$SMH

21 stories mentioning SMHUpdated 34d ago

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Update: S&P 500, Dow Scale New Peaks Amid Strong Earnings Flow, Strait of Hormuz Reopening Optimism

(Updates with index/price moves and macroeconomic data from the first paragraph.)US equity indexes jumped as strong earnings helped the S&P 500 and the Dow Jones Industrial Average break records, while sliding crude oil and government bond yields reflected optimism that the Strait of Hormuz could soon reopen.The Nasdaq Composite jumped 2.6% to 26,584.99, the S&P 500 advanced 1.8% to 7,736.52, and the Dow Jones Industrial Average climbed 1.7% to 54,085.88 at the close Tuesday. Both the S&P 500 and the Dow hit their respective all-time highs of 7,758.21 and 54,272.60 earlier in the session, according to data compiled by CNBC.Technology was the standout gainer, followed by materials and industrials. Energy led decliners.Palantir Technologies (PLTR) surged more than 29%, the top gainer on the S&P 500 and the Nasdaq, after Q2 sales and adjusted earnings surpassed analysts' estimates and the company, one of the most prominent names in the artificial intelligence industry, boosted its full-year 2026 revenue outlook.VanEck Semiconductor Exchange-Traded Fund (SMH), with net assets of $77.2 billion, jumped 5.6%.Caterpillar (CAT) raised its full-year revenue outlook on Tuesday after single-quarter sales topped $20 billion for the first time. Shares jumped 5.6%, the Dow's leader.Iranian Foreign Ministry spokesman Esmaeil Baghaei said Iran and Oman are continuing talks aimed at ensuring the safe flow of traffic through the Strait of Hormuz, with discussions focused on designating safe inbound and outbound lanes, Al Jazeera, a Middle Eastern broadcaster, reported. Iran's goal in its talks with Oman "is to set temporary arrangements" - lasting up to three months - where Tehran can control a route through the strait, an official told CNN.Iran is considering allowing European nations to remove mines from the strait, a potential climbdown that could form part of a deal to normalize shipping in the waterway and ease peace negotiations with the US, Bloomberg reported. US Treasury Secretary Bessent said a deal to open the Strait could come as early as "today or tomorrow," allowing "freedom of movement" for commercial vessels, the news report said.Front-month US West Texas Intermediate crude oil sank 6% to $75.52 a barrel, and global benchmark North Sea Brent slumped 5.6% to $79.07 a barrel.US Treasury yields dropped, with the 10-year down 6.9 basis points to 4.62%. The two-year yield slid 6.2 basis points to 4.19%.Gold futures rose 1.1% to $4,134.1, and silver futures climbed 3.2% to $59.73.US job openings fell to 7.359 million in June, per the Bureau of Labor Statistics, below the 7.454 million openings expected in a Bloomberg-compiled poll and down from the 7.537 million openings reported in May. The June print represents 4.4% of total employment, lower than 4.5% in May but up from 4.3% a year ago.New orders for US factory goods slipped 0.3% in June, versus a 0.2% gain expected in a Bloomberg-compiled survey and a revised 1.1% drop in May. Excluding a 0.1% decline in transportation orders, new orders would have been down 0.4% after a 2% gain in May, compared with expectations for a 0.4% increase.Redbook US same-store sales jumped 8.7% from a year ago in the week ended Aug. 1, following an 8.3% advance in the previous week.

Dow JonesNasdaq CompositeS&P 500$CAT$PLTR$SMH

Japan35d ago

Update: US Equity Indexes Surge as Technology Leads Amid Strong Earnings While Iran Deal Optimism Pushes Crude Oil Lower

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes jumped as earnings helped propel technology to the top of sector charts, while a slide in crude oil and government bond yields reflected optimism that the Strait of Hormuz could soon reopen.The Nasdaq Composite surged 2.8% to 26,641.2, with the S&P 500 up 2% to 7,750.3 and the Dow Jones Industrial Average higher by 1.9% to 54,208.5 ahead of Tuesday's close. The S&P 500 and the Dow touched their respective 52-week highs earlier in the session. Technology was the standout gainer, followed by materials and industrials. Energy led decliners.Palantir Technologies (PLTR) surged 29%, the top gainer on the S&P 500 and the Nasdaq, after Q2 sales and adjusted earnings surpassed analysts' estimates and the company, one of the most prominent names in the artificial intelligence industry, boosted its full-year 2026 revenue outlook.VanEck Semiconductor Exchange-Traded Fund (SMH), with net assets of $77.2 billion, jumped 5.8%.Iranian Foreign Ministry spokesman Esmaeil Baghaei said Iran and Oman are continuing talks aimed at ensuring the safe flow of traffic through the Strait of Hormuz, with discussions focused on designating safe inbound and outbound lanes, Al Jazeera, a Middle Eastern broadcaster, reported. Iran's goal in its talks with Oman "is to set temporary arrangements" - lasting up to three months - where Tehran can control a route through the strait, an official told CNN.Iran is considering allowing European nations to remove mines from the strait, a potential climbdown that could form part of a deal to normalize shipping in the waterway and ease peace negotiations with the US, Bloomberg reported. US Treasury Secretary Bessent said a deal to open the Strait could come as early as "today or tomorrow," allowing "freedom of movement" for commercial vessels, the news report said.The front-month US West Texas Intermediate crude oil fell 5.7% to $75.76 a barrel, and global benchmark North Sea Brent slid 5.2% to $79.37 a barrel.US Treasury yields dropped, with the 10-year down 5.7 basis points to 4.63%. The two-year yield slid 5.4 basis points to 4.20%.

