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Sectors

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.4%.The Philadelphia Semiconductor index was down 1.6%.In corporate news, Alphabet's (GOOGL) Q2 revenue beat Wall Street's estimates amid demand for AI infrastructure, but its capital expenditure doubled year over year. Its shares fell 7%.STMicroelectronics (STM) shares tumbled past 18% after its Q3 revenue outlook fell short of analysts' consensus.Intel (INTC) and Advanced Micro Devices (AMD) are signing longer-term contracts to sell data center processors, or chips, to China-based server customers, Reuters reported. Intel shares were down 2.4%, and AMD fell 2.8%.Amazon.com-backed (AMZN) Anthropic is considering requiring all employees to sell any shares through 10b5-1 stock plans, The Information reported. Because 10b5-1 stock plans require the sale of shares on preset schedules, they are intended to protect against insider trading accusations. However, they're typically only for top-level executives. Amazon shares were down 4.6%.

$AMD$AMZN$GOOGL$INTC$STM
Sectors

Sector Update: Tech

Tech stocks were lower late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.4%.The Philadelphia Semiconductor index was down 1.6%.In corporate news, STMicroelectronics (STM) shares tumbled past 18% after its Q3 revenue outlook fell short of analysts' consensus.

$STM
Wire

Update: STMicroelectronics Shares Drop After Q3 Revenue Outlook Falls Short of Consensus

(Updates with recent stock movement in headline and first paragraph.)STMicroelectronics (STM) shares plunged 18% in afternoon trading on Thursday after the company's Q3 revenue outlook fell short of analysts' consensus.The company reported Q2 non-GAAP earnings of $0.31 per diluted share, up from $0.06 a year earlier.Analysts polled by FactSet expected $0.28 per share.Revenue for the quarter ended June 27 was $3.49 billion, up from $2.77 billion a year earlier.Analysts polled by FactSet expected $3.47 billion.The company expects Q3 revenue of $3.7 billion, representing a sequential increase of 6.2%, plus or minus 350 basis points. Analysts polled by FactSet are expecting $3.79 billion.Price: $53.85, Change: $-11.92, Percent Change: -18.12%

$STM
Asia Markets

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Thursday Amid Major Tech Stocks Sell-Off

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.6%, and the actively traded Invesco QQQ Trust (QQQ) retreated 0.9% in Thursday's premarket activity, as a selloff in major technology stocks follows corporate earnings.US stock futures were also lower, with S&P 500 Index futures down 0.3%, Dow Jones Industrial Average futures slipping 0.3%, and Nasdaq futures retreating 0.3% before the start of regular trading.US initial jobless claims decreased to a level of 187,000 in the employment survey week ended July 18, the lowest level since 1969, from an upwardly revised 209,000 level in the previous week, compared with expectations for an increase to 210,000 in a survey of analysts compiled by Bloomberg.Weekly natural gas stocks are due to be released at 10:30 am ET, followed by the Kansas City Fed's manufacturing index for July at 11:00 am ET.In premarket action, bitcoin was down by 0.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.9% lower, Ether ETF (EETH) retreated 0.04%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.02.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.7%, the iShares US Technology ETF (IYW) was 1.1% lower, and the iShares Expanded Tech Sector ETF (IGM) was down 0.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was up 0.1%, while the iShares Semiconductor ETF (SOXX) fell by 1.9%.STMicroelectronics (STM) shares were down more than 13% in premarket activity even after the company reported higher Q2 non-GAAP earnings and revenue.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 1.3%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 1.8%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 1.2% lower.Tesla (TSLA) shares fell more than 7% pre-bell after the electric vehicle manufacturer reported an unexpected year-over-year decline in its Q2 earnings, weighed down by higher operating expenses related to research and development and artificial intelligence initiatives.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) was down 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.7%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% higher.Ameriprise Financial (AMP) shares traded up 2% in early-hours activity after the company reported higher Q2 adjusted earnings and revenue.EnergyThe iShares US Energy ETF (IYE) rose 1.2%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1.8%.TotalEnergies (TTE) stock was up more than 2% before market open after the company reported higher Q2 adjusted earnings and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.1%, the Vanguard Industrials Index Fund (VIS) was 0.04% lower, and the iShares US Industrials ETF (IYJ) was up 1%.Union Pacific Railroad (UNP) and Canadian National Railway (CNI) shares rose more than 1% before the opening bell after the companies signed a binding memorandum of understanding establishing a framework for CN to secure competitive access in connection with the proposed merger between Union Pacific and Norfolk Southern (NSC). Norfolk Southern shares were 0.7% lower.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) slipped 0.4%. The iShares Biotechnology ETF (IBB) was 0.1% lower.AstraZeneca (AZN) stock was down more than 1% premarket following a 0.2% gain at the prior close. The company said that the European Commission approved its experimental drug, Etcamah, in combination with a CDK4/6 inhibitor, for adults with a type of breast cancer harboring an ESR1 mutation that emerges during first-line endocrine therapy, after the Phase 3 SERENA-6 trial met its primary endpoint.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 4.3% to $90.56 per barrel on the New York Mercantile Exchange. Natural gas was up by 1.1% to $2.96 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 4.8%, while the United States Natural Gas Fund (UNG) was 1.8% higher.Gold futures for July retreated 1.5% to $4,087.80 an ounce on the Comex. Silver futures were down 2.5% to $58.81 an ounce. SPDR Gold Shares (GLD) decreased 1.7%, and the iShares Silver Trust (SLV) was 3% lower.

