$SPGI

79 stories mentioning SPGIUpdated 5d ago

Every FINWIRES story that references SPGI, newest first.

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Recent broker actions mentioned in FINWIRES coverage. Compiled from wire headlines; not investment advice.

Goldman SachsTarget revisedBuy74d ago
Price target$490from $539

What's the latest news on SPGI?

US Markets5d ago

Chip, Drug Makers to Drive Non-Residential Construction Rebound, UBS Says

US non-residential construction is approaching a reacceleration, driven by semiconductor and pharmaceutical investments, UBS Securities said in a note emailed Tuesday.The brokerage expects manufacturing-related construction to rebound to more than $200 billion by the end of next year following a 25% drop to $186 billion in the last 12 months.Electric vehicle and battery plants, as well as semiconductor investments, drove the previous buildout cycle from 2021 to 2024, UBS analysts, including Steven Fisher, said."Our analysis and project tracking continues to suggest the drivers this cycle will be another round of semiconductor factories and pharmaceutical projects, in addition to some general industrial and defense related investments," Fisher wrote.UBS upgraded its 2027 growth outlook for non-residential construction to 6.7% from 6%, while lowering the 2026 view to show a 0.9% drop, all in nominal terms.The semiconductor industry has announced nearly $300 billion in year-to-date investments, according to the note. The CHIPS and Science Act, which became law in 2022, initially boosted capacity expansion, but companies have reassessed plans over the last one to two years."For some time, semiconductor manufacturers have remained relatively disciplined in their capacity expansion plans, preferring to add capacity in response to demand rather than build ahead of it," Fisher said. "That demand now appears firmly in place."Pharmaceutical companies have announced about $400 billion in new investments over the last two years, including a commitment of at least $20 billion from Eli Lilly (LLY), amid surging demand for weight loss drugs, the UBS note showed.Defense spending is also on the rise due to the evolving geopolitical situation."In addition to structural drivers discussed above, we think that cyclical drivers will add to growth," Fisher said.The Institute for Supply Management's purchasing managers' index has been expanding for eight months in a row following three years of sluggish performance, according to the brokerage. Separately, S&P Global (SPGI) said last week that manufacturing growth held steady sequentially in August.UBS said equipment rental firm United Rentals (URI) is the main beneficiary of the manufacturing capacity expansion.The brokerage is also positive on United Rentals' peer Equipmentshare.com (EQPT) and construction machinery names Oshkosh (OSK), Caterpillar (CAT), Deere (DE) and CNH Industrial (CNH).Materials providers like Martin Marietta Materials (MLM) and CRH (CRH) and some companies in the engineering and construction sector will also benefit from a pickup in factory activity, according to the note.

$CAT$CNH$CRH$DE$EQPT$LLY$MLM$OSK$SPGI$URI

US Markets5d ago

S&P 500 Second Quarter Earnings Outpace Forecast as Reporting Season Nears End, Oppenheimer Says

S&P 500 companies' second-quarter earnings growth continues to outpace early forecasts as the reporting season draws to a close, Oppenheimer Asset Management said Tuesday.With earnings season set to finish this week, profits reported so far are up 53.2% from a year earlier on a gain in revenue of 15.6%, Oppenheimer said.Prior to the start of the quarter, bottom-up estimates from FactSet put analysts' projected earnings growth at 23.6%, the anlaysts said.All sectors except healthcare posted earnings growth, led by energy with a 147% increase, followed by communication services with a gain of more than 113%, Oppenheimer said. Real estate was the only sector with single-digit percentage earnings growth.The healthcare sector saw earnings fall 6.5%, according to the report. Last week, medical-device maker Medtronic (MDT) lifted its full-year outlook after posting better-than-expected fiscal first-quarter results.Second-quarter S&P 500 earnings per share growth accelerated unexpectedly, tracking at 32% year over year based on data through Aug. 7, RBC Capital Markets said in a note. It "appears to be the new peak in S&P 500 EPS growth," surpassing the 30% rate seen in the first quarter despite expectations of a slowdown.Energy led all sectors in revenue growth at 42%, followed by technology and financials, Oppenheimer said.Recent US economic data, including August nonfarm payrolls and the Institute for Supply Management surveys for manufacturing and services, pointed to ongoing resilience in the US economy, John Stoltzfus, Oppenheimer Asset Management chief investment strategist, said in a note to clients. "Resilience remained the operative word," he said.The US economy added nearly three times the jobs expected in August, while the US services sector expanded at a faster rate sequentially in August amid solid demand, surveys from the ISM and S&P Global (SPGI) showed. The manufacturing sector continued to expand last month, with ISM seeing a slight sequential deceleration, but S&P data showed a steady growth rate."For all the noise in and around the stateside market over much of this year, last Friday found the S&P 500 just 1% off from its most recent record high of 7798.99 reached on August 13," Stoltzfus wrote.The four remaining S&P 500 companies are scheduled to report earnings this week, including cloud computing giant Oracle (ORCL) and Photoshop maker Adobe (ADBE), Oppenheimer said.Price: $434.11, Change: $-9.40, Percent Change: -2.12%

