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Chip Stocks Weigh on Equities Intraday; Netflix Earnings on Deck
US Markets

Chip Stocks Weigh on Equities Intraday; Netflix Earnings on Deck

US benchmark equity indexes were lower intraday amid a sell-off in certain chip-related stocks as investors parsed latest corporate earnings and awaited Netflix's (NFLX) results.The technology-heavy Nasdaq Composite was down 1.1% at 25,979.8 after midday Thursday, while the S&P 500 fell 0.5% to 7,537.8. The Dow Jones Industrial Average dropped 0.2% to 52,548. Among sectors, tech saw the steepest decline, while consumer staples paced the gainers.Sandisk (SNDK) was down 12%, the biggest drop on the S&P 500. Nvidia (NVDA) fell 2.5%, among the worst performers on the Dow.Taiwan Semiconductor Manufacturing's (TSM) US-listed shares were down 3.2% after the semiconductor manufacturer reported its second-quarter results. The company earmarked an additional $100 billion to increase its chipmaking capacity in the US, Bloomberg News reported, citing a US official.In other corporate news, Abbott Laboratories (ABT) shares jumped 11%, the biggest gainer on the S&P 500. The healthcare company lifted its full-year earnings outlook after reporting second-quarter results above market estimates.UnitedHealth (UNH) raised its full-year earnings guidance, as the health insurance giant recorded an unexpected year-over-year increase in its second-quarter revenue. The company's shares rose 3.3%, among the best performers on the Dow.Streaming giant Netflix is scheduled to report results after the closing bell Thursday.West Texas Intermediate crude oil was down 0.8% at $78.96 a barrel intraday, while Brent dropped 0.7% to $84.37."Oil prices slipped as traders assessed tensions between the (US) and Iran and the risks to oil supplies moving through the Strait of Hormuz," D.A. Davidson said in a note.Iran vowed to destroy key Middle East infrastructure if US President Donald Trump carries out his threat to hit Iranian infrastructure in the absence of a deal between the two countries, an Iranian military spokesperson reportedly said. Trump issued his warning in a recent interview with Fox News, CNBC reported.US Treasury yields were higher intraday, with the two-year rate up 3.8 basis points at 4.17% and the 10-year rate rising 2.8 basis points to 4.57%.In economic news, US retail sales edged higher in June despite lower gasoline prices that drove a sharp decline in gas station receipts, official data showed.Pending home sales decreased more than projected in June amid high mortgage rates and prices, data from the National Association of Realtors showed.Homebuilder confidence deteriorated in July amid growing material prices, high land costs and elevated mortgage rates, the National Association of Home Builders and Wells Fargo said.Gold was down 1.5% at $3,992 per troy ounce, while silver lost 2.1% to $56.22 per ounce.

Dow JonesNasdaq CompositeS&P 500$ABT$NFLX$NVDA$SNDK$TSM$UNH
Stocks Mostly Down Pre-Bell as Investors Await More Earnings, Retail Sales Data
US Markets

