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Asia Markets

Update: US Equity Futures Mostly Lower as Traders Assess Rising Oil, Canadian Retaliatory Tariffs

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mostly lower pre-bell Tuesday, coming off a three-day weekend as traders assessed rising oil prices and Canada's retaliatory tariffs against the US.Dow Jones Industrial Average futures were 0.7% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.2% higher.Canadian tariffs, which were announced after trade talks with the US collapsed last month, took effect on Tuesday and range from 15% to 50%, impacting hundreds of US products, including dairy, agricultural equipment, paper, household appliances and electronics.US President Donald Trump, in a Monday post on Truth Social, called for a boycott of Canadian aerospace manufacturer Bombardier, saying "If they want our Market, they must build here, and stop treating America like a 'piggybank'". In response, the company told CNBC that its workers are based all over the US, with sites in 10 states, while its aircraft are constructed using US-made components.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.1% at $98.04 per barrel and US West Texas Intermediate crude 1.7% higher at $93.01 per barrel.The National Federation of Independent Business' monthly Small Business Optimism Index fell to a reading of 98.7 in August from 99.8 in July.In other world markets, Japan's Nikkei closed 1.7% lower, Hong Kong's Hang Seng ended 0.4% lower, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was flat in Europe's early afternoon session.In equities, Taiwan Semiconductor Manufacturing (TSM) and ASML (ASML) shares rose 1.8% and 3.8%, respectively, after the two companies said they are collaborating on a project to move chipmaking to larger numerical aperture extreme ultraviolet masks. Lockheed Martin (LMT) stock was up 1.3% after UBS upgraded the company's stock to buy from neutral and adjusted the price target to $674 From $581. Roivant Sciences (ROIV) shares were more than 20% higher after the company said its Pulmovant unit's phase 2 PHocus study of mosliciguat in patients with pulmonary hypertension associated with interstitial lung disease, or PH-ILD, met its primary and secondary endpoints.On the losing side, Novartis (NVS) stock dropped more than 12% after the company said its phase 3 Harbor study evaluating delpacibart etedesiran in patients with myotonic dystrophy type 1 failed to meet its primary endpoint of video hand opening time. Novo Nordisk (NVO) shares fell 1.8% after a Reuters report on Monday that the company has stopped two additional trials of its experimental cardiovascular drug, ziltivekimab, after an independent committee found a low chance they would produce a different result from an earlier failed study. Boston Scientific (BSX) stock was down 1.4% after the company said it is unlikely to meet its net sales growth and adjusted EPS guidance ranges for the third quarter and full year 2026 after identifying a cybersecurity incident that resulted in a global disruption to its operations.

Dow JonesNasdaq CompositeS&P 500$ASML$BSX$LMT$NVO$NVS$ROIV$TSM
Apple's Foldable iPhone May Contribute $14 Billion to December Quarter Revenue, Morgan Stanley Says
US Markets

Apple's Foldable iPhone May Contribute $14 Billion to December Quarter Revenue, Morgan Stanley Says

Apple's (AAPL) upcoming debut foldable iPhone could contribute about $14 billion to the company's December quarter revenue, while projected smartphone price hikes are likely to be "a critical test" of the technology giant's pricing power, Morgan Stanley said in a note e-mailed Wednesday.The company is expected to launch its much-anticipated foldable iPhone at its "Surprise and Shine" event scheduled for Sept. 9. This would bring Apple into competition with major rival Samsung in the foldable smartphone space. Apple's new chief executive, John Ternus, will lead the event."This may be Apple's most consequential iPhone launch since iPhone X," Morgan Stanley said in a note to clients. "Apple's first foldable and the largest iPhone price increases in years creates a critical test of pricing power."The brokerage expects about 6.5 million foldable iPhone shipments in the December quarter, translating to roughly $14 billion of revenue, or 16% of total iPhone sales for the period, according to the note."Speaking of supply, our checks continue to point to (7 million to 8 million) foldable iPhone builds in (the second half of 2026) and up to 20 (million) builds over the first-generation product cycle, which essentially doubles the foldable smartphone market in (2027)," Morgan Stanley wrote.Apple and other tech giants are grappling with a global memory chip shortage, which has driven component prices higher. Apple recently increased prices for MacBooks and iPads."Combined with our survey work indicating strong foldable interest among iPhone users, notably in China, we believe the device is likely to sell out quickly given what we expect to be strong initial demand and constrained early supply," Morgan Stanley said.The brokerage continues to expect the starting price of the iPhone 18 Pro and Pro Max to be increased by $200, with potentially larger increases at higher storage tiers, taking into account higher costs of memory chips.While Apple upgrades its iPhone processor every year, the upcoming event will mark its first adoption of Taiwan Semiconductor Manufacturing's (TSM) 2-nanometer process technology, according to the note."Apple needs the iPhone models launched next week to deliver demand closer to in-line with the supply chains view of iPhone builds in (the second half of 2026) and into (the first half of next year)," Morgan Stanley said. "If not, the next three months could be 2022 deja vu."In July, Apple reported strong fiscal third-quarter results amid momentum in iPhone sales, though the company missed estimates for iPad and services revenue.Price: $325.44, Change: $+0.31, Percent Change: +0.09%

