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135 stories mentioning Morgan StanleyUpdated 2d ago

Morgan Stanley projected SpaceX's revenue could reach $3.4 trillion by 2040 with adjusted EBITDA topping $2.7 trillion.

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Wire

OpenAI Launches ChatGPT for Financial Services

Microsoft (MSFT)-backed OpenAI Thursday launched ChatGPT for Financial Services, a ChatGPT Work product supporting bankers in developing equity research, financial models, and tailored client materials.ChatGPT for Financial Services was designed in partnership with Morgan Stanley (MS) and Evercore (EVR), and includes datasets from providers like Daloopa, PitchBook, and LSEG News covering earnings transcripts and financial statements, OpenAI said.The product also offers frontier intelligence, including GPT-6 Astra, and will continue to have newer models available as they are released, the company said.ChatGPT for Financial Services is available to eligible financial institutions, OpenAI added.Price: $491.25, Change: $-0.40, Percent Change: -0.08%

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Treasury

Update: Market Chatter: Uber Targets 4 Billion Euros From Five-Tranche Euro Bond Deal, Deal Size Could Increase

(Updates with more details on the transaction in the headline and second paragraph.)Uber Technologies (UBER) launched its inaugural five-tranche euro bond offering, which is expected to be priced on the same day, Bloomberg News reported Wednesday, citing a person familiar with the matter.The company expects the transaction to raise around 4 billion euros, although the deal could be expanded, according to separate people familiar with the matter.The company is marketing fixed-rate debt with terms ranging between three and 20 years, with initial yield spreads from 75 to 80 basis points over mid-swaps for the shortest-dated tranche to about 200 basis points for the longest, the news outlet quoted the source as saying.Goldman Sachs (GS), Bank of America (BAC), Deutsche Bank (DB), and Morgan Stanley (MS) are lead-managing the debt issuance, among others, Bloomberg News reported.Uber Technologies, Goldman Sachs, Bank of America, Deutsche Bank, and Morgan Stanley did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Treasury

Market Chatter: Uber Technologies Launches Initial Five-Tranche Euro Bond Deal

Uber Technologies (UBER) launched its inaugural five-tranche euro bond offering, which is expected to be priced on the same day, Bloomberg News reported Wednesday, citing a person familiar with the matter.The company is marketing fixed-rate debt with terms ranging between three and 20 years, with initial yield spreads from 75 to 80 basis points over mid-swaps for the shortest-dated tranche to about 200 basis points for the longest, the news outlet quoted the source as saying.Goldman Sachs (GS), Bank of America (BAC), Deutsche Bank (DB), and Morgan Stanley (MS) are lead-managing the debt issuance, among others, Bloomberg News reported.Uber Technologies, Goldman Sachs, Bank of America, Deutsche Bank, and Morgan Stanley did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Treasury

Market Chatter: Uber Schedules Meetings for Initial Five-Part Euro Bond Offering

Uber Technologies (UBER) scheduled investor meetings on Sept. 7 and 8 for a potential maiden five-part euro bond sale, Bloomberg News reported Monday, citing an unnamed person familiar with the matter.The company engaged Goldman Sachs (GS), BNP Paribas, Bank of America (BAC), Deutsche Bank (DB), and Morgan Stanley (MS) as bookrunners for the proposed transaction, the news outlet quoted the person as saying.The debt offering is slated to include fixed-rate notes for three-, six-, eight-, 12-, and 20-year maturities, Bloomberg News reported, citing the person.Uber, Goldman Sachs, BNP Paribas, Bank of America, Deutsche Bank, and Morgan Stanley did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$BAC$DB$MS$UBER
Wire

Market Chatter: Morgan Stanley Advises Advanced Protection Systems on Potential Sale

