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Update: Equities Mixed Amid Middle East Uncertainty; Wall Street Extends Weekly Losing Streak
US Markets

Update: Equities Mixed Amid Middle East Uncertainty; Wall Street Extends Weekly Losing Streak

(Updates with market moves at the end of the day and weekly index changes.)US stocks closed mixed Friday at the end of another bruising week, while oil prices retreated amid uncertainty around the Middle East situation.The Dow Jones Industrial Average rose 0.5% to 51,947.25, while the Nasdaq Composite fell 0.6% to 24,975.82. The S&P 500 edged up 0.1% to 7,411.98. Barring technology, all sectors advanced, led by real estate.This week, the Nasdaq fell 2.1% and the S&P 500 shed 0.6%, logging their second consecutive weekly losses. The Dow lost 0.4% to mark its third straight weekly decline.West Texas Intermediate crude was down 2.4% at $90.01 a barrel in Friday late-afternoon trade, while Brent fell 3% to $97.67. Both benchmarks were still on track for sharp gains for the week and this month.Pakistan has held exploratory discussions with Iran's Interior Minister Eskandar Momeni as it seeks to renew talks between Washington and Tehran, Reuters reported Friday, citing Pakistani sources. Islamabad has discussed the Middle East situation with China, according to the report.Bahrain, Jordan and Kuwait fended off Iranian attacks on Friday, CNN reported. US President Donald Trump told Axios on Thursday that he was "considering a massive attack" against Iran.US Treasury yields were mixed, with the two-year rate little changed at 4.35% and the 10-year rate down 1.7 basis points at 4.68%.The US on Thursday announced new tariffs on 60 economies over alleged forced labor failures, effectively replacing President Donald Trump's temporary 10% global tariffs, CNBC reported."The snap-back in oil prices, as well as another turn of the screw in tariffs, complicates the job of central bankers everywhere, and lands with a thud ahead of the (Federal Open Market Committee) meeting," BMO said in a report Friday.The probability that the US Federal Reserve will leave its benchmark lending rate unchanged next week moved to 62% on Friday from 87% a week ago, according to the CME FedWatch tool. The odds of a quarter-percentage-point increase shot up to 38% from 13%.In economic news, US private-sector output growth reached an eight-month high in July amid services boost, though price pressures intensified due to disruptions caused by the Middle East conflict, S&P Global's (SPGI) flash purchasing managers' index showed Friday.New-home sales in the US increased last month for the first time since March as house prices continued to fall, though inventory remained elevated at more than a nine-month supply, official data showed.In corporate news, Verizon Communications (VZ) raised its full-year earnings outlook amid phone subscriber gains in the second quarter. The company's shares jumped 5.8%.American Express (AXP) was the worst performer on the Dow, down 4.3%. The payments company's second-quarter earnings topped Wall Street's estimates, but revenue missed expectations.Gold was up 0.1% at $4,054.60 per troy ounce, while silver gained 0.6% to $58.40 per ounce.

Dow JonesNasdaq CompositeS&P 500$AXP$SPGI$VZ
Sectors

Sector Update: Consumer Stocks Rise Late Afternoon

Consumer stocks advanced late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.4%.In corporate news, MarineMax (HZO) shares jumped past 8% after Reuters reported that Blackstone (BX) is among the final bidders to buy the company. Donerail and Centerbridge are also finalists, the report said.Rivian Automotive (RIVN) filed a lawsuit in the US Court of International Trade seeking refunds of tariffs it paid under the International Emergency Economic Powers Act after the US Supreme Court ruled the levies were unlawful, according to a Thursday court filing. Rivian shares were down 3.9%.Lamb Weston (LW) provided upbeat full-year earnings guidance after delivering a fiscal Q4 beat, while the company said disruption from the Middle East conflict weighed on its business in Europe, the Middle East and Africa. Its shares were down 0.5%.Verizon Communications (VZ) raised its full-year earnings outlook on Friday amid phone subscriber gains in Q2, while Charter Communications (CHTR) reported a decline in broadband customers due to competitive pressures. Verizon shares gained 5.2%, and Charter fell 2.9%.Starbucks (SBUX) is expected to report continued sales momentum in fiscal Q3 as its turnaround plans and new sales initiatives supported a recovery in the US business, UBS Securities said in a note. Starbucks shares added 0.6%.