Dow JonesNasdaq CompositeS&P 500$PLTR$SMH

Asia Markets35d ago

Update: Technology Helps Push US Equity Indexes Higher Amid Earnings, Iran Deal Optimism

(Updates with index/price moves, macroeconomic data, and company news from the first paragraph.)US equity indexes rose as earnings helped boost technology, and a slide in crude oil and government bond yields added to confidence that Iran is nearing a deal to reopen the Strait of Hormuz, the chokepoint for about a fifth of global crude oil and natural gas flows.The Nasdaq Composite jumped 2.4% to 26,539.5, with the S&P 500 up 1.8% to 7,735.1 and the Dow Jones Industrial Average higher by 1.9% to 54,185.2. The S&P 500 and the Dow touched their respective 52-week highs intraday.Technology was the standout gainer, followed by materials and industrials. Utilities led decliners.Palantir Technologies (PLTR) surged 30%, the top gainer on the S&P 500 and the Nasdaq, after Q2 sales and adjusted earnings surpassed analysts' estimates and the company, one of the most prominent names in the artificial intelligence industry, boosted its full-year 2026 revenue outlook.VanEck Semiconductor Exchange-Traded Fund (SMH), with net assets of $77.2 billion, jumped 5.4%.Caterpillar (CAT) raised its full-year revenue outlook on Tuesday after single-quarter sales topped $20 billion for the first time. Shares jumped 6.6%, the Dow's leader.The prospect of a US-Iran deal appeared to be gaining traction on Tuesday, after Qatar said a proposal had been drafted and US Treasury Secretary Scott Bessent sounded hopeful on an agreement to reopen the Strait of Hormuz, Bloomberg reported.US Treasury Secretary Bessent said a deal to open the Strait could come as early as "today or tomorrow," allowing "freedom of movement" for commercial vessels, Al Jazeera, a Middle Eastern broadcaster, reported.The front-month US West Texas Intermediate crude oil fell 5.1% to $76.26 a barrel, and global benchmark North Sea Brent slid 4.8% to $79.73 a barrel.US Treasury yields dropped, with the 10-year down 5.7 basis points to 4.63%. The two-year yield slid six basis points to 4.2%.Gold futures jumped 1.4% to $4,146.5, and silver futures advanced 3.8% to $60.04.US job openings fell to 7.359 million in June according to the Bureau of Labor Statistics, below the 7.454 million openings expected in a survey compiled by Bloomberg and down from the 7.537 million openings reported in May. The June level represents 4.4% of total employment, down from 4.5% in May but up from 4.3% a year earlier.New orders for US factory goods fell by 0.3% in June, versus expectations for a 0.2% increase in a Bloomberg-compiled survey and a revised 1.1% decrease in May. Excluding a 0.1% drop in transportation orders, new orders would have been down 0.4% after a 2% gain in May, compared with expectations for a 0.4% gain.US home prices advanced further in Q2, with 80% of metro areas reporting price increases for single-family homes over the quarter, the National Association of Realtors reported Tuesday, up from 71% in the previous quarter.

Dow JonesNasdaq CompositeS&P 500$CAT$PLTR$SMH

Japan35d ago

Update: US Equity Indexes Jump as Earnings Help Technology Top Sector Charts, Iran Deal Optimism Grows

US equity indexes rose as earnings helped boost technology while a slide in crude oil and government bond yields added to confidence that Iran is nearing a deal that would reopen the Strait of Hormuz.The Nasdaq Composite jumped 2.1% to 26,458.2, with the S&P 500 up 1.5% to 7,711.4 and the Dow Jones Industrial Average higher by 1.7% to 54,078.7. The S&P 500 and the Dow touched their respective 52-week highs intraday. Technology was the standout gainer, followed by materials and industrials. Utilities and real estate led decliners.Palantir Technologies (PLTR) surged 26%, the top gainer on the S&P 500 and the Nasdaq, after Q2 sales and adjusted earnings surpassed analysts' estimates and the company, one of the most prominent names in the artificial intelligence industry, boosted its full-year 2026 revenue outlook.VanEck Semiconductor Exchange Traded Fund (SMH), with net assets of $77.2 billion, jumped 4.2%.The prospect of a US-Iran deal appeared to be gaining traction on Tuesday, after Qatar said a proposal had been drafted and US Treasury Secretary Scott Bessent sounded hopeful on an agreement to reopen the Strait of Hormuz, Bloomberg reported.US Treasury Secretary Bessent said a deal to open the Strait could come as early as "today or tomorrow," allowing "freedom of movement" for commercial vessels, Al Jazeera, a Middle Eastern broadcaster, reported.The front-month US West Texas Intermediate crude oil fell 4.5% to $76.74 a barrel, and global benchmark North Sea Brent slid 4% to $80.42 a barrel.US Treasury yields dropped, with the 10-year down 4.3 basis points to 4.64%. The two-year yield slid 5.2 basis points to 4.2%.

Dow JonesNasdaq CompositeS&P 500$PLTR$SMH

Asia Markets40d ago

Update: US Equity Indexes Surge as Microsoft Triggers Rebound in Chipmakers While Inflation Rate Falls in June

