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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%

$AMD$ASML$AVGO$NVDA$QCOM$TSM
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

$AMD$AVGO$NVDA$QCOM$TSM
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%

$CBRS$TSM
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%

$AAPL$INTC$TSM
Asia Markets

Update: Signed US-Iran Peace Deal Lifts US Equity Futures Pre-Bell

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Thursday after the US and Iran digitally signed an agreement aimed at ending the war in the Middle East.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.8%, and Nasdaq futures were 1.6% higher.President Donald Trump and Iranian President Masoud Pezeshkian digitally signed a memorandum of understanding targeting a permanent peace deal to end the war between the US and Iran. Amid criticism that Iran came out with the better end of the deal, Trump said in a post on Truth Social that people thinking he was not tough enough on the Middle Eastern nation were "either jealous, bad people, or stupid."All three major US stock indexes ended lower on Wednesday after Federal Reserve officials signaled a potential rate hike by the end of 2026 as inflation remains elevated.Traders observed the latest round of earnings, with Accenture (ACN) posting higher fiscal Q3 earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.3% at $78.52 per barrel and US West Texas Intermediate crude 2.1% lower at $75.22 per barrel.The weekly jobless claims bulletin showed 226,000 new unemployment claims for the week ended June 13, compared with the upwardly adjusted 230,000 figure in the prior week and above the 225,000 expected in a survey compiled by Bloomberg. The Philadelphia Federal Reserve's monthly manufacturing index rose to 10.3 in June from negative 0.4 in May, compared with expectations for a smaller increase to a reading of 10.0.In other world markets, Japan's Nikkei closed 1.7% higher, Hong Kong's Hang Seng ended 1.6% lower, and China's Shanghai Composite finished 0.4% lower. Meanwhile, the UK's FTSE 100 was down 1.1%, and Germany's DAX index was 00% lower in Europe's early afternoon session.In equities, Intel (INTC) shares were up 9% after President Donald Trump said Apple (AAPL) has "agreed to work with Intel to design and build its Chips in America." Taiwan Semiconductor Manufacturing's (TSM) stock was up 1.6% after a Nikkei Asia report cited chief operating officer Chris Koopmans as saying that Marvell Technology (MRVL) plans to adopt the company's 1.4-nanometer process for future chips. Broadcom (AVGO) shares were up 3.2% after the company said increased the maximum amount it will spend on its debt buyback program to $3 billion from $2.5 billion due to the strong participation.On the losing side, Accenture shares dropped 16% after the company reported its fiscal Q3 financial results. Kroger (KR) stock was down 4.7% after the company posted higher fiscal Q1 adjusted earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$AAPL$ACN$AVGO$INTC$KR$MRVL$TSM
Wire

Amkor Technology, Taiwan Semiconductor Sign 10-Year Partnership on Advanced Semiconductor Packaging

Taiwan Semiconductor Manufacturing (TSM) and Amkor Technology (AMKR) signed a 10-year partnership agreement on advanced semiconductor packaging capabilities in Arizona, the companies said Tuesday.The deal sets a collaboration framework for Taiwan Semiconductor to procure advanced packaging and testing services from Amkor for a more resilient semiconductor supply chain, the companies said.No financial details were disclosed.Price: $439.74, Change: $-1.12, Percent Change: -0.25%

$AMKR$TSM
Sectors

Sector Update: Tech Stocks Fall Pre-Bell Wednesday

Technology stocks were falling pre-bell Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) down 1.3% and the State Street SPDR S&P Semiconductor ETF (XSD) declining by 2%.Super Micro Computer (SMCI) stock was down more than 12% after the company unveiled plans for up to $7 billion in equity and equity-linked financing to meet demand.ChipMOS Technologies (IMOS) shares were down more than 4% after the company reported revenue of 2.38 billion New Taiwan dollars ($75.2 million) for May, down 3.1% sequentially and up nearly 18% from a year earlier.Taiwan Semiconductor Manufacturing (TSM) reported that its net revenue for the month of May was about 416.98 billion New Taiwan dollars ($13.18 billion), up 1.5% from the previous month, and up 30.1% from a year earlier. Taiwan Semiconductor stock was down more than 2% premarket.