$CHTR$HZO$LW$RIVN$SBUX$VZ
Update: Equity Markets Mostly Rise Intraday; Oil Retreats
US Markets

Update: Equity Markets Mostly Rise Intraday; Oil Retreats

(Updates with latest market prices and developments.)US benchmark equity indexes were mostly higher intraday as oil prices pulled back, with traders apparently shaking off worries over heightened tensions in the Middle East and President Donald Trump's new phase of global tariffs.The Dow Jones Industrial Average was up 0.5% at 51,989 after midday Friday, while the S&P 500 rose 0.4% to 7,437.9. The Nasdaq Composite edged down 0.1% to 25,109.9. Barring technology, all sectors were in the green, led by real estate.West Texas Intermediate crude was down 4% at $88.51 a barrel, while Brent fell 4.7% to $96. Both benchmarks advanced earlier in the day and were still on track for sharp gains for the week.Pakistan has held exploratory discussions with Iran's Interior Minister Eskandar Momeni as it seeks a path towards a resumption of stalled talks between Washington and Tehran, Reuters reported, citing Pakistani sources. Islamabad recently also discussed the Middle East situation with China, according to the report.Bahrain, Jordan and Kuwait were fending off Iranian attacks again Friday, while Iran's military claimed it launched attack drones targeting US assets in Bahrain's Sheikh Isa Air Base and Jordan's Al-Azraq Air Base, CNN reported, citing local press.US Treasury yields were lower intraday, with the two-year rate down 3.4 basis points at 4.33% and the 10-year rate falling 2.8 basis points to 4.68%.In a fact sheet published Thursday, the Office of the US Trade Representative announced new tariffs of 10% or 12.5% on 60 economies that it said have failed to prohibit or effectively enforce bans on imports made with forced labor, including China, India, the UK and the European Union.The duties took effect at 12:01 am ET Friday, replacing Trump's temporary 10% global tariffs, which expired at the same time, CNBC reported.Earlier this week, Trump signed three proclamations to impose 50% tariffs on the imports of motor vehicles, alcohol and dairy products from Canada."The snap-back in oil prices, as well as another turn of the screw in tariffs, complicates the job of central bankers everywhere, and lands with a thud ahead of the (Federal Open Market Committee) meeting," BMO said in a report Friday.The probability that the US Federal Reserve will leave its benchmark lending rate unchanged next week stood at 64% Friday, down from 87% a week ago, according to the CME FedWatch tool. The odds of a quarter-percentage-point increase moved up to 36% from 13%.In economic news, US private-sector output growth reached an eight-month high in July amid services boost, though price pressures intensified due to disruptions caused by the Middle East conflict, S&P Global's (SPGI) flash purchasing managers' index showed Friday.New-home sales in the US increased last month for the first time since March as house prices continued to fall, though inventory remained elevated at more than a nine-month supply, official data showed.In corporate news, Verizon Communications (VZ) raised its full-year earnings outlook amid phone subscriber gains in the second quarter. The company's shares were up 4.1% intraday Friday.American Express (AXP) was the worst performer on the Dow, down 5.1%. The payments company's second-quarter earnings topped Wall Street's estimates, but revenue missed expectations.Gold was up 0.7% at $4,068.20 per troy ounce, while silver gained 1.3% to $58.83 per ounce.

Dow JonesNasdaq CompositeS&P 500$AXP$SPGI$VZ
Sectors

Sector Update: Consumer Stocks Higher in Afternoon Trading

Consumer stocks advanced Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.6%.In corporate news, MarineMax (HZO) shares jumped nearly 8% after Reuters reported that Blackstone (BX) is among the final bidders to buy the company. Donerail and Centerbridge are also finalists, the report said.Lamb Weston (LW) provided upbeat full-year earnings guidance after delivering a fiscal Q4 beat, while the company said disruption from the Middle East conflict weighed on its business in Europe, the Middle East and Africa. Its shares were up 0.7%.Verizon Communications (VZ) raised its full-year earnings outlook on Friday amid phone subscriber gains in Q2, while Charter Communications (CHTR) reported a decline in broadband customers due to competitive pressures. Verizon shares gained 3.7%, and Charter fell 2.2%.

$CHTR$HZO$LW$VZ
Wire

Top Midday Stories: US Imposes New Set of Tariffs on 60 Countries; Intel Posts Strongest Revenue Growth in 15 Years

