengthen its presence in the US middle-market insurance segment.Price: $31.95, Change: $+2.30, Percent Change: +7.74%

$AON$BWIN$DELL$KKR
Update: Wall Street Rises at End of Losing Week Amid Inflation Worries
US Markets

Update: Wall Street Rises at End of Losing Week Amid Inflation Worries

(Updates with market moves at the end of the day, and other changes, if any.)US stocks rose Friday after a four-day slump to trim weekly losses, even as expectations grew that the Federal Reserve will hike interest rates as soon as next week amid mounting inflation concerns.The Dow Jones Industrial Average and the Nasdaq Composite gained 1% each to close at 52,573.29 and 26,333.04, respectively. The S&P 500 climbed 0.9% to 7,656.98. Barring utilities and healthcare, all sectors ended in the green, led by communication services.The holiday-shortened trading week saw the Dow shedding 1.6%. The S&P 500 and the Nasdaq logged weekly losses of 0.8% and 0.7%, respectively.In economic news, US consumer inflation hit a three-month high in August as energy prices rose, while the core measure unexpectedly accelerated, official data showed."With oil prices up significantly in recent weeks, again hovering around $100 per barrel and underlying price pressures in services remaining sticky, a (Fed) rate hike at next week's meeting now appears all but certain," TD Economics said in a note.The probability of the US central bank increasing its benchmark lending rate by 25 basis points next week jumped to 87% Friday from 72% Thursday, according to the CME FedWatch tool. The odds pointing to another Fed pause fell to 13% from 28%.US consumer sentiment weakened in September, while inflation expectations rose, with the year-ahead price growth outlook reaching the highest reading since June, preliminary results of a University of Michigan survey showed.West Texas Intermediate crude oil was down 2% at $100.44 a barrel in Friday late-afternoon trade, while Brent dropped 2.6% to $104.80. However, both benchmarks were on track for their second consecutive weekly advances as tensions in the Middle East intensified earlier in the week.Saudi Arabia's Energy Ministry said Friday that the kingdom shut down its key East-West crude oil pipeline in the Riyadh and Madinah regions as a precautionary measure a day after the facility was targeted in multiple attacks. Yemen's Iran-aligned Houthis reportedly launched strikes on Saudi energy infrastructure in recent days.A six-member bloc of Gulf states is considering talks with Iran next week over the future of the Strait of Hormuz, the world's most important chokepoint for crude flows, news outlets reported Friday.The International Energy Agency on Friday projected a steeper contraction in oil demand this year as the Middle East conflict is expected to hamper production and push energy prices higher.Diesel prices in the US surged past $6 per gallon for the first time ever Friday amid concerns over energy supply disruptions that in turn could fuel inflation.Treasury yields were higher, with the two-year rate up 7.5 basis points at 4.63% and the 10-year rate rising 2.7 basis points to 4.97%.In company news, Dell Technologies (DELL) shares jumped 12%, the second-biggest gain on the S&P 500, as RBC Capital Markets initiated its coverage of the computer maker's stock with an outperform rating and a $640 price target.Dell is well positioned to benefit from the multiyear artificial intelligence infrastructure spending cycle, RBC said in a note.ACV Auctions (ACVA) shares surged 44%, while Copart (CPRT) fell 2.6%. Late Thursday, the companies said Copart will acquire ACV Auctions for $10.50 per share in cash, representing an implied equity value of roughly $1.9 billion.Spot gold edged up 0.7% to $4,348.43 per troy ounce, while silver was little changed at $64.94 per ounce.

