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Exchange-Traded Funds, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM edged lower and IVV rose. Actively traded Invesco QQQ Trust (QQQ) added 0.9%.US equity indexes traded mixed in midday trading on Wednesday amid a hot producer price inflation print.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each lost about 0.5%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) rose 0.9%; iShares US Technology ETF (IYW) gained 1.4%, and iShares Expanded Tech Sector ETF (IGM) was up 0.9%.The State Street SPDR S&P Semiconductor (XSD) climbed 3.3%, and iShares Semiconductor (SOXX) was up 2.4%.FinancialThe State Street Financial Select Sector SPDR (XLF) fell 1.1%. Direxion Daily Financial Bull 3X Shares (FAS) declined 3%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 3.1%.CommoditiesCrude oil fell 0.5%, and the United States Oil Fund (USO) lost 1.1%. Natural gas rose 0.3%, and the United States Natural Gas Fund (UNG) added 1%.Gold on Comex was up 0.5% and the State Street SPDR Gold Shares (GLD) slipped 0.3%. Silver climbed 5%, and iShares Silver Trust (SLV) added 2.6%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) dipped 0.2%. The Vanguard Consumer Staples ETF (VDC) shed 0.2%, and iShares Dow Jones US Consumer Goods (IYK) fell 0.2%.The State Street Consumer Discretionary Select Sector SPDR (XLY) gained 0.6%. VanEck Retail ETF (RTH) fell 0.1%, and the State Street SPDR S&P Retail (XRT) was down 1.4%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) added 0.3%, iShares US Healthcare (IYH) rose 0.2%, and Vanguard Health Care ETF (VHT) gained 0.3%. IShares Biotechnology ETF (IBB) was down 0.3%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) fell 0.4%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 1.9%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) shed 2.2%, ProShares Ether ETF (EETH) was down 1.6%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 1.5% lower.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH

Asia Markets41d ago

Swiss Market Index Remains in Green; Adecco Tumbles

The Swiss Market Index remained in the green on Wednesday, closing 0.71% higher, as earnings updates from corporate majors and economy-related data prints poured in.Zurich Insurance Group's (ZURN.SW) insurance revenue from its property and casualty segment climbed to $12 billion in the three months ended March 31 from the year-ago $10.78 billion, while gross written premiums climbed 17% on a reported basis to $15.56 billion. The life insurance business delivered a 5% reported growth in gross written premiums and deposits to $9.85 billion. Zurich's stock gained 4.07% at closing."All our businesses started the year strongly, with growth accelerating across targeted business lines and customer segments, including Specialty, Middle Market and Life Protection. Combined with our geographic diversification, these results highlight the resilience of our business model and the strength of our franchise," Group Chief Financial Officer Claudia Cordiol said. "Thanks to our strong capital position, we are well positioned to navigate the current uncertain environment and stay on track to meet or exceed our 2027 targets."On the flip side, Adecco (ADEN.SW) saw its shares fall 16.67% as it booked a year-over-year decline in gross profit to 1.06 billion euros from 1.08 billion euros in the first quarter, with gross profit margin down 60 basis points to 18.8%, negatively impacted by currency effects. The Swiss recruitment services company's revenue and net income attributable to shareholders, on the other hand, grew 2% and 16% over the period, respectively.On the defense front, Switzerland maintained its suspension of payments to the US for Patriot missile systems amid a further delay in delivery and higher costs due to the ongoing war in the Middle East. The Swiss government said it is reviewing potential options presented by the US and is awaiting feedback from five other suppliers of long-range, ground-based air defense systems from Germany, France, Israel, and South Korea.Elsewhere and in economic news, the euro area's seasonally adjusted gross domestic product inched up 0.1% in the first quarter, after a 0.2% increase in the prior three-month period, according to Eurostat's second estimate. Meanwhile, flash data showed that the number of employed individuals in the euro area ticked up 0.1% in the first quarter following a 0.2% rise in the previous quarter.The SIX Swiss Exchange is set to reopen on Friday after tomorrow's Ascension Day holiday.