$IMOS$SMCI$TSM$XLK$XSD
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Wednesday Amid Renewed US-Iran Clashes

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 1%, and the actively traded Invesco QQQ Trust (QQQ) retreated by 1.6% in Wednesday's premarket activity, amid renewed clashes between Iran and the US.US stock futures were also lower, with S&P 500 Index futures down 1%, Dow Jones Industrial Average futures slipping 0.9%, and Nasdaq futures retreating 1.5% before the start of regular trading.Mortgage applications rose by 10.8% in the week ended June 5 after a 2.5% decline in Memorial Day week despite an increase in average 30-year mortgage rates, according to Mortgage Bankers Association data released Wednesday.US consumer prices rose 0.5% in May, matching economists' expectations but slowing from a 0.6% increase in April, while core CPI increased 0.2%, below forecasts for a 0.3% gain and down from a 0.4% rise in the prior month.The consumer price index report for May is scheduled for an 8:30 am ET release.The weekly EIA domestic petroleum inventories report will be released at 10:30 am ET.In premarket action, bitcoin was down by 1.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.7% lower, Ether ETF (EETH) retreated by 2.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) lost 0.01%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 2.3%, and the iShares US Technology ETF (IYW) was 2.2% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 2.2%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) fell 4.5%, while the iShares Semiconductor ETF (SOXX) declined by 3.4%.Taiwan Semiconductor Manufacturing (TSM) shares were down more than 3% in premarket activity even after the company reported higher net revenue for the month of May and the period from January to May.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 0.7% higher. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.7%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) retreated by 1.2%.Sea's (SE) shares were down more than 2% pre-bell. Bloomberg reported, citing unnamed people familiar with the matter, that the company's Shopee division is eliminating hundreds of developer positions, affecting about 8% of the platform's developer workforce.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.2%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, while the iShares US Healthcare ETF (IYH) gained 1.2%. The iShares Biotechnology ETF (IBB) was 0.8% lower.Sanofi (SNY) stock was down more than 2% premarket after the company said that it will discontinue a phase 3 trial of its experimental drug riliprubart in patients with a type of chronic inflammatory demyelinating polyneuropathy after an interim review found the study was unlikely to provide "sufficient efficacy."FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.6%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.5% higher.Blackstone (BX) shares were down more than 2% pre-bell after Bloomberg reported the company is divesting Interplex's information and communications technology division to BizLink for roughly $850 million, with the agreement including an additional $50 million earnout based on certain milestones.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.6%, while the Vanguard Industrials Index Fund (VIS) fell 1.6% and the iShares US Industrials ETF (IYJ) was inactive.Core & Main (CNM) stock was down more than 1% before the opening bell, after the company reported unchanged fiscal Q1 net sales.EnergyThe iShares US Energy ETF (IYE) rose 2.5%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.7%.APA (APA) stock was up more than 1% before market open after the company said it has agreed to acquire Savant Alaska for about $70 million in upfront consideration, plus contingent payments related to the development of APA's eastern North Slope portfolio.CommoditiesFront-month US West Texas Intermediate crude oil gained by 2.1% to $90.02 per barrel on the New York Mercantile Exchange. Natural gas was up 2.9% at $3.23 per 1 million British Thermal Units. The United States Oil Fund (USO) rose by 1.6%, while the United States Natural Gas Fund (UNG) was 2.6% higher.Gold futures for July retreated by 2.8% to $4,166.90 an ounce on the Comex. Silver futures declined by 2.3% to $63.72 an ounce. SPDR Gold Shares (GLD) was down by 2.8%, and the iShares Silver Trust (SLV) decreased by 2.4%.

Dow JonesNasdaq CompositeS&P 500$APA$BETH$BITO$BX$CNM$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QQQ$RTH$SE$SLV$SNY$SOXX$SPY$TSM$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

US-Iran Flare-Up Drags US Equity Futures Pre-Bell as Middle East Tensions Re-Escalate

