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Procter & Gamble Company (PG) has an average rating of overweight and mean price target of $159.81, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
(Updates with market moves at the end of the day and the Fed decision.)US stocks slid Wednesday after the Federal Reserve left interest rates unchanged in a divided decision, with some policymakers calling for policy tightening.The Dow Jones Industrial Average tumbled 2.2% to close at 51,594.14 after a three-day advance, while the Nasdaq Composite dropped 1.7% to 24,442.94, extending its losing streak to a sixth day. The S&P 500 shed 1.5% to settle at 7,316.15, its first decline in the past four sessions.Most sectors were in the red, led by industrials, while energy paced the gainers.The US central bank's Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%, marking its fifth consecutive pause. Three regional Fed presidents dissented from the majority at the meeting, with Beth Hammack of Cleveland, Neel Kashkari of Minneapolis and Lorie Logan of Dallas preferring to raise interest rates by a quarter percentage point, the FOMC said Wednesday."With further upside risks stemming from the ongoing conflict overseas, several Fed members appear willing to raise rates, or at least increasingly aware of the dangerous nature of leaving a lower level of policy in place," Stifel said in a note.Treasury yields were mixed, with the two-year rate down 3.7 basis points at 4.24% and the 10-year rate surging 6.7 basis points to 4.67%.In commodities, West Texas Intermediate crude oil increased 6.8% to $84.63 a barrel in late Wednesday afternoon trade, while Brent gained 7.6% to $90.48.President Donald Trump reportedly told Fox News that the US will hit Iran hard after its Revolutionary Guard launched ballistic missiles at US forces.Switching to the corporate sector, VF (VFC) plunged 17% after the apparel and footwear company reported a wider-than-expected fiscal first-quarter loss.Procter & Gamble (PG) fell 1.9%. The consumer goods giant reported weaker-than-expected fiscal fourth-quarter sales and said higher costs could weigh on its fiscal 2027 earnings.Tech stocks were among notable gainers, with Salesforce (CRM) up 3.8%, the top performer on the Dow. Cognizant Technology (CTSH) jumped 11%, the third-best performer on the S&P 500. Workday (WDAY) and Intuit (INTU) also logged gains.Gold rose 0.5% to $4,050.46 per troy ounce, while silver gained 0.1% to $57.57 per ounce.
Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.3%.In corporate news, Wingstop (WING) reported stronger-than-expected fiscal Q2 earnings and reiterated its global unit growth outlook. Its shares gained 3.5%.Netflix (NFLX) is paying $200 million for the broadcast rights to the 2027 Women's World Cup, Bloomberg reported. Netflix shares rose 1.3%.Ford (F) shares climbed 3.1% after the carmaker lifted its full-year core profit outlook, while it also reported an unexpected year-over-year increase in its Q2 earnings and recorded revenue above market estimates.Procter & Gamble's (PG) fiscal Q4 revenue fell short of market estimates, while the consumer goods giant said higher costs could weigh on its fiscal 2027 earnings. Its shares fell 2.7%.VF (VFC) shares fell past 17% after the apparel and footwear company reported a wider-than-expected fiscal Q1 loss despite topping Wall Street's revenue estimates.