^SSMI$ADEN.SW$ZURN.SW

Asia Markets41d ago

Germany's DAX Index Closes Busy Earnings Day in Green

German shares ended an earnings-heavy session in positive territory, with the blue-chip DAX index up 0.76% on Wednesday.Merck KGaA (MRK.F) was among the index's top performers, rising 7.21%, after lifting its full-year 2026 guidance, driven by expected growth in its life science and healthcare businesses despite challenging market conditions. The German science and technology company expects 2026 net sales of 20.4 billion euros to 21.4 billion euros, compared with its previous forecast of 20 billion euros to 21.1 billion euros.Meanwhile, Siemens' (SIE.F) fiscal second-quarter sales held steady at 19.76 billion euros, 1.9% behind the consensus estimate of 20.14 billion euros and 1.4% below RBC Capital Markets' forecast of 20.03 billion euros. On the flip side, the German technology group's reported orders climbed 11% to 24.11 billion euros on increased demand in most of its industrial businesses, particularly smart infrastructure."Overall, a supportive progression in [Digital Industries / Smart Infrastructure] (but consensus already positioned in the upper end of guidance here), but slightly disappointing that this is offset at the group level by Mobility and Healthineers (SHL.F). While Siemens is making corporate progress with the reduction in its stake in Healthineers, the slow timeline on the spin, and uncertainty around factors such as the macro demand backdrop and AI software risks, may still limit investor enthusiasm in the short term," the research firm wrote in a quick-take note. Siemens was up 0.83% at the end of the trading day, while Siemens Healthineers gained 0.09%.In economic news, the eurozone's gross domestic product ticked up 0.1% for the first quarter, after a 0.2% rise in the previous three-month period and consistent with the initial estimate. According to Eurostat's second estimate, the eurozone registered 0.8% economic growth on a yearly basis, consistent with the initial data and against the previous 1.3% growth, which factored in recently joined Bulgaria, and the 1.2% jump excluding that country.Back at home, Germany's selling prices in wholesale trade were up 6.3% year over year in April, following a 4.1% jump in March. On a monthly basis, wholesale prices were 2% higher, against the previous 2.7% gain.On the geopolitical front, Danske Bank said it does not anticipate "major breakthroughs" from the upcoming meeting between US President Donald Trump and Chinese President Xi Jinping. "Trump does not have the incentives nor the means to ramp up the pressure on China with focus remaining on the war in Iran and earlier court ruling still constraining his tariff weapon," the research firm wrote in a preview report.

^DAX$MRK.F$SHL.F$SIE.F

Asia Markets41d ago

UK Shares Gain as Market Weighs King's Speech, Political Developments

London's FTSE 100 closed 0.35% higher on Wednesday as investors assessed political developments in the UK, including King Charles III's Speech and cabinet resignations, while awaiting gross domestic product and other economic data due on Thursday."During yesterday's cabinet meeting, PM Starmer reiterated his call that he would stay on despite the number of [members of parliament] wanting Starmer to quit crossing the 81 required to mark a leadership challenge if they coalesced around a candidate. It's important to note that any calls or letters for Starmer to resign don't trigger anything unless MPs explicitly back an alternative candidate. So even as four ministers resigned from government yesterday, it does look increasingly possible that he will see this through for now, with Polymarket odds of Starmer leaving by June 30 down to 33% this morning from as high as 80% on Monday night," Deutsche Bank Research said.In parliament, the King's Speech outlined the government's legislative agenda for the parliamentary session, including stronger ties with the European Union and measures focused on economic growth, housing, energy security, and public sector reform.In corporate news, assurance, testing, and certification company Intertek Group (ITRK.L) halted its strategic review as it plans to facilitate Swedish private equity giant EQT with confirmatory due diligence ahead of a final takeover agreement. The stock closed at one of the top spots on the blue-chip index, gaining 5.28%."Since we cannot be certain that a firm offer will follow the confirmatory due diligence set to occur through the [put up or shut up] period (likely now extended to 11th June), we lower our rating to Sector Perform [from outperform]," RBC Capital Markets said.Meanwhile, Spirax Group (SPX.L) was down 1.74% after maintaining its 2026 guidance for organic growth in group revenue while flagging a "weak [industrial production] environment." For the first four months ended April 30, the British thermal energy and fluid technology company logged mid-single-digit organic growth in group revenue, in line with expectations.Next, investors await GDP numbers for March, which are widely expected to show a yearly ease in economic growth to 0.7% from 1% in February and a monthly contraction of 0.2% after a 0.5% rise previously.

FTSE 100$ITRK.L$SPX.L

Asia Markets41d ago

European Stocks Rise in Wednesday Trading; Investors Monitor US-China Summit for Possible Easing of Trade Restrictions

The European stock markets were trending higher in Wednesday trading as investors monitor President Trump's visit to China, with some expecting the summit could lead to an easing of tech export restrictions.The Stoxx Europe was rising 0.7%, Germany's DAX was gaining 0.6%, the UK's FTSE 100 was up 0.4%, France's CAC was increasing 0.3%, and the Swiss Market Index was advancing 0.7%.And in corporate news, Novo Nordisk presented new analyses from its phase 3 OASIS 4 trial showing that adults treated with Wegovy pill achieved substantial weight loss and improved physical function, the drugmaker said Wednesday.Nearly 29% of adults taking oral semaglutide 25 mg were early responders, achieving average weight loss of 13.2% at 16 weeks and 21.6% by week 64, while non-early responders still recorded an average weight loss of 11.5% by the end of the trial, the company said.Shares of the Danish pharmaceutical company were up 0.9% in Copenhagen.Stellantis and other European carmakers are in talks with BYD over potential agreements involving underused European manufacturing plants, Bloomberg reported Wednesday, citing a senior BYD executive.BYD would prefer to operate any acquired facilities independently rather than through joint ventures, the report said.In a statement emailed to, a Stellantis spokesperson referred as part of its normal course of business, Stellantis engages in discussions with a range of industry players around the world on various topics, always with the ultimate aim of providing customers with the best mobility choices. The company does not comment on speculation.Shares of Stellantis were rising 4% in Paris.Equinor plans to hold talks with major European customers on whether they would support ambitious and expensive new projects to recover oil and gas supplies, Bloomberg reported Wednesday, citing people familiar with the matter.Equinor will confer with officials from Germany, the UK, Belgium, Poland, and the Netherlands, who are due in Oslo on May 18 for an event hosted by gas pipeline operator Gassco, the report said.Equinor did not immediately reply to' request for comment.Shares of the Norwegian petroleum refiner were little changed in Oslo.Astrazeneca signed a three-year licensing agreement with Owkin to develop biopharma AI agents using Owkin's K Pro platform for drug development and decision-making, Owkin said Wednesday.Under the agreement, Owkin said it will develop and deploy AI agents within AstraZeneca's IT systems and workflows to support competitive intelligence and data-driven decision making across the biopharma value chain.Shares of the British pharmaceutical company were off 0.6% in London.BP has halted contract discussions with the US steelworkers' union after the lockout of over 800 employees at its Whiting, Indiana, facility, Reuters reported Wednesday, citing a statement from the union.Shares of BP were down 0.4% in London.

