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Sectors

Sector Update: Financial Stocks Edge Higher Pre-Bell Thursday

Financial stocks were edging higher pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.1% lower.HSBC Holdings (HSBC) said Pam Kaur plans to step down as chief financial officer and executive director next year. Shares of HSBC Holdings were down more than 1% premarket.UBS (UBS) plans to cease its fund sales unit in China at the end of September, the company told Reuters in a statement. UBS stock was down more than 1% pre-bell.Mastercard (MA) has launched Mastercard Wallet Pay, a portfolio of payment tools meant to improve interoperability for digital wallets in contactless, QR code, and online payments. Mastercard shares were 0.4% higher premarket.

$FAS$FAZ$HSBC$MA$UBS$XLF
Insider Trading

Mastercard Insider Sold Shares Worth $547,837, According to a Recent SEC Filing

Linda Pistecchia Kirkpatrick, Chief Services Officer, on August 31, 2026, sold 923 shares in Mastercard (MA) for $547,837. Following the Form 4 filing with the SEC, Kirkpatrick has control over a total of 29,065 Class A common shares of the company, with 29,065 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1141391/000114139126000102/xslF345X05/wk-form4_1788293199.xml

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Wire

Carnival Launches Carnival Rewards, Carnival Rewards Mastercard

Carnival (CCL) said Tuesday it launched Carnival Rewards, a new loyalty program that gives guests more opportunities to earn rewards.The program introduces Carnival Rewards Points, which are earned and can be redeemed for Carnival cruises and onboard experiences, plus Status Qualifying Stars, which add status and unlock other benefits, the company said.Carnival and Barclays US (BCS) also launched the new Carnival Rewards Mastercard (MA). The card allows holders to earn rewards through everyday spending and redeem them to enhance their Carnival experience.Price: $23.70, Change: $-0.20, Percent Change: -0.82%

$BCS$CCL$MA
Insider Trading

Mastercard Insider Sold Shares Worth $4,868,203, According to a Recent SEC Filing

J. Mehra Sachin, Chief Business Officer, on August 19, 2026, sold 8,444 shares in Mastercard (MA) for $4,868,203. Following the Form 4 filing with the SEC, Sachin has control over a total of 39,916 Class A common shares of the company, with 39,916 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1141391/000142753126000005/xslF345X05/wk-form4_1787265475.xml

$MA
Fintech, Payments Firms Outperform Expectations Amid Solid Consumer Spending, RBC Says
US Markets

Fintech, Payments Firms Outperform Expectations Amid Solid Consumer Spending, RBC Says

Financial technology and payments companies outperformed quarterly estimates as consumer spending turned out to be better than expected, though the Middle East conflict weighed on certain guides, RBC Capital Markets said in a note emailed Thursday.The average revenue beat relative to consensus was 1.3% for 18 fintech and payments firms, with a 2.3% beat on earnings per share, according to the note. Twelve companies topped estimates, while three delivered a miss."Consumer spending data from the payments universe was broadly positive for the US in (the second quarter), with the card networks reporting their strongest domestic volumes in years," RBC analyst Daniel Perlin said.Payments giants Visa (V) and Mastercard (MA) reported annual volume gains in the most recent quarter, alongside an increase in PayPal's (PYPL) US total payment volume, according to the RBC note.The Iran war continued to weigh on several companies as the associated travel disruption persisted for longer than expected, Perlin wrote.Global Payments (GPN), which processes for 12 of the largest Middle Eastern airlines, was the most affected, while Shift4 Payments (FOUR) forecast a $25 million headwind for the third quarter. Visa said the impact moderated through the second quarter, though its rest-of-year guidance assumes current levels of disruption persist, RBC said.Mastercard, however, saw cross-border travel improve as the second quarter progressed.Factors such as tariff refunds, a lower tax rate and comparison issues create "some messiness" in the setup for the second half of the year, the brokerage said."A common guidance theme across the group was the expectation of (second half) acceleration, for various reasons such as the normalization of one-time items, the onboarding of newly signed contracts, the lapping of elevated prior-year non-recurring revenues, the deployment of cost synergies, and incremental contributions from (artificial intelligence)-driven efficiency programs," Perlin wrote.RBC highlighted Broadridge Financial Solutions (BR), Flywire (FLYW), Mastercard, Visa, SS&C Technologies (SSNC), and Block (XYZ) as best positioned post earnings.Buy-now-pay-later provider Affirm Holdings (AFRM), Jack Henry & Associates (JKHY), PicS (PICS), and Wealthfront (WLTH) are yet to report results.Price: $59.56, Change: $+0.36, Percent Change: +0.61%

