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Wire

Moderna Set for 3 Near-Term INT Data Readouts, UBS Says

Moderna (MRNA) is set for three data readouts on its individualized neoantigen therapies, or INT, in the near term, serving as potential stock catalysts for the company, UBS Securities said in a Tuesday note.The next major catalyst is the release of phase 3 data on melanoma at an international conference this fall, investors awaiting efficacy on recurrence-free survival and distant metastasis-free survival, the brokerage said.Likely to follow is the phase 2 data on either renal cell carcinoma or muscle-invasive bladder cancer, potentially in 2027, according to UBS. The next readout is probably a phase 3 update on adjuvant non-small cell lung cancer, the investment firm added.UBS has a neutral rating and $150 price target on Moderna.Price: $137.50, Change: $-2.83, Percent Change: -2.02%

$MRNA
Research

Rothschild & Co Redburn Downgrades Moderna to Sell From Neutral, Adjusts PT to $81 From $40

Moderna (MRNA) has an average rating of hold and mean price target of $108, according to analysts polled by FactSet.

$MRNA
BioNTech Terminates Phase 2 Colorectal Cancer Clinical Trial; Shares Fall
US Markets

BioNTech Terminates Phase 2 Colorectal Cancer Clinical Trial; Shares Fall

BioNTech (BNTX) shares slumped Friday after the company said it is terminating a mid-stage clinical trial of an experimental treatment of colorectal cancer, following a new recommendation from the study's independent data safety monitoring board.The German drugmaker was studying autogene cevumeran, an investigational mRNA-based cancer immunotherapy product, as an adjuvant therapy for patients suffering from resected stage II or stage III colorectal cancer in a phase 2 trial. BioNTech was jointly developing the candidate with Genentech, a member of the Roche Group.The decision to terminate the trial came after its safety board recommended discontinuing patient treatment and ending the study, according to BioNTech. The independent board, which also oversees the trial's integrity, identified a "numerical imbalance" in overall survival between treatment arms in patients and indicated further continuation was not expected to change the efficacy outcome, the company said Friday."While this outcome is not what we had envisioned for mRNA as a monotherapy in colorectal cancer, it provides scientific insight into the challenges of treating immunotherapy-insensitive tumor types with immune-suppressive microenvironments and will help inform the further development of investigational mRNA cancer immunotherapies," BioNTech Co-Founder and Chief Medical Officer Ozlem Tureci said in a statement.BioNTech's Nasdaq-listed shares fell 7.8% in afternoon trade. The stock has gained 8% in value so far this year.In October, the trial crossed its futility boundary, but the safety board had identified that the trial's data wasn't adequately "mature" to make reliable conclusions regarding its efficacy and there was insufficient follow-up time to evaluate its primary endpoint. BioNTech decided to continue the study at the time with no objection from the board.The company said Friday intends to continue a separate phase 2 study evaluating autogene cevumeran in combination with checkpoint inhibition and chemotherapy for adjuvant pancreatic ductal adenocarcinoma, the most common and aggressive type of pancreatic cancer.Earlier this month, Moderna (MRNA) and Merck (MRK) said a late-stage trial of an experimental skin cancer treatment yielded positive topline results.On Thursday, BioNTech and Pfizer (PFE) said the US Food and Drug Administration approved the supplemental biologics license application for their 2026-2027 COVID-19 vaccine targeting the XFG variant.Price: $103.14, Change: $-8.26, Percent Change: -7.41%

$BNTX$MRK$MRNA$PFE
Research

Argus Research Upgrades Moderna to Buy From Hold, $180 Price Target

Moderna (MRNA) has an average rating of hold and mean price target of $96.47, according to analysts polled by FactSet.

$MRNA
Sectors

Sector Update: Healthcare Stocks Decline Late Afternoon

Healthcare stocks fell late Thursday afternoon, with the NYSE Healthcare Index down 1.2% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 1%.The iShares Biotechnology ETF (IBB) was down 0.1%.In corporate news, Moderna (MRNA) shares dropped 5% after the firm said it plans to offer $2 billion worth of convertible senior notes due 2032 in a private placement.HealthEquity (HQY) shares fell past 10% after the company posted fiscal Q2 results.Novo Nordisk (NVO) said China's National Medical Products Administration has accepted its marketing application for the oral version of its weight-loss drug Wegovy, Reuters reported. Shares were down 2%.NeoGenomics (NEO) shares jumped past 7% after the company said its RaDaR ST molecular residual disease assay received expanded Medicare coverage to include immunotherapy response monitoring for patients with late-stage solid tumors.