Asia Markets41d ago

European Equities Traded in the US as American Depositary Receipts Flat in Wednesday Trading

European equities traded in the US as American depositary receipts were little changed late Wednesday morning, edging 0.08% higher to 1,829.64 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by telecommunications company Nokia (NOK) and biotech firm Evaxion (EVAX), which rose 4.1% and 3.9% respectively. They were followed by pharmaceutical company Ascendis Pharma (ASND) and accommodations booking site trivago (TRVG), which were up 0.5% and 0.3% respectively.The decliners from continental Europe were led by software firm SAP (SAP) and medical device maker EDAP TMS (EDAP), which dropped 4.8% and 4.7% respectively. They were followed by biopharmaceutical company DBV Technologies (DBVT) and furniture maker Natuzzi (NTZ), which lost 1.9% and 1.8% respectively.The gainers from the UK were led by biopharmaceutical company Akari Therapeutics (AKTX) and biotech firm Autolus Therapeutics (AUTL), which rose 11% and 4.7% respectively. They were followed by mining company BHP Group (BHP) and telecommunications operator Vodafone Group (VOD), which were up 2.7% and 2.2% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Mereo BioPharma Group (MREO) and software firm Endava (DAVA), which fell 3.1% and 2.9% respectively. They were followed by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and educational publisher Pearson (PSO), which were down 2.1% and 1.4% respectively.

$AKTX$ASND$AUTL$BDRX$BHP$DAVA$DBVT$EDAP$EVAX$MREO$NOK$NTZ$PSO$SAP$TRVG$VOD

Asia Markets41d ago

Asian Equities Traded in the US as American Depositary Receipts Wednesday Surge Higher in Wednesday Trading

Asian equities traded in the US as American depositary receipts were surging higher Wednesday morning, climbing 1.87% to 2,896.53 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by internet and data center services provider VNET Group (VNET) and video display maker LG Display (LPL), which surged 29% and 8.6% respectively. They were followed by online retailer JD.com (JD) and semiconductor company Himax Technologies (HIMX), which climbed 6% and 3.3% respectively.The decliners from North Asia were led by online game developer The9 (NCTY) and data centers and crypto assets company Token Cat (TC), which lost 3.3% and 3.2% respectively. They were followed by lender Shinhan Financial Group (SHG) and streaming music service Tencent Music Entertainment Group (TME), which dropped 2.8% and 2.2% respectively.From South Asia, the only gainers were pharmaceutical company Dr. Reddy's Laboratories (RDY) and telecommunications operator Telekomunikasi Indonesia (TLK), which rose 2.7% and 0.7% respectively.The decliners from South Asia were led by fintech firm Trident Digital Tech (TDTH) and IT firm Infosys (INFY), which fell 12% and 2.3% respectively. They were followed by computer hardware maker Canaan (CAN) and IT firm Wipro (WIT), which were down 1.7% and 1.3% respectively.

$CAN$HIMX$INFY$JD$LPL$NCTY$RDY$SHG$TC$TDTH$TLK$TME$VNET$WIT

Asia Markets41d ago

Tadawul Shares Close Wednesday Lower Ahead of Saudi April Inflation Data

The Tadawul All Share Index closed on Wednesday 0.17% lower as market watchers await Saudi Arabia's latest inflation print on Thursday, as well as the outcome of the US visit to China.US President Donald Trump is set to meet his Chinese counterpart, Xi Jinping, at a two-day summit in Beijing, China. The meeting will focus on Trump's request to "open up" the Asian nation to American businesses."The premise for the meeting between the leaders of the US and China has changed on multiple fronts since Trump and Xi agreed on a trade war truce in Busan last October," Danske Bank said in a note. "The countries could agree on China increasing purchases of US agricultural goods, an extended tariff truce and establishment of mutual trade and investment 'boards', though these should be seen as largely symbolical. Change in the wording of US policy on Taiwan would be a major victory for China."Dampening sentiment during the session, the Saudi Air Force reportedly launched retaliatory attacks on Iran. The strikes were reportedly followed by diplomatic talks to de-escalate the situation, Reuters reported, citing Iranian and Western officials.On the corporate front, Advanced Building Industries (SASE:2240), d/b/a Senaat, ticked up 1.34% as its Advance Construction Solutions Co. for Projects, or Zodcon, unit secured a 20-month project to develop a multi-purpose facility for the TKE Alat Manufacturing Co. joint venture.Meanwhile, Almasane Alkobra Mining (SASE:1322), d/b/a Amak, restarted the operations of its Al Masane plant after a 16-week operations halt. The facility processes base metals, zinc, and copper concentrates. Shares of the mining company closed 0.62% in the red.

