Financial News · Live Terminal

European Stocks Higher in Thursday Trading; Eurozone Construction Contraction Linked to Middle East War

The European stock markets were higher in Thursday trading as The Stoxx Europe rose 0.3%, Germany's DAX gained 0.3%, the FTSE 100 edged 0.1% higher, France's CAC increased 0.8%, and the Swiss Market Index advanced 1%.The S&P Global Eurozone Construction PMI Total Activity Index, which gauges monthly changes in total industry activity, rose to 43.7 in May from 41.7 in April, which is a softer, albeit still sharp contraction in activity in the euro area construction sector."Anecdotal evidence suggested that difficulty sourcing and receiving inputs due to shipping delays, amid higher fuel and transportation costs, were key reasons behind disruption to the sector," Usamah Bhatti, Economist at S&P Global Market Intelligence, said in a statement. "These were often linked to the residual disruption caused by the war in the Middle East."And in corporate news, shares of British banks HSBC and Standard Chartered, and insurance giant Prudential fell on the FTSE in London trading after the South China Morning Post reported that mainland Chinese residents are facing greater constraints on opening offshore investment accounts through major Hong Kong banks.The Shanghai branch of Bank of East Asia suspended its witness service for opening Hong Kong investment accounts due to tighter oversight of capital outflows by Chinese authorities, according to the report.HSBC, Standard Chartered and Prudential did not immediately respond to' requests for comment.Shares of Standard Chartered and HSBC dropped 3.3% and 2% respectively, while Prudential shares were more than 7% lower.BHP Group's BHP Canada subsidiary signed transportation agreements with Canadian National Railway and Canadian Pacific Kansas City that will help move potash from its Jansen project in Saskatchewan to Westshore Terminals in Vancouver for export.Both Canadian National and Canadian Pacific will operate unit trains between Jansen and Westshore Terminals under roughly four-year contracts, BHP said.Shares of the mining company dropped 2.4% in London.

$AKTX$AUTL$BHP$CLLS$DAVA$DBVT$EVAX$HSBC$NOK$PUK$SAP$SHEL$SNY$SQNS$TRVG$WPP

European Equities Traded in the US as American Depositary Receipts Rise in Thursday Trading

European equities traded in the US as American depositary receipts were tracking higher late Thursday morning, advancing 0.79% to 1,889.50 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biotech firm Evaxion (EVAX) and software company SAP (SAP), which climbed 10.5% and 5.9% respectively. They were followed by pharmaceutical company Sanofi (SNY) and accommodations booking site trivago (TRVG), which advanced 4.9% and 4.5% respectively.The decliners from continental Europe were led by telecommunications company Nokia (NOK) and semiconductor company Sequans Communications (SQNS), which were down 4.1% and 1.3% respectively. They were followed by biopharmaceutical company DBV Technologies (DBVT) and biopharmaceutical company Cellectis (CLLS), which fell 0.7% and 0.3% respectively.The gainers from the UK were led by biotech company Autolus Therapeutics (AUTL) and communications company WPP (WPP), which rose 7.1% and 5.5% respectively. They were followed by biopharmaceutical company Akari Therapeutics (AKTX) and software firm Endava (DAVA), which were up 3.8% and 1.6% respectively.The decliners from the UK and Ireland were led by insurance company Prudential (PUK) and mining company BHP Group (BHP), which dropped 7.1% and 2.4% respectively. They were followed by lender HSBC (HSBC) and oil and gas company Shell (SHEL), which lost 1.6% and 0.3% respectively.

$ASX$BILI$HDB$HIMX$INFY$LPL$MLCO$MUFG$SE$SHG$TDTH$TLK

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

Asian equities traded in the US as American depositary receipts were higher Thursday morning, up 0.47% at 2,919.14 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by casino and resort operator Melco Resorts & Entertainment (MLCO) and lender Mitsubishi UFJ Financial Group (MUFG), which rose 3.3% and 2.8% respectively. They were followed by online entertainment service Bilibili (BILI) and lender Shinhan Financial Group (SHG), which were up 2.5% and 2.2% respectively.The decliners from North Asia were led by video display maker LG Display (LPL), which dropped 7.8%. It was followed by semiconductor companies Himax Technologies (HIMX) and ASE Technology (ASX), which lost 7.2% and 6.5% respectively.From South Asia, the gainers were led by tech conglomerate Sea (SE) and telecommunications operator Telekomunikasi Indonesia (TLK), which advanced 3.7% and 3.5% respectively. They were followed by lender HDFC Bank (HDB) and IT firm Infosys (INFY), which increased 3% and 2.9% respectively.The lone decliner from South Asia was fintech firm Trident Digital Tech (TDTH), which tumbled 13%.