$HQY$MRNA$NEO$NVO
Sectors

Sector Update: Healthcare Stocks Softer in Afternoon Trading

Healthcare stocks declined Thursday afternoon, with the NYSE Healthcare Index decreasing 0.8% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.7%.The iShares Biotechnology ETF (IBB) was fractionally lower.In corporate news, Moderna (MRNA) shares fell 4.5% after it said Thursday it plans to offer $2 billion worth of convertible senior notes due 2032 in a private placement.HealthEquity (HQY) shares fell past 11% after the company posted fiscal Q2 results.Novo Nordisk (NVO) said Thursday that China's National Medical Products Administration has accepted its marketing application for the oral version of its weight-loss drug Wegovy, Reuters reported. Reuters said the regulator's acceptance of the application is not approval to sell Novo Nordisk's once-daily semaglutide tablets to patients in China, but rather that officials have determined that the application is complete and may enter formal review. Novo shares were down 2.1%.

$HQY$MRNA$NVO
Sectors

Sector Update: Healthcare

Healthcare stocks declined Thursday afternoon, with the NYSE Healthcare Index decreasing 0.8% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.7%.The iShares Biotechnology ETF (IBB) was fractionally lower.In corporate news, Moderna (MRNA) shares fell 5.6% after it said Thursday it plans to offer $2 billion worth of convertible senior notes due 2032 in a private placement.

$MRNA
Wire

Top Midday Stories: Strong Nvidia, Salesforce, CrowdStrike Earnings Help Drive Stock Indexes Higher

All three major US stock indexes were up in late-morning trading Thursday, after Nvidia (NVDA) released their highly anticipated earnings results on Wednesday after markets closed.In company news, Nvidia reported fiscal Q2 adjusted earnings late Wednesday of $2.22 per diluted share, up from $1.01 a year earlier and above the FactSet consensus analyst estimate of $2.09. Fiscal Q2 revenue was $96.22 billion, up from $46.74 billion a year ago and above the FactSet consensus of $92.27 billion. For fiscal Q3, the company expects revenue of $108 billion, plus or minus 2%. Analysts polled by FactSet expect $104.86 billion. Separately, Nvidia has agreed to buy Hugging Fact, the open-source AI platform, for $12.9 billion, The Information reported late Wednesday. Lastly, Nvidia and Amazon's (AMZN) AWS plan to deploy 2 million additional Nvidia GPUs across AWSs global infrastructure in 2027-2028, the companies said. Nvidia shares were up 7.6% around midday.Salesforce (CRM) reported fiscal Q2 adjusted EPS late Wednesday of $5.90, up from $2.91 a year earlier and above the FactSet consensus of $3.27. Fiscal Q2 revenue was $11.35 billion, up from $10.24 billion a year ago and above the FactSet consensus of $11.33 billion. For fiscal Q3, the company expects adjusted EPS of $3.42 to $3.44 on revenue of $11.42 billion to $11.50 billion. Analysts polled by FactSet expect $3.37 and $11.42 billion, respectively. For fiscal 2027, Salesforce expects adjusted EPS of $16.67 to $16.71 on revenue of $46.1 billion to $46.4 billion, up from their prior forecast of adjusted EPS of $14.06 to $14.12 on revenue of $45.9 billion to $46.2 billion. Analysts expect $14.16 and $46.11 billion, respectively. Separately, Salesforce and Anthropic said they were expanding their partnership to pair Claude's intelligence and reasoning with Salesforce's enterprise platform under the name Claudeforce. Salesforce shares were up about 19%.CrowdStrike (CRWD) reported fiscal Q2 adjusted EPS late Wednesday of $0.31, up from $0.23 a year earlier and above the FactSet consensus of $0.29. Fiscal Q2 revenue was $1.47 billion, up from $1.17 billion a year ago and above the FactSet consensus of $1.44 billion. For fiscal Q3, the company said it expects adjusted EPS of $0.31 on revenue of $1.523 billion to $1.529 billion. Analysts expect $0.31 and $1.51 billion, respectively. For fiscal 2027, CrowdStrike expects adjusted EPS of $1.25 to $1.26 on revenue of $5.99 billion to $6.01 billion. Analysts expect EPS of $1.23 on revenue of $5.94 billion. CrowdStrike shares were up 17.7%.Moderna (MRNA) plans to offer $2 billion worth of convertible senior notes due 2032 in a private placement, the company said Thursday. The company plans to grant initial purchasers a 13-day option to acquire up to $300 million worth of additional shares, Moderna said. Shares of Moderna were down 7.1%.Best Buy (BBY) reported fiscal Q2 adjusted EPS Thursday of $1.47, up from $1.28 a year earlier and above the FactSet consensus of $1.39. Fiscal Q2 revenue was $9.78 billion, up from $9.44 billion a year ago and above the FactSet consensus of $9.59 billion. For fiscal 2027, the company expects adjusted EPS of $6.70 to $6.90, up from its prior outlook of $6.30 to $6.60. The retailer also expects full-year revenue of $42.30 billion to $42.80 billion, up from its prior guidance of $41.20 billion to $42.10 billion. Analysts expect EPS of $6.62 on revenue of $42.08 billion. The company also said it expects fiscal 2027 comparable sales growth of 1.9% to 3%, up from its prior guidance of a decline of 1% to growth of 1%. Best Buy shares were down 4.4%.Price: $225.41, Change: $+15.75, Percent Change: +7.51%

