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US Equity Futures Mostly Lower Pre-Bell Amid Continued Middle East Standoff, AI Spending Concerns

US equity futures were mostly lower pre-bell Tuesday as the US-Iran standoff continues with no end in sight, while concerns about heavy spending on data centers were brought into focus amid reports of OpenAI's missed targets.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were down 0.8%, and Nasdaq futures were 1.4% lower.President Donald Trump was unhappy with Iran's latest proposal to end the Middle East conflict, Reuters reported, citing a US official. Iran had proposed to reopen the Strait of Hormuz by deferring nuclear talks to a later date, while Trump wants nuclear issues dealt with from the outset.Microsoft-backed (MSFT) OpenAI recently missed internal targets for new users and revenue, raising concerns among company leaders about being able to support its massive spending on data centers, according to a Wall Street Journal report that cited sources familiar with the matter.Traders digested the latest round of earnings. Coca-Cola (KO) reported higher Q1 adjusted earnings and revenue, while Novartis (NVS) posted a decline in Q1 core earnings and net sales.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.5% at $104.21 per barrel and US West Texas Intermediate crude 3.6% higher at $99.84 per barrel.The February S&P Case-Shiller home price index, scheduled for release at 9 am ET, is expected to show a 0.2% gain following a similar increase in the preceding month, according to estimates compiled by Bloomberg.The April consumer confidence index, due at 10 am ET, is projected to fall to 89.0 from 91.8.In other world markets, Japan's Nikkei closed 1% lower, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, Microsoft, which is OpenAI's biggest investor, and Oracle (ORCL), which relies on the ChatGPT creator for its cloud computing plans, saw their shares decline 1.3% and 7.6%, respectively. Novartis stock was down 1.4% after the company released its Q1 financial results.On the winning side, Eni (E) stock was up 2.7% after the European energy firm and Repsol said they are planning to boost output at Venezuela's Cardon IV offshore gas field, according to a Reuters report. Bed Bath & Beyond (BBBY) shares were up 29% after the company reported a narrower Q1 adjusted loss and higher revenue. Coca-Cola stock was up 3% after the company published its Q1 financial results.

$^DJI$^IXIC$^SPX$BBBY$E$KO$MSFT$NVS$ORCL

Asia Markets11d ago

UAE Shares Diverge as Oil Prices Rise Amid Uncertainty Over US-Iran Conflict

Emirati shares struggled to find direction on Tuesday as continued uncertainty over the reopening of the Strait of Hormuz drove oil prices up.At the close of trading, the FTSE ADX General Index was little changed at 0.080% in the green, while the DFM General Index was down 0.218%.According to reports from various media outlets, US President Donald Trump is not satisfied with Iran's new proposal, which consisted of reopening the Hormuz waterway and postponing negotiations over its nuclear program to a later stage."We doubt that the US will go for this, since the US's economic blockade of the Iran remains its key 'pressure tactic' in making Iran concede to the US's fundamental demands pertaining to Iran's power. Yet that it is Iran that is making the proposal suggests that the pressure from the US's economic blockade is being felt, and that the US may not need to invoke its military power again," Macquarie said in a note. " To the US administration, the economic blockade of Iran is intended to have that very effect, i.e., of causing revenue losses that lead to monetary inflation and, ultimately, instability within the regime, and leading to concessions from Iran on the fundamental issues that the US has raised."As of 3:51 pm UAE time, the Brent crude oil futures stood at nearly $112.374 per barrel, up 3.81% from the previous day.Back home, the local economic calendar will see the release of the interest rate decision from the Central Bank of the United Arab Emirates later in the week, following the US Federal Reserve's verdict on its federal funds rate on Wednesday.In corporate news, Aldar Properties (ADX:ALDAR) released its first-quarter earnings report. The real estate developer reported a 12% annual growth in its revenue but closed the trading session 0.37% in the red.Elsewhere, shares of Dubai Investments (DFM:DIC) lost 0.97%. The Dubai-listed investment company declared plans to sell a 24% stake in its unit, Dubai Investments Park, through an initial public offering and distribute improved dividends in 2026, subject to completion of the offering.