^TASISASE:1322SASE:2240

Asia Markets41d ago

US Equity Futures Mixed Pre-Bell as Nvidia Stock Rises Ahead of Crucial US-China Meeting

US equity futures were mixed pre-bell Wednesday as Nvidia (NVDA) stock rose ahead of a globally significant meeting between the US and China to discuss key economic and geopolitical issues.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.7% higher.Nvidia shares were up nearly 2% after President Donald Trump confirmed in a post on Truth Social that Nvidia Chief Executive Jensen Huang is accompanying him on his visit to Beijing, raising expectations of progress in stalled talks over Nvidia's H200 AI chip sales to China. Also mentioned in the post were Tesla (TSLA) CEO Elon Musk and Tim Cook of Apple (AAPL), among others.Traders took note of the latest round of earnings. Alibaba Group (BABA) reported lower fiscal Q4 adjusted earnings and higher revenue, while Nebius Group (NBIS) posted a swing to Q1 earnings and higher revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.2% at $107.95 per barrel and US West Texas Intermediate crude 0.2% higher at $102.42 per barrel.The US Producer Price Index rose by 1.4% in April following a 0.7% gain in March, well above the 0.5% gain expected in a survey compiled by Bloomberg as of 7:35 am ET.Federal Reserve Boston President Susan Collins, Minneapolis President Neel Kashkari, and Dallas President Lorie Logan are slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 0.8% higher, Hong Kong's Hang Seng ended 0.2% higher, and China's Shanghai Composite finished 0.7% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.8% higher in Europe's early afternoon session.In equities, chipmakers Micron Technology (MU), AMD (AMD), and Intel (INTC) shares were up 5%, 1.2%, and 2.4%, respectively, on traders' optimism regarding the meeting between Trump and Chinese President Xi Jinping. Nebius stock was up 15% after the company posted its Q1 financial results.On the losing side, American Electric Power (AEP) stock was down 3.6% after the company priced a public offering of roughly 20.5 million common shares at $127 each. Alibaba shares were down 2.4% after the company reported its fiscal Q4 financial results.

Dow JonesNasdaq CompositeS&P 500$AAPL$AEP$AMD$BABA$INTC$MU$NBIS$NVDA$TSLA

Asia Markets41d ago

Emirati Equities Close Mixed as US Inflation Takes Spotlight

United Arab Emirates indices failed to find direction on Wednesday as higher-than-expected US inflation data, driven by higher energy prices due to the continued closure of the Strait of Hormuz, weighed on sentiment.At the close of trading, the FTSE ADX General Index was little changed at 0.06% in the green, while the DFM General Index declined 0.41%."Tuesday saw headline US CPI inflation come in at 3.8% year-on-year for April. It was 2.4% before the war. That's a 140bp uplift, and it's not done. As it is, we're set to hit 4% in May. Core hits 3% down the line. A persistence to the war and we risk adding to that. Getting to 5% inflation is quite probable if it goes on and on. From here, we likely have another week of waiting and watching the war given the China summit distraction, with the Strait remaining shut tight," ING said.On the geopolitical front, US President Donald Trump, ahead of his visit to China, said he does not need China's assistance to end its conflict with Iran and that the war will be won "peacefully or otherwise," Reuters reported Tuesday."The Iran war is likely to be discussed between the two leaders, but we do not expect any changes in China's approach to the war. Trump goes to Beijing with few cards on the hand and to avoid a further loss of face in the war, Trump might not push for any concessions that China is unlikely to give," Danske Bank said in a note. "However, Xi will likely repeat the words by China's Foreign Minister that China is willing to play a 'greater role in restoring peace'.Zooming in at home, the corporate side of the region saw another wave of earnings reports. Abu Dhabi National Oil Co. For Distribution (ADX:ADNOCDIST), d/b/a Adnoc Distribution, and Abu Dhabi Ports Co. (ADX:ADPORTS), d/b/a AD Ports Group, both logged higher attributable profits for the first quarter and closed 1.32% and 0.46% in the green, respectively.In Dubai, stocks of Dubai Refreshment (DFM:DRC) closed flat, while United Foods Co. (DFM:UFC) ended 0.15% higher. Both Dubai-listed consumer goods companies recorded higher profits for the three months ended March 31.

^DFMGI^FADGIADX:ADNOCDISTADX:ADPORTSDFM:DRCDFM:UFC

Asia Markets42d ago

Malaysian Shares End in Red As Rubber Output Shrinks; iCents' Shares Rally 10%

Malaysian shares reversed yesterday's gains on Wednesday to end in the red as the country's rubber production dropped in March. The index bucked broader regional gains today.The FTSE Bursa Malaysia KLCI shed 4.25 points to end 0.2% lower at 1,746.31. The day range was between 1,742.41 and 1,752.64.In economic news, Malaysia's natural rubber production fell 8.2% in March to 21,310 tonnes from 22,124 tonnes in February, the country's statistics department said. Annually, production dropped 29.3% from 28,739 tonnes, data showed.Moreover, the value of work done in Malaysia's construction sector expanded 8.5% year-on-year in the first quarter, easing from 10.3% in the previous quarter, the DoSM data showed. The expansion was supported by broad-based activity across key segments.In corporate news, shares of iCents Group (KLSE:ICENTS) jumped over 10% on today's close after its unit VC Engineering secured a 34.5 million ringgit subcontract linked to a data center project.Shares of Carimin Petroleum (KLSE:CARIMIN) slid over 1% on close after it proposed to fully privatize offshore marine support provider Sealink International (KLSE:SEALINK) in a cash deal valued at 165 million ringgit.

