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Wire

Market Chatter: Tesla Adds $250 Million to German Battery Cell Investment

Tesla (TSLA) plans to increase its investment in battery cell output at its plant in Gruenheide, Germany, by $250 million, Reuters reported Tuesday, citing a company statement.The company is targeting annual production capacity of 18 gigawatt hours, up from 8 GWh previously planned, the report said.In December, Tesla announced investments of 1 billion euros ($1.2 billion), the report said.Tesla didn't immediately respond to a request for comment by.(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: $438.14, Change: $-6.94, Percent Change: -1.56%

$TSLA
Asia Markets

US Equity Indexes Advance, Treasury Yields Rise With Crude Oil as Trump Explores Options to Tame Iran

US equity indexes rose on Monday, alongside crude oil futures and Treasury yields, as President Donald Trump reportedly planned to meet national security officials after rejecting Iran's response to a proposal to restart the peace process.The S&P 500 climbed 0.2% to 7,412.84, the Dow Jones Industrial Average rose 0.2% to 49,706.47, and the Nasdaq Composite advanced 0.1% to 26,274.13. The S&P 500 and the Nasdaq scaled new all-time peaks intraday.Energy was the top gainer at the close, ahead of materials, technology, and industrials. Communication services and consumer staples led the decliners.Heavyweights Qualcomm (QCOM), Micro Technology (MU), Tesla (TSLA), and Intel (INTC) were among the top five gainers intraday in a category of stocks with a market capitalization of more than $200 billion, according to data compiled by Finviz.President Trump said the US-Iran ceasefire is on "massive life support," after he rejected Tehran's response to his peace proposal as unserious, according to a report from The Wall Street Journal. Iran had demanded a lifting of the US naval blockade and sanctions relief, while maintaining a degree of control over traffic through Hormuz, a person familiar with the matter told Bloomberg.Trump, who has endorsed suspending the federal gasoline tax "for a period of time" in an interview with CBS News on Monday, is meeting his national security team to discuss the way forward, including possibly resuming military action against Iran, three US officials told Axios.The US officials said Trump wants a deal to end the war, Axios reported. But Iran's rejection of many of Trump's demands and refusal to make meaningful concessions on its nuclear program puts the military option back on the table, the news report added.West Texas Intermediate crude oil futures rose 3% to $98.26, and Brent crude futures increased 3% to $104.27.US Treasury yields rose, with the 10-year up 4.8 basis points to 4.41% and the two-year rate higher by 6.1 basis points to 3.95%.In economic news, the pace of US existing home sales rose 0.2% to a 4.02 million seasonally adjusted annual rate in April from 4.01 million in March, below expectations for a 4.05 million rate in a survey compiled by Bloomberg, data from the National Association of Realtors released Monday showed. Total sales were unchanged from a year earlier.In company news, Lumentum (LITE) said Monday that its stock will be included in the Nasdaq-100 Index, effective May 18. Shares surged 17%, the top gainer on the S&P 500.HSBC downgraded Trade Desk (TTD) to reduce from hold while adjusting its price target to $20 from $31. Shares slumped 7.4%, among the worst performers on the S&P 500.In precious metals, gold futures rose 0.4% to $4,747.2, and silver futures surged 7.5% to $86.91.

