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44 stories mentioning GEUpdated 7d ago

Every FINWIRES story that references GE, newest first.

Wire

GE Aerospace Gets National Airlines Commitment to Buy 7 Engines for Boeing Cargo Planes

GE Aerospace (GE) said Thursday that National Airlines has agreed to buy seven engines for its Boeing (BA) cargo airplanes.Financial terms were not disclosed.The company said the order includes one GE90-110B and six CF6-80C2 engines. National Airlines already owns 30 CF6 engines and eight GE90 engines.The GE90 engine family powers all Boeing 777 models..Shares of GE Aerospace were up 2%.Price: $349.41, Change: $+8.04, Percent Change: +2.36%

$BA$GE
Wire

GE Aerospace, Magellan Aerospace Sign MoU to Establish MRO Capabilities in Canada for F414 Engine

GE Aerospace (GE) said Wednesday that it has entered into a memorandum of understanding with Magellan Aerospace to establish maintenance, repair, and overhaul capabilities in Canada for the F414-GE-39E engine.The MoU is predicated on whether the Canadian government proceeds with the acquisition of the Saab JAS 39 Gripen E fighter for the Royal Canadian Air Force fighter fleet, GE Aerospace said.Under the agreement, GE Aerospace will provide training and license Magellan to support the operational readiness, availability, and long-term performance of Canada's F414 fleet, the company said.Financial terms related to the agreement were not disclosed.Price: $343.54, Change: $+2.84, Percent Change: +0.83%

$GE
Stocks Fall Pre-Bell Ahead of Alphabet, Tesla Earnings
US Markets

Stocks Fall Pre-Bell Ahead of Alphabet, Tesla Earnings

The main US stock measures were pointing lower in Wednesday's premarket activity as investors await the latest financial results of technology giants Alphabet (GOOG, GOOGL) and Tesla (TSLA) and monitor the ongoing Middle East conflict.The S&P 500 declined 0.3%, the Dow Jones Industrial Average edged down 0.1% and the Nasdaq was off 0.7% before the opening bell. The indexes ended Tuesday trading higher following a three-day slump.Google parent Alphabet and electric vehicle manufacturer Tesla are scheduled to report their quarterly earnings after the markets close, along with Texas Instruments (TXN), IBM (IBM), ServiceNow (NOW) and CSX (CSX).Philip Morris International (PM), GE Vernova (GE), AT&T (T), Northern Trust (NTRS) and RPM International (RPM) are expected to post their results before the bell, among others.West Texas Intermediate crude oil gained 4.2% to $87.91 a barrel in premarket action, while Brent increased 4.1% to $94.76.The US Central Command said Tuesday its forces completed another round of strikes against Iran as part of attempts to degrade its ability to threaten commercial ships in the Strait of Hormuz.At the ASEAN foreign ministers' meeting in the Philippines on Wednesday, US Secretary of State Marco Rubio accused Iran of not being serious about peace talks with the US, CNBC reported.Rubio reportedly said a key sticking point in talks with Iran was Tehran's demand for the right to control traffic through the Strait of Hormuz, arguing that allowing any country to control an international waterway would set a dangerous precedent.Treasury yields were mixed before the open, with the two-year rate down 0.1 basis points to 4.26% while the 10-year rate inclined 0.2 basis points to 4.63%.In a social media post on Tuesday, President Donald Trump said the import of all generic drugs into the US will be subject to zero tariffs for a two-year period, effective Aug. 1. Tariffs on the drugs would then rise to 100% for one year before increasing to 200% thereafter, according to Trump."This is done in order to reshore generic pharmaceutical production into America, with a penalty to those companies that decide not to build plant and equipment within the stated period of time given to them," Trump said.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the weekly EIA domestic petroleum inventories report at 10:30 am.Shares of Super Micro Computer (SMCI) jumped 17% before the bell after the company said it received more than $60 billion in new orders during its fiscal fourth quarter and raised its gross margin outlook. Dell Technologies gained 4.6% after closing the previous session up 6%.Alaska Air (ALK) decreased 1.3% as the airline issued a downbeat third-quarter earnings outlook and swung to a second-quarter loss. Rocket Lab (RKLB) advanced 4.5%.Gold traded up 1.2% at $4,124 per troy ounce, while bitcoin was down 0.7% at $65,922.