Stocks Mostly Down Pre-Bell as Investors Await More Earnings, Retail Sales Data

US equity markets were mostly tracking in the red before the opening bell Thursday as traders await the latest round of earnings and the June retail sales report.The S&P 500 edged down 0.1% and the Nasdaq was off 0.5% in premarket activity, while the Dow Jones Industrial Average rose 0.2%. The three main indexes finished Wednesday trading higher for the second consecutive session.UnitedHealth (UNH), GE Aerospace (GE), Abbott Laboratories (ABT), Prologis (PLD), US Bancorp (USB), State Street (STT) and Citizens Financial (CFG) are expected to report their latest financial results before the bell, among others. Streaming giant Netflix (NFLX) posts its earnings after the markets close.Taiwan Semiconductor Manufacturing's (TSM) US-listed shares declined 3.9% pre-bell after the semiconductor manufacturer reported its second-quarter results. United Airlines (UAL) was down 2.3% as the air carrier flagged an additional $6 billion in fuel costs for 2026 amid rising oil prices.J.B. Hunt Transport Services (JBHT) jumped 6.4% as the transportation and logistics company's second-quarter results topped market estimates. Apple (AAPL) added 0.2% after finishing Wednesday with a 4% gain amid media reports that the iPhone maker has held talks with bankers in recent months about possible acquisitions of chip companies.Last month's retail sales report is out at 8:30 am ET.Government data showed Wednesday that producer prices unexpectedly dropped on a monthly basis in June amid a steep decline in the cost of energy products. Earlier in the week, an official report showed that consumer prices decreased last month for the first time in more than six years."While still nominally elevated at a dangerously high level, the relative improvement in inflation in June emboldens the more dovish argument that price pressures are already cooling and could retreat further into year-end as the lingering impact from tariffs falls off and energy prices potentially normalize amid -- still tentative -- but ongoing, US-Iran peace negotiations," Stifel said in a note Wednesday.US Treasury yields were up in premarket action, with the two-year rate increasing 3.2 basis points to 4.16% and the 10-year rate adding 2.8 basis points to 4.57%.Thursday's economic calendar also has the weekly jobless claims bulletin at 8:30 am, along with the Philadelphia Fed manufacturing index for July. The housing market index for the current month and the pending home sales index for June are both out at 10 am.Federal Reserve Vice Chair Philip Jefferson, Dallas Fed President Lorie Logan and Kansas City Fed President Jeffrey Schmid are all slated to speak on Thursday.Inflation is more likely to accelerate than cool given price pressures arising from an artificial intelligence boom and major supply shocks, Fed Governor Lisa Cook said Wednesday. Separately, New York Fed President John Williams said that inflation should ease in the next few quarters as energy prices retreat.West Texas Intermediate crude oil dipped less than 0.1% to $79.59 a barrel before the open, while Brent nudged down 0.3% to $84.72.The US Central Command said Wednesday its forces disabled an unladen oil tanker attempting to transit towards an Iranian port in the Arabian Gulf. The US resumed its naval blockade on Iranian ships and ports earlier this week.A spokesperson for Iran's top military command reportedly said Thursday that it will destroy key infrastructure in the Middle East if the US follows through on President Donald Trump's threat to attack power plants and bridges in the country in case a deal isn't finalized, CNBC reported.Gold decreased 0.3% to $4,039 per troy ounce, while bitcoin fell 1.1% to $64,176.

Dow JonesNasdaq CompositeS&P 500$AAPL$ABT$CFG$GE$JBHT$NFLX$PLD$STT$TSM$UAL$UNH$USB
Netflix Remains Undervalued as Engagement Concerns Overblown, Morgan Stanley Says
US Markets

Netflix Remains Undervalued as Engagement Concerns Overblown, Morgan Stanley Says

Netflix' (NFLX) valuation does not fully reflect its long-term growth potential, Morgan Stanley wrote in a note e-mailed Tuesday, saying engagement concerns are largely overblown.Investor sentiment toward Netflix has deteriorated in the last few months amid concerns about slowing engagement, increased churn following a price hike in March and higher spending, according to Morgan Stanley. The streaming giant's stock has lost 22% in value so far this year."We do think engagement concerns are largely overblown and see the potential for the live events/sports slate in the (second half) to show some improvement," Morgan Stanley wrote.Although third-party data indicate a "larger than usual spike" in churn in the US following recent price increases, the firm said its survey suggests Netflix continues to have the strongest perceived original content and continued long-term pricing power."We continue to find shares undervalued relative to the growth, but acknowledge a tricky catalyst path," the firm said.Wedbush Securities also flagged concerns about Netflix engagement, but said a ramp in advertising revenue "outweighs the engagement debate," according to a note from Monday.Morgan Stanley kept its overweight rating on Netflix intact, though it lowered the price target to $90 from $115 ahead of the release of the streaming giant's second-quarter results on Thursday.The FactSet-polled consensus indicates second-quarter earnings per share of $0.79 on revenue of $12.58 billion.Morgan Stanley expects Netflix's quarterly results and its outlook for the third quarter to be largely in line with expectations. The company will likely affirm its 2026 guidance, the brokerage said.Price: $73.67, Change: $-0.16, Percent Change: -0.22%

$NFLX
Update: Nasdaq Snaps 3-Day Winning Streak as Oil Jumps Amid US-Iran Tensions
US Markets

