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Marvell Technology

Marvell Technology

$MRVL
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149 stories mentioning Marvell TechnologyUpdated 1d ago

Named among Wallstreetbets-favorite stocks set to decline premarket Wednesday, alongside Micron Technology, as most of those names traded lower.

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Asia Markets

Update: US Equity Indexes Rise as Washington Lifts Blockade of Iran's Ports, Deal Sets Up Hormuz Chokepoint for Reopening

(Updates with index/price moves, macroeconomic data, and political/company news from the first paragraph.)US equity indexes rose after a peace deal signed by President Donald Trump and his Iranian counterpart, Masoud Pezeshkian, led to Washington lifting its blockade of Tehran's ports on Thursday and as mega-cap semiconductor names rallied.The Nasdaq Composite advanced 1.9% to 26,517.93, with the S&P 500 up 1.1% to 7,500.58 and the Dow Jones Industrial Average higher by 0.1% to 51,564.70 on Thursday.Technology led the gainers, followed by consumer discretionary and communication services. Energy led the decliners.The US on Thursday lifted its blockade of Iran, and oil tankers began freely moving through the Strait of Hormuz after months of being unable to use the critical channel, as the tentative agreement to end the war took effect, according to the Associated Press. US Vice President JD Vance said that the 60-day negotiating period between Tehran and Washington began on Thursday, Al Jazeera reported.Iran's Supreme National Security Council says that the Persian Gulf Strait Authority has been charged with issuing permits as fast as possible for commercial vessels wishing to transit the Strait of Hormuz, the Al Jazeera report said.Front-month global benchmark North Sea Brent shed 0.3% to $79.34 per barrel, and the US West Texas Intermediate climbed 0.3% to $76.55 per barrel. Both the WTI and Brent traded more than 2% lower earlier in the session.The US expects "a complete ceasefire on all fronts", including Lebanon, Hezbollah, and Israel, Al Jazeera cited US President Donald Trump as saying. "We encourage everyone in the Middle East Region to maintain their commitment to allowing our negotiations to beautifully unfold.""You can't just kill your way out of solving every single national security problem that you have," Al Jazeera cited Vance as saying in reference to Israel.In company news, Intel (INTC) shares surged 11% to among the leaders on the S&P 500 and the Nasdaq, after Trump said Apple (AAPL) has agreed to work with Intel to design and build chips in the US.Tower Semiconductor (TSEM) said it shipped more than five million coherent photonic integrated circuits in partnership with Marvell Technology (MRVL). Shares of Marvell jumped 7.3%, among the top gainers on the Nasdaq.In economic news, US initial jobless claims fell to 226,000 in the week ended June 13 from an upwardly revised 230,000 in the previous week, compared with expectations for 225,000 in a survey of analysts compiled by Bloomberg.In precious metals, gold futures slumped 3.3% to $4,238.30, while silver futures plummeted 6.7% to $66.51 as investors priced in higher interest rates this year.On Wednesday, the Federal Reserve unanimously left its benchmark rate unchanged in the 3.50% to 3.75% range, while excluding language that suggested a lingering bias toward cuts. The probability of US interest rates rising to the 4% to 4.25% target range soared to 33% as of Thursday afternoon from 14% a week ago, implying the market doubled its outlook for two rate increases of 25 basis points each by the end of 2026, according to the CME FedWatch tool.US Treasury yields traded mixed, with the 10-year down less than one basis point to 4.45%, while the two-year rose 1.6 basis points to $4.18%.