$^DFMGI$^FADGI$ADX:ALDAR$DFM:DIC

Asia Markets11d ago

US Equity Indexes Mixed Ahead of Trump's Response to Iran's New Peace Proposal

US equity indexes were mixed on Monday, while crude oil futures rose with government bond yields, as investors awaited President Donald Trump's response to Iran's new peace proposal offering safe passage through the Strait of Hormuz.The Nasdaq Composite rose 0.2% to 24,887.10, and the S&P 500 edged up 0.1% to 7,173.91, each hitting an intraday record high ahead of big-tech quarterly results due mid-week. The Dow Jones Industrial Average fell 0.1% to 49,167.79.Iran has made a new offer to stop its attacks on ships in Hormuz in exchange for a full end to the war, including the US's lifting of its naval blockade of Iranian ports and the postponement of nuclear negotiations, The Wall Street Journal reported, citing officials familiar with the matter.Iranian Foreign Minister Abbas Araghchi presented the offer during his tour of the region and Pakistan over the weekend. Trump discussed the proposal with his national security team on Monday, White House press secretary Karoline Leavitt said. The president earlier said negotiations with Iran could happen over the phone instead of in person."We doubt that the US will go for this, since the US's economic blockade of Iran remains its key 'pressure tactic' in making Iran concede to the US's fundamental demands pertaining to Iran's power," Thierry Wizman, global foreign-exchange and rates strategist at Macquarie, said in a note.West Texas Intermediate crude oil futures rose 2.2% to $96.48, and Brent crude futures advanced 2.6% to $108.09.In precious metals, gold futures fell 1% to $4,695.1, and silver futures declined 1.4% to $75.36.Most US Treasury yields rose, with the 10-year up three basis points to 4.34%, and the two-year climbed 2.3 basis points to 3.8%.In company news, Shell (SHEL) agreed to acquire Canadian energy company ARC Resources in a cash-and-stock deal with an enterprise value of US$16.4 billion, as the oil and gas giant looks to increase its exposure to low-cost shale gas and liquids production in Canada's Montney basin.Domino's Pizza (DPZ) reported weaker-than-expected Q1 results, with the company's chief executive officer saying consumer uncertainty and inflation weighed on demand late in the quarter. Shares slumped 8.8%, the worst performer on the S&P 500.Sandisk (SNDK) is expected to post another "strong" quarter and full-year outlook, benefiting from pricing momentum for NAND memory systems, Morgan Stanley said in a note Monday. Shares of Sandisk were up 8.1%, the top gainer on the Nasdaq.In economic news, the Dallas Fed's monthly manufacturing index fell to minus 2.3 in April from minus 0.2 in March, compared with expectations for a 0.8 print. The index indicates faster contraction, in contrast with other regional manufacturing readings already released.