$AFRM$BR$FLYW$FOUR$GPN$JKHY$MA$PICS$PYPL$SSNC$V$WLTH$XYZ
Wire

Mastercard to Integrate Services Into Fiserv Commerce Hub

Mastercard (MA) and Fiserv (FISV) said Tuesday they formed a global partnership to offer enterprise merchants a single platform for payment acceptance and value-added services.The companies said they will integrate Mastercard Merchant Cloud into Fiserv Commerce Hub to offer a unified payment platform across online, mobile, and in-store payments.The integration combines merchant acquiring services with advanced processing tools to simplify international payments, the companies said.Price: $572.17, Change: $+1.19, Percent Change: +0.21%

$FISV$MA
Wire

Mastercard Completes BVNK Acquisition

Mastercard (MA) said Monday it has completed its acquisition of BVNK, a provider of stablecoin infrastructure.In March, Mastercard agreed to buy BVNK for up to $1.8 billion, including contingent payments of $300 million to expand its support of digital assets and value movement across currencies, rails and regions.Price: $582.94, Change: $+9.56, Percent Change: +1.67%

$MA
Wire

Mastercard's Q2 Results Show Resilience in Consumer Spending, RBC Says

Mastercard's (MA) Q2 financial results demonstrated resilience in consumer spending, RBC Capital Markets analysts said in a Thursday note.The results showed modest improvements in global travel, the importance of outsized growth in value-added services contributing to the long-term growth algorithm, and continued investments in new technologies, the analysts said.Unique Venezuela dynamics and increased access to US dollars drove improvements in cross-border volumes outside of travel spend, which may be a one-time event, RBC said.The analysts raised their 2026 adjusted earnings estimate to $20.07 from $19.67, compared to a FactSet consensus forecast of $19.86. They also raised the revenue estimate to $37.4 billion from $37.1 billion, compared to a FactSet estimate of $37.23 billion.RBC retained an outperform rating on the stock and increased its price target to $642 from $629.Price: $571.65, Change: $-5.70, Percent Change: -0.99%

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Wire

UBS Adjusts Price Target on Mastercard to $670 From $640, Maintain Buy Rating

Mastercard (MA) has an average rating of buy and mean price target of $661.08, according to analysts polled by FactSet.Price: $568.33, Change: $-9.02, Percent Change: -1.56%

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Wire

BofA Securities Raises Mastercard Price Target to $735 From $700, Maintains Buy Rating

Mastercard (MA) has an average rating of buy and mean price target of $661.08, according to analysts polled by FactSet.Price: $574.17, Change: $-3.47, Percent Change: -0.60%