Dow JonesNasdaq CompositeS&P 500$ACVA$CPRT$DELL
Japan

US Equity Markets End Higher Amid Broad-Based Rally as Crude Oil Prices Drop

US equity indexes ended higher Friday amid a broad-based rally led by communication services and technology after crude oil prices dropped.* The Bureau of Labor Statistics' consumer price index rose 0.4% month-on-month, the fastest pace since May and above July's 0.1% gain, matching the Bloomberg-polled consensus.* Core inflation, which excludes the more volatile food and energy components, jumped to a four-month high of 0.3%, exceeding market projections for an unchanged 0.2% growth.* The University of Michigan's preliminary consumer sentiment index fell to 47.8 in September from 51.7 in August, versus the 51.0 expected in a survey compiled by Bloomberg.* October West Texas Intermediate crude oil fell $1.92 to settle at $100.59 per barrel, while November Brent crude, the global benchmark, was last seen down $2.76 at $104.87.* Dell Technologies (DELL) is poised to benefit from a multi-year artificial intelligence infrastructure spending cycle, setting the stage for results to sustain above long-term targets, RBC Capital Markets said in a note. The personal computer manufacturer's shares were up roughly 12%, the second-best performer on the S&P 500.* Copart (CPRT) shares were down about 2.7%, among the worst performers on the S&P 500, after the company said late Thursday it will acquire ACV Auctions (ACVA) for $10.50 per share in cash, valuing the latter at about $1.9 billion.

Dow JonesNasdaq CompositeS&P 500$ACVA$CPRT$DELL
Sectors

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks climbed late Friday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 3%.The Philadelphia Semiconductor index gained 1.7%.In corporate news, Dell (DELL) shares jumped 12% after RBC Capital Markets initiated its coverage of the stock with an outperform rating and a $640 price target. Dell is well positioned to benefit from the multiyear AI infrastructure spending cycle, RBC said.Microsoft (MSFT) plans to more than triple its global data center capacity to over 38 gigawatts by 2032, Bloomberg reported. Microsoft shares added 0.8%.Oracle's (ORCL) fiscal Q1 results showed surging cloud growth, though margin pressure and a "modest" earnings guidance increase loomed over infrastructure buildout and profitability, Morgan Stanley said. Oracle shares fell 2%.Broadcom's (AVGO) licensing revamp for VMware software after its $61 billion takeover is attracting scrutiny from EU antitrust regulators, Bloomberg reported. Broadcom shares rose 0.3%.

$AVGO$DELL$MSFT$ORCL
Sectors

Sector Update: Tech

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 3.1%.The Philadelphia Semiconductor index climbed 1.9%.In corporate news, Dell (DELL) shares jumped past 10% after RBC Capital Markets initiated its coverage of the computer maker's stock with an outperform rating and a $640 price target. Dell is well positioned to benefit from the multiyear AI infrastructure spending cycle, RBC said in a note.

$DELL
Japan

Update: Communication Services, Technology Lift US Equity Indexes After August Inflation Print Triggers Rally in Shorter-Maturity Treasury Yields