US equity futures were edging lower pre-bell Wednesday as the US and Iran once again exchanged attacks after a US Army Apache helicopter was shot down, raising tensions in the Middle East.Dow Jones Industrial Average futures were 0.6% lower, S&P 500 futures were down 0.6%, and Nasdaq futures were 0.7% lower.US Central Command said in an X post that it launched "self-defense strikes" against Iran as a "proportional response to unjustified Iranian aggression," responding to the downing of a US Army helicopter. Iran, which did not claim responsibility for shooting down the chopper, responded with attacks on Bahrain, Kuwait, and Jordan.In a post on Truth Social, US President Donald Trump said that Iran has been "completely defeated." Trump added, "They've taken too long to negotiate a deal that would have been great for them, now they will have to pay the price!!!"Traders look forward to Oracle's (ORCL) fiscal Q4 financial results, scheduled to be released after the market closes.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.8% at $88.93 per barrel and US West Texas Intermediate crude 0.7% higher at $92.05 per barrel.The May consumer price index, released at 8:30 am ET, gained 0.5% as expected, compared with a 0.6% increase in the previous month, according to estimates compiled by Bloomberg.In other world markets, Japan's Nikkei closed 1.9% lower, Hong Kong's Hang Seng ended 0.6% lower, and China's Shanghai Composite finished 0.4% lower. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was 0.9% lower in Europe's early afternoon session.In equities, shares of Nvidia (NVDA), Microsoft (MSFT), and Taiwan Semiconductor Manufacturing (TSM) were all lower as part of a broader sell-off in the tech sector. Nvidia stock was down 1.3%, Microsoft shares fell 0.9%, and Taiwan Semiconductor stock was down 2.3%.On the winning side, CME Group (CME) shares were marginally higher after the company said it launched Nasdaq CME Crypto Index futures. Casey's General Stores (CASY) stock was up 2.1% after the company reported fiscal Q4 earnings and revenue that surpassed analysts' estimates.

Dow JonesNasdaq CompositeS&P 500$CASY$CME$MSFT$NVDA$ORCL$TSM
Asia Markets

US Equity Indexes Mixed Amid Big-Tech Gains as Iran, Israel Halt Strikes After Trump Calls for Ceasefire

US equity indexes were mixed as technology led sector charts, while President Donald Trump's diplomatic efforts to engineer a halt in strikes between Iran and Israel led to a retreat in crude oil prices from intraday highs.The Nasdaq Composite jumped 0.9% to 25,929.66, with the S&P 500 up 0.3% to 7,405.73, but the Dow Jones Industrial Average slipped 0.2% to 50,786.01 on Monday.All but three sectors fell at the close. Utilities, real estate, and materials led the decliners.Alphabet's (GOOG, GOOGL) Google and Nvidia (NVDA) have turned to Intel (INTC) as their backup manufacturer of advanced processors, as Taiwan Semiconductor Manufacturing (TSM) struggles to meet demand, The Information reported Monday, citing four people with direct knowledge of discussions. Intel jumped 11%, one of the top gainers in the S&P 500 and the Nasdaq.Cantor Fitzgerald adjusted its price target for Micron Technology (MU) to $1,500 from $700 while maintaining its overweight rating. Wells Fargo tuned its price objective for Micron to $1,220 from $550 and kept its overweight rating. Shares of Micron were up 9.9%, making it one of the biggest outperformers in the S&P 500 and the Nasdaq.Israel and Iran are "looking to do an immediate CEASEFIRE," CNN cited President Donald Trump as saying, after an overnight exchange of strikes between the two warring countries risked the fragile April truce brokered by the US."Final negotiations on 'Peace' are proceeding, subject to ignorance or stupidity getting in its way," Trump said on Truth Social. "The Blockade will remain in place, and in full force and effect, until a 'Final Deal' is reached. Things should move quickly."Israel has halted attacks on Iran, Israeli Prime Minister Benjamin Netanyahu said, stopping short of acknowledging a ceasefire, CNN reported. Iran has also suspended its operations against Israel, but warned it would resume if strikes in southern Lebanon continue, the news report added.A situation of "no deal, no war" between the US and Iran may not be able to last indefinitely, Thierry Wizman, a global foreign-exchange and rates strategist at Macquarie, said in a note."If a US-Iran deal is not reached - presumably via concessions made by both sides - then the prospect is that a new round of large-scale kinetic warfare will resume," Wizman said in the note. "According to most estimates, operational depletion [for inventories] could be reached in H2."West Texas Intermediate crude oil futures rose 0.8% to $91.25, and Brent crude futures climbed 1.2% to $94.16. Earlier in the session, crude oil futures were up more than 4% each amid reports of an overnight escalation between Iran and Israel.Most US Treasury yields rose, with the 10-year up 2.8 basis points to 4.56% while the two-year leaned slightly higher to 4.17%.In precious metals, gold futures fell 0.3% to $4,351.50, while silver futures declined 1.3% to $68.24.