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Sectors

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks were higher in late Thursday afternoon trading, with the NYSE Financial Index rising 1.1% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.5%.The Philadelphia Housing Index was falling 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 1.5%.Bitcoin (BTC-USD) was increasing 1.3% to $64,746, and the yield for 10-year US Treasuries rose 4.1 basis points to 4.663%.In economic news, the US personal consumption expenditure price index fell 0.1% month over month in June, marking the first decline since April 2020, the Bureau of Economic Analysis reported Thursday. That helped cut the year-over-year rate to 3.7% from 4.1%.US real gross domestic product increased at a 1.5% annualized rate in the quarter ended June, according to an advance government estimate released Thursday. The consensus was for 2% growth in a survey compiled by Bloomberg.In corporate news, Intercontinental Exchange (ICE) agreed to buy electronic trading platform MarketAxess (MKTX) for about $6 billion, creating a powerhouse that aims to serve "every segment of the fixed income market." Intercontinental shares rose 1.2%, and MarketAxess surged 29%.Goldman Sachs (GS) Asset Management has launched AlphaAI, an AI investing platform to drive returns in public and private market businesses, Reuters reported. Goldman shares climbed 4.9%.A Morgan Stanley-led (MS) group of banks is in talks to lend $15 billion to a data-center developer to build a campus and power plant for Anthropic in Texas, The Wall Street Journal reported. Morgan Stanley shares rose 3.8%.Mastercard (MA) reported better-than-expected Q2 results on Thursday, buoyed by double-digit growth in cross-border volume and healthy spending. Its shares rose 2.6%.Blue Owl Capital's (OWL) data center firm Stack Infrastructure is seeking a syndicated loan of 8.5 billion Australian dollars ($5.9 billion) to back its third data center project in Melbourne, Bloomberg reported. Blue Owl shares rose 6.2%.

$GS$ICE$MA$MKTX$MS$OWL
Sectors

Sector Update: Financial Stocks Advance Thursday Afternoon

Financial stocks were higher in Thursday afternoon trading, with the NYSE Financial Index rising 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.4%.The Philadelphia Housing Index was falling 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 1.5%.Bitcoin (BTC-USD) was increasing 1.4% to $64,775, and the yield for 10-year US Treasuries was rising 3.5 basis points to 4.657%.In economic news, the personal consumption expenditures, or PCE, price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%. The price index rose by 0.5% month-over-month in May. The core PCE price index climbed 0.1% in June, below the 0.2% gain expected and following a 0.3% growth in May. The year-over-year rate dropped to 3.3% from 3.4%, according to the Bureau of Economic Analysis.US economic growth slowed more than expected in Q2, though consumer spending seemed to shrug off intensifying price measures. Real gross domestic product increased at a 1.5% annualized rate in the quarter ended June, according to an advance estimate released Thursday by the Bureau of Economic Analysis. A survey compiled by Bloomberg indicated a slowdown to 2% from the first quarter's 2.1% rate.In corporate news, Intercontinental Exchange (ICE) agreed to buy electronic trading platform MarketAxess (MKTX) for about $6 billion, creating a powerhouse that aims to serve "every segment of the fixed income market." Intercontinental shares were down 0.1%, and MarketAxess surged 29%.Mastercard (MA) reported better-than-expected Q2 results on Thursday, buoyed by double-digit growth in cross-border volume and healthy spending. Its shares rose 2.8%.Blackstone (BX) agreed to buy a home loan portfolio in Australia from HSBC (HSBC) worth 36 billion Australian dollars ($25 billion), Bloomberg reported. Blackstone shares were down 0.5%, and HSBC gained 4.5%.

$BX$HSBC$ICE$MA$MKTX
Mastercard Second-Quarter Results Top Street Estimates
US Markets

Mastercard Second-Quarter Results Top Street Estimates

Mastercard (MA) reported better-than-expected second-quarter results on Thursday, buoyed by double-digit growth in cross-border volume and healthy spending.The payments giant posted adjusted earnings of $5.04 a share for the June quarter, up from $4.15 a year earlier and topping the FactSet-polled consensus of $4.77. Revenue increased 14% to $9.28 billion, exceeding the Street's view for $9.08 billion.The stock gained 1.2% in Thursday trade, leaving it marginally lower year-to-date.Cross-border volume advanced 12% on a local currency basis year over year, reflecting continued growth in both travel and non-travel related cross-border spending, Chief Financial Officer Sachin Mehra said during an earnings call, according to a FactSet transcript.Cross-border travel was down sequentially, but the company saw "improved growth" in the second quarter due to "lower impacts from the developments in the Middle East and timing of holidays," according to Mehra. "Now, as we look at the first four weeks of July, our metrics remain relatively stable and strong," the CFO added.Gross dollar volume, which reflects the value of all transactions processed on Mastercard's platform, grew 8% in local currency terms to $2.881 trillion. Latin America recorded a double-digit annual gain in GDV, while the US posted a 5.5% increase.For 2026, Mastercard now expects non-GAAP revenue to increase by the low teens, it said in an earnings presentation. It previously expected the metric to come in at the high end of low-double-digits-to-low-teens. In 2025, the company reported adjusted revenue of $32.8 billion, representing annual growth of 16%."Overall, the underlying fundamentals of consumer and business, business spending and travel remain healthy," Mehra said on the call. "As we look at the second half of the year, our base case continues to assume spending remains healthy."The company projects that the impact from the Middle East conflict for the rest of the year will remain at "similar levels" to the end of the second quarter, according to Mehra.The US and Iran resumed hostilities against this month, just weeks after signing a memorandum of understanding to end the war that began at the end of February.Price: $569.46, Change: $+6.14, Percent Change: +1.09%