Morgan Stanley (MS) has been appointed to advise Polish anti-drone company Advanced Protection Systems on strategic options that could include a potential sale, Bloomberg reported Friday, citing people familiar with the matter.According to the report, the investment bank has begun contacting potential interested parties. Discussions remain at an early stage, with no guarantee that a transaction will take place, Bloomberg said.APS said it regularly reviews strategic options, including bringing in an investor, pursuing an IPO, forming strategic partnerships or a potential sale, Bloomberg added.Morgan Stanley did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $215.81, Change: $-1.35, Percent Change: -0.62%

$MS
Sectors

Sector Update: Financial Stocks Fall Premarket Tuesday

Financial stocks were leaning lower premarket Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.3% higher.Citigroup (C) is planning to expand its global corporate banking team that serves North Asian clients by about 25% in 2026, Bloomberg reported, citing a company executive. Citigroup stock was down 0.5% pre-bell.Morgan Stanley's (MS) investment management unit and Mitsubishi UFJ Financial (MUFG) have begun talks to form a collaboration that will help a diverse group of institutional investors participate in developing Japan's private credit market. Shares of Morgan Stanley were nearly 1% lower premarket.Ares Management (ARES) has closed the Japan Logistics Development Partners V LP fund, raising 612 billion Japanese yen ($3.82 billion). Ares Management shares were 0.5% lower pre-bell.

$ARES$C$FAS$FAZ$MS$XLF
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Tuesday as Oil Prices Advance

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.5% and the actively traded Invesco QQQ Trust (QQQ) was 1% lower in Tuesday's premarket activity as oil prices advanced amid supply concerns.US stock futures were also lower, with S&P 500 Index futures down 0.6%, Dow Jones Industrial Average futures slipping 0.6%, and Nasdaq futures retreating 1.1% before the start of regular trading.Manufacturing data from S&P Global will be released at 9:45 am ET.The ISM's manufacturing reading for August, construction spending data for July, and job openings data for July are all due to be released at 10 am ET.The Dallas Fed's nonmanufacturing index for August is due to be released at 10:30 am ET.In premarket activity, bitcoin was down by 1.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1% lower, Ether ETF (EETH) retreated 1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) fell 1%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.6%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was down 1.5%.Novartis (NVS) stock was up more than 4% premarket after the company said that phase 3 trials of remibrutinib showed significantly reduced annualized relapse rates compared with teriflunomide in adults with relapsing multiple sclerosis.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.01%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was flat.Tesla (TSLA) shares were down 1% after a 5.5% gain at the prior close. Reuters reported that new Tesla car registrations in Norway and Sweden were down 79% and 41%, respectively, in August.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.3% higher.Mitsubishi UFJ Financial (MUFG) shares were up 1% after the company said it began talks with BlackRock (BLK) and Morgan Stanley's (MS) investment management unit to support the development of Japan's private credit market. BlackRock stock was 1% lower, while Morgan Stanley was retreating 0.5% pre-bell.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.6%, while the Vanguard Industrials Index Fund (VIS) was down 0.5% and the iShares US Industrials ETF (IYJ) lost 0.1%.Elbit Systems (ESLT) stock was up more than 1% before the opening bell after the company said it has signed contracts worth $270 million with an international customer in the field of intelligence, surveillance, and reconnaissance and targeting payloads.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.4%, the iShares US Technology ETF (IYW) was flat, and the iShares Expanded Tech Sector ETF (IGM) was down 0.8%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 1.7% lower, while the iShares Semiconductor ETF (SOXX) fell by 2%.Salesforce (CRM) shares were down more than 1% in premarket activity following a 0.6% gain in the prior session. Bloomberg reported that the company is investing in human resources software company HiBob as part of a $160 million funding round that values the startup at more than $3.20 billion.EnergyThe iShares US Energy ETF (IYE) was up 1.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1.3%.ExxonMobil (XOM) and Chevron (CVX) shares were 1% higher after multiple media outlets reported, citing comments made by US President Donald Trump at a press event in the Oval Office, that the companies are among several major oil companies planning to pursue business in Venezuela.CommoditiesFront-month US West Texas Intermediate crude oil rose by 2.3% to $87.77 per barrel on the New York Mercantile Exchange. Natural gas was down 1.3% at $2.90 per 1 million British Thermal Units. The United States Oil Fund (USO) advanced 2.1%, while the United States Natural Gas Fund (UNG) was 1.1% lower.Gold futures for November were down by 1.2% at $4,429.30 an ounce on the Comex. Silver futures retreated 2.2% to $65.51 an ounce. SPDR Gold Shares (GLD) decreased 1.9%, and the iShares Silver Trust (SLV) was 3% lower.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BLK$CRM$CVX$EEM$EETH$ESLT$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MS$MUFG$NVS$PMR$QQQ$RTH$SLV$SOXX$SPY$TSLA$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XOM$XRT$XSD
Sectors