Dow JonesNasdaq CompositeS&P 500$ALK$CSX$DELL$GE$GOOG$GOOGL$IBM$NOW$NTRS$PM$RKLB$RPM$SMCI$T$TSLA$TXN
Wire

Argus Raises GE Aerospace Price Target to $395 From $355

GE Aerospace (GE) has an average rating of overweight and mean price target of $397.05, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $341.41, Change: $+0.11, Percent Change: +0.03%

$GE
Wire

AerCap Places Order for 15 Boeing 787-9 Dreamliners

AerCap (AER) said Tuesday it has placed a direct order for 15 Boeing (BA) 787-9 Dreamliners, expanding its portfolio of the widebody jet to about 140 airplanes.Financial details weren't disclosed.The agreement, announced at the 2026 Farnborough International Airshow, includes substitution rights that allow AerCap to switch to the larger Boeing 787-10 variant.The 15 aircraft, to be powered by GE Aerospace's (GE) GEnx-1B engines, are scheduled for delivery through 2033, AerCap said.Price: $210.99, Change: $+1.51, Percent Change: +0.72%

$AER$BA$GE
Wire

GE Aerospace Venture CFM International to Supply 30 LEAP Spare Engines to BBAM

GE Aerospace's (GE) joint venture CFM International has reached an agreement with aircraft lessor BBAM to supply 30 LEAP-1A and LEAP-1B spare engines for operators of Airbus A320neo and Boeing (BA) 737 MAX aircraft, BBAM said Tuesday.The multi-year order marks BBAM's first direct engine purchase from CFM International and expands its portfolio of CFM56 and LEAP engines.Financial terms of the deal were not disclosed.GE Aerospace shares were up 0.2% in Tuesday trading, while Boeing was up 0.5%.Price: $210.53, Change: $+1.05, Percent Change: +0.50%

$BA$GE
Wire

GE Aerospace Signs Agreement With SPDB Financial for CF34-10A Spare Engines

GE Aerospace (GE) said Monday it has signed an agreement with SPDB Financial Leasing for 10 CF34-10A spare engines, bolstering lifecycle support for the COMAC C909 aircraft in China.The CF34-10A exclusively powers the COMAC C909 regional jet, the company added.Shares of GE Aerospace were down 1.8% in Monday trading.Price: $342.46, Change: $-6.37, Percent Change: -1.83%

$GE
Wire

GE Aerospace Wins Engine Deal for 15 Philippine Airlines 787-10s

GE Aerospace (GE) secured an agreement with Philippine Airlines to supply GEnx-1B engines for 15 new Boeing (BA) 787-10 Dreamliners, including purchase rights covering five additional aircraft.Financial details weren't disclosed.Deliveries of the aircraft are expected from 2031 to 2034, Philippine Airlines said Monday in a statement.Price: $340.87, Change: $-7.96, Percent Change: -2.28%

$BA$GE
Wire

GE Aerospace JV CFM Signs Memorandum of Understanding With IndiGo for LEAP Engines

GE Aerospace (GE) said Monday its joint venture, CFM International, has signed a memorandum of understanding with IndiGo for an order of more than 1,000 LEAP-1A engines to power 510 Airbus A320neo Family aircraft.The MoU also covers CFM's support in establishing IndiGo's upcoming engine maintenance, repair and overhaul facility, along with a long-term material services agreement for spare parts supply, according to a statement.Price: $344.51, Change: $-4.32, Percent Change: -1.24%

$GE
Wire

Rothschild & Co Redburn Adjusts Price Target on GE Aerospace to $390 From $350, Maintains Buy Rating

GE Aerospace (GE) has an average rating of overweight and mean price target of $397.05, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $344.84, Change: $-3.99, Percent Change: -1.14%

$GE
Wire

Wells Fargo Raises Price Target on GE Aerospace to $390 From $325

GE Aerospace (GE) has an average rating of hold and mean price target of $390.14, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $349.61, Change: $+3.88, Percent Change: +1.12%

$GE
Wire

GE Aerospace Lifts Guidance With Aftermarket Cycle Still a Constraint, RBC Says

GE Aerospace (GE) posted a strong Q2 beat and raised its 2026 outlook, though lingering peak-aftermarket concerns may limit how much investors are willing to support the stock, RBC Capital Markets said Thursday in a report.The aftermarket debate remains a key overhang even as GE delivered better-than-expected Q2 adjusted EPS of $2.02 and 30% growth in commercial engines and services revenue, the report said. Parts are flowing more freely, allowing GE to do more complete shop visits and boosting spare-parts revenue more than 25% in the quarter, RBC said.GE has firm near-term demand in place, with 95% of Q3 spare-parts revenue already in backlog, the report said. Still, tougher year-over-year comparisons in H2 and early 2027 may temper the pace of services growth despite the company's raised guidance, RBC said.RBC maintained its outperform rating on GE stock and its $400 target. At least two other analysts raised their price targets.Price: $354.09, Change: $+8.36, Percent Change: +2.42%