$MA
Stock Futures Rise as Investors Await Key Inflation Report Following Fed Hold
US Markets

Stock Futures Rise as Investors Await Key Inflation Report Following Fed Hold

US stock futures pointed to a higher open on Thursday as investors awaited a key inflation report following the Federal Reserve's latest interest rate decision.The Nasdaq 100 was tracking 1% higher before the opening bell. S&P 500 futures rose 0.5%, while the Dow Jones Industrial Average indicated a 0.3% gain.The indexes closed the previous session in the red after the Fed left interest rates unchanged in a divided decision, with three regional presidents calling for policy tightening.The personal income and outlays report for June is scheduled to be released at 8:30 am ET. The report includes the personal consumption expenditures price index, the Fed's preferred inflation metric, as well as data on consumer spending.While the market expects about two interest rate hikes over the coming 12 months, Jefferies said the next policy move will likely be a rate cut."We expect that labor market conditions will continue to gradually soften throughout the remainder of the year, and we are optimistic that inflation pressure is going to continue to soften as the energy surge from Iran reverses," Jefferies Chief US Economist Thomas Simons said in a note e-mailed to.The outlook is uncertain, so "we could certainly be wrong about the persistence of high inflation," Simons added.The Fed's next meeting is scheduled for Sept. 15-16.Treasury yields were up in premarket action, with the two-year rate increasing 2.6 basis points to 4.26% and the 10-year rate adding 7 basis points to 4.62%.Thursday's economic calendar also has the advance estimate for second-quarter gross domestic product, along with the weekly jobless claims bulletin.West Texas Intermediate crude oil fell 0.9% to $83.74 a barrel, while Brent declined 0.5% to $90.25.The US carried out fresh strikes against Iran on Wednesday in response to Tehran's attempted missile attacks on US forces in the Middle East a day earlier, the US Central Command said.Earlier in the week, Saudi Arabia and the US struck Iran-backed militias in Iraq.Meta Platforms (META) shares fell 9% before the bell as the company's second-quarter earnings unexpectedly fell year over year late Wednesday. The social media giant's third-quarter revenue guidance also missed Wall Street's expectations at the midpoint.Microsoft (MSFT) surged 9% after its quarterly results topped estimates driven by a revenue surge in cloud computing platform Azure.Apple (AAPL) and Amazon (AMZN) are scheduled to release their latest financial results after the bell Thursday. Mastercard (MA), Shell (SHEL), Bristol-Myers Squibb (BMY) and Altria (MO) were among the companies scheduled to release results before markets open.Gold rose about 1% to $4,139 per troy ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$BMY$MA$META$MO$MSFT$SHEL
Visa Third-Quarter Results Outpace Expectations as Payments Volume Increases
US Markets