US benchmark equity indexes fell intraday as traders awaited the Federal Reserve's policy decision and after-hours results from Microsoft (MSFT) and Meta Platforms (META).The Dow Jones Industrial Average was down 1.5% at 51,977.6 after midday Wednesday. The S&P 500 and the Nasdaq Composite fell 0.7% each, to 7,378.4 and 24,698.9, respectively. Most sectors were in the red, with industrials posting the biggest drop.The Federal Open Market Committee will announce its latest decision on interest rates at 2 pm ET. The probability of the central bank leaving its benchmark lending rate unchanged was at about 69% on Wednesday, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.Fed Chair Kevin Warsh is scheduled to hold a press conference at 2:30 pm."One way or another -- including, perhaps, through dissent - the Fed's emerging tightening bias will find its way into the market today or in the next few days," Macquarie said in a report Wednesday. "That bias may not be clear in the text of today's Statement, but Warsh's presser and the various speeches and appearances by Fed officials in the next few days are likely to solidify a tightening bias that was already evident -- even the FOMC's "doves" -- prior to the blackout period."Microsoft and Meta, among others, report their financials after market close on Wednesday.For Microsoft, analysts are looking for about 15% year-over-year revenue growth in the fiscal fourth quarter, according to the FactSet-polled consensus.Meta is expected to report strong second-quarter results as improvements in advertising performance continue to drive spending by advertisers, Deutsche Bank said in a note Friday.West Texas Intermediate crude oil increased 6.8% to $84.63 a barrel intraday, while Brent gained 7.6% to $90.48.President Donald Trump reportedly told Fox News that the US will hit Iran hard after its Revolutionary Guard launched ballistic missiles at US forces.Treasury yields were higher intraday, with the two-year rate up 5.5 basis points at 4.33% and the 10-year rate rising 4.3 basis points to 4.65%.Elsewhere in the corporate sector, Procter & Gamble (PG) fell 2.7% and was among the worst performers on the Dow. The consumer goods giant reported weaker-than-expected fiscal fourth-quarter sales and said higher costs could weigh on its fiscal 2027 earnings.Tech stocks were among notable gainers intraday, with Salesforce (CRM) up 3.9%, the top performer on the Dow. Cognizant Technology (CTSH) jumped 11%, the second-best performer on the S&P 500. Workday (WDAY) and Intuit (INTU) also logged gains.Gold rose 0.2% to $4,106.20 per troy ounce, while silver gained 1% to $58.11 per ounce.Price: $395.74, Change: $+2.39, Percent Change: +0.61%
Consumer stocks were higher Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.2%.In corporate news, Ford (F) shares gained 3.7% after the carmaker lifted its full-year core profit outlook, while it also reported an unexpected year-over-year increase in its Q2 earnings and recorded revenue above market estimates.Procter & Gamble's (PG) fiscal Q4 revenue fell short of market estimates, while the consumer goods giant said higher costs could weigh on its fiscal 2027 earnings. Shares fell 2.5%.VF (VFC) shares fell past 18% after the apparel and footwear company reported a wider-than-expected fiscal Q1 loss despite topping Wall Street's revenue estimates.
Procter & Gamble (PG) said Wednesday Executive Chairman Jon Moeller will retire from the board effective July 31, and from the company Aug. 14.The company said it has appointed Shailesh Jejurikar as board chairman, effective Aug. 1, in addition to his role as president and chief executive officer.Price: $145.52, Change: $-3.36, Percent Change: -2.26%
Procter & Gamble's (PG) fiscal fourth-quarter revenue fell short of market estimates on Wednesday, while the consumer goods giant said higher costs could weigh on its fiscal 2027 earnings.Sales improved 2% year on year to $21.2 billion, but trailed Wall Street's $21.38 billion view. Volume and pricing were both flat in the June quarter, and so were organic sales on a yearly basis.Adjusted earnings fell to $1.43 a share from $1.48 the year before, but topped the FactSet-polled consensus of $1.41.The stock declined 2.9% in Wednesday trade.For fiscal 2027, the maker of Crest toothpaste and Pampers anticipates adjusted EPS of $6.89 to $7.11, reflecting a range of flat to 3% growth from the previous year's $6.89 figure. The company forecasts a headwind of $0.56 per share on the bottom line due to factors including higher raw materials, energy and transportation costs. The Street is looking for non-GAAP EPS of $7.02."Fiscal 2026 was a year of foundation building while continuing to grow sales and profit and return high levels of cash to shareowners despite a very challenging geopolitical and economic environment," Chief Executive Shailesh Jejurikar said in a statement. "In fiscal 2027, we expect to deliver progress on each of these key measures despite continued volatility."Sales are pegged to rise by 1% to 3% for the ongoing fiscal year, compared with a 3% increase recorded in the year just ended. The average analyst estimate is for $89.4 billion.Deutsche Bank expected Procter & Gamble's guidance to reflect continued macro uncertainty, uneven global demand trends, geopolitical risk and commodity volatility."Even so, (Procter & Gamble) enters (fiscal 2027) with more company-specific self-help than it had entering (fiscal 2026), as market interventions, portfolio simplification, restructuring actions, and productivity initiatives continue to scale," Deutsche Bank analyst Steve Powers wrote in a note earlier this month.Beauty revenue gained 6% year over year in the quarter to $3.98 billion, while sales in the baby, feminine and family care business ticked down 1% to $5.05 billion.In a separate statement, Procter & Gamble said it appointed Jejurikar to the additional role of chairman, effective Aug. 1. Executive Chairman Jon Moeller will retire from the board at the end of July and from the company on Aug. 14.