$^DJI$^IXIC$^SPX$DPZ$SHEL$SNDK

Asia Markets11d ago

US Equity Indexes Decline, Crude Oil Jump Amid Stalled Iran Peace Talks

US equity indexes declined in Monday's midday trading as deadlocked negotiations to find a lasting solution for the Iran war pushed crude oil futures higher.The Nasdaq Composite fell 0.2% to 24,785.2, with the Dow Jones Industrial Average lower by 0.1% to 49,172.3. The S&P 500 was little changed at 7,167.6. All sectors except communication services, financials, and utilities fell. Consumer staples and materials led the decliners.In the absence of any face-to-face discussions in Pakistan this weekend, Iran offered a proposal to reopen the Strait of Hormuz and end the war, Axios cited a US official and two people with knowledge of the matter in a news report. That proposal, however, includes postponing nuclear negotiations between the two countries, according to the Axios report.President Donald Trump plans to meet with top national security officials today, according to two sources, to discuss the new Iranian proposal that would reopen Hormuz, CNN reported.Iranian Foreign Minister Abbas Araghchi is in Russia ahead of a meeting with President Vladimir Putin, following meetings in Pakistan and Oman. Araghchi gave Pakistani officials a list of "red lines" to be conveyed to the US, including "nuclear issues and the Strait of Hormuz," according to CNN.West Texas Intermediate crude oil futures jumped 3.4% to $97.62, and Brent crude futures advanced 4.2% to $109.75."Oil continues to grind higher as the Strait of Hormuz remains effectively closed, extending disruptions across the Middle East that continue to tighten the availability of critical commodities - from crude, fuel and gas to metals, fertilizers and petrochemicals," Saxo Bank analysts said in a note."Brent crude trades at a three-week high as efforts to revive peace talks have stalled, with an Iranian proposal reportedly calling for nuclear negotiations to be postponed to a later stage," the analysts said.In precious metals, gold futures dropped 1.2% to $4,683.80, and silver futures declined 1.9% to $75.49, as higher crude oil prices raise inflation concerns.Most US Treasury yields rose, with the 10-year up three basis points to 4.34% and the two-year climbed 3.2 basis points to 3.81%.In company news, Shell (SHEL) agreed to acquire Canadian energy company ARC Resources in a cash-and-stock deal with an enterprise value of $16.4 billion, as the oil and gas giant looks to increase its exposure to low-cost shale gas and liquids production in Canada's Montney basin.Domino's Pizza (DPZ) reported weaker-than-expected Q1 results, with the company's chief executive officer saying consumer uncertainty and inflation weighed on demand late in the quarter. Shares slumped 10%, the worst performer on the S&P 500.Sandisk (SNDK) is expected to post another "strong" quarter and full-year outlook, benefiting from pricing momentum for NAND memory systems, Morgan Stanley said in a note Monday. Shares of Sandisk were up 7.5%, the top gainer on the Nasdaq.In economic news, the Dallas Fed's monthly manufacturing index fell to minus 2.3 in April from minus 0.2 in March, compared with expectations for a 0.8 print. The index indicates faster contraction, in contrast with other regional manufacturing readings already released.

$^DJI$^IXIC$^SPX$DPZ$SHEL$SNDK

Asia Markets11d ago

Exchange-Traded Funds Edge Lower as US Equities Fall After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM and IVV edged lower. Actively traded Invesco QQQ Trust (QQQ) eased 0.1%.US equity indexes declined in midday trading Monday as deadlocked negotiations to end the Iran war and a resulting move higher in crude oil futures hit investor confidence.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each shed about 0.3%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was down 0.3%; iShares US Technology ETF (IYW) rose 0.1% and iShares Expanded Tech Sector ETF (IGM) lost about 0.3%.The State Street SPDR S&P Semiconductor (XSD) declined 3.7%, and iShares Semiconductor (SOXX) was down 1.9%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 2.1%.CommoditiesCrude oil rose 1.9%, and the United States Oil Fund (USO) gained 1.9%. Natural gas was up 2.7%, and the United States Natural Gas Fund (UNG) added 3.2%.Gold on Comex slipped 1.1%, and the State Street SPDR Gold Shares (GLD) fell 0.9%. Silver declined 1.7%, and iShares Silver Trust (SLV) was down 1.1%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) fell 0.7%. The Vanguard Consumer Staples ETF (VDC) shed 0.7%, and iShares Dow Jones US Consumer Goods (IYK) was 0.5% lower.The State Street Consumer Discretionary Select Sector SPDR (XLY) dipped 0.5%. VanEck Retail ETF (RTH) fell 0.4%, while the State Street SPDR S&P Retail (XRT) eased 0.2%.Health CareThe State Street Health Care Select Sector SPDR (XLV) fell fractionally, iShares US Healthcare (IYH) shed 0.1%, and Vanguard Health Care ETF (VHT) was marginally lower. IShares Biotechnology ETF (IBB) fell 0.1%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) slipped 0.2%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) also dropped.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 2.1%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) dipped 1.4%, ProShares Ether ETF (EETH) lost 1.9%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was down 1.5%.