Dow JonesNasdaq CompositeS&P 500$INTC$LITE$MU$QCOM$TSLA$TTD
Equities

S&P 500 Posts Sixth Consecutive Weekly Gain, Hits Highs in Tech-Led Rise

The Standard & Poor's 500 index rose 2.3% this week to another round of new highs as the technology sector climbed on deals and earnings.The S&P 500 ended Friday's session at 7,398.93, marking its latest all-time closing high. The market benchmark also set a fresh intraday high on Friday at 7,401.50, its sixth consecutive week of gains. The index is up 8.1% for the year.This week's advance came as deal chatter and better-than-expected earnings drove strong gains in the technology sector. The deals included a preliminary agreement under which Intel (INTC) will make some of the chips powering Apple (AAPL) devices, according to a Wall Street Journal report citing people familiar with the matter.Also, payroll data from the Bureau of Labor Statistics showed the US economy added more jobs than projected in April. This helped allay concerns about a slowdown in the labor market. Investors also saw the data as likely allowing the Federal Reserve to stick to its current policy stance.Nonfarm payrolls for April rose by 115,000, well above the 65,000 increase expected in a Bloomberg-compiled survey. Private payrolls growth slowed to 123,000 in April from 190,000 the month prior, the BLS reported, surpassing the consensus estimate for a 75,000 gain. The unemployment rate was unchanged at 4.3% in April, in line with Wall Street's estimates.The technology sector jumped 7% on the week, followed by a 1.9% increase in communication services and a 1.8% increase in consumer discretionary. Materials, industrials and real estate also edged higher.Akamai Technologies (AKAM) and Datadog (DDOG) topped the technology sector as shares soared 42% each. Akamai's Q1 results included a slight earnings beat and Chief Executive Tom Leighton said a US-based frontier model provider has committed $1.8 billion over seven years for the company's cloud infrastructure services. A Bloomberg report citing people familiar with the matter said the partner is Amazon.com-backed (AMZN) artificial intelligence startup Anthropic.Datadog's surge came as the software maker posted higher-than-expected Q1 results and raised its full-year outlook.Walt Disney's (DIS) stock was the best performer in communication services, climbing 4.8% on the week as the media and entertainment company's fiscal second-quarter results came in ahead of market estimates amid revenue gains across all business operations. Disney also reiterated expectations for growth to accelerate in the second half.Tesla (TSLA) led the gainers in consumer discretionary. The electric vehicle maker's shares rose 9.6% amid a report that the company's China-made electric vehicle sales rose for a sixth consecutive month on a year-over-year basis.On the downside, the energy sector fell 5.4%, followed by a 4% loss in utilities, a 1.4% slip in financials and a 1.2% decline in health care. Consumer staples were also lower.The drop in the energy sector came as crude oil futures also fell on the week. APA (APA) was hit the hardest in the sector, losing 11% despite the company's Q1 earnings coming in above analysts' mean estimate.In utilities, NRG Energy (NRG) shares had the largest percentage drop for the week, falling 10%. The company reported Q1 adjusted earnings per share below analysts' mean estimate even as revenue topped the Street view.Next week's earnings calendar features Cisco Systems (CSCO), Applied Materials (AMAT) and Constellation Energy (CEG).Economic data will include the April consumer and producer price indexes. Retail sales, existing home sales, import prices and industrial production for April will also be among the reports.

Dow JonesNasdaq CompositeS&P 500$AKAM$APA$DDOG$DIS$NRG$TSLA
Sectors

Sector Update: Consumer Stocks Higher Pre-Bell Thursday

Consumer stocks were higher premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) advancing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gaining 0.5%.Tesla (TSLA) stock gained over 1% before the bell after Reuters reported that the EV maker's China-made electric vehicle sales rose for a sixth consecutive month on a year-over-year basis.McDonald's (MCD) shares were 0.1% higher in premarket activity after the company reported higher Q1 adjusted earnings and revenue.Tapestry (TPR) stock were down 2.6% pre-bell despite the company reporting higher fiscal Q3 non-GAAP earnings and net sales.