$AMZN$BBY$CRM$CRWD$MRNA$NVDA
Asia Markets

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Thursday Ahead of Fed's Jackson Hole Symposium

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.6%, and the actively traded Invesco QQQ Trust (QQQ) was 1% higher in Thursday's premarket activity, ahead of the US Federal Reserve's Jackson Hole Economic Policy Symposium.US stock futures were mixed, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures slipping 0.01%, and Nasdaq futures gaining 1% before the start of regular trading.US initial jobless claims fell to a level of 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 level in the previous week, in contrast with expectations for an increase to 208,000 in a survey of analysts compiled by Bloomberg as of 7:40 am ET.The US advance international trade in goods deficit widened to $118.81 billion in July from $101.41 billion in June, according to data released by the US Census Bureau.Weekly natural gas stocks will be released at 10:30 am ET, followed by the Kansas City Federal Reserve manufacturing reading for August at 11 am ET.In premarket activity, bitcoin was up by 1.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.4% higher, Ether ETF (EETH) advanced 1.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) increased 0.4%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.5%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.6%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.4%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was inactive.Dollar General (DG) shares were up more than 10% pre-bell after the company reported higher fiscal Q2 earnings and revenue.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 2%, the iShares US Technology ETF (IYW) was 0.8% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) advanced 2.3%, while the iShares Semiconductor ETF (SOXX) rose by 2.8%.Nvidia (NVDA) stock was 7% higher after the company posted overnight higher fiscal Q2 adjusted earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.5%, the Vanguard Health Care Index Fund (VHT) was up 0.6%, while the iShares US Healthcare ETF (IYH) slipped 0.01%. The iShares Biotechnology ETF (IBB) was 0.3% lower.Moderna (MRNA) stock was down more than 4% premarket after the company said it plans to offer $2 billion worth of convertible senior notes due 2032 in a private placement.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.8% higher.Hyperliquid Strategies (PURR) shares were up 4% in early hours activity after the company reported fiscal 2026 net income Thursday of $305.5 million.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.4%, while the Vanguard Industrials Index Fund (VIS) gained 0.1% and the iShares US Industrials ETF (IYJ) was inactive.GE Vernova (GEV) stock was up more than 2% before the opening bell after the company said it will deliver a new 400-kV gas-insulated switchgear substation in Chesterfield, England, for National Grid projects.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.1%.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.2% to reach $82.37 per barrel on the New York Mercantile Exchange. Natural gas was up 1.9% at $2.90 per 1 million British Thermal Units. The United States Oil Fund (USO) increased 0.6%, while the United States Natural Gas Fund (UNG) was 0.4% higher.Gold futures for November were down by 0.1% at $4,647.60 an ounce on the Comex. Silver futures gained 0.3% to reach $69.02 an ounce. SPDR Gold Shares (GLD) decreased 0.2%, and the iShares Silver Trust (SLV) was 0.2% lower.

