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Asian Equities Traded in the US as American Depositary Receipts Open Week Higher in Monday Trading

Asian equities traded in the US as American depositary receipts opened the week tracking higher Monday morning, rising 0.80% to 2,811.45 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by diagnostic imaging centers company Concord Medical Services (CCM) and Friends (JF), which rose 20% and 3.3% respectively. They were followed by mobile big data platform Aurora Mobile (JG) and tech company Xunlei (XNET), which were up 2.9% and 2.4%, respectively.The decliners from North Asia were led by travel company Tuniu (TOUR) and semiconductor company Himax Technologies (HIMX), which fell 6.6% and 5%, respectively. They were followed by media company Phoenix New Media (FENG) and brand platform 36Kr (KRKR), which were down 4.8% and 1.6%, respectively.From South Asia, the gainers were led by computer hardware maker Canaan (CAN) and telecommunications operator Telekomunikasi Indonesia (TLK), which advanced 3.4% and 1.6%, respectively. They were followed by lenders ICICI Bank (IBN) and HDFC Bank (HDB), which increased 0.3% and 0.2%, respectively.The decliners from South Asia were led by tech company Trident Digital Tech (TDTH) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which dropped 2.9% and 1.4%, respectively. They were followed by IT firm Infosys (INFY) and tech conglomerate Sea (SE), which lost 0.1% each.

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US Equity Futures Slip Pre-Bell as Middle East Conflict Enters Third Month, Oil Prices Rise

US equity futures were marginally lower pre-bell Monday as the standoff in the Strait of Hormuz continued, with the Iran-US conflict reaching its third month and traders noting the increase in oil prices.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.1% higher.President Donald Trump said Sunday that the US would help guide vessels stranded in the Persian Gulf due to the conflict, and Iran responded by warning US forces not to enter the Strait of Hormuz.A US warship was turned away from entering the waterway after being hit by two missiles fired by Iran's navy near the port of Jask, according to Iran's Fars news agency, but a senior US official denied the report, Axios said.Among the companies expected to report quarterly earnings this week are Palantir Technologies (PLTR), Advanced Micro Devices (AMD), HSBC (HSBC), Arm (ARM), Shell (SHEL), and McDonald's (MCD).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2% at $110.31 per barrel and US West Texas Intermediate crude 0.8% higher at $102.72 per barrel.March factory orders, due at 10 am ET, are expected to have gained 0.6%, compared with no change previously, according to estimates compiled by Bloomberg.New York Federal Reserve President John Williams is due to speak today.In other world markets, Japan's Nikkei, China's Shanghai Composite, and the UK's FTSE 100 were all closed due to public holidays. Hong Kong's Hang Seng ended 1.2% higher. Germany's DAX index was flat in Europe's early afternoon session.In equities, Alibaba (BABA) shares rose 2% after Chinese robotics startup Linkerbot, which is backed by Alibaba unit Ant Group, said it will seek a $6 billion valuation in its next funding round, according to a Reuters report. EBay (EBAY) stock was 7.5% higher after GameStop (GME) said it submitted a non-binding proposal to acquire all outstanding shares of eBay for $125 each. Tyson Foods (TSN) shares were up 1.6% after the company reported fiscal Q2 adjusted earnings and sales that surpassed analysts' consensus.On the losing side, Norwegian Cruise Line (NCLH) stock was down 5.9% after the company issued lower-than-expected Q2 adjusted earnings guidance and trimmed its 2026 adjusted EPS outlook.

Tadawul Shares End Monday Lower Amid Middle Eastern Geopolitical Tensions

Saudi Exchange-traded shares closed lower as the renewed geopolitical tensions between the US and Iran pushed the Tadawul All Share Index to 0.91% in the red on Monday.A US warship was reportedly struck by missiles at the Strait of Hormuz, Reuters reported, citing Iran's semi-official Fars news agency. The attacks came after US President Donald Trump disclosed a plan to support stuck vessels in the strait.However, an undisclosed senior official from the US denied reports about the vessel being attacked, Axios reported. Citing the same official, the US will reportedly conduct military action against the Middle nation if it does not submit an "achievable" peace deal.Back at home, Eastern Province Cement (SASE:3080) ended the session 4.98% higher as SNB Capital had an overweight rating on its stock with a price target of 29 Saudi riyals after it released its first quarter results on Sunday."Eastern Cement reported a better than expected set of Q1 26 results with a net income increasing by 16.1% yoy (+75.6% qoq) to SAR72.0mn. This is higher than the SNB Capital and consensus estimates of SAR48.6mn and SAR41.5mn, respectively. We believe the variance in net income was driven by 1) higher than expected revenues which increased by 18.4% yoy (flat qoq) to SAR354mn vs our estimates of SAR320mn mainly due to higher blended average selling prices and 2) lower than expected opex which stood at SAR19.0mn (-5.1% yoy, -9.5% qoq) vs our estimate of SAR22.2mn," SNB Capital said in a note.Meanwhile, Saudi Investment Bank (SASE:1030) concluded its Tier 1 capital sukuk offering worth 1.85 billion Saudi riyals. The offer issued 1,850 sukuk with a par value of 1 million riyals each. Shares of the lender closed 1.19% lower.