Update: Nasdaq Snaps 3-Day Winning Streak as Oil Jumps Amid US-Iran Tensions

(Updates with market moves at the end of the day.)Equities on Wall Street fell Monday, snapping a three-day winning streak for the technology-heavy Nasdaq Composite, as oil prices rallied amid a re-escalation in the US-Iran conflict.The Nasdaq shed 1.6% to close at 25,873.2, while the S&P 500 lost 0.8% to 7,515.8. The Dow Jones Industrial Average dropped 0.3% to 52,498.6. Among sectors, tech saw the steepest decline, down 2.1%, while energy led the gainers with a 3.2% advance.West Texas Intermediate crude was up 8.8% at $77.72 a barrel in Monday late-afternoon trade, while Brent gained 9.2% to $82.97.The US and Iran continued to exchange airstrikes over the weekend, with Tehran targeting American military facilities across Middle Eastern countries, news outlets reported. Iran's Islamic Revolutionary Guard Corps reportedly said it closed the crucial Strait of Hormuz until further notice, though the US military disputed the claim.The strait is open and will remain so "with or without Iran," President Donald Trump said in a social media post Monday, adding that the US was reinstating a blockade of Iranian shipping through the narrow waterway.Hostilities between the US and Iran resumed recently, weeks after they signed a memorandum of understanding to end their war that began at the end of February. The Strait of Hormuz is the world's most important chokepoint for crude flows."Clearly, the risk is that this escalates to levels seen early in the war, where neighboring countries and their energy infrastructure are also targeted," ING Bank said in a report. "Escalation has slowed vessels transiting the strait to a trickle, renewing concerns over oil supply tightness through the third quarter."The Organization of the Petroleum Exporting Countries on Monday reduced its global oil demand growth outlook for this year while upgrading its projection for 2027.US Treasury yields were higher, with the two-year rate up 6.1 basis points at 4.27% and the 10-year rate rising 4.5 basis points to 4.61%.Official data on Tuesday are expected to show that the consumer price index dropped 0.1% in June on a sequential basis and rose 3.8% annually, according to a Bloomberg-compiled consensus. Wall Street is projecting core CPI, which excludes volatile items such as food and energy, to rise 0.2% month over month and 2.9% annually.The Federal Reserve may have to consider raising interest rates if inflation remains high, Fed Governor Christopher Waller said Monday."If we get another hot reading on core inflation this week, then the (Federal Open Market Committee) will need to consider tightening monetary policy in the near term," Waller said in a speech in New York. "We are at a crossroads for policy, and the appropriate action will depend on incoming data."There's a 59% likelihood that the Fed will keep its monetary policy unchanged later this month, down from 74% a week ago, according to the CME FedWatch tool. The odds of a 25-basis-point rate increase moved to 41% on Monday from about 26% a week earlier.The S&P 500 is heading into the second-quarter reporting cycle with consensus earnings growth projections at their highest in recent quarters, Oppenheimer Asset Management said Monday in a report.US banking giants JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC), Morgan Stanley (MS), and Citigroup (C) are expected to report their quarterly results later this week. Johnson & Johnson (JNJ), UnitedHealth (UNH) and Netflix (NFLX), among others, also report this week.First Hawaiian (FHB) agreed to acquire TriCo Bancshares (TCBK) in an all-stock deal to create one of the largest banks headquartered in the western US, with combined assets of about $34 billion. First Hawaiian shares fell 3.3%, while TriCo jumped 12%.Gold fell 2.6% to $4,005.10 per troy ounce, while silver lost 3.9% to $57.83 per ounce.

Dow JonesNasdaq CompositeS&P 500$BAC$C$FHB$GS$JNJ$JPM$MS$NFLX$TCBK$UNH$WFC
Paramount, Warner Bros. Face Multistate Lawsuit Seeking to Block Merger
US Markets

Paramount, Warner Bros. Face Multistate Lawsuit Seeking to Block Merger

Paramount Skydance's (PSKY) proposed acquisition of fellow media and entertainment giant Warner Bros. Discovery (WBD) is facing a multistate lawsuit in the US alleging that the roughly $110 billion deal would lessen competition in several areas.Earlier this year, Paramount entered into an agreement to buy Warner Bros. after streaming giant Netflix (NFLX) withdrew from its proposed deal to purchase the HBO Max owner.A coalition of 12 state attorneys general filed the lawsuit in the US District Court for the Northern District of California, led by California Attorney General Rob Bonta, seeking to block the deal. The complaint alleges that the transaction violates the Clayton Act, which holds that mergers that may significantly reduce or tend to create a monopoly are illegal.The deal seeks to combine two of Hollywood's five major film distributors and two of the five major basic cable channel owners. In the US alone, the merged entity would control almost one-third of theatrical motion pictures and one-third of basic cable programming, according to the lawsuit."The unlawful merger of these two entertainment behemoths would lead to higher prices, lower quality, and less content for film and television, harming movie theaters, basic cable distributors, and ultimately, audiences on every sofa and movie theater seat in the US," Bonta said in a statement Monday.The lawsuit includes the attorneys general of Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, and Washington.Paramount vowed to "vigorously defend" the transaction against what it termed a "fundamentally flawed application of the antitrust laws" designed to block a combination meant to better compete with dominant platforms like Netflix, a Paramount spokesperson said in a statement.Competition and foreign direct investment regulators across 24 global jurisdictions have already cleared the deal, according to the statement.Warner Bros. didn't immediately respond to' request for comment.Paramount shares were up 2.2% in Monday late-afternoon trade, while Warner Bros. gained 2.4%. Netflix was 1% higher.The European Commission is reviewing the deal and has set a July 22 provisional deadline for its decision.Price: $9.63, Change: $+0.22, Percent Change: +2.28%