$AAPL$TSM
Wire

Apple's iPhone 18 Launch Could Be Most 'Consequential' Since iPhone X, Morgan Stanley Says

Apple's (AAPL) upcoming iPhone 18 launch could be its most "consequential" since the iPhone X, as the company prepares to introduce its first foldable iPhone alongside what could be the largest like-for-like price increases in years, Morgan Stanley said in a note Wednesday.The investment firm said it expects "strong" initial demand for the foldable iPhone, with about 6.5 million shipments likely in the December quarter to potentially generate roughly $14 billion in revenue.The iPhone 18 Pro lineup is expected to adopt Taiwan Semiconductor Manufacturing's (TSM) 2-nanometer process, which could improve on-device artificial intelligence performance and power efficiency, according to the note.Rising NAND and DRAM costs are expected to push starting prices for the iPhone 18 Pro and Pro Max up by $200, though supply-chain checks suggest Apple remains confident in demand, Morgan Stanley said. Component availability, particularly memory supply, could limit near-term builds, the note added.The firm said it leans more positively than negatively on Apple, but noted that further stock upside will depend on strong post-launch sell-through and positive earnings estimate revisions.Morgan Stanley has an overweight rating on Apple, with a price target of $360.Price: $324.56, Change: $-0.57, Percent Change: -0.18%

$AAPL$TSM
Amkor 'Underappreciated Beneficiary' of Advanced Semiconductor Packaging, BofA Says
US Markets

Amkor 'Underappreciated Beneficiary' of Advanced Semiconductor Packaging, BofA Says

Amkor Technology (AMKR) is an "underappreciated beneficiary" of the increasing complexity associated with semiconductor packaging, BofA Securities said Thursday.The brokerage initiated coverage of the semiconductor packaging giant's stock with a buy rating and a $70 price objective."We see (Amkor) as an underappreciated beneficiary of rising semiconductor packaging complexity, (artificial intelligence/high performance computing-related) advanced packaging demand and US supply-chain regionalization," BofA analyst Ruplu Bhattacharya said in a note to clients.Amkor shares were up 5.4% in Thursday afternoon trade, bringing its year-to-date gains to 29%.The company continues to be a cyclical and capital-intensive provider of outsourced semiconductor assembly and testing services, BofA said. The market isn't fully reflecting Amkor's mix shift toward advanced products and the long-term strategic value of its upcoming expanded semiconductor facility in Arizona, according to the note.In May, the company announced it acquired an additional space next to its Arizona semiconductor campus as it expands advanced packaging and testing operations in the US. The facility is expected to assist Amkor in capturing advanced packaging business in the future from customers seeking to diversify their semiconductor supply chains, Bhattacharya said Thursday.The company's business is becoming "less transactional," while it should benefit from improved visibility into loading, reducing the risk associated with advanced-packaging assets being installed without identified demand, BofA said.The brokerage expects Amkor's annual earnings to reach $3.41 a share in 2028, compared with $1.51 in 2025, amid an expected improvement in mix and utilization.BofA also highlighted key risks to the company, such as high capital intensity, negative free cash flow through its investment cycle and advanced-packaging competition.Earlier this year, Amkor entered into a multiyear partnership with chipmaking giant Nvidia (NVDA) to develop advanced semiconductor packaging and test technologies for next-generation AI and accelerated computing platforms. Separately, Amkor signed a 10-year partnership with Taiwan Semiconductor Manufacturing (TSM) on advanced semiconductor packaging capabilities in Arizona.Price: $51.24, Change: $+2.84, Percent Change: +5.87%

