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Asia Markets

Update: US Equity Futures Higher Pre-Bell as Traders Monitor Bond Yields, Oil Prices

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging higher pre-bell Thursday as traders continued to monitor bond yields and oil prices.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.1% higher.The US 10-year Treasury note yield lingered around 4.78%. New York Federal Reserve President John Williams told CNBC Wednesday that the recent surge in Treasury yields is the product of a strong economy, not market dysfunction. He added that he is taking a "wait-and-see" approach on a potential interest rate hike.Traders digested the latest round of earnings, with Ciena (CIEN) posting higher fiscal Q3 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.4% at $97 per barrel and US West Texas Intermediate crude 2% higher at $92.79 per barrel.The US international trade deficit, released at 8:30 am ET, widened to $88.58 billion in July from the revised $71.18 billion gap in June, compared with a $90.2 billion gap expected in a survey compiled by Bloomberg. The weekly jobless claims bulletin showed 206,000 new unemployment claims for the week ended Aug. 29, compared with the upwardly revised figure of 204,000 in the prior week, and the 205,000 expected.Q2 nonfarm productivity increased at a 1.4% annual rate as expected, while unit labor costs increased 1.2%, compared with the 1.3% gain expected.The S&P Global purchasing managers' index composite final report for August is due at 9:45 am ET, followed by ISM's services data at 10:00 am ET.Federal Reserve Governor Christopher Waller and Cleveland President Beth Hammack are slated to speak on Thursday.In other world markets, Japan's Nikkei closed 0.2% lower, Hong Kong's Hang Seng ended 0.4% lower, and China's Shanghai Composite finished flat. Meanwhile, the UK's FTSE 100 was up 0.7%, and Germany's DAX index was 0.1% higher in Europe's early afternoon session.In equities, Tesla (TSLA) shares rose 1.7% after a Reuters report citing French Transport Minister Philippe Tabarot as saying that the company has begun on-road tests of its Full Self-Driving system in France. Snowflake (SNOW) stock was up more than 24% after the company posted late Wednesday better-than-expected fiscal Q2 results and raised its fiscal 2027 product revenue guidance. Ciena shares were 2.4% higher after the company reported a fiscal Q3 adjusted earnings and revenue beat.On the losing side, Broadcom (AVGO) stock was down 3% after the company reported its fiscal Q3 financial results on late Wednesday. Hewlett Packard Enterprise (HPE) shares dropped 4.7% despite the company posting higher fiscal Q3 non-GAAP earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$AVGO$CIEN$HPE$SNOW$TSLA
Stocks Mostly Down Pre-Bell as Investors Monitor Latest Middle East Developments
US Markets

Stocks Mostly Down Pre-Bell as Investors Monitor Latest Middle East Developments

US equity markets were mostly pointing lower before the opening bell Thursday as traders continue to monitor the latest developments in the Middle East.The S&P 500 edged down 0.1%, and the Nasdaq was off 0.2% in premarket activity, while the Dow Jones Industrial Average nudged 0.1% higher. The indexes finished the previous trading session in the green, snapping a three-day losing streak.President Donald Trump told reporters on Wednesday that renewed attacks against Iran aren't likely to last "too long," according to multiple media outlets. US forces struck Iranian military targets earlier in the week."We took out all of the new equipment that they tried to build along the Strait of Hormuz -- some defensive, some offensive," Trump reportedly said, according to Bloomberg News. "It was a very heavy attack last night, and we're prepared to do another one any time we want."Top officials in the Trump administration are seeking to prevent the war with Iran from escalating ahead of November's midterm elections, while considering ramping up military action after the vote, Reuters reported Wednesday, citing people familiar with the discussions.Kuwait's army said Thursday it was intercepting missile and drone attacks from Iran targeting US bases in the country, CNBC reported.West Texas Intermediate crude oil rose 1.7% to $92.52 a barrel before the open, while Brent increased 1.6% to $97.16.Treasury yields were trending lower in premarket action, with the two-year rate retreating 1.1 basis points to 4.38% and the 10-year rate decreasing 0.8 basis points to 4.79%.Federal Reserve Bank of New York President John Williams told CNBC in an interview on Wednesday that the recent spike in Treasury yields reflects a strong economy, not market dysfunction.Employers in the US announced 52,881 layoffs in August, up 58% from the month prior but down 38% year over year, according to Challenger, Gray & Christmas' latest report. US private sector employment grew at its slowest pace in seven months in August, ADP (ADP) data showed Wednesday.Thursday's economic calendar also has the weekly jobless claims bulletin and the international trade in goods and services report for July at 8:30 am ET. The purchasing managers' index composite final report from S&P Global (SPGI) for August is out at 9:45 am, followed by the Institute for Supply Management's services index for the same month at 10 am.Federal Reserve Governor Christopher Waller is scheduled to speak at 8:30 am, while Cleveland Fed President Beth Hammack speaks at 3 pm.Shares of Broadcom (AVGO) and Hewlett Packard Enterprise (HPE) declined 3.3% and 3.7%, respectively, pre-bell after reporting their latest financial results. Snowflake (SNOW) jumped 24% as the firm lifted its full-year product revenue outlook.Ciena (CIEN), Toro (TTC), Campbell's (CPB) and Victoria's Secret (VSXY) are expected to release their quarterly earnings before the bell, among others. Zscaler (ZS), Guidewire Software (GWRE), Lululemon Athletica (LULU), DocuSign (DOCU) and UiPath (PATH) post their results after the markets close.Gold gained 1.2% to $4,469 per troy ounce, while bitcoin increased 0.5% to $77,597.