(Updates with index/price moves, macroeconomic data, comments and geopolitical news from the first paragraph.)US equity indexes rose amid a broad-based rally led by communication services and technology, after August's consumer price inflation data sparked a rise in short-term government bond yields and crude oil slumped.The Nasdaq Composite jumped 1.2% to 26,391.5, the S&P 500 climbed 1.1% to 7,671.1, and the Dow Jones Industrial Average advanced 1.1% to 52,642.2 ahead of Friday's close. All sectors rose, with industrials among the top gainers.The consumer price index rose 0.4% month on month, the fastest pace since May and above July's 0.1% gain, the Bureau of Labor Statistics data showed Friday. The move matched the Bloomberg-polled consensus. Core inflation, which excludes the more volatile food and energy components, jumped to a four-month high of 0.3%, exceeding market projections for an unchanged 0.2% growth. On an annual basis, headline inflation held steady at 3.4%, as expected. The annual core measure eased to 2.4% from 2.5%, also in line with projections.Another iteration of inflation, the supercore - defined as core services excluding housing - jumped 0.5% in August, marking the largest monthly gain in four months, according to a Stifel note. Over the past 12 months, the supercore increased 3.0%, accelerating from the 2.8% gain in July and marking the fastest pace since June, per the note.Last month, Fed Chair Kevin Warsh reiterated the Fed's commitment to eventually reinstating price stability, a welcome sentiment but a reality already five years in the making, leaving market participants still skeptical of not only the potential for a rate increase next week, but a follow-through with additional hikes into year-end, the Stifel note said. "There is no doubt the Fed should raise rates, but the question remains: Will they?"Most US Treasury yields rose in the final leg of trading, with outsized gains concentrated in shorter maturity securities. The two-year shot up 9.4 basis points to 4.64%, the highest since mid-2024. The 10-year yield climbed 3.1 basis points to 4.98%, the strongest level since October 2023.A six-member bloc of Gulf states is weighing a meeting with Iranian officials next week to discuss the future of the Strait of Hormuz, people familiar with the matter told Bloomberg, in what would be the first gathering with the Islamic Republic since war erupted more than six months ago. Oman is aiming to get foreign ministers from the Gulf Cooperation Council and Iran together on Monday in Salalah, a southern Omani city, people familiar with the matter told the news agency.The front-month US West Texas Intermediate crude oil contract slumped 2.3% to $100.16 per barrel, and global benchmark North Sea Brent dropped 2.9% to $104.52 per barrel.

Dow JonesNasdaq CompositeS&P 500$DELL
Wire

Top Midday Gainers

Copart (CPRT) said late Thursday it will acquire ACV Auctions (ACVA) for $10.50 per share in cash, valuing the latter at about $1.9 billion.ACV shares soared 45% as intraday trading volume catapulted to over 94.1 million from a daily average of about 3.9 million.Frequency Electronics (FEIM) shares surged 36% amid heavy trading after the company reported fiscal Q1 net income and revenue late Thursday that beat market expectations.More than 1.1 million shares traded intraday compared with a daily average of about 302,000.Dell Technologies (DELL) is poised to benefit from a multi-year artificial intelligence infrastructure spending cycle, setting the stage for results to sustain above long-term targets, RBC Capital Markets said in a client note.Shares jumped 11%, with intraday trading volume rising to over 10.9 million from a daily average of about 7.5 million.Price: $29.67, Change: $-1.09, Percent Change: -3.53%

$ACVA$CPRT$DELL$FEIM
Update: Equities Rise Intraday as Traders Parse Inflation Report; Oil Retreats
US Markets

Update: Equities Rise Intraday as Traders Parse Inflation Report; Oil Retreats

(Updates with latest market prices and developments.)US benchmark equity indexes were advancing intraday as markets assessed fresh inflation data, while oil prices fell.The Nasdaq Composite and the Dow Jones Industrial Average were up 1.2% each at 26,406.1 and 52,675.2, respectively, after midday Friday. The S&P 500 advanced 1.1% to 7,675.1. Except healthcare, all sectors were in the green, led by communication services.In economic news, US consumer inflation hit a three-month high in August as energy prices rose, while the core measure unexpectedly accelerated, official data showed, likely adding pressure on the Federal Reserve to raise interest rates."With oil prices up significantly in recent weeks, again hovering around $100 per barrel and underlying price pressures in services remaining sticky, a (Fed) rate hike at next week's meeting now appears all but certain," TD Economics said in a note.The probability of the US central bank increasing its benchmark lending rate by 25 basis points next week jumped to 87% Friday from 72% Thursday, according to the CME FedWatch tool. The odds pointing to another Fed pause fell to 13% from 28%.West Texas Intermediate crude oil was down 2.7% at $99.72 a barrel intraday, while Brent dropped 3% to $104.42. However, both benchmarks were on track for their second consecutive weekly advances as tensions in the Middle East intensified earlier in the week.Diesel prices in the US surged past $6 per gallon for the first time ever Friday amid concerns over energy supply disruptions that in turn could fuel inflation.A six-member bloc of Gulf states is considering talks with Iran next week over the future of the Strait of Hormuz, the world's most important chokepoint for crude flows, news outlets reported Friday.US consumer sentiment weakened in September, while inflation expectations rose, with the year-ahead price growth outlook reaching the highest reading since June, preliminary results of a University of Michigan survey showed.Treasury yields were mostly higher intraday, with the two-year rate up eight basis points at 4.63% and the 10-year rate rising 1.1 basis points to 4.96%.In company news, Dell Technologies (DELL) shares jumped 10% intraday, the top gainer on the S&P 500, as RBC Capital Markets initiated its coverage of the computer maker's stock with an outperform rating and a $640 price target.Dell is well positioned to benefit from the multiyear artificial intelligence infrastructure spending cycle, RBC said in a note.ACV Auctions (ACVA) shares surged 44%, while Copart (CPRT) fell 3.4%, making it the worst performer on the S&P 500. Late Thursday, the companies said Copart will acquire ACV Auctions for $10.50 per share in cash, representing an implied equity value of roughly $1.9 billion.Spot gold advanced 1.2% to $4,367.78 per troy ounce, while silver edged higher by 0.1% to $65.02 per ounce.

