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Japan

Update: US Equity Indexes Mixed as Slumping Technology Pushes Nasdaq, S&P 500 Lower

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes traded mixed as a sell-off in chipmakers pushed technology sharply lower, while UnitedHealth's (UNH) strong Q2 results helped lift the price-weighted Dow Jones Industrial Average.The Nasdaq declined 0.8% to 26,063.2, and the S&P 500 fell 0.2% to 7,557.6 after midday Thursday. The Dow Jones Industrial Average bucked the intraday trend, up 0.2% to 52,769.1.Consumer staples, healthcare, and real estate topped the gainers, while technology slumped, down 1.8% intraday.Shares of Taiwan Semiconductor Manufacturing (TSM) retreated 2.6% after the firm earmarked an additional $100 billion to increase its chipmaking capacity in the US, raising its total planned investment to $265 billion, Bloomberg reported Thursday, citing a US official. Taiwan Semiconductor also reported Q2 results on Thursday, with year-over-year earnings and net revenue rising and Q3 sales guidance beating consensus.Among stocks with market capitalization exceeding $200 billion each, 15 out of the bottom 20 names were from the technology sector, according to data compiled by Finviz. Half of the decliners were semiconductor firms, the data showed. The worst performer was SanDisk (SNDK), down 9.5%.In company news, UnitedHealth's shares jumped 3.5%, making it one of the Dow's top gainers, after the company posted higher Q2 adjusted earnings and revenue and raised its 2026 adjusted EPS outlook.In geopolitical news, Iran has asked Yemen's Houthi movement to stand ready to close the Red Sea oil route if the US strikes Iranian power infrastructure, Reuters reported, citing three sources.The front-month US West Texas Intermediate was little changed at $79.61 a barrel, and global benchmark North Sea Brent was steady at $84.96 a barrel. Both crude oil types traded lower earlier in the session.Most US Treasury yields rose after midday, with the 10-year up 2.8 basis points to 4.57%.

Dow JonesNasdaq CompositeS&P 500$SNDK$TSM$UNH
Wire

Top Midday Stories: Taiwan Semiconductor Q2 Earnings Top Estimates, Increases Capex; UnitedHealth Raises Full-Year Guidance

The S&P 500 and Nasdaq Composite were down in late-morning trading Thursday, while the Dow Jones Industrial Average was up slightly, as Taiwan Semiconductor Manufacturing's (TSM), or TSMC's, latest earnings report dragged down chip stocks.In company news, TSMC reported Q2 earnings Thursday of 27.25 New Taiwan dollars ($0.86) per diluted share, up from NT$15.36 a year earlier and above the FactSet consensus analyst estimate of NT$24.20. Net Q2 revenue was NT$1.270 trillion, up from NT$933.79 billion a year ago and above the FactSet consensus of NT$1.266 trillion. For Q3, the chipmaker said it expects revenue of $44.6 billion to $45.8 billion, above the FactSet consensus of $43.21 billion. Separately, TSMC has reserved an additional $100 billion to increase its chipmaking capacity in the US, raising its total planned investment to $265 billion, Bloomberg reported Thursday, citing a US official. TSMC shares were down 2.1% around midday.UnitedHealth Group (UNH) reported Q2 adjusted earnings Thursday of $6.38 per diluted share, up from $4.08 a year earlier and above the FactSet consensus of $4.91. Second-quarter revenue was $112.03 billion, up from $111.62 billion a year ago and above the FactSet consensus of $110.81 billion. For 2026, the insurance company raised its adjusted EPS guidance to $19.50 to $20 from greater than $18.25. Analysts expect $18.49. UnitedHealth shares were up 3.3%.Abbott Laboratories (ABT) reported Q2 adjusted earnings Thursday of $1.31 per diluted share, up from $1.26 a year earlier and above the FactSet consensus of $1.28. Second-quarter revenue was $12.59 billion, up from $11.14 billion a year ago and above the FactSet consensus of $12.52 billion. For Q3, Abbott said it expects adjusted diluted EPS of $1.38 to $1.46, compared to the FactSet consensus of $1.42. For 2026, the company raised its adjusted EPS guidance to $5.45 to $5.60 from $5.38 to $5.58. Analysts polled by FactSet expect $5.47. Abbott shares were up 11%.Uber Technologies (UBER) on Thursday said it has entered into a business combination agreement with Delivery Hero in a deal with an equity value of $14.8 billion, or $13.7 billion adjusted for Uber's prior stake purchases. Under the terms of the deal, Delivery Hero shareholders will receive cash consideration of 41.50 euros ($47.60) per share. Uber shares were up 1.6%.GE Aerospace (GE) reported Q2 adjusted earnings Thursday of $2.02 per share, up from $1.66 a year earlier and above the FactSet consensus of $1.86. Second-quarter revenue was $13.35 billion, up from $11.02 billion a year ago and above the FactSet consensus of $11.87 billion. For 2026, the company raised its adjusted EPS guidance to $7.65 to $7.85 from $7.10 to $7.40. Analysts polled by FactSet expect $7.56. GE shares were down 4.3%.Price: $410.53, Change: $-8.95, Percent Change: -2.13%