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Wire9d ago

S&P Global Ratings Upgrades Teva Pharmaceutical to 'BBB-'

S&P Global Ratings (SPGI) said Friday it raised its rating on Teva Pharmaceutical (TEVA), including its issuer credit rating and issue-level rating on the company's unsecured debt, to 'BBB-' from 'BB+'.Teva has demonstrated sustainable growth prospects through strong execution in branded products, stabilization in generics, and a pipeline of significant late-stage assets, supporting S&P Global Ratings' view of its earnings durability, at least over the next two years, S&P Global said.

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US Markets10d ago

Services Sector Growth Accelerates Amid Strong Demand, ISM, S&P Surveys Show

The US services sector expanded at a faster rate sequentially in August amid solid demand, two surveys showed Thursday, though the reports pointed to a contrasting employment situation.The Institute for Supply Management's purchasing managers' index rose to 55.4 last month from 54.1 in July. The consensus was for a 54.1 print in a Bloomberg poll. A reading above 50 indicates the services sector economy is generally expanding.The new orders index jumped to 60.9 from 57.2, while the business activity gauge rose to 61.7 from 59.1. The prices index grew 2.3 points sequentially to 72.6 in August, reaching its highest since August 2022. The employment reading ticked up to 47.8 from 47.4, but remained in the contraction territory for a second straight month, the ISM survey showed."As a potentially positive sign for employment, there was a slight reduction in the share of companies cutting staff levels," said Steve Miller, chair of the ISM's services business survey committee. "The business activity and new orders indexes at multiyear highs could signal a shift to increased employment in the services sector."Separately, TD Economics said the latest ISM report not only gives the Federal Reserve "little reason to ease (monetary policy), but keeps the possibility of a rate hike in play despite weak hiring."Markets are now pricing in a 50% probability that the Fed will increase its benchmark lending rate by 25 basis points later this month, compared with 63% Wednesday, according to the CME FedWatch tool. The probability that the central bank will keep interest rates steady rose to 50% from 37%.A separate S&P Global (SPGI) survey showed Thursday that its services PMI rose to 56.5 in August from 54.6 the month prior, marking the strongest growth in 20 months amid robust demand. Growth in new businesses rose at the sharpest rate since the end of 2024, driven by new customer wins, according to the data provider.Input costs and selling prices rose at slower rates last month, though inflationary pressures remain elevated. Employment growth hit the highest since January 2025, the report showed."Business activity growth across the private sector accelerated in August, marking a clear shift in gear for the US economy," S&P Global Market Intelligence Economist Usamah Bhatti said. "Survey data now point to (gross domestic product) growing at an annualized rate of 3% in the third quarter, up solidly from the meagre 1.5% recorded in the previous quarter."Earlier this week, two surveys showed the US manufacturing sector continued to expand last month, with Institute for Supply Management data pointing to a slight deceleration sequentially and S&P indicating a steady growth rate.Price: $446.96, Change: $+15.25, Percent Change: +3.53%