$MCD$TPR$TSLA$XLP$XLY
Asia Markets

Peace Deal Hopes, Strong Earnings Nudge US Equity Futures Higher Pre-Bell

US equity futures were slightly higher pre-bell Thursday as hopes for a finalized peace deal between the US and Iran continue, on top of a strong earnings season to date.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.1% higher.A final peace agreement would end the conflict and reopen the Strait of Hormuz, President Donald Trump said in a Truth Social post on Wednesday. The White House had said it was nearing an agreement with Iran that would end the war and establish a framework for more detailed nuclear negotiations, according to an Axios report.However, Trump said Iran's acceptance of the US proposal would be "perhaps, a big assumption," and warned that bombing would resume "at a much higher level and intensity than it was before" if an agreement was not reached. An Iranian foreign ministry spokesperson told CNBC on Wednesday that Iran was evaluating the proposal.Traders absorbed the most recent round of earnings, with Shell (SHEL) and McDonald's (MCD) posting higher Q1 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.3% at $96.96 per barrel and US West Texas Intermediate crude 4.9% lower at $90.45 per barrel.The weekly jobless claims bulletin, released at 8:30 am ET, showed 200,000 new unemployment claims for the week ended May 2, compared with the upwardly revised figure of 190,000 in the prior week, and it came in below the 205,000 expected, according to estimates compiled by Bloomberg. Q1 nonfarm productivity increased at a 0.8% annual rate, topping forecasts for 0.6%, while unit labor costs increased 2.3%, compared with the 2.5% expected.The February and March construction spending reports are due at 10 am ET.Federal Reserve Minneapolis President Neel Kashkari, Cleveland President Beth Hammack, and New York President John Williams are slated to speak today.In other world markets, Japan's Nikkei closed 5.6% higher, Hong Kong's Hang Seng ended 1.6% higher, and China's Shanghai Composite finished 0.5% higher. Meanwhile, the UK's FTSE 100 was down 0.6%, and Germany's DAX index was 0.1% lower in Europe's early afternoon session.In equities, Tesla (TSLA) stock was up 1.9% after the company's China-made electric vehicle sales rose for the sixth consecutive month on a year-over-year basis, according to a Reuters report. DoorDash (DASH) shares rose 8.7% after the company posted Q1 earnings that topped analysts' consensus. Fortinet (FTNT) stock was up 17% after the company posted a stronger-than-expected jump in Q1 earnings and sales, as well as boosted its full-year 2026 guidance.On the losing side, Shell stock was down 1.8% after the company reported its Q1 financial results. ARM (ARM) shares fell 7% despite the company posting higher fiscal Q4 adjusted earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$ARM$DASH$FTNT$MCD$SHEL$TSLA
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid Corporate Earnings, Economic Data Deluge

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% higher in Thursday's premarket activity amid a deluge of corporate earnings results and economic data.US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures gaining 0.1% before the start of regular trading.US layoff intentions rose in April, led by the technology sector due to increased use of AI, outplacement firm Challenger, Gray & Christmas reported Thursday.US initial jobless claims rose to a level of 200,000 in the week ended May 2 from an upwardly revised 190,000 level in the previous week, compared with expectations for a larger increase to 205,000 in survey of analysts compiled by Bloomberg.Nonfarm productivity rose by 0.8% in Q1 after a downwardly revised 1.6% increase in Q4, above expectations for a 0.6% gain in a survey compiled by Bloomberg as of 7:40 am ET, data released by the Bureau of Labor Statistics showed.Construction spending data for February and March will be released at 10 am ET, followed by weekly natural gas stocks at 10:30 am ET.The consumer credit data for March posts at 3 pm ET.Minneapolis Fed President Neel Kashkari and New York Fed President John Williams are slated to speak on Thursday.In premarket activity, bitcoin was down by 0.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.8% lower, Ether ETF (EETH) retreated 1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was inactive.MDA Space (MDA) stock was up more than 8% before the opening bell after the company reported higher Q1 adjusted earnings and revenue.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) retreated 0.3%, while the iShares US Healthcare ETF (IYH) slipped 1.5%. The iShares Biotechnology ETF (IBB) was 0.8% higher.Viatris (VTRS) stock was down more than 3% premarket after gaining 2.8% at the prior close. The company reported higher Q1 financial results and reaffirmed its 2026 guidance.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% higher.Carlyle (CG) shares were down more than 3% pre-bell after the company reported lower Q1 after-tax distributable earnings and revenue.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.01%, and the iShares US Technology ETF (IYW) was 0.03% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.03%, while the iShares Semiconductor ETF (SOXX) rose by 0.4%.Alphabet (GOOG, GOOGL) shares were up more than 2% in premarket activity after closing the prior session with a 2.8% rise. Bloomberg reported that Google has proposed changes to how it shows news results in its search engine to avoid further EU competition fines.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.3%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.03%, while the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.7%. The VanEck Retail ETF (RTH) was 0.6% higher, while the State Street SPDR S&P Retail ETF (XRT) retreated by 0.3%.Tesla (TSLA) shares were up more than 1% pre-bell after Reuters reported the EV maker's China-made electric vehicle sales rose for a sixth consecutive month on a year-over-year basis.EnergyThe iShares US Energy ETF (IYE) was down 0.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was 1.1% lower.Shell (SHEL) stock was down more than 1% before the opening bell after the company reported lower-than-expected Q1 revenue.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 3.3% to $91.97 per barrel on the New York Mercantile Exchange. Natural gas was down by 1% at $2.70 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 3.3%, while the United States Natural Gas Fund (UNG) was 0.3% lower.Gold futures for May gained by 1.2% to reach $4,748.30 an ounce on the Comex. Silver futures advanced by 5.4% to $81.44 an ounce. SPDR Gold Shares (GLD) was 1% higher, and the iShares Silver Trust (SLV) rose by 4.7%.