$ABT$GE$TSM$UBER$UNH
Sectors

Sector Update: Tech Stocks Fall Premarket Thursday

Technology stocks were falling premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) down 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) 3.1% lower.Taiwan Semiconductor Manufacturing (TSM) shares were down nearly 4% even after the company reported higher Q2 earnings and net revenue.Uber Technologies (UBER) stock was up more than 1% after the company disclosed its acquisition offer to buy Berlin-based Delivery Hero in a deal representing an equity value of $14.8 billion, or $13.7 billion adjusted for Uber's prior stake purchases.Baidu (BIDU) shares were up more than 2% 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.

$BIDU$TSM$UBER$XLK$XSD
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
Sectors

Sector Update: Tech

Technology stocks were falling premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) down 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.6% lower.Taiwan Semiconductor Manufacturing (TSM) shares were down more than 4%, even after the company reported higher Q2 earnings and net revenue.

$TSM
Stocks Mostly Down Pre-Bell as Investors Await More Earnings, Retail Sales Data
US Markets

Stocks Mostly Down Pre-Bell as Investors Await More Earnings, Retail Sales Data

US equity markets were mostly tracking in the red before the opening bell Thursday as traders await the latest round of earnings and the June retail sales report.The S&P 500 edged down 0.1% and the Nasdaq was off 0.5% in premarket activity, while the Dow Jones Industrial Average rose 0.2%. The three main indexes finished Wednesday trading higher for the second consecutive session.UnitedHealth (UNH), GE Aerospace (GE), Abbott Laboratories (ABT), Prologis (PLD), US Bancorp (USB), State Street (STT) and Citizens Financial (CFG) are expected to report their latest financial results before the bell, among others. Streaming giant Netflix (NFLX) posts its earnings after the markets close.Taiwan Semiconductor Manufacturing's (TSM) US-listed shares declined 3.9% pre-bell after the semiconductor manufacturer reported its second-quarter results. United Airlines (UAL) was down 2.3% as the air carrier flagged an additional $6 billion in fuel costs for 2026 amid rising oil prices.J.B. Hunt Transport Services (JBHT) jumped 6.4% as the transportation and logistics company's second-quarter results topped market estimates. Apple (AAPL) added 0.2% after finishing Wednesday with a 4% gain amid media reports that the iPhone maker has held talks with bankers in recent months about possible acquisitions of chip companies.Last month's retail sales report is out at 8:30 am ET.Government data showed Wednesday that producer prices unexpectedly dropped on a monthly basis in June amid a steep decline in the cost of energy products. Earlier in the week, an official report showed that consumer prices decreased last month for the first time in more than six years."While still nominally elevated at a dangerously high level, the relative improvement in inflation in June emboldens the more dovish argument that price pressures are already cooling and could retreat further into year-end as the lingering impact from tariffs falls off and energy prices potentially normalize amid -- still tentative -- but ongoing, US-Iran peace negotiations," Stifel said in a note Wednesday.US Treasury yields were up in premarket action, with the two-year rate increasing 3.2 basis points to 4.16% and the 10-year rate adding 2.8 basis points to 4.57%.Thursday's economic calendar also has the weekly jobless claims bulletin at 8:30 am, along with the Philadelphia Fed manufacturing index for July. The housing market index for the current month and the pending home sales index for June are both out at 10 am.Federal Reserve Vice Chair Philip Jefferson, Dallas Fed President Lorie Logan and Kansas City Fed President Jeffrey Schmid are all slated to speak on Thursday.Inflation is more likely to accelerate than cool given price pressures arising from an artificial intelligence boom and major supply shocks, Fed Governor Lisa Cook said Wednesday. Separately, New York Fed President John Williams said that inflation should ease in the next few quarters as energy prices retreat.West Texas Intermediate crude oil dipped less than 0.1% to $79.59 a barrel before the open, while Brent nudged down 0.3% to $84.72.The US Central Command said Wednesday its forces disabled an unladen oil tanker attempting to transit towards an Iranian port in the Arabian Gulf. The US resumed its naval blockade on Iranian ships and ports earlier this week.A spokesperson for Iran's top military command reportedly said Thursday that it will destroy key infrastructure in the Middle East if the US follows through on President Donald Trump's threat to attack power plants and bridges in the country in case a deal isn't finalized, CNBC reported.Gold decreased 0.3% to $4,039 per troy ounce, while bitcoin fell 1.1% to $64,176.