Dow JonesNasdaq CompositeS&P 500$AMP$AZN$BETH$BITO$CNI$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NSC$PMR$QQQ$RTH$SLV$SOXX$SPY$STM$TSLA$TTE$UNG$UNP$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

European Equities Traded in the US as American Depositary Receipts Decline Friday

European equities traded in the US as American depositary receipts were lower on Friday morning, shedding 0.6% to 1,899.52 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by energy companies Equinor (EQNR) and Eni (E), which climbed 4.1% and 3.1% respectively.They were followed by biotech companies Genenta Science (GNTA) and DBV Technologies (DBVT), which added 3% and 2.2%.The decliners from continental Europe were led by tech company Nokia (NOK), which dropped 3%, and semiconductor companies STMicroelectronics (STM) and ASML (ASML), which fell 2.6% each.They were followed by software company SAP (SAP), which shed 1.8%.From the UK and Ireland, the gainers were led by pharmaceutical company Compass Pathways (CMPS), which climbed 4.8%, and energy companies Shell (SHEL) and BP (BP), which added 2.3% and 1.4% respectively.The decliners from the UK and Ireland were led by budget airline Ryanair (RYAAY) and pharmaceutical company GSK (GSK), which lost 3.6% and 2.8% respectively. They were followed by bank Barclays (BCS), which shed 2.1%.

$ASML$BCS$BP$CMPS$DBVT$E$EQNR$GNTA$GSK$NOK$RYAAY$SAP$SHEL$STM
Sectors

Sector Update: Tech Stocks Fall Thursday Afternoon

Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.4% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 6%.The Philadelphia Semiconductor index shed 4.3%.In corporate news, Taiwan Semiconductor Manufacturing (TSM) shares fell 3.3% despite the company's Q2 earnings and revenue surpassing analysts' consensus estimates. Shares of STMicroelectronics (STM), Western Digital (WDC), and Seagate Technology (STX) were also down as part of a larger decline in the tech sector. STMicroelectronics shares fell 7.5%, Western Digital stock dropped more than 10%, and Seagate shed 9.3%.Apple (AAPL) is readying a new iPad mini model with significant updates, including an OLED screen for the first time, Bloomberg reported. Apple shares rose 1.4%.Alphabet (GOOGL) is likely to deliver strong Q2 results amid strength in its cloud business, while the tech giant may raise its capital expenditure outlook, BofA Securities said Thursday. Alphabet shares were 0.2% higher.