Dow JonesNasdaq CompositeS&P 500$ARM$AVGO$COST$CRWD$LLY$MRVL$MU$RTX

US Equity Futures Mixed Pre-Bell as Broadcom Falls, Clashes Continue in Middle East

US equity futures were mixed pre-bell Thursday as traders watched tech giant Broadcom's (AVGO) stock drop after the company posted its fiscal Q2 financial results and attacks continued in the Middle East.Dow Jones Industrial Average futures were 0.9% higher, S&P 500 futures were down 0.4%, and Nasdaq futures were 1.2% lower.Broadcom shares were down 15% in premarket activity as the company issued below-consensus guidance for fiscal Q3 AI-chip revenue.Kuwait reported that an Iranian missile and drone strike hit the country's international airport, killing one person and injuring dozens more. Iran claimed that it launched a retaliatory attack on US military bases in Kuwait after an earlier set of airstrikes by US forces.Traders also digested the latest round of earnings, with CrowdStrike (CRWD) posting higher fiscal Q1 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3% at $94.89 per barrel and US West Texas Intermediate crude 3.2% lower at $92.97 per barrel.The weekly jobless claims bulletin, released at 8:30 am ET, showed 225,000 new unemployment claims for the week ended May 2, compared with the downwardly revised figure of 212,000 in the prior week, and it came in above the 215,000 expected, according to estimates compiled by Bloomberg. Q1 nonfarm productivity increased at a 0.3% annual rate, below forecasts for 0.4%, while unit labor costs increased 1.8%, compared with the 2.4% expected.Federal Reserve Richmond President Thomas Barkin and San Francisco President Mary Daly are slated to speak on Thursday.In other world markets, Japan's Nikkei closed 1.4% lower, Hong Kong's Hang Seng ended 1.5% lower, and China's Shanghai Composite finished 0.6% lower. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was 0.6% higher in Europe's early afternoon session.In equities, CrowdStrike stock was down 10% after the company reported its fiscal Q1 financial results. ARM (ARM), Micron Technology (MU), and Marvell Technology (MRVL) shares were all down as part of a broader stock sell-off in the semiconductor industry. ARM shares fell 6%, Micron stock was down 6.4%, and Marvell shares dropped 5.9%.On the winning side, Eli Lilly (LLY) was up 1.3% after Ascidian Therapeutics said the company will receive exclusive, target-specific rights to Ascidian's RNA exon editing technology for undisclosed kidney disease targets in exchange for up to $1.9 billion under a new research partnership and licensing agreement. Costco Wholesale (COST) shares rose 2.3% after the company reported net sales of $24.01 billion for May, up from $20.97 billion a year earlier. RTX (RTX) stock was up 2.2% after the company said that its Raytheon unit was awarded a $515 million contract from the US Navy for the SPY-6 family of radars.

Saudi Equities End Week Lower; Lebanon, Israel Agree to Ceasefire Deal

The Tadawul Share All Share Index closed out the week lower at 0.11% in the red on Thursday as investors digested the latest updates on the Middle Eastern conflict.Lebanon and Israel agreed to a new ceasefire deal that was mediated by the US, Reuters reported. The new agreement is set to take effect within 24 hours. However, Israel said that it will continue its attacks on Hezbollah facilities in Lebanon, with the strikes in the Southern region of the country resulting in one fatality.Against this backdrop, the US House of Representatives voted for a war powers resolution that would potentially block President Donald Trump from continuing the conflict with Iran. The resolution will now be passed by the Senate, which must also approve the legislation."There was little clarity from Trump himself, who said the negotiations could complete over the weekend but could go on another two, three weeks. So tensions seemed to be ratcheting up again, and hopes for a durable peace deal continued to decline. Meanwhile, CNN reported yesterday that one of the key sticking points was monetary compensation for Iran. Otherwise, the US House of Representatives did vote against the Iran war in a 215-208 vote yesterday, after four Republicans joined with the Democrats. But in practice that won't end the military conflict, as the Senate would also need to pass it, and Trump could issue a veto as well," Deutsche Bank Research said in a note.Back at home, Saudi Vitrified Clay Pipes (SASE:2360) ticked down 0.81% as it entered into a 15-month deal to supply vitrified clay pipes, fittings, and accessories for a sewage networks project. The equipment will be used for the second phase of the Sabya Villages project.Meanwhile, the board of Marketing Home Group for Trading Co. (SASE:4194), d/b/a Build Station, resolved to distribute a dividend of 2.25 Saudi riyals per share for the first quarter. It will pay the dividend on June 16 to shareholders on record as of June 8. Shares of the trade and development company surged 9.98% at closing.