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Wednesday as hostilities between the US and Iran resumed after a two-day pause and oil prices jumped.Dow Jones Industrial Average futures were 0.7% lower, S&P 500 futures were down 0.1, and Nasdaq futures were 0.2% lower.US Central Command said in a post on X that Iran's Islamic Revolutionary Guard Corps launched missiles in an "attempted surprise attack" on US forces, which an Axios correspondent said was directed at a US base in Jordan. In a subsequent post, the command said that US and Saudi Arabian forces hit "Iran-aligned terrorists" in Iraq in response to more than 30 Iran-directed drone attacks in the last 72 hours.Microsoft (MSFT) and Meta Platforms (META) are expected to report their fiscal Q4 and Q2 earnings, respectively, after the market closes. For Microsoft, analysts polled by FactSet expect earnings of $4.24 per share on revenue of $87.62 billion. For Meta, analysts expect earnings of $7.19 per share on revenue of $60.22 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 6.4% at $89.49 per barrel and US West Texas Intermediate crude 6.2% higher at $84.15 per barrel.The Federal Open Market Committee is expected to maintain the range for its federal funds rate at the current 3.50% to 3.75% for the fifth straight meeting, with the CME's FedWatch Tool seeing a 68.5% chance of no change to the current target range and a 31.5% chance of a 25-basis point increase to 3.75% to 4.00%.The FOMC's statement following the meeting is due to be released at 2:00 pm ET, with Federal Reserve Chairman Kevin Warsh's press conference scheduled to begin at 2:30 pm ET.In other world markets, Japan's Nikkei closed 1.5% lower, Hong Kong's Hang Seng ended 2% higher, and China's Shanghai Composite finished 0.4% higher. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, energy-related stocks were on the upswing as oil prices increased. Exxon Mobil (XOM) shares rose 2.1%, Chevron (CVX) stock was 2% higher, and TotalEnergies (TTE) shares were up 2.2%. Seagate Technology (STX) stock was up 5.7% after the company reported fiscal Q4 adjusted earnings and revenue that surpassed analysts' estimates, as well as issuing a better-than-expected fiscal Q1 outlook.On the losing side, Visa (V) shares were down 2.2% despite posting a fiscal Q3 adjusted earnings and revenue beat. Procter & Gamble (PG) stock was down 3.1% after the company reported fiscal Q4 net sales that fell short of analysts' consensus. KLA (KLAC) shares fell 8.9% despite posting fiscal Q4 non-GAAP earnings and revenue that beat analysts' estimates.
The main US stock measures were mostly trending higher in Wednesday's premarket activity as traders await a major policy decision by the Federal Reserve and the latest quarterly results of two of the largest technology companies.The S&P 500 rose 0.2% and the Dow Jones Industrial Average edged up 0.1% before the opening bell, while the Nasdaq declined 0.1%. The S&P 500 and the Dow finished Tuesday trading in the green, with the latter recording its third consecutive day of gains, while the Nasdaq closed lower for the fifth straight session.The Fed's monetary policy committee will announce its latest decision on interest rates at 2 pm ET. The probability of the central bank leaving its benchmark lending rate unchanged stood at about 66% on Wednesday, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.Fed Chair Kevin Warsh is expected to hold a press conference at 2:30 pm."The doves are optimistic that inflation could cool further into year-end as the impact of tariffs rolls off and energy prices stabilize," Stifel said in a report Tuesday. "The recent rise in tensions overseas, however, coupled with (artificial intelligence)-sector price pressures suggest further upside inflationary risks remain, shifting the pendulum back into the hawk's camp."Treasury yields were up in premarket action, with the two-year rate increasing 2.9 basis points to 4.31% and the 10-year rate adding 1.6 basis points to 4.62%.Iran's Islamic Revolutionary Guard Corps launched multiple ballistic missiles in "an attempted surprise attack" on US forces based in the Middle East, the US Central Command said