$NFLX$PSKY$WBD
Equities Fall Intraday, Oil Soars as Trump Reinstates Iranian Shipping Blockade in Hormuz
US Markets

Equities Fall Intraday, Oil Soars as Trump Reinstates Iranian Shipping Blockade in Hormuz

US benchmark equity indexes were lower intraday, while oil prices jumped as President Donald Trump said Washington was reinstating a blockade of Iranian shipping through the Strait of Hormuz amid rising tensions in the Middle East.The Nasdaq Composite was down 1.3% at 25,939.2 after midday Monday, while the S&P 500 fell 0.7% to 7,526.4. The Dow Jones Industrial Average shed 0.3% to 52,507. Among sectors, technology saw the steepest decline, while energy paced the gainers.West Texas Intermediate crude was up 7.4% at $76.72 a barrel, while Brent gained 7.5% to $81.76.The US and Iran continued to exchange airstrikes over the weekend, with Tehran targeting American military facilities across several Middle Eastern countries, news outlets reported. Iran's Islamic Revolutionary Guard Corps reportedly said it closed the crucial Strait of Hormuz until further notice, though the US military disputed the claim.The strait is open and will remain so "with or without Iran," Trump said in a social media post Monday, adding that the US was reinstating a blockade of Iranian shipping through the narrow waterway."The USA will be, from this point forward, known as 'the guardian of the Hormuz strait,' but as such, and as a matter of fairness, will be reimbursed, at the rate of 20% on all cargo shipped," Trump said.Hostilities between the US and Iran resumed recently, weeks after they signed a memorandum of understanding to end their war. The Strait of Hormuz is the world's most important chokepoint for crude flows.The growing US-Iran conflict threatens to derail the recovery of global oil inventories and further diminishes the chances of a diplomatic breakthrough, Saxo Bank said in a note.The Organization of the Petroleum Exporting Countries on Monday reduced its global oil demand growth outlook for this year while upgrading its projection for 2027.US Treasury yields were higher intraday, with the two-year rate up 5.7 basis points at 4.27% and the 10-year rate rising 4.5 basis points to 4.61%.In company news, First Hawaiian (FHB) agreed to acquire TriCo Bancshares (TCBK) in an all-stock deal to create one of the largest banks headquartered in the western US, with combined assets of about $34 billion. First Hawaiian shares were down 4%, while TriCo jumped 11%.US banking giants JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC), Morgan Stanley (MS), and Citigroup (C) are expected to report their latest quarterly financial results later this week, along with other major corporations, including Johnson & Johnson (JNJ), UnitedHealth (UNH) and Netflix (NFLX).Gold fell 2.7% to $4,004.80 per troy ounce, while silver lost 3.7% to $57.92 per ounce.

Dow JonesNasdaq CompositeS&P 500$BAC$C$FHB$GS$JNJ$JPM$MS$NFLX$TCBK$UNH$WFC
Netflix' Ad Revenue Set to Double This Year Despite Engagement Concerns, Wedbush Says
US Markets

Netflix' Ad Revenue Set to Double This Year Despite Engagement Concerns, Wedbush Says

Netflix (NFLX) remains on track to roughly double its advertising revenue this year even as US engagement appears to have flattened out, Wedbush Securities said Monday in note.The brokerage reiterated its outperform rating on the stock, with a price target of $118, ahead of the streaming giant's second-quarter results due out on Thursday.Wedbush projects revenue of $12.58 billion, largely in line with consensus estimates, and earnings per share of $0.78, just shy of Wall Street's $0.79 view."Higher ad load, better targeting after bringing the ad stack in-house, and live-sports pricing power are set to roughly double ad revenue in 2026 toward ($3 billion)," Wedbush analyst Alicia Reese wrote.Netflix's first-quarter results rose year-on-year in April, buoyed by stronger-than-projected membership growth, higher pricing and increased ad revenue.But Wedbush pointed to certain bearish arguments, including US engagement plateauing and a drop in cost per thousand impressions."Premium CPMs are stepping down as supply grows, but not because advertisers are pulling back," Reese wrote. "The ad business is quietly doing more work than that (headline) CPM decline suggests."The stock has plunged roughly 40% since the release of first-quarter results, which coincided with the announcement on chairman Reed Hastings' departure from the board, Reese said.Wedbush' $118 price target "reflects our view that the advertising ramp outweighs the engagement debate," the analyst said.Price: $74.91, Change: $+1.54, Percent Change: +2.10%