$GE
Wire

UBS Raises Price Target on GE Aerospace to $435 From $426, Maintains Buy Rating

GE Aerospace (GE) has an average rating of hold and mean price target of $390.14, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $355.85, Change: $+10.12, Percent Change: +2.93%

$GE
Wire

Top Midday Stories: Taiwan Semiconductor Q2 Earnings Top Estimates, Increases Capex; UnitedHealth Raises Full-Year Guidance

The S&P 500 and Nasdaq Composite were down in late-morning trading Thursday, while the Dow Jones Industrial Average was up slightly, as Taiwan Semiconductor Manufacturing's (TSM), or TSMC's, latest earnings report dragged down chip stocks.In company news, TSMC reported Q2 earnings Thursday of 27.25 New Taiwan dollars ($0.86) per diluted share, up from NT$15.36 a year earlier and above the FactSet consensus analyst estimate of NT$24.20. Net Q2 revenue was NT$1.270 trillion, up from NT$933.79 billion a year ago and above the FactSet consensus of NT$1.266 trillion. For Q3, the chipmaker said it expects revenue of $44.6 billion to $45.8 billion, above the FactSet consensus of $43.21 billion. Separately, TSMC has reserved an additional $100 billion to increase its chipmaking capacity in the US, raising its total planned investment to $265 billion, Bloomberg reported Thursday, citing a US official. TSMC shares were down 2.1% around midday.UnitedHealth Group (UNH) reported Q2 adjusted earnings Thursday of $6.38 per diluted share, up from $4.08 a year earlier and above the FactSet consensus of $4.91. Second-quarter revenue was $112.03 billion, up from $111.62 billion a year ago and above the FactSet consensus of $110.81 billion. For 2026, the insurance company raised its adjusted EPS guidance to $19.50 to $20 from greater than $18.25. Analysts expect $18.49. UnitedHealth shares were up 3.3%.Abbott Laboratories (ABT) reported Q2 adjusted earnings Thursday of $1.31 per diluted share, up from $1.26 a year earlier and above the FactSet consensus of $1.28. Second-quarter revenue was $12.59 billion, up from $11.14 billion a year ago and above the FactSet consensus of $12.52 billion. For Q3, Abbott said it expects adjusted diluted EPS of $1.38 to $1.46, compared to the FactSet consensus of $1.42. For 2026, the company raised its adjusted EPS guidance to $5.45 to $5.60 from $5.38 to $5.58. Analysts polled by FactSet expect $5.47. Abbott shares were up 11%.Uber Technologies (UBER) on Thursday said it has entered into a business combination agreement with Delivery Hero in a deal with an equity value of $14.8 billion, or $13.7 billion adjusted for Uber's prior stake purchases. Under the terms of the deal, Delivery Hero shareholders will receive cash consideration of 41.50 euros ($47.60) per share. Uber shares were up 1.6%.GE Aerospace (GE) reported Q2 adjusted earnings Thursday of $2.02 per share, up from $1.66 a year earlier and above the FactSet consensus of $1.86. Second-quarter revenue was $13.35 billion, up from $11.02 billion a year ago and above the FactSet consensus of $11.87 billion. For 2026, the company raised its adjusted EPS guidance to $7.65 to $7.85 from $7.10 to $7.40. Analysts polled by FactSet expect $7.56. GE shares were down 4.3%.Price: $410.53, Change: $-8.95, Percent Change: -2.13%

$ABT$GE$TSM$UBER$UNH
Commodities

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Thursday Amid Semiconductor Stock Weakness

