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Exchange-Traded Funds Mixed as US Equities Fall After Midday

Broad-market exchange-traded funds IWM and IVV were mixed, with the latter in the red. Actively traded Invesco QQQ Trust (QQQ) fell 0.5%.US equity indexes fell after the 10-year benchmark government bond yield touched a 52-week high of 5.01% and crude oil prices extended gains amid the ongoing war in Iran.EnergyIShares US Energy ETF (IYE) lost 0.6%, and the State Street Energy Select Sector SPDR (XLE) fell 0.7%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) shed 1.2%, iShares US Technology ETF (IYW) declined 0.4% and iShares Expanded Tech Sector ETF (IGM) rose 0.6%.The State Street SPDR S&P Semiconductor (XSD) dropped 4.7%, while iShares Semiconductor (SOXX) decreased 4.8%.FinancialThe State Street Financial Select Sector SPDR (XLF) gained 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was 0.6% higher, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 0.7%.CommoditiesCrude oil gained 0.9%, and the United States Oil Fund (USO) was 0.8% higher. Natural gas increased 2.3%, and the United States Natural Gas Fund (UNG) advanced 2.2%.Gold on Comex declined 0.5%, and the State Street SPDR Gold Shares (GLD) fell 0.8%. Silver dropped 1.8%, and iShares Silver Trust (SLV) decreased 0.9%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) gained 1.5%. The Vanguard Consumer Staples ETF (VDC) was up 1.4%, and iShares Dow Jones US Consumer Goods (IYK) also rose 1.1%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was 0.2% higher. The VanEck Retail ETF (RTH) gained 0.8%, and the State Street SPDR S&P Retail (XRT) advanced 1.5%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) was 1.5% higher; iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were up about 1.4% each, while iShares Biotechnology ETF (IBB) was up 0.9%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) was 1.5% lower. The Vanguard Industrials Index Fund (VIS) decreased 1.5%, and iShares US Industrials (IYJ) fell 0.9%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) increased 2.1%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 2%, ProShares Ether ETF (EETH) shed 1.6%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was up 1.4%.

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 Markets7d ago

Swiss Market Index Begins Week in Green; Ams-Osram Falls

Swiss stocks kicked off the new trading week on a positive note as investors gear up for a busy week of economic data prints and interest rate decisions from several major central banks.At the end of Monday's trading session, the blue-chip Swiss Market Index was up 0.75%. Switzerland's monthly producer and import price index rose by 0.7% month over month in August and declined by 0.7% on a yearly basis to 100.4 points, according to data from the Federal Statistical Office.Over to corporates, Zurich Insurance Group (ZURN.SW) secured all the necessary regulatory approvals for its planned acquisition of British peer Beazley, with the transaction set to be implemented via a court-sanctioned scheme of arrangement. A court hearing is set to take place on Sept. 22, while the scheme is expected to become effective Oct. 1 once certain remaining conditions are met. The Swiss insurer's shares closed 0.99% in the green.Meanwhile, Deutsche Bank Research increased its price target for Ams-Osram (AMS.SW) to 19 francs from 16 francs, with a hold rating on the stock, noting that new form factors in consumer electronics are topical once again as markets head into the age of artificial intelligence, despite many failures. The light and sensor technology company's stock closed the session 10.58% lower."For example, Apple launched its first foldable smartphone last week (iPhone Duo, starting at $1,999), with expectations (IDC) to ship 17m units in 2027. Other players (Meta, Snap, openAI Google, Samsung, Chinese) are also exploring new form factors as we enter the AI era. Far beyond the capabilities of traditional smartglasses (e.g., Meta Ray Bans), one promising category is HUD (heads up display) smartglasses given the addition of lightweight info (e.g., notifications, directions, real-time translations directly into your field of view), initially starting with one eye (monocular display)," the research firm said.Elsewhere and in geopolitical news, Gulf states postponed today's planned meeting with Iran regarding shipping through the Strait of Hormuz, as Yemen's Houthi rebels launched a fresh attack on military targets in Saudi Arabia, further escalating geopolitical tensions in the Middle East.