All three major US stock indexes were up in late-morning trading Friday as the US imposed a new set of tariffs on 60 trade partners.In a Thursday statement, the Office of the US Trade Representative announced new tariffs on 60 countries over alleged "failure to impose and effectively enforce a prohibition on the importation of goods produced with forced labor." The duties took effect at 12:01 a.m. ET Friday, replacing President Donald Trump's 10% global tariffs, which expired on the same day, MS Now reported. Countries that have committed to prohibit forced labor were hit with a 10% tariff, while those that have not committed received a rate of 12.5%.In company news, Intel (INTC) posted fiscal Q2 adjusted earnings late Thursday of $0.42 per share, swinging from a loss of $0.10 a year earlier, and surpassing the FactSet consensus analyst estimate of $0.22. Fiscal Q2 revenue was $16.13 billion, up from $12.86 billion a year ago and above the FactSet consensus of $14.44 billion. For fiscal Q3, the company expects an adjusted EPS of $0.38 on revenue of $15.8 billion to $16.8 billion. Analysts expect $0.27 and $15.08 billion, respectively. "Our (second-quarter) results represent our strongest revenue growth in more than fifteen years, enabled by greater speed, accountability, and customer focus," Chief Executive Lip-Bu Tan said. Sales for the data center and AI segment surged 59% to $6.26 billion in the second quarter, while client computing and physical AI group increased 13% to $8.88 billion. Revenue for the foundry business rose 31% to $5.77 billion. "AI-driven compute continues to strengthen, and to support expected growth this year and next across products and foundry, we are meaningfully increasing our investments in equipment, clean room space, and substrates," Chief Financial Officer Dave Zinsner said. Intel shares were down 3.5% around midday.Oracle (ORCL) has secured a 10-year enterprise software contract worth about $7 billion with the US Department of Defense, the company said late Thursday. The agreement has a base value of $3.31 billion for the first five years and an overall value of $6.99 billion if all options are exercised. The contract will allow the Department of Defense organizations and contractors to procure Oracle's commercial offerings, including on-premises software and software-as-a-service applications, according to the company. The deal enables "a more standardized and efficient path" for the agency to obtain Oracle's cloud and artificial intelligence technology to support its mission-critical objectives, the company's executive vice president of government, defense and intelligence, Kim Lynch, said. Oracle shares were down 1.3%.SpaceX (SPCX) has begun limiting future commercial bookings for its Falcon 9 rocket beyond 2028 as it shifts its long-term launch strategy toward the Starship vehicle, Bloomberg reported Thursday, citing people familiar with the matter. The company is no longer accepting future Falcon 9 launch reservations, including bookings for its rideshare program, and has stopped making certain non-reusable Falcon components. SpaceX could still use Falcon rockets for Department of Defense and NASA missions, while noting its plans could change if Starship development faces further setbacks, according to the report. SpaceX shares were down 4.5%.American Express (AXP) reported Q2 earnings Friday of $4.53 per diluted share, up from $4.08 a year earlier and above the FactSet consensus analyst estimate of $4.40. Q2 net revenue was $19.64 billion, up from $17.86 billion a year ago and below the FactSet consensus of $19.7 billion. The company maintained its full-year EPS guidance at a range of $17.30 to $17.90, and raised its revenue growth outlook to 10%. Analysts expect EPS of $17.72. Card member spending gains of 9%, increased net interest income and card fee growth boosted the top line in the second quarter. "Based on our better-than-expected performance in the first half of the year, we are raising our full-year revenue growth guidance," Chief Executive Stephen Squeri said, adding that the firm plans to invest in growth initiatives as it sees "significant" opportunities ahead. American Express shares were down 5%.Verizon Communications (VZ) reported Q2 adjusted earnings Friday of $1.30 per share, up from $1.22 a year earlier, and above the FactSet consensus estimate of $1.28. Q2 operating revenue was $34.25 billion, down from $34.50 billion a year ago and below the FactSet consensus of $35.16 billion. The company said it expects full-year adjusted EPS of $4.99 to $5.04, compared with prior outlook of $4.95 to $4.99. Analysts expect $4.98. Verizon shares were up 3.5%.Amkor Technology (AMKR) said late Thursday it has entered into a multi-year strategic partnership with Nvidia (NVDA) to develop advanced semiconductor packaging and test technologies for next-generation AI and accelerated computing platforms. According to the agreement, Nvidia will offer a prepayment to support the expansion of Amkor's US advanced packaging capacity. Amkor shares were up 0.3%, while Nvidia shares were up 0.2%.Price: $97.10, Change: $-3.13, Percent Change: -3.12%

$AMKR$AXP$INTC$NVDA$ORCL$SPCX$VZ
Verizon Lifts Earnings Outlook; Charter Communications Reports Broadband Customer Drop
US Markets

Verizon Lifts Earnings Outlook; Charter Communications Reports Broadband Customer Drop