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

Sector Update: Healthcare Stocks Decline Pre-Bell Thursday

Healthcare stocks were declining pre-bell Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.6% lower and the iShares Biotechnology ETF (IBB) down 0.5%.Novo Nordisk (NVO) said China's National Medical Products Administration has accepted its marketing application for the oral version of its weight-loss drug Wegovy, Reuters reported. Novo Nordisk stock was down more than 2% premarket.Moderna (MRNA) shares were down nearly 5% amid the company's plans to offer $2 billion worth of convertible senior notes due 2032 in a private placement.HealthEquity (HQY) stock was down more than 5% even after the company reported higher fiscal Q2 adjusted earnings and revenue.

$HQY$IBB$MRNA$NVO$XLV
Asia Markets

Update: Nvidia Results, Semiconductor Rally Lift US Equity Futures Pre-Bell

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mostly higher pre-bell Thursday as Nvidia's (NVDA) earnings and an upswing in semiconductor-related stocks lifted market sentiment.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were up 0.4%, and Nasdaq futures were 1% higher.Nvidia was up 6.2% after the company reported fiscal Q2 earnings and revenue late Wednesday that more than doubled from a year ago.The Trump administration is considering sweeping new tariffs on semiconductors that could extend to products containing chips, including laptops, gaming consoles and data center servers, Politico reported, citing unnamed sources familiar with the matter.Marvell Technology (MRVL) is expected to report its fiscal Q2 earnings after the market closes. Analysts polled by FactSet expect adjusted earnings of $0.93 per share on revenue of $2.72 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.4% at $87.25 per barrel and US West Texas Intermediate crude 0.3% higher at $82.47 per barrel.The US advance international trade in goods deficit widened to $118.81 billion in July from $101.41 billion in June, compared with expectations to narrow to $100.5 billion in a survey compiled by Bloomberg. Initial jobless claims dropped to 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 level in the previous week, compared with expectations for an increase to 208,000.The Federal Reserve's annual three-day Economic Policy Symposium in Wyoming begins in the morning, with Fed Chief Kevin Warsh slated to deliver keynote remarks on Friday.In other world markets, Japan's Nikkei closed 0.2% lower, Hong Kong's Hang Seng ended 0.3% lower, and China's Shanghai Composite finished 1.1% higher. Meanwhile, the UK's FTSE 100 was down 0.4%, and Germany's DAX index was 0.4% higher in Europe's early afternoon session.In equities, stocks of Marvell Technology and Micron Technology (MU) were up 4% and 4.2%, respectively, as part of a wider rally in the semiconductor sector. CrowdStrike (CRWD) shares were up 9.5% after the company posted better-than-expected fiscal Q2 results and boosted its fiscal 2027 net new annual recurring revenue guidance. Salesforce (CRM) stock was 10% higher after the company reported late Wednesday higher fiscal Q2 financial results and raised its fiscal 2027 guidance.On the losing side, Moderna (MRNA) shares fell 3.5% after the company said it plans to offer $2 billion worth of convertible senior notes due 2032 in a private placement. HP (HPQ) stock was down 12% despite the company posting higher adjusted earnings and revenue for fiscal Q3 on late Wednesday.

Dow JonesNasdaq CompositeS&P 500$CRM$CRWD$HPQ$MRNA$MRVL$MU$NVDA
Japan

US Equity Markets Higher as Crude Oil Prices, Bond Yields Drop After US Treasury Threatens Economic Sanctions on Iran

US equity indexes ended higher Tuesday as crude oil prices and government bond yields dropped, after the US Treasury Department started a campaign to impose economic sanctions on Iran.* The Treasury is targeting aviation, shipping, technology, gold and digital assets such as cryptocurrency to choke off Iran's economy, CNN reported. The US is also threatening new sanctions on countries that refuse to cut economic ties with Tehran.* Iran pledged to fight back against expanded US sanctions aimed at isolating its economy, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.* The Conference Board's measure of consumer confidence fell to 89.4 in August from 90.2 in July, compared with expectations for no change in a survey compiled by Bloomberg.* New-home sales fell to a 607,000 annual rate in July from an upwardly revised 678,000 in June, below the 620,000 expected in a survey compiled by Bloomberg, and down 6.3% from a year ago.* October West Texas Intermediate crude oil fell $3.96 to settle at $81.05 per barrel, while October Brent crude, the global benchmark, was last seen down $4.92 at $87.25.* Moderna (MRNA) shares were up roughly 14%, the top gainer on the S&P 500, after Wolfe Research upgraded the company's stock to peer perform from underperform.* Shell (SHEL) has drawn interest from potential bidders, including ExxonMobil (XOM), LyondellBasell (LYB) and Apollo Global Management (APO), for its US chemicals assets, which could fetch up to $8 billion, the Financial Times reported Monday, citing people familiar with the matter. LyondellBasell shares were down 4%, the worst performer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$APO$LYB$MRNA$SHEL$XOM
Wire