Visa Third-Quarter Results Outpace Expectations as Payments Volume Increases

Visa (V) reported fiscal third-quarter results above Wall Street's estimates as consumer and business spending helped drive annual gains in payments volume.Adjusted earnings per share rose to $3.32 during the June quarter from $2.98 a year earlier. The consensus on FactSet was for non-GAAP EPS of $3.23. Revenue rose 14% to $11.63 billion, topping expectations for $11.4 billion."Consumer and business spending remains resilient, and our strategy continues to deliver strong performance across consumer payments, commercial and money movement solutions and value-added services," Chief Executive Ryan McInerney said in a statement.Payments volume rose 10% on a constant-dollar basis, with double-digit gains in both cross-border and processed transactions.Service revenue increased 14% to $4.92 billion, while data processing sales jumped 17% to $6.04 billion. International transaction revenue rose 6% to $3.85 billion.Visa will eliminate about 2,600 jobs, or 7% of its workforce, primarily targeting technology and product teams, the company confirmed toearlier in the day. The cuts are part of McInerney's initiative to streamline company operations.Visa now expects fiscal 2026 adjusted earnings per share to increase at the low end of a mid-teens percentage on a constant-dollar basis, compared with the prior guidance that called for a low-teens increase. Visa projects adjusted revenue to rise at the low end of low teens, versus low-double-digit to low-teens growth previously anticipated.Analysts expect non-GAAP EPS of $13.16 and sales of $45.58 billion for the fiscal year.For the ongoing three-month period, Visa expects adjusted EPS to grow at the low end of mid-teens and net revenue to rise at the high end of low-double-digits. The Street is looking for non-GAAP EPS of $3.45 and sales of $12.06 billion.Shares of the company were down 2.1% in after-market trading, and gained 4.5% this year through Tuesday close.UBS Securities sees Visa and Mastercard (MA) as "the preferred means" of gaining exposure to the payments and financial technology sector, citing their ability to sustain volume growth during economic downturns."Cross-border mix for the card networks has and will continue to evolve, shifting slightly more toward ecommerce, remittances, marketplace payouts, and other cross-border (business-to-business), all of which are faster growth and less cyclical (relative to the largest part of the business, which is cross-border travel)," UBS analysts wrote in a note earlier this month.Mastercard is scheduled to report its quarterly results Thursday.

$MA$V
Update: Wall Street Wavers as Oil Slides; Fed Decision, Major Earnings in Focus
US Markets

Update: Wall Street Wavers as Oil Slides; Fed Decision, Major Earnings in Focus

(Updates with market moves at the end of the day.)US stocks ended mixed in what turned out to be a choppy session on Monday as oil prices tumbled, with investors awaiting the Federal Reserve's monetary policy decision and major earnings releases.The Dow Jones Industrial Average rose 0.5% to 52,210.08, while the Nasdaq Composite edged down 0.2% to 24,932.08. The S&P 500 settled just above the flatline at 7,413.18. Most sectors were in the green, led by consumer staples, while energy saw the steepest decline.West Texas Intermediate crude oil was down 8% at $82.19 a barrel in Monday late-afternoon trade, while Brent slumped 9.2% to $87.90.US President Donald Trump told Axios on Monday that the US is in "very deep talks" with Iran, though he said military action could resume if diplomacy fails. His remarks came as the US apparently halted strikes against Iran.Oman is conducting talks with Iran, but Qatar, Pakistan and Egypt are also actively involved in the process, Axios reported."While this is the first tangible signal of de-escalation, the reasons behind it are less clear," ING Bank said in a report. "There's little explanation from the US. Also, it hasn't yet led to any meaningful pickup in vessel flows through the Strait of Hormuz."Treasury yields were lower, with the 10-year rate down 3.2 basis points at 4.65% and the two-year rate falling 1.1 basis points to 4.35%.The Federal Open Market Committee kicks off its two-day policy meeting on Tuesday, with a decision on interest rates due the following day. The probability of the central bank leaving its benchmark lending rate unchanged currently stands at 62%, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.UBS Securities expects three dissents as a base case, but said it won't be surprised to see two more pushing for a rate hike.Tech giants Microsoft (MSFT), Apple (AAPL), Amazon (AMZN) and Meta Platforms (META) are scheduled to release their latest financial results later this week, along with Visa (V), Mastercard (MA), ExxonMobil (XOM), Coca Cola (KO), Procter & Gamble (PG), Qualcomm (QCOM) and Boeing (BA).In company news, Nvidia (NVDA) has agreed to expand its partnership with South Korean conglomerate SK Group through an artificial intelligence infrastructure initiative expected to be worth more than $500 billion. The deal includes a long-term partnership between Nvidia and SK Hynix (SKHY) that will provide the US technology giant a stable supply of next-generation AI memory.Nvidia's shares dropped 5%, the worst performer on the Dow, while SK Hynix slumped 7.5%.TransDigm Group (TDG) agreed to acquire specialty metal maker Prince & Izant from private equity firm Industrial Growth Partners for about $1.07 billion in cash. TransDigm shares advanced 4%.Gold edged up 0.3% to $4,083.90 per troy ounce, while silver lost 0.2% to $58.80 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$BA$KO$MA$META$MSFT$NVDA$PG$QCOM$SKHY$TDG$V$XOM
Update: Equities Mixed Intraday as Markets Await Fed Decision, More Earnings Reports
US Markets