$^DJI$^EEM$^EXI$^FAS$^FAZ$^GLD$^IBB$^IGM$^IGV$^IPK$^IVV$^IWM$^IXIC$^IYE$^IYH$^IYJ$^IYK$^IYW$^PMR$^QQQ$^RTH$^SOXX$^SPX$^SPY$^UNG$^USO$^VDC$^VHT$^VIS$^XLE$^XLF$^XLI$^XLK$^XLP$^XLV$^XRT$^XSD$BETH$BITO$EETH

Asia Markets11d ago

Swiss Market Index Closes Little Changed; Santhera Shares Jump

The blue-chip Swiss Market Index was down 0.03% on Monday's close, as investors gear up for a busy week of corporate updates, economic data prints and key monetary policy decisions.Santhera Pharmaceuticals (SANN.SW) secured a positive recommendation from the European Medicines Agency's Committee for Medicinal Products for Human Use to expand the approval of its Duchenne muscular dystrophy drug Agamree to include the treatment of children who are at least two years old. The drug is currently approved for use on patients aged four and above. The Swiss specialty pharmaceutical company's shares gained 8.38% at closing.Meanwhile, RBC Capital Markets reiterated its outperform rating on Lonza Group (LONN.SW), with a price target of 670 francs, amid expectations that the Swiss pharmaceutical manufacturer's upcoming first-quarter update would be "uneventful." At the end of the trading day, the stock was up 1.83%."We do not see the Q1 qualitative update on 8 May to be a major catalyst for the stock now that Vacaville-specific commentary will no longer be provided, and any further weakness in Specialized Modalities should not be a surprise. We have also taken the opportunity to refresh and add to our commercial product (Enflonsia) and pipeline trackers. There has been some clinical progress, but consensus forecasts have been pushed out a little (aggregate peak sales estimates are unchanged)," the research firm said, noting that it views Lonza as an "attractive and undervalued compounding investment story."The local economic news calendar was empty for the day, while the release of the Swiss KOF Economic Barometer and the UBS & CFA Society Switzerland's economic sentiment index for April, as well as the country's March retail sales figures are on the agenda over the coming days. Market watchers are also awaiting the rate decisions of the US Federal Reserve, the European Central Bank, and the Bank of England.

$^SSMI$LONN.SW$SANN.SW

Asia Markets11d ago

European Stocks Trend Slightly Lower in Monday Trading; Iran Reportedly Proposes Opening Strait of Hormuz if US Ends Blockade, War

The European stock markets were tracking lower in Monday trading amid reports that Iran has proposed reopening the Strait of Hormuz in exchange for an end to the US blockade and the war.The Stoxx Europe was off 0.3%, Germany's DAX was declining 0.2%, the FTSE 100 was down 0.5%, France's CAC was 0.3% lower, and the Swiss Market Index was down 0.2%.And in corporate news, Shell has signed a definitive agreement to acquire ARC Resources in a cash-and-share deal valued at about 22 billion Canadian dollars ($16.17 billion), ARC said Monday. The acquisition is expected to close in H2, ARC said.Under the terms of the deal, ARC shareholders will receive 0.40247 of a Shell share and CA$8.20 in cash consideration in exchange for each ARC share they own, representing a total consideration of CA$32.80 per ARC share.Shares of the British oil and gas giant were down close to 2% in London.The UK's Seagreen wind farm, which is 25.5%-owned by TotalEnergies, has delayed a fixed-price government contract, preferring to sell electricity at higher market rates, Bloomberg reported Monday, citing data that it compiled.Seagreen will delay the contract until fall, instead of starting at the end of March, Bloomberg reported, citing the data. Seagreen is 49%-owned by SSE Renewables, while Thailand's PTTEP owns a 25.5% share, according to TotalEnergies' website.TotalEnergies and SSE did not immediately respond to' requests for comments.Shares of the French oil and gas giant were off 0.4% in Paris.GSK has closed a deal under which Alfasigma acquired the global exclusive rights to develop, manufacture, and commercialize linerixibat, Alfasigma said Monday.Under the deal terms, GSK will receive a $300 million upfront payment plus $100 million for the US Food and Drug Administration approval. GSK is also eligible to receive $20 million upon European Union and UK approval, and up to $270 million in sales-based milestone payments.Shares of the British pharmaceutical company were tracking 0.4% lower in London.Novartis said Monday the European Commission approved Rhapsido for adults with chronic spontaneous urticaria who inadequately respond to traditional antihistamines.Clinical trials demonstrated symptom improvements by the first week with a favorable safety record and no liver issues, the company said.Shares of the Swiss pharmaceutical company were marginally lower in Zurich.Astrazeneca said Monday its Saphnelo Pen has been approved in the US as a once-weekly self-administered subcutaneous treatment of adult patients with systemic lupus erythematosus in addition to standard therapy.The US Food and Drug Administration's approved was based on results from a phase 3 trial.Shares of Astrazeneca were up 0.4% in London.