^SSMI$AMS.SW$ZURN.SW

Asia Markets7d ago

German Stocks Kick Off Busy Central Bank Week in Red

German equities were down 0.60% on Monday's close as investors brace for key central bank decisions against a backdrop of rising oil prices driven by escalating Middle East tensions.Following a quiet start to the week on the macroeconomic data front, central bank activity will pick up with sequential policy announcements from the US Federal Reserve on Wednesday local time, the Bank of England on Thursday and the Bank of Japan on Friday. Back in Germany, market watchers await August wholesale price and September ZEW results due on Tuesday alongside August producer price data out on Friday.These results land as oil transit risks heighten after a precautionary closure of a key Saudi Arabian pipeline and the postponement of planned Omani-hosted talks to tackle the creation of a temporary Strait of Hormuz shipping corridor. Adding to supply security concerns, Iranian-backed Houthi forces continue to advance along the Red Sea coast near Yemen, threatening another important chokepoint."The move to $108 a barrel is a clear signal that the market is increasingly pricing in a significant loss of supply. The broader Middle East conflict is already putting a premium on crude, and the loss of Saudi Arabia's East-West pipeline adds another major constraint," Rystad Energy said. "The relatively contained price reaction suggests the market still expects Saudi inventories to cushion exports in the near term, but if the disruption extends beyond the five-to-seven-day inventory cushion, that could change quickly."On the corporate side, Hugo Boss (BOSS.F) announced that Stephan Sturm will step down as supervisory board chairman on Oct. 15. The move comes as the company undergoes a shift in shareholder structure, driven by British sports and luxury retailer Frasers Group's bid to acquire a controlling stake in the German fashion house. Hugo Boss lost 0.13% on Xetra.Meanwhile, Metzler Capital Markets affirmed its investment case on Deutsche Börse (DB1.F). The research firm sees a "benign" earnings trajectory as it expects the German stock exchange operator to raise its full-year 2026 guidance during its third-quarter results."Following a model review, we lift our EPS estimates for 2026e-2028e by between 3% and 5%. The upgrades relate mainly to Eurex (interest rate derivative trading volumes) and Clearstream (revenues from custody and settlement, as well as net interest income). Simultaneously, in our [cost of equity] estimate for Deutsche Börse Group, we have reflected the rise in the yield on 10y German Bunds over recent weeks. Overall, this leads to an unchanged [price target] of EUR 303 per DB1 share, and we reiterate our BUY recommendation," the research firm said. Deutsche Börse climbed 1.92% at the end of the trading day.

^DAX$BOSS.F$DB1.F

Asia Markets7d ago

UK Shares Rise Ahead of BoE Rate Decision; GSK Gains on Lung Cancer Data

The UK's blue-chip FTSE 100 closed 0.40% higher on Monday as investors looked ahead to the Bank of England's interest rate decision later this week, with rising oil prices and persistent Middle East tensions adding to inflation concerns.The BoE is widely expected to keep its benchmark rate at 3.75% on Thursday, although policymakers are likely to maintain a hawkish tone as higher energy prices raise the risk of persistent inflation. "While we expect the central bank to keep the door open to a hike, we find it hard to believe they could actually 'out-hawk' the market. Our view is that the BoE will be on hold in 2026 and cut in late 2027. But risks of a hike later this year/early next year have become more pronounced," BofA Securities said.Oxford Economics also warned that sustained higher oil prices and geopolitical tensions could put pressure on central banks to raise rates before the end of 2026. "Central banks that we thought would keep interest rates unchanged, including the Federal Reserve and [BoE], are coming under increasing pressure from the bond market to hike," the research firm said, adding that rising energy prices were challenging its previous expectation that rates would remain unchanged into early 2027.Aside from the rate decision on Thursday, the UK economic calendar includes labor market data due Tuesday, August inflation and producer price data on Wednesday, and retail sales data on Friday.On the corporate front, GSK (GSK.L) gained 4.63% at close, among the FTSE 100's strongest risers, after reporting positive lung cancer trial data. The drugmaker said its Ris-Rez antibody-drug conjugate cut the risk of death by 54% in the phase 3 Artemis-008 trial in China among patients with advanced or relapsed small-cell lung cancer, compared with topotecan.Separately, GSK reported an objective response rate of 94% for Jideytro in previously untreated patients with advanced or metastatic ROS1-positive non-small cell lung cancer in updated phase 1/2 Arros-1 data. The company is expected to use the results to support a potential filing with the US Food and Drug Administration for first-line use.In other news, the Upper Tribunal in London upheld the UK Financial Conduct Authority's lifetime ban on Crispin Odey following a sexual harassment scandal involving the hedge fund manager. However, it reduced the fine imposed on Odey to 1.5 million pounds sterling from 1.8 million pounds.

FTSE 100$GSK.L

Asia Markets7d ago

European Stocks Close Mixed in Monday Trading; ECB Rates Could Rise as Energy Costs Fuel Inflation