^TASISASE:2360SASE:4194

^DFMGI^FADGIADX:FABDFM:TABREED

Emirati Stocks Rebound on Lebanon-Israel Ceasefire

Stocks in the United Arab Emirates recovered from two straight days of losses on Thursday as the ceasefire agreement between Lebanon and Israel sparked investors' hopes for a broader peace deal between the US and Iran.At the close of trading, the FTSE ADX General Index was little changed at 0.03% in the green, while the DFM General Index gained 0.564%."The geopolitical headlines have become slightly more positive this morning, with oil prices falling back after the US said that Israel and Lebanon agreed to a ceasefire. That ceasefire is conditional on Hezbollah also stopping fighting, but in theory, the news helps to take out a key sticking point in the US-Iran talks that was holding up a deal," Deutsche Bank Research said.Despite the US-brokered ceasefire, Israel attacked southern Lebanon on Thursday, Reuters reported, citing security sources. Israeli Minister of Defense Israel Katz said that the strikes would continue for the time being without withdrawing forces from the region.Closer to home, the Abu Dhabi government implemented a temporary freeze on all rent increases, setting the annual rental cap increase to 0% across all residential and industrial properties.Over to corporates, First Abu Dhabi Bank (ADX:FAB) shares closed 0.37% higher as it partnered with Water.org and its affiliated impact investment manager WaterEquity to invest in the WaterEquity Everspring Fund. The investment is part of the lender's efforts to advance water and sanitation security globally.Meanwhile, Dubai-listed National Central Cooling Co. (DFM:TABREED), d/b/a Tabreed, stocks closed the session 1.93% higher. The district cooling services company named Atef Mohamed Awadh AlBreiki as its new chief asset management officer, effective immediately.

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

Exchange-Traded Funds Lower as US Equities Fall After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) eased 0.5%.US equity indexes declined while crude oil futures jumped as Iran struck Gulf nations Kuwait and Bahrain with missiles amid faltering diplomacy with Washington.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 2.2%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was 1.3% lower; iShares US Technology ETF (IYW) lost 1.1%, and iShares Expanded Tech Sector ETF (IGM) was down 1%.The State Street SPDR S&P Semiconductor (XSD) climbed up 1%, and iShares Semiconductor (SOXX) rose 1.3%.FinancialThe State Street Financial Select Sector SPDR (XLF) fell 1.2%. Direxion Daily Financial Bull 3X Shares (FAS) declined 3.7%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), climbed up 3.6%.CommoditiesCrude oil rose 2.3%, and the United States Oil Fund (USO) added 2.3%. Natural gas gained 1.9%, and the United States Natural Gas Fund (UNG) was up 2%.Gold on Comex fell 1.2%, and the State Street SPDR Gold Shares (GLD) was down 1.1%. Silver slipped 2.7%, and iShares Silver Trust (SLV) lost 2.5%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 0.9%. The Vanguard Consumer Staples ETF (VDC) added 1%, and iShares Dow Jones US Consumer Goods (IYK) gained 1%.The State Street Consumer Discretionary Select Sector SPDR (XLY) shed 1.1%. VanEck Retail ETF (RTH) eased 0.1%, and the State Street SPDR S&P Retail (XRT) fell 1.1%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 1%, iShares US Healthcare (IYH) added 1%, and Vanguard Health Care ETF (VHT) was up 1%. IShares Biotechnology ETF (IBB) advanced 1.3%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) gained 0.3%. Vanguard Industrials Index Fund (VIS) eased fractionally, while iShares US Industrials (IYJ) dipped 0.3%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 2.1%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 2.1%, ProShares Ether ETF (EETH) shed 4.5%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 2.4% lower.