Update: Equities Mixed Intraday as Markets Await Fed Decision, More Earnings Reports

(Updates with latest market prices and developments.)US stocks were mixed intraday amid a sharp pullback in oil prices, as traders prepared for the Federal Reserve's policy decision and mega-cap earnings reports later in the week.The Nasdaq Composite was down 0.6% at 24,834.6 after midday Monday, while the S&P 500 fell 0.3% to 7,390.2. The Dow Jones Industrial Average rose 0.2% to 52,031.4. Among sectors, communication services paced the gainers, while technology saw the steepest decline.West Texas Intermediate crude oil dropped 7.5% to $82.61 a barrel, while Brent slumped 8% to $89.09.US President Donald Trump told Axios on Monday that the US is in "very deep talks" with Iran, though he said military action could resume if diplomacy fails. His remarks came as the US apparently halted strikes against Iran.The US military struck Iran for the 13th straight night on Thursday, with Iran launching its retaliatory attacks across Gulf states. There hasn't been an announcement on fresh US strikes since then.Oman is conducting talks with Iran, but Qatar, Pakistan and Egypt are also actively involved in the process, Axios reported."While this is the first tangible signal of de-escalation, the reasons behind it are less clear," ING Bank said in a report. "There's little explanation from the US. Also, it hasn't yet led to any meaningful pickup in vessel flows through the Strait of Hormuz."Treasury yields were lower intraday, with the 10-year rate down 3.2 basis points at 4.65% and the two-year rate falling 1.3 basis points to 4.32%.The Federal Open Market Committee kicks off its two-day policy meeting on Tuesday, with a decision on interest rates due the following day. The probability of the central bank leaving its benchmark lending rate unchanged currently stands at 62%, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool."In our view, in the event of a rate hold there are likely to be dissents with the number hinging on the extent to which the statement language shifts in a hawkish direction," Macquarie said Monday in a report.While the firm expects no change to the federal funds rate this week, it continues to project a hike, most likely in December.Tech giants Microsoft (MSFT), Apple (AAPL), Amazon (AMZN) and Meta Platforms (META) are scheduled to release their latest financial results later this week, along with Visa (V), Mastercard (MA), ExxonMobil (XOM), Coca Cola (KO), Procter & Gamble (PG), Qualcomm (QCOM) and Boeing (BA).In company news, Nvidia (NVDA) has agreed to expand its partnership with South Korean conglomerate SK Group through an artificial intelligence infrastructure initiative expected to be worth more than $500 billion. The deal includes a long-term partnership between Nvidia and SK Hynix (SKHY) that will provide the US technology giant a stable supply of next-generation AI memory.Nvidia's shares dropped 5.2% intraday, the worst performer on the Dow, while SK Hynix slumped 9.6%.TransDigm Group (TDG) agreed to acquire specialty metal maker Prince & Izant from private equity firm Industrial Growth Partners for approximately $1.07 billion in cash. TransDigm shares rose 3.4% intraday.Gold edged up 0.2% $4,077.40 per troy ounce, while silver lost 0.2% to $58.77 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$BA$KO$MA$META$MSFT$NVDA$PG$QCOM$SKHY$TDG$V$XOM
S&P 500 Second-Quarter Earnings Growth Reaches 70%, Oppenheimer Says
Wire

