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US Equity Futures Rise Pre-Bell After S&P 500, Nasdaq Set New Highs Amid US-China Meeting

US equity futures were rising pre-bell Thursday as technology stocks drove new record highs for the S&P 500 and the Nasdaq Composite while traders kept a close eye on the high-stakes meeting between US President Donald Trump and Chinese leader Xi Jinping.Dow Jones Industrial Average futures were 0.8% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.3% higher.On Wednesday, the S&P 500 advanced nearly 0.6% to close at 7,444.25, while the Nasdaq Composite rose 1.2% to end at 26,402.34, with both setting new closing records. Cisco Systems (CSCO) shares were up 15% after the company posted higher fiscal Q3 results and announced restructuring plans that included lay-offs of nearly 4,000 employees.At the start of a two-day summit, Xi told Trump that US-China trade talks were progressing positively, but warned that disagreement over Taiwan could lead to a dangerous situation and even cause conflict.Traders also mulled the latest round of earnings, with Brookfield (BN) reporting higher Q1 distributable earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $104.90 per barrel and US West Texas Intermediate crude 0.7% lower at $100.33 per barrel.US retail sales rose by 0.5% in April, as expected in a survey compiled by Bloomberg as of 7:35 am ET and following the previous month's 1.6% gain.US import prices rose by 1.9% in April, above the 1% increase expected in a survey compiled by Bloomberg as of 7:35 am ET and faster than a 0.9% gain in March.US initial jobless claims rose to a level of 211,000 in the week ended May 9 from a downwardly revised 199,000 level in the previous week, compared with expectations for a smaller increase to 205,000 in survey of analysts compiled by Bloomberg.Federal Reserve Kansas City President Jeffrey Schmid, Cleveland President Beth Hammack, New York President John Williams, and Governor Michael Barr are slated to speak on Thursday.In other world markets, Japan's Nikkei closed 1% lower, Hong Kong's Hang Seng ended flat, and China's Shanghai Composite finished 1.5% lower. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 1.3% higher in Europe's early afternoon session.In equities, Nvidia (NDA), Applied Materials (AMAT), and Marvell Technology (MRVL) joined Cisco in an upswing of technology stocks that lifted the market. Nvidia stock was up 2.1%, Applied Materials shares rose 1.9%, and Marvell stock was up 2.8%.On the losing side, Alibaba (BABA) and JD.com (JD) shares were down 3.1% and 1.7%, respectively, after a Reuters report said that they were among the roughly 10 Chinese companies that have secured US clearance to purchase Nvidia's H200 artificial intelligence chip, without a single delivery being made so far.

Dow JonesNasdaq CompositeS&P 500$AMAT$BABA$BN$CSCO$JD$MRVL$NVDA

Asia Markets86d ago

Tadawul Shares End Week Lower; Saudi Arabia's April Inflation Cools

The Tadawul All Share Index ended the week lower at 0.22% in the red as investors assessed Saudi Arabia's latest economic data.According to the General Authority for Statistics, the kingdom's annual inflation rate softened year over year to 1.7% in April from 1.8% in the prior month. On a monthly basis, the index edged up 0.2%."On a monthly basis, the CPI in April 2026 recorded a relative increase of 0.2% compared to March 2026, as the prices of the food and beverage division increased by 0.8% driven by a 0.9% increase in the food group. The prices of the housing, water, electricity, gas and other fuels division increased by 0.3% the transportation division by 0.3%," the statistics agency said in its report.The country's wholesale prices had a steady 3.3% growth in April. Meanwhile, freshly released producer price index data for the kingdom showed a 5.5% year-over-year increase in March. Month over month, the index saw a 4.7% rise.In international news, market watchers are focusing on the results of US President Donald Trump's state visit to China. The meeting between Trump and his Chinese counterpart, Xi Jinping, will focus on the trade war, the critical minerals deal, AI, their stances on Taiwan, and the Middle Eastern conflict.Back at home and on the corporate front, Saudi Fisheries Co. (SASE:6050) will get 1.6 million Saudi riyals after the Primary Court of Muscat Governorate in Oman ruled in favor of the company regarding a lawsuit for a fishing contract with Ocean Fish Co. Shares of Saudi Fisheries ticked down 0.10% at closing.