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$INTC$MU$NVDA$TSM
Tech-Heavy Nasdaq Snaps 3-Day Losing Streak
US Markets

Tech-Heavy Nasdaq Snaps 3-Day Losing Streak

The Nasdaq Composite rose Monday following a three-day slump, buoyed by the technology sector's rebound.The tech-heavy Nasdaq Composite rose 0.9% to 25,929.7, while the S&P 500 added 0.3% to 7,405.5. The Dow Jones Industrial Average lost 0.2% to 50,786.01, closing lower for a second consecutive session. Most sectors were in the red, led by utilities, while tech paced the gainers with a 1.5% rise.Chipmaker Intel (INTC) climbed 11%, the top performer on the S&P 500, followed by Micron Technology (MU), which jumped 9.9%. Cisco Systems (CSCO) rose 2.1%, the best performer on the Dow. Nvidia gained 1.7%.The tech sector shed 5.8% on Friday."In our view, volatility in technology stocks is likely to continue, although the (artificial intelligence) investment boom appears robust," D.A. Davidson said in a report on Monday. "We continue to expect a broadening of gains supporting sector diversification in portfolios."Alphabet's (GOOG, GOOGL) Google and Nvidia (NVDA) have turned to Intel as a backup manufacturer for their most advanced processors as Taiwan Semiconductor Manufacturing (TSM) struggles to meet overwhelming demand, The Information reported, citing unnamed sources.Taiwan Semiconductor shares were up 2.8%.West Texas Intermediate crude oil was up 0.8% at $91.22 a barrel in Monday late-afternoon trade, while Brent rose 1.2% to $94.22, but both benchmarks were off session highs.Iran and Israel suspended strikes against each other. However, Tehran vowed to resume attacks if Israel continues to target Iran-backed Hezbollah in Lebanon, according to a CNBC report.Israel and Iran were looking for an "immediate" ceasefire, US President Donald Trump said Monday."Overall, the situation remains fragile, and for the oil market, the status quo holds: global inventories continue to draw, with analysts increasingly convinced that inventories will reach dangerously low levels by the end of June (if not sooner)," Tudor Pickering Holt Analyst Matt Portillo said in a note.US Treasury yields were higher, with the 10-year rate last up four basis points at 4.56%, and the two-year rate rising 1.9 basis points to 4.17%.In economic news, US consumers' short-term inflation expectations decreased in May, while the labor market outlook "deteriorated somewhat," a survey by the Federal Reserve Bank of New York showed Monday.Gold was down 0.2% at $4,358.50 per troy ounce, while silver dropped 0.9% to $68.50 per ounce.

Dow JonesNasdaq CompositeS&P 500$CSCO$GOOG$GOOGL$INTC$MU$NVDA$TSM
International

US Equity Markets Mixed After Trump Manages to Keep Ceasefire Intact

US equity indexes were mixed on Monday after technology stocks rose and President Donald Trump managed to keep the Iran ceasefire intact, while negotiations to reach a peace deal with Tehran remain halted.* Consumer expectations for one-year US inflation growth was 3.5% in May, down from 3.6% in April, according to a survey released by the New York Federal Reserve Bank on Monday.* Israel and Iran must immediately stop "shooting," Trump said in a Truth Social post. Israel accepted the US request to halt strikes on Iran but will continue attacks on southern Lebanon, sources told CNN. Iran has suspended its operations on Israel, but warned it would resume if strikes in southern Lebanon continue, the news report said Monday.* July West Texas Intermediate crude oil rose $0.65 to settle at $91.19 per barrel, while August Brent crude, the global benchmark, was last seen up $1.05 at $94.15.* Alphabet's (GOOG, GOOGL) Google and Nvidia (NVDA) turned to Intel (INTC) as a backup manufacturer for their most advanced processors as Taiwan Semiconductor Manufacturing (TSM) struggles to meet overwhelming demand, The Information reported Monday. Intel shares were up roughly 11%, the top gainer on the S&P 500.* Ciena (CIEN) shares were down 5%, the steepest decline on the S&P 500, after the company said it planned a private offering of $2 billion of convertible senior notes due 2031.