Dow JonesNasdaq CompositeS&P 500$AAPL$INTC$MRVL$TSEM
Sectors

Sector Update: Tech Stocks Climb Late Afternoon

Tech stocks were sharply higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.9% and the State Street SPDR S&P Semiconductor ETF (XSD) jumping 6.8%.The Philadelphia Semiconductor index popped 6.6%.In corporate news, Intel (INTC) shares jumped past 10% after President Donald Trump said Apple (AAPL) has agreed to work with Intel to design and build chips in the US. Apple shares added 0.4%.Tower Semiconductor (TSEM) said it shipped more than five million coherent photonic integrated circuits in partnership with Marvell Technology (MRVL). Marvell shares surged past 13%, and Tower Semiconductor gained 4.7%.Micron Technology (MU) may deliver fiscal Q3 results well above Wall Street's expectations after market prices for memory chips came in higher than the company had assumed, Wedbush Securities said. Micron shares climbed 9.3%.Amazon.com (AMZN) is in discussions to sell its custom AI chips for use in other firms' data centers, expanding its efforts to challenge Nvidia's (NVDA) dominance in the AI chip market, Bloomberg reported, citing Amazon AI chief Peter DeSantis. Amazon shares rose 2.3%.

$AAPL$AMZN$INTC$MRVL$MU$TSEM
Sectors

Sector Update: Tech Stocks Gain Thursday Afternoon

Tech stocks were sharply higher Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.1% and the State Street SPDR S&P Semiconductor ETF (XSD) jumping 6.7%.The Philadelphia Semiconductor index popped 6.5%.In corporate news, Intel (INTC) shares jumped past 10% after President Donald Trump said Apple (AAPL) has agreed to work with Intel to design and build chips in the US.Tower Semiconductor (TSEM) said it shipped more than five million coherent photonic integrated circuits in partnership with Marvell Technology (MRVL). Marvell shares surged 12%, and Tower Semiconductor climbed up 5.2%.Micron Technology (MU) may deliver fiscal Q3 results well above Wall Street's expectations after market prices for memory chips came in higher than the company had assumed, Wedbush Securities said. Micron shares gained 8.5%.

$INTC$MRVL$MU$TSEM
Asia Markets

Update: US Equity Indexes Jump as Crude Oil Heads for Pre-War Levels Ahead of Iran Reopening Hormuz Chokepoint

(Updates with index/price moves, macroeconomic data, and political/company news from the first paragraph.)US equity indexes rose amid a rally in mega-cap semiconductors and as crude oil extended declines to the lowest in more than three months after a signing of the interim Iran peace deal set the stage for an immediate reopening of the Strait of Hormuz.The Nasdaq Composite advanced 1.5% to 26,406.3, with the S&P 500 up 1.1% to 7,499.9 and the Dow Jones Industrial Average higher by 0.4% to 51,673.7 after midday Thursday.All sectors except energy, health care, consumer staples, and financials rose. Technology led the gainers, followed by consumer discretionary.President Donald Trump and Iranian President Masoud Pezeshkian digitally signed a memorandum of understanding targeting a permanent peace deal to end the war between the US and Iran."Upon the signing of this MOU, the Islamic Republic of Iran will make arrangements using its best efforts for the safe passage of commercial vessels with no charge for 60 days only from the Persian Gulf to the Sea of Oman and vice versa," Reuters cited one of the clauses in the framework agreement. "The traffic of commercial vessels will immediately start and, considering the need for removing the technical and military obstacles and de-mining by the Islamic Republic of Iran, will be instated within 30 days."Crude oil futures declined, with front-month global benchmark North Sea Brent slumping 2.6% to $77.49 per barrel after midday. The US West Texas Intermediate sank 3% to $74.50 per barrel, the lowest level since around early March.Most US Treasury yields fell, with the 10-year down 2.2 basis points to 4.44%, as sliding crude oil alleviates inflation concerns.In precious metals, gold futures slumped 3.2% to $4,240.5, while silver futures plummeted 6.6% to $66.13 as investors priced in higher interest rates this year.On Wednesday, the Federal Reserve unanimously left its benchmark rate unchanged in the 3.50% to 3.75% range, while excluding language that suggested a lingering bias toward cuts. The probability of US interest rates rising to the 4% to 4.25% target range soared to 33% as of Thursday afternoon from 14% a week ago, implying the market doubled its outlook for two rate increases of 25 basis points each by the end of 2026, according to the CME FedWatch tool.In company news, Intel (INTC) shares surged 11% to among the leaders on the S&P 500 and the Nasdaq, after Trump said Apple (AAPL) has agreed to work with Intel to design and build chips in the US.Tower Semiconductor (TSEM) said it shipped more than five million coherent photonic integrated circuits in partnership with Marvell Technology (MRVL). Shares of Marvell soared 12%, the top gainer on the Nasdaq.In economic news, US initial jobless claims fell to 226,000 in the week ended June 13 from an upwardly revised 230,000 in the previous week, compared with expectations for 225,000 in a survey of analysts compiled by Bloomberg.