Dow JonesNasdaq CompositeS&P 500$AAPL$ABT$CFG$GE$JBHT$NFLX$PLD$STT$TSM$UAL$UNH$USB
Japan

US Equity Futures Mixed Pre-Bell as Traders Cautious on Tech, US Strikes Iran Targets Anew

US equity futures were mixed 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 0.2% higher, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.8% lower.SK Hynix (SKHY) stock fell more than 11% in Seoul and 5% 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 lower, with front-month global benchmark North Sea Brent crude down 0.5% at $84.52 per barrel and US West Texas Intermediate crude 0.3% lower at $79.37 per barrel.The June retail sales report, slated for 8:30 am ET, is forecast to show a 0.2% increase following a 0.9% gain in the previous month, according to estimates compiled by Bloomberg. The weekly jobless claims bulletin is expected to show 217,000 new unemployment claims for the week ended July 11, up from 215,000 in the prior week. The Philadelphia Fed's regional manufacturing index for July is seen coming in at 12.5, up from 10.3 posted previously.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.

Dow JonesNasdaq CompositeS&P 500$SKHY$TSM
Sectors

Sector Update: Tech Stocks Decline in Afternoon Trading

Tech stocks were lower Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.6% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.6%.The Philadelphia Semiconductor index shed 2.9%.In sector news, DeepSeek is planning a new fundraising round at a valuation of about 500 billion yuan ($74 billion) ahead of a potential listing on Shanghai's STAR Market, Reuters reported. According to the report, DeepSeek is looking to raise up to 50 billion yuan just weeks after the funding round in June. The startup has begun early discussions on a potential IPO, targeting an initial filing this year, although the plans remain subject to change, multiple reports said.In corporate news, Apple (AAPL) has held talks with bankers in recent months about possible deals for chip companies, as it looks to enhance its efforts to build server chips for running AI, The Information reported. Apple shares rose 4.1%.Nvidia (NVDA) has shipped only a limited number of H200 AI chips to China and Hong Kong despite the issuance of US export licenses, Under Secretary of Commerce for Industry and Security Jeffrey Kessler told a congressional hearing on Tuesday. Nvidia shares were down 1.3%.ASML (ASML) reported Q2 earnings Wednesday of 7.58 euros ($8.66) per diluted share, up from 5.90 euros a year earlier but below the FactSet consensus analyst estimate of 8.59 euros. Second-quarter net sales were 9.33 billion euros, up from 7.69 billion euros a year ago but below the FactSet consensus of 10.44 billion euros. Separately, ASML is planning to raise prices for its chip production equipment, The Information reported. The price increase has elicited a pushback from chipmaker Taiwan Semiconductor Manufacturing (TSM), two of the sources told the news outlet. ASML shares were up 0.9%, and Taiwan Semiconductor was shedding 0.9%.

