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SPDR Gold Shares

SPDR Gold Shares

$GLD
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224 stories mentioning SPDR Gold SharesUpdated 1d ago

Tracked gold higher for a second day as a falling dollar and yields followed the US-Iran truce and easing inflation worries.

Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Tuesday Amid Inflation Data

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.9% in Tuesday's premarket activity, amid key inflation data releasing this week.US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 0.8% before the start of regular trading.The US trade deficit narrowed to $55.9 billion in April from $56.6 billion in March, coming in slightly below economists' expectations of a $56.1 billion gap.The existing home sales data for May and the wholesale inventory data for April will be released at 10:00 am ET.In premarket action, bitcoin was down by 1.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1% lower, Ether ETF (EETH) retreated by less than 1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.05%, while the Vanguard Industrials Index Fund (VIS) retreated by 0.8% and the iShares US Industrials ETF (IYJ) was 0.9% higher.CECO Environmental (CECO) stock was up more than 10% before market open after the company said it now expects 2026 revenue of about $1.28 billion to $1.38 billion from its acquisition of Thermon Group, up from $940 million to $1 billion it projected previously.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.5%, the Vanguard Health Care Index Fund (VHT) was up 0.3%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 0.9% higher.IDEAYA Biosciences (IDYA) stock was down more than 7% premarket after the company said late Monday it priced an underwritten public offering expected to raise about $300 million in gross proceeds.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.7%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.7% lower.UBS Group (UBS) shares were up more than 2% pre-bell after Reuters reported that Swiss lawmakers are considering proposals that would reduce the capital burden facing UBS under planned banking reforms introduced after the collapse of Credit Suisse.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1.3%, and the iShares US Technology ETF (IYW) was 1.1% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 2.6%, while the iShares Semiconductor ETF (SOXX) rose by 2.5%.Cipher Digital (CIFR) shares were up more than 3% in premarket activity, following a 8.2% rise at the prior close. The company said late Monday that its Stingray Compute unit has priced an $810 million private offering of 6.0% senior secured notes due 2031 at 99.75% of face value.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.1%. The iShares US Consumer Staples ETF (IYK) retreated by 0.3%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced 0.4%. The VanEck Retail ETF (RTH) increased by 0.7%, while the State Street SPDR S&P Retail ETF (XRT) was 0.5% higher.Carnival (CCL) shares were up more than 1% pre-bell after the company deployed Konami Gaming's Synkros casino management system across the Carnival Cruise Line fleet.EnergyThe iShares US Energy ETF (IYE) was down 0.9%, while the State Street Energy Select Sector SPDR ETF (XLE) retreated by 0.5%.Uranium Energy (UEC) stock was down more than 4% before the opening bell after the company reported a wider fiscal Q3 net loss.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 1.9% to $89.57 per barrel on the New York Mercantile Exchange. Natural gas was up 0.8% to $3.17 per 1 million British Thermal Units. The United States Oil Fund (USO) lost 2%, while the United States Natural Gas Fund (UNG) was 1.1% higher.Gold futures for July advanced by 0.1% to $4,365.80 an ounce on the Comex. Silver futures fell by 0.2% to $68.48 an ounce. SPDR Gold Shares (GLD) was up by 0.3%, and the iShares Silver Trust (SLV) increased by 0.7%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$CCL$CECO$CIFR$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IDYA$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QQQ$RTH$SLV$SOXX$SPY$UBS$UEC$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Update: Gold Gives Up All Its Gains This Year as Rising Oil Prices Heighten Inflation Worries

(Updates prices.)Gold fell to a fresh five-month low midafternoon on Monday, falling for a second day as oil prices rose again after Iran and Israel traded strikes on the weekend, heightening concerns central banks will need to raise interest rates to combat the inflation that has followed higher energy costs.Gold for June delivery was last seen down US$5.00 to US$4,360.30 per ounce, the lowest since Jan. 2.The drop comes as Iran on the weekend launched strikes on Israel to deter Israel's occupation of southern Lebanon and end its attacks on Beirut in its war on the Iran-backed Hezbollah militant group. The renewed hostilities are testing the two-month ceasefire between Iran and the United States, as talks between the two countries are stalled due to Iran's insistence Israel first must end its war in Lebanon. The fighting is lowering hopes for a peace deal that would reopen the Strait of Hormuz, freeing up the oil exports from Persian Gulf nations that supplied 20% of daily and boosting inflation.May U.S. consumer price data will be released on Wednesday, with the consensus estimate expecting the Consumer Price Index to rise to 4.2% annualized from a 3.8% pace in April."Gold ... extended Friday's selloff as renewed Israeli strikes on Iran pushed oil prices higher, reigniting inflation concerns. On Friday, an already weakened precious metals market tumbled after a stronger-than-expected US jobs report reinforced expectations that the Federal Reserve may need to hike rates in 2026.," Saxo Bank wrote.The drop comes even as the dollar moved lower, with the ICE dollar index last seen down 0.08 points to 99.99, falling off the highest since March 30. Treasury yields rose, with the yield on the U.S. two-year note last seen up 1.9 basis points to 4.166%, while the 10-year note was paying 4.556%, up 3.4 basis points.