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes soared Thursday as semiconductors rebounded after Microsoft's (MSFT) quarterly results revealed evidence of AI monetization and a closely watched inflation gauge showed a decline for June.The Nasdaq Composite catapulted 2.8% to 25,122.18, the S&P 500 jumped 1.7% to 7,437.63, and the Dow Jones Industrial Average climbed 1.2% to 52,208.06.Technology was the standout gainer, up 5.2%, followed by consumer discretionary. Communication services, consumer staples, and health care led the decliners.Microsoft's intelligent cloud segment revenue surged 32% to $39.31 billion, buoyed by an astounding 43% growth in Azure and other cloud services. Analysts expected a 40% year-over-year advance in Azure sales. Shares of Microsoft shot up 16%, one of the top gainers in the S&P 500, Nasdaq, and the Dow."This was another standout quarter by Nadella & Co. with triple-digit AI [annual recurring revenue] growth and accelerating Azure trajectory into the end of FY26, reinforcing that any knee-jerk reactions to the elevated capex framework represent strong buying opportunities as Redmond's structural AI moat only widens from here," Dan Ives, global head of technology at Wedbush Securities, said in a note.Arm (ARM) shares rose 6.2% after the semiconductor group reported a fiscal Q1 beat for adjusted earnings and revenue.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. The deal could be announced as soon as today, the report said.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, advanced 6.9%, as chipmakers are major beneficiaries of AI-related spending. Among companies with a market capitalization of more than $200 billion, six of the top 10 gainers on Thursday were from the semiconductors and semiconductor equipment and materials industries, according to data compiled by Finviz.In economic news, the personal consumption expenditures, or PCE, price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%. The price index rose by 0.5% in May. The core PCE price index climbed 0.1% in June, below the 0.2% gain expected and following a 0.3% growth in May. The year-over-year rate dropped to 3.3% from 3.4%, according to the Bureau of Economic Analysis.An advance BEA reading of gross domestic product showed 1.5% growth in Q2, after a 2.1% increase in Q1 and missing the 2.0% gain forecast in a Bloomberg-compiled survey.US Treasury yields traded mixed, with the 10-year up 5.3 basis points to 4.68%.In precious metals markets, gold futures jumped 1.9% to $4,173.5, and silver futures advanced 2.5% to $59.53.The front-month US West Texas Intermediate was down 0.9% at $83.70 a barrel, while global benchmark North Sea Brent declined 1.8% to $89.15 a barrel.Late Wednesday, US forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to CENTCOM. Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.

Dow JonesNasdaq CompositeS&P 500$ARM$GOOG$GOOGL$MS$MSFT$SMH

Japan40d ago

Update: US Equity Indexes Surge as Microsoft's Quarterly Results Spark Rebound in Chipmakers Ahead of Amazon's Earnings

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes soared following a bounce in semiconductors, as investors anchored to Microsoft's (MSFT) quarterly results showing AI monetization while awaiting results from Amazon.com (AMZN) and Apple (AAPL) after the bell.The Nasdaq Composite jumped 2.7% to 25,097.2, the S&P 500 was up 1.6% to 7,435.5, and the Dow Jones Industrial Average climbed 1.2% to 52,231.8 ahead of Thursday's close. Technology was the standout gainer, up 5%.The Microsoft intelligent cloud segment's revenue increased 32% to $39.31 billion, buoyed by 43% growth in Azure and other cloud services, according to the company. Analysts expected a 40% year-over-year advance in Azure sales."This year, Azure revenue surpassed $100 billion for the first time, and Microsoft 365 Copilot reached over 30 million paid seats, reflecting the confidence customers are placing in us to power their (artificial intelligence) transformation," Chief Executive Satya Nadella said in a statement. Shares of Microsoft soared 17%, one of the top gainers on the S&P 500, Nasdaq, and the Dow.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, soared 6.7%, as chipmakers are major beneficiaries of AI-related spend. Investors will watch Amazon's AI-related growth in both revenue and spend when it announces quarterly results after the bell.Among companies with a market capitalization of more than $200 billion, six of the top 10 gainers in the final leg of trading were from the semiconductors and semiconductor equipment and materials industries, according to data compiled by Finviz.In economic news, the personal consumption expenditures, or PCE, price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%. The price index rose by 0.5% in May. The core PCE price index climbed 0.1% in June, below the 0.2% gain expected and following a 0.3% growth in May. The year-over-year rate dropped to 3.3% from 3.4%, according to the Bureau of Economic Analysis.US Treasury yields traded mixed, with the 10-year up 4.5 basis points to 4.67%. The two-year was steady at 4.24%.Late Wednesday, the US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to CENTCOM. Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.The front-month US West Texas Intermediate was down 1.1% at $83.55 a barrel, while global benchmark North Sea Brent declined 1.9% to $89.03 a barrel.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$MSFT$SMH

Asia Markets40d ago

Update: US Equity Indexes Surge as Rebound in Chipmakers Boosts Technology

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes rose amid a bounce in semiconductors as investors anchored to Microsoft's (MSFT) quarterly results showing AI monetization and a closely watched inflation gauge fell in June.The Nasdaq Composite jumped 2.6% to 25,069.1, the S&P 500 was up 1.5% to 7,424.5, and the Dow Jones Industrial Average climbed 1.1% to 52,152.7 after midday Thursday. Technology was the standout gainer, up 5%, while communication services led the decliners.The Microsoft intelligent cloud segment's revenue increased 32% to $39.31 billion, buoyed by 43% growth in Azure and other cloud services, according to the company. Analysts expected a 40% year-over-year advance in Azure sales."This year, Azure revenue surpassed $100 billion for the first time, and Microsoft 365 Copilot reached over 30 million paid seats, reflecting the confidence customers are placing in us to power their (artificial intelligence) transformation," Chief Executive Satya Nadella said in a statement. Shares of Microsoft soared 17%, one of the top gainers on the S&P 500, Nasdaq, and the Dow.Arm (ARM) jumped 6.2% after the semiconductor group reported a fiscal Q1 beat for adjusted earnings and revenue.Meta Platforms (META) slumped 9%, one of the worst performers on the Nasdaq. The firm provided a soft Q3 revenue outlook following an unexpected decline in quarterly earnings, while it raised the lower end of its capital expenditure guidance.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, soared 6.8%, as chipmakers are major beneficiaries of AI-related spend. Among companies with a market capitalization of more than $200 billion, seven of the top 10 gainers after midday Thursday were from the semiconductors and semiconductor equipment and materials industries, according to data compiled by Finviz.In economic news, the personal consumption expenditures, or PCE, price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%. The price index rose by 0.5% in May. The core PCE price index climbed 0.1% in June, below the 0.2% gain expected and following a 0.3% growth in May. The year-over-year rate dropped to 3.3% from 3.4%, according to the Bureau of Economic Analysis.An advance BEA reading of gross domestic product showed 1.5% growth in Q2, after a 2.1% increase in Q1 and missing the 2.0% gain forecast in a Bloomberg-compiled survey.US initial jobless claims rose sequentially to 197,000 in the week ended July 25 from an upwardly revised 188,000, versus expectations for an increase to 200,000 in a Bloomberg-compiled poll. The four-week moving average, however, fell 5,000 to 202,750, the US Labor Department reported.US Treasury yields traded mixed, with the 10-year up 3.7 basis points to 4.66%. The two-year fell 1.5 basis points to 4.22%.In precious metal markets, gold futures jumped 1.8% to $4,107.5, and silver futures advanced 1.5% to $58.94.The front-month US West Texas Intermediate was down 0.7% at $83.84 a barrel, while global benchmark North Sea Brent declined 1.5% to $89.38 a barrel.Late Wednesday, the US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to a CENTCOM statement.Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.A drone strike on gas vessels in Egypt's Mediterranean port of Damietta on Wednesday raised the prospect of threats to navigation through the Suez Canal, one of the last remaining export routes for Saudi oil, Reuters reported.