^TASISASE:1030SASE:3080

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Emirati Equities Gain Amid Key Economic Data Focus; Adnoc Drilling Soars

Shares in the United Arab Emirates kicked off the week higher as the FTSE ADX General Index added 0.320%, while the DFM General Index gained 0.226% at the close of Monday trading.Investors will await the release of the UAE's S&P Global PMI data for April on Tuesday to get insights into the country's non-oil private sector activity. The metric dropped to 52.9 in March from 55 in February.On the oil front, OPEC+ agreed to raise oil output in June by 188,000 barrels per day following the UAE's exit from the group and amid supply disruptions caused by the continued closure of the Strait of Hormuz."The exit of OPEC's third-largest producer substantially weakens the organisation and raises questions over its survival as an effective cartel. As the UAE increases output outside OPEC, the group's share of global supply will decline, reducing its ability to manage prices. If the UAE successfully raises output and revenue outside the cartel, it could also undermine the value of membership for other producers with large reserves or ambitions to raise output, such as Venezuela," Oxford Economics said in a note.On the corporate side, Adnoc Drilling (ADX:ADNOCDRILL) was the Abu Dhabi bourse's most traded by value and closed the session at 9.17% in the green. The offshore drilling company concluded the purchase of an 80% stake in the drilling and oilfield services joint venture MB Petroleum Services.Dubai-listed Parkin Co. (DFM:PARKIN) secured a multi-year parking enforcement services deal from Emaar Properties (DFM:EMAAR) unit Emaar Mall Management. Parkin's stocks ended 1.54% lower while Emaar Properties closed the session 1.70% higher.On the geopolitical front, US President Donald Trump launched "Project Freedom" to guide ships and crews safely out of the Strait of Hormuz, while also adding that his representatives are having "very positive" discussions with Iran."After a volatile week, the oil market is steadier as the market digests President Trump's plan to get vessels through the Strait of Hormuz," ING said. "Reports indicate that, for now, the plan won't involve the US Navy escorting vessels. Even if this allows vessels to leave the Persian Gulf, we're likely to see little inbound traffic. This would only amount to temporary relief, as floating storage leaves the Persian Gulf.

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US Equity Investors to Focus on Risk of Iran Ceasefire Falling Apart, Quarterly Earnings, Nonfarm Payrolls

US equity investors will look out for Iran ending its ceasefire agreement with Washington if the US military escorts ships stranded in the Strait of Hormuz, while focusing on mega-cap quarterly earnings and labor market data this week.* An Iranian official warned the US will be attacked if it tries to approach or enter the Strait of Hormuz, after President Donald Trump said the US military will begin guiding stranded ships through the chokepoint on Monday, CNN reported. US Central Command said it would support the effort with 15,000 military personnel, more than 100 land and sea-based aircraft, warships, and drones, Reuters reported.* Concurrently, Trump reported "very positive discussions" with Iran, according to CNN. The Iranian Foreign Ministry is reviewing the US' reply to Tehran's latest peace proposal, CNN reported, citing the ministry.* Meanwhile, West Texas Intermediate crude oil futures rose 1.3% to $103.27, and Brent crude futures climbed 1.3% to $109.62 early Monday. Most US Treasury yields also advanced, with the 10-year up two basis points to 4.4% and the two-year higher by 2.3 basis points to 3.91%.* Quarterly earnings due this week include Palantir Technologies (PLTR), Advanced Micro Devices (AMD), Arista Networks (ANET), Arm Holdings (ARM), Uber Technologies (UBER), Applovin (APP), Shell (SHEL), McDonald's (MCD), and Walt Disney (DIS).* Macroeconomic data due this week include nonfarm payrolls, JOLTS job openings, ADP private payrolls, Challenger job cuts, ISM services PMI, and the University of Michigan's preliminary consumer sentiment and inflation expectations.* Europe will respond should Trump follow through on his threat to raise tariffs on cars and trucks from the European Union to 25%, Eurogroup President Kyriakos Pierrakakis told Bloomberg. "The number one choice is always dialogue," he said. "If there is a deviation from what we have agreed upon, obviously all options are on the table and all choices will be on the table."