$GCN6$GLD
Sectors

Gold Gives Up All Its Gains This Year as Rising Oil Prices Heighten Inflation Worries

Gold fell to a fresh five-month low early on Monday, falling for a second day as oil prices rose again after Iran and Israel traded strikes on the weekend, heightening concerns central banks will need to raise interest rates to combat the inflation that has followed higher energy costs.Gold for June delivery was last seen down US$8.20 to US$4,357.10, the lowest since Jan. 2.The drop comes as Iran on the weekend launched strikes on Israel to deter Israel's occupation of southern Lebanon and end its attacks on Beirut in its war on the Iran-backed Hezbollah militant group. The renewed hostilities are testing the two-month ceasefire between Iran and the United States, as talks between the two countries are stalled due to Iran's insistence Israel first must end its war in Lebanon. The fighting is lowering hopes for a peace deal that would reopen the Strait of Hormuz, freeing up the oil exports from Persian Gulf nations that supplied 20% of daily oil demand and ending the largest-ever supply shock and boosted inflation.May U.S. consumer price data will be released on Wednesday, with the consensus estimate expecting the Consumer Price Index to rise to 4.2% annualized from 3.8% in April."Gold ... extended Friday's selloff as renewed Israeli strikes on Iran pushed oil prices higher, reigniting inflation concerns. On Friday, an already weakened precious metals market tumbled after a stronger-than-expected US jobs report reinforced expectations that the Federal Reserve may need to hike rates in 2026.," Saxo Bank wrote.The drop comes even as the dollar moved lower, with the ICE dollar index last seen down 0.12 points to 99.95, falling off the highest since March 30. Treasury yields were mostly steady, with the yield on the U.S. two-year note last seen unchanged at 4.147%, while the 10-year note was paying 4.532%, up 0.1 basis points.

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Commodities

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

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

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

Update: Gold Falls as the Dollar and Yields Rise After an Unexpected Surge in May U.S. Employment

(Updates prices.)Gold traded sharply lower midafternoon Friday, falling to the lowest this year as the dollar and yields climbed as the United States reported an unexpected jump in May employment.Gold for July delivery was last seen down US$137.20 to US$4.367.80 per ounce, the lowest since Jan.2.The U.S. Bureau of Labor Statistics reported the country added 172,000 jobs in May, up from 115,000 a month earlier and well ahead of expectations for a rise of 80,000 new positions according to Marketwatch. The unemployment rate held steady at 4.3%.Gold has been pressured by the rising oil prices that have followed the U.S. war on Iran, with buyers concerned central banks will need to raise interest rates to combat rising energy inflation. Traders have turned away from gold as a store of value amid the inflation worries, preferring the dollar as a hedge against a rise in rates.The dollar rose off overnight lows following the data, with the ICE dollar index last seen up 0.63 points to 100.04 after earlier touching 99.16. Treasury yields were sharply higher, with the yield on the U.S. two-year note last seen up 12.7 basis points to 4.176%, while the 10-year note was paying 4.546%, up 6.5 points.

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Sectors

Gold Falls as the Dollar and Yields Rise After an Unexpected Surge in May U.S. Employment

Gold traded lower early on Friday as the dollar and yields climbed as the United States reported an unexpected jump in May employment.Gold for July delivery was last seen down US$28.50 to US$4.476.50 per ounce.The U.S. Bureau of Labor Statistics reported the country added 172,000 jobs in May, up from 115,000 a month earlier and well ahead of expectations for a rise of 80,000 new positions according to Marketwatch. The unemployment rate held steady at 4.3%.Gold has been pressured by the rising oil prices that have followed the U.S. war on Iran, with buyers concerned central banks will need to raise interest rates to combat rising energy inflation. Traders have turned away from gold as a store of value amid the inflation worries, preferring the dollar as a hedge should central banks raise interest rates to slow rising prices.The dollar rose off overnight lows following the data, with the ICE dollar index last seen up 0.1 points to 99.51 after earlier touching 99.16. Treasury yields were sharply higher, with the yield on the U.S. two-year note last seen up 10.2 basis points to 4.151%, while the 10-year note was paying 4.539%, up 5.8 points.

$GCN6$GLD
Commodities

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Friday After May Jobs Report