in a Tuesday post on the X platform. "All Iranian missiles were successfully intercepted," according to CENTCOM.In a separate statement, CENTCOM said it launched joint strikes with the Saudi Arabian armed forces against "Iran-aligned terrorists" in Iraq on Tuesday.West Texas Intermediate crude oil inclined 3.7% to $82.03 a barrel before the open, while Brent advanced 3.7% to $87.16.Microsoft (MSFT) and Meta Platforms (META) are scheduled to release their latest financial results after the markets close, along with Arm Holdings (ARM), Qualcomm (QCOM) and Starbucks (SBUX).Procter & Gamble (PG), Amphenol (APH), General Dynamics (GD), Johnson Controls (JCI), Boston Scientific (BSX), Humana (HUM) and GE HealthCare Technologies (GEHC) post their earnings before the bell, among others.Shares of Visa (V) decreased 0.8% pre-bell after the payments company reported its fiscal third-quarter results. Ford Motor (F) gained 4.3% as the automaker lifted its full-year core profit outlook. Lucid Group (LCID) was down 0.8% following a 21% jump at the close of Tuesday as Saudi Prince Alwaleed Bin Talal Al Saud disclosed a 5% stake in the company.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am, followed by the EIA domestic petroleum inventories report at 10:30 am.Gold slipped 0.2% to $4,032 per troy ounce, while bitcoin rose 1.4% to $64,588.
(Updates with market moves at the end of the day.)US stocks ended mixed in what turned out to be a choppy session on Monday as oil prices tumbled, with investors awaiting the Federal Reserve's monetary policy decision and major earnings releases.The Dow Jones Industrial Average rose 0.5% to 52,210.08, while the Nasdaq Composite edged down 0.2% to 24,932.08. The S&P 500 settled just above the flatline at 7,413.18. Most sectors were in the green, led by consumer staples, while energy saw the steepest decline.West Texas Intermediate crude oil was down 8% at $82.19 a barrel in Monday late-afternoon trade, while Brent slumped 9.2% to $87.90.US President Donald Trump told Axios on Monday that the US is in "very deep talks" with Iran, though he said military action could resume if diplomacy fails. His remarks came as the US apparently halted strikes against Iran.Oman is conducting talks with Iran, but Qatar, Pakistan and Egypt are also actively involved in the process, Axios reported."While this is the first tangible signal of de-escalation, the reasons behind it are less clear," ING Bank said in a report. "There's little explanation from the US. Also, it hasn't yet led to any meaningful pickup in vessel flows through the Strait of Hormuz."Treasury yields were lower, with the 10-year rate down 3.2 basis points at 4.65% and the two-year rate falling 1.1 basis points to 4.35%.The Federal Open Market Committee kicks off its two-day policy meeting on Tuesday, with a decision on interest rates due the following day. The probability of the central bank leaving its benchmark lending rate unchanged currently stands at 62%, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.UBS Securities expects three dissents as a base case, but said it won't be surprised to see two more pushing for a rate hike.Tech giants Microsoft (MSFT), Apple (AAPL), Amazon (AMZN) and Meta Platforms (META) are scheduled to release their latest financial results later this week, along with Visa (V), Mastercard (MA), ExxonMobil (XOM), Coca Cola (KO), Procter & Gamble (PG), Qualcomm (QCOM) and Boeing (BA).In company news, Nvidia (NVDA) has agreed to expand its partnership with South Korean conglomerate SK Group through an artificial intelligence infrastructure initiative expected to be worth more than $500 billion. The deal includes a long-term partnership between Nvidia and SK Hynix (SKHY) that will provide the US technology giant a stable supply of next-generation AI memory.Nvidia's shares dropped 5%, the worst performer on the Dow, while SK Hynix slumped 7.5%.TransDigm Group (TDG) agreed to acquire specialty metal maker Prince & Izant from private equity firm Industrial Growth Partners for about $1.07 billion in cash. TransDigm shares advanced 4%.Gold edged up 0.3% to $4,083.90 per troy ounce, while silver lost 0.2% to $58.80 per ounce.