Dow JonesNasdaq CompositeS&P 500$AVGO$CIEN$CPB$DOCU$GWRE$HPE$LULU$PATH$SNOW$TTC$VSXY$ZS
Snowflake Raises Full-Year Product Revenue Outlook Following Fiscal Second-Quarter Beat
US Markets

Snowflake Raises Full-Year Product Revenue Outlook Following Fiscal Second-Quarter Beat

Snowflake (SNOW) shares jumped early Thursday as the cloud-based data platform lifted its full-year product revenue outlook and reported fiscal second-quarter results above Wall Street's expectations.Product revenue, which accounts for most of the firm's total revenue, is now expected to reach $6.07 billion for fiscal 2027, representing annual growth of 36%, Snowflake said late Wednesday. The company previously projected the key metric at $5.84 billion, while the current FactSet consensus is $5.99 billion."Given the strength we've observed, both in our core data platform business and (artificial intelligence) business, we're raising our product revenue guidance for the year," Chief Financial Officer Brian Robins said during an earnings call, according to a FactSet transcript.The company expects to maintain strong growth while continuing to expand its margins over the long term, Chief Executive Sridhar Ramaswamy said during the call.Snowflake's stock spiked 25% in the most recent premarket activity.In an emailed client note, Truist Securities said AI is driving direct monetization and incremental platform consumption for Snowflake, with AI products accounting for about 50% of the recent growth acceleration. The brokerage expects the company to see "sustained growth acceleration" as AI expands its "relevance" and generates new workload adoption.Snowflake's adjusted earnings came in at $0.62 a share for the three-month period ended July, up from $0.35 the year before, ahead of the Street's view for $0.45. Revenue advanced 35% to $1.55 billion, topping the average analyst estimate of $1.48 billion.Product revenue increased 37% to $1.49 billion, exceeding the market's forecast of $1.42 billion. "(The second quarter) marks our third consecutive quarter of product revenue growth acceleration, driven by strength in both our core data platform and a meaningful step-up in AI revenue," Robins said in the earnings release.The net revenue retention rate was 126%, while remaining performance obligations, or RPO, grew 30% year over year to $9 billion, according to the company.For the third quarter, Snowflake projects product revenue between $1.588 billion and $1.593 billion, representing year-over-year growth of 37% to 38%. The Street is looking for $1.57 billion.The guidance implies "a strong case for sustained growth acceleration," Truist said.In July, Amazon.com (AMZN) reported better-than-expected second-quarter results buoyed by robust gains in its Amazon Web Services cloud-computing platform.Alphabet's (GOOG, GOOGL) second-quarter revenue topped market estimates, as the Google parent recorded an 82% surge in cloud revenue.

$AMZN$GOOG$GOOGL$SNOW
Update: Equities Rise Intraday as Yield Rally Fades
US Markets