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.5%, and the actively traded Invesco QQQ Trust (QQQ) retreated by 1.3% in Friday's premarket activity, after the May jobs report.US stock futures were mixed, with S&P 500 Index futures down 0.5%, Dow Jones Industrial Average futures gaining 0.1%, and Nasdaq futures retreating 1% before the start of regular trading.US nonfarm payrolls increased by 172,000 in May, exceeding expectations for an 88,000 gain, while the unemployment rate held at 4.3% and average hourly earnings rose 0.3%, in line with forecasts.The weekly Baker Hughes oil-and-gas rig count posts at 1 pm.April's consumer credit data is scheduled for a 3:00 pm ET release.In premarket action, bitcoin was down by 1.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2% lower, Ether ETF (EETH) retreated by 5.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) gained by 0.2%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.3%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) advanced by 0.1%.Lululemon Athletica (LULU) shares were down more than 11% pre-bell after multiple analysts cut their price targets following the athletic apparel retailer's lowering of its full-year outlook amid weak sales trends.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.8%, the Vanguard Health Care Index Fund (VHT) retreated by 0.3%, while the iShares US Healthcare ETF (IYH) slipped 0.7%. The iShares Biotechnology ETF (IBB) was flat.Cooper (COO) was up by nearly 8% premarket after the company reported higher fiscal Q2 adjusted earnings and revenue late Thursday.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.1%, while the Vanguard Industrials Index Fund (VIS) gained 0.5% and the iShares US Industrials ETF (IYJ) was inactive.CAE (CAE) gained by nearly 3% before the opening bell. The company said it has received regulatory approval for the renewal of its normal course issuer bid to purchase, for cancellation, up to about 16.1 million common shares, or about 5% of its outstanding share capital as of May 29.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.Affirm (AFRM) shares were down more than 2% pre-bell after closing the prior session with a 3.7% gain. Affirm and Canada Pension Plan Investment Board said Thursday that they renewed and expanded their forward-flow agreement for consumer installment loans.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.8%, and the iShares US Technology ETF (IYW) was 1.1% lower, while the iShares Expanded Tech Sector ETF (IGM) was up 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 1.7%, while the iShares Semiconductor ETF (SOXX) fell by 3%.Nvidia (NVDA) shares were down 1.8% in premarket activity after ending Thursday's session with a 1.8% increase. Multiple media outlets reported Chief Executive Officer Jensen Huang as saying that the company cleared Samsung Electronics, SK Hynix, and Micron Technology to supply advanced high-bandwidth memory for its HBM4 artificial intelligence accelerators.EnergyThe iShares US Energy ETF (IYE) was up 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was 0.2% higher.X-Energy (XE) stock was up more than 1% before the opening bell a day after the company reported total Q1 revenues and grant income of $43.4 million, representing a 109% increase compared to the prior-year period.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.2% to $92.87 per barrel on the New York Mercantile Exchange. Natural gas was down 0.9% to $3.31 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 0.3%, while the United States Natural Gas Fund (UNG) was 1.7% lower.Gold futures for July retreated by 0.3% to $4,492.60 an ounce on the Comex. Silver futures declined by 1.4% to $72.91 an ounce. SPDR Gold Shares (GLD) was down by 0.2%, and the iShares Silver Trust (SLV) decreased by 1.5%.

Dow JonesNasdaq CompositeS&P 500$AFRM$BETH$BITO$CAE$COO$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LULU$NVDA$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XE$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Update: Gold Trading Higher as the Dollar and Yields Fall as Israel and Lebanon Agree to a Ceasefire

(Updates prices.)Gold prices were higher midafternoon on Thursday as the dollar and treasury yields weakened as oil prices dropped after Israel and Lebanon reached a ceasefire agreement, lowering the inflation fears that have kept the precious mental rangebound since the start of the war between the United States and Iran.Gold for July delivery was last seen up US$40.50 to US$4,507.40 per ounce.The rise comes as Israel and Lebanon agreed to a ceasefire, one of Iran's key demands for agreeing for a deal of its own to end the war with the United States and reopen the Strait of Hormuz. The rise in oil prices that has followed the start of the war has boosted inflation, raising worries central banks will need to hike interest rates, bearish for gold since it pays no interest. However oil traded sharply lower Thursday following the ceasefire agreement."Gold fell to test its 200-day moving average once again on Wednesday as higher oil prices kept inflation concerns elevated following renewed tensions in the Middle East. Those losses were reversed in early trading on Thursday after Israel and Lebanon announced a conditional ceasefire. Overall, gold remains rangebound, with steady central bank demand being offset by ETF outflows and short-term momentum traders positioning for a deeper correction," Saxo Bank noted.The dollar fell off a two-month high as oil prices weakened, with the ICE dollar index last seen down 0.15 points to 99.39. Treasury yields also fell, with the U.S. two-year note last seen paying 4.053%, down 3.3 basis points, while the yield on the 10-year note was down 2.7 points to 4.473%.

$GCN6$GLD
Sectors

Gold Trading Higher as the Dollar and Yields Fall as Israel and Lebanon Agree to a Ceasefire

Gold prices rose early on Thursday as the dollar and treasury yields weakened as oil prices dropped after Israel and Lebanon reached a ceasefire agreement, lowering the inflation fears that have kept the precious mental rangebound since the start of the war between the United States and Iran.Gold for July delivery was last seen up US$59.10 to US$4,526.00 per ounce.The rise comes as Israel and Lebanon agreed to a ceasefire, one of Iran's key demands for agreeing for a deal of its own to end the war with the United States and reopen the Strait of Hormuz. The rise in oil prices that has followed the start of the war has boosted inflation, raising worries central banks will need to hike interest rates, bearish for gold since it pays no interest. However oil traded sharply lower Thursday following the ceasefire agreement."Gold fell to test its 200-day moving average once again on Wednesday as higher oil prices kept inflation concerns elevated following renewed tensions in the Middle East. Those losses were reversed in early trading on Thursday after Israel and Lebanon announced a conditional ceasefire. Overall, gold remains rangebound, with steady central bank demand being offset by ETF outflows and short-term momentum traders positioning for a deeper correction," Saxo Bank noted.The dollar fell off a two-month high as oil prices weakened, with the ICE dollar index last seen down 0.3 points to 99.23. Treasury yields also fell, with the U.S. two-year note last seen paying 4.043%, down 4.3 basis points, while the yield on the 10-year note was down 4.5 points to 4.455%.