$NFLX
Wire

Netflix to Gain From Ads, Stronger Content, Margin Growth, Oppenheimer Says

Netflix (NFLX) could benefit from better ad pricing, a stronger content lineup in H2, higher-than-expected margins and lower churn than investors fear, Oppenheimer said in a note emailed Monday.Netflix's current share price already reflects near-term pressure from lower ad monetization and customers moving to cheaper plans, Oppenheimer said, while adding that matching rivals' average ad prices could add about $4 billion in revenue, while closing the revenue gap between ad-supported and standard plans could create an $11.6 billion opportunity.Oppenheimer expects viewing to improve as Netflix plans 104 releases in H2, including 30 new seasons or sequels tied to earlier successful shows and films, while concerns about cancellations appear overstated because the firm's survey found far more customers were watching more Netflix content than those watching less.Netflix's 2026 margin forecast may be cautious, and operating income in 2027 and 2028 could come in about 4% above current market expectations, according to the note.Oppenheimer kept its outperform rating for Netflix and cut its price target to $100 from $120.Price: $74.94, Change: $+1.57, Percent Change: +2.13%

$NFLX
Wire

Netflix Seen Getting More Growth From Advertising Despite Engagement Concerns, Wedbush Says

Netflix (NFLX) is seeing its advertising business become a stronger growth driver despite concerns over slowing user engagement, with advertising revenue remaining on track to roughly double in 2026 to about $3 billion, Wedbush analysts said in a Monday note.The firm said higher advertising load, improved targeting following Netflix's transition to its in-house advertising platform and premium pricing for live sports inventory continue to support advertising revenue growth.Wedbush's latest US survey found the advertising-supported tier became stickier than premium plans for the first time, with subscribers showing higher intent to remain on the service.The firm also said March price increases appear to have caused only light churn in Q2, which should be more than offset by higher average revenue per member and continued improvements in Netflix's advertising strategy.The note said viewing hours per subscriber have softened as users spend more time on YouTube, social media and free ad-supported platforms. Wedbush said Netflix is responding by expanding into short-form video, podcasts and creator programming.Wedbush maintained its outperform rating on Netflix and its $118 price target.Price: $74.99, Change: $+1.62, Percent Change: +2.21%

$NFLX
Asia Markets

Update: US Equity Futures Drop Pre-Bell as Iran Says Strait of Hormuz Closed Once Again, Oil Prices Jump

(Updates with recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were lower pre-bell Monday as hostilities continued to re-escalate in the Middle East and Iran declared the Strait of Hormuz once again closed, driving up oil prices.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 1.2% lower.The US and Iran traded heavy missile and drone attacks over the weekend, with the US military saying they hit Iranian military facilities, while Iran's Revolutionary Guards said they had struck US installations in Bahrain, Kuwait, Oman and Jordan.Iran, which is seeking to set up a permanent fee and permit system for ships transiting the Strait of Hormuz, said Sunday that the waterway remains closed until "stability and calm" is restored.In a post on X, US Central Command said that its forces are "postured and prepared to ensure that freedom of navigation remains available to commercial shipping."Traders await a slew of earnings releases this week, including results from major US banks JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), and Citigroup (C) on Tuesday; Johnson & Johnson (JNJ), Morgan Stanley (MS), and BlackRock (BLK) on Wednesday; and Taiwan Semiconductor Manufacturing (TSM), UnitedHealth Group (UNH), GE Aerospace (GE), and Netflix (NFLX) on Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.3% at $79.27 per barrel and US West Texas Intermediate crude 4.2% higher at $74.41 per barrel.Federal Reserve board members Michelle Bowman and Christopher Waller are slated to speak on Monday.In other world markets, Japan's Nikkei closed 1.9% lower, Hong Kong's Hang Seng ended 0.2% higher, and China's Shanghai Composite finished 2.1% lower. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was flat in Europe's early afternoon session.In equities, Micron Technology (MU), AMD (AMD), and Intel (INTC) stocks were lower as part of a broader decline in the semiconductor sector. Micron shares fell 5.5%, AMD stock was down 2.9%, and Intel shares were 3.5% lower.On the winning side, the increase in oil prices lifted energy-related stocks. TotalEnergies (TTE) shares were up 1.6%, ConocoPhillips (COP) stock was 1.9% higher, and BP (BP) shares rose 1.6%. Accenture (ACN) stock was up 1% after the company said its subsidiary Accenture Capital on Friday closed the sale of five tranches of notes totaling approximately $5 billion.