Dow JonesNasdaq CompositeS&P 500$ACVA$CPRT$DELL
Asia Markets

Update: Communication Services, Technology Push US Equity Indexes Higher While August CPI Sparks Rally in Shorter-Maturity Treasury Yields

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes rose amid a broad-based rally led by communication services and technology, after August's consumer price inflation data sparked a rise in short-term government bond yields and crude oil slumped.The Nasdaq Composite jumped 1.2% to 26,391.5, the S&P 500 climbed 1.1% to 7,671.1, and the Dow Jones Industrial Average advanced 1.1% to 52,642.2 after midday Friday. All sectors rose, with industrials among the top gainers.The consumer price index rose 0.4% month on month, the fastest pace since May and above July's 0.1% gain, the Bureau of Labor Statistics data showed Friday. The move matched the Bloomberg-polled consensus. Core inflation, which excludes the more volatile food and energy components, jumped to a four-month high of 0.3%, exceeding market projections for an unchanged 0.2% growth.On an annual basis, headline inflation held steady at 3.4%, as expected. The annual core measure eased to 2.4% from 2.5%, also in line with projections."Although headline inflation met expectations, core inflation came in slightly hotter than anticipated, ending a three-month run of softer readings," Thomas Feltmate, senior economist at TD Economics, said in a report. "The pickup was concentrated in non-housing services, which posted its strongest monthly gain since January and is still running north of 3% on a twelve-month basis -- underscoring the stickiness in this component of inflation."Most US Treasury yields rose in midday trading. The two-year jumped 7.8 basis points to 4.63%, the highest since mid-2024. The 10-year yield edged up 1.1 basis points to 4.96%, the strongest level since October 2023.Further in economic news, the University of Michigan's preliminary consumer sentiment index fell to 47.8 in September from 51.7 in August, versus the 51.0 expected in a survey compiled by Bloomberg. Respondents set one-year inflation expectations at 4.6%, up sharply from 4.0% in August, while five-year inflation expectations increased to 3.4% after remaining at 3.3% for three straight months.Yemen's Iran-aligned Houthis reached Perim island in the Bab el-Mandeb Strait on Friday, four Yemeni government sources told Reuters, moving to tighten their grip on an important shipping route.A Houthi spokesman said they will allow international vessels to pass through Bab al-Mandeb except Saudi ships, which are being blocked, Al Jazeera, a Middle Eastern broadcaster, reported.The front-month US West Texas Intermediate crude oil contract slumped 3% to $99.46 per barrel, and global benchmark North Sea Brent dropped 3.1% to $104.29 per barrel.In company news, Dell Technologies (DELL) is poised to benefit from a multi-year artificial intelligence infrastructure spending cycle, setting the stage for results to sustain above long-term targets, RBC Capital Markets said in a client note. The personal computer manufacturing giant's shares soared 11%, the top performer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$DELL
Dell Technologies Positioned to Benefit From AI Infrastructure Spending Cycle, RBC Says
US Markets