Verizon Communications (VZ) raised its full-year earnings outlook on Friday amid phone subscriber gains in the second quarter, while Charter Communications (CHTR) reported a decline in broadband customers due to competitive pressures.Verizon now forecasts adjusted per-share earnings of $4.99 to $5.04 for 2026, above the FactSet-polled consensus of $4.98. It previously set a guidance range of $4.95 to $4.99.Verizon's adjusted EPS for the June quarter rose to $1.30 per from $1.22 a year earlier, topping the consensus of $1.28. Operating revenue fell 0.7% to $34.25 billion, missing the Street's $35.16 billion estimate, as equipment revenue plunged nearly 20%.The company added 184,000 retail postpaid phone subscribers during the quarter, compared with the consensus estimate of 106,000 net additions. Verizon lost 9,000 subscribers in the prior-year period. Its consumer postpaid phone net adds were the best in the last five years, Verizon said.Shares of Verizon were up 3% in Friday trade, taking year-to-date gains to nearly 11%.Verizon continues to expect this year's postpaid phone net adds in the upper half of its guidance range of 750,000 to 1 million, which it said would be about two to three times last year's additions. Analysts expect subscribers to grow by 967,100 in 2026.Earlier this week, AT&T (T) reported second-quarter earnings that beat Wall Street's estimates as stronger-than-expected growth in wireless subscribers boosted revenue. T-Mobile US (TMUS) second-quarter earnings unexpectedly increased year over year, though revenue fell short of market estimates as postpaid net account additions declined annually.Separately, Charter said its residential Internet customers dropped by a net 166,000, more than the Street's view for a loss of 123,00 subscribers."We've been facing top of the funnel softness," Charter Chief Financial Officer Jessica Fischer said on an earnings call, according to a FactSet transcript. "We continue to see expanded fixed wireless competition versus a year ago, including lower sales from low-income consumers, ongoing mobile substitution and fiber overlap growth at a rate similar to prior quarters, with aggressive promotions by certain competitors."Residential and small business video customers declined by a combined 21,000, including 11,000 in the residential segment. The company added 406,000 total mobile lines, compared with 491,000 additions during the second quarter of 2025.Charter's June-quarter revenue fell 1.7% annually to $13.53 billion, while analysts expected $13.51 billion. EPS rose to $10.66 from $9.18 a year earlier.Shares of Charter declined 4.1% intraday. The stock has slid 42% so far this year.Price: $45.14, Change: $+1.32, Percent Change: +3.01%

$CHTR$T$TMUS$VZ
Wire

Verizon Signs Deal for Google to Use Verizon Dark Fiber Worth Over $1 Billion

Verizon Signs Deal for Google to Use Verizon Dark Fiber Worth Over $1 Billion

$GOOG$GOOGL$VZ
Asia Markets

Update: US Equity Futures Nudge Higher Pre-Bell as Traders Weigh New US Tariffs, Declining Oil Prices

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures nudged higher pre-bell Friday as traders weighed a new set of tariffs imposed by the US on its trading partners and a decline in oil prices.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.2% higher.The US has imposed new tariffs on 60 trading partners over alleged forced labor concerns. Countries that have committed to prohibit forced labor were hit with a 10% tariff, while those that have not committed will receive a rate of 12.5%.President Donald Trump is seriously considering a "massive attack" on Iran, but has not given a deadline for his decision, according to an Axios report Thursday. He said that Iran "wants to negotiate," but he does not currently want to make a deal.US forces completed the 13th straight round of attacks on Iran, US Central Command said in a post on X, adding that the Strait of Hormuz "remains open for transit" despite the recent attacks from Iran's Islamic Revolutionary Guard Corps.Traders also digested the latest round of earnings, with American Express (AXP) posting higher Q2 earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3.4% at $97.27 per barrel and US West Texas Intermediate crude 3.3% lower at $89.20 per barrel.The July S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen at 54.4, up from 53.9 previously, according to estimates compiled by Bloomberg. June new home sales, due at 10 am ET, are seen at a 607,000 annual rate, up from 580,000 previously.In other world markets, Japan's Nikkei closed 2.7% lower, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 1.6% lower. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 0.9% higher in Europe's early afternoon session.In equities, Intel (INTC) stock rose 3.4% after the company reported a Q2 beat for adjusted earnings and its strongest revenue growth in 15 years, driven by a 59% surge in the data center and artificial intelligence unit. Oracle (ORCL) shares were up 2.3% after the company secured a 10-year enterprise software contract worth about $7 billion from the US Department of Defense. Amkor Technology (AMKR) stock was 12% higher after the company said it entered into a multi-year strategic partnership with Nvidia (NVDA) to develop advanced semiconductor packaging and test technologies for next-generation AI and accelerated computing platforms.On the losing side, American Express shares dropped 3.8% after the company reported lower-than-expected Q2 net revenue. Verizon Communications (VZ) stock was down 1.7% after the company posted Q2 operating revenue that fell short of analysts' consensus estimates. Sanofi (SNY) shares fell 1.4% after the company said it stopped clinical testing and global regulatory applications for its amlitelimab medication treating moderate-to-severe atopic dermatitis.