Dow JonesNasdaq CompositeS&P 500$ACN$AMD$BAC$BLK$BP$C$COP$GE$GS$INTC$JNJ$JPM$MS$MU$NFLX$TSM$TTE$UNH$WFC
Japan

US Equity Futures Drop Pre-Bell as Iran Says Strait of Hormuz Closed Once Again, Oil Prices Jump

US equity futures were lower pre-bell Monday as hostilities continued to re-escalate in the Middle East and Iran declared the Strait of Hormuz once again closed, driving up oil prices.Dow Jones Industrial Average futures were down 0.1%, S&P 500 futures were down 0.3%, and Nasdaq futures were 0.9% lower.The US and Iran traded heavy missile and drone attacks over the weekend, with the US military saying they hit Iranian military facilities, while Iran's Revolutionary Guards said they had struck US installations in Bahrain, Kuwait, Oman and Jordan.Iran, which is seeking to set up a permanent fee and permit system for ships transiting the Strait of Hormuz, said Sunday that the waterway remains closed until "stability and calm" is restored.In a post on X, US Central Command said that its forces are "postured and prepared to ensure that freedom of navigation remains available to commercial shipping."Traders await a slew of earnings releases this week, including results from major US banks JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), and Citigroup (C) on Tuesday; Johnson & Johnson (JNJ), Morgan Stanley (MS), and BlackRock (BLK) on Wednesday; and Taiwan Semiconductor Manufacturing (TSM), UnitedHealth Group (UNH), GE Aerospace (GE), and Netflix (NFLX) on Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.4% at $78.59 per barrel and US West Texas Intermediate crude 3.4% higher at $73.88 per barrel.Federal Reserve board members Michelle Bowman and Christopher Waller are slated to speak on Monday.

Dow JonesNasdaq CompositeS&P 500$BAC$BLK$C$GE$GS$JNJ$JPM$MS$NFLX$TSM$UNH$WFC
Equity Futures Down Amid Middle East Tensions; Key Earnings on Deck
US Markets

Equity Futures Down Amid Middle East Tensions; Key Earnings on Deck

The benchmark US equity measures were pointing lower before the opening bell Monday amid rising tensions in the Middle East, as markets awaited key inflation data and some major corporate earnings due later this week.The S&P 500 declined 0.4% and the Nasdaq was off 1.2% in premarket activity, while the Dow Jones Industrial Average lost 0.1%. The three main indexes closed higher Friday.The US and Iran continued to exchange airstrikes over the weekend, news outlets reported.On Sunday, the US Central Command said it completed a new wave of strikes against Tehran at multiple locations, after conducting attacks a day earlier in response to the country targeting another commercial ship transiting through the Strait of Hormuz.Iran responded by targeting US military facilities in Jordan, Kuwait, Bahrain, Qatar and Oman, according to local state media. Iran's Islamic Revolutionary Guard Corps also reportedly said it closed the strait until further notice, though the US military disputed the claim."The Strait of Hormuz is open to all vessels seeking to lawfully transit the international waterway," CENTCOM said on the X platform. "Iran does not control the strait."West Texas Intermediate crude oil was up 3.4% at $73.81 a barrel before the open, while Brent gained 3.3% to $78.50.With no major economic data scheduled for Monday, traders await the official US consumer price index for June, scheduled for Tuesday, followed by data on wholesale prices and retail sales for the same month on Wednesday and Thursday, respectively.Federal Reserve Vice Chair for Supervision Michelle Bowman is scheduled to speak at 5:25 am ET Monday, while Fed Governor Christopher Waller speaks at 12:30 pm. Fed Chair Kevin Warsh's testimony is due later in the week.US Treasury yields were mixed in premarket action Monday, with the 10-year rate little changed at 4.57% and the two-year rate rising one basis point to 4.22%.Banking giants JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC), Morgan Stanley (MS), Citigroup (C) are all expected to release their latest financial results later this week, along with other major corporations, including Johnson & Johnson (JNJ), UnitedHealth (UNH) and Netflix (NFLX).Taiwan Semiconductor Manufacturing's (TSM) US-listed shares were up 0.1% pre-bell. Micron Technology (MU) fell 5.6%, while Nvidia (NVDA) decreased 1.7%.Gold dipped 0.9% to $4,075 per troy ounce, while bitcoin dropped nearly 2% to $62,893.