Dell Technologies Positioned to Benefit From AI Infrastructure Spending Cycle, RBC Says

Dell Technologies (DELL) is well positioned to benefit from the multi-year artificial intelligence infrastructure spending cycle, which should help the computer maker to sustain results above long-term targets, RBC Capital Markets said in a client note emailed Friday.The brokerage initiated its coverage of Dell with an outperform rating and a price target of $640. The company's shares gained 11% in Friday trade. The stock has gained 347% so far this year.Earlier this month, Dell lifted its full-year outlook and reported stronger-than-expected second-quarter results amid record AI server demand.The company ended its fiscal second quarter with an AI server backlog of $95 billion and a continuously growing pipeline, despite converting about $132 billion into orders for the last 12 months, RBC analyst David Paige wrote in the note. The brokerage sees the current environment as constrained mainly by memory supplies rather than demand, and expects "meaningful" backlog to continue through fiscal 2027, providing visibility into the following fiscal year."Enterprise demand for AI investments, compute modernization, storage expansion and PC refresh should sustain results above long-term targets," Paige wrote.Dell's portfolio across compute, personal computers, storage and servers should allow it to continue gaining market share, while its full-stack capabilities combined with key partnerships put it in a position to capture enterprise demand for turnkey AI infrastructure, RBC said.The brokerage believes the company's proprietary storage portfolio is a "direct" profitability generator for its infrastructure solutions group, given that it carries structurally higher margins versus third-party or legacy solutions. "We expect storage margins to expand as Dell IP mix rises, with the legacy transition largely complete by year-end," Paige said.The emergence of agentic AI is reinforcing the durability of Dell's AI demand, with senior management believing it's fundamentally expanding the total addressable market for graphics and traditional central processing units, according to RBC."We are seeing a growing trend of customers that require meaningful CPU compute capacity to support AI and agentic workflows," Chief Operating Officer Jeffrey Clarke said during an earnings call earlier this month. "These workloads are creating incremental demand for traditional servers."Clarke said Dell has gained more than 10 points of traditional server market share over the past two quarters and expects to continue gaining share in the current quarter.Price: $564.63, Change: $+58.01, Percent Change: +11.45%

$DELL
Wire

Dell Results Should Sustain Above Long-Term Targets on AI Infrastructure Demand, RBC Says

Dell Technologies' (DELL) results should sustain above long-term targets amid enterprise demand for AI investments, compute modernization, storage expansion, and PC refresh, RBC Capital Markets said in a Thursday research report.The company's portfolio spanning compute, PCs, storage and servers, alongside its install base and flexible consumption options, positions it for continued market share gains, analysts wrote.The brokerage said it views the operating environment as supply-constrained, primarily because of memory constraints, rather than demand-limited, and expects meaningful backlog to persist through fiscal 2027, providing visibility into the next fiscal year, according to the note.A richer mix, better attach rates, and the completion by year-end of the transition to Dell's proprietary storage products could help the company's Infrastructure Solutions Group sustain or even expand operating margins within its 10% to 14% framework, according to RBC.The brokerage said it initiated coverage of the stock with an outperform rating and a price target of $640 per share.Price: $563.90, Change: $+57.28, Percent Change: +11.31%

$DELL
Insider Trading

Dell Technologies Insider Sold Shares Worth $2,845,828, According to a Recent SEC Filing

Jane Tunnell, Chief Marketing Officer, on September 04, 2026, sold 5,436 shares in Dell Technologies (DELL) for $2,845,828. Following the Form 4 filing with the SEC, Tunnell has control over a total of 41,539 Class C common shares of the company, with 41,539 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1571996/000201616126000012/xslF345X05/wk-form4_1788984717.xml