FTSE Bursa Malaysia KLCIKLSE:CARIMINKLSE:ICENTSKLSE:SEALINK

Asia Markets42d ago

US Equity Indexes Mixed as Hot Inflation Print Hits Technology, Iran Deadlock Continues

US equity indexes traded mixed on Tuesday as a hotter-than-expected inflation print amid soaring gas prices restrained growth sectors, while the Iran stalemate continued.The Nasdaq fell 0.7% to 26,088.20, and the S&P 500 declined 0.2% to 7,400.96. Both gauges ended off session lows. The Dow Jones Industrial Average rose 0.1% to 49,760.56, clawing back all declines from earlier in the day. Technology and consumer discretionary sectors led decliners. Health care and consumer staples were among the top gainers.The US seasonally adjusted consumer price index jumped by 3.8% year-over-year in April from 3.3% in the prior month, according to data released Tuesday by the Bureau of Labor Statistics, compared with the 3.7% consensus. Core CPI, which excludes food and energy prices, climbed by 2.8% annually from 2.6%, versus expectations for 2.7%.The CPI increased 0.6% month-over-month, as expected, following a 0.9% increase in March. Core CPI gained 0.4%, above the 0.3% consensus and 0.2% a month ago.Gasoline prices rose a further 5.4% in April following a gain of more than 21% in March due primarily to the ongoing closure of the Strait of Hormuz, the choke point for about a fifth of global crude oil flows, according to a Jefferies note."Jointly in March/April the gasoline price rise equates to the largest two-month change [non-seasonally adjusted] on record with data back to 1935," David Doyle, head of economics at Macquarie, said in a note. "As we have been highlighting for some time, we see the next move as a hike with our baseline timing being in 1H27."Federal Reserve Bank of Chicago President Austan Goolsbee said inflation readings show pervasive price pressures in the US economy and may even indicate overheating, Bloomberg News cited NPR."If you look at the components that are not energy, like services, if that is an indication that the underlying economy is overheating, then the Fed has got to be thinking about how do we break the chain of escalating inflation," Goolsbee was cited as saying Tuesday.US Treasury yields jumped, with the 10-year up 5.1 basis points to 4.46%, the highest since about July. The two-year rate advanced 4.4 basis points to almost 3.99%, the strongest since June.West Texas Intermediate crude oil futures surged 4.3% to $102.30, and Brent crude futures increased 3.3% to $107.68 as a faltering ceasefire between the US and Iran kept the Strait of Hormuz closed, continuing the largest-ever energy supply shock."Oil prices climbed ... as the global oil market continued to tighten amid limited prospects for a reopening of the Strait of Hormuz," Saxo Bank wrote in a note. "The move followed Trump casting doubt over a ceasefire, with Israel signalling the war is not over."Britain said on Tuesday it would contribute autonomous mine-hunting equipment, Typhoon fighter jets, and the warship HMS Dragon to a multinational defensive mission aimed at securing shipping in the Strait of Hormuz, Reuters reported. Defence minister John Healey announced the commitment during a virtual summit with more than 40 of his counterparts from other nations involved in the mission, which he said would become operational when conditions allowed, the news report saidIn precious metals, gold futures slipped 0.2% to $4,720.1, while silver futures climbed 1.5% to $87.19.