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

Sector Update: Consumer

Consumer stocks were higher premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) advancing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gaining 0.8%.Tesla (TSLA) stock gained nearly 2% before the bell after Reuters reported that the EV maker's China-made electric vehicle sales rose for a sixth consecutive month on a year-over-year basis.

$TSLA$XLP$XLY
Wire

SpaceXAI Signs Compute Partnership With Anthropic

SpaceXI said Wednesday it has signed an agreement with Anthropic to give it access to Colossus 1, its AI supercomputer.Anthropic is expected to use the additional compute from Colossus 1 to improve capacity for Claude Max and Claude Pro subscribers, the company said.Financial terms of the agreement were not disclosed.Anthropic didn't immediately reply to a request for comment from.Price: $396.61, Change: $+7.31, Percent Change: +1.88%

$AMZN$TSLA
Wire

SpaceXAI Signs Compute Partnership With Anthropic

SpaceXAI Signs Compute Partnership With Anthropic

$AMZN$TSLA
Wire

SpaceX Estimates $55 Billion Initial Investment for Chip Facility in Texas

Tesla's (TSLA) joint project with SpaceX, a semiconductor manufacturing facility to be built in Texas, has an estimated total capital investment of $55 billion, according to a public notice on Wednesday.SpaceX forecasts that total investment for the project could reach $119 billion if additional phases are constructed, the notice said.Texas' Grimes County is one of the possible locations for the "Terafab" facility, Tesla CEO Elon Musk wrote on X.Local officials of Grimes County will weigh property tax abatement for the facility in a meeting on June 3, according to the notice.A SpaceX filing highlighted risks around the company's lack of long-term chip supply contracts with direct chip suppliers, Reuters reported.Price: $393.54, Change: $+4.24, Percent Change: +1.09%

$TSLA
Wire

Market Chatter: xAI's Cheap, Fast Data Center Build-Out Comes With Trade-Offs

SpaceX said in its draft IPO prospectus that xAI brought the first two chip clusters at its second data center online at about a quarter of the typical cost, but the speedy data center build-out has also resulted in reliability problems due to xAI's temporary power and cooling setups, The Information reported Tuesday.At Macrohard, xAI's data center in Memphis, the company is still primarily using electricity from nearby mobile gas turbines and Tesla (TSLA) Megapack batteries, and it's relying on over 100 mobile chillers to keep graphics processing units cool, the report said, citing a person involved in the project.xAI 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: $391.60, Change: $-0.96, Percent Change: -0.25%

$TSLA
Wire

xAI's Cheap, Fast Data Center Build-Out Comes With Trade-Offs, The Information Reports

xAI's Cheap, Fast Data Center Build-Out Comes With Trade-Offs, The Information Reports

$TSLA
Wire

Google DeepMind, Microsoft, xAI Sign AI Security Agreements With CAISI

Alphabet's (GOOG, GOOGL) Google DeepMind, Microsoft (MSFT), and Tesla (TSLA) Chief Executive Elon Musk's xAI signed new agreements with the Center for AI Standards and Innovation to assess artificial intelligence security issues before they are released, CAISI said Tuesday.The expanded collaborations allow the government to test the models before public release to improve security and establish best practices, the center said.The organization has completed more than 40 software assessments to date and frequently receives unrestricted versions of the programs to thoroughly investigate potential national security risks, according to a statement.The partnerships support information sharing and classified environment testing while remaining flexible enough to adapt to rapid technological advancements, CAISI said.These expanded industry collaborations will help the CAISI scale its work in the public interest at critical moments, CAISI Director Chris Fall said.Price: $383.25, Change: $+3.61, Percent Change: +0.95%

$GOOG$GOOGL$MSFT$TSLA
Wire

Market Chatter: SpaceX's Starlink Revenue Per User Falls as Customers Quadrupled

Tesla (TSLA) Chief Executive Elon Musk's SpaceX Starlink internet service saw revenue per user falling about 18% to $81 a month between 2023 and 2025, even as the company quadrupled its individual subscribers in that period, The Information reported Wednesday, citing a draft version of initial public offering prospectus.The fall in average revenue per user is attributed to the introduction of cheaper plans and expansion outside North America, according to the report.SpaceX further said in the prospectus that average revenue per user is expected to keep falling over the next few years as it continues to expand Starlink globally, according to the news outlet.The documents revealed that Starlink's revenue surged to $11.4 billion in 2025 from $3.9 billion in 2023, the report added.SpaceX did not immediately respond to' request for comment.(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: $373.62, Change: $-2.40, Percent Change: -0.64%