$AAPL$GOOGL$STM$STX$TSM$WDC
Asia Markets

Update: US Equity Futures Edging Lower Pre-Bell as Traders Cautious on Tech, US Strikes Iran Targets Anew

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Thursday as traders saw tech stocks trend downwards and the US unleashed another round of strikes against Iran.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were down 0.4%, and Nasdaq futures were 1% lower.SK Hynix (SKHY) stock fell more than 11% in Seoul and 8% in premarket activity on the Nasdaq.US Central Command said in a post on X that it completed another wave of attacks against Iran, holding the nation "accountable" at the direction of President Donald Trump.Iran warned that it would hit key infrastructure in the Gulf region if the US followed through on Trump's threats on Tuesday to strike Iranian infrastructure such as bridges and power plants if progress on peace talks was not achieved.Traders took note of the latest round of earnings with Taiwan Semiconductor Manufacturing (TSM) posting higher Q2 earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.3% at $86.06 per barrel and US West Texas Intermediate crude 1.3% higher at $80.66 per barrel.US retail sales rose by 0.2% in June, following a 1.0% gain in the prior month and meeting expectations in a survey compiled by Bloomberg. Initial jobless claims dropped to 208,000 in the week ended July 11 from 216,000 in the previous week, compared with expectations for an increase to 217,000. The Philadelphia Federal Reserve's monthly manufacturing index rose to 41.4 in July from 10.3 in June, compared with expectations for a smaller increase to a reading of 12.5.The July US housing market index, slated for 10 am ET, is expected at 35, unchanged from the prior month. Pending home sales for June are expected to decline by 0.5% after a gain of 3.8% in the prior month.Federal Reserve Dallas President Lorie Logan, Kansas City President Jeffrey Schmid, and Vice Chair Philip Jefferson are slated to speak on Thursday.In other world markets, Japan's Nikkei closed 2.8% lower, Hong Kong's Hang Seng ended 1.3% higher, and China's Shanghai Composite finished 1.9% lower. Meanwhile, the UK's FTSE 100 was down 0.4%, and Germany's DAX index was 0.9% lower in Europe's early afternoon session.In equities, Taiwan Semiconductor Manufacturing shares were 4.2% lower despite the company's Q2 earnings and revenue surpassing analysts' consensus estimates. Stocks of STMicroelectronics (STM), Western Digital (WDC), and Seagate Technology (STX) were down as part of a larger decline in the tech sector. STMicroelectronics shares fell 4.8%, Western Digital stock was down 7.7%, and Seagate Technology shares dropped 6.5%.On the winning side, UnitedHealth Group (UNH) stock was up 6.7% after the company reported Q2 adjusted earnings and revenue that beat analyst estimates, as well as boosting its 2026 outlook. Baidu (BIDU) stock was up 2.1% after the company said its board approved a plan to pursue a voluntary conversion to a dual-primary listing on the Hong Kong Stock Exchange, while maintaining its primary listing on the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$BIDU$SKHY$STM$STX$TSM$UNH$WDC
Asia Markets

European Equities Traded in the US as American Depositary Receipts Rise Thursday

European equities traded in the US as American depositary receipts were rising on Thursday morning, up 0.5% to 1,905.06 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by technology giants Nokia (NOK) and Ericsson (ERIC), which gained 6% and 4.4% respectively. They were followed by semiconductor company STMicroelectronics (STM), which climbed nearly 4%.The decliners from continental Europe were led by clinical-stage biopharmaceutical company Inventiva (IVA) and steel producer ArcelorMittal (MT), which fell 4.3% and 1.5% respectively. They were followed by software company SAP (SAP), which shed 0.7%.From the UK and Ireland, the gainers were led by semiconductor company Arm (ARM) and bank HSBC (HSBC), which climbed 12% and 2% respectively. They were followed by bank Barclays (BCS), which added 1.8%.The decliners from the UK and Ireland were led by pharmaceutical company Compass Pathways (CMPS) and budget airline Ryanair (RYAAY), which decreased 2.2% and 1.5% respectively.