Dow JonesNasdaq CompositeS&P 500$AAPL$INTC$MRVL$TSEM
Sectors

Sector Update: Technology Stocks Rise Pre-Bell Thursday

Technology stocks were rising pre-bell Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) 2.3% higher and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 3.9%.Intel (INTC) shares were up more than 8% after President Donald Trump said Apple (AAPL) has agreed to work with Intel to design and build chips in the US.Accenture (ACN) stock was down more than 16% after the company issued fiscal Q4 revenue outlook below analysts' expectations. Accenture also said it is acquiring a majority stake in Dragos and full ownership of runZero and NetRise in a $4.18 billion deal.Tower Semiconductor (TSEM) said it has shipped more than five million coherent photonic integrated circuits in partnership with Marvell Technology (MRVL). Tower Semiconductor shares were up more than 4% and Marvell Technology rose 6% premarket.

$AAPL$ACN$INTC$MRVL$TSEM$XLK$XSD
Asia Markets

Update: Signed US-Iran Peace Deal Lifts US Equity Futures Pre-Bell

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Thursday after the US and Iran digitally signed an agreement aimed at ending the war in the Middle East.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.8%, and Nasdaq futures were 1.6% higher.President Donald Trump and Iranian President Masoud Pezeshkian digitally signed a memorandum of understanding targeting a permanent peace deal to end the war between the US and Iran. Amid criticism that Iran came out with the better end of the deal, Trump said in a post on Truth Social that people thinking he was not tough enough on the Middle Eastern nation were "either jealous, bad people, or stupid."All three major US stock indexes ended lower on Wednesday after Federal Reserve officials signaled a potential rate hike by the end of 2026 as inflation remains elevated.Traders observed the latest round of earnings, with Accenture (ACN) posting higher fiscal Q3 earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.3% at $78.52 per barrel and US West Texas Intermediate crude 2.1% lower at $75.22 per barrel.The weekly jobless claims bulletin showed 226,000 new unemployment claims for the week ended June 13, compared with the upwardly adjusted 230,000 figure in the prior week and above the 225,000 expected in a survey compiled by Bloomberg. The Philadelphia Federal Reserve's monthly manufacturing index rose to 10.3 in June from negative 0.4 in May, compared with expectations for a smaller increase to a reading of 10.0.In other world markets, Japan's Nikkei closed 1.7% higher, Hong Kong's Hang Seng ended 1.6% lower, and China's Shanghai Composite finished 0.4% lower. Meanwhile, the UK's FTSE 100 was down 1.1%, and Germany's DAX index was 00% lower in Europe's early afternoon session.In equities, Intel (INTC) shares were up 9% after President Donald Trump said Apple (AAPL) has "agreed to work with Intel to design and build its Chips in America." Taiwan Semiconductor Manufacturing's (TSM) stock was up 1.6% after a Nikkei Asia report cited chief operating officer Chris Koopmans as saying that Marvell Technology (MRVL) plans to adopt the company's 1.4-nanometer process for future chips. Broadcom (AVGO) shares were up 3.2% after the company said increased the maximum amount it will spend on its debt buyback program to $3 billion from $2.5 billion due to the strong participation.On the losing side, Accenture shares dropped 16% after the company reported its fiscal Q3 financial results. Kroger (KR) stock was down 4.7% after the company posted higher fiscal Q1 adjusted earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$AAPL$ACN$AVGO$INTC$KR$MRVL$TSM
Insider Trading

Marvell Technology Insider Sold Shares Worth $667,359, According to a Recent SEC Filing