$AMKR$NVDA$TSM
Sectors

Sector Update: Tech Stocks Fall Premarket Monday

Technology stocks were falling premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.9% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.1% lowerIBM (IBM) said it introduced a dual-architecture mainframe processor that allows businesses to use both IBM and Arm's (ARM) operating systems on future IBM Z and LinuxONE computers. Shares of Arm were down more than 2% pre-bell.STMicroelectronics (STM) and the National University of Singapore have launched a four-year research initiative focused on developing edge artificial intelligence technologies, the parties said. STMicroelectronics shares were down more than 1% premarket.Taiwan Semiconductor Manufacturing (TSM) is partnering with Xiaomi to make a new version of the Chinese smartphone maker's Xring handset processor, Reuters reported, citing unnamed sources. Taiwan Semiconductor Manufacturing stock was 0.6% lower premarket.

$ARM$IBM$STM$TSM$XLK$XSD
Sectors

Sector Update: Tech Stocks Edge Higher Premarket Tuesday

Technology stocks were higher premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 2.3%.Taiwan Semiconductor Manufacturing (TSM) and Sony Semiconductor Solutions, a subsidiary of Sony Group (SONY), said they agreed to establish a joint venture in Kumamoto Prefecture in Japan, to develop and manufacture advanced image sensors for smartphones, with volume production expected to begin in 2029. Shares of Taiwan Semiconductor were nearly 1% higher pre-bell.SK hynix (SKHY) plans to resume construction at its second NAND flash facility in Dalian, China, to boost local output by about 50%, Seoul Economic Daily reported, citing semiconductor industry sources. SK hynix shares were up more than 2% pre-bell.Ouster (OUST) stock was up more than 2% after the company said Econolite was awarded an expansion contract by the Utah Department of Transportation to deploy Ouster's BlueCity lidar sensor traffic management at an additional 160 intersections statewide.

$OUST$SKHY$SONY$TSM$XLK$XSD
Sectors

Sector Update: Tech

Technology stocks were higher premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) up 2.3%.Taiwan Semiconductor Manufacturing (TSM) and Sony Semiconductor Solutions, a subsidiary of Sony Group (SONY), said they agreed to establish a joint venture in Kumamoto Prefecture, Japan, to develop and manufacture advanced image sensors for smartphones, with volume production expected to begin in 2029. Shares of Taiwan Semiconductor Manufacturing were nearly 1% higher pre-bell.

$SONY$TSM
Wire

Update: Market Chatter: Microsoft Plans to Ramp Up Homegrown AI Chip Production Next Year

(Update with Microsoft's response to a request for comment.)Microsoft (MSFT) intends to greatly increase production of its internally designed artificial intelligence chips next year and hopes to persuade Anthropic and other large cloud customers to use them, The Information reported Monday, citing two people with direct knowledge of the plans.The tech giant plans to unveil its new Maia 300 chip this fall, possibly as soon as September, the report said, citing one of the people.Microsoft is currently in talks with Taiwan Semiconductor Manufacturing (TSM) to secure manufacturing capacity for over 300,000 of the chips for 2027 delivery, the report said, citing the second person. That figure is significantly higher than the tens of thousands of Maia 200 chips Microsoft has produced so far, the report said."Microsoft continues to invest in custom silicon as part of our long-term AI infrastructure strategy. While we don't share production volumes, the figures reported don't reflect the scale of our program," Azure Maia General Manager Andrew Wall said in an emailed statement to. "We expect our Azure Maia deployments to support AI workload demand measured in gigawatts."(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: $508.01, Change: $+8.02, Percent Change: +1.60%

$MSFT$TSM
Wire

Update: Market Chatter: TSMC Developing AI Chip-Packaging Technology Similar to Intel's

(Updates with TSMC's response to a request for comment.)Taiwan Semiconductor Manufacturing (TSM), or TSMC, is developing advanced AI chip-packaging technology akin to what Intel (INTC) already offers, as it looks to better compete with a distant rival, The Information reported Thursday, citing two people with direct knowledge of the matter.TSMC declined to comment to.(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: $403.03, Change: $+28.36, Percent Change: +7.57%

$INTC$TSM
Sectors

Sector Update: Tech Stocks Sharply Higher Thursday Afternoon

Tech stocks were sharply higher Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 5% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing up 6.9%.The Philadelphia Semiconductor index popped 7.8%.In corporate news, Microsoft (MSFT) shares jumped past 16% after the company reported higher-than-expected fiscal Q4 results in the previous day.Taiwan Semiconductor Manufacturing (TSM) is developing advanced AI chip-packaging technology akin to what Intel (INTC) already offers, as it looks to better compete with a distant rival, The Information reported. Taiwan Semiconductor shares climbed 8%, and Intel gained 13%.Meta Platforms (META) shares fell 9% after it provided a soft Q3 revenue outlook following an unexpected year-over-year decline in quarterly earnings. Meta also raised the lower end of its capital expenditure guidance.