Asia Markets51d ago

Tadawul Shares Start Week Flat as Corporate Earnings Roll In, OPEC+ Focus

The Tadawul All Share Index started the week subdued at 0.05% in the green on Sunday as investors focused on OPEC+'s next crude output policy after the United Arab Emirates' exit from the group.The seven members of the OPEC+ agreed to raise crude production in June by 188,000 barrels per day, with the group continuing to monitor market conditions for market stability. Saudi Arabia, the de facto leader of the group, will be required to produce 10.3 million barrels per day for the month.In other news, US President Donald Trump warned of the potential resumption of military strikes if Iran "misbehaves". On the Iranian side, Foreign Minister Seyed Abbas Araghchi said that it is open to diplomatic talks as long as the US switches its approach.Back at home, Arabian Centres Co. (SASE:4321), d/b/a/ Cenomi Centers, and Umm Al Qura for Development and Construction (SASE:4325) posted lower results for the first quarter of 2026. Meanwhile, SAL Saudi Logistics Services (SASE:4263) logged a 2.297% and 16.072% increase in net profit and revenue, respectively."Net profit increased by 2.3% compared to the same quarter last year, reaching SAR 156.6 million versus SAR 153.1 million. This increase was mainly driven by the growth in revenue from the Cargo Ground Handling Division, along with the Company's continued focus on enhancing operational efficiency, improving business agility, and optimizing costs, reflecting the overall resilience of its performance," SAL Saudi Logistics Services said in its report.SAL Saudi Logistics Services and Cenomi Centers ticked up at 0.30% and 1.99% at closing, while Umm Al Qura for Development closed 0.99% lower.Looking ahead to the week, the economic calendar will see the release of Saudi Arabia's April edition of the Riyad Bank Purchasing Managers' Index on Tuesday, and the April unemployment figures of the US on Friday.

^TASISASE:4263SASE:4321SASE:4325

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US Equity Indexes Scale New Peaks This Week Amid Lift From Mega-Cap Earnings, Crude Oil

US equity indexes jumped this week as communications services and energy topped sector charts in a broad-based rally, reflecting the positive impact of mega-cap earnings and crude oil.* The S&P 500 closed at 7,230.12 on Friday versus 7,153.06 a week ago. The Nasdaq Composite stood at about 25,114.44, compared with 24,774.11 a week earlier. The Dow Jones Industrial Average ended at 49,499.27, versus 49,153.47 at the end of last week.* All but one sector, basic materials, rose this week. The top five sectors included financials, consumer defensive, and real estate, which shows a broadening of leadership to value-oriented areas.* Three Magnificent-7 stocks ended the week lower -- Meta Platforms (META), Nvidia (NVDA), and Microsoft (MSFT), according to data compiled by Finviz. Of the remaining four mega-caps, Alphabet (GOOG, GOOGL) led the pack with a gain of almost 12%. Except for Nvidia, all Mag-7 companies have so far reported quarterly results, with four of the six firms trading higher this week.* Among companies with a market capitalization of more than $200 billion, the top gainer was Intel (INTC), whose strong quarterly results translated into a weekly gain of almost 21%.* Brent crude oil futures soared to a four-year high this week before retreating, and West Texas Intermediate futures remained above the psychologically important $100 mark.* On Friday, Iran handed Washington a new proposal for ending the war, offering hints of compromise, The Wall Street Journal reported. The two sides remain far apart, however, on substantive issues of reopening the Strait of Hormuz and Iran's nuclear program, people familiar with the matter told the WSJ.* "They want to make a deal but I'm not satisfied with it," Trump told reporters at the White House Friday, according to Bloomberg. "We just had a conversation with Iran. Let's see what happens. But I would say that I am not happy."

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Exchange-Traded Funds Advance as US Equities Rise After Midday Friday