Sandeep Bharathi, President, Data Center Group, on June 15, 2026, sold 2,231 shares in Marvell Technology (MRVL) for $667,359. Following the Form 4 filing with the SEC, Bharathi has control over a total of 55,530 common shares of the company, with 55,530 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1835632/000162828026044030/xslF345X05/wk-form4_1781733177.xml

$MRVL
International

US Equity Markets End Mixed as Dow Hits Record High Amid Lower Crude Oil Prices, Tech Stock Sell-Off

US equity indexes were mixed on Tuesday after the Dow Jones Industrial Average hit a new all-time intraday amid sliding crude oil prices, while technology stocks witnessed a sell-off.* Iran warned that any Israeli attack on Lebanon or continued occupation of its territory from now on will constitute a violation of the interim agreement with the US, Al Jazeera reported. However, Israeli Prime Minister Benjamin Netanyahu has made clear he does not intend to withdraw from southern Lebanon, Gaza, or Syria, according to the CNN news report.* US import prices jumped 1.9% in May, ahead of the 1% increase expected in a Bloomberg-compiled survey and following a 2.0% gain in April.* Redbook US same-store sales soared 9.4% from a year earlier in the week ended June 13, after surging 9.1% in the previous week.* July West Texas Intermediate crude oil fell $3.81 to settle at $76.94 per barrel, while August Brent crude, the global benchmark, was last seen down $3.47 at $79.70.* Moderna (MRNA) shares were up about 6.3%, the second-best gainer on the S&P 500, after the company said Tuesday it is changing the corporate operating model to support short and long-term business goals.* Marvell Technology (MRVL) shares fell nearly 10%, the steepest decline on the S&P 500, a day after outgoing CFO Willem Meintjes filed to sell 211,329 shares, according to Form 144 filings with the US Securities and Exchange Commission.

Dow JonesNasdaq CompositeS&P 500$MRNA$MRVL
Sectors

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks declined late Tuesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.3% and the State Street SPDR S&P Semiconductor ETF (XSD) retreating 4%.The Philadelphia Semiconductor Index lost 4.6%.In sector news, JPMorgan Chase (JPM) analysts now expect large tech companies to spend about $5.5 trillion through 2030 to develop AI infrastructure, Bloomberg reported Tuesday, citing a research note. Debt will provide roughly $4.1 trillion of the financing, the analysts reportedly said.In corporate news, Marvell Technology (MRVL) shares fell past 7% in Tuesday trading, a day after outgoing CFO Willem Meintjes filed to sell 211,329 shares, according to Form 144 filings with the US Securities and Exchange Commission.Space Exploration Technologies (SPCX) has agreed to acquire Anysphere, which operates AI coding agent Cursor, in a deal worth about $60 billion, just days after the rocket and satellite company went public. SpaceX shares rose 4.1%.Apple's (AAPL) upcoming camera-equipped AirPods, a product meant to push the company into the AI-device market, are scheduled to launch in late 2027, Bloomberg reported. Apple shares rose 0.7%.Palantir (PLTR) is facing scrutiny after data showed most UK National Health Service platform gains occurred in just a few hospital trusts, the Financial Times reported, citing data obtained by the campaign group Foxglove through a freedom-of-information request. Palantir shares were falling 1.6%.

$AAPL$MRVL$PLTR$SPCX
Insider Trading

Marvell Technology Insider Sold Shares Worth $2,240,700, According to a Recent SEC Filing

Matthew J Murphy, Director, Chairman of the Board and CEO, on June 15, 2026, sold 7,500 shares in Marvell Technology (MRVL) for $2,240,700. Following the Form 4 filing with the SEC, Murphy has control over a total of 788,009 common shares of the company, with 788,009 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1835632/000162828026043503/xslF345X05/wk-form4_1781636321.xmlPrice: $289.37, Change: $-19.51, Percent Change: -6.32%