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Commodities

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Thursday as Investors Weigh Economic Data

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4%, and the actively traded Invesco QQQ Trust (QQQ) fell by 1.2% in Thursday's premarket activity, as investors weighed economic data amid corporate earnings.US stock futures were mixed, with S&P 500 Index futures down 0.5%, Dow Jones Industrial Average futures gaining 0.4%, and Nasdaq futures retreating 1.3% before the start of regular trading.US employers announced 97,006 planned job cuts in May, the highest total for the month since 2020, driven largely by reductions in the technology sector, according to Challenger, Gray & Christmas on Thursday.US initial jobless claims rose to 225,000, above expectations of 215,000 and up from 212,000 in the prior week.US nonfarm productivity growth for the first quarter was revised down to an annualized rate of 0.3% from a preliminary estimate of 0.8%, falling short of expectations for a 0.4% increase, while unit labor cost growth was revised down to 1.8% from 2.3%, below forecasts of a 2.4% gain.Weekly natural gas stocks are due to be released at 10:30 am ET.Federal Reserve Richmond President Thomas Barkin and San Francisco President Mary Daly are slated to speak on Thursday.In premarket action, bitcoin was down by 4.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.4% lower, Ether ETF (EETH) retreated 3.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 3%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 1.5%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 1.4%. The iShares US Consumer Staples ETF (IYK) was 0.8% higher. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced by 0.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.5%.LGI Homes (LGIH) shares were down more than 4% pre-bell after falling 5% at the prior close. The company said late Wednesday that it closed 498 homes in May, compared with 416 homes a year earlier.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 1.5%, the Vanguard Health Care Index Fund (VHT) was up 1.2%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 1% higher.BrightSpring Health Services (BTSG) stock was down more than 3% premarket after the company said late Wednesday it has priced a secondary offering by certain shareholders of 15 million shares at $58.75 per share.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.8%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was up 1%.X-Energy (XE) stock was down more than 3% before the opening bell after the company reported a wider Q1 net loss.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 2.3%, and the iShares US Technology ETF (IYW) was 1.6% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 2.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) fell by 3.8%, while the iShares Semiconductor ETF (SOXX) declined by 4.3%.Accenture (ACN) shares were up more than 2% in premarket activity after the company agreed to a deal to embed AI and digital technologies in the operations of Tokyo Electric Power subsidiary TEPCO Solution Advance.EnergyThe iShares US Energy ETF (IYE) gained 0.1%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.7%.Clean Energy Fuels (CLNE) stock was up more than 1% before the opening bell after the company said it has begun producing renewable natural gas at its East Valley Dairy facility in Jerome, Idaho, its eighth dairy RNG project.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 2.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 3% lower.Marsh & McLennan (MRSH) shares were up more than 1% pre-bell after the insurance broker and certain units signed a new $4.25 billion multi-currency unsecured five-year revolving credit facility with Citibank (C).CommoditiesFront-month US West Texas Intermediate crude oil retreated by 3.7% to $92.46 per barrel on the New York Mercantile Exchange. Natural gas was up 1.2% to $3.25 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 3.9%, while the United States Natural Gas Fund (UNG) was 1.1% higher.Gold futures for July gained by 1.6% to $4,539.90 an ounce on the Comex. Silver futures advanced by 1.5% to $74.77 an ounce. SPDR Gold Shares (GLD) was up by 1.1%, and the iShares Silver Trust (SLV) increased by 1.3%.

Dow JonesNasdaq CompositeS&P 500$ACN$BETH$BITO$BTSG$C$CLNE$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LGIH$MRSH$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XE$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
International

TSX Closer: Index Falls From a Record Close; Rosenberg Research Lifts Exposure to Gold and Gold Miners