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US Markets12d ago

Update: Wall Street's Pullback Deepens as Oil, Yields Surge

(Updates with market moves at the end of the day, and other changes, if any.)US equity benchmarks fell for a third straight session on Tuesday as traders fretted over surging oil prices and bond yields.The Nasdaq Composite closed 1% lower at 26,099.77, while the Dow Jones Industrial Average declined 0.8% to 52,766.88. The S&P 500 lost 0.7% to 7,631.47. Most sectors were in the red, led by consumer discretionary, while energy paced the gainers.West Texas Intermediate crude oil jumped 5.7% to $90.63 a barrel in Tuesday late-afternoon trade, while Brent advanced 5.1% to $95.11.The US military launched fresh attacks on Iran, striking Islamic Revolutionary Guard Corps targets, the US Central Command said Tuesday in a post on social media platform X.Iran vowed to retaliate and would "deliver crushing and devastating blows" against the "American enemy," state broadcaster IRIB reported, according to CNN.The latest US military actions came after Iran attacked US bases in Jordan, in retaliation for Washington striking Iranian rocket launchers on Tehran's Larak Island on Sunday.US Treasury yields jumped, with the 10-year rate up 3.4 basis points at 4.79%, reaching its highest level since January 2025. The two-year yield rose 4.4 basis points to 4.39%."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 to. "They force analysts to discount higher earnings more aggressively, thus forcing (price-to-earnings) multiples downward."Markets are now pricing in a 68% probability that the Federal Reserve will increase its benchmark lending rate by 25 basis points later this month, compared with about 40% a week ago, according to the CME FedWatch tool. The probability that the Fed will keep interest rates steady fell to 32% from 60%.The Fed 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 Friday that the central bank's primary focus should be on prices, given that the US is doing well on the employment front.In economic news, the US manufacturing sector continued to expand in August, with an Institute for Supply Management survey pointing to a slight deceleration sequentially and S&P Global (SPGI) data indicating a steady growth rate.Official data are expected to show Friday that US economy added 55,000 nonfarm jobs in August, according to a Bloomberg-polled consensus. Employment unexpectedly fell in July amid a marked decline in government payrolls.In company news, Nio (NIO) posted a 69% year-over-year increase in its second-quarter revenue amid growth in vehicle deliveries, which are expected to continue rising in the ongoing quarter. The Chinese electric vehicle maker's American depositary receipts fell 4%.Palo Alto Networks (PANW) shares declined 5.2%. The company released its quarterly results after the closing bell Tuesday.Spot gold lost 2.5% to $4,328.41 per troy ounce, while silver dropped 3.4% to $64.72 per ounce.

Dow JonesNasdaq CompositeS&P 500$NIO$PANW$SPGI

Sectors12d ago

Sector Update: Financial Stocks Decline Late Afternoon

Financial stocks fell in late Tuesday afternoon trading with the NYSE Financial Index declining 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.8%.The Philadelphia Housing Index shed 2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.3%.Bitcoin (BTC-USD) fell 1.7% to $77,205, and the yield for 10-year US Treasuries rose 3.8 basis points to 4.796%.In economic news, US job openings rose to 7.271 million in July, according to the Bureau of Labor Statistics, below 7.313 million expected in a survey compiled by Bloomberg and up from 7.182 million in June.The Institute for Supply Management's US manufacturing index fell to 54.6 in August from 55.6 in July, compared with expectations for 55.2 in a survey compiled by Bloomberg.The first look at consumer confidence for September improved from August, with the RealClearMarkets' monthly index rising to 45.6 from 45.1. The gauge was the highest since March.In corporate news, Bank of America's (BAC) Erin Piacenti, vice president of the business selection and conflicts unit, died at the hospital after being stabbed in Times Square Monday, multiple media outlets reported Tuesday, citing the New York City Police Department and the bank's statement. The suspect, Pamela Cisneros, first stabbed a man in the abdomen as he stood with his wife waiting to cross the street, and then continued north on Seventh Avenue and stabbed Piacenti in the abdomen near 42nd Street, Bloomberg reported. NYPD Commissioner Jessica Tisch said the attacks appeared to be random and unprovoked, and the suspect had a history of mental health issues, Reuters reported. Bank of America shares were down 0.1%.S&P Global (SPGI) is considering spinning out Capital IQ Pro, a move that could create a standalone firm worth billions of dollars, Bloomberg reported. S&P is in the early stages of weighing its options for its flagship data and research platform, the report said, adding that the unit could fetch a valuation in the high single-digit billions of dollars in a spinoff scenario. S&P Global shares were up 1.1%.Apollo Global Management-backed (APO) Brightspeed informed investors there is significant doubt it can continue as a going concern, Bloomberg reported. Apollo shares fell 3.8%.Blackstone (BX) and Apollo are among the private equity firms mulling bids for Syensqo's performance and care unit, which could be valued at 3 billion euros ($3.5 billion) or more, Bloomberg reported. Blackstone shares were down 4.7%.