European stock markets closed mixed in Monday trading as oil prices continued to rise following an expansion and escalation of the war in the Middle East over the weekend.The Stoxx Europe declined 0.5%, Germany's DAX fell 0.7%, the FTSE 100 gained 0.4%, France's CAC dropped 0.9%, and the Swiss Market Index rose 0.9%.European Central Bank Governing Council member Martins Kazaks said the central bank may need to gradually raise interest rates further to contain inflation, due to higher energy costs, Reuters reported.In corporate news, Spanish telecommunications operator Telefonica has resumed discussions with Zegona Communications over a potential acquisition of Vodafone Spain, with the Spanish telecom operator seeking to revive preliminary talks held previously, Vozpopuli reported Monday, citing unnamed sources familiar with the matter.The discussions had stalled amid an unfavorable geopolitical and macroeconomic environment, while Telefonica also viewed Zegona's valuation expectations as too high, according to a Google translation of the report.Telefonica did not immediately respond to' request for comment.GSKShares of Telefonica declined 0.5% in Madrid.Sanofi will acquire a 26.4% stake in Cheplapharm as part of a partnership agreement that would transfer 20 established medicines and three manufacturing sites to the German pharmaceutical company, the companies said Monday.Under the agreement, the commercial transfer of the mature medicine portfolio is slated to begin in Q1 of 2027, followed by the transfer of three manufacturing sites located in Hungary, France, and Singapore, according to a statement. The transaction, anticipated to close in Q3 of 2027, is not expected to affect Sanofi's 2026 guidance, the companies said.Shares of the French pharmaceutical company increased 2.6% in Paris.GSK said Monday clinical trial data showed its drug zidesamtinib achieved a 94% response rate in patients with advanced lung cancer who had not received prior targeted therapy.All trial participants with metastatic brain tumors responded to the treatment, with 70% achieving complete tumor clearance, the company said. Treatment-related adverse events resulted in dose reductions for 11% of patients and discontinuations for 1%, it said.The company plans to submit an application to the US Food and Drug Administration this year to expand the drug's approval for first-line treatment, GSK said.Shares of GSK climbed 4.6% in London.AstraZeneca said Monday a late-stage study of its drug Enhertu showed a six-month improvement in median progression-free survival as a first-line treatment for advanced HER2-mutant non-small cell lung cancer.The pharmaceutical major also said a separate Phase 3 trial showed that Tagrisso provided a sustained, clinically meaningful overall survival benefit at eight years compared with placebo in patients with early-stage EGFR-mutated lung cancer following complete tumor resection.Shares of AstraZeneca advanced 3.5% in London.STMicroelectronics on Monday introduced a 1.1-megapixel automotive image sensor designed to monitor drivers and passengers using infrared cameras.The ST SafeSense VD56GA captures clearer infrared images while reducing camera size, integration needs and overall system costs, the company said.Shares of the French semiconductor company fell 6.7% in Paris.Nokia said Monday that ESpanix has deployed its AI-powered Deepfield Defender cybersecurity service to detect and mitigate distributed denial-of-service, or DDoS, attacks on the Spanish company's internet exchange platform.With the deployment, ESpanix can offer DDoS protection as an optional service to the more than 200 national and international networks connected to its exchange, Nokia said.Shares of the Finnish telecommunications company shed 10% in Helsinki.Ericsson and Nex-Tech Wireless have agreed to a four-year modernization program to upgrade about 85% of the carrier's radio access network infrastructure in rural Kansas, the companies said Monday.Financial terms of the agreement were not disclosed.The project involves installing a cloud-native 5G standalone core alongside hosting capabilities for third-party mobile carriers, the company said.Shares of the Swedish telecommunications company were off 0.3% in Stockholm.

Asia Markets7d ago

European Equities Traded in the US as American Depositary Receipts Drop in Monday Trading

European equities traded in the US as American depositary receipts opened the week tracking sharply lower late Monday morning, dropping 1.09% to 1,923.74 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by software firm SAP (SAP) and brewing company Anheuser-Busch InBev (BUD), which increased 3.2% and 1.8% respectively. They were followed by biopharmaceutical company DBV Technologies (DBVT) and accommodations booking site trivago (TRVG), which were up 1.5% and 0.6% respectively.The decliners from continental Europe were led by biopharmaceutical company Cellectis (CLLS) and telecommunications company Nokia (NOK), which shed 42% and 10% respectively. They were followed by telecommunications company Ericsson (ERIC) and lender Banco Santander (SAN), which fell 2.8% and 2.6% respectively.The gainers from the UK were led by tobacco company British American Tobacco (BTI) and pharmaceutical company GSK (GSK), which advanced 3.5% each. They were followed by medical device maker Smith & Nephew (SNN) and software company Endava (DAVA), which rose 2.9% and 2.8% respectively.The decliners from the UK and Ireland were led by mining company BHP Group (BHP) and lender Barclays (BCS), which lost 3.9 and 2.9% respectively. They were followed by lender Lloyds Banking Group (LYG) and utilities company National Grid (NGG), which dropped 2.1% and 2% respectively.

$BCS$BHP$BTI$BUD$CLLS$DAVA$DBVT$ERIC$GSK$LYG$NGG$NOK$SAN$SAP$SNN$TRVG

Asia Markets7d ago

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

Asian equities traded in the US as American depositary receipts started the trading week heading sharply lower Monday morning, falling 1.06% to 2,973.73 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by online game developer Gravity (GRVY) and pharmaceutical company Takeda Pharmaceutical (TAK), which rose 3.1% and 2%, respectively. They were followed by online brokerage UP Fintech (TIGR) and fintech firm Jiayin Group (JFIN), which were up 1.4% each.The decliners from North Asia were led by semiconductor companies Silicon Motion Technology (SIMO) and ASE Technology (ASX), which fell 7.2% and 5.7%, respectively. They were followed by mobile big data platform Aurora Mobile (JG) and semiconductor company Himax Technologies (HIMX), which were down 5.4% each.From South Asia, the gainers were led by IT firms Infosys (INFY) and Wipro (WIT), which advanced 2.9% and 1.8%, respectively. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which increased 1.5% and 0.1%, respectively.The decliners from South Asia were led by IT firm Sify Technologies (SIFY) and lender HDFC Bank (HDB), which lost 1.5% each. They were followed by telecommunications operator PLDT (PHI) and lender ICICI Bank (IBN), which dropped 1.1% and 0.7%, respectively.