Dow JonesNasdaq CompositeS&P 500$CIEN$GOOG$GOOGL$INTC$NVDA$TSM
Japan

US Equity Indexes Mixed as Big-Tech Marches Higher, Trump Engineers Halt to Iran-Israel's Exchange of Strikes

US equity indexes traded mixed as technology topped sector charts, while President Donald Trump's efforts to halt strikes between Iran and Israel helped crude oil retreat from intraday highs.The Nasdaq Composite jumped 0.9% to 25,937.1, with the S&P 500 up 0.4% to 7,409.9, but the Dow Jones Industrial Average slipped 0.1% to 50,804.5 ahead of Monday's close.Alphabet's (GOOG, GOOGL) Google and Nvidia (NVDA) have turned to Intel (INTC) as their backup manufacturer of the most advanced processors, as Taiwan Semiconductor Manufacturing (TSM) struggles to meet demand, The Information reported Monday, citing four people with direct knowledge of discussions. Intel jumped 10%, one of the top gainers in the S&P 500 and the Nasdaq.Cantor Fitzgerald adjusted its price target for Micron Technology (MU) to $1,500 from $700 while maintaining its overweight rating. Wells Fargo tuned its price objective for Micron to $1,220 from $550 and kept its overweight rating. Shares of Micron were up 8.9%, making it one of the biggest outperformers in the S&P 500 and the Nasdaq.Israel and Iran are "looking to do an immediate CEASEFIRE," CNN cited President Donald Trump as saying, after an overnight exchange of strikes between the two warring countries risked the fragile April truce brokered by the US."Final negotiations on 'Peace' are proceeding, subject to ignorance or stupidity getting in its way," Trump said on Truth Social. "The Blockade will remain in place, and in full force and effect, until a 'Final Deal' is reached. Things should move quickly."Israel has halted attacks on Iran, Israeli Prime Minister Benjamin Netanyahu said, stopping short of acknowledging a ceasefire, CNN reported. Iran has also suspended its operations against Israel, but warned it would resume if strikes in southern Lebanon continue, the news report added.West Texas Intermediate crude oil futures rose 1% to $91.47, and Brent crude futures climbed 1.4% to $94.41. Earlier in the session, crude oil futures were up more than 4% each amid reports of an overnight escalation between Iran and Israel.

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$INTC$MU$NVDA$TSM
Equities Mostly Rise Intraday as Tech Jumps, Markets Monitor Middle East Developments
US Markets

Equities Mostly Rise Intraday as Tech Jumps, Markets Monitor Middle East Developments

US benchmark equity indexes were mostly higher intraday as the technology sector jumped, while Iran reportedly suspended military operation against Israel.The tech-heavy Nasdaq Composite was up 1.1% at 25,987.8 after midday Monday, while the S&P 500 rose 0.5% to 7,419.6. The Dow Jones Industrial Average lost 0.1% to 50,812.9. Friday's sell-off saw the Nasdaq post its biggest one-day decline since April 2025, while the Dow pulled back from a record high.Among sectors, tech paced the gainers intraday Monday, advancing by 2%, while utilities saw the biggest drop.Shares of certain chipmakers were notable gainers, with Intel (INTC) up nearly 11%, the top performer on the S&P 500. Micron Technology (MU) followed Intel on the index, rising 9.4%.Alphabet's (GOOG, GOOGL) Google and Nvidia (NVDA) have turned to Intel as a backup manufacturer for their most advanced processors as Taiwan Semiconductor Manufacturing (TSM) struggles to meet overwhelming demand, The Information reported, citing unnamed sources.Taiwan Semiconductor shares were up 3%.Cisco Systems (CSCO) rose 3%, the best performer on the Dow, followed by Nvidia's 1.8% gain.West Texas Intermediate crude oil was up 0.5% at $90.95 a barrel intraday, while Brent rose 1.2% to $94.23, but both benchmarks were off session highs.Iran has suspended strikes against Israel, the former's Ministry of Foreign Affairs told CNBC Monday. The two countries traded strikes on Sunday night, according to reports."Iran's restraint is a positive for diplomacy," Tudor Pickering Holt said in a note.However, Iran vowed to resume attacks if Israel continues to target Iran-backed Hezbollah in Lebanon, according to the CNBC report.Israel and Iran were looking for "an immediate ceasefire," US President Donald Trump said Monday."Final negotiations on 'peace' are proceeding, subject to ignorance or stupidity getting in its way," Trump said in a social media post. "The blockade (against Iran) will remain in place, and in full force and effect, until a 'final deal' is reached. Things should move quickly.""Despite repeated optimism from the US administration, a lasting peace agreement appears increasingly elusive," Saxo Bank said in a report. "The near-closure of the Strait of Hormuz continues to tighten global energy markets, with several oil majors warning that the window before physical shortages begin to emerge may be measured in weeks rather than months."US Treasury yields were mixed intraday, with the 10-year rate up 1.2 basis points at 4.55%, and the two-year rate falling one basis point to 4.16%.Ciena (CIEN) shares were down 5%, the steepest decline on the S&P 500, as the company said it planned a private offering of $2 billion of convertible senior notes due 2031.Oracle (ORCL) and Adobe (ADBE) are scheduled to report their latest financial results later this week, along with others.Gold was down 0.2% at $4,358.50 per troy ounce, while silver dropped 0.9% to $68.50 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADBE$CIEN$CSCO$GOOG$GOOGL$INTC$MU$NVDA$ORCL$TSM
Wire