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Sectors12d ago

Sector Update: Financial

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US Markets12d ago

Update: Equity Markets Fall Intraday as Oil, Yields Surge

(Updates with latest market prices and developments.)US benchmark equity indexes were lower intraday, as surging oil prices and bond yields kept inflation-wary traders on the edge.The Nasdaq Composite was down 1% at 26,113.9 after midday Tuesday. The Dow Jones Industrial Average shed 0.8% to 52,752.6, while the S&P 500 lost 0.7% to 7,633.2. The indexes finished the previous trading session lower.Among sectors, consumer discretionary led the laggards intraday Tuesday, while energy paced the gainers.West Texas Intermediate crude oil jumped 4.4% to $89.57 a barrel, while Brent advanced 3.9% to $94.04.The US military launched fresh attacks on Iran, striking Islamic Revolutionary Guard Corps targets, the US Central Command said Tuesday in a post on social media platform X.Washington is striking "Iranian targets" near the Strait of Hormuz, US President Donald Trump said Tuesday."If the failed nation of Iran retaliates for this very justified attack, they will be hit again at a much harder and higher level," Trump said in a social media post.The latest US military actions came a day after Iran reportedly attacked US bases in Jordan and the United Arab Emirates, in retaliation for Washington striking Iranian rocket launchers on Tehran's Larak Island.US Treasury yields jumped intraday Tuesday, with the 10-year rate up 3.2 basis points at 4.79%, reaching its highest level since January 2025. The two-year yield rose 3.9 basis points to 4.39%.Government borrowing costs are surging "as rising oil prices continue to fuel inflation concerns and as investors increase expectations for firmer (Federal Reserve) policy," Stifel said in a note to clients.Markets are now pricing in a 68% probability that the US central bank will increase its benchmark lending rate by 25 basis points later this month, compared with about 40% a week ago, according to the CME FedWatch tool. The probability that the Fed will keep interest rates steady fell to 32% from 60%.The Fed should tighten monetary policy unless inflation cools down as hoped, Governor Michael Barr said Tuesday, adding to a growing chorus of hawkish views from policymakers. In his debut Jackson Hole speech as Fed chief on Friday, Kevin Warsh said that the central bank's primary focus should be on prices, given that the US is doing well on the employment front.In economic news, the US manufacturing sector continued to expand in August, with an Institute for Supply Management survey pointing to a slight deceleration sequentially and S&P Global (SPGI) data indicating a steady growth rate.In company news, Nio (NIO) posted a 69% year-over-year increase in its second-quarter revenue amid growth in vehicle deliveries, which are expected to continue rising in the ongoing quarter. The Chinese electric vehicle maker's American depositary receipts were down 4.5% intraday.Palo Alto Networks (PANW) shares fell 6.1%, among the worst performers on the S&P 500.Palo Alto is scheduled to report its latest quarterly financial results after the closing bell Tuesday, along with Dell Technologies (DELL), MongoDB (MDB) and others.Spot gold was down 2.1% at $4,344.51 per troy ounce, while silver dropped 2.4% to $65.40 per ounce.

Dow JonesNasdaq CompositeS&P 500$DELL$MDB$NIO$PANW$SPGI

Wire12d ago

Market Chatter: S&P Global Mulls Spinout of Capital IQ Pro

S&P Global (SPGI) is considering spinning out Capital IQ Pro, a move that could create a standalone firm worth billions of dollars, Bloomberg reported Tuesday, citing people familiar with the matter.S&P is in the early stages of weighing its options for its flagship data and research platform, the report said, adding that the unit could fetch a valuation in the high single-digit billions of dollars in a spinoff scenario.S&P Global didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $449.05, Change: $+13.21, Percent Change: +3.03%

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Wire12d ago

S&P Global Mulls Multibillion-Dollar Spinout of Capital IQ Pro, Bloomberg Reports