Sector Update: Financial Stocks Softer Late Afternoon

Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index shedding 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.7%.The Philadelphia Housing Index was falling 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.8%.Bitcoin (BTC-USD) was rising 2% to $80,007, and the yield for 10-year US Treasuries was one basis point higher at 4.67%.In economic news, the 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. This was a wider gap than the $100.5 billion deficit expected in a survey compiled by Bloomberg.US initial jobless claims fell to 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 in the previous week, in contrast with expectations for an increase to 208,000 in a survey of analysts compiled by Bloomberg.In corporate news, Bank of America (BAC), UBS (UBS), and UniCredit are working with private aviation firm Vista Global on a potential initial public offering in Europe that could raise over $1 billion, Bloomberg reported. Bank of America shares were down 1.5%, and UBS was shedding 0.3%.JPMorgan Chase (JPM), Bank of America, Goldman Sachs (GS) and Morgan Stanley (MS) are clashing over pending changes to the Federal Reserve's capital surcharge on global systemically important banks, or GSIB, Reuters reported. The Federal Reserve proposed changes to the surcharge in March, including revised policies on short-term wholesale funding, to make the levy more risk-sensitive, the report said. Sources said JPMorgan and Bank of America argued that the proposal would benefit rivals Morgan Stanley and Goldman Sachs, Reuters reported. JPMorgan shares were down 0.7%, Goldman shed 0.2%, and Morgan Stanley advanced 0.3%.Enbridge (ENB) has entered into a definitive agreement with KKR (KKR) to form a joint venture that will invest about $2.7 billion Canadian dollars ($1.94 billion) to fund the expansion of the Aspen Point and Sunrise programs on the Westcoast natural gas pipeline system, the company said Thursday. Separately, KKR has agreed to settle for $250 million a US Department of Justice lawsuit accusing the firm of repeatedly violating federal pre-merger filing rules, the regulator said Wednesday. KKR shares rose 0.7%.Toronto-Dominion Bank (TD) shares climbed 1.6% after the company reported higher fiscal Q3 adjusted earnings and revenue.

$BAC$GS$JPM$KKR$MS$TD$UBS
Sectors

Sector Update: Financial Stocks Decrease Thursday Afternoon

Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index shedding 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.4%.The Philadelphia Housing Index was falling 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.6%.Bitcoin (BTC-USD) was rising 2% to $80,568, and the yield for 10-year US Treasuries was steady at 4.664%.In economic news, the 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. This was a wider gap than the $100.5 billion deficit expected in a survey compiled by Bloomberg.US initial jobless claims fell to 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 in the previous week, in contrast with expectations for an increase to 208,000 in a survey of analysts compiled by Bloomberg.In corporate news, JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS) and Morgan Stanley (MS) are clashing over pending changes to the Federal Reserve's capital surcharge on global systemically important banks, or GSIB, Reuters reported. The Federal Reserve proposed changes to the surcharge in March, including revised policies on short-term wholesale funding, to make the levy more risk-sensitive, the report said. Sources said JPMorgan and Bank of America argued that the proposal would benefit rivals Morgan Stanley and Goldman Sachs, Reuters reported. JPMorgan shares were down 0.4%, Bank of America shed 1%, Goldman rose 0.1%, and Morgan Stanley advanced 0.4%.Enbridge (ENB) has entered into a definitive agreement with KKR (KKR) to form a joint venture that will invest about $2.7 billion Canadian dollars ($1.94 billion) to fund the expansion of the Aspen Point and Sunrise programs on the Westcoast natural gas pipeline system, the company said Thursday. Separately, KKR has agreed to settle for $250 million a US Department of Justice lawsuit accusing the firm of repeatedly violating federal pre-merger filing rules, the regulator said Wednesday. KKR shares rose 1%.Toronto-Dominion Bank (TD) shares were up 1% after the company reported higher fiscal Q3 adjusted earnings and revenue.