(Updates with latest market prices and developments.)US stocks were mixed intraday amid a sharp pullback in oil prices, as traders prepared for the Federal Reserve's policy decision and mega-cap earnings reports later in the week.The Nasdaq Composite was down 0.6% at 24,834.6 after midday Monday, while the S&P 500 fell 0.3% to 7,390.2. The Dow Jones Industrial Average rose 0.2% to 52,031.4. Among sectors, communication services paced the gainers, while technology saw the steepest decline.West Texas Intermediate crude oil dropped 7.5% to $82.61 a barrel, while Brent slumped 8% to $89.09.US President Donald Trump told Axios on Monday that the US is in "very deep talks" with Iran, though he said military action could resume if diplomacy fails. His remarks came as the US apparently halted strikes against Iran.The US military struck Iran for the 13th straight night on Thursday, with Iran launching its retaliatory attacks across Gulf states. There hasn't been an announcement on fresh US strikes since then.Oman is conducting talks with Iran, but Qatar, Pakistan and Egypt are also actively involved in the process, Axios reported."While this is the first tangible signal of de-escalation, the reasons behind it are less clear," ING Bank said in a report. "There's little explanation from the US. Also, it hasn't yet led to any meaningful pickup in vessel flows through the Strait of Hormuz."Treasury yields were lower intraday, with the 10-year rate down 3.2 basis points at 4.65% and the two-year rate falling 1.3 basis points to 4.32%.The Federal Open Market Committee kicks off its two-day policy meeting on Tuesday, with a decision on interest rates due the following day. The probability of the central bank leaving its benchmark lending rate unchanged currently stands at 62%, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool."In our view, in the event of a rate hold there are likely to be dissents with the number hinging on the extent to which the statement language shifts in a hawkish direction," Macquarie said Monday in a report.While the firm expects no change to the federal funds rate this week, it continues to project a hike, most likely in December.Tech giants Microsoft (MSFT), Apple (AAPL), Amazon (AMZN) and Meta Platforms (META) are scheduled to release their latest financial results later this week, along with Visa (V), Mastercard (MA), ExxonMobil (XOM), Coca Cola (KO), Procter & Gamble (PG), Qualcomm (QCOM) and Boeing (BA).In company news, Nvidia (NVDA) has agreed to expand its partnership with South Korean conglomerate SK Group through an artificial intelligence infrastructure initiative expected to be worth more than $500 billion. The deal includes a long-term partnership between Nvidia and SK Hynix (SKHY) that will provide the US technology giant a stable supply of next-generation AI memory.Nvidia's shares dropped 5.2% intraday, the worst performer on the Dow, while SK Hynix slumped 9.6%.TransDigm Group (TDG) agreed to acquire specialty metal maker Prince & Izant from private equity firm Industrial Growth Partners for approximately $1.07 billion in cash. TransDigm shares rose 3.4% intraday.Gold edged up 0.2% $4,077.40 per troy ounce, while silver lost 0.2% to $58.77 per ounce.
S&P 500 companies' second-quarter earnings growth reached 70%, driven by the information technology sector, where profits nearly tripled year on year, Oppenheimer Asset Management said in a report Monday.A total of 133 companies, or 27% of the index constituents, have reported second-quarter results, with profit growth accelerating to 70% year over year from about 52% up until a week ago. Revenue growth slowed to 12.6% from 16%, according to the report.Tech earnings soared 190% annually, followed by communications services companies, which reported 168% profit growth. Technology also had the highest annual revenue increase of 45% among 11 sectors, with financials showing a 17% jump.Prior to the start of the second-quarter reporting season, FactSet-polled consensus estimates projected S&P 500 earnings growth of nearly 24% year over year, Oppenheimer said.Another 169 S&P 500 companies are scheduled to report results this week, including four of the so-called Magnificent 7 companies Microsoft (MSFT), Meta Platforms (META), Apple (AAPL) and Amazon (AMZN).ExxonMobil (XOM), Visa (V), Mastercard (MA), AbbVie (ABBV), Chevron (CVX), Coca-Cola (KO) and Procter & Gamble (PG) also report this week."Looking at current valuations and the current earnings season, more factors appear to be getting better than getting worse," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said.Oil prices slid Monday as President Donald Trump said the US and Iran were in talks. However, crude has rallied this month due to the apparent collapse of a preliminary US-Iran peace deal.Escalated tensions between the two nations sent the 10-year Treasury yield to 4.68% last week, the highest level since January 2025, Stoltzfus said.Price: $391.06, Change: $+9.36, Percent Change: +2.45%