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US Markets12d ago

ISM Manufacturing Survey Points to Slower Growth Rate; S&P Indicates Steady Expansion

The US manufacturing sector continued to expand in August, with an Institute for Supply Management survey pointing to a slight deceleration sequentially and S&P Global (SPGI) data indicating a steady growth rate.The ISM's purchasing managers' index fell to 54.6 last month from 55.6 in July, but marked the eighth consecutive month of expansion, according to a Tuesday statement. July's reading was the highest for the index since May 2022. The consensus was for a 55.2 print for August in a Bloomberg poll. A reading above 50 indicates the manufacturing sector is generally expanding."Manufacturing is still expanding at a healthy pace, but the August details point to some loss of momentum after July's surge," TD Economics Senior Economist Vikram Rai said in a note. "Strong production and low customer inventories remain supportive, while weaker new orders, backlogs and imports suggest growth is likely to moderate rather than accelerate in the near term."The new orders index declined to 53.7 in August from 56.7 the month prior, while production edged down to 58.3 from 58.5. The employment measure dropped to 51.2 from 52.8, while the prices gauge remained steady at 71.1, ISM data showed."Moderating demand growth complicates the otherwise strong inflation signal," Rai added. "Softer orders and employment point to some easing in demand-side pressure, but persistently elevated input costs and respondents' repeated focus on supply-chain challenges suggest that goods inflation could remain firm even as manufacturing growth slows."Separately, S&P Global said its manufacturing PMI remained unchanged at 53.9 sequentially in August. Growth in production and order books eased amid elevated prices and "tight" supply conditions, largely due to the Middle East conflict and tariff uncertainty, the data provider said.Firms created jobs last month at the fastest rate recorded so far this year, while input cost inflation eased further from May's peak to a five-month low, the report showed."Although purchasing activity and preproduction inventories increased further, manufacturers continued to report difficulties sourcing and receiving raw materials because of supply delays and price rises," S&P Global Market Intelligence Economist Usamah Bhatti said. "These pressures were commonly linked to the war in the Middle East, which has exacerbated existing supply and inflationary pressures from tariffs."Firms' expectations for year-ahead output hit the highest level in three months, driven by optimism for an end to the US-Iran war and a smoother domestic policy environment, according to the report."Firms also noted that greater stability in conditions were likely to support business expansion and customer retention plans," Bhatti said.Price: $428.28, Change: $-7.56, Percent Change: -1.73%

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Wire12d ago

S&P Global Closes Acquisition of datacenterHawk

S&P Global (SPGI) said Tuesday it has completed its acquisition of datacenterHawk, a provider of intelligence for global data center, fiber optic, and related infrastructure markets.The company said datacenterHawk is now part of S&P Global Energy. Financial terms of the transaction were not disclosed.Price: $428.56, Change: $-7.28, Percent Change: -1.67%

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Wire12d ago

S&P Global Completes Sale of Upstream Energy Software Portfolio to SLB

S&P Global (SPGI) said Tuesday it has completed the sale of its geoscience and petroleum engineering software portfolio to SLB (SLB).The company said customers can still access S&P Global Energy data through the divested tools via a strategic alliance with SLB.The transaction was first announced in April. Financial terms were not provided.S&P Global said the deal is not expected to have a material impact on its consolidated financial results or on those of its Energy division.S&P Global also confirmed the rollout of Titan, an AI-powered upstream data platform.Price: $430.10, Change: $-5.74, Percent Change: -1.32%

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Wire18d ago

S&P Global Faces Solid Secular Tailwinds That Should Fuel Top-Line Growth, RBC Says

S&P Global (SPGI) faces solid secular tailwinds that should help top-line growth, while margin expansion and capital allocation should deliver mid-teens earnings per share growth in 2027 and 2028, RBC Capital Markets said in a Wednesday note.The company has highlighted strong nominal gross domestic product growth, artificial intelligence-related capex buildout, and an approximate $11 trillion refinancing wall over the next 4.5 years collectively underpin a "compelling" multi-year revenue growth opportunity, RBC said.While the Ratings business faces harder comparisons in H2, the company's medium-term Ratings revenue growth framework does not fully capture the potential upside from AI capex-related issuance, RBC further said.Additionally, the company's Market Intelligence segment revenue growth is likely stable near-term, while improving in the medium term driven by AI, model context protocol traction, sales cycle normalization in the next few quarters, according to the note.RBC maintained its outperform rating with a $510 price target.Price: $433.33, Change: $+1.31, Percent Change: +0.30%