Swiss Market Index Drops as US-Iran Ceasefire Hopes Fade

The Swiss Market Index ended Wednesday trading 0.66% lower after the US and Iran exchanged fresh strikes overnight, dampening investor sentiment and casting doubt on the prospects for a temporary peace deal.The US Central Command said US forces launched "self-defense strikes" on Qeshm Island in the Strait of Hormuz "in response to attempted attacks by Iran across the Middle East." It added that Tehran fired missiles at Kuwait and Bahrain, which broke apart or were immediately intercepted. Meanwhile, Iran's foreign ministry "strongly condemned" the US attack on the Iranian tanker and Qeshm, Bloomberg News reported.In trade news, Switzerland is one of the 60 countries facing additional US tariffs following an investigation into imports of goods allegedly made with forced labor. The proposed additional duties range from 10% to 12.5%."[The] results of this investigation indicate that the acts, policies and practices of Switzerland related to the failure to impose and effectively enforce a forced labor import prohibition are unreasonable and burden or restrict U.S. commerce," according to a report by the US Trade Representative.On the corporate front, Partners Group (PGHN.SW) is limiting withdrawals at its $8.6 billion Global Value SICAV fund to 5% of net asset value per quarter, following a surge in redemption requests in the second quarter, Bloomberg News reported, citing a letter to investors it saw. The private equity firm sank 16.33% at close.Meanwhile, Nestlé (NESN.SW), which owns a 49% stake in yfood Labs, agreed to buy the remaining stake in the smart food brand from its founders for an undisclosed sum. The share transfer is expected July 3, subject to customary approvals. The food and beverage giant was down 0.62%.The Swiss government is due to release inflation and labor data on Thursday.

^SSMI$NESN.SW$PGHN.SW

German Shares Retreat Amid US-Iran Clashes, Fresh Tariff Threats

Germany's blue-chip DAX index closed 1.31% lower on Wednesday, amid reignited tensions in the Middle East and new tariff warnings from the US.Deutsche Bank Research noted "increasing pessimism" over a swift US-Iran agreement to reopen the Strait of Hormuz following overnight hostilities. The escalations involved US strikes on Qeshm Island and reciprocal Iranian missile and drone deployments targeting Kuwait and Bahrain."Prior to that, we saw little sign yesterday of concrete steps towards an imminent deal... This backdrop means [West Texas Intermediate] crude is now $7 [per barrel] above Friday's close, with a +0.92% rise at $94.62/bbl overnight," Deutsche Bank wrote.On the trade front, Washington proposed new 10% to 12.5% tariffs on 60 economies, including the European Union, following an investigation into the import of goods allegedly produced with forced labor.Back home, final business survey data showed that Germany's private sector remained in contraction territory for a second consecutive month, as surging cost pressures and muted demand further eroded service sector activity. S&P Global said the final Germany Composite PMI Output Index ticked up to 48.8 in May from 48.4 a month ago, surpassing the flash estimate of 48.6 but remaining below the 50-point neutral mark. Final services PMI was 48.1, against the preliminary estimate of 47.8 and the prior month's 46.9."Demand for services continues to be stifled by a squeeze on spending power from the increased cost of energy and heightened levels of uncertainty, although, encouragingly, the rates of decline in business activity and new work eased, offering hope that any downturn in the economy in Q2 would be only modest," S&P Global Market Intelligence economics associate director Phil Smith said.On the corporate side, Bloomberg reported comments from Deutsche Bank (DBK.F) Chief Financial Officer Raja Akram, who said the German lender anticipates second-quarter credit loss provisions to come in slightly above market expectations. Speaking at an investor conference, Akram clarified that the 100 million-euro provision for the three months through June still represents a sequential drop compared with the first quarter. Deutsche Bank was down 3.65% at closing.