The Toronto Stock Exchange fell from a record close Wednesday on profit taking, but also as Canadian investors come to terms with the fact the country is in a 'technical' recession just as the United States ramps us its demands with trade talks involving the two nations set to resume soon.The S&PTSX Composite Index closed down 367.92 points, or 1.05%, to 34,801.54, with most sectors lower, led by Info Tech, down near 3.5%. The Battery Metals Index led gainers, up by near 3%.Energy also rose, up by 1.2% as West Texas Intermediate crude oil rose for a third day with the ceasefire between Iran and the United States appearing to fracture after the two sides exchanged strikes, lowering hopes for a deal to end the war and reopen the Strait of Hormuz. WTI oil for July delivery closed up US$2.26 to settle at US$96.02 per barrel, while August Brent oil was up US$1.88 to US$97.88.But Base Metals lost 3.2%, not helped by gold trading lower as the dollar rose to a two-month high after oil prices rose following fresh hostilities between the U.S. and Iran, renewing worries energy inflation will force central banks to lift interest rates. Gold for July delivery was down US$53.80 to US$4,466.10 an ounce.Still, Rosenberg Research has increased its exposure to gold exchange-traded (GLD) and gold miners (GDX). "We made several adjustments to the Rosie Model Portfolio to put into action some of the constructive themes we have been writing about recently, while also taking profits and rebalancing some of our strongest performers." it said on Wednesday.Rosenberg Research continues to see structural support for gold prices. Which, it said, should support the profit outlook for gold miners. After a period of weak, range-bound performance driven by war-related market conditions, Rosenberg Research sees this as a good point to rebuild exposure. Following the adjustment, gold (GLD) has a 5.7% weight in the portfolio, while gold miners (GLDX) have a 5.8% weight, it noted.On the economics front, Canada's economy shrank in the last two quarters, which meets the definition of a 'technical recession'. But some economists say that label is misleading, while others argue that the distinction doesn't really matter, CTV News is reporting. "Technically, we are in a recession," Colin Mang, assistant professor of economics at McMaster University, told CTV News Channel on Tuesday. "We've had two quarters where overall spending in the economy dropped, but to put things into context, the decline from the fourth quarter of 2025 to the first quarter of 2026 was only about $1 million. That represents 0.03% of our total $3.2 trillion economy."CTV noted Mang's comments came after Statistics Canada released its latest gross domestic product (GDP) data on Friday, which found that the slight first-quarter GDP drop followed a dip of 1% in the fourth quarter of last year, a number StatCan revised down. According to StatCan, the Canadian economy has seen negative real GDP growth in three of the last four quarters.On top of that, Canada is already on the back foot ahead of trade talks with the United States resuming. Prime Minister Mark Carney said Wednesday his Liberal government will soon introduce legislation on forced labor in supply chains after the Trump administration proposed a 10% additional tariff on Canada and other countries following an investigation into the issue.Trade discussions between the two countries. will continue ahead of the July 1 CUSMA review deadline, but they are likely to extend beyond that date as the nations work through unresolved trade issues and tariff disputes.

S&P/TSX CompositeS&P/TSX Composite$CXY$GDX$GLD
Commodities

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

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

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

Update: Gold Trading Higher Following Reports Peace Negotiations Between Iran and the U.S. are Continuing

(Updates prices.)Gold rose midafternoon Tuesday but fell back from early highs as the dollar rose.Gold for July delivery was last seen up US$14.50 to US$4,520.80 per ounce, after earlier touching US$4,571.30.The rise comes as Reuters on Tuesday, citing Iranian media, reported Iran is considering a fresh U.S. proposal to end the war and reopen the critical Strait of Hormuz, while U.S. President Trump said on Monday talks were continuing. This is a day after the two sides traded strikes and Iran was said it would not continue talks as long as Israel continued to attack its Hezbollah allies in Lebanon.Hope for an end to the war is lowering oil prices and easing fears over the rise in inflation that has followed the closure of the Strait since the war began on Feb. 28, blocking the exports from Persian Gulf nations that supplied a fifth of daily oil demand. Traders have turned away from gold as a store of value amid the inflation worries, preferring the dollar as a hedge should central banks raise interest rates to slow rising prices."Gold continues to take its cues from the oil market given crude's influence on inflation expectations and, by extension, interest rates, bond yields and the dollar," Saxo Bank noted.The dollar was higher, with the ICE dollar index last seen up 0.06 points to 99.26. Treasury yields rose, with the U.S. two-year note last seen paying 4.053%, up 1.8 basis points, while the yield on the 10-year note was up 0.5 points to 4.458%.

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Sectors

Gold Trading Higher Following Reports Peace Negotiations Between Iran and the U.S. are Continuing

Gold rose early Tuesday as the dollar weakened following reports Iran is reviewing a fresh U.S. offer to end their war and reopen the Strait of Hormuz.Gold for July delivery was last seen up $55.90 to US$4,562.20 per ounce.The rise comes as Reuters on Tuesday, in citing Iranian media, reported Iran is considering a fresh U.S. proposal to end the war and reopen the critical Strait of Hormuz, while U.S. President Trump said on Monday talks were continuing. This is a day after the two sides traded strikes and Iran was said it would not continue talks as long as Israel continued to attack its Hezbollah allies in Lebanon.Hope for an end to the war is lowering oil prices and easing fears over the rise in inflation that has followed the closure of the Strait since the war began on Feb. 28, blocking the exports from Persian Gulf nations that supplied a fifth of daily oil demand. Traders have turned away from gold as a store of value amid the inflation worries, preferring the dollar as a hedge should central banks raise interest rates to slow rising prices."Gold continues to take its cues from the oil market given crude's influence on inflation expectations and, by extension, interest rates, bond yields and the dollar," Saxo Bank noted.The dollar fell early, with the ICE dollar index last seen down 0.13 points to 99.07. Treasury yields were steady, with the U.S. two-year note last seen paying 4.037%, up 0.4 basis points, while the yield on the 10-year note was down 0.9 points to 4.444%.

