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Asia Markets

Update: US Equity Indexes Rise as Washington Lifts Blockade of Iran's Ports, Deal Sets Up Hormuz Chokepoint for Reopening

(Updates with index/price moves, macroeconomic data, and political/company news from the first paragraph.)US equity indexes rose after a peace deal signed by President Donald Trump and his Iranian counterpart, Masoud Pezeshkian, led to Washington lifting its blockade of Tehran's ports on Thursday and as mega-cap semiconductor names rallied.The Nasdaq Composite advanced 1.9% to 26,517.93, with the S&P 500 up 1.1% to 7,500.58 and the Dow Jones Industrial Average higher by 0.1% to 51,564.70 on Thursday.Technology led the gainers, followed by consumer discretionary and communication services. Energy led the decliners.The US on Thursday lifted its blockade of Iran, and oil tankers began freely moving through the Strait of Hormuz after months of being unable to use the critical channel, as the tentative agreement to end the war took effect, according to the Associated Press. US Vice President JD Vance said that the 60-day negotiating period between Tehran and Washington began on Thursday, Al Jazeera reported.Iran's Supreme National Security Council says that the Persian Gulf Strait Authority has been charged with issuing permits as fast as possible for commercial vessels wishing to transit the Strait of Hormuz, the Al Jazeera report said.Front-month global benchmark North Sea Brent shed 0.3% to $79.34 per barrel, and the US West Texas Intermediate climbed 0.3% to $76.55 per barrel. Both the WTI and Brent traded more than 2% lower earlier in the session.The US expects "a complete ceasefire on all fronts", including Lebanon, Hezbollah, and Israel, Al Jazeera cited US President Donald Trump as saying. "We encourage everyone in the Middle East Region to maintain their commitment to allowing our negotiations to beautifully unfold.""You can't just kill your way out of solving every single national security problem that you have," Al Jazeera cited Vance as saying in reference to Israel.In company news, Intel (INTC) shares surged 11% to among the leaders on the S&P 500 and the Nasdaq, after Trump said Apple (AAPL) has agreed to work with Intel to design and build chips in the US.Tower Semiconductor (TSEM) said it shipped more than five million coherent photonic integrated circuits in partnership with Marvell Technology (MRVL). Shares of Marvell jumped 7.3%, among the top gainers on the Nasdaq.In economic news, US initial jobless claims fell to 226,000 in the week ended June 13 from an upwardly revised 230,000 in the previous week, compared with expectations for 225,000 in a survey of analysts compiled by Bloomberg.In precious metals, gold futures slumped 3.3% to $4,238.30, while silver futures plummeted 6.7% to $66.51 as investors priced in higher interest rates this year.On Wednesday, the Federal Reserve unanimously left its benchmark rate unchanged in the 3.50% to 3.75% range, while excluding language that suggested a lingering bias toward cuts. The probability of US interest rates rising to the 4% to 4.25% target range soared to 33% as of Thursday afternoon from 14% a week ago, implying the market doubled its outlook for two rate increases of 25 basis points each by the end of 2026, according to the CME FedWatch tool.US Treasury yields traded mixed, with the 10-year down less than one basis point to 4.45%, while the two-year rose 1.6 basis points to $4.18%.

Dow JonesNasdaq CompositeS&P 500$AAPL$INTC$MRVL$TSEM
Sectors

Sector Update: Tech Stocks Climb Late Afternoon

Tech stocks were sharply higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.9% and the State Street SPDR S&P Semiconductor ETF (XSD) jumping 6.8%.The Philadelphia Semiconductor index popped 6.6%.In corporate news, Intel (INTC) shares jumped past 10% after President Donald Trump said Apple (AAPL) has agreed to work with Intel to design and build chips in the US. Apple shares added 0.4%.Tower Semiconductor (TSEM) said it shipped more than five million coherent photonic integrated circuits in partnership with Marvell Technology (MRVL). Marvell shares surged past 13%, and Tower Semiconductor gained 4.7%.Micron Technology (MU) may deliver fiscal Q3 results well above Wall Street's expectations after market prices for memory chips came in higher than the company had assumed, Wedbush Securities said. Micron shares climbed 9.3%.Amazon.com (AMZN) is in discussions to sell its custom AI chips for use in other firms' data centers, expanding its efforts to challenge Nvidia's (NVDA) dominance in the AI chip market, Bloomberg reported, citing Amazon AI chief Peter DeSantis. Amazon shares rose 2.3%.