Dow JonesNasdaq CompositeS&P 500$ARM$META$MSFT$SMH

Asia Markets40d ago

Update: US Equity Indexes Jump Amid Rebound in Chipmakers

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes rose amid a bounce in semiconductors as investors anchored to Microsoft's (MSFT) quarterly results showing AI monetization.The Nasdaq Composite jumped 2.5% to 25,046.3, the S&P 500 was up 1.2% to 7,405.4, and the Dow Jones Industrial Average climbed 0.7% to 51,932.8 after midday Thursday. Technology was the standout gainer, up 4.8%, while communication services led the decliners.The Microsoft intelligent cloud segment's revenue increased 32% to $39.31 billion, buoyed by 43% growth in Azure and other cloud services, according to the company. Analysts expected a 40% year-over-year advance in Azure sales."This year, Azure revenue surpassed $100 billion for the first time, and Microsoft 365 Copilot reached over 30 million paid seats, reflecting the confidence customers are placing in us to power their (artificial intelligence) transformation," Chief Executive Satya Nadella said in a statement. Shares of Microsoft soared 16%, one of the top gainers on the S&P 500, Nasdaq, and the Dow.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, soared 7%, as chipmakers are major beneficiaries of AI-related spend.In economic news, the personal consumption expenditures, or PCE, price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%. The price index rose by 0.5% month-over-month in May. The core PCE price index climbed 0.1% in June, below the 0.2% gain expected and following a 0.3% growth in May. The year-over-year rate dropped to 3.3% from 3.4%, according to the Bureau of Economic Analysis.Late Wednesday, the US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to a CENTCOM statement. "The strikes aimed to further diminish threats posed by Iran and its proxies to American forces, commercial shipping, and neighboring Gulf countries."Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.The front-month US West Texas Intermediate was down 0.7% at $83.83 a barrel, while global benchmark North Sea Brent slipped 0.7% to $90.14 a barrel.

Dow JonesNasdaq CompositeS&P 500$MSFT$SMH

Japan41d ago

Update: US Equity Indexes Slide as Fed on Pause for Fifth Meeting; Investors Await Big Tech Results Amid Mounting Middle East Tensions

(Updates with index/price moves and Federal Reserve/geopolitical news from the first paragraph.)US equity indexes sank after the Federal Reserve left interest rates unchanged and as Iran's surprise missile attack on regional neighbors escalated war tensions ahead of Big Tech quarterly results post-bell.The Dow Jones Industrial Average sank 2.2% to 51,610.9, with the Nasdaq Composite down 1.2% to 24,577.4 and the S&P 500 lower by 1.2% to 7,339.1 ahead of Wednesday's close. All sectors except energy, communication services, and consumer staples declined. Industrials, financials, and utilities led the steepest decliners.Microsoft (MSFT), Meta Platforms (META), Lam Research (LRCX), Arm (ARM), and Qualcomm (QCOM) will report earnings after the bell on Wednesday, and investors will focus on what these companies will say about capital expenditures related to artificial intelligence and the state of free cash flows.The Fed held its policy rate steady in a divided decision, as three officials called for policy tightening. The Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%, marking its fifth consecutive pause. Ahead of the decision, UBS Securities projected three dissenting votes as a base case. The committee reiterated its pledge to "deliver price stability" as inflation remained above the 2% target amid supply shocks.President Donald Trump said Iran will be hit hard, according to Fox News, after the US Central Command joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.The front-month US West Texas Intermediate jumped 6.8% to $84.63 a barrel, and global benchmark North Sea Brent surged 7.6% to $90.45 a barrel.US Treasury yields were mixed, with the 10-year up 5.3 basis points to 4.66% while the two-year dropped 4.6 basis points to 4.23%.

Dow JonesNasdaq CompositeS&P 500$ARM$LRCX$META$MSFT$QCOM$SMH

Asia Markets41d ago

Update: US Equity Indexes Slump Ahead of Fed Policy Moves, Big-Tech Results; Crude Oil Soars as Trump Vows to Hit Iran Hard