$MRVL
Wire

Sector Update: Tech Stocks Fall Tuesday Afternoon

Tech stocks were lower Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) down 3.4%.The Philadelphia Semiconductor index declined 3.4%.In corporate news, Marvell Technology (MRVL) shares fell 5.3% in Tuesday trading, a day after outgoing CFO Willem Meintjes filed to sell 211,329 shares, according to Form 144 filings with the US Securities and Exchange Commission.Space Exploration Technologies (SPCX) has agreed to acquire Anysphere, which operates AI coding agent Cursor, in a deal worth about $60 billion, just days after the rocket and satellite company went public. SpaceX shares jumped past 10%.Palantir (PLTR) is facing scrutiny after data showed most UK National Health Service platform gains occurred in just a few hospital trusts, the Financial Times reported, citing data obtained by the campaign group Foxglove through a freedom-of-information request. Palantir shares were falling 2.8%.Simulations Plus (SLP) has agreed to be acquired by affiliates of Altaris in an all-cash deal valued at $375 million, the company said Tuesday. Simulations Plus shares surged 11%.

$MRVL$PLTR$SLP$SPCX
Sectors

Sector Update: Tech

Tech stocks were lower Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.4%.The Philadelphia Semiconductor index declined 3.4%.In corporate news, Marvell Technology (MRVL) shares fell 5.6% in Tuesday trading, a day after outgoing chief financial officer Willem Meintjes filed to sell a total of 211,329 common shares, according to Form 144 filings with the US Securities and Exchange Commission.

$MRVL
Wire

Marvell Technology Shares Fall After Outgoing CFO Offloads Shares Before Exit

Marvell Technology (MRVL) shares fell 4.6% in Tuesday trading, a day after outgoing chief financial officer Willem Meintjes filed to sell a total of 211,329 common shares, according to Form 144 filings with the US Securities and Exchange Commission.Meintjes also said in a separate Form 4 filing that he owns a total of 227,037 shares of the company.Marvell said on June 11 that it has named Dan Durn as CFO, starting June 15, succeeding Meintjes, who will remain in an advisory role through April 2027.Price: $294.69, Change: $-14.19, Percent Change: -4.59%

$MRVL
Adobe's Strong Quarter Overshadowed by CFO Exit, Growth Uncertainty, RBC Says
US Markets

Adobe's Strong Quarter Overshadowed by CFO Exit, Growth Uncertainty, RBC Says

Adobe's (ADBE) solid quarterly results were overshadowed by the departure of its finance chief and lingering questions about the software marker's growth trajectory, RBC Capital Markets said in a report.Chief Financial Officer Dan Durn resigned to take the same role at Marvell Technology (MRVL), with Steve Day, CFO of Adobe's customer experience orchestration unit, stepping in as interim finance chief.On Thursday, Adobe posted fiscal second-quarter results that topped expectations. Investors instead focused on the leadership change and the company's decision to keep its full-year growth outlook for annualized recurring revenue unchanged even after adding contribution from its Semrush acquisition, RBC said. Offsetting that contribution are headwinds from Adobe's freemium strategy and deferred Creative Cloud line optimizations, the report said.Adobe shares dropped 6.6% in Friday trading. They have slumped 42% this year."Adobe delivered a solid result from a headline perspective, but the exit of CFO Dan Durn and moving parts around organic ARR guidance created more uncertainty for a stock trying to firm up its foundation," RBC said.Management highlighted that second-half seasonality will skew more heavily toward the fourth quarter than in prior years, the report said.Adobe raised its fiscal 2026 adjusted EPS outlook to $24.35 to $24.45 from $23.30 to $23.50 and lifted its revenue forecast to $26.5 billion to $26.6 billion from $25.9 billion to $26.1 billion.The FactSet consensus is for EPS of $24.24 on revenue of $26.45 billion. RBC expects EPS of $24.40 on revenue of $26.55 billion.RBC cut its price target on Adobe stock to $285 from $350 and maintained its outperform rating.Price: $204.30, Change: $-14.50, Percent Change: -6.63%