Update: Equities Rise Intraday as Yield Rally Fades

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday as a rally in Treasury yields lost steam, while commodity traders continued to track developments in the US-Iran conflict.The S&P 500 was up 0.4% at 7,661.4 after midday Wednesday. The Dow Jones Industrial Average and the Nasdaq Composite gained 0.3% each to 52,947.5 and 26,182.3, respectively. The indexes finished Tuesday trading in the red for the third consecutive session.Most sectors were in the green intraday, led by materials, while real estate saw the steepest decline.Treasury yields were little changed intraday, with the two-year yield at 4.39% and the 10-year yield at 4.79%. Earlier Wednesday, the 10-year rate hit 4.818%, its highest level since November 2023, CNBC reported."While easing slightly after hitting multi-year peaks, yields remain elevated," Stifel said in a note on Wednesday.Iran has expanded the number of vessels it says must not sail through the Strait of Hormuz, Reuters reported Wednesday.The US Central Command said Tuesday that its forces completed a wave of strikes against Iranian military targets. Iran reportedly launched retaliatory attacks on Kuwait, Jordan and Bahrain.West Texas Intermediate crude oil was up 1.1% at $91.17 a barrel intraday Wednesday, while Brent advanced 1.2% to $95.81.In company news, shares of Dell Technologies (DELL) were up 9.2% intraday, the best performer on the S&P 500, after the company's fiscal second-quarter results beat Wall Street's estimates.Palo Alto Networks (PANW) slumped nearly 11%, the steepest decline on the S&P 500, as the cybersecurity firm's fiscal fourth-quarter adjusted gross margin declined year over year.Brown-Forman (BF.A, BF.B) reiterated its guidance for fiscal 2027 organic sales on Wednesday as it flagged continuing consumer headwinds that drove weaker-than-expected first-quarter top-line. The company's class A and B shares were up 3.2% and 3.4%, respectively.Broadcom (AVGO), Snowflake (SNOW), Hewlett Packard Enterprise (HPE) and Five Below (FIVE) are scheduled to release their quarterly results after markets close Wednesday.In economic news, US private sector employment grew at its slowest pace in seven months in August, ADP (ADP) data showed, ahead of the official jobs report due on Friday.Data from the Bureau of Labor Statistics are likely to show Friday that the US economy added 55,000 nonfarm jobs last month, compared with a drop of 23,000 for July, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.1%.Spot gold rose 0.9% to $4,368.15 per troy ounce, while silver edged up 0.1% to $65.44 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADP$AVGO$BF.A$BF.B$DELL$FIVE$HPE$PANW$SNOW
Stocks Fall Pre-Bell Amid Rising Middle East Tensions, Bond Yields
US Markets

Stocks Fall Pre-Bell Amid Rising Middle East Tensions, Bond Yields

The main US stock measures were trending lower in Wednesday's premarket activity amid escalating tensions in the Middle East and rising bond yields.The S&P 500 declined 0.2%, the Dow Jones Industrial Average edged down 0.1%, and the Nasdaq was off 0.5% before the opening bell. The indexes finished Tuesday trading in the red for the third consecutive session.The US Central Command said Tuesday that its forces completed a wave of strikes against Iranian military targets, following recent attempted attacks by the Islamic Revolutionary Guard Corps against commercial shipping in the Strait of Hormuz.Iran reportedly launched retaliatory drones and missiles on US bases in Kuwait, Jordan and Bahrain, according to multiple media outlets.West Texas Intermediate crude oil rose 0.3% to $90.50 a barrel in premarket action, while Brent increased 0.5% to $95.11.In a social media post on Tuesday, President Donald Trump said he's "not trying to force Iran" to resume negotiations with the US. "I like our position now much better, with almost total control of the Hormuz Strait, and their economy totally collapsing," Trump wrote.Treasury yields were moving higher before the open, with the 10-year rate up 1.8 basis points to 4.81%, reportedly reaching its highest level since November 2023. The two-year rate inclined 0.8 basis points to 4.4%, while the 30-year yield gained 1.9 basis points to 5.29%."Higher yields are proving to be the stock market's undoing," Thierry Wizman, global foreign exchange and rates strategist at Macquarie Group, said in a note e-mailed toon Tuesday. "They force analysts to discount higher earnings more aggressively, thus forcing (price-to-earnings) multiples downward."The Federal Reserve should tighten monetary policy unless inflation cools down, Governor Michael Barr said Tuesday, adding to a growing chorus of hawkish views from policymakers. Fed Chair Kevin Warsh said last week that the central bank's primary focus should be on prices, given that the US is doing well on the employment front.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the ADP Employment report for August at 8:15 am. The Fed's Beige Book, a compilation of economic and business reports from the 12 regional Fed branches, is out at 2 pm.Shares of Dell Technologies (DELL) spiked 9.3% pre-bell after the computer maker's fiscal second-quarter results beat Wall Street's estimates. Palo Alto Networks (PANW) retreated nearly 2% as the cybersecurity firm's fiscal fourth-quarter adjusted gross margin declined year over year.Credo Technology (CRDO) and MongoDB (MDB) fell 8.9% and 13%, respectively, following their latest financial results.Brown Forman (BF.A, BF.B), Ollie's Bargain Outlet (OLLI) and FuelCell Energy (FCEL) are expected to release their quarterly earnings before the bell, among others. Broadcom (AVGO), Snowflake (SNOW), Hewlett Packard Enterprise (HPE) and Five Below (FIVE) post their results after the markets close.Gold declined 0.9% to $4,365 per troy ounce, while bitcoin slipped 1% to $76,467.