$GCN6$GLD
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Tuesday as Traders Assess AI Momentum

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.2% and the actively traded Invesco QQQ Trust (QQQ) retreated by 0.1% in Tuesday's premarket activity, as investors assessed whether recent AI-driven gains can be sustained.US stock futures were also lower, with S&P 500 Index futures down 0.2%, Dow Jones Industrial Average futures slipping 0.5%, and Nasdaq futures losing 0.1% before the start of regular trading.The Job Openings and Labor Turnover Survey, or JOLTS, for April will be released at 10:00 am ET.In premarket action, bitcoin was down by 2.9%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.9% lower, Ether ETF (EETH) retreated by 1.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) fell by 3%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) was flat, while the Vanguard Industrials Index Fund (VIS) was down 0.1% and the iShares US Industrials ETF (IYJ) was inactive.Generac (GNRC) stock was up more than 9% before the opening bell after the company signed a global supply agreement with an unnamed hyperscale data center operator to supply backup power generators.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) was little changed. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.7% higher.UP Fintech (TIGR) shares were down more than 2% pre-bell after the company swung to a Q1 non-GAAP net loss.EnergyThe iShares US Energy ETF (IYE) was down 2%, while the State Street Energy Select Sector SPDR ETF (XLE) was 0.3% lower.BW LPG (BWLP) stock was up 0.7% before market open after the company reported higher Q1 earnings.HealthcareThe State Street Health Care Select Sector SPDR ETF (XLV), Vanguard Health Care Index Fund (VHT) and iShares US Healthcare ETF (IYH) were little changed. The iShares Biotechnology ETF (IBB) was inactive.Hims & Hers Health (HIMS) stock was up 3% premarket after the company said it had completed its acquisition of Eucalyptus, expanding its consumer health platform across Australia, Canada, Germany, and other international markets.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained slightly, and the iShares US Technology ETF (IYW) was marginally down, while the iShares Expanded Tech Sector ETF (IGM) was up 0.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased 3%, while the iShares Semiconductor ETF (SOXX) rose by 2.5%.Nvidia (NVDA) shares were up more than 1% in premarket activity after Reuters reported, citing CEO Jensen Huang at the Computex event in Taipei, that the company has enough supply to support strong growth in its central processing units and graphics processing units.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 0.4% lower. The iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.5% higher.Amazon.com (AMZN) shares were down more than 1% pre-bell, extending a 3.5% fall at Monday's close. The company said Tuesday its Prime Day shopping event will take place from June 23 through June 26.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.8% to $91.41 per barrel on the New York Mercantile Exchange. Natural gas was down 1.8% to $3.12 per 1 million British Thermal Units. The United States Oil Fund (USO) was down by 1.1%, and the United States Natural Gas Fund (UNG) was 2% lower.Gold futures for July retreated by 1.2% to $4,558.30 an ounce on the Comex. Silver futures rose by 2% to $76.73 an ounce. SPDR Gold Shares (GLD) was up by 1%, and the iShares Silver Trust (SLV) increased by 1.9%.

Dow JonesNasdaq CompositeS&P 500$AMZN$BETH$BITO$BWLP$EEM$EETH$EXI$FAS$FAZ$GLD$GNRC$HIMS$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVDA$PMR$QQQ$RTH$SLV$SOXX$SPY$TIGR$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Commodities

Update: Gold Falls Off a Two-Week High as Oil Rises as the U.S. and Iran Trade Strikes

(Updates prices.)Gold fell off a two-week high midafternoon Monday as the dollar rose after fresh attacks between the United States and Iran boosted oil prices, reviving inflation worries.Gold for July delivery was last seen down US$81.70 to US$4,511.30 per ounce, after rising to the highest since May 14 on Friday.The drop comes after the United States over the weekend attacked Iranian military sites, while The Guardian reported Iran on Monday targeted a U.S. military base in Kuwait and Iran said it will discontinue negotiations until Israel ends its war on Lebanon, pushing oil prices up from a six-week low.The hostilities have dimmed prospects for a end to the war that began on Feb. 28, when the U.S. and Israel launched strikes on Iran, which responded by blockading the Strait of Hormuz, the narrow waterway that is the chokepoint for 20% of daily oil demand supplied by Persian Gulf countries. The rise in oil since the start of the war has raised inflation and boosted the dollar on worries central banks will need to hike interest rates to slow rising prices."Gold trades lower following last week's rebound from key support as oil prices recovered and progress in US-Iran peace talks remained slow. The price action highlights the market's ongoing struggle to balance the inflationary implications of elevated energy prices -- which tend to support the dollar and bond yields -- against longer-term bullish drivers such as de-dollarisation, fiscal debt concerns, and persistent central bank demand," Saxo Bank wrote.The dollar was higher early, with the ICE dollar index last seen up 0.26 points to 99.17. Treasury yields were also higher, with the U.S. two-year note last seen paying 4.055%, up 4.5 basis points, while the yield on the 10-year note was up 2.8 points to 4.471%.

$GCN6$GLD
Sectors

Gold Falls Off a Two-Week High as Oil Rises as the U.S. and Iran Trade Strikes

Gold fell off a two-week high early Monday as the dollar rose after fresh attacks between the United States and Iran boosted oil prices, reviving inflation worries.Gold for July delivery was last seen down $62.90 to US$4,530.10 per ounce, after rising to the highest since May 14 on Friday.The drop comes after the United States over the weekend attacked Iranian military sites, while The Guardian reported Iran on Monday targeted a U.S. military base in Kuwait, pushing oil prices up from a six-week low.The hostilities have dimmed prospects for a end to the war that began on Feb. 28, when the U.S. and Israel launched strikes on Iran, which responded by blockading the Strait of Hormuz, the narrow waterway that is the chokepoint for 20% of daily oil demand supplied by Persian Gulf countries. The rise in oil since the start of the war has raised inflation and boosted the dollar on worries central banks will need to hike interest rates to slow rising prices."Gold trades lower following last week's rebound from key support as oil prices recovered and progress in US-Iran peace talks remained slow. The price action highlights the market's ongoing struggle to balance the inflationary implications of elevated energy prices -- which tend to support the dollar and bond yields -- against longer-term bullish drivers such as de-dollarisation, fiscal debt concerns, and persistent central bank demand," Saxo Bank wrote.The dollar was higher early, with the ICE dollar index last seen up 0.15 points to 99.06. Treasury yields were also higher, with the U.S. two-year note last seen paying 4.037%, up 2.7 basis points, while the yield on the 10-year note was up 1.2 points to 4.455%.