Broad Market IndicatorsBroad-market exchange-traded fund IWM and IVV were higher. Actively traded Invesco QQQ Trust (QQQ) edged up 1%.US equity indexes rose after midday Friday, with technology and consumer discretionary helping push the S&P 500 and Nasdaq Composite to record highs, while crude oil futures slumped.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each shed about 1.5%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was up 1.4%; iShares US Technology ETF (IYW) rose 1.3%, and iShares Expanded Tech Sector ETF (IGM) gained 1.3%.The State Street SPDR S&P Semiconductor (XSD) climbed 1%, and iShares Semiconductor (SOXX) was up 0.5%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) rose 0.2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), lost 0.3%.CommoditiesCrude oil fell 2.6%, and the United States Oil Fund (USO) slipped 3.1%. Natural gas rose fractionally, and the United States Natural Gas Fund (UNG) added 0.3%.Gold on Comex added 0.4%, and the State Street SPDR Gold Shares (GLD) gained 0.5%. Silver rose 3%, and iShares Silver Trust (SLV) was up 3.1%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) fell 0.3%. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) also declined.The State Street Consumer Discretionary Select Sector SPDR (XLY) gained 0.6%. VanEck Retail ETF (RTH) dipped 0.1%, and the State Street SPDR S&P Retail (XRT) was down 0.7%.Health CareThe State Street Health Care Select Sector SPDR (XLV) fell 0.3%, iShares US Healthcare (IYH) shed 0.2%, and Vanguard Health Care ETF (VHT) was 0.2% lower. IShares Biotechnology ETF (IBB) dipped 1%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) fell 0.7%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) added 2.4%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 2.7%, ProShares Ether ETF (EETH) gained 2.2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 2.4% higher.

European Markets Quiet on May Day, FTSE Edges Lower; UK Manufacturing Reaches Near 4-Year High

Major European stock markets were closed for May Day Friday, except for the FTSE 100, which was edging 0.1% lower.In the UK, the seasonally adjusted S&P Global UK Manufacturing Purchasing Managers' Index rose to 53.7 in April, which is its highest reading since May 2022.Meanwhile, the average house price in the UK rose 3% on an annual basis in April to 278,880 British pounds, according to the Nationwide House Price Index.In corporate news, Aon reported Q1 adjusted earnings Friday of $6.48 per diluted share, up from $5.67 a year earlier. Analysts polled by FactSet expected $6.37.Revenue for the quarter ended March 31 was $5.03 billion, compared with $4.73 billion a year earlier. Analysts polled by FactSet expected $4.97 billion.The company said it's reaffirming its 2026 guidance of mid-single-digit or greater organic revenue growth and "strong" adjusted EPS growth.Shares of Aon were up 3.5% in London.GSK's Linerixibat, to be marketed as Lynavoy, has been approved by the UK's Medicines and Healthcare products Regulatory Agency for the treatment of itching in adults with primary biliary cholangitis, the agency said Friday.The oral therapy aims to reduce bile acid buildup linked to the rare liver disease, which can cause persistent itching, the agency said.Shares of GSK were declining 1.5% in London.AstraZeneca said Thursday that the US Food and Drug Administration's Oncologic Drugs Advisory Committee has recognized a favorable benefit risk profile for Truqap in combination with abiraterone and androgen deprivation therapy for the treatment of patients with prostate cancer.The specific indication is for PTEN-deficient metastatic hormone-sensitive prostate cancer, the company said. The committee voted 7 to 1, with one member abstaining, AstraZeneca said.Shares of the British pharmaceutical company were falling close to 3% in London.Novo Nordisk said Friday it has rebranded its oral semaglutide medication for type 2 diabetes, formerly known as Rybelsus, as Ozempic.Starting Monday, Ozempic 1.5 mg, 4 mg and 9 mg tablets will be available for adults with type 2 diabetes in the US, the company said. Rybelsus was first approved by the FDA in 2019 and offered 3 mg, 7 mg and 14 mg tablets, the company said."The new Ozempic pill works similarly to semaglutide tablets 3 mg, 7 mg, and 14 mg and has the same efficacy and safety profile as the original formulation offered in a smaller pill," Novo Nordisk said.Shares of the Danish pharmaceutical company were up 1.4% in Copenhagen.NatWest reported Q1 earnings Friday of 0.179 British pound ($0.24) per basic share, up from 0.155 pound a year earlier. Analysts polled by FactSet expected 0.169 pound.Total income for the quarter ended March 31, expressed as the sum of net interest income and total noninterest income, was 4.36 billion pounds, up from 3.98 billion pounds a year earlier. Analysts surveyed by FactSet expected 4.30 billion pounds.For 2026, the company now expects income excluding notable items to be at the top end of its previous guidance range of 17.2 billion pounds to 17.6 billion pounds.Shares of the British bank were losing 3.2% in London.