(Updates with index/price moves and Fed/company/geopolitical news from the first paragraph.)US equity indexes fell amid expectations of a tightening bias from the Federal Reserve and as Iran's surprise missile attack on regional neighbors escalated war tensions ahead of big-tech quarterly results post-bell.The Dow Jones Industrial Average declined 1.4% to 51,986.1, with the Nasdaq Composite down 0.7% to 24,697.2 and the S&P 500 lower by 0.7% to 7,376.8 after midday Wednesday. All sectors except energy, consumer staples, and consumer discretionary declined. Industrials, materials, and technology led the steepest decliners.Microsoft (MSFT), Meta Platforms (META), Lam Research (LRCX), Arm (ARM), and Qualcomm (QCOM) will report earnings after the bell on Wednesday, and investors will focus on what these companies will say about capital expenditures related to artificial intelligence and the state of free cash flows.Among companies with a market capitalization of more than $200 billion, eight of the 10 worst intraday performers were from the technology sector, according to data compiled by Finviz. VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, slumped 3.1% after midday.The Fed is likely to remain on hold at the 3.5% to 3.75% target range in its Wednesday policy announcement, according to the CME FedWatch tool. However, the probability that the target rate for fed funds will increase to 4.25%-4.5% in December jumped to 17% as of Wednesday afternoon from 9% a month ago, implying a significant tightening bias among some market participants.The tightening bias may have to be communicated more subtly through a more casual or veiled tone, Thierry Wizman, global foreign-exchange and rates strategist at Macquarie, said in a note. Alternatively, Fed Chair Kevin Warsh may have to accommodate the views of the more hawkish majority in his press conference on Wednesday by making his views more strident about promoting price stability "without delay," he said."And if that isn't enough, the more hawkish bias will spill out more forcefully in the comments and appearances by Fed officials in the days after today's FOMC meeting," Wizman said in the note. "But one way or another - including, perhaps, through dissent - the Fed's emerging tightening bias will find its way into the market today or the next few days."In geopolitical news, President Donald Trump said Iran will be hit hard, according to Fox News.The US Central Command said it joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.The front-month US West Texas Intermediate jumped 6.8% to $84.63 a barrel, and global benchmark North Sea Brent surged 7.6% to $90.45 a barrel.US Treasury yields jumped, with the 10-year up 3.5 basis points to 4.64% and the two-year higher by 4.5 basis points to 4.32%.In precious metal markets, gold futures were steady at $4,039.2, and silver futures rose 0.8% to $57.99.

Dow JonesNasdaq CompositeS&P 500$ARM$LRCX$META$MSFT$QCOM$SMH

Japan41d ago

Update: US Equity Indexes Slide Ahead of Warsh's Press Briefing, Big-Tech Results While Trump Vows to Hit Iran Hard

Dow JonesNasdaq CompositeS&P 500$ARM$LRCX$META$MSFT$QCOM$SMH

Asia Markets42d ago

Update: US Equity Indexes Mixed as Chipmakers Weigh Ahead of Mag-7 Results, Crude Oil Drops Amid Halt in Middle East Strikes

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes traded mixed as chipmakers pushed technology lower ahead of Microsoft (MSFT) and Meta Platforms' (META) quarterly results and a pause in strikes between Washington and Iran continued.The Dow Jones Industrial Average rose 1% to 52,747.32, with the S&P 500 up 0.2% to 7,428.78 on Tuesday. The tech-heavy Nasdaq Composite fell 0.2% to 24,876.91. Energy and technology led the decliners while healthcare, consumer staples, and materials topped the gainers at the close.Microsoft and Meta, part of the so-called Magnificent-7 stocks known for their sway over indexes, are expected to report earnings after the bell on Wednesday.The VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, slid 3.5% on Tuesday. Among companies with a market capitalization of more than $200 billion, nine of the 10 worst performers were from the semiconductor and semiconductor equipment and materials industries, according to data compiled by Finviz. The steepest decliner in this category was SK Hynix (SKHY), down 9%.Shares of Corning (GLW), a supplier of cover glass to Apple (AAPL), sank 12%, the second-worst performer on the S&P 500, after the company reported Q2 results and set guidance for the next quarter.In geopolitical news, President Donald Trump said talks with Iran were continuing but again threatened to destroy Iranian bridges and power plants if no deal is made, CNN reported. Iran's foreign ministry spokesman, Esmaeil Baghaei, said Tehran was not negotiating with the US but added that "intermediaries may convey messages from the American side to us regarding ongoing developments in the region," Al Jazeera, a Middle East broadcaster, reported.Iran's military said any ships belonging to a country or company that's using frozen Iranian assets will be blocked from transiting the Strait of Hormuz, CNN cited Iranian state media as saying.Iran has rejected Trump's claim that ships damaged by Iran in the Gulf would be compensated from frozen Iranian funds. Iran Revolutionary Guards Corps spokesperson Ebrahim Zolfaghari warned that any vessel taking such money will be banned from transiting the Strait of Hormuz, Al Jazeera reported.Front-month US West Texas Intermediate slumped 4.2% to $79.16 a barrel, and global benchmark North Sea Brent dropped 5% to $83.91 a barrel.US Treasury yields fell, with the 10-year down 3.9 basis points to 4.6% and the two-year lower by 4.6 basis points to 4.28%.In precious metal markets, gold futures fell 1.3% to $4,022.9, and silver futures declined 2.4% to $57.33.In economic news, the Conference Board's measure of consumer confidence decreased to 90.8 in July from 92.2 in June, below the 92.4 expected in a Bloomberg-compiled survey.The Case-Shiller National Home Price Index rose 0.6% in May, after a 0.8% increase in April, before seasonal adjustment. National home prices were up 1.1% year-over-year, up from 0.9% in April.The Dallas Federal Reserve's monthly general business services index rose to 6.6 in July from 2.9 in June, above expectations for a 3.8 reading in a Bloomberg-compiled poll, indicating faster expansion.The Richmond Fed's monthly manufacturing index rose to 5 in July from 4 in June, below expectations for 6 in a Bloomberg-compiled survey.