$INTC$META$MSFT$TSM
Sectors

Sector Update: Tech Stocks Fall Wednesday Afternoon

Tech stocks were lower Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.3% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.2%.The Philadelphia Semiconductor index slumped 3.7%.In corporate news, Vertiv (VRT) shares fell past 16% after the company's Q2 revenue increased year on year but missed analysts' estimates.Taiwan Semiconductor Manufacturing (TSM) and Toyota (TM) were among manufacturers whose operations were disrupted after a powerful earthquake struck Japan's Kumamoto prefecture, Nikkei Asia reported. Taiwan Semiconductor evacuated personnel from its JASM semiconductor plant in Kumamoto after the quake triggered mandatory evacuation procedures, while some construction work at JASM's second fab was temporarily suspended as a precaution, a company spokesperson told Nikkei Asia. Taiwan Semiconductor shares fell 3.3%.Microsoft (MSFT) is facing a probe in the UK over concerns that the company may not have released clear, upfront information on changes to Microsoft 365 personal and family subscription plans, the UK's Competition and Markets Authority said Wednesday. Microsoft shares were up 0.7%.

$MSFT$TSM$VRT
Wire

Update: Market Chatter: Taiwan Semiconductor Manufacturing, Toyota Operations Hit by Japan Earthquake

(Updates to include a statement from Taiwan Semiconductor Manufacturing in the fourth paragraph.)Taiwan Semiconductor Manufacturing (TSM) and Toyota Motor (TM) were among manufacturers whose operations were disrupted after a powerful earthquake struck Japan's Kumamoto prefecture, Nikkei Asia reported Wednesday.Taiwan Semiconductor Manufacturing evacuated personnel from its JASM semiconductor plant in Kumamoto after the quake triggered mandatory evacuation procedures, while some construction work at JASM's second fab was temporarily suspended as a precaution, a company spokesperson told Nikkei Asia.Toyota will halt production at three plants in Fukuoka prefecture from Wednesday evening through Friday while it assesses safety, logistics and supplier conditions, the report said, citing the automaker.Taiwan Semiconductor Manufacturing toldthat JASM structures are safe following structural inspections and it is now inspecting equipment and doing recovery works. The company also said it is still assessing the earthquake's impact.Toyota Motor 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: $383.08, Change: $-9.23, Percent Change: -2.35%

$TM$TSM
Intel Tops Quarterly Estimates as Data Center Boost Drives Fastest Revenue Growth in 15 Years
US Markets

Intel Tops Quarterly Estimates as Data Center Boost Drives Fastest Revenue Growth in 15 Years

Intel (INTC) reported second-quarter results ahead of Wall Street's estimates late Thursday, with the strongest revenue growth in 15 years driven by a 59% surge in the data center and artificial intelligence unit.The chipmaker reported adjusted earnings of $0.42 per share, compared with a loss of $0.10 a year earlier. Analysts polled by FactSet expected $0.22 in EPS. Revenue grew 25% to $16.13 billion, compared with the Street's $14.43 billion view."Our (second-quarter) results represent our strongest revenue growth in more than fifteen years, enabled by greater speed, accountability, and customer focus," Chief Executive Lip-Bu Tan said in a statement.Sales for the data center and AI segment surged 59% to $6.26 billion in the second quarter, while client computing and physical AI group increased 13% to $8.88 billion. Revenue for the foundry business rose 31% to $5.77 billion."AI-driven compute continues to strengthen, and to support expected growth this year and next across products and foundry, we are meaningfully increasing our investments in equipment, clean room space, and substrates," Chief Financial Officer Dave Zinsner said.Adjusted free cash flow moved deeper into negative territory, at $8.42 billion compared with a negative balance of $1.05 billion a year earlier.Wedbush Securities projected Intel's second-quarter results to top estimates due to server demand and rising prices. However, the brokerage cautioned market reaction could hinge more on broader sentiment than operational beats.Taiwan Semiconductor Manufacturing's (TSM) quarterly beat couldn't avert a sector-wide sell-off sparked by worries over China's advances in AI, global economic conditions and data center spending, Wedbush analysts Matt Bryson and Antoine Legault said in a report on Monday."And while Intel may be better positioned to deal with at least one of these worries, with Intel's valuation well above historical norms (and industry peers), we also believe it is arguably more susceptible to broader market swings [unlike say TSM or Nvidia (NVDA)]," Bryson and Legault wrote.For the third quarter, Intel expects adjusted EPS of $0.38 on revenue of $15.8 billion to $16.8 billion. Analysts are looking for $0.27 and $15.08 billion, respectively.The company's shares were up 9.3% in after-hours trading, and have gained 172% this year through Thursday close.