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Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Monday as AI Optimism Overshadows Middle East Risks

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.2% in Monday's premarket activity, as enthusiasm for new artificial intelligence initiatives from major technology companies outweighs concerns about ongoing U.S.-Iran tensions and elevated energy prices.US stock futures were also higher, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 0.2% before the start of regular trading.S&P Global manufacturing data for May will be released at 9:45 am ET, followed by the construction spending data for April, and the ISM's manufacturing reading for May at 10:00 am ET.In premarket action, bitcoin was down by 1.9%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2% lower, Ether ETF (EETH) retreated by 1.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 1.7%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.3% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat. The iShares US Consumer Staples ETF (IYK) retreated by 0.9%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.6%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) advanced by 0.4%.Taylor Morrison Home (TMHC) shares were up more than 22% pre-bell after the company agreed to be acquired by Berkshire Hathaway (BRK.A, BRK.B) for $6.8 billion in cash and a total equity value of $8.5 billionWinners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.1%, the Vanguard Health Care Index Fund (VHT) was down 0.03%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) gained by 0.03%.Grail's (GRAL) stock was down more than 17% premarket after the company reported its NHS-Galleri trial missed its primary endpoint of reducing combined Stage III and IV cancer diagnoses.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.5%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.4% lower.Coinbase Global (COIN) stock was down more than 3% before market open. Chief Legal Officer Paul Grewal sold 1,960 company shares for $346,683 on May 27, a regulatory filing with the US Securities and Exchange Commission showed.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.4%, while the Vanguard Industrials Index Fund (VIS) was down 0.5% and the iShares US Industrials ETF (IYJ) lost by 0.6%Diana Shipping (DSX) stock was down more than 0.4% before the opening bell after the company said Sunday it has issued an open letter urging Genco Shipping & Trading (GNK) investors to elect its six independent board candidates at the upcoming June 18 annual meeting. Genco stock was 0.8% lower.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1.1%, and the iShares US Technology ETF (IYW) was 1.1% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.8%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 0.3% lower, while the iShares Semiconductor ETF (SOXX) declined by 0.7%.Dell Technologies (DELL) shares were up more than 1% in premarket activity a day after the company said it has launched its XPS 13 laptop.EnergyThe iShares US Energy ETF (IYE) was 0.1% higher, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.5%.Venture Global (VG) stock was up more than 1% before the opening bell after the company said its subsidiary Venture Global LNG plans to issue $2.25 billion in senior secured notes due 2034 and 2036.CommoditiesFront-month US West Texas Intermediate crude oil gained by 2.3% to $89.40 per barrel on the New York Mercantile Exchange. Natural gas was down 2.3% to $3.21 per 1 million British Thermal Units. The United States Oil Fund (USO) rose by 1.8%, while the United States Natural Gas Fund (UNG) was 2.4% lower.Gold futures for July retreated by 1.2% to $4,537.70 an ounce on the Comex. Silver futures increased by 0.3% to $76.10 an ounce. SPDR Gold Shares (GLD) was down by 1%, and the iShares Silver Trust (SLV) gained 0.4%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BRK.A$BRK.B$COIN$DELL$DSX$EEM$EETH$EXI$FAS$FAZ$GLD$GRAL$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QQQ$RTH$SLV$SOXX$SPY$TMHC$UNG$USO$VDC$VG$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
International

TSX Closer: The Index Rises For a Second Straight Day, Back To Within 100 Points of Its Record Close