$AAPL$AMZN$INTC$MRVL$MU$TSEM
Sectors

Sector Update: Tech Stocks Gain Thursday Afternoon

Tech stocks were sharply higher Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.1% and the State Street SPDR S&P Semiconductor ETF (XSD) jumping 6.7%.The Philadelphia Semiconductor index popped 6.5%.In corporate news, Intel (INTC) shares jumped past 10% after President Donald Trump said Apple (AAPL) has agreed to work with Intel to design and build chips in the US.Tower Semiconductor (TSEM) said it shipped more than five million coherent photonic integrated circuits in partnership with Marvell Technology (MRVL). Marvell shares surged 12%, and Tower Semiconductor climbed up 5.2%.Micron Technology (MU) may deliver fiscal Q3 results well above Wall Street's expectations after market prices for memory chips came in higher than the company had assumed, Wedbush Securities said. Micron shares gained 8.5%.

$INTC$MRVL$MU$TSEM
Asia Markets

Update: US Equity Indexes Jump as Crude Oil Heads for Pre-War Levels Ahead of Iran Reopening Hormuz Chokepoint

(Updates with index/price moves, macroeconomic data, and political/company news from the first paragraph.)US equity indexes rose amid a rally in mega-cap semiconductors and as crude oil extended declines to the lowest in more than three months after a signing of the interim Iran peace deal set the stage for an immediate reopening of the Strait of Hormuz.The Nasdaq Composite advanced 1.5% to 26,406.3, with the S&P 500 up 1.1% to 7,499.9 and the Dow Jones Industrial Average higher by 0.4% to 51,673.7 after midday Thursday.All sectors except energy, health care, consumer staples, and financials rose. Technology led the gainers, followed by consumer discretionary.President Donald Trump and Iranian President Masoud Pezeshkian digitally signed a memorandum of understanding targeting a permanent peace deal to end the war between the US and Iran."Upon the signing of this MOU, the Islamic Republic of Iran will make arrangements using its best efforts for the safe passage of commercial vessels with no charge for 60 days only from the Persian Gulf to the Sea of Oman and vice versa," Reuters cited one of the clauses in the framework agreement. "The traffic of commercial vessels will immediately start and, considering the need for removing the technical and military obstacles and de-mining by the Islamic Republic of Iran, will be instated within 30 days."Crude oil futures declined, with front-month global benchmark North Sea Brent slumping 2.6% to $77.49 per barrel after midday. The US West Texas Intermediate sank 3% to $74.50 per barrel, the lowest level since around early March.Most US Treasury yields fell, with the 10-year down 2.2 basis points to 4.44%, as sliding crude oil alleviates inflation concerns.In precious metals, gold futures slumped 3.2% to $4,240.5, while silver futures plummeted 6.6% to $66.13 as investors priced in higher interest rates this year.On Wednesday, the Federal Reserve unanimously left its benchmark rate unchanged in the 3.50% to 3.75% range, while excluding language that suggested a lingering bias toward cuts. The probability of US interest rates rising to the 4% to 4.25% target range soared to 33% as of Thursday afternoon from 14% a week ago, implying the market doubled its outlook for two rate increases of 25 basis points each by the end of 2026, according to the CME FedWatch tool.In company news, Intel (INTC) shares surged 11% to among the leaders on the S&P 500 and the Nasdaq, after Trump said Apple (AAPL) has agreed to work with Intel to design and build chips in the US.Tower Semiconductor (TSEM) said it shipped more than five million coherent photonic integrated circuits in partnership with Marvell Technology (MRVL). Shares of Marvell soared 12%, the top gainer on the Nasdaq.In economic news, US initial jobless claims fell to 226,000 in the week ended June 13 from an upwardly revised 230,000 in the previous week, compared with expectations for 225,000 in a survey of analysts compiled by Bloomberg.

Dow JonesNasdaq CompositeS&P 500$AAPL$INTC$MRVL$TSEM
Sectors

Sector Update: Technology Stocks Rise Pre-Bell Thursday

Technology stocks were rising pre-bell Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) 2.3% higher and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 3.9%.Intel (INTC) shares were up more than 8% after President Donald Trump said Apple (AAPL) has agreed to work with Intel to design and build chips in the US.Accenture (ACN) stock was down more than 16% after the company issued fiscal Q4 revenue outlook below analysts' expectations. Accenture also said it is acquiring a majority stake in Dragos and full ownership of runZero and NetRise in a $4.18 billion deal.Tower Semiconductor (TSEM) said it has shipped more than five million coherent photonic integrated circuits in partnership with Marvell Technology (MRVL). Tower Semiconductor shares were up more than 4% and Marvell Technology rose 6% premarket.