UK's FTSE 100 Closes Lower; NatWest, AstraZeneca Shares Down

London's FTSE 100 concluded the trading week on a downbeat note, closing 0.14% lower on Friday amid a busy day of corporate updates, economic data prints, and private sector data releases.The UK's manufacturing sector remained in the growth territory in April, with the final S&P Global UK Manufacturing PMI reaching a 47-month high of 53.7, against the previous month's 51 and the flash estimate of 53.6. The latest reading, which sits above the neutral 50 threshold for the sixth straight month, is supported by higher output and improved new order intakes."The upturn comes with several of catches, however. Restrictions on transit through the Strait of Hormuz are causing substantial disruptions to input deliveries, with supplier lead times lengthening to the greatest extent in almost four years," said S&P Global Market Intelligence Director Rob Dobson. "It should also be noted that the gain in production is partly the result of clients bringing forward purchases to mitigate expected price uplifts and supply disruptions. As this process unwinds later in the year, alongside declining business optimism, growth in the sector could cool while inflationary pressures remain on high heat."On the housing market front, annual house price growth in the UK climbed to 3% in April from 2.2% in March, according to Nationwide Building Society data, beating the consensus estimate of a 2.2% rise. On a monthly basis, seasonally adjusted house prices were 0.4% higher, marking four consecutive months of growth and exceeding the expected 0.3% decline.In corporate news, NatWest Group's (NWG.L) first-quarter attributable net profit jumped to 1.43 billion pounds sterling from 1.25 billion pounds. The banking group's total impairment provisions stood at 3.74 billion pounds as of March 31, up from the year-ago 3.59 billion pounds, amid increased economic uncertainty due to the Middle East conflict. The group was the biggest loser on the index, shedding 3.35% at closing.AstraZeneca (AZN.L) also saw its shares fall 3.13% after the US Food and Drug Administration's Oncologic Drugs Advisory Committee voted against approving the benefit risk profile of the drugmaker's investigational drug camizestrant combined with a cyclin-dependent kinase 4/6 inhibitor as a first-line treatment for patients with hormone receptor-positive, HER2-negative advanced breast cancer.The London Stock Exchange will be closed on May 4 for the Early May Bank Holiday, with trading to resume the next day.

FTSE 100$AZN.L$NWG.L

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European Equities Traded in the US as American Depositary Receipts Flat in Friday Trading; Gain 1.3% for Week

European equities traded in the US as American depositary receipts were trending marginally higher late Friday morning, rising 0.05% to 1,824.45 on the S&P Europe Select ADR Index, which is up 1.25% for the week so far.From continental Europe, the gainers were led by telecommunications company Nokia (NOK) and pharmaceutical company Novo Nordisk (NVO), which climbed 6.3% and 3.6% respectively. They were followed by biopharmaceutical company Cellectis (CLLS) and consumer goods company Unilever (UL), which advanced 3.3% and 3% respectively.The decliners from continental Europe were led by biotech firm BioNTech (BNTX) and furniture maker Natuzzi (NTZ), which dropped 6% and 3.5% respectively. They were followed by biopharmaceutical company DBV Technologies (DBVT) and petroleum refiner Equinor (EQNR), which lost 3.3% and 2.4% respectively.The gainers from the UK were led by educational publisher Pearson (PSO) and biopharmaceutical company Akari Therapeutics (AKTX), which rose 3.2% and 2.8% respectively. They were followed by biopharmaceutical company Bicycle Therapeutics (BCYC) and cruise line operator Carnival (CUK), which were up 2.7% and 2.5% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Amarin (AMRN) and oil and gas company BP (BP), which fell 2.8% and 1.9% respectively. They were followed by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and oil and gas company Shell (SHEL), which were down 1.4% and 1.2% respectively.

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Asian Equities Traded in the US as American Depositary Receipts Rise Slightly Higher in Friday Trading; End Week on Flat Note

Asian equities traded in the US as American depositary receipts were tracking slightly higher Friday morning, rising 0.21% to 2,809.21 on the S&P Asia 50 ADR Index, which is up only 0.01% for the week.From North Asia, the gainers were led by semiconductor company Silicon Motion Technology (SIMO) and video streaming service iQIYI (IQ), which rose 4.4% and 4.3% respectively. They were followed by video display maker LG Display (LPL) and fintech firm AMTD Digital (HKD), which advanced 3.4% and 2.9% respectively.The decliners from North Asia were led by real estate management firm Eason Technology (DXF) and electric vehicle maker NIO (NIO), which fell 7.1% and 6.8% respectively. They were followed by casino and resort operator Melco Resorts & Entertainment (MLCO) and lender Nomura (NMR), which were down 4.2% and 2.2% respectively.From South Asia, the gainers were led by tech conglomerate Sea (SE) and IT firm Infosys (INFY), which increased 1.5% and 0.6% respectively. They were followed by lender ICICI Bank (IBN) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which were up 0.3% each.The decliners from South Asia were led by IT company Sify Technologies (SIFY) and telecommunications operator PLDT (PHI), which lost 0.5% and 0.3% respectively. They were followed by IT firm Wipro (WIT) and telecommunications operator Telekomunikasi Indonesia (TLK), which were off 0.2% each.