S&P 500 Second-Quarter Earnings Growth Reaches 70%, Oppenheimer Says

S&P 500 companies' second-quarter earnings growth reached 70%, driven by the information technology sector, where profits nearly tripled year on year, Oppenheimer Asset Management said in a report Monday.A total of 133 companies, or 27% of the index constituents, have reported second-quarter results, with profit growth accelerating to 70% year over year from about 52% up until a week ago. Revenue growth slowed to 12.6% from 16%, according to the report.Tech earnings soared 190% annually, followed by communications services companies, which reported 168% profit growth. Technology also had the highest annual revenue increase of 45% among 11 sectors, with financials showing a 17% jump.Prior to the start of the second-quarter reporting season, FactSet-polled consensus estimates projected S&P 500 earnings growth of nearly 24% year over year, Oppenheimer said.Another 169 S&P 500 companies are scheduled to report results this week, including four of the so-called Magnificent 7 companies Microsoft (MSFT), Meta Platforms (META), Apple (AAPL) and Amazon (AMZN).ExxonMobil (XOM), Visa (V), Mastercard (MA), AbbVie (ABBV), Chevron (CVX), Coca-Cola (KO) and Procter & Gamble (PG) also report this week."Looking at current valuations and the current earnings season, more factors appear to be getting better than getting worse," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said.Oil prices slid Monday as President Donald Trump said the US and Iran were in talks. However, crude has rallied this month due to the apparent collapse of a preliminary US-Iran peace deal.Escalated tensions between the two nations sent the 10-year Treasury yield to 4.68% last week, the highest level since January 2025, Stoltzfus said.Price: $391.06, Change: $+9.36, Percent Change: +2.45%

$AAPL$ABBV$AMZN$CVX$KO$MA$META$MSFT$PG$V$XOM
Japan

Update: US Equity Futures Rise Pre-Bell as Oil Prices Drop Amid Pause in Middle East Hostilities

US equity futures rose pre-bell Monday as oil prices declined amid a pause in hostilities between the US and Iran over the weekend.Dow Jones Industrial Average futures were 1.1% higher, S&P 500 futures were up 0.8%, and Nasdaq futures were 1.3% higher.The US did not strike any Iranian targets on Saturday or Sunday after 13 consecutive nights of attacks. The US ambassador to the United Nations, Mike Waltz, told Fox News that President Donald Trump has halted the attacks for the meantime to allow more time for diplomacy. Iran said it will suspend its own attacks as long as the US does the same, Reuters reported Sunday, citing a senior Iranian official.Traders anticipate another round of earnings this week, kicked off by AstraZeneca (AZN), which posted higher Q2 core earnings and revenue.Microsoft (MSFT), Meta Platforms (META), Apple (AAPL), Amazon.com (AMZN), Lam Research (LRCX), and Arm (ARM) are set to release their financial results this week. Anticipated earnings also include Seagate Technology (STX), Qualcomm (QCOM), Procter & Gamble (PG), Visa (V), and Mastercard (MA).Traders also look forward to the Federal Reserve's policy session and rate statement, slated for Wednesday.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 5.2% at $86.94 per barrel and US West Texas Intermediate crude 6% lower at $83.97 per barrel.Durable goods new orders rose 0.3% in June after a 4.0% decline in the prior month, compared with expectations for a 1.8% increase in a survey compiled by Bloomberg. The Dallas Fed manufacturing survey for July will be released at 10:30 am ET.In other world markets, Japan's Nikkei closed 0.5% higher, Hong Kong's Hang Seng ended 1% higher, and China's Shanghai Composite finished 1.2% higher. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 1.6% higher in Europe's early afternoon session.In equities, energy-related stocks were on the downswing due to the drop in oil prices. Exxon Mobil (XOM) shares fell 3.4%, Chevron (CVX) stocks were down 2.7%, and Shell (SHEL) shares were 2.3% lower.On the winning side, Broadcom (AVGO) stock was up 2.1% after the company and Samsung Electronics said they signed a memorandum of understanding to expand their strategic collaboration across memory and foundry technologies to support next-generation artificial intelligence infrastructure. Advanced Micro Devices (AMD) shares rose 2.2% after a Korea Times report cited the Ministry of Science and ICT as saying that the company partnered with South Korea to establish an artificial intelligence research facility and expand computing infrastructure. Toyota Motor (TM) stock was up 1.6% after the company said it signed a binding agreement with Volvo Group and Daimler Truck to acquire a one-third stake in fuel-cell joint venture Cellcentric.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMD$AMZN$ARM$AVGO$AZN$CVX$LRCX$MA$META$MSFT$PG$QCOM$SHEL$STX$TM$V$XOM
Stocks Rise Pre-Bell as US, Iran Pause Strikes; Fed Policy Decision, Inflation Report on Deck
US Markets