$ASX$GRVY$HDB$HIMX$IBN$INFY$JFIN$JG$PHI$RDY$SIFY$SIMO$TAK$TIGR$TLK$WIT

Asia Markets7d ago

Correction: Update: US Equity Futures Lower Pre-Bell as Traders Assess Call for AI Advancement Slowdown, Upcoming Fed Decision

(Corrects the oil price percentage change in the sixth paragraph.)US equity futures were edging lower pre-bell Monday as traders evaluated a call for a slowdown in the advancement of artificial intelligence models and the upcoming Federal Reserve policy decision.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.7%, and Nasdaq futures were 1.6% lower.In an essay published on Saturday, Anthropic Chief Executive Officer Dario Amodei called for slowing the pace at which companies improved the capabilities of AI models, citing risks of losing control, the misuse of AI for cyberattacks and bioterrorism, and serious economic disruption.Amodei's proposal was backed by other major AI players, including OpenAI CEO Sam Altman and SpaceX (SPCX) CEO Elon Musk.The Federal Reserve policy session starts Tuesday and concludes with a rate announcement on Wednesday. There is an 88.5% chance the Fed will raise rates by 0.25%, according to the CME Group FedWatch indicator.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.4% at $109.24 per barrel and US West Texas Intermediate crude 4.5% higher at $104.53 per barrel.The economic calendar is vacant.In other world markets, Japan's Nikkei closed 0.8% lower, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was up 0.5%, and Germany's DAX index was 0.6% lower in Europe's early afternoon session.In equities, stocks of Nvidia (NVDA), Micron Technology (MU), and Intel (INTC) were down as part of a broader downswing in the semiconductor industry after the AI development concerns raised by Amodei. Nvidia shares fell 2.5%, Micron stock was down 6%, and Intel shares dropped 6.9%.On the winning side, Exxon Mobil (XOM) stock was up 1.5% after a Bloomberg report cited executive Peter Clarke as saying that the company has raised its liquefied natural gas sales forecast even as the Middle East war prompts some countries to reconsider their reliance on the fuel. Johnson & Johnson (JNJ) shares rose 1.3% after the company said Sunday a phase 3 trial of its lung cancer drug Rybrevant combined with chemotherapy resulted in a median overall survival of 34.3 months. Chevron (CVX) stock was 1.5% higher after a Reuters report citing President of Global Gas, Freeman Shaheen, as saying that the company is considering expanding its global gas portfolio to the Mediterranean and Argentina to meet growing demand amid the crisis in the Middle East.

Dow JonesNasdaq CompositeS&P 500$CVX$INTC$JNJ$MU$NVDA$SPCX$XOM

Asia Markets7d ago

Update: US Equity Futures Lower Pre-Bell as Traders Assess Call for AI Advancement Slowdown, Upcoming Fed Decision

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Monday as traders evaluated a call for a slowdown in the advancement of artificial intelligence models and the upcoming Federal Reserve policy decision.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.7%, and Nasdaq futures were 1.6% lower.In an essay published on Saturday, Anthropic Chief Executive Officer Dario Amodei called for slowing the pace at which companies improved the capabilities of AI models, citing risks of losing control, the misuse of AI for cyberattacks and bioterrorism, and serious economic disruption.Amodei's proposal was backed by other major AI players, including OpenAI CEO Sam Altman and SpaceX (SPCX) CEO Elon Musk.The Federal Reserve policy session starts Tuesday and concludes with a rate announcement on Wednesday. There is an 88.5% chance the Fed will raise rates by 0.25%, according to the CME Group FedWatch indicator.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.7% at $109.57 per barrel and US West Texas Intermediate crude 468% higher at $104.67 per barrel.The economic calendar is vacant.In other world markets, Japan's Nikkei closed 0.8% lower, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was up 0.5%, and Germany's DAX index was 0.6% lower in Europe's early afternoon session.In equities, stocks of Nvidia (NVDA), Micron Technology (MU), and Intel (INTC) were down as part of a broader downswing in the semiconductor industry after the AI development concerns raised by Amodei. Nvidia shares fell 2.5%, Micron stock was down 6%, and Intel shares dropped 6.9%.On the winning side, Exxon Mobil (XOM) stock was up 1.5% after a Bloomberg report cited executive Peter Clarke as saying that the company has raised its liquefied natural gas sales forecast even as the Middle East war prompts some countries to reconsider their reliance on the fuel. Johnson & Johnson (JNJ) shares rose 1.3% after the company said Sunday a phase 3 trial of its lung cancer drug Rybrevant combined with chemotherapy resulted in a median overall survival of 34.3 months. Chevron (CVX) stock was 1.5% higher after a Reuters report citing President of Global Gas, Freeman Shaheen, as saying that the company is considering expanding its global gas portfolio to the Mediterranean and Argentina to meet growing demand amid the crisis in the Middle East.

Dow JonesNasdaq CompositeS&P 500$CVX$INTC$JNJ$MU$NVDA$SPCX$XOM

Asia Markets7d ago

Saudi Stocks Start US Fed Week in Green; Arabian Drilling Ticks Up

Saudi Exchange-traded shares closed the session higher as investors turned their attention to regional developments in the Middle East and the US Federal Reserve's highly anticipated interest rate move on Wednesday.At the close of Monday trading, the Tadawul All Share Index closed 0.13% in the green. Out of 272 shares, 78 stocks closed higher, while 182 were lower."Delving into more detail now and the main event for markets will be the Fed's decision on Wednesday. Our economists have long expected a 25bp rate hike with the market now at 87% this morning up from around 35% two Friday's ago just before Warsh's Jackson Hole speech. Such a move would take the target range to 3.75%-4.00%. Our economists believe the accompanying projections are likely to show a somewhat stronger growth outlook alongside still-elevated inflation. They have also added an extra hike in March to their forecast which now makes it 75bps of hikes over the next 7 months," Deutsche Bank Research said in a note.Also making headlines is the postponement of Iran's meeting in Oman with other Gulf countries. The meeting was going to focus on the reopening of the Strait of Hormuz.Back at home, the Houthi group launched missiles and drones that targeted a Saudi Arabian military airbase. The Houthi group said the attacks were made in retaliation for Saudi strikes on Yemen.On the corporate front, Arabian Drilling (SASE:2381) secured a 2 billion-Saudi-riyal contract to supply land rigs for gas lump sum turnkey, or LSTK, operations. Shares of the oilfield services company closed 2.99% higher.