Dow JonesNasdaq CompositeS&P 500$AVGO$BF.A$BF.B$CRDO$DELL$FCEL$FIVE$HPE$MDB$OLLI$PANW$SNOW
Update: Equities Fall as US-Iran Conflict Flares Up; Wall Street Logs Gains for August
US Markets

Update: Equities Fall as US-Iran Conflict Flares Up; Wall Street Logs Gains for August

(Updates with market moves at the end of the day, and other changes, if any.)Stocks on Wall Street fell on the last trading day of August as oil prices jumped following an escalation in the US-Iran conflict, though equity benchmarks posted monthly gains.The Dow Jones Industrial Average closed Monday trading 0.7% lower at 53,185.90. The S&P 500 declined 0.3% to 7,686.14, while the Nasdaq Composite edged down 0.1% to 26,370.89. Except energy and technology, all sectors were in the red, led by communication services.For the month August, the Nasdaq climbed 3.9%, while the S&P 500 gained 2.6%, following two straight monthly losses for both indexes. The Dow added 1.3%, recording its fifth consecutive monthly rise.West Texas Intermediate crude oil was up 3.1% at $85.97 a barrel in Monday late-afternoon trade, while Brent advanced 2.7% to $90.45. Both benchmarks were on track to post their second monthly gains in a row.The US and Iran reportedly traded strikes for the first time in a month, with American forces attacking two Iranian rocket launchers on Iran's Larak Island, multiple media outlets reported. A spokesperson for US Central Command said that Tehran's Islamic Revolutionary Guard Corps was preparing to launch rockets with sea mines into the Strait of Hormuz, CNN reported.The attack is the first confirmed US military strike against Iran since late July and comes after Washington launched an economic campaign last week to cut off financial channels that support Iran.Iran said it retaliated by attacking US bases in Jordan and the United Arab Emirates, according to a CNN report."These developments have once again reduced the prospects of bringing the conflict to an end," Saxo Bank said Monday in a report. "However, with an estimated (6 million to 8) million barrels per day of crude flowing through the strait, the upside risk is for now being capped."US Treasury yields were mixed, with the two-year yield little changed at 4.35% while the 10-year yield rose 3.8 basis points to 4.76%.Fresh labor market data are scheduled to be released later this week, beginning with the Job Openings and Labor Turnover Survey for July on Tuesday, followed by August's ADP employment report on Wednesday. The Challenger, Gray & Christmas job cut and the government's nonfarm payrolls data, both for August, are due on Thursday and Friday, respectively.US nonfarm payrolls are projected to rebound stronger than expected in August, Oxford Economics said in a note Monday, describing labor market conditions as balanced. The brokerage expects nonfarm payrolls to have increased by 95,000 this month, compared with the Bloomberg-polled consensus of a 55,000 increase.The odds of a quarter-point rate hike next month rose to 66% on Monday from 57% on Friday, according to the CME FedWatch tool. The probability that the Fed will keep the benchmark rate steady fell to 34% from 43%.In company news, shares of Edison International (EIX) sank 23%, the worst performer on the S&P 500, followed by PG&E's (PCG) 20% slide. The state of California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes, ABC7 reported Sunday. Sempra (SRE) fell 3.1%.Aon (AON) has agreed to acquire insurance brokerage USI Insurance Services from KKR (KKR) and other shareholders in an all-cash deal worth roughly $17 billion. Aon shares slumped 9.5%, the third-steepest decline on the S&P 500.Nvidia (NVDA) expanded its partnership with chip designer MediaTek, including a $3.5 billion investment, to support adoption of the company's proprietary interconnect technology for custom rack-scale artificial intelligence chips. Shares of the tech bellwether rose 1.5%, the third-biggest gain on the Dow.Broadcom (AVGO), Palo Alto Networks (PANW), Dell Technologies (DELL) and Snowflake (SNOW) are among the companies expected to release their latest financial results this week.Spot gold was little changed at $4,454.05 per troy ounce, while silver lost 0.8% to $67.25 per ounce.

Dow JonesNasdaq CompositeS&P 500$AON$AVGO$DELL$EIX$NVDS$PANW$PCG$SNOW$SRE
Update: Equities Fall Intraday as Oil Prices Rise on Renewed US-Iran Hostilities
US Markets