$AAPL$ACN$INTC$MRVL$TSEM$XLK$XSD
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Monday Amid US-Iran Ceasefire

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 1.3%, and the actively traded Invesco QQQ Trust (QQQ) advanced 2.1% in Monday's premarket activity, as the US and Iran said they have agreed to a ceasefire.US stock futures were also higher, with S&P 500 Index futures up 1.3%, Dow Jones Industrial Average futures advancing 0.9%, and Nasdaq futures gaining 2.1% before the start of regular trading.The New York Federal Reserve's Empire State manufacturing index fell to 5.7 in June from 19.6 in May, compared with a smaller expected decrease to a reading of 13.5 in a survey compiled by Bloomberg.The industrial production report for May will be released at 9:15 am ET, followed by the housing market index for June at 10 am ET.In premarket action, bitcoin was up by 3.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.2% higher, Ether ETF (EETH) advanced 5.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 1.4%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1.2%, while the Vanguard Industrials Index Fund (VIS) rose 1.7% and the iShares US Industrials ETF (IYJ) was 0.1% higher.SpaceX (SPCX) rose more than 6% before market open after the Elon Musk-led company finished its trading debut on Friday with a 19% rise.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained by 2.8%, and the iShares US Technology ETF (IYW) was 2.9% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 3.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) rose 4%, while the iShares Semiconductor ETF (SOXX) increased by 4.2%.Tower Semiconductor (TSEM) shares were up more than 6% in premarket activity after the company entered into a multi-year agreement with IQE for the supply of indium phosphide epiwafers used in optical connectivity offerings for data center infrastructure.EnergyThe iShares US Energy ETF (IYE) was down 2% while the State Street Energy Select Sector SPDR ETF (XLE) was down by 2.8%.Equinor ASA (EQNR) stock was down more than 5% before the opening bell after the company said it is advancing a fourth phase of development at the Johan Sverdrup field in the North Sea after new appraisal wells confirmed additional recoverable oil volumes in the area.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) was up 0.8%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 1.1% higher.Zymeworks (ZYME) was up more than 2% premarket a day after the biotechnology company said its drug to treat certain reproductive tract cancers has shown promise in early testing.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) was up 2.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 2% lower.Deutsche Bank (DB) shares were up more than 3% pre-bell as media outlets reported that JPMorgan Chase (JPM) and Deutsche Bank will participate in Singapore's planned gold-clearing system. JPMorgan stock was 0.8% higher.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.4% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 1%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained by 1.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) increased by 1.1%.Tesla (TSLA) shares were up more than 1.6% pre-bell after closing Friday with a 1.8% rise. News agency Reuters claimed Monday that the electric vehicle maker relied on misleading data when it made representations to European regulators about enhanced safety from its self-driving vehicles.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 5.4% to $80.29 per barrel on the New York Mercantile Exchange. Natural gas retreated by 1.4% at $3.08 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 4.6%, while the United States Natural Gas Fund (UNG) was 1.4% lower.Gold futures for July advanced by 2.6% to $4,347.00 an ounce on the Comex. Silver futures rose by 4.1% to $70.75 an ounce. SPDR Gold Shares (GLD) was up by 3.1%, and the iShares Silver Trust (SLV) rose by 4.8%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$DB$EEM$EETH$EQNR$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$JPM$PMR$QQQ$RTH$SLV$SOXX$SPCX$SPY$TSEM$TSLA$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD$ZYME
Sectors

Sector Update: Tech Stocks Rise Pre-Bell Wednesday

Technology stocks were rising pre-bell Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) 0.9% higher and the State Street SPDR S&P Semiconductor ETF (XSD) up 2.2%.Nebius Group (NBIS) stock was up more than 16% after the company posted higher Q1 earnings and revenue.Tower Semiconductor (TSEM) shares were up more than 16% after the company said it signed silicon photonics customer contracts representing $1.3 billion in expected 2027 revenue and received $290 million in customer prepayments tied to capacity reservations. Tower Semiconductor also posted higher Q1 adjusted earnings and revenue.Vishay Intertechnology (VSH) stock was up more than 6% after the company reported that it swung to a profit in fiscal Q1 as revenue increased during the period.

$NBIS$TSEM$VSH$XLK$XSD
Wire

Tower Semiconductor Secures $1.3 Billion in 2027 SiPho Customer Commitments; Shares Up Pre-Bell

Tower Semiconductor (TSEM) said Wednesday it signed silicon photonics customer contracts representing $1.3 billion in expected 2027 revenue and received $290 million in customer prepayments tied to capacity reservations.The company said it also secured substantially larger contractual wafer commitments for 2028, with additional prepayments expected by January 2027.The agreements reflect rising demand for its silicon photonics technology driven by AI infrastructure growth and support its target of $2.8 billion in revenue and $750 million in net profit by 2028, the company added.Tower Semiconductor shares were up more than 14% in premarket activity.Price: $253.00, Change: $+32.17, Percent Change: +14.57%

$TSEM
Wire

Tower Semiconductor Poised to Meet or Surpass Expectations in Upcoming Q1 Results, Wedbush Says