^TASISASE:2381

Asia Markets7d ago

Petroleum Prices, AI Concerns Damp European Bourses Midday

European bourses tracked modestly lower midday Monday as traders weighed rising global crude prices, Middle East turmoil, and mounting concerns regarding the regulation of artificial intelligence models.Undercutting AI-related shares, over the weekend, Anthropic Chief Executive Dario Amodei posted on platform X that AI development should be slowed, while OpenAI CEO Sam Altman told Fortune magazine his company will not go public in 2026, also citing safety concerns.The pan-continental Stoxx Europe 600 Index was off 0.2% mid-session.Food stocks led gains on continental trading floors, while tech shares lagged.Front-month North Sea Brent crude-oil futures were up 3.4% at $108.16 a barrel in midday trades.Investors also eyed Wall Street futures flashing red, and lower closes overnight on Asian exchanges.In economic news, European Central Bank Governing Council member Martins Kazaks said the central bank may need to gradually raise interest rates further to contain inflation, due to higher energy bills, Reuters reported.The Stoxx Europe 600 Technology Index was down 2.1%, and the Stoxx 600 Banks Index lost 0.9% in mid-session action.The Stoxx Europe 600 Oil and Gas Index eased 0.1%, but the Stoxx 600 Europe Food and Beverage Index bucked trends and inclined 2.7%.The REITE, a European REIT index, rose 0.1%.On the national market indexes, Germany's DAX was down 0.5%, and the FTSE 100 in London gained 0.6%, largely on resource shares. The CAC 40 in Paris was down 0.7%, and Spain's IBEX 35 declined 0.9%.Yields on benchmark 10-year German bonds were higher, near 3.54%.The Euro Stoxx 50 volatility index was up 13.7% at 19.98, indicating average volatility for European stock markets in the next 30 days, a neutral signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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Asia Markets7d ago

Dubai, Abu Dhabi Stocks Kick Off US Fed Week in Green

Shares trading in the United Arab Emirates closed higher on Monday as investors brace for the US Federal Reserve's highly anticipated interest rate decision this week.At the close of trading, the FTSE ADX General Index added 0.057%, while the DFM General Index gained 0.595%.The US Fed is widely expected to tighten monetary policy with a 25-basis-point rate increase, its first in three years, at its Wednesday meeting amid persistent inflation and a resilient labor market."Our forecast is more dovish than current market pricing, which suggests a hike is overwhelmingly likely. Expectations rose after Fed Chair Kevin Warsh's Jackson Hole address, but he's said he doesn't want to give forward guidance. Fed Governor Christopher Waller has offered much clearer guidance in recent weeks, and on balance, recent data still support his case for a hold," Oxford Economics said.Oil prices rose above $107 per barrel mark after Saudi Arabia shut down its East-West pipeline and Iran-backed Houthis claimed attacks on a Saudi military airbase. Meanwhile, the cancellation of a planned meeting between Iran and other Gulf states also added to the upward pressure.Closer to home and on the corporate front, Space42 (ADX:SPACE42) and Viasat agreed to establish and contribute up to $1 billion in combined equity for Equatys, a shared space and ground infrastructure platform to extend mobile coverage in areas without terrestrial networks. Space42 gained 6.53% at closing.Islamic Arab Insurance (DFM:SALAMA), d/b/a Salama, and Ajman Bank (DFM:AJMANBANK) partnered to provide Takaful services to the latter's customers, initially focusing on home finance services. Salama ended flat, while Ajman Bank closed the session 2.06% lower.

^DFMGI^FADGIADX:SPACE42DFM:AJMANBANKDFM:SALAMA

Asia Markets7d ago

AI, Oil, Bond Yield Concerns Damp Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed lower pre-bell Monday as mounting concerns regarding AI development met rising oil prices, underscored by a growing consensus the US central bank will raise rates this week.In the futures, the S&P 500 fell 0.7%, the Nasdaq declined 1.6% and the Dow Jones was off 0.1%.Traders look ahead to the Federal Reserve policy session that starts Tuesday and culminates with a rate announcement on Wednesday. There is an 86.5% chance the Fed will raise rates by 0.25%, according to the CME Group FedWatch indicator.Undercutting AI-related shares, Anthropic CEO Dario Amodei posted on social media platform X on Saturday that AI development should be slowed, while OpenAI CEO Sam Altman said his company will not go public in 2026 in an interview posted Saturday by Fortune magazine.The VanEck Semiconductor fund (SMH) traded down more than 4% pre-bell.West Texas Intermediate crude oil traded up 2.5% to $102.60 a barrel in morning action, following reports that Houthi military forces in Yemen have damaged Saudi Arabian oil exporting pipelines and infrastructure.Asian exchanges traded mostly lower overnight, and European bourses edged south midday on the continent.In premarket action, Bitcoin traded at $77,911, and 10-year US Treasuries offered 4.97%. Spot gold commanded $4,293 an ounce.