$DELL
Sectors

Sector Update: Tech Stocks Ease Late Afternoon

Tech stocks eased late Wednesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) little changed after erasing earlier gains and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 0.2%.The Philadelphia Semiconductor index rose 0.2%.In corporate news, Apple (AAPL) introduced iPhone Duo, its first foldable iPhone, featuring a 7.6-inch inner display and 5.4-inch outer display, both using Super Retina XDR technology. Apple shares fell 0.2%.Dell Technologies (DELL) is set to raise $5 billion via an investment-grade bond sale that attracted about $23 billion in peak orders, Bloomberg reported. Dell shares were little changed.Meta Platforms (META) launched a new personal AI agent called Muse AI, which can send emails, book travel plans, and continue working after users close the app. Meta shares jumped 6.4%.Analog Devices (ADI) agreed to buy Alif Semiconductor for $1.35 billion in cash to add AI-native microcontrollers and fusion processors. Analog Devices shares eased 0.1%.

$AAPL$ADI$DELL$META
Sectors

Sector Update: Tech

Tech stocks were slightly higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) and the State Street SPDR S&P Semiconductor ETF (XSD) each fractionally up.The Philadelphia Semiconductor index advanced 0.3%.In corporate news, Dell (DELL) is set to raise $5 billion via an investment-grade bond sale that attracted about $23 billion in peak orders, Bloomberg reported. The company had initially planned to raise about $4 billion, according to the report. Dell shares were up 0.6%.

$DELL
Wire

Market Chatter: Dell Technologies to Raise $5 Billion in Bond Sale

Dell Technologies (DELL) is set to raise $5 billion through an investment-grade bond sale that attracted about $23 billion in peak orders, Bloomberg reported Wednesday, citing people familiar with the matter.The company had initially planned to raise about $4 billion, according to the report. The debt will be issued across four tranches with maturities of three to 10 years.Dell plans to use the proceeds to repay debt coming due this year and for general corporate purposes. The company has $2.3 billion of bonds maturing in October, according to the report.Dell did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $543.41, Change: $+9.52, Percent Change: +1.78%

$DELL
Sectors

Sector Update: Tech Stocks Advance Wednesday Afternoon

Tech stocks were slightly higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.3%.The Philadelphia Semiconductor index increased 0.4%.In corporate news, Meta Platforms (META) has launched a new personal AI agent called Muse AI, which can send emails, book travel plans, take on goals and continue working after users close the app. Meta shares jumped past 6%.Analog Devices (ADI) has agreed to buy Alif Semiconductor in a $1.35 billion all-cash deal that will add AI-native microcontrollers and fusion processors to its lineup. Shares rose 0.5%.Dell Technologies (DELL) is looking to raise $4 billion in an investment-grade bond sale to refinance its debt, Bloomberg reported. Dell shares added 1.5%.

$ADI$DELL$META
Treasury

Market Chatter: Dell Technologies Eyes $4 Billion Bond Sale to Refinance Debt

Dell Technologies (DELL) is looking to raise $4 billion in an investment-grade bond sale to refinance its debt, Bloomberg reported Wednesday, citing people familiar with the matter.Bonds are slated to be offered in four tranches, with maturities ranging between three years and 10 years, the report said. The initial price talk for the longest tenor is a premium of up to 1.4 percentage points over US Treasuries, according to the media outlet.No final decisions have been made about the offering size and may be tweaked according to the demand, the report said.Dell Technologies did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $557.04, Change: $+23.16, Percent Change: +4.34%