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US Markets19d ago

July New Home Sales Fall More Than Expected Despite Price Drop

New home sales in the US decreased more than projected last month even as median prices moved lower, government data showed Tuesday.Sales of new single-family homes fell nearly 11% sequentially to a seasonally adjusted annual rate of 607,000 in in July, the Census Bureau and the Department of Housing and Urban Development said. Analysts polled by Bloomberg expected a print of 620,000.The median price of new houses sold decreased 2.3% to $393,800 last month.New home sales slumped 43% and 13% in the Midwest and South, respectively. The Northeast and West logged growth of 30% and 6.2%, respectively, according to the report.Last week, official data showed that housing starts fell more than expected in July amid declines in both single and multi-family units, while building permits jumped to a five-month high.Separately, S&P Global (SPGI) division S&P Dow Jones Indices said Tuesday that US home price growth accelerated annually in June, while values dropped in real terms for a 13th straight month.The national S&P Cotality Case-Shiller Index rose 1.5% year over year in June without seasonal adjustments, up from a 1.2% gain the month prior, according to the data provider."While home prices continue to decline in real terms, lower inflation and firmer nominal home price growth in June helped slow that pace of erosion," said Rebecca Kaufman, associate director of commodities at S&P Dow Jones Indices. With 30-year mortgage rates hovering around 6.5%, the housing market continued to be under pressure, according to Kaufman."As financing costs are kept high for prospective buyers, current homeowners remain reluctant to give up the low mortgage rates secured in prior years," Kaufman said. "Because June typically falls near the peak of the homebuying season, price appreciation often moderates and market activity cools in the months ahead."Meanwhile, the Federal Housing Finance Agency said US home prices were unchanged month over month in June. In the second quarter, prices advanced 2.1% annually and 0.3% sequentially.Price: $433.70, Change: $-1.72, Percent Change: -0.40%

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US Markets23d ago

Update: Wall Street Trims Weekly Losses With Friday's Gains

(Updates with market moves at the end of the day, and other changes, if any.)US stocks rose Friday, trimming losses for the week on Wall Street, as bond yields continued to march higher.The Dow Jones Industrial Average climbed 1% to 53,277.01. The S&P 500 and the Nasdaq Composite each rose 0.4% to close at 7,674.37 and 26,180.46, respectively. Most sectors were in the green, led by materials, while utilities saw the steepest decline.The three indexes dropped to their lowest levels in more than two weeks on Thursday.This week, the Nasdaq shed 2.1%, while the S&P 500 lost 1.4%, with both indexes logging their first weekly declines following three consecutive weekly advances. The Dow saw a loss of 0.9%, marking its second consecutive weekly fall.US Treasury yields were higher, with the two-year yield increasing 4.9 basis points to 4.23% and the 10-year rate gaining 3.4 basis points to 4.73%. The 30-year rate was up 3.6 basis points at 5.27%.The Treasury Department on Wednesday surprised markets with an announcement that it will at least double the size of its buybacks for longer-dated Treasuries, to $4 billion per operation.The 10-year yield fell on Wednesday, but "the market pushed back on this 'mini twist' idea on Thursday and Friday," Jefferies said in a note.Treasury Secretary Scott Bessent told CNBC on Thursday that the planned buybacks could be worth more than $4 billion per issue."Despite Bessent's threat to ramp up buybacks further on Thursday, the move mostly glosses over the fundamental problem of too much debt and could complicate the (Federal Reserve's) efforts to rein in inflation," Scott Anderson, chief US economist at BMO, said in a report. "Bond investors will be looking toward Kevin Warsh's first Jackson Hole speech as Fed chair next week to bring more clarity on his view of inflation and plans for monetary policy."West Texas Intermediate crude oil was down 0.2% at $86.67 a barrel in Friday late-afternoon trade, while Brent edged up 0.1% to $93.91. The benchmarks were on track to log their second consecutive weekly gains.In economic news, US private-sector output growth hit a 52-month high amid a surge in services activity, while price pressures eased and employment rose sharply, S&P Global's (SPGI) flash purchasing managers' index showed.In company news, Ross Stores (ROST) jumped 4.4% as the off-price apparel and home fashion chain lifted its full-year earnings outlook on the back of stronger-than-expected fiscal second-quarter results.BJ's Wholesale Club's (BJ) fiscal second-quarter results came in ahead of Wall Street's estimates, prompting the warehouse club operator to lift its full-year earnings outlook. The stock advanced 5.6%.Spot gold advanced 2.2% to $4,617.45 per troy ounce, while silver climbed 1.9% to $70.21 per ounce.