$BAC$GS$JPM$KKR$MS$TD
Sectors

Sector Update: Financial

Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index shedding 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.4%.The Philadelphia Housing Index was falling 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.6%.Bitcoin (BTC-USD) was rising 2% to $80,568, and the yield for 10-year US Treasuries was steady at 4.664%.In corporate news, JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS) and Morgan Stanley (MS) are clashing over pending changes to the Federal Reserve's capital surcharge on global systemically important banks, or GSIB, Reuters reported. The Federal Reserve proposed changes to the surcharge in March, including revised policies on short-term wholesale funding, to make the levy more risk-sensitive, the report said. Sources said JPMorgan and Bank of America argued that the proposal would benefit rivals Morgan Stanley and Goldman Sachs, Reuters reported. JPMorgan shares were down 0.5%, Bank of America shed 0.9%, Goldman rose 0.2%, and Morgan Stanley advanced 0.5%.

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Wire

Market Chatter: Major US Banks Clash Over Fed's GSIB Capital Surcharge Revision

JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS) and Morgan Stanley (MS) are clashing over pending changes to the Federal Reserve's capital surcharge on global systemically important banks, or GSIB, Reuters reported Thursday, citing documents and sources familiar with the matter.The Federal Reserve proposed changes to the surcharge in March, including revised policies on short-term wholesale funding, to make the levy more risk-sensitive, according to the report. Sources said JPMorgan and Bank of America argued that the proposal would benefit rivals Morgan Stanley and Goldman Sachs.JPMorgan sent a letter to the Federal Reserve in June, estimating that it would miss out on $13 billion in extra capital relief under the proposed revision, while Bank of America would miss out on $9 billion. Morgan Stanley and Goldman Sachs, meanwhile, would realize an additional $1 billion to $2 billion in relief, Reuters said.The dispute could complicate the Federal Reserve's effort to finalize the broader capital-rule changes before 2027, according to the report.The banks did not immediately respond to' requests for comments.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $353.16, Change: $-3.34, Percent Change: -0.94%

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Wire

Market Chatter: JPMorgan, Morgan Stanley Sued Over Role in Multibillion-Dollar Buyout Deals

JPMorgan Chase (JPM) and Morgan Stanley (MS) are among the banks getting sued by shareholders over their roles in multibillion-dollar buyout deals after a recent corporate law overhaul failed to protect financial advisers from potential liability, Bloomberg reported Monday, citing lawsuits filed in the Delaware Chancery Court.Shareholders have claimed that banks assisted in the sales of public companies to private equity firms they had business relationships with at prices that undervalued their shares, alleging that the banks knew they were helping directors breach their fiduciary duties, according to the report.JPMorgan and Morgan Stanley each faced two such suits, though both managed to have one dismissed, the report added.JPMorgan Chase and Morgan Stanley did not immediately respond to requests for comment by.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $356.32, Change: $+4.74, Percent Change: +1.35%