Moderna Shares Rise After Wolfe Research Upgrade

Moderna (MRNA) shares were up 13% in Tuesday trading after Wolfe Research upgraded the company's stock to peer perform from underperform.Trading volume stood at 37.2 million shares, compared with a daily average of 13.2 million.Price: $157.12, Change: $+18.23, Percent Change: +13.12%

$MRNA
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Tuesday as Chip Stocks Recover

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5%, and the actively traded Invesco QQQ Trust (QQQ) was 1% higher in Tuesday's premarket activity as chip stocks recovered from Monday's losses.US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures gaining 1% before the start of regular trading.In premarket activity, bitcoin was up by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% higher, Ether ETF (EETH) advanced 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) increased 2.4%.The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index fell to negative 10.6 in August from 7.4 in the previous month, compared with a smaller decrease to 3.6 expected in a Bloomberg survey, indicating contraction in the sector.The Case-Shiller National Home Price index rose by 0.4% in June before seasonal adjustment following a 0.7% increase in May.The FHFA's measure of home prices held steady in June after an unrevised 0.3% increase in the previous month, below the 0.2% gain expected in a survey compiled by Bloomberg.Reports slated for a 10 am ET release include the consumer confidence report and Richmond Fed business conditions data for August, and new-home sales for July.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was 0.1% lower, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.1%, and the iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.2%. The VanEck Retail ETF (RTH) was down 0.4%, while the State Street SPDR S&P Retail ETF (XRT) was flat.Dick's Sporting Goods (DKS) shares were down more than 17% pre-bell after the company reported lower fiscal Q2 non-GAAP earnings and cut its fiscal 2026 guidance.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.7% lower.Bank of Nova Scotia (BNS) shares were up 2% in premarket activity after the company reported higher fiscal Q3 adjusted earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.1%, the Vanguard Health Care Index Fund (VHT) was up 1%, while the iShares US Healthcare ETF (IYH) advanced 0.5%. The iShares Biotechnology ETF (IBB) was 0.2% higher.Moderna (MRNA) stock was up more than 1% premarket after Wolfe upgraded it to peer perform from underperform.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.5%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.SpaceX (SPCX) stock was up more than 1% before the opening bell after Elon Musk said in an X post on Monday that the company plans to launch its first AI satellites run by Nvidia (NVDA) chips in Q4 2027, with the network expected to reach significant scale in 2028.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1.1%, the iShares US Technology ETF (IYW) was 1.3% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased 2.9% while the iShares Semiconductor ETF (SOXX) rose by 2.4%.Nvidia (NVDA) shares were up more than 1% in premarket activity after Raymond James lifted its price target for the company to $352 from $330.EnergyThe iShares US Energy ETF (IYE) retreated 0.02%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 1%.Equinor (EQNR) stock was down more than 1% before market open, following a 1.1% loss in the previous session. The company's Executive Vice President Philippe Mathieu said Equinor plans to boost production outside Norway to 950,000 barrels of oil equivalent per day by 2030, while generating $20 billion of free cash flow from 2026 to 2030.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 3.5% to $82.02 per barrel on the New York Mercantile Exchange. Natural gas was down 1.7% at $2.74 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased 2.9%, while the United States Natural Gas Fund (UNG) was 1.4% lower.Gold futures for November were down by 0.1% at $4,692.70 an ounce on the Comex. Silver futures retreated 0.9% to $68.77 an ounce. SPDR Gold Shares (GLD) decreased 0.4%, and the iShares Silver Trust (SLV) was 1.3% lower.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BNS$DKS$EEM$EETH$EQNR$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MRNA$NVDA$PMR$QQQ$RTH$SLV$SOXX$SPCX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Equities