$ADBE$MRVL
Adobe Second-Quarter Results Top Estimates; CFO Resigns
US Markets

Adobe Second-Quarter Results Top Estimates; CFO Resigns

Adobe's (ADBE) fiscal second-quarter results surpassed Wall Street's estimates amid strong artificial intelligence-driven demand, while the Photoshop maker said Chief Financial Officer Dan Durn resigned.Adjusted earnings per share rose to $5.96 in the three months ended May 29 from $5.06 a year earlier, compared with the FactSet-polled consensus of $5.82. Revenue jumped 13% to $6.62 billion, higher than the Street's $6.45 billion view.Adobe's record revenue in the second quarter reflected "strong AI-driven demand across our customer groups," Chief Executive Shantanu Narayen said in a statement.Annualized recurring revenue exiting the quarter was $27.10 billion. Analysts expected $26.60 billion. AI-first ARR tripled year over year to more than $500 million, according to the company.RBC Capital Markets expected Adobe to deliver "solid" results and ARR above consensus expectations.Subscription revenue jumped 14% year-over-year to $6.42 billion.Durn will leave the company on June 15, Adobe said. Its customer experience orchestration business unit CFO, Steve Day, will serve as interim CFO.Adobe's shares were down 6% in after-hours trading. The stock declined nearly 38% so far this year through Thursday close.Marvell Technology (MRVL) said late Thursday that it appointed Durn as CFO, effective June 15.As announced in March, Narayen plans to step down as Adobe's CEO after a successor has been appointed.Adobe raised its fiscal 2026 adjusted EPS outlook to between $24.35 and $24.45 from the prior guidance of $23.30 to $23.50. Revenue is pegged at $26.50 billion to $26.60 billion, up from $25.90 billion to $26.10 billion previously expected.Analysts are modeling non-GAAP EPS of $23.54 and revenue of $26.06 billion.For the third quarter, Adobe projected adjusted EPS of $6.05 to $6.10 on revenue between $6.67 billion and $6.72 billion. The market consensus indicates $5.77 and $6.52 billion, respectively.

$ADBE$MRVL
Equities

Social Buzz: Wallstreetbets Stocks Mostly Lower Premarket Wednesday; Micron Technology, Marvell Technology to Decline

The most-talked-about stocks in the Reddit subforum Wallstreetbets were mostly lower hours before Wednesday's opening bell.Apple (AAPL) was up 0.3% in premarket activity, swinging from a 3.6% fall at Tuesday's close.DTE Energy (DTE) was marginally advancing pre-bell, after a nearly 2% increase from Tuesday's session.Micron Technology (MU) fell by 3% hours before market open, after a 1.4% decline from the previous session.Marvell Technology (MRVL) declined by 3% premarket, after closing Tuesday with a 7.6% fall.Reddit (RDDT) was down 3% in pre-bell hours, following a 4.1% increase from Tuesday's session.Broadcom (AVGO) fell by 2% premarket, after a 1.1% decline from the previous session.Nvidia (NVDA) was 2% lower in pre-bell activity, following a 0.2% decline at Tuesday's close.Microsoft (MSFT) was down 1.3% pre-bell, following a 2% fall from Tuesday's session.