Tower Semiconductor (TSEM) is poised to meet or surpass analysts' expectations when it reports its Q1 financial results, Wedbush said in a Tuesday note.The company has set a conservative bar for its guidance, and its peers have mostly beaten their initial guidance as the demand in the tech sector was stronger than expected, Wedbush analysts said. They added that better sales, along with a continued shift in mix, is set to benefit Tower's gross margins.The analysts said they also expected upside potential in Q2, driven by incremental growth from new silicon photonics programs that look to ramp in late Q1 and Q2. Demand for other products is also expected to exceed expectations, in line with solid trends in mature foundry, the analysts noted.The most important consideration for how Tower's stock does after earnings is likely the company's handling of its long-term model, according to the note.Tower is set to announce its financial results on Wednesday.Wedbush's rating on the company's stock is neutral with a price target of $140.Price: $213.85, Change: $-15.03, Percent Change: -6.57%

$TSEM
Commodities

Exchange-Traded Funds Down, Equity Futures Mixed Pre-Bell Monday Amid Hormuz Uncertainty, Corporate Earnings

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.1%, and the actively traded Invesco QQQ Trust (QQQ) was 0.2% lower in Monday's premarket activity amid uncertainty surrounding the Strait of Hormuz reopening and corporate earnings for the prior quarter.US stock futures were mixed, with the S&P 500 Index futures down by 0.01%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.1% before the start of regular trading.The Dallas Federal Reserve manufacturing survey for April will be released at 10:30 am ET.In premarket activity, bitcoin was down by 0.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% higher, Ether ETF (EETH) retreated 0.02%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.02%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) declined by 0.1%, the Vanguard Health Care Index Fund (VHT) was up 0.7%, while the iShares US Healthcare ETF (IYH) slipped 1.1%. The iShares Biotechnology ETF (IBB) was flat.Organon (OGN) stock was up more than 16% premarket after the company agreed to be acquired by Sun Pharmaceutical Industries for $14 per share in an all-cash deal with an enterprise valuation of $11.75 billion.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.2%. The iShares US Consumer Staples ETF (IYK) declined by 0.2%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.3% lower.Domino's Pizza (DPZ) shares were down more than 4% pre-bell after the company reported lower-than-expected fiscal Q1 earnings and revenue.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 0.2%, the iShares US Technology ETF (IYW) was 0.4% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained by 0.6%, while the iShares Semiconductor ETF (SOXX) rose by 0.5%.Tower Semiconductor (TSEM) shares were up more than 4% in Monday's premarket activity after the company and Axiro Semiconductor said that Axiro's Ku- and X-band radar beamforming integrated circuits are now ready for deployment in critical defense systems.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.02%, while the Vanguard Industrials Index Fund (VIS) gained 0.4% and the iShares US Industrials ETF (IYJ) was flat.Joby Aviation (JOBY) stock was up more than 3% before the opening bell after the company said it completed the first point-to-point electric vertical takeoff and landing passenger flights in New York.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.3% higher.HBT Financial (HBT) shares were up more than 1% pre-bell after the company reported higher Q1 adjusted earnings and operating revenue.EnergyThe iShares US Energy ETF (IYE) gained 0.02%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.5%.TotalEnergies (TTE) stock was up more than 1% before the opening bell after news reports that the company is running its Gonfreville, France, site at its full capacity to maintain the supply of oil to the domestic market.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 0.7% to $95.07 per barrel on the New York Mercantile Exchange. Natural gas gained by 1% to reach $2.67 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.9%, while the United States Natural Gas Fund (UNG) was 3.7% higher.Gold futures for May were down by 0.4% at $4,720.60 an ounce on the Comex. Silver futures retreated by 0.8% to $76.36 an ounce. SPDR Gold Shares (GLD) was 0.3% lower, and the iShares Silver Trust (SLV) fell by 0.4%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$DPZ$EEM$EETH$EXI$FAS$FAZ$GLD$HBT$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$JOBY$OGN$PMR$QQQ$RTH$SLV$SOXX$SPY$TSEM$TTE$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Tech Stocks Mixed Premarket Monday

Technology stocks were mixed premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.1% higher.Qualcomm (QCOM) shares were up more than 8% after a TF International Securities analyst said that industry checks suggest Microsoft-backed (MSFT) OpenAI is working with the semiconductor company and MediaTek to develop smartphone processors.Tower Semiconductor (TSEM) and Axiro Semiconductor said Axiro's Ku- and X-band radar beamforming integrated circuits are now ready for deployment in critical defense systems. Tower Semiconductor stock was up more than 1% pre-bell.WeRide (WRD) and Lenovo expect to jointly deploy 200,000 autonomous vehicles, including Robotaxis, worldwide over the next five years, WeRide said. Shares of WeRide were up more than 3% premarket.

$MSFT$QCOM$TSEM$WRD$XLK$XSD

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