Dow JonesNasdaq CompositeS&P 500$AMKR$AXP$INTC$NVDA$ORCL$SNY$VZ
Stocks Rise Pre-Bell as Traders Assess New US Tariffs, Latest Middle East Developments
US Markets

Stocks Rise Pre-Bell as Traders Assess New US Tariffs, Latest Middle East Developments

The benchmark US stock measures were trending higher before the open Friday as investors assess Washington's new phase of global tariffs and the latest developments in the Middle East.The S&P 500 and the Nasdaq gained 0.2% each in premarket activity, while the Dow Jones Industrial Average added 0.5%. The indexes ended the previous trading session lower, with the Nasdaq and S&P 500 recording their biggest one-day declines since June 23.In a fact sheet published on Thursday, the Office of the US Trade Representative announced new tariffs of 10% or 12.5% on 60 economies that it said have failed to prohibit or effectively enforce bans on imports made with forced labor, including China, India, the UK and the European Union.The duties took effect at 12:01 a.m. ET Friday, replacing President Donald Trump's temporary 10% global tariffs, which expired at the same time, CNBC reported.Earlier this week, Trump signed three proclamations to impose 50% tariffs on the imports of motor vehicles, alcohol and dairy products from Canada.West Texas Intermediate crude oil dropped 3.5% to $88.99 a barrel before the opening bell, while Brent fell 3.6% to $97.13.Trump told Axios on Thursday that he is seriously considering restarting major combat operations against Iran. The US Central Command said it completed its 13th consecutive night of strikes against Tehran on Thursday.The Iran-backed Houthi militants in Yemen recently claimed attacks on two Saudi Arabian oil tankers in the Red Sea, sparking concerns over a potential closure of the Bab el-Mandeb Strait, an alternate shipping route to the Strait of Hormuz.In a social media post, Trump said the US will hold Iran responsible and threatened "major military punishment" if its Houthi proxies continued to attack commercial ships.Treasury yields were down in premarket action, with the two-year rate retreating 3.4 basis points to 4.33% and the 10-year rate off 2 basis points to 4.68%."Rising oil prices have revived talk of a (Federal Reserve) rate hike, with rates markets now beginning to treat next week's (Federal Open Market Committee) meeting as a live decision after the 10-year yield pushed back toward its year-to-date high," Saxo Bank said in a report Thursday.The probability that the Fed will leave its benchmark lending rate unchanged next week stood at 71% on Friday, up from 66% the day before, according to the CME FedWatch tool. The odds of a quarter-percentage-point increase moved down to 29% from 34%.Shares of Intel (INTC) advanced 5.3% pre-bell after the chipmaker reported second-quarter results ahead of Wall Street's estimates. Oracle (ORCL) inclined 2.6% as the cloud computing giant secured a 10-year enterprise software contract worth nearly $7 billion with the US Department of War.American Express (AXP), Verizon Communications (VZ), HCA Healthcare (HCA), SLB (SLB), Charter Communications (CHTR), Booz Allen Hamilton (BAH) and Lamb Weston (LW) report their latest financial results before the bell, among others.Friday's economic calendar has the S&P Global's (SPGI) flash purchasing managers' index for July at 9:45 am ET, followed by the new home sales report for June at 10 am. The weekly Baker Hughes oil-and-gas rig count is out at 1 pm.Gold nudged up 0.3% to $4,061 per troy ounce, while bitcoin increased 0.2% to $64,949.

Dow JonesNasdaq CompositeS&P 500$AXP$BAH$CHTR$HCA$INTC$LW$ORCL$SLB$SPGI$VZ
Update: Wall Street Falls as Traders Await Earnings, Track Middle East Developments
US Markets

Update: Wall Street Falls as Traders Await Earnings, Track Middle East Developments

(Updates with market moves at the end of the day.)Stocks on Wall Street ended Monday's choppy trade lower as markets awaited more earnings releases this week and kept an eye on developments in the Middle East.The Dow Jones Industrial Average fell 0.6% to 51,839.26, while the S&P 500 declined 0.2% to settle at 7,443.28. The Nasdaq Composite dipped 0.1% to 25,508.07. Most sectors were in the red, led by healthcare, while communication services saw the biggest gain.This week, 86 S&P 500 companies are scheduled to release their latest quarterly financial results, Oppenheimer Asset Management said in a note. Google parent Alphabet (GOOG, GOOGL) and electric vehicle maker Tesla (TSLA) -- which are two of the so-called Magnificent 7 stocks -- are slated to report Wednesday.Intel, Philip Morris International (PM), American Express (AXP), T-Mobile US (TMUS), IBM (IBM), AT&T (T) and Verizon Communications (VZ) are among other major names expected to report this week."The reporting calendar is shifting beyond the first wave of money-center banks toward large tech, industrial and consumer names," Tigress Financial said in a note Monday. "The narrative will increasingly focus on whether (artificial intelligence) platforms, cloud providers and key cyclicals can match the strong bank prints without sparking renewed worries about margins or demand."West Texas Intermediate crude oil was up 0.6% at $82.97 a barrel in Monday late-afternoon trade, while Brent rose 0.9% to $88.88.On Sunday, the US Central Command said it completed the ninth consecutive evening of strikes against Iran. The US confirmed the passing of at least three service members during recent fighting with Iran.President Donald Trump said Monday that "every time Iran kills an American soldier they will pay for that killing many times over."Iran could resume negotiations with the US based on national interests, CNBC reported, citing Tehran's foreign ministry spokesman Esmail Baghaei. US intermediaries had continued to exchange messages with Iran, Baghaei reportedly said."If this escalation goes unchecked, we could return to an environment of wide-scale attacks across the Persian Gulf," ING Bank said in a report Monday. "Vessel flows (in the Strait of Hormuz) have essentially ground to a halt."US Treasury yields were higher, with the 10-year rate up 5.5 basis points at 4.6% and the two-year rate rising 3.9 basis points to 4.21%.In company news, Magnolia Oil & Gas (MGY) agreed to acquire privately held WildFire Energy in a roughly $4.06 billion deal, including debt, that will give it a dominant position in the Giddings field in South Texas. Magnolia Oil shares slumped 6.4%.Gold edged down 0.2% to $4,010.30 per troy ounce, while silver advanced 0.5% to $56.62 per ounce.