Social Buzz: Wallstreetbets Stocks Mostly Advancing Premarket Tuesday; Nebius Group, Sandisk to Advance

The most-talked-about stocks in the Reddit subforum Wallstreetbets were mostly advancing hours before Tuesday's opening bell.Nebius Group (NBIS) was up 5.2% in premarket activity, following a 3.8% decline from Monday's session.Sandisk (SNDK) rose by 4.1% pre-bell, swinging from a 6.5% fall at Monday's close.Micron Technology (MU) advanced by 2.8% premarket, after a 5.8% decline from the previous session.Moderna (MRNA) was up 1.9% in pre-bell activity, after closing Monday with a 4.3% fall.Nvidia (NVDA) was 1.3% higher hours before market open, swinging from a 2.9% fall at Monday's close.Meta Platforms (META) rose by 1.1% pre-bell, following a 1.7% rise from the previous session.DTE Energy (DTE) was up 0.2% in premarket activity, after a 0.3% increase from Monday's session.Bucking the trend, Strategy (MSTR) was down 0.7% in pre-bell hours, following a 2.8% increase from the previous session.

$DTE$META$MRNA$MSTR$MU$NBIS$NVDA$SNDK
Research

Wolfe Upgrades Moderna to Peer Perform From Underperform

Moderna (MRNA) has an average rating of hold and mean price target of $96.47, according to analysts polled by FactSet.

$MRNA
Equities

S&P 500 Posts First Weekly Loss Since July Amid US Warning to Iran

The Standard & Poor's 500 index fell 1.4% this week, its first weekly loss in a month, as US President Donald Trump issued an "economic D-Day" warning to Iran.The S&P 500 ended Friday's session at 7,674.37. This is the first time the market benchmark has posted a weekly decline since the five days that ended on July 24. The index has gained 2.5% in August and 12% in 2026.Trump threatened the "most crushing economic operation" on Iran, while also warning of consequences for countries that support or conduct business with Iran. Iran's foreign minister responded by saying the campaign was bound to fail.Also this week, the US Treasury decided to boost repurchases of long-dated government debt to $4 billion per operation from September.Utilities had the largest percentage loss this week, falling 3.6%, followed by a 3.4% drop in industrials and a 3.2% decline in technology. Communication services, financials and consumer staples shed at least 1% each while real estate and consumer discretionary also edged lower.NRG Energy (NRG) and Vistra (VST) were the hardest-hit stocks in the utilities sector, falling 10% and 8%, respectively.Airline stocks United Airline (UAL) and Southwest Airlines (LUV) were among the top decliners in industrials, sliding 9.7% and 8.8%, respectively.In the technology sector, shares of CrowdStrike (CRWD) fell 12%.The company faces high expectations heading into Q2 results and the annual Fal.Con conference, BofA Securities said in a note to clients. Investors may need a meaningful net new annual recurring revenue beat to justify elevated expectations, the report said. Also, CrowdStrike's global chief technology officer, Elia Zaitsev, stepped down to launch an early-stage venture capital fund focused on cybersecurity.On the upside, health care climbed 4.3%, followed by a 2.5% increase in energy and a 2.3% gain in materials.Moderna was the best performer in health care as well as the overall S&P 500, more than doubling on the week as the company and Merck said a late-stage trial of an experimental skin cancer treatment they are jointly developing yielded positive topline results. Merck's shares rose 12%.Economic data next week will include the July Personal Consumption Expenditures (PCE) index and the second estimate of Q2 gross domestic product. Other data will include July consumer spending, new home sales, durable goods and wholesale inventories.