Dow JonesNasdaq CompositeS&P 500$AAPL$GLW$META$MSFT$SKHY$SMH

Japan42d ago

Update: US Equity Indexes Mixed as Semiconductor Heavyweights Restrain Nasdaq

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes traded mixed as a slide in chipmakers pushed technology lower, weighing on the Nasdaq Composite and undermining the positive impact of sinking crude oil prices.The Dow Jones Industrial Average jumped 1.1% to 52,802.1, with the S&P 500 up 0.4% to 7,441.4 ahead of Tuesday's close. The tech-heavy Nasdaq Composite was little changed at 24,929.2.Energy, technology, and industrials were the sole decliners while healthcare, materials, and consumer staples topped the gainers.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, fell 2.7%. Among companies with a market capitalization of more than $200 billion, eight of the 10 worst performers were from the semiconductors and semiconductor equipment and materials industries, according to data compiled by Finviz.Shares of Corning (GLW) sank 13%, the second-worst performer on the S&P 500, after the company reported Q2 results and set guidance for the next quarter.In geopolitical news, President Donald Trump said talks with Iran were continuing but again threatened to destroy Iranian bridges and power plants if no deal is made, CNN reported. Iran's foreign ministry spokesman, Esmaeil Baghaei, said Tehran was not negotiating with the US but added that "intermediaries may convey messages from the American side to us regarding ongoing developments in the region," Al Jazeera, a Middle East broadcaster, reported.Iran's military said any ships belonging to a country or company using frozen Iranian assets will be blocked from transiting the Strait of Hormuz, CNN cited Iranian state media.Front-month US West Texas Intermediate slumped 4.2% to $79.12 a barrel, and global benchmark North Sea Brent dropped 5% to $83.94 a barrel.US Treasury yields fell, with the 10-year down 4.1 basis points to 4.6% and the two-year lower by 4.8 basis points to 4.28%.

Dow JonesNasdaq CompositeS&P 500$GLW$SMH

Asia Markets42d ago

Update: US Equity Indexes Mixed as Chipmakers Restrain Nasdaq, Crude Oil Slides

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes traded mixed, as chipmakers continued to weigh on the Nasdaq Composite and crude oil slumped after a pause in Washington's strikes on Iran appeared to extend.The Dow Jones Industrial Average jumped 1.3% to 52,877.4, with the S&P 500 up 0.4% to 7,442.7 after midday Tuesday. The Nasdaq Composite was little changed at 24,933.8.Energy, technology, and industrials were the sole decliners while consumer staples, healthcare, and materials topped the gainers.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, slumped 3%. Among companies with a market capitalization of more than $200 billion, seven of the 10 worst performers were from the semiconductors and semiconductor equipment and materials industries, according to data compiled by Finviz.Shares of Corning (GLW) sank 16%, the worst performer on the S&P 500, after the company reported Q2 results and set guidance for the next quarter.In geopolitical news, President Donald Trump said talks with Iran were continuing but again threatened to destroy Iranian bridges and power plants if no deal is made, CNN reported. Iran's foreign ministry spokesman, Esmaeil Baghaei, said Tehran was not negotiating with the US but added that "intermediaries may convey messages from the American side to us regarding ongoing developments in the region," Al Jazeera, a Middle East broadcaster, reported.The front-month US West Texas Intermediate slumped 4.7% to $78.71 a barrel, and global benchmark North Sea Brent dropped 5.3% to $83.69 a barrel.US Treasury yields fell, with the 10-year down 4.7 basis points to 4.59% and the two-year lower by 5.9 basis points to 4.26%.In precious metal markets, gold futures fell 1% to $4,038.2, and silver futures declined 1.8% to $57.64.In economic news, the Conference Board's measure of consumer confidence decreased to 90.8 in July from 92.2 in June, below the 92.4 expected in a Bloomberg-compiled survey.The Case-Shiller National Home Price Index rose 0.6% in May, after a 0.8% increase in April, before seasonal adjustment. National home prices were up 1.1% year-over-year, up from 0.9% in April.Further in company news, IQVIA (IQV) reported a year-over-year increase in Q2 adjusted earnings and revenue, and raised its 2026 outlook. Its shares surged 14%, the top gainer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$GLW$IQV$SMH

Japan42d ago

Update: US Equity Indexes Mixed as Chipmakers Mount Pressure on Nasdaq

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes traded mixed, as chipmakers continued to weigh on the Nasdaq Composite.The Dow Jones Industrial Average jumped 1.2% to 52,846.1, with the S&P 500 up 0.4% to 7,444.2 after midday Tuesday. The Nasdaq Composite was lower by less than 0.1% to 24,965.5.Energy, technology, and industrials led decliners while consumer staples, healthcare, and materials topped the gainers.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, slumped 2.5%. Among companies with a market capitalization of more than $200 billion, seven of the 10 worst performers were from the semiconductors and semiconductor equipment and materials industries, according to data compiled by Finviz.Shares of Corning (GLW) sank 18%, the worst performer on the S&P 500, after the company reported Q2 results and set guidance for the next quarter.In geopolitical news, President Donald Trump said talks with Iran were continuing but again threatened to destroy Iranian bridges and power plants if no deal is made, CNN reported. Iran's foreign ministry spokesman, Esmaeil Baghaei, said Tehran was not negotiating with the US but added that "intermediaries may convey messages from the American side to us regarding ongoing developments in the region," Al Jazeera, a Middle East broadcaster, reported.The front-month US West Texas Intermediate slumped 5.1% to $78.44 a barrel, and global benchmark North Sea Brent dropped 5.2% to $83.76 a barrel.

Dow JonesNasdaq CompositeS&P 500$GLW$SMH

Asia Markets43d ago

Update: US Equity Indexes Mixed as Chipmakers Drop, Pause in Iran Strikes Sinks Crude Oil