Update: Equities Fall Intraday as Oil Prices Rise on Renewed US-Iran Hostilities

(Updates with latest market prices and developments.)US benchmark equity indexes were lower intraday as hostilities resumed between the US and Iran, driving oil prices higher.The Dow Jones Industrial Average was down 0.6% at 53,230.7 after midday Monday, while the S&P 500 fell 0.5% to 7,676.8. The Nasdaq Composite dipped 0.4% to 26,304.6. Except energy, all sectors were in the red, led by communication services.West Texas Intermediate crude oil climbed 2.9% to $85.85 a barrel, while Brent advanced 2.8% to $90.59.The US and Iran reportedly traded strikes for the first time in a month, with American forces attacking two Iranian rocket launchers on Iran's Larak Island, multiple media outlets reported. A spokesperson for US Central Command said that the attack came as Tehran's Islamic Revolutionary Guard Corps was preparing to launch rockets with sea mines into the Strait of Hormuz, CNN reported.The attack is the first confirmed US military strike against Iran since late July and comes after Washington launched an economic campaign last week to cut off financial channels that support Iran.Iran said it retaliated by attacking US bases in Jordan and the United Arab Emirates, according to a CNN report."These developments have once again reduced the prospects of bringing the conflict to an end," Saxo Bank said Monday in a report. "However, with an estimated (6 million to 8) million barrels per day of crude flowing through the strait, the upside risk is for now being capped."US Treasury yields were mixed intraday, with the two-year yield little changed at 4.35% while the 10-year yield rose 3.4 basis points to 4.76%.Fresh labor market data are scheduled to be released later this week, beginning with the Job Openings and Labor Turnover Survey for July on Tuesday, followed by August's ADP employment report on Wednesday. The Challenger, Gray & Christmas job cut and the government's nonfarm payrolls data, both for August, are due on Thursday and Friday, respectively.The odds of a quarter-point rate hike next month rose to 66% on Monday from 57% on Friday, according to the CME FedWatch tool. The probability that the Fed will keep the benchmark rate steady fell to 34% from 43%.In company news, shares of Edison International (EIX) sank 24% intraday, the worst performer on the S&P 500, followed by PG&E's (PCG) 19% slide. The state of California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes, ABC7 reported Sunday. Sempra (SRE) was down 3.4%.Aon (AON) has agreed to acquire insurance brokerage USI Insurance Services from KKR (KKR) and other shareholders in an all-cash deal worth roughly $17 billion. Aon shares slumped 7.4%, among the steepest declines on the S&P 500.Nvidia (NVDA) expanded its partnership with chip designer MediaTek, including a $3.5 billion investment, to support adoption of the company's proprietary interconnect technology for custom rack-scale artificial intelligence chips. Shares of the tech bellwether were up 1.1%, among the biggest gains on Dow.Broadcom (AVGO), Palo Alto Networks (PANW), Dell Technologies (DELL) and Snowflake (SNOW) are among the companies expected to release their latest financial results this week.Spot gold declined 0.5% to $4,432.35 per troy ounce, while silver lost 1.1% to $67.04 per ounce.

Dow JonesNasdaq CompositeS&P 500$AON$AVGO$DELL$EIX$NVDS$PANW$PCG$SNOW$SRE
Asia Markets

Update: US Equity Futures Slightly Lower Pre-Bell as US, Iran Resume Hostilities in Middle East

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging slightly lower pre-bell Monday as the US and Iran resumed hostilities for the first time since late July, raising oil prices and dampening hopes for an early resolution of the conflict between the two nations.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.2% lower.US forces on Sunday struck two rocket launchers on Iran's Larak Island, US Central Command told MS Now. Iran responded by attacking US bases in Jordan, Iranian state media reported.President Donald Trump posted on Truth Social an AI-generated video clip that he said showed Iran's oil hub Kharg Island being "blown to smithereens."Expected to report financial results this week are Dell Technologies (DELL), Palo Alto Networks (PANW), Medtronic (MDT), Broadcom (AVGO), Snowflake (SNOW), and Hewlett Packard Enterprise (HPE).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 5.5% at $90.85 per barrel and US West Texas Intermediate crude 3.4% higher at $86.26 per barrel.The Dallas Fed manufacturing survey for August will be released at 10:30 am ET.In other world markets, Japan's Nikkei closed 0.1% lower, Hong Kong's Hang Seng ended 0.1% lower, and China's Shanghai Composite finished 0.9% higher. Meanwhile, Germany's DAX index was 0.6% lower in Europe's early afternoon session. The UK's FTSE 100 was closed for a public holiday.In equities, stocks of Exxon Mobil (XOM), Chevron (CVX), and Shell (SHEL) were higher as oil prices increased. Exxon Mobil shares rose 2.1%, Chevron stock was up 2.4%, and Shell (SHEL) shares were 1.3% higher.On the losing side, PG&E (PCG) stock was more than 16% lower after an ABC7 report on Sunday that the company faces continued legal exposure after California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes. Pinterest (PINS) shares were down 3.2% after the company disclosed late Friday that Chief Financial Officer Julia Brau Donnelly will leave the company on Oct. 30 after three years to pursue an opportunity at a private company.

Dow JonesNasdaq CompositeS&P 500$AVGO$CVX$DELL$HPE$MDT$PANW$PCG$PINS$SHEL$SNOW$XOM
Stocks Down Pre-Bell as US, Iran Exchange Strikes; Investors Await Fresh Labor Market Data
US Markets

Stocks Down Pre-Bell as US, Iran Exchange Strikes; Investors Await Fresh Labor Market Data