Dow JonesNasdaq CompositeS&P 500$AXP$GOOG$GOOGL$IBM$MGY$PM$T$TMUS$TSLA$VZ
Equities Mostly Rise Intraday as Chip Stocks Advance
US Markets

Equities Mostly Rise Intraday as Chip Stocks Advance

US benchmark equity indexes were mostly higher intraday Monday as key chipmakers advanced, while traders awaited earnings of some major companies due later in the week.The Nasdaq Composite was up 0.4% at 25,633.1 after midday, while the S&P 500 rose 0.2% to 7,468.7. The Dow Jones Industrial Average fell 0.4% to 51,950.7. Most sectors were in the red, led by materials and consumer staples, while energy paced the gainers.Shares of chipmaking giant Intel (INTC) rose 3.8%, while Nvidia (NVDA), Micron Technology (MU) and Advanced Micro Devices (AMD) were also pointing higher.This week, 86 S&P 500 companies are scheduled to release their latest quarterly financial results, Oppenheimer Asset Management said in a note. Google parent Alphabet (GOOG, GOOGL) and electric vehicle maker Tesla (TSLA) -- which are two of the so-called Magnificent 7 stocks -- are slated to report Wednesday.Intel, Philip Morris International (PM), American Express (AXP), T-Mobile US (TMUS), IBM (IBM), AT&T (T) and Verizon Communications (VZ) are among other major names expected to report this week."The reporting calendar is shifting beyond the first wave of money-center banks toward large tech, industrial and consumer names," Tigress Financial said in a note Monday. "The narrative will increasingly focus on whether (artificial intelligence) platforms, cloud providers and key cyclicals can match the strong bank prints without sparking renewed worries about margins or demand."West Texas Intermediate crude oil was up 0.1% at $82.58 a barrel intraday, while Brent rose 0.5% to $88.55.Iran could resume negotiations with the US based on national interests, CNBC reported, citing Tehran's foreign ministry spokesman Esmail Baghaei. US intermediaries had continued to exchange messages with Iran, Baghaei reportedly said.Amid soaring tensions with Iran, the US is looking to send additional F-16 and F-35 fighter jets from bases in Europe, as well as additional aerial refueling tankers, to the Middle East, CNN reported, citing a US official.On Sunday, the US Central Command said it completed its ninth consecutive evening of strikes against Iran. The US military also confirmed the passing of three service members in the past few days."If this escalation goes unchecked, we could return to an environment of wide-scale attacks across the Persian Gulf," ING Bank said in a report Monday. "Vessel flows (in the Strait of Hormuz) have essentially ground to a halt."US Treasury yields were higher intraday, with the 10-year rate up 6.3 basis points at 4.6% and the two-year rate rising 5.5 basis points to 4.23%.In company news, Magnolia Oil & Gas (MGY) agreed to acquire privately held WildFire Energy in a roughly $4.06 billion deal, including debt, that will give it a dominant position in the Giddings field in South Texas. Magnolia Oil shares were down 5.7% intraday.Gold edged down 0.1% to $4,015.10 per troy ounce, while silver advanced 1.4% to $57.11 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$AXP$GOOG$GOOGL$IBM$INTC$MGY$MU$NVDA$PM$T$TMUS$TSLA$VZ
Stocks Rise Pre-Bell as Traders Await Latest Batch of Earnings, Monitor Middle East Developments
US Markets

Stocks Rise Pre-Bell as Traders Await Latest Batch of Earnings, Monitor Middle East Developments