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes traded mixed as concerns over circular investments in the artificial intelligence industry hurt chipmakers and a third consecutive day of pause in Iran strikes sank crude oil.The Dow Jones Industrial Average climbed 0.5% to 52,210.08, and the S&P 500 rose less than 0.1% to 7,413.18 on Monday. The Nasdaq Composite fell 0.2% to 24,932.08.Technology was the third-worst performer after energy and utilities. Among companies with a market capitalization of more than $200 billion, seven of the 10 worst performers were from the semiconductor and semiconductor equipment and materials industries.Nvidia (NVDA) has agreed to expand its partnership with South Korean conglomerate SK Group through an artificial intelligence infrastructure initiative valued at more than $500 billion. The deal announced Saturday 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 4.4%, the Dow's steepest decliner. The SK Hynix stock plummeted 5.6%.Separately, Nvidia is in talks to provide a roughly $250 billion financial backstop for Microsoft-backed (MSFT) OpenAI as part of a massive data center project in southern Ohio that could cost more than $500 billion, The Wall Street Journal reported Sunday.The VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, fell 2.3%.In geopolitical news, the US paused military attacks against Iran over the weekend, while Tehran also refrained from retaliatory action, according to a Commerzbank note. "They asked us very nicely, 'Please stop, let's meet,'" Trump told reporters aboard Air Force One, according to CNN. "And that's where we are right now, see what happens. If we don't make a deal, we go back to the same thing."Messages are still being passed between the sides through mediators, and Iran has not forsaken diplomacy, but reports that Iran is requesting negotiations are "fabricated," Iran's Foreign Ministry Spokesman Esmail Baghaei said on Monday, according to Reuters.Almost all of the 78 vessels that crossed the Strait of Hormuz since Saturday used the route designated by Iran, and none were recorded using the southern route near Oman's coast promoted by the US, CNN cited Mariks, a shipping industry intelligence provider, in its news report.Front-month US West Texas Intermediate sank 8.3% to $81.91 a barrel, and global benchmark North Sea Brent plunged 9.4% to $87.70 a barrel.Most US Treasury yields fell, with the 10-year down three basis points to 4.65% and the two-year lower by 1.1 basis points to 4.32%, as lower crude oil prices bode well for the 2% inflation target.In precious metal markets, gold futures rose 0.3% to $4,083.9, while silver futures edged down 0.2% to $58.80.In economic news, new orders for US durable goods rose by 0.3% in June following a decline of 4.0% in May compared with the expectations for 1.8% in a survey compiled by Bloomberg. Excluding a 0.2% decrease in transportation orders, new orders would have been up 0.6% in June after a 1.8% increase in May. Expectations were for a 0.8% gain.

Dow JonesNasdaq CompositeS&P 500$MSFT$NVDA$SKHY$SMH

Japan43d ago

Update: US Equity Indexes Mixed as Tech Heads Lower While Iran Strikes Remain Halted

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes traded mixed as investor concerns grew over circular investments in the artificial intelligence industry and as a pause in strikes on Iran entered its third day.The Dow Jones Industrial Average climbed 0.5% to 52,193.5, and the S&P 500 rose 0.1% to 7,419.7 ahead of Monday's close. The Nasdaq Composite slipped less than 0.1% to 24,964.2. Technology was the third-worst performer.Nvidia (NVDA) has agreed to expand its partnership with South Korean conglomerate SK Group through an artificial intelligence infrastructure initiative valued at more than $500 billion. The deal announced Saturday 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 4.4%, the Dow's steepest decliner. The SK Hynix stock plummeted 5.6%.Separately, Nvidia is in talks to provide a roughly $250 billion financial backstop for Microsoft-backed (MSFT) OpenAI as part of a massive data center project in southern Ohio that could cost more than $500 billion, The Wall Street Journal reported Sunday.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, fell 2.1%.In geopolitical news, the US paused military attacks against Iran over the weekend, while Tehran also refrained from retaliatory action, according to a Commerzbank note. "They asked us very nicely, 'Please stop, let's meet,'" Trump told reporters aboard Air Force One, according to CNN. "And that's where we are right now, see what happens. If we don't make a deal, we go back to the same thing."Iran's Foreign Ministry said there are no current negotiations with the US, CNN reported.Almost all of the 78 vessels that crossed the Strait of Hormuz since Saturday used the route designated by Iran, and none were recorded using the southern route near Oman's coast promoted by the US, CNN cited Marisks, a shipping intelligence group.The front-month US West Texas Intermediate sank 7.8% to $82.39 a barrel, and global benchmark North Sea Brent plunged 8.9% to $88.19 a barrel.

Dow JonesNasdaq CompositeS&P 500$MSFT$NVDA$SKHY$SMH

Asia Markets43d ago

Update: US Equity Indexes Mixed as Tech Heads Lower, Crude Oil Sinks on Pause in Iran Strikes

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes traded mixed as investor concerns grew over circular investments in the artificial intelligence industry and as crude oil prices plunged after a pause in Iran strikes entered its third day.The Dow Jones Industrial Average climbed 0.2% to 52,022.2 after midday Monday. The Nasdaq Composite retreated 0.7% to 24,809.9, and the S&P 500 declined 0.4% to 7,385.5.Energy and technology led decliners while communication services and consumer staples topped the gainers.Nvidia (NVDA) has agreed to expand its partnership with South Korean conglomerate SK Group through an artificial intelligence infrastructure initiative valued at more than $500 billion. The deal announced Saturday 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 5.1%, the Dow's steepest decliner. The SK Hynix stock plummeted 9.6%.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, slumped 3.7%.In geopolitical news, the US paused military attacks against Iran over the weekend, while Tehran also refrained from retaliatory action, according to a Commerzbank note. Meanwhile, Oman and Iran continued discussions on a transit arrangement for the Strait of Hormuz, with diplomats describing the negotiations as "moving in the right direction." Iranian officials likewise characterized the talks as "constructive."Mediators have achieved progress in getting the US and Iran back to negotiations, the Associated Press reported, citing regional officials. The two regional officials said mediators led by Qatar and Pakistan were working to bridge the gap between Washington and Tehran to return to an interim ceasefire deal that had collapsed after the exchanges of fire, the news report said.The front-month US West Texas Intermediate sank 7.4% to $82.72 a barrel, and global benchmark North Sea Brent plunged 8% to $89.06 a barrel.Most US Treasury yields fell, with the 10-year down 3.4 basis points to 4.65% and the two-year lower by 1.9 basis points to 4.31%.In precious metal markets, gold futures rose 0.4% to $4,087.1, and silver futures edged up 0.2% to $59.05.Further in company news, Forte Biosciences (FBRX) shares surged 40% after the company agreed to be acquired by Belgian-Dutch immunology firm argenx (ARGX) in a deal worth about $2.2 billion.Baker Hughes (BKR) shares jumped 6.6% after the company posted Q2 adjusted earnings and revenue that topped analysts' expectations.In economic news, new orders for US durable goods rose by 0.3% in June following a decline of 4.0% in May compared with the expectations for a larger increase of 1.8% in a survey compiled by Bloomberg. Excluding a 0.2% decrease in transportation orders, new orders would have been up 0.6% in June after a 1.8% increase in May. Expectations were for a 0.8% gain.The Dallas Fed's monthly manufacturing index rose to 1.3 in July from zero in June, below expectations for a 2.0 print.