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Sectors

Sector Update: Financial Stocks Advance Pre-Bell Friday

Financial stocks were advancing pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) up 0.5%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1.3% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.1%.KKR (KKR), with Dragoneer Investment Group (DGNR) and insurance distributor Amwins, agreed to acquire Steadfast Group in a deal worth approximately 7.7 billion Australian dollars ($5.52 billion), the Australian insurance broking giant said. KKR shares were up more than 2% premarket.Goldman Sachs (GS) is gaining ground in India's government share-sale market, securing mandates for five of the 10 major transactions since the latest divestment wave began in December, Bloomberg reported. Goldman Sachs stock was 1% higher pre-bell.Citigroup (C) may be added to the group of investment banks advising Anthropic on a potential initial public offering, joining Morgan Stanley (MS), Goldman Sachs and JPMorgan Chase (JPM), Bloomberg reported. Citigroup shares were up more than 1% premarket.

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Sectors

Sector Update: Financial Stocks Edge Higher in Wednesday Trading

Financial stocks were edging higher in early Wednesday trading, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.4%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.3% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.3%.Progressive (PGR) shares were up more than 3% after the company reported that net premiums earned in July were $7.36 billion, compared with $6.99 billion a year earlier.KKR (KKR) stock was up 2.5% a day after the company and BookMyShow said that funds managed by KKR will acquire a minority stake in the Indian entertainment company.The European Commission said Wednesday that Morgan Stanley (MS) Infrastructure had been approved to acquire sole control of French companies Nicollin, Societe Mediterraneenne de Nettoiement, Nicollin Holding Environnement, Nicollin Eau and MP3D Groupe. Shares of Morgan Stanley were down less than 1%.

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Wire

JPMorgan Chosen by General Atlantic to Lead IPO

JPMorgan Chase (JPM) was selected by General Atlantic to lead its initial public offering, multiple news outlets reported Monday.The investment firm has also hired Morgan Stanley (MS) and Goldman Sachs (GS) for the IPO, which could occur as soon as this year, the reports said.The companies didn't immediately reply to requests for comment from.Price: $364.57, Change: $+1.73, Percent Change: +0.48%

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Wire

Update: Intel Offers $15 Billion of Common Stock; Shares Decline

(Updates to include Intel's stock movement in the headline and first paragraph.)Intel (INTC) shares were down more than 4% in Monday trading after the company said it is offering $15 billion of common stock in a public offering, the proceeds of which will go toward general corporate purposes, including capital expenditures and working capital.The company said it expects to grant underwriters a 30-day option to purchase up to an additional $2.25 billion of common stock at the public offering price.J.P. Morgan (JPM), Goldman Sachs (GS), Morgan Stanley (MS) and Citigroup (C) are acting as joint book-running managers.Price: $97.10, Change: $-4.55, Percent Change: -4.48%