The benchmark US stock measures were pointing lower before the opening bell Monday after the US and Iran reportedly traded strikes for the first time in a month, while investors await fresh labor market data.The S&P 500, the Dow Jones Industrial Average and the Nasdaq were down 0.2% each in premarket activity. The indexes finished Friday's trading session in the red.The US Central Command said its forces struck two Iranian rocket launchers on Iran's Larak Island, multiple media outlets reported. A spokesperson for CENTCOM reportedly said that the attack was launched as Tehran's Islamic Revolutionary Guard Corps was observed preparing to launch rockets with sea mines into the Strait of Hormuz.The attack is the first confirmed US military strike targeting Iran since late July and comes after Washington launched an economic campaign last week to cut off financial channels that support Iran.The IRGC said Monday that it launched a retaliatory attack on two US bases in Jordan, according to Iranian media.West Texas Intermediate crude oil spiked 3.8% to $86.54 a barrel before the open, while Brent gained 3.7% to $91.33.Treasury yields were mixed in premarket action, with the two-year rate retreating 2.5 basis points to 4.33% while the 10-year rate rose 0.2 basis points to 4.72%.Fresh labor market data is scheduled to be released later this week, beginning with the Job Openings and Labor Turnover Survey for July on Tuesday, followed by August's ADP employment report on Wednesday. The Challenger Job Cut and the government's nonfarm payrolls data, both for August, are due on Thursday and Friday, respectively.In his debut Jackson Hole speech as Federal Reserve Chair, Kevin Warsh said Friday that inflation numbers were concerning, citing the central bank's preferred metric -- the personal consumption expenditure price index -- which was unchanged at 3.7% year over year in July."Warsh's Jackson Hole keynote speech kept his options wide open, but his comments suggest that he, like others on the committee, is close to concluding that inflation isn't moving back toward the 2% target quickly enough," Oxford Economics said in a report emailed to.The odds of a quarter-point rate hike next month currently stand at 62%, up from 57% on Friday, according to the CME FedWatch tool. The probability that the Fed will keep the benchmark rate steady fell to about 38% from 43%.US consumer sentiment dropped in August amid concerns that inflation will continue to be high for the "foreseeable future," final results of a University of Michigan survey showed Friday.Monday's thin economic calendar has the Dallas Fed manufacturing survey for August at 10:30 am ET.Broadcom (AVGO), Palo Alto Networks (PANW), Dell Technologies (DELL) and Snowflake (SNOW) are some of the major companies expected to release their latest financial results this week. Science Applications International (SAIC) posts its earnings before the bell Monday.Gold declined 0.7% to $4,499 per troy ounce, while bitcoin decreased 0.5% to $78,457.

Dow JonesNasdaq CompositeS&P 500$AVGO$DELL$PANW$SAIC$SNOW
Japan

US Equity Futures Slightly Lower Pre-Bell as US, Iran Resume Hostilities in Middle East

US equity futures were edging slightly lower pre-bell Monday as the US and Iran resumed hostilities for the first time since late July, raising oil prices and dampening hopes for an early resolution of the conflict between the two nations.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.2% lower.US forces on Sunday struck two rocket launchers on Iran's Larak Island, US Central Command told MS Now. Iran responded by attacking US bases in Jordan, Iranian state media reported.President Donald Trump posted on Truth Social an AI-generated video clip that he said showed Iran's oil hub Kharg Island being "blown to smithereens".Expected to report financial results this week are Dell Technologies (DELL), Palo Alto Networks (PANW), Medtronic (MDT), Broadcom (AVGO), Snowflake (SNOW), and Hewlett Packard Enterprise (HPE).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.4% at $91.10 per barrel and US West Texas Intermediate crude 3.7% higher at $86.53 per barrel.The Dallas Fed manufacturing survey for August will be released at 10:30 am ET.

Dow JonesNasdaq CompositeS&P 500$AVGO$DELL$HPE$MDT$PANW$SNOW
Asia Markets

US Equity Investors to Focus on Corporate Earnings, Labor Market Health, Renewed Hostilities Against Iran This Week

US equity investors are expected to watch Q2 earnings, with a particular focus on cybersecurity and tech mega-cap names, the state of the labor market, and a resumption of strikes between Washington and Iran this week.* Broadcom (AVGO), Snowflake (SNOW), Hewlett Packard Enterprise (HPE), NetApp (NTAP), Five Below (FIVE) and Zscaler (ZS) are expected to report quarterly earnings this week.* Macroeconomic data due this week include nonfarm payrolls, JOLTS job openings, ADP employment change, Challenger job cuts, jobless claims, ISM manufacturing and services, factory orders, and balance of trade.* Payrolls are estimated to rise by "just" 30,000 after falling by 23,000 in July, according to a Scotiabank note late Friday. Revisions may be smaller than the 103,000 contraction in May and June because the initial sampling rate for payrolls improved in July. The unemployment rate is forecast to tick up to 4.2%.* Federal Reserve Chair Warsh's Jackson Hole speech spooked bond markets on Friday, the Scotiabank note said. Part of his mission may have been to maintain downward pressure on yields as the 10-year Treasury has stalled out in the 4.6% to 4.7% range over recent weeks. "Part of his message, however, was that he wants much more evidence on disinflationary pressures and sees nothing wrong with the labour market."* Iran and the US traded attacks for the first time in over a month overnight into Monday, CNN reported. Iran said it has attacked US bases in Jordan and US military targets at the Al Minhad airbase in the United Arab Emirates after US forces bombed two rocket launchers on Iran's Larak Island, according to a report from Al Jazeera, a Middle Eastern broadcaster.* The US military struck the two launchers that a US official said were attempting to deploy mines into the Strait of Hormuz, Reuters reported. The United Arab Emirates condemned the Iranian drone attack on Monday as a "dangerous escalation" and a flagrant violation of its sovereignty, the news report said.