$ARM$BCS$CMPS$ERIC$HSBC$IVA$MT$NOK$RYAAY$SAP$STM
Sectors

Sector Update: Tech Stocks Advance Late Afternoon

Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.6%.The Philadelphia Semiconductor index rose 1.3%.In corporate news, Micron Technology (MU) shares gained 5% after it said Monday it is collaborating with Anthropic for memory and storage AI architecture design, product supply, and enterprise adoption of Claude, alongside an investment in Anthropic's series H funding round.Dell (DELL) shares climbed 1.6% after it introduced the PowerEdge XE8812, a new server designed to handle large AI-computing workloads and built with Nvidia's (NVDA) Vera Rubin platform.Alphabet's (GOOGL) Google DeepMind data scientist and Nobel Prize winner John Jumper is leaving to join Amazon (AMZN) and Alphabet-backed Anthropic, he said Friday. Alphabet shares were down 5.2%.STMicroelectronics (STM) shares rose 1.6% after the company said it released a new 3-dimensional light detection and ranging module designed for AI applications on small computing devices.

$DELL$GOOGL$MU$STM
Sectors

Sector Update: Tech Stocks Advance Monday Afternoon

Tech stocks were higher Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.7%.The Philadelphia Semiconductor index rose 1.4%.In corporate news, STMicroelectronics (STM) shares gained 2.2% after the company said it released a new 3-dimensional light detection and ranging module designed for AI applications on small computing devices.Alphabet's (GOOGL) Google DeepMind data scientist and Nobel Prize winner John Jumper is leaving to join Amazon (AMZN) and Alphabet-backed Anthropic, he said Friday. Alphabet shares were down 5.7%.SpaceX (SPCX) has started its first offering of senior unsecured notes, the proceeds of which will be used to repay outstanding borrowings under its bridge loan facility and to pay related fees and expenses, the company said Monday in a regulatory filing. Separately, SpaceX has signed a roughly $6.3 billion computing power agreement with Reflection AI, CNBC reported. SpaceX shares were falling past 10%.

$GOOGL$SPCX$STM
Sectors

Sector Update: Tech

Tech stocks were higher Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) adding 0.04% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 1.7%.The Philadelphia Semiconductor index rose 1%.In corporate news, STMicroelectronics (STM) shares gained 1.9% after the company said it released a new 3-dimensional light detection and ranging module designed for AI applications on small computing devices.

$STM
Sectors

Sector Update: Tech Stocks Advance Premarket Monday

Technology stocks were advancing premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.9% higher.STMicroelectronics (STM) shares were up more than 2% after the company said it released a new 3-dimensional light detection and ranging module designed for artificial intelligence applications on small computing devices.Getty Images (GETY) has entered into a display agreement with Microsoft (MSFT)-backed OpenAI, the company said. Getty Images stock surged past 118% pre-bell.ServiceNow (NOW) has tapped Inspira Enterprise as a trusted delivery partner, the companies said. Shares of ServiceNow were down more than 1% premarket.

$GETY$MSFT$NOW$STM$XLK$XSD
Sectors

Sector Update: Tech

Technology stocks were advancing premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.3% higher.STMicroelectronics (STM) shares were up more than 2% after the company said it released a new 3-dimensional light detection and ranging module designed for artificial intelligence applications on small computing devices.

$STM
Asia Markets

Update: US Equity Futures Largely Flat as Dow Climbs to New Record Amid Anticipated US-Iran Peace Deal Signing