$DELL
Equities

S&P 500 Posts Slight Weekly Gain as Energy Climbs, Consumer Discretionary Weighs

The Standard & Poor's 500 index edged up 0.1% this week as gainers led by the energy sector barely outweighed decliners guided by consumer discretionary stocks.The S&P 500 ended Friday's session at 7,718.60. On Monday, the index concluded August with a 2.6% monthly gain. It's up nearly 13% for the year.August jobs data showed the economy added almost triple the positions expected last month. Nonfarm payrolls rose by 162,000 last month, the Bureau of Labor Statistics said Friday, compared with a 55,000 increase projected in a Bloomberg-compiled survey.Bets rose for a September rate increase by the Federal Reserve's Federal Open Market Committee following the jobs report. As of Friday, markets were pricing in a 58% probability that the FOMC will raise its benchmark lending rate on Sept. 16, up from 49% on Thursday, according to the CME FedWatch tool.The energy sector had the largest percentage gain this week, up 2.3%, followed by a 1.1% rise in technology and a 0.7% increase in utilities. Health care also edged higher.The climb in the energy sector came as crude oil futures also rose on the week. Gainers in the sector included Marathon Petroleum (MPC), up 5.4% on the week, and Valero Energy (VLO), up 5.2%. Both stocks received boosts to their price targets this week from analysts as Piper Sandler and Wells Fargo.Top gainers in the technology sector included Dell Technologies (DELL), which rose 15%. The company's fiscal second-quarter results beat Wall Street's estimates, driven by record artificial intelligence server demand. Dell also lifted its full-year outlook.On the downside, consumer discretionary fell 2.1%, followed by a 1.6% drop in materials, a 1.3% loss in real estate and a 1.1% decline in industrials. Consumer staples, communication services and financials also moved lower.The consumer discretionary sector's decliners were led by Lululemon Athletica (LULU), whose shares shed 17%. The athletic apparel retailer reported weaker-than-expected fiscal Q2 revenue and cut its full-year outlook.The US stock market will be closed on Monday for Labor Day.Oracle (ORCL), Adobe (ADBE), Kroger (KR) and Macy's (M) are among the companies expected to release quarterly results later in the week.Economic data will include the August consumer price index and producer price index.

Dow JonesNasdaq CompositeS&P 500$DELL$LULU$MPC$VLO
Asia Markets

Update: US Equity Indexes Close Higher Amid Declining Treasury Yields, Rising Crude Oil

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes rose on Wednesday as government bond yields fell and crude oil climbed amid concern that hostilities between Washington and Tehran are taking a turn for the worse.The Nasdaq Composite rose 0.5% to 26,217.83, the S&P 500 climbed 0.5% to 7,666.60, and the Dow Jones Industrial Average advanced 0.6% to 53,061.95.All sectors, except real estate, rose. Materials and communication services topped the gainers.The additional strikes Tuesday on Iran led to Tehran attacking Jordan, Bahrain and Kuwait even though US President Donald Trump had warned that Iran would be "hit much harder" if it retaliated to the first strikes in over a month. "They will be hit again at a much harder and higher level, but it will not be the biggest attack of them all, that is waiting in the wings and, when it is over, there will be very little left of the Islamic Republic of Iran!" Trump posted on Truth Social on Tuesday.US Secretary of State Marco Rubio said Iran will "continue to feel the squeeze" from the United States until it drops any nuclear weapons ambitions and ends support for armed groups in the Middle East, the Associated Press reported.The Iran Revolutionary Guards Corps said two oil tankers exploded after hitting a mine and are now on fire, Al Jazeera, a Middle Eastern broadcaster, reported Wednesday.The Iranian attacks "constitute a flagrant violation of sovereignty," the United Arab Emirates' Foreign Ministry said in a statement, Al Jazeera reported. The ministry reiterated its "support for all measures aimed at safeguarding" the "security and stability" of countries pulled into the war, the news report said.The front-month US West Texas Intermediate crude oil contract rose 0.6% to $90.75 per barrel, and global benchmark North Sea Brent climbed 0.8% to $95.37 per barrel. Both crude types were down by more than 0.5% earlier in the session.Most US Treasury yields fell. The 10-year yield declined 1.6 basis points to 4.78%. The two-year yield declined 2.7 basis points to 4.37%.Gold futures advanced 0.9% to $4,436.3, and silver futures marched 0.9% higher to $65.94.Meanwhile, ADP's monthly measure of private payrolls showed a 38,000 increase in August, below a 47,000 gain expected in a Bloomberg-compiled survey, following a 46,000 increase in July. Service-providing jobs climbed 48,000, with education and health services jobs up 45,000, while manufacturing sector jobs contracted 17,000."Pay can tell us a lot about today's choppy hiring," said Nela Richardson, chief economist at ADP. "To understand hiring patterns, you have to look deeply into where pay growth is accelerating, where it's slowing, and for whom. Once-predictable wage growth has been overtaken by the complexities of demographic change, persistent inflation, and AI's effects on jobs."New orders for US factory goods rose 0.9% in July, above expectations for a 0.7% increase in a survey compiled by Bloomberg and following a 0.2% decrease in June. Excluding a 2.3% increase in transportation orders, new orders would have been up 0.6% after a 0.1% decline in June.Dell Technologies (DELL) jumped 16%, the top gainer on the S&P 500, after the company reported higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance.Palo Alto Networks (PANW) sank 9.3%, the worst performer on the S&P 500 and the Nasdaq, as the cybersecurity firm's fiscal Q4 adjusted gross margin declined year over year.