$INTC$NVDA$TSM
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) rising 2.7% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 5.2%.The Philadelphia Semiconductor index gained 4.9%.In corporate news, Apple (AAPL) is planning to launch a new program on July 28 through which customers can lease devices, including most iPhone, Mac, iPad and Apple Watch models, Bloomberg reported. Apple shares rose 0.5%.Intel (INTC) is planning to lay off workers in its data center group, Business Insider reported Tuesday, citing a company spokesperson. Separately, RBC Capital Markets said in a note Intel is expected to report a decent Q2 supported by server CPU demand and pricing momentum. Intel shares jumped past 8%.Taiwan Semiconductor Manufacturing (TSM) plans to raise prices for both advanced and mature chip manufacturing by up to 10% beginning in 2027, Nikkei Asia reported. Taiwan Semiconductor shares climbed 5.3%.Amazon.com's (AMZN) platform that serves businesses and government entities reached $60 billion in annualized sales in the second quarter, the e-commerce giant said Tuesday. That's up from more than $35 billion in global annualized sales for Amazon Business in 2023. Amazon shares were down 1%.

$AAPL$AMZN$INTC$TSM
Sectors

Sector Update: Tech Stocks Gain Tuesday Afternoon

Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.8% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 5.1%.The Philadelphia Semiconductor index gained 5.4%.In corporate news, Intel (INTC) is planning to lay off workers in its data center group, Business Insider reported Tuesday, citing a company spokesperson. Separately, RBC Capital Markets said in a note Intel is expected to report a decent Q2 supported by server CPU demand and pricing momentum. Intel shares jumped 8.1%.Taiwan Semiconductor Manufacturing (TSM) plans to raise prices for both advanced and mature chip manufacturing by up to 10% beginning in 2027, Nikkei Asia reported. Taiwan Semiconductor shares climbed 5.4%.Amazon.com's (AMZN) platform that serves businesses and government entities reached $60 billion in annualized sales in the second quarter, the e-commerce giant said Tuesday. That's up from more than $35 billion in global annualized sales for Amazon Business in 2023. Amazon shares were down 0.6%.

$AMZN$INTC$TSM
Sectors

Sector Update: Tech Stocks Rise Pre-Bell Tuesday

Technology stocks were rising pre-bell Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) 1.8% higher and the State Street SPDR S&P Semiconductor ETF (XSD) up 3.7%.Taiwan Semiconductor Manufacturing (TSM) plans to raise prices for both advanced and mature chip manufacturing by up to 10% beginning in 2027, Nikkei Asia reported, citing multiple unnamed sources. Shares of Taiwan Semiconductor Manufacturing were up more than 3% premarket.Mobileye (MBLY) shares were up more than 2% after the company said its cloud-enhanced Advanced Driver Assistance technology will be integrated into select future Stellantis (STLA) vehicles beginning next year.Oracle (ORCL) could be required to provide more than $7 billion in collateral for its planned Wisconsin data center after the state's utility regulator declined to ease credit rules for large power users, the Financial Times reported. Oracle stock was up more than 1% pre-bell.

$MBLY$ORCL$STLA$TSM$XLK$XSD
Sectors

Sector Update: Tech

Technology stocks were rising pre-bell Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) 1.9% higher and the State Street SPDR S&P Semiconductor ETF (XSD) up 3.7%.Taiwan Semiconductor Manufacturing (TSM) plans to raise prices for both advanced and mature chip manufacturing by up to 10% beginning in 2027, Nikkei Asia reported, citing multiple unnamed sources. Shares of Taiwan Semiconductor Manufacturing were up more than 3% premarket.