Dow JonesNasdaq CompositeS&P 500$BAC$C$GS$JNJ$JPM$MS$MU$NFLX$NVDA$TSM$UNH$WFC
Japan

US Equity Markets End Higher Amid Broad Rally, US-Iran Diplomatic Progress

US equity indexes closed higher Friday amid a broad-based rally after the US and Iran displayed progress in resolving the conflict diplomatically.* Talks between the US and Iran over a permanent peace deal are continuing, Bloomberg reported, citing an American official. The US is still committed to finding a diplomatic solution with Iran, the official told Bloomberg on Thursday.* Meanwhile, President Trump said Tehran and the US agreed to continue talks, but he communicated to Iran that the ceasefire is "over," Al Jazeera reported, citing a social media post from the president.* August West Texas Intermediate crude oil fell $0.46 to settle at $71.62 per barrel, while September Brent crude, the global benchmark, was last seen down $0.22 at $76.08.* Meta Platforms (META) shares were up about 5.8%, the top gainer on the S&P 500 and the Nasdaq, after a Bloomberg report, citing CEO Mark Zuckerberg, said the company is considering renting out some of its artificial intelligence compute as demand for AI infrastructure surges.* Netflix (NFLX) is in early talks to buy film-focused social platform Letterboxd, which has been exploring a sale, Variety reported Friday, citing an earlier Puck report. Shares were down about 2.9%, among the worst performers on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$META$NFLX
Sectors

Sector Update: Consumer Stocks Rise Late Afternoon

Consumer stocks were higher late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.5%.In corporate news, IHeartMedia (IHRT) agreed to a consent decree with the Federal Communications Commission to settle an investigation into its compliance with federal payola rules, the agency said Thursday. IHeartMedia shares were up 1.2%.WD-40 (WDFC) shares jumped over 11%. The company upgraded its full-year outlook after opting to retain its Americas homecare and cleaning businesses and reported higher fiscal Q3 results.Netflix (NFLX) is in early talks to buy film-focused social platform Letterboxd, which has been exploring a sale, Variety reported Friday, citing an earlier Puck report. Shares were down 2.8%.Tesla's (TSLA) profit per vehicle has dropped 40% for fiscal 2025 due to a slowdown in electric vehicle demand and US tariffs, Nikkei Asia reported Friday, citing its own analysis. Tesla shares were up 0.9%.

$IHRT$NFLX$TSLA$WDFC
Sectors

Sector Update: Consumer Stocks Rise Friday Afternoon

Consumer stocks were higher Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.8%.In corporate news, WD-40 (WDFC) shares jumped over 10%. The company upgraded its full-year outlook after opting to retain its Americas homecare and cleaning businesses and reported higher fiscal Q3 results.Netflix (NFLX) is in early talks to buy film-focused social platform Letterboxd, which has been exploring a sale, Variety reported Friday, citing an earlier Puck report. Shares were down 3.8%.Tesla's (TSLA) profit per vehicle has dropped 40% for fiscal 2025 due to a slowdown in electric vehicle demand and US tariffs, Nikkei Asia reported Friday, citing its own analysis. Tesla shares were up 0.6%.

$NFLX$TSLA$WDFC
Wire

Top Midday Stories: SK Hynix Marks Record-Setting Debut in US Market; Meta Faces $2 Billion Manus Deal Rollback

All three major US stock indexes were up in late-morning trading Friday as investors anticipated the US market debut of South Korean chipmaker SK Hynix.In company news, South Korean semiconductor company SK Hynix has listed its American depositary receipts on the Nasdaq, the company said Friday. The chipmaker set the price of its initial public offering on the Nasdaq at $149 per American depositary share and looks to raise about $26.5 billion, ranking as the largest US stock sale in history by a company based out of the US. SK Hynix sold 177.9 million ADRs, equal to 17.79 million common shares, or about 2.5% of its total issued and outstanding share capital. The offer was seven times oversubscribed, with more than 500 investment firms looking to buy shares, according to a report from the Financial Times. The offering is expected to close on Tuesday.Meta Platforms (META) is facing a major rollback of its $2 billion acquisition of artificial intelligence start-up Manus as Tencent moves to lead a deal to unwind the takeover after Beijing ordered it reversed, the Financial Times reported Friday, citing sources familiar with the talks. Tencent, together with other entities, are in talks to back a transaction at the same $2 billion valuation, with Tencent expected to take the largest stake while remaining a minority shareholder, the report said. China's move to unwind the deal marks a sharp escalation in efforts to keep leading AI firms and talent under domestic control, according to the report. Meta shares were up 6.7% around midday.Delta Air Lines (DAL) reported Q2 adjusted earnings Friday of $1.56 per diluted share, down from $2.12 a year earlier and above the FactSet consensus analyst estimate of $1.49. Total operating revenue for Q2 was $19.76 billion, up from $16.65 billion a year earlier and above the FactSet consensus of $17.55 billion. For 2026, the airline reaffirmed its previous guidance of EPS of $6.50 to $7.50. Analysts polled by FactSet expect $6.00. "We delivered $1.4 billion in pre-tax profit while absorbing the highest quarterly fuel expense in our history, reflecting broad demand strength, growing brand preference and momentum across our diversified revenue base," Chief Executive Ed Bastian said in a statement. Adjusted total revenue per available seat mile climbed 12% in the second quarter, with gains across all regions. Passenger revenue rose 13% to $15.61 billion, while cargo revenue jumped 39%. Delta shares were down 2.2%.Circle Internet Group (CRCL) has obtained approval from the Office of the Comptroller of the Currency to establish First National Digital Currency Bank, which will operate under the name Circle National Trust, the stablecoin issuer said Friday. The company said the national trust bank charter strengthens the federally regulated custody infrastructure supporting USD Coin (USDC-USD), with reserve management planned as a future capability. As a federally regulated national trust bank, Circle National Trust will operate under direct OCC oversight and combine digital asset infrastructure with the fiduciary responsibilities of national trust banks in safeguarding client assets. Circle shares were up 5.9%.Netflix (NFLX) is exploring live television channels and bundling rival streaming services aiming to revive subscriber engagement, The Wall Street Journal reported Friday. Netflix has discussed adding continuously streaming genre-based channels and selling subscriptions to other streaming platforms, including Comcast's Peacock, through its app, the report said. The company has also expanded lower-cost content offerings and is pursuing partnerships such as its deal with French broadcaster TF1, while exploring similar agreements in Europe and Latin America, according to the report. Netflix shares were down 3.1%.Price: $674.61, Change: $+43.13, Percent Change: +6.83%