US equity futures rose pre-bell Monday as oil prices declined amid a pause in hostilities between the US and Iran over the weekend.Dow Jones Industrial Average futures were 1.1% higher, S&P 500 futures were up 0.8%, and Nasdaq futures were 1.3% higher.The US did not strike any Iranian targets on Saturday or Sunday after 13 consecutive nights of attacks. The US ambassador to the United Nations, Mike Waltz, told Fox News that President Donald Trump has halted the attacks for the meantime to allow more time for diplomacy. Iran said it will suspend its own attacks as long as the US does the same, Reuters reported Sunday, citing a senior Iranian official.Traders anticipate another round of earnings this week, kicked off by AstraZeneca (AZN), which posted higher Q2 core earnings and revenue.Microsoft (MSFT), Meta Platforms (META), Apple (AAPL), Amazon.com (AMZN), Lam Research (LRCX), and Arm (ARM) are set to release their financial results this week. Anticipated earnings also include Seagate Technology (STX), Qualcomm (QCOM), Procter & Gamble (PG), Visa (V), and Mastercard (MA).Traders also look forward to the Federal Reserve's policy session and rate statement, slated for Wednesday.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 5.2% at $86.94 per barrel and US West Texas Intermediate crude 6% lower at $83.97 per barrel.Durable goods new orders rose 0.3% in June after a 4.0% decline in the prior month, compared with expectations for a 1.8% increase in a survey compiled by Bloomberg. The Dallas Fed manufacturing survey for July will be released at 10:30 am ET.In other world markets, Japan's Nikkei closed 0.5% higher, Hong Kong's Hang Seng ended 1% higher, and China's Shanghai Composite finished 1.2% higher. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 1.6% higher in Europe's early afternoon session.In equities, energy-related stocks were on the downswing due to the drop in oil prices. Exxon Mobil (XOM) shares fell 3.4%, Chevron (CVX) stocks were down 2.7%, and Shell (SHEL) shares were 2.3% lower.On the winning side, Broadcom (AVGO) stock was up 2.1% after the company and Samsung Electronics said they signed a memorandum of understanding to expand their strategic collaboration across memory and foundry technologies to support next-generation artificial intelligence infrastructure. Advanced Micro Devices (AMD) shares rose 2.2% after a Korea Times report cited the Ministry of Science and ICT as saying that the company partnered with South Korea to establish an artificial intelligence research facility and expand computing infrastructure. Toyota Motor (TM) stock was up 1.6% after the company said it signed a binding agreement with Volvo Group and Daimler Truck to acquire a one-third stake in fuel-cell joint venture Cellcentric.
The benchmark US stock measures were pointing higher before the opening bell Monday after the US and Iran halted strikes over the weekend, while traders gear up for a busy week that includes a major policy decision by the Federal Reserve, a key inflation report and earnings.The S&P 500 and the Dow Jones Industrial Average rose 0.8% each in premarket activity, while the Nasdaq increased 1.4%. The S&P 500 and the Dow finished Friday's trading session in the green, while the Nasdaq closed lower.After 13 consecutive nights of strikes against Iran, no US attacks against Tehran were officially announced over the weekend. Iran said it will also halt its attacks as long as the US does the same, a senior Iranian official told Reuters on Sunday.West Texas Intermediate crude oil dropped 6.4% to $83.56 a barrel before the open, while Brent fell 8% to $89.06.The US ambassador to the United Nations Mike Waltz reportedly told Fox News on Sunday that President Donald Trump has paused strikes against Iran to give talks "some space."Iranian Foreign Ministry spokesman Esmail Baghaei said technical talks with Oman on the Strait of Hormuz continued over the weekend, CNBC reported.Meanwhile, Iran summoned Ukraine's charge d'affaires in Tehran on Sunday over an attack on an Iranian commercial vessel in the Caspian Sea, calling it a "hostile and criminal act," according to a separate CNBC report.The Fed's monetary policy committee is scheduled to meet on Tuesday, with a decision on interest rates due the following day. The probability the central