$TSLA
Asia Markets

US Equity Indexes Mixed This Week as Surging Technology Fails to Outweigh Iran Geopolitics

US equity indexes closed mixed this week, as quarterly earnings helped the technology sector top charts while a failure to hold the second round of Iran peace talks knocked confidence.* The S&P 500 closed at 7,165.08 on Friday, up 0.6% this week, according to data compiled by FactSet. The Nasdaq Composite ended at 24,836.60, rising 1.5% over the past five days. The Dow Jones Industrial Average ended at 49,310.32, down 0.4% from a week ago.* Technology and energy led sector gainers, while health care and financials were among the steepest decliners.* Intel's Q1 galvanized the technology sector as the chipmaker reported blowout results, pushing its shares as high as 25% on Friday. Arm (ARM), Advanced Micro Devices (AMD), and Texas Instruments (TXN) each delivered returns of more than 20% this week.* Investors balked after Tesla (TSLA) unveiled its capital expenditure guidance for 2026, taking the shine off Q1 beats. TechCrunch reported the firm plans to spend $25 billion this year, compared with $8.5 billion in 2025. Tesla's shares ended 5.9% lower this week.* Late Friday, WTI and Brent crude oil futures trading at $94.74 and $105.79, respectively, were higher from a week ago, reflecting mainly the US-Iran's failure to hold the second round of talks in Pakistan earlier this week. The duo remained at an impasse up until Thursday, as Tehran refused to negotiate a peace deal as long as the US Navy continued to blockade its ports and Washington refused to lift the siege.* However, on Friday, news emerged that US envoys Steve Witkoff and Jared Kushner will travel to Islamabad, Pakistan, on Saturday to participate in direct talks with Iran, CNN cited the White House. On the same day, Tehran also announced it is sending Foreign Minister Abbas Araghchi to Pakistan, the news report said. WTI and Brent crude futures traded lower on Friday.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$INTC$TSLA$TXN
Sectors

Sector Update: Tech Stocks Rise Premarket Friday

Technology stocks were rising premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) advancing by 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) nearly 5% higher.Intel (INTC) stock was up more than 24% after the company reported higher fiscal Q1 adjusted earnings and revenue, and issued fiscal Q2 outlook above analysts' expectations.SAP (SAP) shares were up more than 7% after the company posted higher Q1 earnings and revenue.Pony AI (PONY) expects the total cost of its 2027 Robotaxi in China to drop below 230,000 Chinese renminbi ($33,649), which would be lower than the current starting price of a locally produced Tesla (TSLA) Model 3 in that market, the company said. Pony AI shares were up more than 1% premarket.

$INTC$PONY$SAP$TSLA$XLK$XSD
Equities

Social Buzz: Wallstreetbets Stocks Mostly Higher Premarket Friday; Intel, Advanced Micro Devices to Advance

The most-talked-about stocks in the Reddit subforum Wallstreetbets were mostly higher hours before Friday's opening bell.Intel (INTC) rose by almost 28% pre-bell, after a 2.3% increase at Thursday's close. The chipmaker reported Q1 results above Wall Street's estimates and issued an upbeat Q2 outlook.Advanced Micro Devices (AMD) advanced by nearly 11% in premarket activity, following a 0.6% increase from Thursday's session.ServiceNow (NOW) was 1.3% higher in pre-bell hours, after closing Thursday with a 17.8% fall.Avis Budget Group (CAR) was up 3.1% hours before market open, swinging from a 48.4% fall from the previous session.Microsoft (MSFT) was 0.8% higher premarket, swinging from a decline of nearly 4% at Thursday's close.Tesla (TSLA) advanced by 0.8% pre-bell, after a 3.6% fall from the previous session.Nvidia (NVDA) was slightly higher premarket, following a 1.4% decline at Thursday's close.DTE Energy (DTE) was down 0.6% in premarket hours, swinging from a 2.7% increase from Thursday's session.