Dow JonesNasdaq CompositeS&P 500

Asia Markets7d ago

AI Concerns, Oil Bills Blunt Asian Stock Markets

Asian stock markets tracked unevenly lower on Monday as oil prices rose and as concerns mounted regarding the rapid development and safety of AI models.Brent crude oil traded at $107.37 a barrel, up 2.6%, during Asian market hours.Shanghai and Tokyo finished in the red, although Hong Kong ended higher. Seoul's semiconductor-laden KOSPI index lost 3.3%, while other regional exchanges were mixed on the low side.In Japan, the Nikkei 225 opened lower and could not recover, finishing off 0.8% as traders backed away from AI and semiconductor shares on concerns that tech-sector development could be curbed by rising political concerns regarding the regulation of AI capacities.The benchmark Nikkei 225 fell 518.35 to 63,492.99, as losing issues outnumbered gainers 158 to 65.Leading the upside was IT giant Fujitsu, rising 7.4% after announcing it will start selling a new processor for AI and cloud computing in November. SoftBank declined 10.7% after US-based OpenAI, in which the tech financiers have a stake, disclosed it would not go public in 2026.In economic news, Japan industrial production rose 3.9% on the year in July, reported the Ministry of Economy, Trade & Industry.In Hong Kong, the Hang Seng Index opened lower but rose to the close, notching up 0.5% as traders looked for values after recent bear moves.The broad gauge Hang Seng rose 111.97 to 24,917.60, as gaining issues outnumbered losers 50 to 44. The Hang Seng TECH Index lost 0.1% on the day, while the Mainland Properties Index fell 0.7%.Leading the upside was Hansoh Pharmaceutical, gaining 5.1%, while property developer Longfor declined 5.2%.On the mainland, the Shanghai Composite fell 0.1% to 3,885.33.In economic news, outstanding loan growth at China's banks grew by 4.9% in August on the year, reported the People's Bank of China.On the other regional exchanges, the Taiwan TWSE declined 0.7%; the Australian ASX 200 rose 0.1%; the Singapore Straits Times Index rose 0.4%; and the Thai Set declined 0.8%. Trading floors in Mumbai were closed.MSCI All Country Asia Pacific Index fell 0.9% on the day.

Hang SengNikkei 225Shanghai Composite

Asia Markets7d ago

US Equity Investors to Look for Hawkish Tilt in Fed Policy Announcements While Focusing on Iran Geopolitics This Week

US equity investors are expected to look out for follow-through in the Federal Reserve's policy announcements, retail sales and Iran geopolitics this week.* The Federal Reserve is widely expected to hike the target rate for the federal funds by 25 basis points on Wednesday while also releasing the Summary of Economic Projections. Fed Chair Kevin Warsh's press conference will begin at 2:30 pm E.T.* The strongest argument for hiking is that Warsh has probably boxed himself in with his high deference to markets, Derek Holt, head of capital market economics at Scotiabank, said in a note. "If you don't hike when it's priced, then when? If he doesn't hike, then markets may pay less heed to his hawkish laments," Holt said. He added, however, that hiking would be a "policy error" because the inflation threat is "overstated and so is job market resilience."* Macroeconomic data due this week include retail sales, ADP employment change, jobless claims, import and export prices, building permits and housing starts, and industrial production.* Middle East diplomacy appeared to falter heading into Monday with the postponement of a meeting between Iran and other Persian Gulf powers, Reuters reported. Fresh strikes from Houthi, an Iran-aligned militia group, on Saudi Arabia and Tehran's attacks on ships in the Gulf compounded supply concerns following the closure of a key Saudi oil pipeline, the news agency said.* Quarterly earnings due this week include Trip.com (TCOM) and Lennar (LEN).* S&P 500 companies' earnings increased almost 53% year-over-year, versus consensus for nearly 23% growth as of June 30, according to a D. A. Davidson note. Large investment gains that Alphabet (GGOG, GOOGL) recognized in SpaceX (SPCX) and Amazon.com (AMZN)-backed Anthropic skewed some of this growth, but even backing out this contribution, operating earnings growth was over 30%, per the note. Looking ahead to Q3, consensus is for S&P 500 earnings to surge more than 28% year over year.