^TASISASE:6050

Asia Markets86d ago

UAE Shares Down as Investors Weigh US-China Talks

Stock trading in the United Arab Emirates closed lower as investors closely monitored the meeting between the US and China, hoping for signs of de-escalation in the Iran war.At the close of Thursday trading, the FTSE ADX General Index ended little changed at 0.006% in the red, while the DFM General Index lost 0.413%.Dominating headlines all over the world are the bilateral talks between US President Donald Trump and his Chinese counterpart, Xi Jinping. Reuters reported, citing a White House readout, that both leaders agreed on the opening of the Strait of Hormuz and Iran not having a nuclear weapon."The market could be pinning too much hope on the US-China talks yielding some positive results on Iran. Some hope that China could exert pressure on Iran to reach a deal with the US, to end the war and lead to a resumption of energy flows through the Strait of Hormuz," ING said.On the oil front, global supply dropped by an additional 1.8 million barrels per day in April, bringing the total losses since February to 12.8 million barrels per day, the International Energy Agency, or IEA, said in its monthly oil market report published on Wednesday."With Hormuz tanker traffic still restricted, cumulative supply losses from Gulf producers already exceed 1 billion barrels with more than 14 mb/d of oil now shut in, an unprecedented supply shock," IEA commented. "While demand may swing back to growth towards the end of the year if a deal to end the war is agreed that allows flows through the Strait of Hormuz to gradually resume from 3Q26, as is assumed in this Report, supply will likely be slower to recover. As a result, the oil market remains in deficit until the final quarter of the year."Closer to home and on the corporate front, Aldar Properties (ADX:ALDAR) acquired a residential-for-rent community comprising 312 homes in Dubai for 1.1 billion Emirati dirhams. Shares of the real estate closed the session 1.14% lower.Elsewhere, Dubai-listed investment companies Watania International Holding (DFM:WATANIA) and Ekttitab Holding (DFM:EKTTITAB) gained 0.65% and 0.23%, respectively, despite reporting higher attributable losses for the first quarter.

^DFMGI^FADGIADX:ALDARDFM:EKTTITABDFM:WATANIA

Asia Markets86d ago

New Zealand Shares Fall; Synlait Milk CEO Resigns

New Zealand shares ended lower on Thursday despite a higher Wall Street close, followed by a broad-based rise in Asian shares.The S&P/NZX 50 Index fell 0.29% or 37.99 points to close at 13,025.07.On Wednesday, the Nasdaq Composite moved up by 1.2%, the S&P 500 gained 0.6%, while the Dow Jones Industrial Average fe 0.1%."Markets are trying to run two playbooks ⁠at once: AI and earnings [say] buy growth, but geopolitics and energy prices are quietly [rewriting] the inflation trajectory in the background," said Saxo Chief Investment Strategist Charu Chanana, as quoted by Reuters.In domestic news, New Zealand national home sales fell 7.9% year-on-year to 6,262 in April 2026, though the seasonally adjusted sales count declined a more moderate 2.1% compared to March, according to data by the Real Estate Institute of New Zealand (REINZ).In corporate news, Synlait Milk (ASX:SM1, NZE:SML) said that Chief Executive Richard Wyeth has resigned and will remain with the company until June 30 to support the transition process.Vista Group International (ASX:VGL, NZE:VGL) said that its existing client, Regal Cineworld Group, will transition its 88 Cineworld cinemas and more than 950 screens across the UK to Vista Cloud's digital enablement platform this year, following the successful migration of 25 Picturehouse Cinema sites in 2025.

^NZ50ASX:SM1ASX:VGLNZE:SMLNZE:VGL

Asia Markets86d ago

US Equity Indexes Mixed as Communication Services, Tech Help Outweigh Impact of Hot Producer Prices

US equity indexes closed mixed on Wednesday, as communication services and technology led sectors amid the fastest annual pace of growth in producer prices in four years, signaling the strength of the so-called AI trade.The Dow Jones Industrial Average fell 0.1% to 49,693.20. The Nasdaq jumped 1.2% to 26,402.34, and the S&P 500 climbed 0.6% to 7,444.25.In a broadly positive tape, communication services, technology, and consumer discretionary were among the top gainers. Utilities, financials, real estate, and industrials declined.Of the top 10 companies with a market capitalization of more than $200 billion, implying a significant sway over indexes, seven were from technology and communication services, according to data compiled by Finviz. Nasdaq's leaders included Marvell Technology (MRVL), Arm (ARM), and Micron Technology (MU). In the S&P 500, ON Semiconductor (ON) and Hewlett-Packard Enterprise (HPE) were among the biggest outperformers. Nvidia (NVDA) and Cisco (CSCO) were in the top five gainers on the Dow.In economic news, the Producer Price Index soared 1.4% month-over-month in April from a 0.7% gain in March, according to the Bureau of Labor Statistics. The print beat the 0.5% increase expected in a Bloomberg-compiled survey. After excluding food and energy prices, core PPI surged 1.0% from 0.2%, above the 0.3% advance anticipated.Year-over-year, PPI soared 6.0% in April while core PPI catapulted 5.2%, both above their respective March rates and the strongest readings since December 2022.A hotter-than-expected PPI, coupled with Tuesday's larger-than-expected rise in the consumer price index, underscores not only the price impact already realized but the "additional inflationary pressures still coming down the pipeline," according to a Stifel note.With energy cost passthrough likely to keep year-over-year core personal consumption expenditures, or PCE, inflation closer to 3% than 2% all year, Goldman Sachs said in a note that lower monthly inflation prints after the oil shock fades and further labor market softening will likely be needed for Fed rate cuts this year."We now expect it to take a bit longer to meet that bar," the investment bank said while pushing back the final two rate cuts in its forecast to December 2026 and March 2027.US Treasury yields were mostly down, with the 10-year steady to slightly lower at 4.47%.The two-year slipped 1.5 basis points to 3.98%.Meanwhile, in its closely watched Oil Market Report, the International Energy Agency said the loss of Persian Gulf supply is depleting global inventories at a record pace. Inventories fell by 129 million barrels per day in March and by 117 million bpd in April, though rising output from producers outside of the Gulf is helping to ease the supply shock."With Hormuz tanker traffic still restricted, cumulative supply losses from Gulf producers already exceed 1 billion barrels with more than 14 mb/d of oil now shut in, an unprecedented supply shock," the agency said.Nevertheless, West Texas Intermediate crude oil futures fell 0.9% to $101.29, and Brent crude futures declined 1.8% to $105.81.In precious metals, gold futures rose 0.3% to $4,696.2, and silver futures jumped 3.1% to $88.27.