^DAX$DBK.F

European Stocks Close Lower; PMI Signals Possible Q2 Contraction

European stock markets closed lower Wednesday as the Stoxx Europe 600 fell 0.7%, Germany's DAX 40 shed 1.3%, the FTSE 100 declined 0.4%, and France's CAC 40 and the Swiss Market Index each dropped 0.7%.The seasonally adjusted S&P Global Eurozone Composite PMI Output Index, which gauges private sector business activity, declined to 48.5 in May from 48.8 in April, the sharpest downturn in 18 months."With business activity in the eurozone falling for a second successive month in May, it is looking increasingly likely that the economy will slip into contraction" in Q2, S&P Global Market Intelligence Chief Business Economist Chris Williamson said in a statement. "The PMI data are indicating a 0.2% quarterly GDP decline barring any significant change in June."In corporate news, Novo Nordisk launched its Wegovy oral tablet in the United Arab Emirates and plans to expand to select additional markets in H2.Shares of the Danish pharmaceutical company dropped 2.1% in Copenhagen.Stellantis will produce three new electric and hybrid Peugeot models at its Mulhouse facility in eastern France from 2029 as part of its STLA One platform, Reuters reported Tuesday.CEO Antonio Filosa said the company targets 2 million vehicles annually on the STLA One platform by 2035, the report said.Shares of the automaker lost 4.2% in Paris.Ericsson's Vonage launched industry-specific AI agents for healthcare, financial services and retail contact centers.Shares of the Swedish telecommunications company fell 0.3% in Stockholm.Deutsche Bank may set aside more money for loan losses than analysts expected in Q2, though provisions are expected to be lower than in the previous quarter, Bloomberg News reported, citing Chief Financial Officer Raja Akram.Shares of Deutsche Bank fell 3.6% in Frankfurt.

UK Shares Fall as Private Sector Activity Declines; Howden Joinery Shines

London's FTSE 100 closed 0.40% lower on Wednesday as Britain's private sector economy contracted for the first time since April 2025, while the US threatened additional tariffs on goods allegedly made with forced labor.As a sharper decline in service sector output more than offset accelerating manufacturing production, S&P Global UK Composite PMI fell to a 13-month low of 49.7 in May from 52.6 in April, final data showed. The flash estimate stood at 48.5."Many service sector companies noted that the Middle East conflict had an adverse impact on sales pipelines and general business prospects. Those in the hospitality and transportation sectors typically commented on squeezed discretionary spending and pressure from sharply rising input costs, while professional services firms reported a setback from rising risk aversion among clients. Business investment spending on technology services remained a bright spot for parts of the service economy, however," S&P Global Market Intelligence Economics Director Tim Moore said.Rising oil prices and the latest exchange of hostilities between the US and Iran also weighed on the global market. "Starting with the Middle East, we've seen increasing pessimism that a US-Iran deal to re-open the Strait of Hormuz is imminent," Deutsche Bank Research said. "New clashes took place overnight as US forces conducted strikes against Qeshm Island while Iran fired missiles and drones towards Kuwait and Bahrain, with the IRGC saying it targeted the US 5th Fleet headquarters in Bahrain. Meanwhile, further Israel-Lebanon talks are expected today, according to the US."In corporate news, Howden Joinery Group (HWDN.L) climbed 3.18% after agreeing to buy the holding company of vertically integrated online kitchen business Ultima Furniture Systems, d/b/a DIY Kitchens. The British specialist trade kitchen and joinery supplier is purchasing the business at an enterprise value of 390 million pounds sterling.B&M European Value Retail (BME.L) surged 14.60% as profit after tax for the 52 weeks ended March 28 dropped to 164 million pounds from 319 million pounds a year ago, while the discount retailer's revenue increased to 5.78 billion pounds from 5.57 billion pounds, supported by new store openings.Looking ahead, S&P Global Construction PMI data for May is due on Thursday, while the Halifax House Price Index for the same month is expected on Friday.

FTSE 100$BME.L$HWDN.L

$ARGX$AUTL$BCS$CLLS$CRTO$DAVA$E$EQNR$EVAX$MREO$NCNA$NOK$SAP$SLN$SNN$WPP

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

European equities traded in the US as American depositary receipts were declining late Wednesday morning, falling 0.58% to 1,880.17 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by telecommunications company Nokia (NOK) and petroleum refiner Equinor (EQNR), which rose 2.1% and 1.3%, respectively. They were followed by oil and gas company Eni (E) and biopharmaceutical company argenx (ARGX), which were up 1% and 0.5%, respectively.The decliners from continental Europe were led by internet ad firm Criteo (CRTO) and biopharmaceutical company Cellectis (CLLS), which fell 7% and 4.7%, respectively. They were followed by biotech firm Evaxion (EVAX) and software company SAP (SAP), which were down 4.6% and 4.5%, respectively.The gainers from the UK were led by Mereo BioPharma Group (MREO), which advanced 5.6%. It was followed by pharmaceutical company Silence Therapeutics (SLN) and medical device maker Smith & Nephew (SNN), which increased 4.8% and 2%, respectively.The decliners from the UK and Ireland were led by communications company WPP (WPP) and software company Endava (DAVA), which dropped 4.5% and 4.4%, respectively. They were followed by lender Barclays (BCS) and biotech firm Autolus Therapeutics (AUTL), which lost 2.4% and 1.7%, respectively.