Dow JonesNasdaq CompositeS&P 500$CRWD$LUV$MRK$MRNA$NRG$UAL$VST
Asia Markets

US Equity Indexes Lower This Week as Trump Threatens Major Economic War on Iran

*US equity indexes were lower this week after President Donald Trump warned of severe economic sanctions against Iran and any country that offers a lifeline to the Middle East nation.* The S&P 500 hovered around 7,672.5 on Friday versus 7,785.76 a week ago. The Nasdaq Composite stood at about 26,159.7, compared with 26,729.16 a week earlier, and the Dow Jones Industrial Average was lower at 53,207.2, versus 53,732.41 at the end of last week.* Trump warned of extreme economic actions against Iran and any country that supports or conducts business with the Middle East nation after the deadline to reach a permanent peace deal expired. Iran's Foreign Minister Seyed Abbas Araghchi dismissed Trump's warning in an X post, describing it as a diversion from America's challenges of "unprecedented debt & surging interest costs."*Bond yields continued to rise despite the Treasury Department ramping up repurchases of long-dated government debt, and Secretary Scott Bessent stated that the repurchases could exceed $4 billion per operation, CNBC reported Thursday, citing an interview with the official.*Most Federal Open Market Committee participants agreed to maintain the federal funds rate at 3.50% to 3.75%. While FOMC participants acknowledged that inflation remained elevated, most expected it to decline over the remainder of the year as the effects of tariffs and earlier energy price hikes fade. They also observed that economic activity continued to expand at a robust pace while labor market conditions appeared stable.*President Donald Trump also paused tariffs on certain Canadian goods, according to a Truth Social post. He also said the Keystone XL Pipeline, which was canceled in 2021, may be revived. The tariff play comes ahead of negotiations for the US-Mexico-Canada Trade Agreement.*The August flash reading of manufacturing conditions from S&P Global declined to 53.2 from 53.9 in July, compared with expectations for no change in a survey compiled by Bloomberg. The index for services conditions rose to a 20-month high reading of 56.8 in August from 54.6 in July, compared with expectations for a decrease to 54.*US mortgage applications fell by 0.4% in the week ended Aug. 14, with an increase in refinancing activity offset by declining home purchase applications, according to the Mortgage Bankers Association.*According to the Labor Department, US initial jobless claims declined to 206,000 in the week ended Aug. 15 from the upwardly revised 212,000 level in the week earlier, and lower than 210,000 expected in a survey of analysts compiled by Bloomberg.*In company news, Moderna (MRNA) shares climbed by over 100% this week, and Merck (MRK) shares gained over 11% after the companies said a trial of intismeran autogene combined with Keytruda met the primary endpoint of recurrence-free survival and a key secondary endpoint of distant metastasis-free survival in patients with completely resected stage IIB-IV melanoma.

Dow JonesNasdaq CompositeS&P 500$MRK$MRNA
Update: Equities Drop to Lowest in More Than 2 Weeks as Yields Rise
US Markets

Update: Equities Drop to Lowest in More Than 2 Weeks as Yields Rise

(Updates with market moves at the end of the day, and other changes, if any.)US equity indexes dropped to their lowest levels in more than two weeks on Thursday as bond yields rose despite the Treasury Department's intervention in the bond market.The Dow Jones Industrial Average fell 1.3% to 52,759.21, its lowest close since July 31. The Nasdaq Composite shed 1% to 26,067.17, while the S&P 500 lost 0.9% to 7,641.16 -- both logging their lowest finish since Aug. 3.Except energy and real estate, all sectors ended in the red, led by consumer staples and healthcare.US Treasury yields were higher, with the 10-year yield up 4.9 basis points at 4.7% and the two-year yield rising 0.6 basis point to 4.19%. The 30-year rate advanced 5.5 basis points to 5.25%.The Treasury Department said Wednesday it will at least double the size of its buybacks for longer-dated Treasuries, to $4 billion per operation. The announcement eased pressure on long-term yields that day.Treasury Secretary Scott Bessent told CNBC on Thursday that the buybacks could be worth more than $4 billion per issue."The $4 billion size of the buybacks is vanishingly small relative to the size of the US treasury market but is a loud symbolic signal that the Treasury does not want higher yields," Saxo Bank said in a report Thursday. "Shaping the yield curve and buying treasuries is normally a policy area for the (Federal Reserve), so it sets up an interesting tension with Fed Chair Kevin Warsh, who will speak at next week's Fed symposium at Jackson Hole, Wyoming."US government debt surpassed $40 trillion for the first time, multiple outlets reported Wednesday, citing Treasury Department data.West Texas Intermediate crude oil climbed 2.3% to $87.83 a barrel in Thursday late-afternoon trade, while Brent rose 2.1% to $93.51.US President Donald Trump on Wednesday threatened "economic warfare" against Iran, announcing economic consequences for countries that seek to provide any form of support to Tehran.A 60-day ceasefire between the two countries expired Monday.In corporate news, Walmart (WMT) shares slumped 9.2%, the worst performer on the Dow and the second-biggest fall on the S&P 500, after the retail giant issued third-quarter earnings guidance below analysts' expectations.Nordson (NDSN) jumped 8%, the best performer on the S&P 500, after lifting its fiscal 2026 outlook.Deere's (DE) shares advanced 6.9%, the third-biggest gain on the S&P 500, after the company raised the lower ends of its net income and cash flow guidance ranges, citing a strong fourth-quarter order book.Shares of Moderna (MRNA) slid about 24%, the steepest drop on the S&P 500, following a 177% jump at the close of the previous trading session. The drugmaker and Merck (MRK) announced positive topline results from a late-stage trial of an experimental skin cancer treatment on Wednesday.Spot gold ticked up 0.2% to $4,523 per troy ounce, while silver rose 3.8% to $69.09 per ounce.