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were firm pre-bell Tuesday as the Dow Jones Industrial Average climbed to a new record amid the anticipated signing of a peace deal between the US and Iran and the reopening of the Strait of Hormuz.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were flat, and Nasdaq futures were flat.The Dow gained 468.77 points, or 0.92%, on Monday, setting fresh intraday and closing records.Vice President JD Vance told CNBC in an interview that he expects the peace agreement to keep the Strait of Hormuz open "in a toll-free way for the long term." However, shippers say transit through the area remains unclear in the meantime, according to the report.Meanwhile, Elon Musk's Space Exploration Technologies (SPCX), known as SpaceX, continued its post-IPO rally, gaining 4.5% in pre-market activity.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.1% at $79.75 per barrel and US West Texas Intermediate crude 4.5% lower at $77.11 per barrel.May housing starts fell to a 1.177 million annual rate from 1.392 million in the previous month, compared with expectations for a 1.43 million rate in a survey compiled by Bloomberg.US import prices jumped 1.9% in May, above the 1% increase expected and below the 2% gain in April. US export prices rose by 1.3% in May, above the 0.9% gain expected and below the 3.5% increase in April.In other world markets, Japan's Nikkei closed 0.1% higher, Hong Kong's Hang Seng ended 1.4% lower, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was up 0.6%, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, Micron Technology (MU) shares rose 0.9% after RBC Capital Markets said in a report that the company has room for its memory-chip upcycle to continue for another five to six quarters, supported by stronger pricing, robust generative AI demand and limited industry supply growth. Qualcomm (QCOM) stock was up 3.3% after CNBC cited CEO Cristiano Amon as saying that the company is developing more than 40 new AI device designs as it prepares for the next wave of "agent" powered consumer electronics. Seagate Technology (STX) and Western Digital (WDC) shares were up 4.2% and 6.3% , respectively, after Morgan Stanley said in a note that the companies are expected to benefit from strengthening demand for hard disk drives.On the losing side, Tesla (TSLA) stock was down 1.2% after BloombergNEF said in a note that global electric vehicle sales are expected to be slower than previously expected, especially in the US, hurt by the withdrawal of regulatory support for electrification in the country. STMicroelectronics (STM) shares fell 1.8% after the company said it launched a $1.5 billion offering of senior unsecured convertible bonds and plans to redeem its outstanding $750 million zero-coupon convertible bonds due 2027.

Dow JonesNasdaq CompositeS&P 500$MU$QCOM$SPCX$STM$STX$TSLA$WDC
Sectors

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) adding 1% and the State Street SPDR S&P Semiconductor ETF (XSD) popping 5.8%.The Philadelphia Semiconductor index climbed 5.2%.In corporate news, Hewlett Packard Enterprise (HPE) shares jumped past 18% after the company reported fiscal Q2 earnings ahead of analysts' forecasts.Marvell Technology (MRVL) shares surged nearly 31% after multiple news outlets reported that Nvidia (NVDA) Chief Executive Jensen Huang called the chipmaker the next "trillion-dollar company."STMicroelectronics (STM) shares popped 15% after it said Tuesday that it now expects to generate data center revenue of about $1 billion in 2026, compared with previous guidance of more than $500 million.Alphabet (GOOG, GOOGL) said Monday it plans to raise $80 billion in equity to help fund investments in AI compute infrastructure, including a $10 billion private placement to Berkshire Hathaway (BRK.A, BRK.B), split evenly between class A common stock at $351.81 per share and class C capital stock at $348.20 per share. Alphabet's Class A shares fell 3.6%, and its Class C shares were down 3.4%.

$GOOG$GOOGL$HPE$MRVL$STM
Sectors

Sector Update: Tech

Tech stocks were higher late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) adding 1% and the State Street SPDR S&P Semiconductor ETF (XSD) popping 5.9%.The Philadelphia Semiconductor index climbed 5.2%.In corporate news, STMicroelectronics (STM) shares jumped nearly 15% after it said Tuesday that it now expects to generate data center revenue of about $1 billion in 2026, compared with previous guidance of more than $500 million.

$STM
Sectors

Sector Update: Tech Stocks Advance Premarket Tuesday

Technology stocks were advancing premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) 0.2% lower and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 3%.Marvell Technology (MRVL) shares were up more than 16% after multiple news outlets reported that Nvidia (NVDA) chief executive officer Jensen Huang called the chipmaker the next "trillion-dollar company."Hewlett Packard Enterprise (HPE) stock was up more than 27% after the company reported higher fiscal Q2 adjusted earnings and revenue, and raised its fiscal 2026 outlook.STMicroelectronics (STM) shares were up more than 9% after the company said it now expects to generate data center revenue of $1 billion this year, compared with its previous guidance of "nicely above $500 million."