The benchmark US stock measures were pointing higher before the opening bell Monday as investors await earnings from several major companies this week and monitor developments in the Middle East.The S&P 500 and the Dow Jones Industrial Average rose 0.3% each in premarket activity, while the Nasdaq added 0.6%. The indexes finished Friday's trading session lower.Alphabet (GOOG, GOOGL) and electric vehicle manufacturer Tesla (TSLA) are scheduled to release their quarterly earnings after the markets close Wednesday. Intel (INTC), Philip Morris International (PM), American Express (AXP), T-Mobile US (TMUS), International Business Machines (IBM), AT&T (T) and Verizon Communications (VZ) are also expected to post their results this week.Shares of Domino's Pizza (DPZ) spiked 7.1% pre-bell as the pizza restaurant chain reported better-than-expected fiscal second-quarter revenue. Alibaba's (BABA) US-listed stock rebounded 3.4% after closing Friday down 2.1%.West Texas Intermediate crude oil edged down 0.8% to $81.87 a barrel before the open, while Brent slipped 0.1% to $88.05.Iran's foreign ministry spokesman Esmail Baghaei said that Tehran could resume negotiations with the US based on national interests, CNBC reported. Baghaei told reporters that US intermediaries had continued to exchange messages with Iran.The US Central Command said Sunday its forces completed their ninth consecutive evening of strikes against Iran. In a separate statement, CENTCOM confirmed the passing of three US service members, while a missing fourth member's remains were found in Jordan."Energy and refined fuel flows through the Strait of Hormuz continues to slow amid the escalating conflict between the US and Iran," Saxo Bank said in a Friday report. "The renewed disruption has interrupted the recent recovery in regional supply, reviving concerns about tighter global markets."Treasury yields were trending upwards in premarket action, with the two-year rate increasing 1.5 basis points to 4.19% and the 10-year rate gaining 2.1 basis points to 4.56%.Consumer sentiment this month hit its highest level since February amid easing price pressures at the pump, though renewed tensions in the Middle East could weigh on confidence going forward, according to a survey released Friday by the University of Michigan.Gold nudged up 0.2% to $4,026 per troy ounce, while bitcoin decreased 0.3% to $64,234.

Dow JonesNasdaq CompositeS&P 500$AXP$BABA$DPZ$GOOG$GOOGL$IBM$INTC$PM$T$TMUS$TSLA$VZ
Sectors

Sector Update: Consumer Stocks Rise Late Afternoon

Consumer stocks were higher late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) gaining 2.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.3%.In corporate news, Verizon Communications (VZ) will sell 274 company-owned retail locations as part of its restructuring efforts, which is expected to impact 3,000 employees, multiple media outlets reported Thursday. Verizon shares rose 2.5%.Uber (UBER) said Thursday it has signed a merger 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. Uber shares were up 1%.United Airlines (UAL) raised the low end of its full-year earnings outlook and reported upbeat Q2 results, but the air carrier warned that rising oil prices are expected to add nearly $6 billion to its fuel costs this year. Its shares fell 2.4%.Honda (HMC) informed its US dealers on Thursday that it's halting production of the Honda Prologue, the last electric vehicle in its US lineup, Bloomberg reported, citing an interview with Lance Woelfer, the company's head of US sales operations. Separately, Honda plans to begin production of its UC3 electric motorcycle in Vietnam as early as September, shifting manufacturing from Thailand as it looks to capitalize on growing demand for electric two-wheelers in the country, Nikkei reported Thursday. Honda shares were up 2.9%.

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Wire

Verizon Reportedly Advances Restructuring Efforts With Plan to Sell 274 Retail Stores

Verizon Communications (VZ) will sell 274 company-owned retail locations as part of its restructuring efforts, which is expected to impact 3,000 employees, multiple media outlets reported Thursday.The retail changes will become effective Aug. 16, according to the news outlets.Affected employees are likely to be retained by the new owners, Bloomberg reported Thursday.Verizon Communications did not immediately respond to a request for comment from.Price: $44.04, Change: $+1.21, Percent Change: +2.81%

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Wire

Scotiabank Adjusts Verizon Communications Price Target to $51.50 From $54.50, Maintains Sector Perform Rating

Verizon Communications (VZ) has an average rating of overweight and mean price target of $51.34, according to analysts polled by FactSet.Price: $42.95, Change: $+0.48, Percent Change: +1.13%

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Wire

Verizon Plans Another Round of Job Cuts This Week, Barron's Reports

Verizon Plans Another Round of Job Cuts This Week, Barron's Reports

$VZ
Wire

Verizon Business, KDDI Partner With BMW Group on US Connected Vehicles

Verizon Communications' (VZ) Verizon Business division and KDDI said Thursday they are collaborating with BMW Group to provide telematics connectivity for new BMW, MINI and other BMW Group vehicles manufactured for the US market.Financial details weren't disclosed.Under the collaboration, Verizon will provide 5G Standalone and LTE connectivity through its US network and KDDI will supply its Global Communications Platform, enabling BMW ConnectedDrive and other digital infotainment, remote, app and telematics services for BMW Group vehicles in the US, the companies said.Price: $41.87, Change: $-0.58, Percent Change: -1.37%

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Stocks Rise Pre-Bell as US-Iran Agree to Halt Renewed Hostilities; Traders Await Fresh Labor Data
US Markets