$TSM
Sectors

Sector Update: Tech Stocks Advance Premarket Monday

Technology stocks were advancing premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) advancing by 1.1% and the State Street SPDR S&P Semiconductor ETF (XSD) up 1.6%.Taiwan Semiconductor Manufacturing (TSM) is accelerating the expansion of its Arizona chip manufacturing operations to capitalize on a multi-year artificial intelligence demand trend, Chief Financial Officer Wendell Huang said in an interview with CNBC. Shares of Taiwan Semiconductor Manufacturing were up more than 2% pre-bell.Alibaba Group (BABA) stock was up more than 3% after the company said it will soon release the open-weight version of its new Qwen3.8 artificial intelligence model.Meta Platforms (META) is set to go on trial in Tennessee on Monday over allegations that it violated the state's consumer protection law by knowingly designing Instagram in a way that drives teens to compulsive use and misleading the public about its safety, Reuters reported. Shares of Meta Platforms were 0.1% higher pre-bell.

$BABA$META$TSM$XLK$XSD
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Monday Ahead of Key Earnings Reports

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5%, and the actively traded Invesco QQQ Trust (QQQ) advanced 1% in Monday's premarket activity, ahead of a pivotal week for corporate earnings.US stock futures were mixed, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.7% before the start of regular trading.The index of leading economic indicators for June will be released at 10:00 am ET.In premarket action, bitcoin was down by 0.5%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.2% higher, Ether ETF (EETH) advanced 1.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.5% lower.Hut 8 (HUT) shares traded up 13% in early hours activity after the company said it has signed a second 15-year lease worth $9.8 billion for 352 megawatts of IT capacity at its Beacon Point data center campus in Nueces County, Texas, fully commercializing the site's 1-gigawatt utility capacity.Winners and Losers:EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.3%.Fervo Energy Company (FRVO) stock was up more than 5% before market open after Jefferies upgraded the company to buy from hold.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.3%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.4%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was up 0.3%.Alibaba Group (BABA) shares were up more than 3% pre-bell after a 2% fall at Friday's close. Reuters reported Monday that Alibaba-backed Moonshot AI temporarily paused new subscriptions as high demand for its recent Kimi K3 model overloaded capacity.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.6%, while the Vanguard Industrials Index Fund (VIS) was up 1.1% and the iShares US Industrials ETF (IYJ) was inactive.Elbit Systems' (ESLT) stock was up more than 2% before the opening bell after the company said its Elbit Systems of America unit received multiple contract awards worth more than $370 million from US Customs and Border Protection to enhance US national security.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1%, and the iShares US Technology ETF (IYW) was 1.3% higher, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was up 1.9%, while the iShares Semiconductor ETF (SOXX) rose by 2.4%.Taiwan Semiconductor Manufacturing (TSM) shares were up more than 2% in premarket activity after Chief Financial Officer Wendell Huang said in a Sunday interview with CNBC that the company is accelerating the expansion of its Arizona chip manufacturing operations to capitalize on a multi-year artificial intelligence demand trend.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.01%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 0.3% higher.OKYO Pharma (OKYO) stock was up more than 1% premarket after the company said its cash position of around $20.6 million as of the end of March enables completion of a 111-patient phase 3 trial of its lead candidate, urcosimod, for the potential treatment of neuropathic corneal pain.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.5% to $82.12 per barrel on the New York Mercantile Exchange. Natural gas was down by 1.2% to $2.88 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 0.5%, while the United States Natural Gas Fund (UNG) was 0.7% lower.Gold futures for July retreated 0.1% to $4,015.20 an ounce on the Comex. Silver futures were up 1.2% to $57.01 an ounce. SPDR Gold Shares (GLD) decreased 0.2%, and the iShares Silver Trust (SLV) was 1.1% higher.

Dow JonesNasdaq CompositeS&P 500$BABA$BETH$BITO$EEM$EETH$ESLT$EXI$FAS$FAZ$FRVO$GLD$HUT$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$OKYO$PMR$QQQ$RTH$SLV$SOXX$SPY$TSM$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Tech

Technology stocks were edging higher premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) slightly advancing and the State Street SPDR S&P Semiconductor ETF (XSD) up 1.9%.Taiwan Semiconductor Manufacturing (TSM) is accelerating the expansion of its Arizona chip manufacturing operations to capitalize on a multi-year artificial intelligence demand trend, Chief Financial Officer Wendell Huang said in an interview with CNBC. Shares of Taiwan Semiconductor Manufacturing were up more than 2% pre-bell.

$TSM

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