Top Midday Gainers

Tango Therapeutics' (TNGX) initial results from a phase 1/2 trial of vopimetostat in combination with Revolution Medicines' inhibitor daraxonrasib showed a six-month progression-free survival rate of 90% in patients with pancreatic cancer, the company said Monday.Shares soared 51% as intraday trading volume catapulted to over 15.4 million from a daily average of about 3.37 million.Inno Holdings (INHD) signed a $3 million development contract with a Hong Kong-based artificial intelligence service provider to build a sales agent system for used mobile phones, it said Monday.Shares catapulted over 1,300% amid a surge in intraday trading volume to over 261 million from a daily average of roughly 1.09 million.Alphabet's (GOOG, GOOGL) Google and Nvidia (NVDA) have turned to Intel (INTC) as a backup manufacturer for their most advanced processors as Taiwan Semiconductor Manufacturing (TSM) struggles to meet overwhelming demand, The Information reported Monday, citing four people with direct knowledge of the discussions.Shares of Intel climbed 12%. Intraday trading volume stood at over 97.3 million, compared with a daily average of about 122.5 million.Price: $31.00, Change: $+10.78, Percent Change: +53.31%

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Asia Markets

US Equity Indexes Mixed as Trump's Call to Halt Iran-Israel Strikes Yields Results, Ceasefire Remains at Risk

US equity indexes traded mixed, as technology topped sector charts after President Donald Trump's efforts to keep the Iran ceasefire intact produced results, while negotiations to reach a peace deal with Tehran remain stalled.The Nasdaq Composite jumped 1.1% to 25,991.2, with the S&P 500 up 0.5% to 7,417.3, but the Dow Jones Industrial Average slipped 0.1% to 50,817.6 in Monday's midday trading. Utilities, communication services, and materials led the decliners.Israel and Iran must immediately stop "shooting," Trump said in a Truth Social post.Israel accepted the US request to halt strikes on Iran but will continue attacks on southern Lebanon, sources told CNN. Iran has suspended its operations on Israel, but warned it would resume if strikes in southern Lebanon continue, the news report said Monday.The Israel Defense Forces said that the Israeli Air Force hit military targets in western and central Iran, according to a post on X. Meanwhile, Iran's military reportedly said it targeted two Israeli air bases in retaliation."If a US-Iran deal is not reached - presumably via concessions made by both sides - then the prospect that a new round of large-scale kinetic warfare will resume," Thierry Wizmna, a global foreign-exchange and rates strategist at Macquarie, said in a note. "According to most estimates, operational depletion [for inventories] could be reached in H2 2026."West Texas Intermediate crude oil futures rose 0.9% to $91.36, and Brent crude futures climbed 1.6% to $94.54. Earlier in the session, crude oil futures were up more than 4% each amid reports of an overnight escalation between Iran and Israel.Most US Treasury yields rose, with the 10-year up two basis points to 4.56% while the two-year was unchanged at 4.16%.In precious metals, gold futures were steady at $4,367.2, while silver futures slipped 0.4% to $68.81.In company news, Alphabet's (GOOG, GOOGL) Google and Nvidia (NVDA) have turned to Intel (INTC) as a backup manufacturer for their most advanced processors as Taiwan Semiconductor Manufacturing (TSM) struggles to meet overwhelming demand, The Information reported Monday, citing four people with direct knowledge of the discussions. Shares of Intel jumped 13%, making it one of the top gainers in the S&P 500.Cantor Fitzgerald adjusted its price target on Micron Technology's (MU) shares to $1,500 from $700 while maintaining its overweight rating. Wells Fargo adjusted its price objective for Micron to $1,220 from $550, while keeping its overweight rating on the stock. Shares of Micron were up 13%, making it one of the biggest outperformers in the S&P 500 and the Nasdaq.In economic news, consumer expectations for one-year US inflation growth was 3.5% in May, down from 3.6% in April, according to a survey released by the New York Federal Reserve Bank on Monday. The median inflation growth expectations remained unchanged at 3.1% three years ahead and 3.0% five years forward.

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