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US Equity Futures Nudge Higher Pre-Bell After S&P 500, Nasdaq Reach New Closing Highs

US equity futures were higher pre-bell Friday after the S&P 500 and Nasdaq Composite reached new closing highs to close out April amid a continued impasse in the Middle East.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were marginally higher.On Thursday, the S&P 500 rose 1% to close at 7,209.01, breaching the 7,200 mark for the first time, while Nasdaq increased 0.9% to close at 24,892.31, also a new closing record.US President Donald Trump has rejected Iran's latest offer, stating that the US naval blockade on the nation's ports will remain until the regime agrees to a deal that addresses US concerns about its nuclear program, according to an Axios report on Wednesday.Traders took note of the latest round of earnings, with energy majors Exxon Mobil (XOM) and Chevron (CVX) both reporting lower Q1 adjusted earnings but higher revenue.Oil prices were mixed, with front-month global benchmark North Sea Brent crude up 0.4% at $110.85 per barrel and US West Texas Intermediate crude 1.2% lower at $103.79 per barrel.The final Purchasing Managers' Manufacturing Index for April, due at 9:45 am ET, is seen coming in at 54.0, unchanged from its prior value, according to estimates compiled by Bloomberg.The April Institute for Supply Management's services index, due at 10 am ET, is projected at 53.2, versus 52.7 previously.In other world markets, Japan's Nikkei, Hong Kong's Hang Seng, China's Shanghai Composite, and Germany's DAX index were all closed due to public holidays. The UK's FTSE 100 was down 0.6% in Europe's early afternoon session.In equities, Roblox (RBLX) stock was down 24% after the company reported a wider Q1 loss and lower-than-expected revenue, as well as lowering its 2026 revenue outlook. Sandisk (SNDK) and Western Digital (WDC) shares dropped 4.6% and 8%, respectively, despite the companies posting fiscal Q3 earnings and revenue that surpassed analysts' consensus.On the winning side, Apple (AAPL) stock was up 3.6% after the company posted higher fiscal Q2 earnings and revenue that also beat analysts' estimates. Reddit (RDDT) shares were up 15% after the company reported higher Q1 earnings and revenue in addition to issuing better-than-expected Q2 revenue guidance.

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UAE Stocks in Green as US-Iran War Risks Resurface

Markets in the United Arab Emirates ended the last trading day of the week on a positive note despite investors adopting a risk-off stance due to renewed fears of escalation between the US and Iran.At the close of Friday trading, the FTSE ADX General Index gained 0.110%, while the DFM General Index ended somewhat muted but 0.014% in the green.Oil prices rose on Friday after multiple media outlets reported that Iran threatened to strike US positions if the latter decided to renew its attacks. A previous report by Axios noted that US President Donald Trump was set to receive a briefing on new military action against Iran."We're heading towards another weekend of potential uncertainty, with Friday, 1 May, seen in the minds of many as something of a key day by which some move needs to happen between the US and Iran with respect to a deal of sorts. Hope is fading on this, which risks seeing the pendulum swinging back in the direction of a resumed kinetic outcome. That would not be great for markets, which would prefer a quick reopening of the Strait, even on a bad deal," ING said.As of 3:21 pm UAE time, the Brent crude oil futures stood at nearly $110.89 per barrel, up 0.44% from the previous day.Zooming in at home, the UAE Central Bank launched a service for non-resident visitors to open digital bank accounts using their tourist identity. The initiative was launched in collaboration with the Federal Authority for Identity, Citizenship, Customs and Port Security and Abu Dhabi Commercial Bank (ADX:ADCB).Over to corporates, Pure Health (ADX:PUREHEALTH) reported a decline in its first-quarter attributable profit. Shares of the Abu Dhabi-listed healthcare services company closed the session 0.47% in the green.Elsewhere, Dubai Financial Market's (DFM:DFM) attributable profit for the same quarter jumped to 177.7 million Emirati dirhams backed by a 36% year-over-year growth in revenue. The stock exchange operator's shares ended 0.70% higher at trading's close.Looking ahead to next week, the local economic calendar will see the release of the country's S&P Global Purchasing Managers' Index report for April. The indicator fell to 52.9 in March.