Dow JonesNasdaq CompositeS&P 500$BJ$ROST$SPGI

US Markets23d ago

Update: Equities Rebound Intraday as Yields Rise

(Updates with latest market prices and developments.)US equities rebounded intraday following Thursday's steep losses, but Wall Street was still headed for weekly declines amid rising bond yields.The Dow Jones Industrial Average was up 0.8% at 53,169.5 after midday Friday. The S&P 500 and the Nasdaq Composite each rose 0.5% to 7,678.1 and 26,187.6, respectively. Among sectors, materials paced the gainers, while utilities saw the steepest decline.The three indexes dropped to their lowest levels in more than two weeks on Thursday.The Dow was on track for its second consecutive weekly fall, while both the S&P 500 and the Nasdaq headed toward their first weekly losses following three consecutive weekly advances.US Treasury yields were higher intraday, with the two-year yield increasing 4.5 basis points to 4.23% and the 10-year rate gaining 3.4 basis points to 4.73%. The 30-year rate was up 3.7 basis points at 5.27%."The past 24 hours saw renewed pressure in bond markets as the rally following the US Treasury's announcement on Wednesday that it would expand its buyback operations faded," Deutsche Bank said in a report.The Treasury Department earlier this week said it will at least double the size of its buybacks for longer-dated Treasuries, to $4 billion per operation.Treasury Secretary Scott Bessent told CNBC on Thursday that his department could increase its planned buybacks to more than $4 billion per issue.West Texas Intermediate crude oil was up 0.4% at $87.18 a barrel, while Brent rose 0.9% to $94.59. The benchmarks were on track to log their second consecutive weekly gains.In economic news, US private-sector output growth hit a 52-month high amid a surge in services activity, while price pressures eased and employment rose sharply, S&P Global's (SPGI) flash purchasing managers' index showed.In company news, Ross Stores (ROST) jumped 5.8% intraday as the off-price apparel and home fashion chain lifted its full-year earnings outlook on the back of stronger-than-expected fiscal second-quarter results.BJ's Wholesale Club's (BJ) fiscal second-quarter results came in ahead of Wall Street's estimates, prompting the warehouse club operator to lift its full-year earnings outlook. The stock was up 5% intraday.Walmart (WMT) was down 0.9%, the worst performer on the Dow, after a 9.2% slump in the previous session. The retailer's mixed second-quarter performance has raised questions around the trajectory of its core US business, though its new business model could drive growth in the long term, UBS said in a note.Spot gold advanced 2.4% to $4,622.94 per troy ounce, while silver climbed 2.6% to $70.70 per ounce.

Dow JonesNasdaq CompositeS&P 500$BJ$ROST$SPGI$WMT

Wire23d ago

Private-Sector Growth Reaches 52-Month High Amid Services Boost as Price Pressures Ease