$AAPL$ASML$NVDA$TSM
Wire

Update: Market Chatter: ASML to Raise Equipment Prices; Taiwan Semiconductor Pushes Back

(Updates with ASML response in the fourth paragraph.)ASML (ASML) is planning to raise prices for its chip production equipment, The Information reported Wednesday, citing four sources with knowledge of the discussions.The price increase has elicited a pushback from chipmaker Taiwan Semiconductor Manufacturing (TSM), two of the sources told the news outlet.ASML has also told other chipmakers in China that it plans to charge 10% more for its deep ultraviolet systems, with some agreeing to the higher prices, according to the report.ASML declined to comment, but directedto a recording of its Q2 earnings call that addressed the topic of pricing. Taiwan Semiconductor did not immediately reply to a 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: $1789.40, Change: $+13.76, Percent Change: +0.77%

$ASML$TSM
Sectors

Sector Update: Tech

Tech stocks were lower Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.9% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.1%.The Philadelphia Semiconductor index shed 3.2%.In corporate news, ASML (ASML) reported Q2 earnings Wednesday of 7.58 euros ($8.66) per diluted share, up from 5.90 euros a year earlier but below the FactSet consensus analyst estimate of 8.59 euros. Second-quarter net sales were 9.33 billion euros, up from 7.69 billion euros a year ago but below the FactSet consensus of 10.44 billion euros. Separately, ASML is planning to raise prices for its chip production equipment, The Information reported. The price increase has elicited a pushback from chipmaker Taiwan Semiconductor Manufacturing (TSM), two of the sources told the news outlet. ASML shares were up 0.5%, and Taiwan Semiconductor was shedding 0.9%.

$ASML$TSM
Wire

Market Chatter: ASML to Raise Equipment Prices; Taiwan Semiconductor Pushes Back

ASML (ASML) is planning to raise prices for its chip production equipment, The Information reported Wednesday, citing four sources with knowledge of the discussions.The price increase has elicited a pushback from chipmaker Taiwan Semiconductor Manufacturing (TSM), two of the sources told the news outlet.ASML has also told other chipmakers in China that it plans to charge 10% more for its deep ultraviolet systems, with some agreeing to the higher prices, according to the report.ASML and Taiwan Semiconductor did not 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: $1742.81, Change: $-32.83, Percent Change: -1.85%

$ASML$TSM
Wire

Top Midday Stories: Trump Says US to Be Guardian of Hormuz Strait; Meta to Invest Over $50 Billion in Louisiana Data Center Expansion

All three major US stock indexes were down in late-morning trading Monday, as the US and Iran exchanged airstrikes over the weekend.President Donald Trump said Monday on Truth Social that the US will act as "THE GUARDIAN OF THE HORMUZ STRAIT" and will receive reimbursement for all incurred costs "at the rate of 20% on all cargo shipped." Trump said the strait is open and will remain so for all non-Iranian vessels.In company news, Meta Platforms (META) said Monday it plans to invest over $50 billion in its Richland Parish, Louisiana, infrastructure project to expand its computing capacity to 5 gigawatts. The tech giant will finance seven new natural gas-generating plants and three grid-scale batteries to completely cover its power requirements. Meta shares were down 1% around midday.Funds managed by Blackstone (BX) Credit & Finance, in partnership with Apollo Global Management (APO) and KKR-managed (KKR) insurance vehicles will invest $5.34 billion in Williams' (WMB) five Power Innovation projects in exchange for a 49% noncontrolling equity interest in the projects, Williams said Monday. Blackstone shares were down 0.8%, and Williams shares were down 0.1%. Apollo and KKR shares were down 0.8% and 0.3%, respectively.Taiwan Semiconductor Manufacturing (TSM) said Monday its net revenue for June totaled about 442.68 billion New Taiwan dollars ($13.79 billion), up 6.2% from the previous month and up 67.9% from a year earlier. Its shares were down 1.2%.First Hawaiian (FHB) said Monday it has signed a definitive agreement to acquire TriCo Bancshares (TCBK) in an all-stock deal. Under the deal terms, TriCo shareholders will receive 2.095 First Hawaiian shares for each TriCo share, valued at $63.12 per share based on First Hawaiian's July 10 closing price. First Hawaiian shares were down 4.6%, while TriCo shares were up 10.5%.Ferguson Enterprises (FERG) said Monday it has entered into a definitive agreement to acquire FWI Holdings, or FloWorks, in a deal with an enterprise value of about $1.6 billion. The deal is expected to close in Q3, subject to regulatory approvals and closing conditions. Ferguson shares were up 2.1%.Roughly a dozen states are set to file a lawsuit Monday in federal court in an effort to block Paramount Skydance's (PSKY) acquisition of Warner Bros. Discovery (WBD), Bloomberg reported, citing a person familiar with the matter. Paramount and Warner Bros. shares were up 2.7% and 0.5%, respectively.A federal appeals court on Monday vacated a district court's earlier dismissal of plaintiff claims that they were not warned that prenatal ingestion of Kenvue's (KVUE) Tylenol and its generic equivalents could cause autism spectrum disorder attention-deficit/hyperactivity disorder. Kenvue shares were down 1.6%.Price: $662.82, Change: $-6.39, Percent Change: -0.95%