The Toronto Stock Exchange was up for a second-straight session Friday, even with commodity prices and sectors mixed, as today's Canadian GDP data was seen "further extending the hike runway" while talk of Canada being in a recession was played down.The S&P/TSX Composite Index closed up 240.87, points or 0.7%, to 34,758.57, adding to the 105 points gained Thursday, on some relief that interest rates are unlikely to be lifted soon, which would increase borrowing costs for many companies. This leaves the index within a 100 points of Monday's record close of 34,830.Among sectors, Energy was down 1.15%, the only one to fall by more than 1%, with oil prices weaker. Info Tech gained near 4.7% and the Battery Metals Index was up by 3.7%.Base Metals was up 0.4%, helped by a higher gold price, as Rosenberg Research published 'Gold Miners: A Tactical Opening After the Pullback?' in which it said gold's pullback has "de-rated the miners, creating a high-beta tactical opportunity if macro headwinds start to fade."Among key takeaways, Rosenberg Senior Markets Strategist Mehmet Beceren said gold's pullback looks more like a short-term macro unwinding as the structural story remains intact. Higher oil prices, a firmer U.S. dollar, and rising bond yields have pressured bullion, but central bank demand, fiscal risk, and geopolitical fragmentation remain intact, he noted.Beceren said gold miners may now offer a tactical high-beta entry point. The stocks have de-rated alongside spot gold, yet earnings power remains strong with bullion still above $4,000 per ounce; any easing in the U.S. dollar, yields, and energy-cost pressures could revive margins and multiples, he added.On the economics front, earlier Friday Canadian GDP came in sharply below expectations for the first quarter, edging down 0.1% on an annualized rate to mark a second consecutive quarterly decline following a revised 1% ) drop in Q4, down from the originally reported drop of 0.6%. Well below, as RBC Assistant Chief Economist Nathan Janzen noted, preliminary estimates of monthly output through March released a month ago that were pointing to growth closer to a 2% rate in Q1.Although the Q1 GDP decline is very small, two consecutive quarters of GDP decline are "historically unusual", Janzen said. But underlying details, for a second consecutive quarter, look firmer than what would be typically expected at, say, the beginning of a recession, he added.The data will still likely put more focus on the May labor market data in the week ahead, Janzen said, noting employment numbers have also softened in recent months, and the unemployment rate increased into April. "But we continue to think underlying details in both the labor market and GDP data are better than headline growth number suggest," he added.Janzen said Canada's economic outlook remains contingent on U.S. international trade policy remaining broadly stable and the oil price shock continues to cut into household purchasing power. But he looks for the unemployment rate to drift gradually lower this year and for per-capita GDP growth to continue to broadly improve.Separately, Simon Deeley and Jason Daw at RBC Dominion Securities in a 'Canada Rates Strategy' note said Bank of Canada hike pricing is being reduced and pushed further out. This is the logical move following weaker recent results from the three key macro metrics: labor market, inflation and output, they added. Today's softer GDP result and "ever so slightly resulting in a technical recession", is at odds with where monthly GDP figures were indicating prior to the data, the duo noted. "We saw some discrepancy between lackluster labour market performance in Q1 (unemployment rate remaining sticky high, hours worked flat) and the GDP tracking, but today's GDP result reduces that considerably," they said.According to Deeley and Daw, they had discussed the extending runway for hikes following the softer April inflation data and today's data reinforces that view. The BoC flagged risk scenarios to both cuts and hikes at the April meeting, though more convincing on the hike side, but their overarching message was one of comfort with where policy was positioned.. Small but meaningful slack in the labor and product markets combine with underlying inflation roughly on the 2% target to provide little impetus for the BoC to move off their current setting at the bottom-end of the 2.25-3.25% neutral range, they added.National Bank Financial economists Taylor Schleich, Matthieu Arseneau and Alexandra Ducharme asked if the description of the Canadian economy in a 'technical recession' accurate, and should we be concerned? "Not really," they said. First, the trio noted, the 0.1% annualized contraction is so small that there is a risk that, after revision, it will cross back over the growth threshold. Secondly, they noted, while today's data is "undoubtedly disappointing", there is a key variable that must be taken into account when analyzing Canadian GDP data: the population. Due to the ongoing slowdown in immigration decided by Ottawa, the country's population was smaller in the first quarter of 2026 than in the fourth quarter of 2025. This means that real GDP per capita growth was largely positive (+0.9%) in the last quarter and has been on an upward trend for two years.Of commodities, gold traded higher for a second day midafternoon Friday as the dollar weakened on expectations the U.S. war on Iran is nearing an end, pushing oil prices lower and easing inflation worries that have pushed up the currency. Gold for July delivery was up US$60.70 to US$4,593.10 per ounce.But West Texas Intermediate crude oil closed at a six-week low amid reports the U.S. and Iran will extend their tenuous ceasefire while a Trump Administration official said the two sides are nearing a deal to end the war. WTI crude oil for July delivery closed down US$1.54 to settle at US$87.36 per barrel, the lowest since April 17, while July Brent oil was down US$1.74 to US$91.97.

S&P/TSX CompositeS&P/TSX Composite$CXY$GLD
Sectors

Update: Gold Trading Higher Again on Expectations the U.S. and Iran are Near a Peace Deal

(Updates prices.)Gold traded higher for a second day midafternoon on Friday as the dollar weakened on expectations the U.S. war on Iran is nearing an end, pushing oil prices lower and easing the inflation worries that have pushed up the currency.Gold for July delivery was last seen up US$60.70 to US$4,593.10 per ounce.The Wall Street Journal reported U.S. Treasury Secretary Scott Bessent said the Trump Administration is near a deal to end the war, which enters its fourth month today. The paper said President Trump is pressing Iran for a commitment to surrender its stocks of enriched uranium and fully reopen the Strait of Hormuz. Thursday reports that the two countries have extended a ceasefire for 60 days, are also pushing oil prices lower and easing worries energy inflation will force central banks to raise interest rates."The easing of energy-driven inflation concerns helped push bond yields and the dollar lower, providing support to bullion," Saxo Bank noted.The dollar fell, with the ICE dollar index last seen down 0.13 points to 99.06. Treasury yields eased, with the U.S. two-year not last seen paying 4.01%, down 2.1 basis points, while the yield on the 10-year note was unchanged at 4.448%.

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