Dow JonesNasdaq CompositeS&P 500$ARGX$BKR$FBRX$NVDA$SKHY$SMH

Japan43d ago

US Equity Indexes Mixed, Crude Oil Sinks in Midday Trading

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes traded mixed amid growing investor concerns over circular corporate investments and as crude oil prices plunged after a pause in Iran strikes entered its third day.The Dow Jones Industrial Average climbed 0.6% to 52,249.1, and the S&P 500 rose 0.1% to 7,420.2 after midday Monday. The Nasdaq Composite was little changed at 24,972.6.Energy and technology led decliners while communication services, consumer staples, and consumer discretionary topped the gainers.Nvidia (NVDA) has agreed to expand its partnership with South Korean conglomerate SK Group through an artificial intelligence infrastructure initiative valued at more than $500 billion. The deal announced Saturday 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 4.5%, one of the bottom five in the Dow. The SK Hynix stock plummeted 8%.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, slumped 4.4%.Meanwhile, the US paused military attacks against Iran over the weekend, while Tehran also refrained from retaliatory action, according to a Commerzbank note. Meanwhile, Oman and Iran continued discussions on a transit arrangement for the Strait of Hormuz, with diplomats describing the negotiations as "moving in the right direction." Iranian officials likewise characterized the talks as "constructive."The front-month US West Texas Intermediate sank 6.3% to $83.65 a barrel, and global benchmark North Sea Brent plunged 6.9% to $90.09 a barrel.

Dow JonesNasdaq CompositeS&P 500$NVDA$SKHY$SMH

Asia Markets53d ago

Update: US Equity Indexes Drop as Chipmakers Head for Bear Market, Crude Oil Surges After Iran Expands Attack in Middle East

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes slumped as growth sectors sold off, with chipmakers on the doorstep of a bear market, and crude oil surged after Iran widened its attack to a desalination plant in Kuwait.The Nasdaq retreated 1.4% to 25,520.24, with the S&P 500 down 1% to 7,457.69 and the Dow Jones Industrial Average lower by 0.8% to 52,146.42 on Friday. Communication services, consumer discretionary, and technology led decliners, while energy was the sole gainer.The VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, fell to $556.53 on Friday from an intraday high of $671.83 on June 22, a decline of about 17%, heading into bear market territory."A Chinese startup called Moonshot announced it had a new Kimi K3 model that it claims is on par with American AI offerings from OpenAI and Anthropic," Derek Holt, head of capital market economics at Scotiabank, said in a note. "It's a replay of the prior market scare around China's DeepSeek which markets ultimately shook off and which itself may be important guidance for today. Still, AI and AI-related stocks across the tech world are under negative pressure."Netflix (NFLX), part of the communication services sector, reported mixed fiscal Q2 results overnight, with earnings above consensus while sales missed, and Q3 guidance lagging market expectations. Shares sank 7.3%, helping lead the S&P 500 and the Nasdaq lower.Shares of Intuitive Surgical (ISRG) slumped 14%, the worst performer on the Nasdaq, as growth in the company's da Vinci robotic surgery system in the US moderated amid changes in Affordable Care Act subsidies.Meta Platforms (META) is in talks to rent out computing power from its data centers to Anthropic in a deal that could be worth up to $10 billion over two years, The New York Times reported Friday, citing people with knowledge of the discussions.In geopolitical news, the US and Iran escalated attacks across the Middle East on Friday, trading strikes aimed at infrastructure and military targets as their battle over the Strait of Hormuz intensified, the Associated Press reported. The US hit more bridges and energy sites while collapsing a tower at a key Iranian port, following through on President Donald Trump's threats to pressure Tehran to ease its chokehold on the waterway vital to world energy supplies, the news report said.In response, Iran launched missiles into US-allied nations in the region, including Qatar, a mediator in the war, and Kuwait, where one of the desert nation's water desalination plants was damaged, according to the Associated Press.The front-month US West Texas Intermediate jumped 4.2% to $82.24 a barrel, and global benchmark North Sea Brent advanced 4.3% to $87.83 a barrel.US Treasury yields traded mixed, with the 10-year down 1.6 basis points to 4.55%. The two-year rose 2.7 basis points to 4.18%.In precious metal markets, gold futures rose 0.6% to $4,017.9, and silver futures climbed 0.3% to $56.34.In economic news, the University of Michigan's preliminary consumer sentiment index rose to 54.4 in July from 49.5 in June, above expectations for 51.0 in a Bloomberg-compiled survey.Michigan said that despite the highest index reading since February, consumers remain dissatisfied due to high prices, adding that it would be difficult to maintain the recent improvement in sentiment if gasoline prices rebound. "Interviews for this release spanned June 23 to July 13, with more than 70% completed before the resumption of US strikes against Iran on July 7 and the subsequent increase in gas prices."Michigan poll respondents saw one-year inflation expectations at 4.2%, down from 4.6% in June, while five-year inflation expectations remained at 3.3%.

Dow JonesNasdaq CompositeS&P 500$ISRG$META$NFLX$SMH

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