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Exchange-Traded Funds Higher as US Equities Advance After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM and IVV rose. Actively traded Invesco QQQ Trust (QQQ) edged up 0.4%.US equity indexes were higher after midday Thursday as investors weighed mega-cap corporate earnings and a warning from Iran's new supreme leader that Tehran won't give up its nuclear stockpile.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 0.8%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was down 0.4%; iShares US Technology ETF (IYW) rose 0.6%, and iShares Expanded Tech Sector ETF (IGM) gained 0.5%.The State Street SPDR S&P Semiconductor (XSD) climbed 3.7%, and iShares Semiconductor (SOXX) was up 1.9%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 0.3%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), lost 0.4%.CommoditiesCrude oil fell over 2%, and the United States Oil Fund (USO) lost 3%. Natural gas was up 4%, and the United States Natural Gas Fund (UNG) rose 4.2%.Gold on Comex added 1.4%, and the State Street SPDR Gold Shares (GLD) advanced 1.6%. Silver rose 2.3%, and iShares Silver Trust (SLV) was up 2.6%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 1.4%. The Vanguard Consumer Staples ETF (VDC) added 1.5%, and iShares Dow Jones US Consumer Goods (IYK) was 0.9% higher.The State Street Consumer Discretionary Select Sector SPDR (XLY) rose 0.4%. VanEck Retail ETF (RTH) added 0.5%, and the State Street SPDR S&P Retail (XRT) was up 1.9%.Health CareThe State Street Health Care Select Sector SPDR (XLV) rose 2.3%, iShares US Healthcare (IYH) added 2.3%, and Vanguard Health Care ETF (VHT) was 2.2% higher. IShares Biotechnology ETF (IBB) gained 2%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 2.4%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) added 0.8%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 1%, ProShares Ether ETF (EETH) gained 1.2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.

European Stocks Track Sharply Higher in Thursday Trading; Euro Area Inflation Rises

The European stock markets were tracking sharply higher in Thursday trading as The Stoxx Europe was rising 1.3%, Germany's DAX was also up 1.3%, the FTSE 100 was climbing 1.5%, the Swiss Market Index increased 0.7%, and France's CAC was advancing 0.5%.Euro area annual inflation is expected to be 3.0% in April, up from 2.6% in March, according to a flash estimate from Eurostat, the statistical office of the European Union.Among the main components of inflation, energy prices rose at the fastest annual rate in April at 10.9%, more than doubling the 5.1% reported in March.Seasonally adjusted GDP increased 0.1% in Q1 in both the euro area and the EU, compared with the previous quarter, according to Eurostat. This is compared with 0.2% growth in Q4 for both the euro area and the EU.Compared with a year earlier, seasonally adjusted GDP grew 0.8% in the euro area and 1.0% in the EU in Q1, following growth of 1.3% in the euro area and 1.4% in the EU the previous quarter.And in corporate news, Unilever reported Q1 turnover Thursday of 12.6 billion euros ($14.72 billion), down 3.3% from a year earlier. Underlying sales for the quarter grew 3.8%, the company added.Unilever expects 2026 underlying sales growth to be at the lower end of its multi-year guidance range of 4% to 6%, according to the statement.Shares of the consumer goods giant were trading close to 2% higher in London.Banco Bilbao Vizcaya Argentaria reported Q1 adjusted earnings Thursday of 0.51 euro ($0.60) per diluted share, up from 0.45 euro a year earlier.Two analysts polled by FactSet expected 0.48 euro.Gross income for the quarter ended March 31 was 10.65 billion euros, up from 9.32 billion euros a year earlier.Shares of the Spanish bank were rising 1.7% in Madrid.ING Groep reported Q1 earnings Thursday of 0.54 euros ($0.63) per share, up from 0.47 euros a year earlier. Four analysts polled by FactSet expected 0.49 euros.Total income for the quarter ended March 31 was 5.82 billion euros, compared with 5.64 billion euros a year earlier. Analysts surveyed by FactSet expected 5.86 billion euros.For 2026, the lender said it continues to expect total income of 24 billion euros.Analysts polled by FactSet expect 24.21 billion euros.The company also approved a new 1 billion euros share buyback program.Shares of ING were advancing close to 4% in Amsterdam.Stellantis reported Q1 adjusted earnings Thursday of $0.21 per diluted share, up from $0.04 a year earlier. Analysts polled by FactSet expected $0.19.Net revenue for the quarter ended March 31 was $38.13 billion, compared with $35.81 billion a year earlier. Four analysts surveyed by FactSet expected $44.95 billion.For 2026, the company expects net revenue growth of mid-single digit percentage. Analysts polled by FactSet expect $188.42 billion.Shares of the automaker were down more than 6% in Paris.TotalEnergies and partner Nextnorth have reached financial close and broke ground on a 440 MWp solar power plant in Ilagan, the Philippines, the companies said Thursday.The project, which is 65% owned by TotalEnergies, is expected to be operational by the end of 2027, producing 13.5 TWh over 20 years.The companies said that more than 50% of the project's power will be sold under long-term offtake deals with AdventEnergy and PrimeRES, while the rest will be sold to the national grid.Shares of the French oil and gas company were up 1.4% in Paris.