Dow JonesNasdaq CompositeS&P 500

Asia Markets42d ago

US Equity Indexes Fall Amid Hot Inflation Print, Deadlocked Iran Peace Efforts

US equity indexes dropped in Tuesday's midday trading as a hotter-than-anticipated inflation print amid soaring gas prices hit growth sectors, while a stalemate continued in Iran peace talks.The Nasdaq slumped 2% to 25,753.1, with the S&P 500 down 1% to 7,340.4 and the Dow Jones Industrial Average lower by 0.2% to 49,604.2.The US seasonally adjusted consumer price index jumped by 3.8% in April from 3.3% in the prior month, according to data released Tuesday by the Bureau of Labor Statistics, compared with the 3.7% consensus. Core CPI, which excludes food and energy prices, climbed by 2.8% from 2.6%, versus expectations for 2.7%.The CPI increased 0.6% in April, as expected, following a 0.9% increase in the previous month. Core CPI gained 0.4%, higher than the consensus estimate for a 0.3% increase. Core CPI rose by 0.2% in March.Gasoline prices rose a further 5.4% in April following a gain of more than 21% in March because of the ongoing closure of the Strait of Hormuz, the choke point for about a fifth of global crude oil flows, according to a Jefferies note.Federal Reserve Bank of Chicago President Austan Goolsbee said inflation readings show pervasive price pressures in the US economy and may even indicate overheating, Bloomberg cited NPR."If you look at the components that are not energy, like services, if that is an indication that the underlying economy is overheating then the Fed has got to be thinking about how do we break the chain of escalating inflation," Goolsbee was cited as saying Tuesday.The probability of a 25 basis-point increase in interest rates to 3.75% to 4% jumped for each of the last three meetings of this year out of the remaining five, according to data compiled by the CME FedWatch tool. The likelihood of an increase in September is in high single digits, over a fifth in October, and almost a third in December.US Treasury yields jumped, with the 10-year up 4.7 basis points to 4.46%, the highest since about July. The two-year rate jumped 5.1 basis points to almost 4%, the strongest since June.In post-midday trading, technology and consumer discretionary sectors led the decliners in a broadly negative tape. Healthcare and consumer staples were among the gainers.Meanwhile, oil prices jumped as a faltering ceasefire between the US and Iran kept the Strait of Hormuz closed, continuing the largest-ever energy supply shock.West Texas Intermediate crude oil futures surged 3.9% to $101.88, and Brent crude futures increased 3.4% to $107.70."Oil prices climbed ... as the global oil market continued to tighten amid limited prospects for a reopening of the Strait of Hormuz," Saxo Bank wrote in a note. "The move followed Trump casting doubt over a ceasefire with Israel signalling the war is not over."In precious metals, gold futures slid 1.1% to $4,675.3, and silver futures declined 1.2% to $84.92 amid concerns that higher crude oil prices will boost inflationary pressures.In company news, eBay (EBAY) rejected GameStop's (GME) proposal to acquire the e-commerce company for about $55.5 billion.

Dow JonesNasdaq CompositeS&P 500$EBAY$GME

Asia Markets42d ago

Exchange-Traded Funds Lower as US Equities Drop After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV fell. Actively traded Invesco QQQ Trust (QQQ) shed 2.2%.US equity indexes fell after midday Tuesday after a hotter-than-expected inflation print for April hit technology and consumer discretionary shares.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 0.7%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) fell 3.5%; iShares US Technology ETF (IYW) fell 3.1%, and iShares Expanded Tech Sector ETF (IGM) eased 3.4%.The State Street SPDR S&P Semiconductor (XSD) declined 8.2%, and iShares Semiconductor (SOXX) was down 6.8%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) rose 2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 1.8%.CommoditiesCrude oil rose 3.9%, and the United States Oil Fund (USO) gained 3.7%. Natural gas lost 3.5%, and the United States Natural Gas Fund (UNG) slipped 3.7%.Gold on Comex dipped 1.1% and the State Street SPDR Gold Shares (GLD) declined 1.3%. Silver fell 1.3%, and iShares Silver Trust (SLV) lost 2%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 1.8%. The Vanguard Consumer Staples ETF (VDC) added 1.7%, and iShares Dow Jones US Consumer Goods (IYK) gained 1.8%.The State Street Consumer Discretionary Select Sector SPDR (XLY) fell 1.5%. VanEck Retail ETF (RTH) rose 0.3%, and the State Street SPDR S&P Retail (XRT) fell 0.9%.Health CareThe State Street Health Care Select Sector SPDR (XLV) added 2.4%, iShares US Healthcare (IYH) rose 2.3%, and Vanguard Health Care ETF (VHT) gained 2.1%. IShares Biotechnology ETF (IBB) was up 1.1%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) fell 1.1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 2.2%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) shed 2.5%, ProShares Ether ETF (EETH) was down 3.3%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 1.5% lower.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH

Asia Markets42d ago

Swiss Market Index Closes Higher; SoftwareOne Shares Jump

Swiss stocks were in positive territory on Tuesday, with the Swiss Market Index up 0.14% at the end of the trading day, amid a slew of economic data and corporate earnings releases that hit the market.Switzerland's producer and import price index rose 0.8% month over month in April and fell 2% on a yearly basis to 100.5 points, according to data from the Federal Statistical Office.In the euro area, the ZEW Indicator of Economic Sentiment for the bloc improved to -9.1 points in May from -20.4 points in April. Across the pond, the annual inflation rate in the US climbed to 3.8% in April from 3.3% a month earlier, while the annual core inflation rate rose to 2.8% from 2.6% previously.On the corporate front, SoftwareOne (SWON.SW) shares closed the session 9.30% higher as it booked a year-over-year surge in first-quarter revenue to 387.7 million francs from 231.6 million francs, with the integration of acquired company Crayon progressing as planned. Looking ahead, the Swiss software and cloud technology group raised its revenue growth guidance for 2026 to the mid- to high-single digits from the mid-single digits, at constant currency and on a combined like-for-like basis.Laboratory instruments company Tecan Group (TECN.SW) and real estate group PSP Swiss Property (PSPN.SW) also published financial updates.Meanwhile, Deutsche Bank Research reduced its price target for Alcon (ALC.SW) to 70 francs from 77 francs, with a buy rating on the stock, noting that the investment case for the Swiss eye care products group is still intact after "solid" first-quarter results. The stock was 2.89% in the green at closing."Although the top line did not meet buy-side expectations, the performance should be sufficient to deliver on full-year guidance ... The company also initiated a new $1.5 billion share buyback program, and its many recent product launches are ramping up well, set to contribute more meaningfully in the coming quarters. Consequently, we view the harsh share price reaction following the results as overdone," the research firm said. "While it may take some time for market sentiment to settle, we expect the stock to recover, and our reduced target price still offers 40% upside potential."