US private-sector output growth hit a 52-month high amid a surge in services activity, while price pressures eased and employment rose sharply, S&P Global's (SPGI) flash purchasing managers' index showed Friday.The composite output index increased to 56 this month from 54.5 in July, marking the fastest growth since April 2022, the data provider said. The consensus was for a 54 reading in a survey compiled by Bloomberg. The 50-point mark separates expansion from contraction.The measure for services output reached a 20-month high of 56.8 in August, compared with 54.6 last month, while Wall Street projected a reading of 54. The manufacturing PMI hit a five-month low of 53.2 versus the consensus for an unchanged reading of 53.9."The survey data for the third quarter are currently pointing to annualized growth approaching 3%, up solidly from the 1.5% pace seen in the second quarter," S&P Global Market Intelligence Chief Business Economist Chris Williamson said. "Growth momentum has meanwhile shifted from manufacturing to services between the second and third quarters."Services sector activity recovered from a "sluggish" rate seen in the second quarter, while the manufacturing weakness this month was partly due to reduced inventory building and supply delays, the report showed.Price pressures "moderated" in August, especially in terms of selling price inflation, S&P said. Input cost inflation remained high amid elevated energy prices. Firms added jobs this month at the fastest rate since the start of last year, the report showed."Supply delays were again reported in August to one of the greatest extents seen over the past four years, clearly constraining output in many companies," Williamson said. "Price pressures, while fading, also remain elevated and prone to renewed upward pressures should energy prices rise again."Crude oil price benchmarks were headed for their second consecutive weekly gains Friday amid renewed tensions between the US and Iran, as a 60-day ceasefire expired Monday without a final deal.Business growth expectations reached a nine-month high in August, improving for a third month in a row, with confidence in both manufacturing and servicing picking up, according to S&P.The improved outlook was due to "a combination of order book backlogs, rising customer enquiries, expansion plans, and an easing of concerns over the economic impacts of tariffs and the war in the Middle East," the data provider said Friday.Price: $432.12, Change: $-0.04, Percent Change: -0.01%

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US Markets26d ago

July Industrial Production Rises Less Than Forecast as Manufacturing Growth Decelerates

US industrial production increased less than expected in July as manufacturing growth decelerated, Federal Reserve data showed Tuesday.Industrial production rose 0.2% last month, following a 0.3% increase in June, the Fed said. The consensus was for a 0.3% increase for July in a survey compiled by Bloomberg.Manufacturing output increased 0.2% last month, following a 0.3% gain in June and matching Wall Street's views.Durable manufacturing production increased 0.7% in July, with most categories seeing a rise of more than 1%, according to Fed data."The details were robust for the most part," BMO Capital Markets Senior Economist Priscilla Thiagamoorthy said in a note.Nondurable goods production dropped 0.4% last month, with increases in the output of textile and product mills and petroleum and coal products more than offset by drops in other categories, according to the Fed.Mining output rose 0.2% in July, while utilities grew 0.5%, with the electric component seeing a similar increase, the data showed."Overall, the report points to a factory sector that continues to expand amid the (artificial intelligence) buildout," Thiagamoorthy said.Earlier this month, two separate surveys showed US manufacturing sector continued to grow in July, with Institute for Supply Management data indicating the fastest expansion rate in more than four years and S&P Global (SPGI) signaling steady growth pace.Price: $421.54, Change: $+11.01, Percent Change: +2.68%

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US Markets38d ago

July Home Sales Log Strongest Annual Growth of 2026 But Could Mark Year's Peak, Zillow Says

US home sales in July logged their strongest annual gain for the year, though certain key indicators suggest a slower second half, Zillow Group (Z, ZG) said Thursday.Sales rose 7% year over year to 382,898 homes last month. Newly pending listings -- which the real estate marketplace said is a leading indicator of future closings -- rose 0.3% annually, but dropped 7.7% sequentially in July.The latest sales data reflect contracts signed weeks earlier, when mortgage rates were hovering in a range of 6.5%. A surge in oil prices last month amid renewed hostilities between the US and Iran sent mortgage rates higher, which is expected to have prompted many home shoppers to pause their search, according to Zillow."July was a strong month for existing home sales, but unfortunately it may represent the peak of what we can expect for the rest of the year," Zillow Chief Economist Mischa Fisher said. "Closed sales in July mostly reflect offers accepted in June, when underlying pent-up demand for housing, combined with an improving rate environment, drove strong activity."There were 1.41 million homes for sale in the US last month, with active inventory up 1.5% from a year earlier. Home values are up 1.1%, the report showed."The affordability edge that has been a silver lining to an otherwise disappointing home shopping season may disappear in the coming months," Zillow said. "Unless they reverse course, mortgage rates will be higher than last year in August, likely enough to push the typical mortgage payment above year-ago levels."Last week, S&P Global (SPGI) division S&P Dow Jones Indices said US home price growth accelerated annually in May, though values dropped in real terms for a 12th straight month amid continued affordability headwinds.Price: $32.82, Change: $-3.28, Percent Change: -9.09%

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