Swiss Stocks Recover as ECB, BoE Rate Decisions Take Spotlight

The Swiss Market Index bounced back to positive territory on Thursday, closing 0.80% higher, ahead of the Labor Day holiday as investors turned their attention to the latest economic data prints and key monetary policy decisions in Europe.Switzerland's KOF Economic Barometer climbed to 97.9 points in April from the revised 95.6 points in the previous month."After the considerable drop in the previous month, it continues to remain below its medium-term average. The outlook for the Swiss economy remains muted, despite this month's increase," the KOF Swiss Economic Institute said. "Among the indicator bundles included in the Economic Barometer, the indicators for manufacturing, for other services and for private consumption show particularly positive developments."Elsewhere and on the regulatory front, the European Central Bank left its three benchmark interest rates unchanged, as expected. In the UK, the Bank of England also maintained its bank rate at 3.75%, after its monetary policy committee voted 8-1 in favor of a hold. Both central banks cautioned that the Middle East conflict continues to pose upside risks to inflation due to higher energy prices."All in all, the main take-away from today's ECB meeting can probably be described as another hawkish shift, introducing a clear hiking bias to its wait-and-see stance. It's still hard to see that the ECB would really want to fight an exogenous supply shock at the cost of worsening an economic downturn. However, a rate hike, be it symbolic or even a policy mistake, at the June meeting has clearly become more likely today," ING said. The research firm also expects the BoE to carry out a "one and done" rate increase in June.Over to corporates, OC Oerlikon's (OERL.SW) order intake and sales grew 17.9% and 5.3% year over year, respectively, to 455 million francs and 378 million francs in the first quarter, both at constant currency. The Swiss surface technologies and advanced materials company's shares added 4.43% at closing.Swiss drugmaker Novartis (NOVN.SW) also saw its shares rise 2.26% after announcing plans to open a new facility in the US state of North Carolina to manufacture active pharmaceutical ingredients for solid dosage tablets, capsules and RNA therapeutics. The facility is part of the company's wider $23 billion investment plan in the US to boost production capacity.The SIX Swiss Exchange is set to reopen on May 4.

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Germany's DAX Index Rebounds as ECB Holds Rates

The German blue-chip DAX index recovered, closing 1.41% higher on Thursday, as investors digested the European Central Bank's latest policy decision alongside a flurry of corporate updates and economic data.In a widely expected move, the ECB kept its key interest rates unchanged as the euro area's inflation rate hovers near the central bank's 2% medium-term target. The central bank's Governing Council also reiterated its data-dependent approach to rate decisions, noting continued uncertainty amid ongoing global trade disputes and geopolitical tensions."There remains a sense of calm confidence, with references to the resilience of the economy in recent quarters and longer-term inflation expectations remaining well-anchored. But there is also a sense of rising concern the longer the conflict in the Middle East continues," Deutsche Bank Chief European Economist Mark Wall said. "Overall, this is a statement that does not pre-commit the ECB to hiking in June. But it does not stop the ECB from hiking in June either."In other economic news, provisional data from Destatis showed that Germany's gross domestic product ticked up 0.3% in the first quarter from a revised 0.2% increase in the previous three-month period, surpassing the consensus estimate from Investing.com of 0.1%"Details will only be released in a few weeks, but according to the statistical office's press release, GDP growth was driven by stronger private and public consumption as well as stronger exports. A note of caution: as this flash estimate does not include any hard data for March, a downward revision of today's data cannot be excluded," ING wrote, adding that the German economy is "defying the adverse impact of the war in the Middle East, for now at least."On the corporate front, BASF (BAS.F) was up 1.28%, as mwb Research noted that the chemicals group's first-quarter beat obscures "underlying weakness." BASF delivered sales of 16.02 billion euros and adjusted EBITDA of 2.36 billion euros, both coming in ahead of consensus estimates at 15.9 billion euros and 2.19 billion euros, respectively, despite year-over-year declines."BASF delivered a modest Q1 beat on adj. EBITDA, but the quality remains weak, driven primarily by volume growth (notably from China and the Zhanjiang ramp-up) rather than underlying demand, with continued pricing pressure (-4.8% ex-metals) and FX headwinds weighing on profitability, especially in upstream segments," mwb said.Meanwhile, Deutsche Post (DHL.F), d/b/a DHL Group, reported a higher-than-expected first-quarter group EBIT of 1.48 billion euros, up 8.3% year over year and 7.5% ahead of company-compiled consensus, according to Bernstein. The logistics group rose to the top spot, climbing 7.51% at closing.Trading venues Xetra and Börse Frankfurt will be closed on Friday for Labor Day.

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