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Asia Markets

Update: US Equity Indexes Drop as Chipmakers Push Technology Lower, Iran Warns on Red Sea Chokepoint

(Updates with index/price moves, macroeconomic data, and geopolitical news from the first paragraph.)US equity indexes slumped as a sell-off in chipmakers hit technology, and Iran warned its allies would close the Red Sea crude oil chokepoint if President Donald Trump orders an attack on Tehran's civilian infrastructure.The Nasdaq declined 1.5% to 25,881.95, the S&P 500 fell 0.5% to 7,533.77, and the Dow Jones Industrial Average declined 0.2% to 52,552.97 on Thursday. Communication services and technology led decliners, while consumer staples, health care, and real estate topped the gainers.Shares of Taiwan Semiconductor Manufacturing (TSM) slid 2.3% 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, 13 out of the bottom 20 names were from the technology sector, according to data compiled by Finviz. Almost half of the decliners were semiconductor firms, the data showed. The worst performer was SanDisk (SNDK), down about 12.6%.In geopolitical news, the US military launched a sixth consecutive night of strikes on Iran, with the country's media reporting explosions on Qeshm Island, Bandar Abbas, and Chabahar, according to Al Jazeera, a Middle Eastern broadcaster.The Iranian military has warned "all infrastructure in the region will be crushed under steel blows" if the US carries out its threat to attack Iran's civilian sites, the Al Jazeera report said. 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.Total volumes of petroleum transiting Bab el-Mandeb amounted to 7.4 million barrels per day in June, or about 7% of global oil output, up from 4.2 million bpd a year ago, MarineLink reported, citing Kpler data.The front-month US West Texas Intermediate fell 0.7% to $79.08 a barrel, hovering around its highest in about a month amid a rally that began after the US renewed strikes on Iran a week ago. North Sea Brent futures retreated 0.7% to $84.34 a barrel, close to its month-high.Iraqi crude loadings more than doubled to average roughly 1.2 million barrels per day in the first half of July, Reuters reported, citing Kpler data and a source with direct knowledge of the flows, as exports accelerated following months of restricted shipments.Most US Treasury yields rose, with the 10-year up 1.2 basis points to 4.56% and the two-year climbing 1.7 basis points to 4.15%.In precious metal markets, gold futures retreated 1.8% to $3,980.5, and silver futures dropped 2.8% to $55.84.In economic news, US retail sales rose by 0.2% in June, as expected in a Bloomberg-compiled poll and following the previous month's revised 1.0% increase.US initial jobless claims fell to a level of 208,000 in the week ended July 11 from an upwardly revised 216,000 level in the previous week, compared with expectations for a level of 217,000 in a survey of analysts compiled by Bloomberg.

Dow JonesNasdaq CompositeS&P 500$SNDK$TSM
Update: Wall Street Snaps Two-Day Advance as Chip-Related Stocks Slump
US Markets

Update: Wall Street Snaps Two-Day Advance as Chip-Related Stocks Slump

(Updates with closing levels throughout the story.)Wall Street's stock indexes fell Thursday after a two-day advance, dragged down by a sell-off in chip-related stocks and certain mega-cap technology stocks.The tech-heavy Nasdaq Composite shed 1.5% to close at 25,881.95, while the S&P 500 dropped 0.5% to 7,533.77. The Dow Jones Industrial Average lost 0.2% to settle at 52,552.97.Most sectors were in the green, led by consumer staples, while communication services saw the biggest drop, followed by technology.Semiconductor company Sandisk (SNDK) was the worst performer on the S&P 500, down nearly 12%. Nvidia (NVDA) fell 2.4%, among the notable laggards on the Dow.Taiwan Semiconductor Manufacturing's (TSM) US-listed shares fell 2.3% after the semiconductor manufacturer reported its second-quarter results. The company earmarked an additional $100 billion to increase its chipmaking capacity in the US, Bloomberg News reported, citing a US official.Alphabet's (GOOGL) Class A shares slumped 4.4%, the second-worst performer on the Dow. Amazon.com (AMZN) also fell.In other corporate news, Abbott Laboratories (ABT) shares jumped nearly 11%, the biggest gainer on the S&P 500. The healthcare company lifted its full-year earnings outlook after reporting second-quarter results above market estimates.UnitedHealth (UNH) raised its full-year earnings guidance, as the health insurance giant recorded an unexpected year-over-year increase in its second-quarter revenue. The company's shares rose 1.2%.West Texas Intermediate crude oil was down 0.7% at $79.05 a barrel in Thursday late-afternoon trade, while Brent dropped 0.6% to $84.31."Oil prices slipped as traders assessed tensions between the (US) and Iran and the risks to oil supplies moving through the Strait of Hormuz," D.A. Davidson said in a note.Iran vowed to destroy key Middle East infrastructure if US President Donald Trump carries out his threat to hit Iranian infrastructure in the absence of a deal between the two countries, an Iranian military spokesperson reportedly said. Trump issued his warning in a recent interview with Fox News, CNBC reported.US Treasury yields were higher intraday, with the two-year rate up 2.3 basis points at 4.15% and the 10-year rate rising 1.4 basis points to 4.56%.Dallas Fed President Lorie Logan on Thursday pushed for "modestly higher" interest rates as she, along with her Kansas City counterpart Jeffrey Schmid, downplayed soft inflation data this week and flagged persistent price pressures.In economic news, US retail sales edged higher in June despite lower gasoline prices that drove a sharp decline in gas station receipts, official data showed.Pending home sales decreased more than projected in June amid high mortgage rates and prices, data from the National Association of Realtors showed.Homebuilder confidence deteriorated in July amid growing material prices, high land costs and elevated mortgage rates, the National Association of Home Builders and Wells Fargo said.Gold was down 1.7% at $3,983.20 per troy ounce, while silver lost 2.8% to $55.83 per ounce.