bank will leave its benchmark lending rate unchanged currently stands at 69%, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.Traders also await the personal income and outlays report for June later in the week. The report includes the personal consumption expenditure core price index, the Fed's preferred inflation metric.Treasury yields were down in premarket action, with the two-year rate retreating 2.6 basis points to 4.31% and the 10-year rate off 3.8 basis points to 5.12%.Monday's economic calendar has the durable goods orders report for last month at 8:30 am ET, followed by the Dallas Fed manufacturing survey for July at 10:30 am.Tech giants Microsoft (MSFT), Apple (AAPL), Amazon (AMZN) and Meta Platforms (META) are scheduled to release their latest financial results later this week, along with Visa (V), Mastercard (MA), ExxonMobil (XOM), Coca Cola (KO), Procter & Gamble (PG), Qualcomm (QCOM) and Boeing (BA).Shares of Forte Biosciences (FBRX) jumped 39% pre-bell after it agreed to be acquired by Belgian-Dutch immunology firm argenx (ARGX) in a deal worth roughly $2.2 billion. AstraZeneca's (AZN) US-listed stock gained 1.4% after the company reported its latest quarterly results.Gold inclined 0.7% to $4,098 per troy ounce, while bitcoin advanced 1.1% to $65,350.
US equity futures rose pre-bell Monday as oil prices declined amid a pause in hostilities between the US and Iran over the weekend.Dow Jones Industrial Average futures were 1.1% higher, S&P 500 futures were up 0.9%, and Nasdaq futures were 1.4% higher.The US did not strike any Iranian targets on Saturday or Sunday after 13 consecutive nights of attacks. The US ambassador to the United Nations, Mike Waltz, told Fox News that President Donald Trump has halted the attacks for the meantime to allow more time for diplomacy. Iran said it will suspend its own attacks as long as the US does the same, Reuters reported Sunday, citing a senior Iranian official.Traders anticipate another round of earnings this week, kicked off by AstraZeneca (AZN), which posted higher Q2 core earnings and revenue.Microsoft (MSFT), Meta Platforms (META), Apple (AAPL), Amazon.com (AMZN), Lam Research (LRCX), and Arm (ARM) are set to release their financial results this week. Anticipated earnings also include Seagate Technology (STX), Qualcomm (QCOM), Procter & Gamble (PG), Visa (V), and Mastercard (MA).Traders also look forward to the Federal Reserve's policy session and rate statement, slated for Wednesday.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 6.5% at $85.74 per barrel and US West Texas Intermediate crude 6.8% lower at $83.23 per barrel.The June durable goods orders report is expected to show a 1.8% increase after a decline of 4.5% in the prior month, according to estimates compiled by Bloomberg. The Dallas Fed manufacturing survey for July will be released at 10:30 am ET.
Consumer stocks declined late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.9%.In corporate news, a federal judge in California on Monday granted a motion brought by 12 states for a temporary restraining order that prohibits Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD) from consummating their merger. The order remains in effect for 14 days. Paramount shares were down 1.1%, and Warner fell 3.6%.Netflix (NFLX) is returning to the US high-grade bond market for the first time since its debut two years ago, Bloomberg reported. Netflix shares shed 2.1%.Monster Beverage (MNST) shares fell 1.9% in Monday trading after Deutsche Bank downgraded the stock to hold from buy, while lifting its price target to $98 from $94.Procter & Gamble (PG) investors are bracing for the company's fiscal Q4 organic sales to fall short of Wall Street expectations, given uncertainty as to whether shipment growth in the quarter will mirror strong US consumption, UBS said in a note. Procter & Gamble shares were down 0.9%.
Consumer stocks declined Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.7%.In corporate news, Netflix (NFLX) is returning to the US high-grade bond market for the first time since its debut two years ago, Bloomberg reported. Netflix shares fell 2%.Procter & Gamble (PG) investors are bracing for the company's fiscal Q4 organic sales to fall short of Wall Street expectations, given uncertainty as to whether shipment growth in the quarter will mirror strong US consumption, UBS said in a note. Procter & Gamble shares were down 0.8%.Domino's Pizza (DPZ) reported fiscal Q2 revenue above market estimates on Monday, driven by order count growth, while the pizza restaurant chain's earnings increased year over year but missed expectations. Its shares were up 1.5%.