Dow JonesNasdaq CompositeS&P 500$AVGO$FIVE$HPE$NTAP$SNOW$ZS
Insider Trading

Snowflake Insider Sold Shares Worth $97,425,065, According to a Recent SEC Filing

Frank Slootman, Director, on August 18, 2026, sold 300,000 shares in Snowflake (SNOW) for $97,425,065. Following the Form 4 filing with the SEC, Slootman has control over a total of 236,390 common shares of the company, with 28,535 shares held directly and 207,855 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1640147/000140234826000017/xslF345X05/wk-form4_1787269875.xml

$SNOW
Wire

Snowflake's Q2 Revenue Growth Expectations are High, but Achievable, UBS Says

Snowflake (SNOW) fiscal Q2 revenue growth expectations are quite high, but achievable, given robust trends like momentum with its CoCo coding agent and Snowflake Intelligence, UBS said in a Monday research report.Snowflake is benefiting from AI by selling 1P AI-based products, like CoCo, or being pulled along by AI spend more indirectly, analysts wrote. The company is due to report fiscal Q2 results on Sept. 2.Trends indicated growth in use cases for Snowflake's AI suite, and the most prominent use cases were a better pace of app development and agent creation, according to the note.The brokerage said it reiterated its buy rating on the stock and boosted its price target to $425 per share from $370.Price: $324.18, Change: $-5.93, Percent Change: -1.80%

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Snowflake Faces High But 'Achievable' Sales Growth Expectations, UBS Says
US Markets

Snowflake Faces High But 'Achievable' Sales Growth Expectations, UBS Says

Snowflake (SNOW) faces high revenue growth expectations heading into its fiscal second-quarter results, though accelerating enterprise demand for artificial intelligence tools makes those targets "achievable," UBS Securities said in a note e-mailed Tuesday.The cloud-based data platform's investors are eyeing sales growth of 36% to 37% for the quarter and see the company exiting fiscal 2027 at a high-30% to 40% rate, according to UBS."In our view, the demand trends are strong enough such that we conclude these bogeys are achievable," UBS analyst Karl Keirstead said in a note to clients.Partner and customer checks show enterprise adoption of AI tools is directly driving increased usage on the platform. "Net, the AI pull-through to Snowflake spend is real and picking up momentum," Keirstead wrote.The company is scheduled to report second-quarter results Sept. 2."One lingering investor concern is that the frontier models are getting so good at data tasks that customers can use them directly in lieu of spending on data software firms," Keirstead said. "We vetted this potential and conclude that very few enterprises are directly harnessing the data capabilities of (large language models) in a way that is curtailing spend on Snowflake, Palantir (PLTR) or Databricks."UBS raised its price target on the Snowflake stock to $425 from $370 and reiterated its buy rating.The company's shares were down 1.7% in Tuesday afternoon trade. The stock has jumped 48% so far this year.Earlier in the month, Palantir lifted its full-year revenue guidance after a surge in US commercial sales drove stronger-than-expected second-quarter results.Last week, RBC Capital Markets said several major software companies are likely to top expectations for their upcoming quarterly financial results amid an "incrementally more optimistic" feedback from resellers and other factors. The firm raised price targets for 12 of the 14 software providers in its sector coverage, including CrowdStrike (CRWD) and Snowflake, which it tagged as its "favorite growth idea."Price: $323.43, Change: $-6.68, Percent Change: -2.02%

$CRWD$PLTR$SNOW
Insider Trading

Snowflake Insider Sold Shares Worth $16,785,000, According to a Recent SEC Filing

Benoit Dageville, Director, on August 12, 2026, sold 50,000 shares in Snowflake (SNOW) for $16,785,000. Following the Form 4 filing with the SEC, Dageville has control over a total of 4,415,841 common shares of the company, with 180,958 shares held directly and 4,234,883 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1640147/000182173726000011/xslF345X05/wk-form4_1786748461.xml

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Major Software Providers Poised for Quarterly Beats Amid 'Bullish' Reseller Feedback, RBC Says
US Markets

Major Software Providers Poised for Quarterly Beats Amid 'Bullish' Reseller Feedback, RBC Says