Dow JonesNasdaq CompositeS&P 500$ABT$AMZN$GOOGL$NVDA$SNDK$TSM$UNH
Japan

Update: US Equity Indexes Decline Amid Sell-Off in Chipmakers, Iran's Warning on Red Sea Route

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes dropped as a sell-off in chipmakers pushed technology sharply lower, and Iran threatened to close the Red Sea crude oil route if President Donald Trump orders an attack on Tehran's power infrastructure.The Nasdaq declined 1.8% to 25,786.2, the S&P 500 fell 0.8% to 7,508.7, and the Dow Jones Industrial Average declined 0.5% to 52,386.8.Technology slumped 2.3%, the worst of a trio of decliners in the final leg of trading.Shares of Taiwan Semiconductor Manufacturing (TSM) slid 3.1% 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 11%.In company news, UnitedHealth's (UNH) shares jumped 3.1%, 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, the US military launched a sixth consecutive night of strikes on Iran, with the country's media reporting explosions on Qeshm Island, Bandar Abbas, and Chabahar, according to Al Jazeera, a Middle Eastern broadcaster.The Iranian military has warned "all infrastructure in the region will be crushed under steel blows" if the US carries out its threat to attack Iran's civilian sites, the Al Jazeera report said. 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.Total volumes of petroleum transiting Bab el-Mandeb amounted to 7.4 million barrels per day in June, or about 7% of global oil output, up from 4.2 million bpd a year ago, MarineLink reported, citing Kpler data.The front-month US West Texas Intermediate fell 0.7% to $79.08 a barrel, hovering around its highest in about a month amid a rally that began after the US renewed strikes on Iran a week ago. North Sea Brent futures retreated 0.7% to $84.34 a barrel, close to its month-high.Iraqi crude loadings more than doubled to average roughly 1.2 million barrels per day in the first half of July, Reuters reported, citing Kpler data and a source with direct knowledge of the flows, as exports accelerated following months of restricted shipments.

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

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.6% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 6.3%.The Philadelphia Semiconductor index shed 4.7%.In corporate news, Alphabet's (GOOGL) Google is months behind schedule on delivering its most powerful AI model -- Gemini 3.5 Pro -- due to its efforts to improve its capabilities, especially in coding, Bloomberg reported. Alphabet shares were down 4.4%.Taiwan Semiconductor Manufacturing (TSM) shares fell 3.2% despite the company's Q2 earnings and revenue surpassing analysts' consensus estimates. The company earmarked an additional $100 billion to increase its chipmaking capacity in the US, Bloomberg reported, citing a US official.Apple (AAPL) is readying a new iPad mini model with significant updates, including an OLED screen for the first time, Bloomberg reported. Apple shares rose 1.6%.Meta Platforms' (META) independent Oversight Board said Thursday that AI models from leading developers, including Meta, OpenAI, Anthropic, Alphabet's Google and DeepSeek, are more likely to refuse politically critical requests involving governments with restrictive free speech laws. Meta shares were down 2.7%.

$AAPL$GOOGL$META$TSM
Chip Stocks Weigh on Equities Intraday; Netflix Earnings on Deck
US Markets