$AAPL$AVGO$DTE$MRVL$MSFT$MU$NVDA$RDDT
Asia Markets

US Equity Indexes Decline as Technology Comes Under Selling Pressure

US equity indexes traded mixed but were off session lows amid a semiconductor-led decline in technology shares on Tuesday.The Nasdaq Composite dropped 1% to 25,678.82, with the S&P 500 down 0.3% to 7,386.65. The Dow Jones Industrial Average rose 0.2% to 50,872.11, after trading lower earlier in the day.Real estate, materials, and health care sectors led the gainers.Technology and energy were the only decliners, down 1.8% and 1.6%, respectively. Marvell Technology (MRVL), Arm (ARM), and Qualcomm (QCOM) declined by at least 5.7% each, the worst-performing three stocks among companies with market capitalizations exceeding $200 billion, according to data compiled by Finviz.SpaceX (SPCX), which is likely to go public on June 12, Amazon-backed (AMZN) Anthropic, and Microsoft-backed (MSFT) OpenAI's upcoming public offerings may drag down broader stock markets, Research Affiliates founder Rob Arnott told Bloomberg News on Friday. Index funds will have to trim their current positions to make room for new entrants.The consumer price index for May is due on Wednesday.The strength in the CPI will largely come from energy, with gasoline up roughly 8% on the month, alongside idiosyncratic pressures, Jefferies said in a note Friday. "Overall, the firm print looks somewhat skewed by energy and one-offs, but still keeps the inflation backdrop sticky in the near term."In precious metals, gold futures dropped 1.8% to $4,283.6, and silver futures slumped 4.6% to $65.44.In energy markets, West Texas Intermediate crude oil futures fell 3.1% to $88.50, and Brent crude futures slid 2.7% to $91.72.A deal to end the war in the Middle East could be reached in "two to three days," with the Strait of Hormuz reopening "immediately" after the agreement is signed, President Donald Trump was cited as saying in a CNBC news report late Monday. The two countries are nearing a pact "that will not in any way allow nuclear weapons," Trump reportedly said."Oil gave back most of Monday's gains after Israel and Iran halted hostilities that had threatened to derail already fragile efforts to secure a broader peace agreement in the Middle East," Saxo Bank wrote in a note. "US President Donald Trump, meanwhile, maintained his typically optimistic tone, saying negotiations are in the 'final throes' of what he expects will be a successful deal."Most US Treasury yields fell, with the 10-year down 3.2 basis points to 4.52%. The two-year rate fell 3.8 basis points to 4.12%.Further in economic news, US existing home sales increased to the highest level since December in May, the National Association of Realtors said. Sales rose 3.2% sequentially to a seasonally adjusted annual rate of 4.17 million units last month.The goods and services deficit narrowed $700 million to $55.9 billion in April from March on a seasonally adjusted basis, the US Census Bureau and the Bureau of Economic Analysis said. The consensus was for a $56.1 billion shortfall in a Bloomberg survey."Soaring oil exports are helping to narrow the US trade gap, with tariffs playing a more minor role in slowing imports," Sal Guatieri, BMO Capital Markets senior economist, said in a note. The export gain was driven by "surging crude sales" while computer hardware and microchips continued to fuel import growth, he said.

Dow JonesNasdaq CompositeS&P 500$AMZN$ARM$MRVL$MSFT$QCOM$SPCX
International

US Equity Markets End Lower Amid Tech Stock Sell-Off

US equity indexes were lower on Tuesday amid a technology stocks sell-off and despite progress in US-Iran peace negotiations.* Technology and energy were standout decliners, down 1.8% and 1.6%, respectively. Marvell Technology (MRVL), Arm (ARM), Dell (DELL), and Qualcomm (QCOM) declined by at least 7% each, according to data compiled by Finviz.* A deal to end the war in the Middle East could be reached in "two to three days," with the Strait of Hormuz reopening "immediately" after the agreement is signed, President Donald Trump was cited as saying in a CNBC news report.* US existing home sales rose 3.2% sequentially to a seasonally adjusted annual rate of 4.17 million units last month.* July West Texas Intermediate crude oil fell $2.73 to settle at $88.57 per barrel, while August Brent crude, the global benchmark, was last seen down $2.41 at $91.87.* J.M. Smucker (SJM) shares rose roughly 10%, the top gainer on the S&P 500, after the company reported better-than-expected fiscal Q4 results on Tuesday, while the food producer's full-year earnings outlook came in above Wall Street's estimates at the midpoint.* Salesforce (CRM) shares were down 3.9%, the worst performer on the Dow. The cloud-based customer relationship management platform provider implemented a fresh round of job cuts, Business Insider reported Tuesday.