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.3%, and the actively traded Invesco QQQ Trust (QQQ) retreated 0.9% in Thursday's premarket activity, amid weakness in semiconductor stocks.US stock futures were mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures gaining 0.2%, and Nasdaq futures slipping 0.5% before the start of regular trading.US initial jobless claims fell to a level of 208,000 in the week ended July 11 from an upwardly revised 216,000 level in the previous week, compared with expectations for a level of 217,000 in a survey of analysts compiled by Bloomberg.The New York Federal Reserve's services index jumped to 8.7 in July from minus 10.1 in June.US retail sales rose by 0.2% in June, as expected in a survey compiled by Bloomberg and following the previous month's revised 1.0% increase.The Philadelphia Federal Reserve's monthly manufacturing index jumped to 41.4 in July after rising to 10.3 in June, compared with expectations for a much smaller increase to a reading of 12.5 in a survey compiled by Bloomberg as of 7:30 am ET.Reports releasing at 10:00 am ET include the pending home sales data for June, business inventories data for May, and home builder sentiment data for July.Weekly natural gas stocks data will be released at 10:30 am ET.Fed Vice Chair Philip Jefferson is slated to speak on Thursday.In premarket action, bitcoin was down by 1.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.1% lower, Ether ETF (EETH) retreated 1.9%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 2.1%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 1%, the Vanguard Health Care Index Fund (VHT) gained 0.8%, while the iShares US Healthcare ETF (IYH) rose 0.9%. The iShares Biotechnology ETF (IBB) increased marginally by 0.02%.UnitedHealth Group (UNH) stock was up more than 5% premarket after the company reported higher Q2 adjusted earnings and revenue.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.9%, while the Vanguard Industrials Index Fund (VIS) was down 0.7% and the iShares US Industrials ETF (IYJ) was inactive.GE Aerospace (GE) stock was down more than 3% before the opening bell, even after the company reported higher Q2 adjusted earnings and revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.7%, and the iShares US Consumer Staples ETF (IYK) advanced marginally by 0.03%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased 0.4%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.6%.Honda Motor (HMC) shares were up more than 2% pre-bell after a 0.7% decline at the prior close. Nikkei reported that the company plans to begin production of its UC3 electric motorcycle in Vietnam as early as September, shifting manufacturing from Thailand as it looks to capitalize on growing demand for electric two-wheelers in the country.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.UBS Group (UBS) shares traded down 2% in early hours activity following a 2.3% gain in the previous session. Bloomberg News reported, citing an internal memo, that the company hired former Goldman Sachs (GS) managing director Takehiro Sakuramoto to head its debt capital markets division in Japan.EnergyThe iShares US Energy ETF (IYE) gained 0.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.04%.TotalEnergies (TTE) stock was down more than 2% before market open, extending losses from its 0.7% retreat at the end of Wednesday's session. The company said it expects Q2 hydrocarbon production to be nearly 2.4 million barrels of oil equivalent per day, supported by about 4% organic growth.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.5%, and the iShares US Technology ETF (IYW) was 1.2% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined 2.7%, while the iShares Semiconductor ETF (SOXX) fell by 3.7%.Nvidia (NVDA) shares were down more than 1% in premarket activity after advancing 0.3% at Wednesday's close. The company said it is working with Noetra to launch a factory of central processing units and graphics processing units to support the development of a national "Physical AI" infrastructure.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 1% to $80.41 per barrel on the New York Mercantile Exchange. Natural gas was up by 0.8% to $2.95 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 0.4%, while the United States Natural Gas Fund (UNG) was 0.8% higher.Gold futures for July retreated 0.5% to $4,032.80 an ounce on the Comex. Silver futures retreated by 0.7% to $57.02 an ounce. SPDR Gold Shares (GLD) decreased 1.4%, and the iShares Silver Trust (SLV) was 2.9% lower.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$GE$GLD$GS$HMC$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVDA$PMR$QQQ$RTH$SLV$SOXX$SPY$TTE$UBS$UNG$UNH$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Stocks Mostly Down Pre-Bell as Investors Await More Earnings, Retail Sales Data
US Markets