^SSMI$ALC.SW$PSPN.SW$SWON.SW$TECN.SW

Asia Markets42d ago

DAX Index Blinks Red as German Inflation Accelerates

German equities were downbeat on Tuesday, with the blue-chip DAX index ending the trading session 1.62% in the red, as the market assessed fresh inflation data and the economic sentiment survey from the eurozone's biggest economy against the tenuous Iran war ceasefire.Final data from Destatis confirmed that the annual inflation rate in Germany climbed to 2.9% in April from 2.7% in March. The annual core inflation rate, which excludes food and energy prices, eased to 2.3% from 2.5%."Overall inflation increased for the second consecutive month as a result of another rise in energy prices that was due to the Iran war. Consumers are particularly feeling the persistent price pressure regarding motor fuels," Federal Statistical Office President Ruth Brand said.Meanwhile, the ZEW economic sentiment indicator for Germany rose to -10.2 points in May from April's -17.2 points, beating the consensus forecast of -19.2 points. However, the current situation index fell by 4.1 points to -77.8 points, against the expected -77.5 points. ZEW President Achim Wambach said there is "cautious hope" for a possible recovery in the latter half of 2026, contingent on a de-escalation in the Middle East and a positive impact from the government's economic stimulus efforts.On the geopolitical front, US President Donald Trump described the ceasefire with Iran as "on life support" after rejecting Tehran's counteroffer. Against this backdrop, Danske Bank said Brent crude remained on an upward trajectory, trading at around $105 per barrel on Tuesday morning.Amid a busy session for corporate earnings and trading updates, Bayer (BAYN.F) was the top blue-chip stock, gaining 3.67%, after reiterating its full-year 2026 currency-adjusted outlook following a strong first quarter, during which net income more than doubled to 2.76 billion euros from 1.30 billion euros a year earlier.Meanwhile, Munich Re (MUV2.F) shed 6.09%, dropping to the bottom of the DAX index, as investors focused on the reinsurer's planned volume reductions during the April renewals amid softer pricing, overshadowing its solid first-quarter results."Munich Re is doubtless showing discipline on price to preserve margins and current returns are strong but consensus FY top-line expectations on first view look too high. Key questions are whether EUR64bn FY Reinsurance revenue target, unchanged today, is achievable vs EUR60bn Q1 run-rate, with consensus already below at EUR62.4bn, and the degree to which [property-casualty reinsurance and global specialty insurance] margins can be maintained into 2027 and beyond," RBC Capital Markets wrote in a quick-take note.

^DAX$BAYN.F$MUV2.F

Asia Markets42d ago

UK Shares Flat Amid Growing Political Uncertainty; Intertek Shines

British equities were little changed on Tuesday, with the FTSE 100 down 0.04% at closing, as political uncertainty surrounding Prime Minister Keir Starmer and fresh signs of weakness in the retail sector weighed on sentiment.Four ministers have resigned from the government, adding to concerns over instability within the Labour administration and fueling speculation about Starmer's leadership."A growing rebellion against UK Prime Minister Keir Starmer staying on as Prime Minister could force him to resign and generate significant policy uncertainty. A ballot of grassroots Labour party members would decide his replacement, risking a leftward pivot in policy and a lesser commitment to fiscal consolidation. This would likely put downward pressure on UK asset prices in the near term," Berenberg Senior UK Economist Andrew Wishart said.Across the UK's retail sector, sales dropped 3.4% year over year on a like-for-like basis in April 2026, against the 3.1% rise in the previous month, according to data from the British Retail Consortium. The reading, which missed market expectations of a 0.8% increase, marked the first fall in retail activity since November 2024."April's sales fall was largely driven by the Easter shift, with food hit hardest. But weak consumer confidence also played a role as fears about the Middle East conflict driving up living costs led shoppers to rein in. Big-ticket purchases fell, with the recent recovery in furniture losing steam, and uncertainty around summer holidays hitting discretionary spend. With the World Cup coming, retailers hope it will provide a lift, and early signs show demand for TVs and sound systems picking up," BRC Senior Analyst Ian Bendelow said.In corporate news, telecommunications company Vodafone (VOD.L) said its loss attributable to owners of the parent for the 12 months ended March 31 shrank to 397 million euros from 4.17 billion euros year over year amid an increase in revenue. Vodafone was down 7.02%, becoming the blue-chip index's worst performer.On the upside, Intertek Group (ITRK.L) was the top stock, rising 6.43%, after receiving a fourth and final proposal from Swedish private equity giant EQT of 60 pounds sterling per share in cash plus Intertek's planned 2025 final dividend of up to 1.077 pounds per share. The British assurance, testing, and certification company's board rejected EQT's previous offer of 58 pounds per share in cash."ITRK's shares have not been above GBP60 since Q221 and have materially lagged key benchmarks and peers until recently," RBC Capital Markets said. "We see EQT's bid as a fair balance between compensating ITRK shareholders for future upside potential (whilst there is no guarantee that the current Board can deliver seamless upside), and creating a cushion of safety for EQT as it likely plans to prepare ITRK for the next stage on it strategic journey."