$AMD$CAR$DTE$INTC$MSFT$NOW$NVDA$TSLA
US Markets

Nasdaq, S&P 500 Retreat From Record Highs as Tech Shares Fall, Oil Climbs

The Nasdaq Composite and the S&P 500 pulled back from record highs on Thursday, dragged down by a sell-off in technology stocks, while oil prices rose.The Nasdaq fell 0.9% to 24,438.5, while the S&P 500 dropped 0.4% to 7,108.4, a day after both indexes notched record-high closing levels. The Dow Jones Industrial Average dropped 0.4% to 49,310.3. Tech saw the steepest decline among sectors, shedding 1.5%, while utilities paced the gainers with a 2.8% advance.ServiceNow (NOW) shares sank nearly 18%, the worst performer on the S&P 500, following its quarterly results.Shares of other major tech names also fell, with Salesforce (CRM) down 8.7%, the steepest decline on the Dow. Microsoft (MSFT) lost 4%, while tech bellwether Nvidia (NVDA) shed 1.4%.International Business Machines (IBM) followed Salesforce on the Dow, as the stock tumbled 8.3%. Late Wednesday, the technology giant maintained its full-year revenue growth outlook even as it reported first-quarter results above Wall Street's estimates.Tesla (TSLA) slumped 3.6% despite the company reporting stronger-than-expected first-quarter results. The electric vehicle manufacturer is ramping up its capital investments, which will result in a negative free cash flow for the rest of 2026, according to Chief Financial Officer Vaibhav Taneja.Tesla's aggressive capital spending on artificial intelligence initiatives should boost revenue, though it may take some time before those gains materialize, UBS Securities said in a Thursday note to clients.American Express (AXP) shares fell 4.3%, also among the biggest declines on the Dow, even as the payments company reported better-than-expected first-quarter results and reiterated its full-year outlook.West Texas Intermediate crude oil was up 3.7% at $96.37 per barrel in Thursday late-afternoon trade, on track for its fifth day of gains. Brent rose 3.8% to $105.82, extending its advance to a fourth day.US President Donald Trump ordered the US navy to "shoot and kill any boat" placing mines in the Strait of Hormuz, he said in a social media post on Thursday. Separately, Trump claimed that the US has "total control" over the key oil supply chokepoint.Trump extended a ceasefire with Iran earlier in the week, though he said the naval blockade of Iranian ports would continue. Iran's Islamic Revolutionary Guard Corps on Wednesday reportedly seized two tankers attempting to cross the Strait of Hormuz."Hopes for a resolution between the US and Iran are fading as peace talks stall," ING Bank said Thursday in a report. "If no progress is made, the market will become increasingly numb to the noise and headlines that have dictated price action recently."A second round of ceasefire talks between Israel and Lebanon was scheduled to take place at the White House on Thursday, according to media reports. On April 16, Trump announced a 10-day ceasefire between Israel and Lebanon.US Treasury yields were higher, with the 10-year rate up 2.2 basis points at 4.33% and the two-year rate rising 3.6 basis points to 3.84%.In economic news, government data showed weekly applications for unemployment insurance in the US increased more than expected, while continuing claims largely matched Wall Street's estimates."We remain of the mind that the conflict in Iran is unlikely to cause significant disruptions in the US labor market," Jefferies Chief US Economist Thomas Simons said in a note on Thursday. "There are many vulnerable points in the global economy that are at risk in the near-term due to potential shortages of all sorts of commodities, but for better or worse, the US economy is likely going to be the most insulated in the world."Gold was down 0.9% at $4,712.20 per troy ounce, while silver lost 3.2% to $75.46 per ounce.

Dow JonesNasdaq CompositeS&P 500$AXP$CRM$IBM$MSFT$NOW$NVDA$TSLA
Asia Markets

US Equity Indexes Drop as Growth Sectors Dampen Sentiment, Hormuz Deadlock Continues