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Equities

Correction: S&P 500 Posts Weekly Gain Amid AI Monetization Optimism

(Corrects to remove detailed Microsoft information as story published July 31 included Q3 data.)The Standard & Poor's 500 index rose 1.1% this week as hyperscalers showed the mega spend on the artificial intelligence buildout is being monetized.The market benchmark ended the week at 7,489.72. The index is now down 0.1% quarter-to-date but up 9.4% year-to-date.Microsoft (MSFT) and Amazon.com (AMZN) rose this week as quarterly results from the tech giants showed revenue growth in areas related to AI products and services, helping calm worries surrounding hundreds of billions of dollars of investments earmarked for the AI buildout.The consumer discretionary sector in the S&P 500 had the largest percentage gain of the week, up 8.3%, followed by a 5.4% advance in communication services and a 1.2% rise in consumer staples.Sales at Amazon's cloud computing unit delivered the fastest growth in 18 quarters, helping the e-commerce giant exceed market expectations for Q2 earnings and revenue. Shares jumped 17% this week even as the e-commerce behemoth expanded its capital expenditure by about $20 billion to $220 billion.A consortium of banks led by Morgan Stanley (MS) 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 Thursday, citing people familiar with the matter. Alphabet's (GOOG, GOOGL) Google would provide financial guarantees and chips for the project. Shares of Alphabet are up 12% this week.The three worst-performing S&P 500 sectors this week were utilities, real estate and materials, down 4.2%, 2.2%, and 1.7%, respectively.C.H. Robinson Worldwide (CHRW) said a jury in Texas issued a $604 million advisory verdict against the firm and two other defendants in a lawsuit stemming from a trucking accident involving an independent motor carrier. Shares declined 21% this week.Edison International (EIX) said Thursday that Southern California Edison believes it is likely its equipment was associated with the ignition of the 2025 Eaton Fire, according to a Thursday quarterly filing. Southern California Edison recorded $1.6 billion in settlement-related losses and said it expects to incur additional material losses related to the fire, per the filing. Shares of Edison slumped 8% this week.Palantir Technologies (PLTR), Space Exploration Technologies (SPCX), Advanced Micro Devices (AMD), Caterpillar (CAT), Walt Disney (DIS), SanDisk (SNDK), Uber Technologies (UBER) and Take-Two Interactive Software (TTWO) are among the companies reporting their quarterly results next week.Economic data due next week includes non-farm payrolls, job openings and labor turnover survey, and ISM manufacturing and services purchasing managers' indexes.

S&P 500$AMD$AMZN$CAT$CHRW$DIS$EIX$GOOG$GOOGL$MS$MSFT$PLTR$SNDK$SPCX$TTWO$UBER
Sectors

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks were higher in late Wednesday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.2%.The Philadelphia Housing Index was adding 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.4%.Bitcoin (BTC-USD) was rising 1.2% to $64,814, and the yield for 10-year US Treasuries decreased 1 basis point to 4.617%.In economic news, the Institute for Supply Management's US services index rose to 54.1 in July from 54.0 in June, compared with expectations for 54.5 in a Bloomberg-compiled survey. The reading suggests faster expansion, in line with other measures but in contrast with the Richmond Fed print signaling contraction.The S&P Global US services index was revised upwards to 54.6 in July from the 53.6 flash reading, compared with expectations for no revision in a survey compiled by Bloomberg. The July index is above the 51.2 reading in June and is the highest for nine months.ADP's monthly measure of private payrolls showed a 44,000 increase in July, below expectations in a Bloomberg-compiled poll for a gain of 65,000. The July increase followed a downwardly revised 95,000 jobs increase in June.In corporate news, PayPal (PYPL) CEO Enrique Lores plans to break out company results and assign revenue targets for its three main businesses to give investors a clearer picture of each unit's potential, Bloomberg reported Wednesday, citing an interview. PayPal shares were down 0.8%.JPMorgan Chase (JPM) Chief Executive Jamie Dimon has reached out to CEOs of other large banks and IT companies, urging them to join a group seeking to address risks posed by AI, Reuters reported. JPMorgan shares were up 0.7%.Morgan Stanley (MS) is leading a consortium of banks planning to refinance through bond sales $15 billion of debt linked to a Google-backed data center in Texas that has been leased to Anthropic, the Financial Times reported. Morgan Stanley shares rose 0.8%.Ares Management (ARES) and Three Hills Capital are in talks to provide loans to Toscafund Asset Management to help finance its acquisition of Spire Healthcare Group, Bloomberg reported. Ares shares were down 2.1%.