$APO$BX$KKR$KVUE$META$PSKY$TSM$WBD$WMB
Asia Markets

Update: US Equity Futures Drop Pre-Bell as Iran Says Strait of Hormuz Closed Once Again, Oil Prices Jump

(Updates with recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were lower pre-bell Monday as hostilities continued to re-escalate in the Middle East and Iran declared the Strait of Hormuz once again closed, driving up oil prices.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 1.2% lower.The US and Iran traded heavy missile and drone attacks over the weekend, with the US military saying they hit Iranian military facilities, while Iran's Revolutionary Guards said they had struck US installations in Bahrain, Kuwait, Oman and Jordan.Iran, which is seeking to set up a permanent fee and permit system for ships transiting the Strait of Hormuz, said Sunday that the waterway remains closed until "stability and calm" is restored.In a post on X, US Central Command said that its forces are "postured and prepared to ensure that freedom of navigation remains available to commercial shipping."Traders await a slew of earnings releases this week, including results from major US banks JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), and Citigroup (C) on Tuesday; Johnson & Johnson (JNJ), Morgan Stanley (MS), and BlackRock (BLK) on Wednesday; and Taiwan Semiconductor Manufacturing (TSM), UnitedHealth Group (UNH), GE Aerospace (GE), and Netflix (NFLX) on Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.3% at $79.27 per barrel and US West Texas Intermediate crude 4.2% higher at $74.41 per barrel.Federal Reserve board members Michelle Bowman and Christopher Waller are slated to speak on Monday.In other world markets, Japan's Nikkei closed 1.9% lower, Hong Kong's Hang Seng ended 0.2% higher, and China's Shanghai Composite finished 2.1% lower. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was flat in Europe's early afternoon session.In equities, Micron Technology (MU), AMD (AMD), and Intel (INTC) stocks were lower as part of a broader decline in the semiconductor sector. Micron shares fell 5.5%, AMD stock was down 2.9%, and Intel shares were 3.5% lower.On the winning side, the increase in oil prices lifted energy-related stocks. TotalEnergies (TTE) shares were up 1.6%, ConocoPhillips (COP) stock was 1.9% higher, and BP (BP) shares rose 1.6%. Accenture (ACN) stock was up 1% after the company said its subsidiary Accenture Capital on Friday closed the sale of five tranches of notes totaling approximately $5 billion.

Dow JonesNasdaq CompositeS&P 500$ACN$AMD$BAC$BLK$BP$C$COP$GE$GS$INTC$JNJ$JPM$MS$MU$NFLX$TSM$TTE$UNH$WFC
Japan

US Equity Futures Drop Pre-Bell as Iran Says Strait of Hormuz Closed Once Again, Oil Prices Jump

US equity futures were lower pre-bell Monday as hostilities continued to re-escalate in the Middle East and Iran declared the Strait of Hormuz once again closed, driving up oil prices.Dow Jones Industrial Average futures were down 0.1%, S&P 500 futures were down 0.3%, and Nasdaq futures were 0.9% lower.The US and Iran traded heavy missile and drone attacks over the weekend, with the US military saying they hit Iranian military facilities, while Iran's Revolutionary Guards said they had struck US installations in Bahrain, Kuwait, Oman and Jordan.Iran, which is seeking to set up a permanent fee and permit system for ships transiting the Strait of Hormuz, said Sunday that the waterway remains closed until "stability and calm" is restored.In a post on X, US Central Command said that its forces are "postured and prepared to ensure that freedom of navigation remains available to commercial shipping."Traders await a slew of earnings releases this week, including results from major US banks JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), and Citigroup (C) on Tuesday; Johnson & Johnson (JNJ), Morgan Stanley (MS), and BlackRock (BLK) on Wednesday; and Taiwan Semiconductor Manufacturing (TSM), UnitedHealth Group (UNH), GE Aerospace (GE), and Netflix (NFLX) on Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.4% at $78.59 per barrel and US West Texas Intermediate crude 3.4% higher at $73.88 per barrel.Federal Reserve board members Michelle Bowman and Christopher Waller are slated to speak on Monday.