$HPE$MRVL$STM$XLK$XSD
Asia Markets

Wall Street Set to Open Lower in Tuesday Trading as Investors Look for Signs of Middle East Peace Deal, Await Key Labor Data

US stocks look set to open modestly lower in Tuesday's trading session as investors look for any signs that stalled Middle East may restart, and await key labor market data set for release later in the morning.The Dow Jones Industrial Average futures were down 0.5%, S&P 500 futures were off 0.2%, and Nasdaq futures were edging 0.1% lower.The Job Openings and Labor Turnover Survey (JOLTS) for April is set to be released at 10 am ET, which will give investors a good indication on the strength of the US labor market. The reading is expected to remain unchanged at 6.866 million job openings, according to Bloomberg.Oil prices were moving lower, with front-month global benchmarks Brent crude declining 0.96% to $94.07 a barrel, while West Texas Intermediate crude was down 1.10% to $91.15 a barrel.In other world markets, Japan's Nikkei closed 0.3% lower, Hong Kong's Hang Seng surged 2.5%, and China's Shanghai Composite gained 0.4%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 was edging 0.1% higher, Germany's DAX was up 0.7%, and France's CAC was rising 0.5%.In equities, shares of Hewlett Packard Enterprise (HPE) surged 27% in Tuesday's premarket session after it reported fiscal Q2 earnings late Monday that beat analyst forecasts.Marvell Technology (MRVL) shares climbed 18% after multiple news outlets reported that Nvidia (NVDA) Chief Executive Jensen Huang called the chipmaker the next "trillion-dollar company."Shares of STMicroelectronics (STM) advanced 10% after it said Tuesday that it now expects to generate data center revenue of about $1 billion in 2026, compared with previous guidance of more than $500 million.On the losing side, shares of Abivax (ABVX) tumbled 35% after the company's phase 3 maintenance trial evaluating obefazimod in ulcerative colitis met its primary endpoint and key secondary endpoints, though malignancy cases reported during the trial weighed on the results.AEVEX's (AVEX) stock was down 11% pre-bell after it reported late Monday it launched a public offering of its class A common shares, along with certain selling shareholders.And Praxis Precision Medicines' (PRAX) shares were down 10% after it reported late Monday that its phase 2/3 trial assessing vormatrigine to treat focal onset seizures failed to meet its primary endpoint of percent change in monthly seizure frequency from baseline.

Dow JonesNasdaq CompositeS&P 500$ABVX$AVEX$HPE$MRVL$PRAX$STM
Research

Research Alert: CFRA Maintains Buy Recommendation On Adss Of Stmicroelectronics N.v.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain our Buy recommendation on ADSs of STMicroelectronics as we raise our target price to USD76 (up from USD60). This implies a 2026 P/E of 59x and 2027 P/E of 32x, which is above its 10-year historical average of 19x. This is justified by its strategic pivot toward higher-margin growth areas such as silicon carbide and MEMS sensors, in our view. That said, we see limited upside potential given that STM trades above its five-year average P/E amid a challenging operating environment. Our 2026 EPS estimate is USD1.30 and our 2027 EPS estimate is USD2.40 (raised from USD2.10). We remain positive as we see STMicroelectronics riding on the ongoing AI trend with its new line of ultralow-power sensors for wearables and AI data center momentum.

$STM
Japan

US Equity Markets End Lower as Rising Oil, Bond Yields Stoke Inflation Concerns

US equity indexes ended lower on Friday as crude oil prices and government bond yields rose, triggering increasing concerns that rising energy costs will spur inflation.* The US war with Iran is nearing its 11th week, and the Strait of Hormuz remains closed to oil tankers.* Industrial production rebounded by 0.7% in April, above expectations for a 0.3% increase in a Bloomberg survey and following an upwardly revised 0.3% decline in March.* June West Texas Intermediate crude oil rose $4.29 to settle at $105.46 per barrel, while July Brent crude, the global benchmark, was last seen up $3.55 at $109.28.* Nvidia (NVDA), Advanced Micro Devices (AMD), Arm Holdings (ARM) and Intel (INTC) shares declined, while ASML Holding (ASML) and STMicroelectronics (STM) also fell after a US-China summit ended without major semiconductor agreements.* DexCom (DXCM) shares rose 6.6%, the top gainer on the S&P 500, after the company set new long-term financial goals, including organic revenue growth of more than 10% a year through 2030.

Dow JonesNasdaq CompositeS&P 500$AMD$ASML$DXCM$INTC$NVDA$STM

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