$CRCL$DAL$META$NFLX
Wire

Market Chatter: Netflix, Other Media Companies Eye Letterboxd Sale

Netflix (NFLX) is in early talks to acquire film-focused social platform Letterboxd, which has been exploring a sale, Variety reported Friday, citing an earlier Puck report.The report said other potential suitors include Sony (SONY) Pictures Entertainment, Paramount Skydance (PSKY), private equity firm TPG (TPG) and Reddit (RDDT) co-founder Alexis Ohanian.Letterboxd, which has more than 30 million members worldwide, is reportedly being marketed at a valuation of about $250 million.Netflix, Paramount Skydance, Sony, TPG and Reddit 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.)Price: $73.18, Change: $-2.30, Percent Change: -3.04%

$NFLX$PSKY$RDDT$SONY$TPG
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.8%.Redbook US same-store sales rose by 11.5% from a year earlier in the week ended July 4 after a 10.5% year-over-year increase in the previous week. "Significant nationwide temperature increases, combined with Independence Day promotions, led to increased demand for summer merchandise and brought more shoppers into air-conditioned stores," Redbook noted.In corporate news, Netflix (NFLX) has entered multiple deals with digital publishers, including The Hollywood Reporter, BuzzFeed, Conde Nast, and other Penske Media's PMX brands to bring content from these publishers to the US and other regions like the UK, Ireland, Canada, and New Zealand, media outlets reported. Netflix shares increased 0.4%.Rivian Automotive (RIVN) shares fell past 17% after the electric vehicle maker launched a stock offering, even as it issued a Q2 revenue estimate that exceeded market expectations.Walmart (WMT) and Sam's Club lowered prices on "thousands" of essentials and groceries as part of a summer rollback effort, Walmart said late Monday. Walmart shares rose 0.8%.O'Reilly Automotive's (ORLY) potential acquisition of Genuine Parts' (GPC) NAPA business could deliver upside, but the benefits could be outweighed by challenges, including how different the international and independent businesses are from O'Reilly's core operations, Truist Securities said Tuesday. Truist maintained a buy rating on O'Reilly with a $108 price target. O'Reilly shares added 2.7%.

$NFLX$ORLY$RIVN$WMT
Sectors

Sector Update: Consumer

Consumer stocks were mixed late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.8%.In corporate news, Netflix (NFLX) has entered multiple deals with digital publishers, including The Hollywood Reporter, BuzzFeed, Conde Nast, and other Penske Media's PMX brands to bring content from these publishers to the US and other regions like the UK, Ireland, Canada, and New Zealand, media outlets reported. Netflix shares were up 0.5%.

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Wire

Netflix to Launch Interactive Horror Game 'Unhinged'

Netflix (NFLX) said Tuesday it will launch Unhinged, an interactive horror game developed by its Night School Studio, on June 30.Players can use their smartphones as controllers by scanning a quick-response, or QR code onscreen, with phone movements controlling the character's actions, according to a statement. The game includes a story mode and a standard mode featuring timed survival challenges, the company said.Unhinged will be available exclusively through Netflix Games with no ads or in-game purchases, the company added.Price: $73.05, Change: $+0.17, Percent Change: +0.23%

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