$ARES$JPM$MS$PYPL
Sectors

Sector Update: Financial Stocks Rise in Afternoon Trading

Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.4%.The Philadelphia Housing Index was adding 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.3%.Bitcoin (BTC-USD) was increasing 1.2% to $64,692, and the yield for 10-year US Treasuries was slightly lower at 4.625%.In economic news, US private-sector employment increased less than expected in July as the gains were concentrated in just services, ADP (ADP) data showed Wednesday, ahead of the official nonfarm payrolls report for the month due later in the week. Private employers added 44,000 jobs in July, below the 65,000 increase expected in a survey compiled by Bloomberg. The hiring total for June was revised to 95,000 from 98,000, ADP said.In corporate news, JPMorgan Chase (JPM) Chief Executive Jamie Dimon has reached out to CEOs of other large banks and IT companies, urging them to join a group seeking to address risks posed by AI, Reuters reported. JPMorgan shares were up 1%.Morgan Stanley (MS) is leading a consortium of banks planning to refinance through bond sales $15 billion of debt linked to a Google-backed data center in Texas that has been leased to Anthropic, the Financial Times reported. Morgan Stanley shares rose 1.1%.Ares Management (ARES) and Three Hills Capital are in talks to provide loans to Toscafund Asset Management to help finance its acquisition of Spire Healthcare Group, Bloomberg reported. Ares shares were down 2.7%.

$ARES$JPM$MS
Equities

S&P 500 Posts Weekly Gain Amid AI Monetization Optimism

The Standard & Poor's 500 index rose 1.1% this week as hyperscalers showed the mega spend on the artificial intelligence buildout is being monetized.The market benchmark ended the week at 7,489.72. The index is now down 0.1% quarter-to-date but up 9.4% year-to-date.Microsoft (MSFT) and Amazon.com (AMZN) rose this week as quarterly results from the tech giants showed revenue growth in areas related to AI products and services, helping calm worries surrounding hundreds of billions of dollars of investments earmarked for the AI buildout.Microsoft reported triple-digit AI annual recurring revenue growth and an accelerating Azure trajectory into the end of 2026, Dan Ives, global head of technology at Wedbush Securities, said in a note to clients. The software behemoth's quarterly results, which included Azure's full-year revenue surpassing $100 billion for the first time, reinforced the idea that "any knee-jerk reactions to the elevated capex framework represent strong buying opportunities," Ives said.Shares of Microsoft were up 22% this week.The consumer discretionary sector in the S&P 500 had the largest percentage gain of the week, up 8.3%, followed by a 5.4% advance in communication services and a 1.2% rise in consumer staples.Sales at Amazon's cloud computing unit delivered the fastest growth in 18 quarters, helping the e-commerce giant exceed market expectations for Q2 earnings and revenue. Shares jumped 17% this week even as the e-commerce behemoth expanded its capital expenditure by about $20 billion to $220 billion.A consortium of banks led by Morgan Stanley (MS) 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 Thursday, citing people familiar with the matter. Alphabet's (GOOG, GOOGL) Google would provide financial guarantees and chips for the project. Shares of Alphabet are up 12% this week.The three worst-performing S&P 500 sectors this week were utilities, real estate and materials, down 4.2%, 2.2%, and 1.7%, respectively.C.H. Robinson Worldwide (CHRW) said a jury in Texas issued a $604 million advisory verdict against the firm and two other defendants in a lawsuit stemming from a trucking accident involving an independent motor carrier. Shares declined 21% this week.Edison International (EIX) said Thursday that Southern California Edison believes it is likely its equipment was associated with the ignition of the 2025 Eaton Fire, according to a Thursday quarterly filing. Southern California Edison recorded $1.6 billion in settlement-related losses and said it expects to incur additional material losses related to the fire, per the filing. Shares of Edison slumped 8% this week.Palantir Technologies (PLTR), Space Exploration Technologies (SPCX), Advanced Micro Devices (AMD), Caterpillar (CAT), Walt Disney (DIS), SanDisk (SNDK), Uber Technologies (UBER) and Take-Two Interactive Software (TTWO) are among the companies reporting their quarterly results next week.Economic data due next week includes non-farm payrolls, job openings and labor turnover survey, and ISM manufacturing and services purchasing managers' indexes.

S&P 500$AMD$AMZN$CAT$CHRW$DIS$EIX$GOOG$GOOGL$MS$MSFT$PLTR$SNDK$SPCX$TTWO$UBER

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