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Update: Wall Street Snaps 3-Day Losing Streak as Yields Edge Down
US Markets

Update: Wall Street Snaps 3-Day Losing Streak as Yields Edge Down

(Updates with market moves at the end of the day, and other changes, if any.)US equities rebounded Wednesday following a three-day fall, as Treasury yields edged lower after climbing to multiyear highs.The Dow Jones Industrial Average gained 0.6% to close at 53,061.95. The S&P 500 and the Nasdaq Composite rose 0.5% each to 7,666.60 and 26,217.83, respectively. Except real estate, all sectors were in the green, led by materials.Treasury yields were lower, with the two-year yield down 2.3 basis points at 4.37% and the 10-year yield falling 1.6 basis points to 4.78%. Earlier on Wednesday, the 10-year rate hit 4.818%, its highest level since November 2023, CNBC reported."While easing slightly after hitting multi-year peaks, yields remain elevated," Stifel said in a note on Wednesday.Iran has expanded the number of vessels it says must not sail through the Strait of Hormuz, Reuters reported Wednesday.The US Central Command said Tuesday that its forces completed a wave of strikes against Iranian military targets. Iran reportedly launched retaliatory attacks on Kuwait, Jordan and Bahrain.West Texas Intermediate crude oil was up 0.6% at $90.75 a barrel in Wednesday late-afternoon trade, while Brent advanced 0.8% to $95.37. Both benchmarks were off the day's peaks.In company news, shares of Dell Technologies (DELL) surged nearly 16%, the best performer on the S&P 500, after the company's fiscal second-quarter results beat Wall Street's estimates.Dell's latest results and guidance indicated "broad-based strength," though there are concerns that artificial intelligence-driven compute and storage growth may decelerate sharply in fiscal 2028 or 2029 amid rising prices, UBS Securities said in a note.Palo Alto Networks (PANW) slumped 9.3%, the steepest decline on the S&P 500, as the cybersecurity firm's fiscal fourth-quarter adjusted gross margin declined year over year.Brown-Forman (BF.A, BF.B) reiterated its guidance for fiscal 2027 organic sales on Wednesday as it flagged continuing consumer headwinds that drove weaker-than-expected first-quarter top-line. The company's class A and B shares were up 3.4% and 3.9%, respectively.In economic news, US private sector employment grew at its slowest pace in seven months in August, ADP (ADP) data showed, ahead of the official jobs report due on Friday.Data from the Bureau of Labor Statistics are likely to show Friday that the US economy added 55,000 nonfarm jobs last month, compared with a drop of 23,000 for July, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.1%.Spot gold rose 1.4% to $4,388.30 per troy ounce, while silver advanced 0.8% to $65.92 per ounce.

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