Dow JonesNasdaq CompositeS&P 500$ARM$CRM$DELL$MRVL$QCOM$SJM
Japan

Technology Pushes US Equity Indexes Lower

US equity indexes fell following a semiconductor-led sell-off in technology that continued into the final leg of trading on Tuesday.The Nasdaq Composite dropped 1.6% to 25,522.1, with the S&P 500 down 0.8% to 7,346.7, and the Dow Jones Industrial Average lower by 0.1% to 50,708.4. All three gauges were off session lows.Technology and energy were standout decliners, down 2.8% and 1.8%, respectively, ahead of Tuesday's close. Marvell Technology (MRVL), Arm (ARM), and Qualcomm (QCOM) declined by at least 7.3% each, the worst-performing three stocks among companies with market capitalizations exceeding $200 billion, according to data compiled by Finviz.West Texas Intermediate crude oil futures fell 3.5% to $88.11, and Brent crude futures slid 3% to $91.40.A deal to end the war in the Middle East could be reached in "two to three days," with the Strait of Hormuz reopening "immediately" after the agreement is signed, President Donald Trump was cited as saying in a CNBC news report. The two countries are nearing a pact "that will not in any way allow nuclear weapons," Trump was cited as saying."Oil gave back most of Monday's gains after Israel and Iran halted hostilities that had threatened to derail already fragile efforts to secure a broader peace agreement in the Middle East," Saxo Bank wrote in a note. "US President Donald Trump, meanwhile, maintained his typically optimistic tone, saying negotiations are in the 'final throes' of what he expects will be a successful deal."

Dow JonesNasdaq CompositeS&P 500$ARM$MRVL$QCOM
Asia Markets

US Equity Indexes Slump as Semiconductors Lead Big-Tech Slide

US equity indexes dived following a sharp sell-off in technology, led by semiconductors, in midday trading on Tuesday.The Nasdaq Composite dropped 1.8% to 25,468.1, with the S&P 500 down 0.9% to 7,340.8, and the Dow Jones Industrial Average lower by 0.2% to 50,710.5.Technology and energy were standout decliners, down 3.1% and 1.9%, respectively. Marvell Technology (MRVL), Arm (ARM), Dell (DELL), and Qualcomm (QCOM) declined by at least 8% each, the worst-performing stocks among companies with market capitalizations exceeding $200 billion, according to data compiled by Finviz.The real estate, healthcare, and materials sectors led the gainers.West Texas Intermediate crude oil futures fell 3.4% to $88.22, and Brent crude futures dropped 2.8% to $91.60.A deal to end the war in the Middle East could be reached in "two to three days," with the Strait of Hormuz reopening "immediately" after the agreement is signed, President Donald Trump was cited as saying in a CNBC news report. The two countries are nearing a deal "that will not in any way allow nuclear weapons," Trump was cited as saying."Oil gave back most of Monday's gains after Israel and Iran halted hostilities that had threatened to derail already fragile efforts to secure a broader peace agreement in the Middle East," Saxo Bank wrote in a note. "US President Donald Trump, meanwhile, maintained his typically optimistic tone, saying negotiations are in the 'final throes' of what he expects will be a successful deal."Most US Treasury yields fell, with the 10-year down one basis point to 4.54%. The two-year rate fell 2.3 basis points to 4.14%.In precious metals, gold futures dropped 2% to $4,277.5, and silver futures slumped 5.2% to $65.04.US existing home sales increased to the highest level since December in May, the National Association of Realtors said. Sales rose 3.2% sequentially to a seasonally adjusted annual rate of 4.17 million units last month."More Americans are on the move, with home sales rising to the highest level since December. This is great news for the housing market and the economy," NAR Chief Economist Lawrence Yun said. "Improving affordability is helping drive this momentum."The goods and services deficit narrowed $700 million to $55.9 billion in April from March on a seasonally adjusted basis, the US Census Bureau and the Bureau of Economic Analysis said. The consensus was for a $56.1 billion shortfall in a Bloomberg survey."Soaring oil exports are helping to narrow the US trade gap, with tariffs playing a more minor role in slowing imports," Sal Guatieri, BMO Capital Markets senior economist, said in a note. The export gain was driven by "surging crude sales" while computer hardware and microchips continued to fuel import growth, he said.Wholesale inventories rose by 0.6% in April, revised up from a 0.5% increase in the advance reading and following a 1.5% rise in March. Analysts in a Bloomberg-compiled survey expected April inventories to be revised upward to a 0.6% increase.

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