Dow JonesNasdaq CompositeS&P 500$BAC$BLK$C$GE$GS$JNJ$JPM$MS$NFLX$TSM$UNH$WFC
Equity Futures Down Amid Middle East Tensions; Key Earnings on Deck
US Markets

Equity Futures Down Amid Middle East Tensions; Key Earnings on Deck

The benchmark US equity measures were pointing lower before the opening bell Monday amid rising tensions in the Middle East, as markets awaited key inflation data and some major corporate earnings due later this week.The S&P 500 declined 0.4% and the Nasdaq was off 1.2% in premarket activity, while the Dow Jones Industrial Average lost 0.1%. The three main indexes closed higher Friday.The US and Iran continued to exchange airstrikes over the weekend, news outlets reported.On Sunday, the US Central Command said it completed a new wave of strikes against Tehran at multiple locations, after conducting attacks a day earlier in response to the country targeting another commercial ship transiting through the Strait of Hormuz.Iran responded by targeting US military facilities in Jordan, Kuwait, Bahrain, Qatar and Oman, according to local state media. Iran's Islamic Revolutionary Guard Corps also reportedly said it closed the strait until further notice, though the US military disputed the claim."The Strait of Hormuz is open to all vessels seeking to lawfully transit the international waterway," CENTCOM said on the X platform. "Iran does not control the strait."West Texas Intermediate crude oil was up 3.4% at $73.81 a barrel before the open, while Brent gained 3.3% to $78.50.With no major economic data scheduled for Monday, traders await the official US consumer price index for June, scheduled for Tuesday, followed by data on wholesale prices and retail sales for the same month on Wednesday and Thursday, respectively.Federal Reserve Vice Chair for Supervision Michelle Bowman is scheduled to speak at 5:25 am ET Monday, while Fed Governor Christopher Waller speaks at 12:30 pm. Fed Chair Kevin Warsh's testimony is due later in the week.US Treasury yields were mixed in premarket action Monday, with the 10-year rate little changed at 4.57% and the two-year rate rising one basis point to 4.22%.Banking giants JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC), Morgan Stanley (MS), Citigroup (C) are all expected to release their latest financial results later this week, along with other major corporations, including Johnson & Johnson (JNJ), UnitedHealth (UNH) and Netflix (NFLX).Taiwan Semiconductor Manufacturing's (TSM) US-listed shares were up 0.1% pre-bell. Micron Technology (MU) fell 5.6%, while Nvidia (NVDA) decreased 1.7%.Gold dipped 0.9% to $4,075 per troy ounce, while bitcoin dropped nearly 2% to $62,893.

Dow JonesNasdaq CompositeS&P 500$BAC$C$GS$JNJ$JPM$MS$MU$NFLX$NVDA$TSM$UNH$WFC
Asia Markets

US Equity Investors to Focus on Banks Kicking Off Q2 Earnings, Warsh's Take on Inflation, Worsening Geopolitics This Week

US equity investors will focus on Q2 earnings this week, with big money-centre banks kicking off the earnings season in earnest, and consumer price inflation data amid an escalation of tensions with Iran.* JPMorgan Chase (JPM), Citibank (C), Bank of America (BAC), Goldman Sachs (GS), Morgan Stanley (MS), and Wells Fargo (WFC) are among banks reporting quarterly earnings, with investors expecting results to help counter tense geopolitics. ASML (ASML) and Taiwan Semiconductor Manufacturing (TSM) are among the others reporting, giving investors a fresh take on the state of the so-called AI trade.* Investors will look out for consumer and wholesale price inflation data amid the market pricing in at least one interest rate increase this year. Additionally, Federal Chair Kevin Warsh's testimony is due, alongside retail sales, Michigan consumer sentiment, and inflation expectations.* The combined probability that rates will be higher by 25 or 50 basis points from current levels by December is around 70%, according to the CME FedWatch tool. Investors will parse Warsh's testimony, which comes amid a worsening geopolitical environment and higher crude oil prices. Fed's June meeting minutes, released last week, showed "quite a divide" on the rate path given the impact of the war in Iran on inflation, a Stifel note said on Friday.* The US and Iran each asserted Monday they controlled the Strait of Hormuz after a weekend of attacks stretching across the wider Middle East, further threatening any diplomacy to end the war, the Associated Press reported early Monday.* Iran and the US are nearly at the midway point of a 60-day period that was supposed to result in a permanent end to the war, the news report said. Instead, it has devolved into a series of attacks over the strait and its future, worrying world leaders that the Iran war could fully resume, it added.* Early Monday, West Texas Intermediate crude oil futures jumped 3.4% to $73.87 a barrel.