Stocks Rise Pre-Bell as US, Iran Pause Strikes; Fed Policy Decision, Inflation Report on Deck

The benchmark US stock measures were pointing higher before the opening bell Monday after the US and Iran halted strikes over the weekend, while traders gear up for a busy week that includes a major policy decision by the Federal Reserve, a key inflation report and earnings.The S&P 500 and the Dow Jones Industrial Average rose 0.8% each in premarket activity, while the Nasdaq increased 1.4%. The S&P 500 and the Dow finished Friday's trading session in the green, while the Nasdaq closed lower.After 13 consecutive nights of strikes against Iran, no US attacks against Tehran were officially announced over the weekend. Iran said it will also halt its attacks as long as the US does the same, a senior Iranian official told Reuters on Sunday.West Texas Intermediate crude oil dropped 6.4% to $83.56 a barrel before the open, while Brent fell 8% to $89.06.The US ambassador to the United Nations Mike Waltz reportedly told Fox News on Sunday that President Donald Trump has paused strikes against Iran to give talks "some space."Iranian Foreign Ministry spokesman Esmail Baghaei said technical talks with Oman on the Strait of Hormuz continued over the weekend, CNBC reported.Meanwhile, Iran summoned Ukraine's charge d'affaires in Tehran on Sunday over an attack on an Iranian commercial vessel in the Caspian Sea, calling it a "hostile and criminal act," according to a separate CNBC report.The Fed's monetary policy committee is scheduled to meet on Tuesday, with a decision on interest rates due the following day. The probability the central bank will leave its benchmark lending rate unchanged currently stands at 69%, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.Traders also await the personal income and outlays report for June later in the week. The report includes the personal consumption expenditure core price index, the Fed's preferred inflation metric.Treasury yields were down in premarket action, with the two-year rate retreating 2.6 basis points to 4.31% and the 10-year rate off 3.8 basis points to 5.12%.Monday's economic calendar has the durable goods orders report for last month at 8:30 am ET, followed by the Dallas Fed manufacturing survey for July at 10:30 am.Tech giants Microsoft (MSFT), Apple (AAPL), Amazon (AMZN) and Meta Platforms (META) are scheduled to release their latest financial results later this week, along with Visa (V), Mastercard (MA), ExxonMobil (XOM), Coca Cola (KO), Procter & Gamble (PG), Qualcomm (QCOM) and Boeing (BA).Shares of Forte Biosciences (FBRX) jumped 39% pre-bell after it agreed to be acquired by Belgian-Dutch immunology firm argenx (ARGX) in a deal worth roughly $2.2 billion. AstraZeneca's (AZN) US-listed stock gained 1.4% after the company reported its latest quarterly results.Gold inclined 0.7% to $4,098 per troy ounce, while bitcoin advanced 1.1% to $65,350.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$ARGX$AZN$BA$FBRX$KO$MA$META$MSFT$PG$QCOM$V$XOM

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