Dow JonesNasdaq CompositeS&P 500$LEN$TCOM

Asia Markets8d ago

Tadawul Share Plunge as Saudi Arabia Shuts Down East-West Oil Pipeline

The Tadawul All Share Index plunged 1.30% in the red on Sunday as the widening Middle Eastern conflict raised concerns regarding oil supply.Saudi Arabia closed its East-West oil pipeline as a precautionary measure after an Iraq-originated drone attack. The move resulted in injuries and damage, Reuters reported."The Ministry of Foreign Affairs expresses the Kingdom of Saudi Arabia's strongest condemnation of targetting the East-West Pipeline in the Riyadh and Madinah regions by several drones launched from Iraq, which resulted in injuries and some damage that is currently being recovered," the kingdom's Ministry of Foreign Affairs said. "The Kingdom of Saudi Arabia affirms that it reserves its right to take all necessary measures to safeguard its sovereignty and security, protect its facilities, and ensure the safety of its citizens and residents."In other news, another vessel was attacked in the Strait of Hormuz as Iran and other Gulf countries are set to meet in Oman for the waterway's future operations and routes.On the corporate front, Dar Al Majdiah Real Estate (SASE:4326) shares closed 0.16% higher as it entered into an agreement with Jadwa Al Maqar Real Estate Fund to serve as a developer for the Mishraf Al Majdiah in Madinah.Meanwhile, insurers Allied Cooperative Insurance Group (SASE:8150) and Salama Cooperative Insurance (SASE:8050) received the Insurance Authority's clearance to sell their tourist and domestic workers' contract insurance products in Saudi Arabia.Allied Cooperative and Salama Cooperative closed 4.96% and 3.18% in the red, respectively.

^TASISASE:4326SASE:8150

Asia Markets10d ago

Update: US Equity Indexes Rise After August Inflation Print Triggers Rally in Shorter-Maturity Treasury Yields, Crude Oil Slumps

(Updates with index/price moves, comments and company/geopolitical news from the first paragraph.)US equity indexes rose amid a broad-based rally after August's inflation print sparked a surge in short-term government bond yields while crude oil slid ahead of a potential meeting between the Gulf states and Iran to stem their spiralling war.The Nasdaq Composite jumped 1% to 26,333.04, the S&P 500 rose 0.9% to 7,656.98, and the Dow Jones Industrial Average climbed 1% to 52,573.29 on Friday. All but two sectors, health care and utilities, rose. Communication services, consumer discretionary and technology led the gainers.The consumer price index rose 0.4%, the fastest pace since May and above July's 0.1% increase, Bureau of Labor Statistics data showed Friday. The move matched the Bloomberg-polled consensus. Core inflation jumped to a four-month high of 0.3%, exceeding projections for an unchanged 0.2% gain. On an annual basis, headline inflation held steady at 3.4%, as expected. The annual core measure eased to 2.4% from 2.5%, also in line with projections.Today's "ambiguous CPI data doesn't conclusively show evidence of continued disinflation or a continued trend of above-target inflation going forward," Jefferies Chief US Economist Thomas Simons said in a note."The rate decision at this meeting is a very close call, and it seems that no matter what the FOMC does, there will be criticism that they are making a mistake," Simons said. "If they hike, they will have to deal with setting expectations for further rate hikes, knowing that oil prices could crash at any time if there is a resolution to the situation in Iran. If they hold, they risk losing their inflation-fighting credibility, and they will be defying a market that is pricing in odds of nearly 90% for a hike."Supercore inflation - core services excluding housing - jumped 0.5% in August, marking the largest monthly gain in four months, according to a Stifel note. Over the past 12 months, the supercore grew 3.0%, accelerating from the 2.8% gain in July and marking the fastest pace since June.Last month, Fed Chair Kevin Warsh reiterated the Fed's commitment to eventually reinstating price stability, but market participants remained skeptical of any policy tightening, the Stifel note said. "There is no doubt the Fed should raise rates, but the question remains: Will they?"Most US Treasury yields rose. The two-year shot up 7.8 basis points to 4.63%, the highest since mid-2024. The 10-year yield climbed 2.7 basis points to 4.97%, the strongest level since October 2023.A six-member bloc of Gulf states is weighing a meeting with Iran next week to discuss the future of the Strait of Hormuz, people familiar with the matter told Bloomberg. Oman is aiming to assemble foreign ministers from the Gulf Cooperation Council and Iran on Monday in Salalah, a southern Omani city, sources told the news agency.The front-month US West Texas Intermediate crude oil contract slumped 2% to $100.44 per barrel, and global benchmark North Sea Brent dropped 2.6% to $104.80 per barrel. Both crude types were off their respective session lows after Saudi Arabia's Ministry of Energy said Friday that a key crude oil pipeline had been attacked and "was shut down as a precautionary measure," according to CNN.

Dow JonesNasdaq CompositeS&P 500

Asia Markets10d ago

US Equity Indexes Fall This Week as Benchmark Treasury Yield Hits Highest in Almost Three Years, Crude Oil Blows Past $100

US equity indexes fell this week as government bond yields surged to multi-year highs and crude oil soared following a worsening Iran war.* The S&P 500 closed at 7,656.98 on Friday, versus 7,718.60 a week ago. The Nasdaq Composite stood at 26,333.04, compared with 26,506.99 a week earlier, and the Dow Jones Industrial Average ended at 52,573.29, down from 53,414.25 at the end of last week.* Energy, technology and communication services led sectors, while healthcare sat at the bottom of sector charts.* The consumer price index rose 0.4%, the fastest pace since May and above July's 0.1% gain. The move matched the Bloomberg-polled consensus. Core inflation, which excludes the more volatile food and energy components, jumped to a four-month high of 0.3%, exceeding market projections for an unchanged 0.2% growth.* Interest rate traders are now pricing in an 87% probability that the Federal Reserve will raise its target rate by 25 basis points on Wednesday, up from 72% a day ago and 48% a month ago, according to the CME FedWatch tool.* The 10-year Treasury yield traded at 4.94% late Friday, the strongest level since October 2023, as inflation concerns mounted.* Yemen's Iran-aligned Houthis reached the strategic island of Perim in the Bab el-Mandeb Strait on Friday, Reuters reported, moving to tighten their grip on a vital global shipping route. If the Houthis gain control of the Bab el-Mandeb Strait, which is on the opposite side of the Arabian Peninsula from the Strait of Hormuz, it could give Iran a critical advantage in its war with the US, reducing supplies through a second major transit corridor, the news agency said Friday.* Also, this week, President Donald Trump acknowledged that the Iran war may last until after the November mid-term elections.* Global benchmark North Sea Brent crude oil surpassed $108.0 per barrel on Thursday following attacks on several crude oil carriers.