Chip Stocks Weigh on Equities Intraday; Netflix Earnings on Deck

US benchmark equity indexes were lower intraday amid a sell-off in certain chip-related stocks as investors parsed latest corporate earnings and awaited Netflix's (NFLX) results.The technology-heavy Nasdaq Composite was down 1.1% at 25,979.8 after midday Thursday, while the S&P 500 fell 0.5% to 7,537.8. The Dow Jones Industrial Average dropped 0.2% to 52,548. Among sectors, tech saw the steepest decline, while consumer staples paced the gainers.Sandisk (SNDK) was down 12%, the biggest drop on the S&P 500. Nvidia (NVDA) fell 2.5%, among the worst performers on the Dow.Taiwan Semiconductor Manufacturing's (TSM) US-listed shares were down 3.2% after the semiconductor manufacturer reported its second-quarter results. The company earmarked an additional $100 billion to increase its chipmaking capacity in the US, Bloomberg News reported, citing a US official.In other corporate news, Abbott Laboratories (ABT) shares jumped 11%, the biggest gainer on the S&P 500. The healthcare company lifted its full-year earnings outlook after reporting second-quarter results above market estimates.UnitedHealth (UNH) raised its full-year earnings guidance, as the health insurance giant recorded an unexpected year-over-year increase in its second-quarter revenue. The company's shares rose 3.3%, among the best performers on the Dow.Streaming giant Netflix is scheduled to report results after the closing bell Thursday.West Texas Intermediate crude oil was down 0.8% at $78.96 a barrel intraday, while Brent dropped 0.7% to $84.37."Oil prices slipped as traders assessed tensions between the (US) and Iran and the risks to oil supplies moving through the Strait of Hormuz," D.A. Davidson said in a note.Iran vowed to destroy key Middle East infrastructure if US President Donald Trump carries out his threat to hit Iranian infrastructure in the absence of a deal between the two countries, an Iranian military spokesperson reportedly said. Trump issued his warning in a recent interview with Fox News, CNBC reported.US Treasury yields were higher intraday, with the two-year rate up 3.8 basis points at 4.17% and the 10-year rate rising 2.8 basis points to 4.57%.In economic news, US retail sales edged higher in June despite lower gasoline prices that drove a sharp decline in gas station receipts, official data showed.Pending home sales decreased more than projected in June amid high mortgage rates and prices, data from the National Association of Realtors showed.Homebuilder confidence deteriorated in July amid growing material prices, high land costs and elevated mortgage rates, the National Association of Home Builders and Wells Fargo said.Gold was down 1.5% at $3,992 per troy ounce, while silver lost 2.1% to $56.22 per ounce.

Dow JonesNasdaq CompositeS&P 500$ABT$NFLX$NVDA$SNDK$TSM$UNH
Asia Markets

Update: Technology Slide Pushes Nasdaq, S&P 500 Lower

(Updates with index/price moves, macroeconomic data, and 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 0.9% to 26,021.1, and the S&P 500 fell 0.3% to 7,548.3 after midday Thursday. The Dow Jones Industrial Average was up by less than 0.1% to 52,691.5.Consumer staples, healthcare, and real estate topped the gainers, while technology slumped, down 1.9% intraday.Shares of Taiwan Semiconductor Manufacturing (TSM) slid 3.1% 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 11%.In company news, UnitedHealth's shares jumped 3.1%, 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, the Iranian military warns "all infrastructure in the region will be crushed under steel blows" if the US carries out its threat to attack Iran's civilian sites, Al Jazeera, a Middle Eastern broadcaster, reported. 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 fell 0.3% to $79.35 a barrel, and global benchmark North Sea Brent slipped 0.1% to $84.83 a barrel.Most US Treasury yields rose, with the 10-year up 2.8 basis points to 4.57% and the two-year climbing four basis points to 4.16%.In precious metal markets, gold futures retreated 1.4% to $3,995.1, and silver futures dropped 2% to $56.32.In economic news, US retail sales rose by 0.2% in June, as expected in a Bloomberg-compiled poll and following the previous month's revised 1.0% increase. Excluding a 1.9% increase in motor vehicle sales, retail sales were down 0.2% compared with an expected 0.1% decrease. That followed a 1.0% increase in May. Removing both motor vehicles and a 5.3% decline in gasoline station sales, retail sales were up 0.4% in June after a 0.8% increase in May.US initial jobless claims fell to a level of 208,000 in the week ended July 11 from an upwardly revised 216,000 level in the previous week, compared with expectations for a level of 217,000 in a survey of analysts compiled by Bloomberg. The four-week moving average fell by 4,750 to 214,250.Pending home sales fell by 5.4% in June, well below the 0.5% decrease expected in a survey compiled by Bloomberg as of 7:30 am ET and following a 3.5% increase in May, according to the National Association of Realtors. The monthly sales index was down 0.3% from June 2025."The highest mortgage rates in nearly a year and the record-high national median home price together are contributing to a tepid housing market that is especially difficult for first-time homebuyers," NAR Chief Economist Lawrence Yun said. "However, job gains can help support housing demand."

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

Sector Update: Tech Stocks Fall Thursday Afternoon

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

$AAPL$GOOGL$STM$STX$TSM$WDC
Sectors

Sector Update: Tech

Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.3% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 5.7%.The Philadelphia Semiconductor index shed 4.3%.In corporate news, Taiwan Semiconductor Manufacturing (TSM) shares fell 3.3% despite the company's Q2 earnings and revenue surpassing analysts' consensus estimates.

$TSM
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

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