Stocks Rise Pre-Bell as US-Iran Agree to Halt Renewed Hostilities; Traders Await Fresh Labor Data

The benchmark US stock measures were tracking in the green before the opening bell Monday as the US and Iran agreed to halt renewed hostilities, while traders await fresh labor market data later in the holiday-shortened week.The S&P 500 rose 0.5%, the Dow Jones Industrial Average increased 0.2% and the Nasdaq added 0.8% in premarket activity. The indexes finished Friday trading lower, with the Nasdaq extending its losses for a fifth consecutive session.US markets will be closed on Friday for the July 4 Independence Day holiday.The US and Iran agreed on Sunday to cease attacks on each other and allow commercial vessels to pass freely through the Strait of Hormuz, CNBC reported. "Technical talks are slated to continue on all areas of the (memorandum of understanding)," a US official told CNBC. "Both sides will stand down for now and vessels can move freely."The US launched a fresh round of strikes against multiple targets in Iran over the weekend, the US Central Command said in a statement on Saturday. The attacks came amid reports that Iran had carried out strikes on eight key US military installations across the Middle East.Last week, President Donald Trump accused Tehran of violating the ceasefire agreement signed earlier in the month by attacking ships passing through the strait with drones. "There may come a point when we are no longer able to be reasonable, and will be forced to militarily complete the job that we very successfully started," Trump said in a social media post on Saturday.West Texas Intermediate crude oil inclined 1.7% to $70.42 a barrel before the open, while Brent advanced 1.4% to $72.96.Investors will be looking ahead to fresh labor market data later this week, beginning with the Job Openings and Labor Turnover Survey for May on Tuesday, followed by the ADP employment report and the Challenger Job Cut report, both for June, on Wednesday. The government's nonfarm payrolls data for June is scheduled to be released on Thursday.Treasury yields were trending upwards in premarket action, with the two-year rate increasing 2.1 basis points to 4.11% and the 10-year rate rising 1 basis point to 4.38%.Last week, government data showed that consumer spending rose more than projected in May, while the Federal Reserve's preferred inflation metric accelerated to the fastest reading in more than two years.Minneapolis Federal Reserve President Neel Kashkari reportedly said Friday that an interest rate increase looks necessary this year.Consumer sentiment increased in June amid moderating gasoline prices, while inflation expectations eased, according to a survey by the University of Michigan on Friday.Monday's thin economic calendar has the Dallas Fed manufacturing survey for June at 10:30 am ET.Comcast (CMCSA) shares jumped 18% pre-bell after the company announced plans to separate its media and technology businesses into two publicly traded entities. Verizon Communications (VZ) edged down 0.2% as the telecommunications giant agreed with UK-based BT Group to combine their international businesses in a joint venture.Nike (NKE), Constellation Brands (STZ) and General Mills (GIS) are expected to release their latest financial results this week. AeroVironment (AVAV) and Concentrix (CNXC) post their earnings after the markets close Monday.Gold declined 1.1% to $4,052 per troy ounce, while bitcoin gained 1.3% to $60,117.

Dow JonesNasdaq CompositeS&P 500$AVAV$CMCSA$CNXC$GIS$NKE$STZ$VZ
Wire

Verizon Wireless Obtains Approval From FCC for Array Digital's Spectrum Licenses

Verizon Communications (VZ) and Array Digital Infrastructure (AD) have obtained approval from the US Federal Communications Commission to assign several cellular, AWS-1, AWS-3, and PCS licenses from Array subsidiaries to Verizon Wireless, the commission said in a memorandum Thursday.The Verizon Communications subsidiary is targeting to acquire zero to 25 megahertz of cellular spectrum, zero to 20 megahertz of AWS-1 spectrum, zero to 10 megahertz of AWS-3 spectrum, and zero to 20 megahertz of PCS spectrum in 618 counties across 19 states, covering roughly 8% of the US population, according to the memorandum.The risk of public interest harm due to the applications is low, the commission said, adding that the transaction "is likely to produce public interest benefits that will enable Verizon Wireless to provide a better overall experience to its customers."Price: $47.13, Change: $-0.08, Percent Change: -0.17%

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Wire

Verizon Launches Cash Tender, Private Exchange Offers for Outstanding Debt

Verizon Communications (VZ) said Monday it started cash tender and private exchange offers for multiple series of outstanding notes.The telecom provider is proposing to buy back any amount of specific debt securities alongside up to $1.25 billion of targeted "Waterfall" notes, the company said.A concurrent exchange program permits qualified institutional buyers and international investors to trade 11 series of older unit debt for newly issued corporate notes, Verizon said.Investors must submit their notes by June 1 to qualify for early participation benefits, while the overall transactions are scheduled to expire on June 16, the company said.Price: $47.65, Change: $+0.43, Percent Change: +0.90%

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