Dow JonesNasdaq CompositeS&P 500

Asia Markets10d ago

Update: Communication Services, Technology Push US Equity Indexes Higher While August CPI Sparks Rally in Shorter-Maturity Treasury Yields

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes rose amid a broad-based rally led by communication services and technology, after August's consumer price inflation data sparked a rise in short-term government bond yields and crude oil slumped.The Nasdaq Composite jumped 1.2% to 26,391.5, the S&P 500 climbed 1.1% to 7,671.1, and the Dow Jones Industrial Average advanced 1.1% to 52,642.2 after midday Friday. All sectors rose, with industrials among the top gainers.The consumer price index rose 0.4% month on month, the fastest pace since May and above July's 0.1% gain, the Bureau of Labor Statistics data showed Friday. The move matched the Bloomberg-polled consensus. Core inflation, which excludes the more volatile food and energy components, jumped to a four-month high of 0.3%, exceeding market projections for an unchanged 0.2% growth.On an annual basis, headline inflation held steady at 3.4%, as expected. The annual core measure eased to 2.4% from 2.5%, also in line with projections."Although headline inflation met expectations, core inflation came in slightly hotter than anticipated, ending a three-month run of softer readings," Thomas Feltmate, senior economist at TD Economics, said in a report. "The pickup was concentrated in non-housing services, which posted its strongest monthly gain since January and is still running north of 3% on a twelve-month basis -- underscoring the stickiness in this component of inflation."Most US Treasury yields rose in midday trading. The two-year jumped 7.8 basis points to 4.63%, the highest since mid-2024. The 10-year yield edged up 1.1 basis points to 4.96%, the strongest level since October 2023.Further in economic news, the University of Michigan's preliminary consumer sentiment index fell to 47.8 in September from 51.7 in August, versus the 51.0 expected in a survey compiled by Bloomberg. Respondents set one-year inflation expectations at 4.6%, up sharply from 4.0% in August, while five-year inflation expectations increased to 3.4% after remaining at 3.3% for three straight months.Yemen's Iran-aligned Houthis reached Perim island in the Bab el-Mandeb Strait on Friday, four Yemeni government sources told Reuters, moving to tighten their grip on an important shipping route.A Houthi spokesman said they will allow international vessels to pass through Bab al-Mandeb except Saudi ships, which are being blocked, Al Jazeera, a Middle Eastern broadcaster, reported.The front-month US West Texas Intermediate crude oil contract slumped 3% to $99.46 per barrel, and global benchmark North Sea Brent dropped 3.1% to $104.29 per barrel.In company news, Dell Technologies (DELL) is poised to benefit from a multi-year artificial intelligence infrastructure spending cycle, setting the stage for results to sustain above long-term targets, RBC Capital Markets said in a client note. The personal computer manufacturing giant's shares soared 11%, the top performer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$DELL

Asia Markets10d ago

Exchange-Traded Funds, US Equities Rise After Midday

Broad-market exchange-traded funds IWM and IVV were higher. Actively traded Invesco QQQ Trust (QQQ) rose 1%.US equity indexes rose amid a broad-based rally led by communication services and technology, after August's consumer price inflation data sparked a rise in short-term government bond yields and crude oil slumped.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) gained 0.3% each.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK), iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) rose 1.4% each.The State Street SPDR S&P Semiconductor (XSD) climbed 3.6%, while iShares Semiconductor (SOXX) increased 2.4%.FinancialThe State Street Financial Select Sector SPDR (XLF) gained 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) was 2.1% higher, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 1.8%.CommoditiesCrude oil fell 2.3%, and the United States Oil Fund (USO) decreased 2.7%. Natural gas shed 0.9%, and the United States Natural Gas Fund (UNG) dropped 1.1%.Gold on Comex declined 0.1%, and the State Street SPDR Gold Shares (GLD) moved 0.9% higher. Silver rose 0.1%, and iShares Silver Trust (SLV) increased 1.3%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) gained 0.5%. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) also rose 0.5% each.The State Street Consumer Discretionary Select Sector SPDR (XLY) was 0.9% higher. The VanEck Retail ETF (RTH) gained 0.7%, and the State Street SPDR S&P Retail (XRT) advanced 1.3%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) was fractionally lower; iShares US Healthcare (IYH) was slightly up and Vanguard Health Care ETF (VHT) was fractionally down, while iShares Biotechnology ETF (IBB) was up 0.3%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) was 1.2% higher. The Vanguard Industrials Index Fund (VIS) increased 1.3%, and iShares US Industrials (IYJ) rose 1.4%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) increased 0.9%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 0.7%, ProShares Ether ETF (EETH) advanced 5%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was down 1.3%.

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 Markets7d ago