FTSE 100$ITRK.L$VOD.L

Asia Markets42d ago

European Stocks Fall in Tuesday Trading; German Inflation Rises

European stock markets fell in late Tuesday trading as oil prices rose after negotiations between the US and Iran stalled again.The Stoxx Europe 600 fell 1%, Germany's DAX 40 declined 1.5%, the FTSE 100 eased 0.2%, France's CAC 40 shed 1%, and the Swiss Market Index rose 0.1%.In Germany, inflation as measured by the consumer price index rose 2.9% in April from a year earlier, according to the Federal Statistical Office (Destatis), marking the highest since January 2024. Prices rose by 0.6% from March."The renewed rise in energy prices as a result of the Iran war has increased overall inflation for the second month in a row," Destatis President Ruth Brand said in a statement.In corporate news, Novo Nordisk said a higher dose of Wegovy helped people with obesity lose "significant amounts" of weight irrespective of how quickly their body responds to the treatment, based on a new sub-analysis from a clinical trial.Shares of the Danish pharmaceutical company fell 1.2% in Copenhagen.Vodafone Group reported fiscal Q4 operating profit of 199 million euros ($233.8 million), swinging from a loss of 3.82 billion euros a year earlier.Shares of the British telecommunications operator fell 8% in London.Shell plans to divest its gasoline station network in France, according to a Google translation of a Monday report from French newspaper Les Echos.Shares of Shell were up 1% in London.AstraZeneca said phase 3 trial results showed that its investigational drug eneboparatide significantly normalized serum calcium and achieved independence from active vitamin D and oral calcium supplements in adults with hypoparathyroidism.Shares of the British pharmaceutical company rose 1.5% in London.Nokia introduced new agentic artificial intelligence capabilities for its fixed network product lines to improve operational efficiency for home and broadband networks.Shares of the Finnish telecommunications company fell 3% in Helsinki.

Asia Markets42d ago

European Equities Traded in the US as American Depositary Receipts Decline Sharply in Tuesday Trading

European equities traded in the US as American depositary receipts were down significantly late Tuesday morning, dropping 1.05% to 1,814.06 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biopharmaceutical company Cellectis (CLLS) and 3D printer company Materialise (MTLS), which advanced 7.5% and 3.1% respectively. They were followed by biopharmaceutical company DBV Technologies (DBVT) and internet advertising firm Criteo (CRTO), which were up 1.5% and 1% respectively.The decliners from continental Europe were led by accommodations booking site trivago (TRVG) and telecommunications company Nokia (NOK), which fell 5.2% and 4.3% respectively. They were followed by internet browser company Opera (OPRA) and semiconductor company Sequans Communications (SQNS), which dropped 1.9% and 1.8% respectively.The gainers from the UK were led by cruise line operator Carnival (CUK) and tobacco company British American Tobacco (BTI), which climbed 6.6% and 2.4% respectively. They were followed by pharmaceutical company GSK (GSK) and biopharmaceutical company Mereo BioPharma Group (MREO), which rose 2% and 1.1% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Akari Therapeutics (AKTX) and telecommunications operator Vodafone Group (VOD), which fell 22% and 8.4% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and lender Lloyds Banking Group (LYG), which lost 5.2% and 3.7% respectively.

$AKTX$BTI$CLLS$CRTO$CUK$DBVT$GSK$LYG$MREO$MTLS$NOK$OPRA$SLN$SQNS$TRVG$VOD

Asia Markets42d ago

Asian Equities Traded in the US as American Depositary Receipts Fall Sharply in Tuesday Trading

Asian equities traded in the US as American depositary receipts were trending sharply lower Tuesday morning, falling 0.95% to 2,830.82 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by education company 17 Education & Technology Group (YQ) and real estate management and digital security firm Eason Technology (DXF), which surged 11% and 9.6%, respectively. They were followed by healthcare platform 111 (YI) and casino and resort operator Melco Resorts & Entertainment (MLCO), which advanced 4% and 3.2%, respectively.The decliners from North Asia were led by game live-streaming service HUYA (HUYA) and semiconductor company Himax Technologies (HIMX), which dropped 7.5% and 7%, respectively. They were followed by utilities company Korea Electric Power (KEP) and tech company Xunlei (XNET), which lost 5.1% and 4.8%, respectively.From South Asia, the only gainers were fintech firm Trident Digital Tech (TDTH) and tech conglomerate Sea (SE), which rose 12% and 11%, respectively.The decliners from South Asia were led by pharmaceutical company Dr. Reddy's Laboratories (RDY) and IT firm Wipro (WIT), which fell 5.6% and 2.3%, respectively. They were followed by computer hardware maker Canaan (CAN) and IT firm Infosys (INFY), which were down 2.2% and 2%, respectively.

$CAN$DXF$HIMX$HUYA$INFY$KEP$MLCO$RDY$SE$TDTH$WIT$XNET$YI$YQ

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Asia Markets42d ago

US Equity Indexes Mixed as Hot Inflation Print Hits Technology, Iran Deadlock Continues

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