Dow JonesNasdaq CompositeS&P 500$ARM$CSCO$HPE$MRVL$MU$NVDA$ON

Asia Markets87d ago

US Equity Indexes Mixed Amid Hot Producer Prices, Tech Gains

US equity indexes traded mixed after midday Wednesday as a hot producer price inflation print failed to restrain technology bulls.The Dow Jones Industrial Average fell 0.2% to 49,596.1, while the Nasdaq jumped 1.2% to 26,409.3 and the S&P 500 climbed 0.6% to 7,445.5. Utilities, financials, and real estate led the decliners. Communication services, consumer discretionary, and technology were among the top gainers.Of the top 10 companies with a market capitalization of more than $200 billion, implying a significant sway over indexes, seven were from technology and communication services. In the S&P 500, ON Semiconductor (ON) was among the top outperformers. Nasdaq's leader was Marvell Technology (MRVL), and Nvidia (NVDA) was the second-biggest gainer on the Dow.Nvidia Chief Executive Jensen Huang joined President Trump on his visit to Beijing, a last-minute addition that has raised expectations of progress in stalled talks over H200 AI chip sales to China, Reuters reported Wednesday.Cantor Fitzgerald adjusted its price target for ON Semiconductor to $100 from $95 while maintaining its neutral rating.In economic news, the US Producer Price Index jumped 1.4% in April from a 0.7% gain in March, according to the Bureau of Labor Statistics, beating the 0.5% increase expected in a survey compiled by Bloomberg. After excluding food and energy prices, core PPI surged 1.0% from 0.2%, above the 0.3% advance anticipated.Year-over-year, PPI soared 6.0% in April while core PPI catapulted 5.2%, both above their respective March rates and the strongest readings since December 2022.A hotter-than-expected PPI, coupled with Tuesday's larger-than-expected rise in the consumer price index, underscores not only the price impact already realized, but the additional inflationary pressures still coming down the pipeline, according to a Stifel note."As the administration continues to work for a resolution to the conflict, even with a nearer-term reopening of the Strait of Hormuz or a restoration of global oil supply and flows, given the lag time between oil and gas prices, the brunt of the price pressure may still be felt in the coming months," Lindsey Piegza, Stifel's chief economist, said in the note.Meanwhile, in its closely watched Oil Market Report, the International Energy Agency said the loss of Persian Gulf supply is depleting global inventories at a record pace. Inventories fell by 129 million barrels per day in March and by 117 million bpd in April, though rising output from producers outside of the Gulf is helping to ease the supply shock."With Hormuz tanker traffic still restricted, cumulative supply losses from Gulf producers already exceed 1 billion barrels with more than 14 mb/d of oil now shut in, an unprecedented supply shock," the agency said.West Texas Intermediate crude oil futures slipped 0.3% to $101.90, and Brent crude futures declined 1.5% to $106.19.US Treasury yields were mixed, with the 10-year up one basis point to 4.48%. The two-year rate was steady at 3.99%.In precious metals, gold futures rose 0.5% to $4,711.1, and silver futures jumped 5% to $89.84.

Dow JonesNasdaq CompositeS&P 500$MRVL$NVDA$ON

Asia Markets87d ago

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 Markets87d 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 Markets87d 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 Markets87d 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 Markets87d 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 Markets87d 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 Markets87d 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 Markets87d 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 Markets87d 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 Markets87d 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 Markets87d 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 Markets87d 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 Markets88d 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 Markets88d 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

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Asia Markets87d ago

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

Dow JonesNasdaq CompositeS&P 500