Consumer stocks were lower Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.6%.In corporate news, Procter & Gamble (PG) investors are bracing for the company's fiscal Q4 organic sales to fall short of Wall Street expectations, given uncertainty as to whether shipment growth in the quarter will mirror strong US consumption, UBS said in a note. Procter & Gamble shares were down 0.6%.
Procter & Gamble (PG) investors are bracing for the company's fiscal Q4 organic sales to fall short of Wall Street expectations, given uncertainty as to whether shipment growth in the quarter will mirror strong US consumption, UBS said in a Monday research note.UBS expects Q4 organic sales growth to slow down relative to Q3 and is modeling organic growth of 1.4%, compared with Wall Street estimate of 1.7%, along with earnings per share of $1.37, according to the note.Procter & Gamble's initial fiscal 2027 guidance will more or less embed similar assumptions to fiscal 2026, which have been in an uncertain, volatile environment, UBS said, adding that it expects organic sales growth of 3%, versus the Street view of 2.5%, with an earnings per share forecast of $6.98.Additionally, the company's outlook is likely to be H2 weighted as input cost pressures will be heightened in the first half as cost increases could prove to be temporary, resulting in less mitigation versus a more prolonged inflationary backdrop, UBS said.Procter & Gamble is scheduled to report its fiscal Q4 results on July 29.UBS rated the company's shares as buy with a $172 price target.Price: $149.81, Change: $-0.17, Percent Change: -0.11%
US consumer staple companies likely faced another "tricky" quarter, with earnings growth seen impacted to a certain extent by inflation, UBS Securities said in a note e-mailed Thursday.The brokerage expects second-quarter results from most of the group it covers to be "okay," analysts Peter Grom and Sona Fernandes said in a note to clients. While inflation is expected to have limited bottom-line growth "to a degree," the situation is more than reflected in Wall Street's estimates, according to the note."While we continue to believe fundamental visibility remains key to any investment case in staples, this has become increasingly priced in across the group making risk/reward far more difficult to assess on the surface," the analysts said. "This makes the setup into (second-quarter) earnings season tricky once again, but in some ways we think the playbook remains unchanged with fundamental visibility continuing to trump valuation."Coca-Cola (KO), Keurig Dr Pepper (KDP), Monster Beverage (MNST), and Colgate-Palmolive (CL) are among the major names with favorable setups heading into the latest results, according to UBS.Coca-Cola offers the "highest degree of fundamental visibility" among the group, Grom and Fernandes said. The beverages giant is poised for a strong print amid continued momentum in its top-line, according to the note.For Keurig Dr Pepper, stronger growth from US refreshment beverages is likely to continue to drive upside despite "some concerns" around the company's coffee business, the analysts said. UBS expects solid revenue momentum for Colgate-Palmolive despite input cost uncertainty linked to the Middle East conflict.While most Monster Beverage investors expect another strong quarterly print, the company will have to offer proof that it is capable of sustaining sales momentum, especially as competitive pressures mount and comparisons get tougher, according to the note.Procter & Gamble (PG), Elf Beauty (ELF), and Celsius (CELH) are among the most debated stocks, according to UBS.The brokerage sees Procter & Gamble's risk-reward profile as skewed to the upside despite an anticipated conservative fiscal 2027 outlook. Elf Beauty's core business volatility persists and "sentiment/stock performance will continue to hinge on the base business," Grom and Fernandes said.For Celsius, the latest results itself are unlikely to "meaningfully alter the debate," which is expected to be focused on whether the company's core business can show signs of stabilization, the analysts wrote.Molson Coors Beverage (TAP), Energizer (ENR), and Boston Beer (SAM) likely faced unfavorable setups due largely to deteriorating category trends, according to the note."Given scarcity of growth and (long-term) algorithms increasingly in question looking ahead, we think relative valuation is far less critical at this juncture and think companies that can outline credible avenues to deliver top- and bottom-line growth will continue to outperform," Grom and Fernandes said.Price: $84.76, Change: $+2.31, Percent Change: +2.80%
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