Stocks Mostly Down Pre-Bell as Investors Await More Earnings, Retail Sales Data

US equity markets were mostly tracking in the red before the opening bell Thursday as traders await the latest round of earnings and the June retail sales report.The S&P 500 edged down 0.1% and the Nasdaq was off 0.5% in premarket activity, while the Dow Jones Industrial Average rose 0.2%. The three main indexes finished Wednesday trading higher for the second consecutive session.UnitedHealth (UNH), GE Aerospace (GE), Abbott Laboratories (ABT), Prologis (PLD), US Bancorp (USB), State Street (STT) and Citizens Financial (CFG) are expected to report their latest financial results before the bell, among others. Streaming giant Netflix (NFLX) posts its earnings after the markets close.Taiwan Semiconductor Manufacturing's (TSM) US-listed shares declined 3.9% pre-bell after the semiconductor manufacturer reported its second-quarter results. United Airlines (UAL) was down 2.3% as the air carrier flagged an additional $6 billion in fuel costs for 2026 amid rising oil prices.J.B. Hunt Transport Services (JBHT) jumped 6.4% as the transportation and logistics company's second-quarter results topped market estimates. Apple (AAPL) added 0.2% after finishing Wednesday with a 4% gain amid media reports that the iPhone maker has held talks with bankers in recent months about possible acquisitions of chip companies.Last month's retail sales report is out at 8:30 am ET.Government data showed Wednesday that producer prices unexpectedly dropped on a monthly basis in June amid a steep decline in the cost of energy products. Earlier in the week, an official report showed that consumer prices decreased last month for the first time in more than six years."While still nominally elevated at a dangerously high level, the relative improvement in inflation in June emboldens the more dovish argument that price pressures are already cooling and could retreat further into year-end as the lingering impact from tariffs falls off and energy prices potentially normalize amid -- still tentative -- but ongoing, US-Iran peace negotiations," Stifel said in a note Wednesday.US Treasury yields were up in premarket action, with the two-year rate increasing 3.2 basis points to 4.16% and the 10-year rate adding 2.8 basis points to 4.57%.Thursday's economic calendar also has the weekly jobless claims bulletin at 8:30 am, along with the Philadelphia Fed manufacturing index for July. The housing market index for the current month and the pending home sales index for June are both out at 10 am.Federal Reserve Vice Chair Philip Jefferson, Dallas Fed President Lorie Logan and Kansas City Fed President Jeffrey Schmid are all slated to speak on Thursday.Inflation is more likely to accelerate than cool given price pressures arising from an artificial intelligence boom and major supply shocks, Fed Governor Lisa Cook said Wednesday. Separately, New York Fed President John Williams said that inflation should ease in the next few quarters as energy prices retreat.West Texas Intermediate crude oil dipped less than 0.1% to $79.59 a barrel before the open, while Brent nudged down 0.3% to $84.72.The US Central Command said Wednesday its forces disabled an unladen oil tanker attempting to transit towards an Iranian port in the Arabian Gulf. The US resumed its naval blockade on Iranian ships and ports earlier this week.A spokesperson for Iran's top military command reportedly said Thursday that it will destroy key infrastructure in the Middle East if the US follows through on President Donald Trump's threat to attack power plants and bridges in the country in case a deal isn't finalized, CNBC reported.Gold decreased 0.3% to $4,039 per troy ounce, while bitcoin fell 1.1% to $64,176.

Dow JonesNasdaq CompositeS&P 500$AAPL$ABT$CFG$GE$JBHT$NFLX$PLD$STT$TSM$UAL$UNH$USB
Wire

GE Aerospace Seen Raising 2026 Guidance Despite 2027 Concerns, RBC Says

GE Aerospace (GE) could raise its 2026 adjusted EBIT guidance by about $500 million as strong services demand supports results, though supply limits and slower growth in 2027 may weigh on investor sentiment, RBC Capital Markets said.The company is expected to report its Q2 results Thursday.RBC expects Q2 services revenue to rise 19% and full-year services growth to reach 18%, helped by spare-parts demand, older engines staying in service and limited industry capacity, adding that GE Aerospace is expected to deliver about 2,100 LEAP engines, but said tight supplies and long repair times leave little room for delays or other problems.The Iran conflict and higher oil prices have not yet reduced passenger travel enough to weaken aircraft maintenance and parts spending, according to the note Tuesday.RBC said it does not expect the Q2 report to lift the shares because investors may have already priced in strong results and a higher outlook, saying that attention is shifting to 2027, when services growth may slow as the company compares against stronger prior-year results.The investment firm said the broader aerospace supply chain remains tight, although improving material availability should support both services sales and new engine deliveries.RBC maintained its outperform rating and raised its price target to $400 from $355.Price: $358.02, Change: $+4.29, Percent Change: +1.21%

$GE
Wire

Novartis' Vanrafia Wins Health Canada Approval for IgA Nephropathy

Novartis (NVS) said Health Canada approved Vanrafia to reduce proteinuria in adults with primary immunoglobulin A nephropathy who are at risk of rapid disease progression.The approval was based on an interim analysis of a Phase 3 trial, which showed a statistically significant reduction in 24-hour urine protein-to-creatinine ratio at week 36 with Vanrafia compared with placebo, Novartis said Monday in a statement.Price: $153.62, Change: $-0.43, Percent Change: -0.28%

$GE$NVS
Asia Markets

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

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

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

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

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

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

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