$CAN$DXF$HDB$HMC$IBN$INFY$IQ$MUFG$QFIN$SIFY$SMFG$TDTH$TIGR$YI

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

Asian equities traded in the US as American depositary receipts were tracking lower Wednesday morning, declining 0.77% to 2,920.23 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by real estate management and digital security firm Eason Technology (DXF) and automotive company Honda Motor (HMC), which climbed 17.9% and 4.7% respectively. They were followed by lenders Mitsubishi UFJ Financial Group (MUFG) and Sumitomo Mitsui Financial Group (SMFG), which advanced 1.8% and 1.5% respectively.The decliners from North Asia were led by fintech company Qfin (QFIN) and healthcare platform 111 (YI), which fell 5.2% and 4.4% respectively. They were followed by entertainment streaming service iQIYI (IQ) and online brokerage UP Fintech (TIGR), which lost 4.2% and 3.3% respectively.From South Asia, the only gainers were lenders ICICI Bank (IBN) and HDFC Bank (HDB), which rose 1.7% and 1.1% respectively.The decliners from South Asia were led by fintech firm Trident Digital Tech (TDTH) and IT firm Sify Technologies (SIFY), which dropped 12.5% and 4.8% respectively. They were followed by IT firm Infosys (INFY) and computer hardware maker Canaan (CAN), which were down 4.5% and 3.5% respectively.

Tadawul Shares Close Lower on Wednesday; Saudi Arabia's PMI Shows 'Notable Improvement' in May

The Tadawul Share Index closed Wednesday 0.12% in the red as the geopolitical tensions in the Middle East overshadowed the cheer about the continued growth of Saudi Arabia's non-oil private sector.The Riyad Bank Purchasing Managers' Index, a closely watched survey of the kingdom's business conditions, grew to 52.8 in May from 51.5 in the prior month. Data showed an uptick in market demand and output."The improvement was mainly driven by stronger output and new orders, supported by improving domestic demand and the restart of previously delayed projects. Firms reported better business conditions during May, with output growth reaching its strongest level in three months," Riyad Bank Chief Economist Naif Al-Ghaith commented. "Employment also returned to growth, while purchasing activity improved for the first time since February, reflecting rising confidence among businesses regarding future demand conditions."Dampening sentiment is Iran's missile and drone strikes in Kuwait. The incident resulted in damage at the Kuwait International Airport and at least one casualty. The US, meanwhile, also launched attacks on Qeshm Island near the Strait of Hormuz.Back at home, the Office of the US Trade Representative proposed to impose additional US duties between 10% and 12.5% on Saudi Arabia after a Section 301 investigation. The investigation found that the Middle Eastern country did not impose or effectively implement prohibitions on the importation of products made using forced labor.On the corporate front, Retal Urban Development (SASE:4322) secured a contract to act as the exclusive development manager of the Retal Heights project in Riyadh. Shares of the real estate developer closed flat.

^TASISASE:4322

^DFMGI^FADGIADX:TAQADFM:DU

UAE Stocks Fall Amid Modest Non-oil Private Sector Growth

United Arab Emirates equities ended Wednesday's trading session in the red as investors dissected the latest data from the country's non-oil private sector.At the close of trading, the FTSE ADX General Index was down 0.406%, while the DFM General Index declined 0.801%.The S&P Global UAE PMI increased to 52.6 in May from 52.1 in April, staying well below its long-run average of 54.3. While operating conditions improved, growth remained subdued with a decline in export orders, and cost pressures rose amid the ongoing regional developments and supply chain disruptions due to the continued closure of the Strait of Hormuz."The continued cut-off to maritime trade had a cascading effect through the UAE economy in May. Input deliveries were delayed to the greatest extent since the height of the COVID-19 pandemic in April 2020, with some firms reporting that disruptions to manufacturing production schedules fed through to other sectors," S&P Global Market Intelligence senior economist David Owen said. "Positively, the longer-term outlook remained strong in May, suggesting that businesses still view these current challenges as temporary and expect growth to bounce back quickly."On the geopolitical front, the US and Iran exchanged fresh strikes overnight, while further talks between Lebanon and Israel are expected to take place on Wednesday.Back home, Abu Dhabi National Energy Co. (ADX:TAQA), d/b/a Taqa, in a consortium with Aljomaih Energy and Water Co. and Sembcorp Industries, secured the Taweelah C independent power producer project in Abu Dhabi from Emirates Water and Electricity Co. Shares of the energy company closed the session 1.72% lower.Meanwhile, in Dubai, stocks of Emirates Integrated Telecommunications Co. (DFM:DU) d/b/a du, ended flat. The telecommunications company launched a $50 million corporate venture fund to invest in fintech, artificial intelligence, and cybersecurity companies as part of its strategy to enhance its core activities.