US equity indexes fell as technology and consumer discretionary stocks weighed on investor sentiment, which remains frail as the standoff over the Strait of Hormuz, the choke-point for about a fifth of global crude oil flows, persists.The Nasdaq Composite fell 0.9% to 24,438.50, with the Dow Jones Industrial Average down 0.4% to 49,310.32, and the S&P 500 lower by 0.4% to 7,108.40 on Thursday. Utilities and industrials led the gainers.Shares of IBM (IBM) slid 8.3%, among the steepest decliners on the Dow, following Q1 results. Software growth decelerated to 8% in constant currency from 11% in Q4 and 9% in Q3, a "potential red flag for the bears," CFRA said in a note.Tesla (TSLA) slid 3.6% after the firm issued higher-than-expected 2026 capital expenditure guidance. TechCrunch reported the group is planning to spend $25 billion, compared with $8.5 billion in 2025.ServiceNow (NOW) reported strong Q1 results, but softer organic revenue trends and a slightly weaker margin outlook weighed on the overall forecast, Oppenheimer said in a note. Shares of ServiceNow sank 18%, the worst performer on the S&P 500.Texas Instruments (TXN) soared 19%, among the top outperformers on the S&P 500 and the Nasdaq, after the company posted higher Q1 earnings and sales and set out Q2 guidance above consensus.In geopolitical developments, President Donald Trump ordered the US Navy to "shoot and kill" any boat that is laying mines in Hormuz, according to a Truth Social post on Thursday. On the same day, Iran flaunted its tightened grip over Hormuz with a video of commandos storming a cargo ship named MSC Francesca, Reuters reported.The United States and Iran remain at an impasse, with Tehran refusing to negotiate a peace deal as long as the US Navy continues to blockade its ports and Washington refuses to lift the siege. Trump said the pressure is on Iran to reach a deal ending the war, claiming he has "all the time in the world," CNN reported.Iran "had made the lifting of the US blockade a precondition for the resumption of negotiations," Helima Croft, head of global commodity strategy at RBC Capital Markets, said in a note. "President Trump, for his part, has indicated that the ceasefire will remain in place for now, leaving the conflict in a no airstrike, minimal movement of ships, unsustainable equilibrium."West Texas Intermediate crude oil futures jumped 3.6% to $96.51, and Brent crude futures advanced 3.7% to $105.58.In precious metals, gold futures fell 1.1% to $4,703.3, and silver futures dropped 3.5% to $75.27 as higher crude oil prices tend to raise inflation concerns. Most US Treasury yields rose, reflecting a similar dynamic in the fixed-income complex in addition to the macroeconomic data. The 10-year yield jumped 3.1 basis points to 4.33%, and the two-year rate climbed 3.8 basis points to 3.83%.In US economic news, initial jobless claims rose to 214,000 in the week ended April 18 from an upwardly revised 208,000, compared with the 210,000 print expected in a Bloomberg-compiled survey.Meanwhile, the April flash reading of manufacturing conditions from S&P Global improved to a 47-month high of 54.0 from 52.3 in March, compared with the 52.5 anticipated in a Bloomberg-compiled poll.

Dow JonesNasdaq CompositeS&P 500$IBM$NOW$TSLA$TXN
Japan

US Equity Indexes Fall as Growth Sectors Undermine Sentiment, Hormuz Standstill Continues

US equity indexes traded lower ahead of Thursday's close, as technology and consumer discretionary stocks weighed amid a continuing standoff over the reopening of the Strait of Hormuz.The Nasdaq Composite fell 1% to 24,423.1, with the Dow Jones Industrial Average down 0.4% to 49,299.9, and the S&P 500 lower by 0.4% to 7,107.2.Shares of International Business Machines (IBM) slid 8.1%, among the steepest decliners on the Dow, following Q1 results. Software growth decelerated to 8% in constant currency from 11% in Q4 and 9% in Q3, a "potential red flag for the bears," CFRA said in a note.Tesla (TSLA) dropped 3.5% after the electric vehicle manufacturer issued higher-than-expected 2026 capital expenditure guidance. TechCrunch reported the electric vehicle manufacturer is planning to spend $25 billion this year, compared with $8.5 billion in 2025.Texas Instruments (TXN) soared 18%, among the biggest outperformers on the S&P 500 and the Nasdaq, after the company posted higher Q1 earnings and revenue and set out Q2 guidance above consensus.President Donald Trump has ordered the US Navy to "shoot and kill" any boat that is laying mines in Hormuz, according to his Truth Social post on Thursday. On the same day, Iran flaunted its tightened grip over Hormuz with a video of commandos storming a cargo ship named MSC Francesca, Reuters reported.The United States and Iran remain at an impasse, with Tehran refusing to negotiate a peace deal as long as the US Navy continues to blockade its ports and Washington refuses to lift the siege.West Texas Intermediate crude oil futures jumped 3.6% to $96.51, and Brent crude futures advanced 3.7% to $105.58.

Dow JonesNasdaq CompositeS&P 500$IBM$TSLA$TXN

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