Dow JonesNasdaq CompositeS&P 500$DE$MRK$MRNA$NDSN$WMT
Asia Markets

US Equity Indexes Fall After Trump Warns of Severe Economic Actions Against Iran, Driving Up Oil Prices, Bond Yields

US equity indexes fell on Thursday as bond yields and oil prices surged after President Donald Trump warned of severe economic sanctions against Iran, and any country that offers a lifeline to the Middle-East nation.Iran's Foreign Minister Seyed Abbas Araghchi dismissed Trump's warning in an X post, calling it a diversion from America's challenges of "unprecedented debt & surging interest costs."Bond yields continued to rise despite Treasury Secretary Scott Bessent stating that the buyback of long-dated government debt, announced yesterday, could exceed $4 billion per operation, CNBC reported Thursday, citing an interview with the official.The Nasdaq Composite fell 1% to 26,067.1, and the S&P 500 declined 0.8% to 7,641.6. The Dow Jones Industrial Average shed 1.3% to 52,762.3. Energy and real estate sectors led the gainers, while consumer staples and health led the decliners.The yield on 30-year Treasuries rose 5.4 basis points to 5.248%, while the 10-year yield gained 4.9 basis points to 4.702%.Gold futures gained 0.9% to $4,587.4 per ounce, and silver futures rose 3.9% to $68.43.In economic news, the Conference Board's measure of leading indicators rose by 0.2% in July, a larger gain than the 0.1% increase expected in a survey compiled by Bloomberg, and following a 0.1% decrease in June.The Conference Board highlighted that economic growth is expected to be driven by investments in AI, while consumer spending could slump due to the higher cost of living.The Philadelphia Federal Reserve's monthly manufacturing index rose to 47.4 in August, compared with 41.4 in July and an anticipated decrease to 24.1 according to a survey compiled by Bloomberg.According to the Labor Department, US initial jobless claims declined to 206,000 in the week ended Aug. 15 from the upwardly revised 212,000 level in the week earlier, and lower than 210,000 expected in a survey of analysts compiled by Bloomberg.US natural gas stocks rose by 16 billion cubic feet in the week ended Aug. 14, higher than the 15 billion gain expected in a survey compiled by Bloomberg and following an increase of 36 billion cubic feet in the week prior.The US West Texas Intermediate crude oil contract rose 2.7% to $88.15 per barrel.In company news, SpaceX (SPCX) shares fell 4% on Thursday after around 319 million early-investor shares of the company became eligible to trade today. The company also approached Cognition AI for a potential acquisition, but there are currently no active deal talks between them, Bloomberg reported late Wednesday, citing people familiar with the matter.Walmart (WMT) shares fell 9.1% on Thursday after its fiscal 2027 adjusted EPS guidance missed analyst expectations. The company reported fiscal Q2 adjusted earnings of $0.81 per share, up from $0.68 a year earlier and above the FactSet estimate of $0.74. Revenue was $187.94 billion, up from $177.40 billion a year ago and above the FactSet estimate of $186.62 billion. For fiscal 2027, Walmart expects adjusted EPS of $2.80 to $2.87, up from $2.75 to $2.85 earlier, but below the FactSet estimate of $2.90.Moderna (MRNA) shares fell 23.5% following a 177% jump at the close of the previous trading session. The drugmaker and Merck (MRK) announced positive topline results from a late-stage trial of an experimental skin cancer treatment on Wednesday.

Dow JonesNasdaq CompositeS&P 500$MRK$MRNA$SPCX$WMT

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