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

US Equity Indexes Edge Up, Crude Oil Jumps Amid Reports Talks Continuing to Reach Israeli-Hezbollah Truce in Lebanon

US equity indexes ground higher while crude oil futures jumped as media reports claiming that parts of Lebanon remain under Israeli attack added to confusion surrounding the status of peace talks between Washington and Tehran.The Nasdaq Composite rose less than 0.1% to 27,093.90, giving up most of its intraday gains at the close on Tuesday. The S&P 500 edged up 0.1% to 7,609.78, and the Dow Jones Industrial Average climbed 0.5% to 51,307.79.Utilities, materials, and industrials were among the top gainers, while communication services led the decliners.The fourth round of talks between Israel and Lebanon is underway in Washington, DC, where Lebanese negotiators hope to secure a halt to attacks on and occupation of the south, Al Jazeera reported Tuesday. The Israeli army has carried out several attacks on the southern Lebanese Nabatieh governorate, the news report said.Iran stopped communicating with mediators about extending a ceasefire in the war with the US and Israel, two semiofficial Iranian news agencies reported Tuesday, but President Donald Trump disputed the claim and said talks were continuing, according to Associated Press.Iranian media outlets have signaled talks between Tehran and Washington are ongoing, a day after reports that Iran suspended them, CNN reported Tuesday. The country's top negotiator has, however, threatened escalation if Israel's attacks on Lebanon continue, the news report added.Washington won't remove sanctions on Iran in exchange for a full reopening of Hormuz, adding that any sanctions relief is conditioned on Iran giving up enriched uranium, Al Jazeera cited US Secretary of State Marco Rubio as saying on Tuesday at a Senate hearing.Brent crude futures climbed 0.9% to $95.87, and West Texas Intermediate crude oil futures jumped 1.4% to $93.48. Both crude types were lower by more than 1% each earlier in the session.US Treasury yields fell, with the 10-year down 2.6 basis points to 4.45%. The two-year declined less than one basis point to 4.05%.In precious metals, gold futures edged up 0.3% to $4,519.40, and silver futures climbed 0.3% to $75.49.Shares of Hewlett Packard Enterprise (HPE) surged by more than 19%, the top gainer on the S&P 500, after the tech giant reported fiscal Q2 earnings ahead of analysts' forecasts.Marvell Technology's (MRVL) shares soared over 32%, the biggest outperformer on the Nasdaq, after multiple news outlets reported that Nvidia (NVDA) chief executive officer Jensen Huang called the chipmaker the next "trillion-dollar company."In economic news, US job openings rose to 7.618 million in April, according to the Bureau of Labor Statistics, above the 6.866 million expected in a Bloomberg-compiled poll and up from the 6.887 million reported in March. The April print represents 4.6% of total employment, up from 4.2% in March and 4.3% a year earlier. It is also the highest since May 2024, Stifel said in a note.The ratio of job openings to unemployed people -- a figure the Federal Reserve officials closely watch as a proxy for the balance between labor supply and demand -- rose to 1.03 in April from 0.95 in March, the highest since January 2025, suggesting that there are more jobs available for every person unemployed, per the Stifel note.Redbook US same-store sales rose by 9% from a year earlier in the week ended May 30, the same pace as in the previous week. "Customers remain highly value-driven and price sensitive," Redbook said in a note.