Several major software companies are likely to top expectations for their upcoming quarterly financial results amid an "incrementally more optimistic" feedback from resellers and other factors, RBC Capital Markets said in a note e-mailed Friday.The brokerage raised its price targets for 12 of the 14 software providers in its sector coverage, including CrowdStrike (CRWD) and Snowflake (SNOW), which it tagged as its "favorite growth idea." RBC expects both Autodesk (ADSK) and CrowdStrike, in particular, to raise their respectively financial outlooks."Our recent checks and on-quarter results from our (artificial intelligence), cyber, infra and data coverage leave us more optimistic as we head into the (second half of the year), with upside to consensus estimates now appearing more likely," Matthew Hedberg, RBC's head of global technology, internet, media and telecom research, said in a note to clients."Our off-(quarter) cyber checks were particularly bullish, as we found resellers incrementally more optimistic regarding recent results and the potential for a strong (second half)," Hedberg wrote.The brokerage raised its price target on the Snowflake stock to $372 from $313. "We continue to believe Snowflake is one of the few software companies benefiting directly from AI-readiness as we remain positively biased on shares," Hedberg said.RBC revised its price target for CrowdStrike's shares to $256 from $188.75. The brokerage tagged the company as a "top (long-term) idea and category leader.""Following another round of bullish reseller checks, we look for another strong beat/raise quarter (for CrowdStrike)," Hedberg said. "While we think demand trends remain very healthy and assume nice upside to (second-quarter) estimates, the (short-term) setup is trickier, as CrowdStrike has higher company-specific expectations and valuation (versus) peers."While RBC maintained its $305 price target on the Autodesk stock, Hedberg described the company's setup as "favorable coming off a strong beat-and-raise quarter.""We believe (fiscal 2027) guidance has an opportunity to move slightly higher this quarter and over (the second half)," Hedberg wrote. "We continue to like design and vertical software ideas like (Autodesk), as we believe they are less prone to AI headwinds and could start to see AI tailwinds due to proprietary data moats."Citing "peer-multiple expansion," RBC also raised its price targets for GitLab (GTLB), Okta (OKTA), Palo Alto Networks (PANW), SailPoint (SAIL), among other names. It maintained its price target on the Zscaler (ZS) stock at $200.Price: $217.71, Change: $-7.82, Percent Change: -3.47%

$ADSK$CRWD$GTLB$OKTA$PANW$SAIL$SNOW$ZS
Wire

Snowflake Core Consumption Seen Supporting Upcoming Fiscal Q2 Results, Oppenheimer Says

Snowflake (SNOW) is expected to beat fiscal Q2 product revenue estimates on stronger core consumption, pipeline generation and expanding CoCo usage, Oppenheimer said in a note Wednesday.The firm models Q2 product revenue of $1.47 billion, about 3% to 4% above consensus estimates of $1.42 billion and representing over 34% growth year over year.Oppenheimer said it expects continued CoCo uptake, with current usage primarily coming from earlier adopters representing about 15% to 20% of Snowflake's customers. The firm also said sales is positioning CoCo with all customers, while newer users are likely to expand at slightly slower rates than early adopters.Most large enterprises continue to operate Snowflake and Databricks in parallel, with both gaining primarily from legacy vendors, analysts said.Snowflake said it will report its fiscal Q2 results on Sept. 2.Oppenheimer maintained its outperform rating on Snowflake and raised its price target to $400 from $295.Price: $338.10, Change: $+3.96, Percent Change: +1.19%

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Insider Trading

Snowflake Insider Sold Shares Worth $16,443,128, According to a Recent SEC Filing

Michael L Speiser, Director, on August 07, 2026, sold 50,741 shares in Snowflake (SNOW) for $16,443,128. Following the Form 4 filing with the SEC, Speiser has control over a total of 2,455,471 common shares of the company, with 22,573 shares held directly and 2,432,898 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1640147/000143364426000016/xslF345X05/wk-form4_1786492337.xml

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Insider Trading

Snowflake Insider Sold Shares Worth $9,750,000, According to a Recent SEC Filing

Christian Kleinerman, Executive Vice President, Product Management, on August 07, 2026, sold 30,000 shares in Snowflake (SNOW) for $9,750,000. Following the Form 4 filing with the SEC, Kleinerman has control over a total of 686,748 common shares of the company, with 340,379 shares held directly and 346,369 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1640147/000197908826000017/xslF345X05/wk-form4_1786492379.xml

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Insider Trading

Snowflake Insider Sold Shares Worth $2,969,950, According to a Recent SEC Filing

Christian Kleinerman, Executive Vice President, Product Management, on August 03, 2026, sold 10,000 shares in Snowflake (SNOW) for $2,969,950. Following the Form 4 filing with the SEC, Kleinerman has control over a total of 716,748 common shares of the company, with 365,379 shares held directly and 351,369 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1640147/000197908826000016/xslF345X05/wk-form4_1785975216.xml

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