Dow JonesNasdaq CompositeS&P 500$ASML$BAC$C$GS$JPM$MS$TSM$WFC
Wire

Market Chatter: US Proposes AI Partnership With EU to Secure Chip Supply Chains

The US is looking to partner with the EU on AI in an effort to secure supply chains for semiconductors amid increasing competition from China, Bloomberg reported Thursday, citing a draft statement of the proposal.EU member state ambassadors were briefed on the proposal this week, the report said, citing people familiar with the matter.The White House 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: $196.05, Change: $-2.86, Percent Change: -1.44%

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Wire

US Proposes AI Partnership With EU to Secure Supply Chains, Bloomberg Reports

US Proposes AI Partnership With EU to Secure Supply Chains, Bloomberg Reports

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Wire

Cerebras Systems' Q1 Outlook Hinges on Supply, Market Share Gains, Wedbush Says

Cerebras Systems' (CBRS) Q1 results versus expectations will likely depend on supply dynamics and early traction in the AI accelerator market, Wedbush Securities said Monday in a report.Wedbush cited several potential sources of upside, including the possibility of higher-than-expected wafer output from Taiwan Semiconductor Manufacturing (TSM), which could support stronger system shipments, and the expected launch of its next-generation WSE-4 processor in late 2026 or early 2027, which may provide additional revenue and margin benefits."However, ultimately, Cerebras's success will be less about near-term upside and more about building meaningful share in the rapidly expanding AI accelerator market," the report said.The company is set to release its Q1 results on Tuesday.Several industry trends appear supportive, including continued growth in AI inference demand, potential production upside from TSMC that may enable additional customers, and ongoing memory supply constraints that may strengthen Cerebras's competitive position in the intermediate term, the report said.Wedbush has an outperform rating on Cerebras stock with a $270 price target.Cerebras shares fell 1.8% in Monday trading, and TSMC rose 1%.Price: $230.43, Change: $-4.28, Percent Change: -1.82%

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Apple Chip Production Deal Represents Big Opportunity For Intel, Wedbush Says
US Markets

Apple Chip Production Deal Represents Big Opportunity For Intel, Wedbush Says

Apple's (AAPL) chip production deal with Intel (INTC) represents a big opportunity for the semiconductor manufacturer, Wedbush Securities said in a note on Thursday.President Donald Trump announced on social media that Apple had agreed to work with Intel to design and build chips in the US.Neither of the two companies responded to' requests for comment.Apple was considering engaging Intel and Samsung for producing device chips in the US, diversifying beyond long-time partner Taiwan Semiconductor Manufacturing Co. (TSM), Bloomberg News reported in May.Intel's shares surged 9.2% in Thursday trade, and are up 258% year to date. Apple was up 0.8%, and has gained nearly 10% this year."After Apple transitioned away from Intel chips for its own in-house Apple Silicon, the company will now do a significant portion of deals with Intel in the coming years," Wedbush analysts including Dan Ives wrote.Apple's US manufacturing represents "a huge opportunity for Intel, with Apple now going into this (three to four) year (artificial intelligence)-driven device cycle," Ives said.The new partnership will reduce the iPhone maker's reliance on Asian factories, according to Wedbush.Apple Chief Executive Tim Cook told The Wall Street Journal that price increases "are unavoidable" amid surging memory costs, as reported by the Journal on Wednesday."We believe (Apple) is in a strong position to increase prices without sacrificing hardware performance and risking increasing customer churn given the company's increasing focus on the higher-end consumer," Ives said.Wedbush maintained an outperform rating on Apple's stock with a $400 price target.In April, Apple reported fiscal second-quarter results above Wall Street's estimates driven by iPhone revenue beat. Separately, Intel posted stronger-than-expected first-quarter results as it benefited from AI-driven demand for its products.Price: $296.89, Change: $+0.94, Percent Change: +0.32%

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