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

US Equity Indexes Edge Up as Trump Pushes for Israel-Hezbollah Ceasefire, Technology Extends Gains

US equity indexes ground higher as investors weighed Israel and Hezbollah's response to President Donald Trump's call to stop fighting in Lebanon, while technology extended gains amid strong jobs data.The Nasdaq Composite edged up less than 0.1% to 27,100.7, with the S&P 500 advancing 0.1% to 7,606.6, and the Dow Jones Industrial Average higher by 0.2% to 51,203.4.Utilities, energy, and technology were among the gainers intraday, while communication services led the decliners.Trump said he believes a deal to reopen the Strait of Hormuz and extend the ceasefire with Iran is reachable "over the next week," CNN reported Tuesday. The fourth round of talks between Israel and Lebanon is underway in Washington, DC, where Lebanese negotiators hope to secure a halt to attacks on and occupation of the south, Al Jazeera reported on the same day.Lebanese authorities said Hezbollah, an Iran-backed militant group, agreed to a US proposal for a ceasefire with Israel in which strikes on Beirut would stop, CNN reported. Trump declared Israeli forces would not move on Beirut after a call with Prime Minister Benjamin Netanyahu, the news report said.Meanwhile, Washington won't remove sanctions on Iran in exchange for a full reopening of Hormuz, adding that any sanctions relief is conditioned on Iran giving up enriched uranium, Al Jazeera cited US Secretary of State Marco Rubio as saying on Tuesday.Brent crude futures climbed 0.8% to $95.78, and West Texas Intermediate crude oil futures climbed 1.2% to $93.27. Both crude types were lower by more than 1% each earlier in the session.US Treasury yields fell, with the 10-year down two basis points to 4.46%. The two-year declined less than one basis point to 4.05%.In precious metals, gold futures edged up 0.3% to $4,519.20, and silver futures climbed 0.7% to $75.78.Shares of Hewlett Packard Enterprise (HPE) surged 15%, among the top gainers on the S&P 500, after the tech giant reported fiscal Q2 earnings ahead of analysts' forecasts.Marvell Technology's (MRVL) shares soared 29%, the biggest outperformer on the S&P 500, after multiple news outlets reported that Nvidia (NVDA) chief executive officer Jensen Huang called the chipmaker the next "trillion-dollar company."In economic news, US job openings rose to 7.618 million in April, according to the Bureau of Labor Statistics, above the 6.866 million expected in a Bloomberg-compiled poll and up from the 6.887 million reported in March. The April print represents 4.6% of total employment, up from 4.2% in March and 4.3% a year earlier.Redbook US same-store sales rose by 9% from a year earlier in the week ended May 30, the same pace as in the previous week. "Customers remain highly value-driven and price sensitive," Redbook said in a note.

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

Exchange-Traded Funds Rise as US Equities Advance After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were higher. Actively traded Invesco QQQ Trust (QQQ) rose 0.3%.US equity indexes were higher after midday Tuesday, with technology extending gains, as investors weighed the response from Israel and Hezbollah to President Donald Trump's call to stop fighting in Lebanon.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 1.4%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was 0.6% higher; iShares US Technology ETF (IYW) rose 0.5%, and iShares Expanded Tech Sector ETF (IGM) was up 0.7%.The State Street SPDR S&P Semiconductor (XSD) climbed up 4.8%, and iShares Semiconductor (SOXX) edged up 4.5%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) rose 0.3%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), slipped 0.2%.CommoditiesCrude oil rose 1.2%, and the United States Oil Fund (USO) added 0.9%. Natural gas dropped 0.8%, and the United States Natural Gas Fund (UNG) was down 1%.Gold on Comex gained 0.3%, and the State Street SPDR Gold Shares (GLD) was up 0.2%. Silver rose 0.6%, and iShares Silver Trust (SLV) added 0.9%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) lost 0.2%. The Vanguard Consumer Staples ETF (VDC) fell 0.2%, and iShares Dow Jones US Consumer Goods (IYK) eased fractionally.The State Street Consumer Discretionary Select Sector SPDR (XLY) shed 0.3%. VanEck Retail ETF (RTH) fell 0.5%, and the State Street SPDR S&P Retail (XRT) rose 0.4%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) lost 1.1%, iShares US Healthcare (IYH) fell 1.2%, and Vanguard Health Care ETF (VHT) was down 1.3%. IShares Biotechnology ETF (IBB) declined 3.1%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 0.6%. Vanguard Industrials Index Fund (VIS) rose 0.6%, while iShares US Industrials (IYJ) gained 0.2%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 5.6%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 5.9%, ProShares Ether ETF (EETH) shed 4.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 5.7% lower.