Asia Markets11d ago

DAX Index Starts Week Lower; German Consumer Sentiment Weakens Further

German equities kicked off the new trading week lower, with the blue-chip DAX index down 0.19% on Monday's close, as markets await interest rate decisions from major central banks due within the week.The US Federal Reserve is set to announce its latest monetary policy move on Wednesday, while the decisions from the European Central Bank and the Bank of England are due Thursday.At home, German consumer sentiment appears to have deteriorated further, with the GfK consumer climate indicator for May 2026 dropping to -33.3 points from the revised -28.1 points a month ago, weighed down by falling income and economic expectations. The reading marks the indicator's lowest level since February 2023 and stands below the Investing.com consensus estimate of -30.2 points."The inflation rate in Germany rose from 1.9 percent to 2.7 percent in March due to rising energy prices caused by the war in Iran, leading the majority of consumers to once again expect price increases. Although the indicator for price expectations rose somewhat less sharply in April than in March- likely due to falling prices at the filling stations, the indicator's level has risen compared to the beginning of the year," the NIM Consumer Climate powered by GfK survey said.Meanwhile, the export outlook in Germany slightly improved as positive expectations roughly offset negative ones amid a high level of geopolitical uncertainty. The ifo Institute's export expectations indicator increased to 0.1 points in April from the previous month's -0.7 points.In corporate news, German officials held informal preliminary talks with European banks to explore the possibility of a new strategic investor purchasing a stake or taking over Commerzbank (CBK.F), unnamed sources reportedly told Bloomberg News. The German government, which holds a 12% stake in Commerzbank, is said to be looking at alternatives to a potential takeover by Italian lender UniCredit, which submitted its offer earlier in 2026. Commerzbank's shares were up 2.39% at closing.

$^DAX$CBK.F

Asia Markets11d ago

UK Shares End Lower Ahead of Central Bank Decisions, Earnings

British equities closed in the red on Monday, with the FTSE 100 down 0.56%, as investors remained cautious ahead of upcoming corporate earnings and key central bank rate decisions, including from the Bank of England."Even if recent data has come in quite solid, the UK labour market is much cooler and the starting point for the Bank Rate at 3.75% is much higher compared to 2022. Hiking rates will have to be weighed against a considerable risk of exacerbating a looming economic contraction. We think it is most likely the BoE will remain sidelined for the foreseeable future," Danske Bank said.Meanwhile, the Confederation of British Industry distributive trades survey's retail sales balance fell to -68% in April from -52% in March. The consensus estimate was -42% for the month, according to Investing.com."With the economic impact of the Iran conflict becoming clearer, firms will be looking to government to recognise that easing cost of living pressures depends on tackling the cost of doing business. For the distribution sector, that means securing appropriate landing zones on the Employment Rights Act, delivering meaningful business rates reform, and exploring further how non-energy policy costs can be removed from electricity bills," CBI lead economist Martin Sartorius said.In corporate news, GSK (GSK.L), down 0.20%, had a busy start to the new week. Aside from completing a license agreement for its cholestatic pruritus treatment, linerixibat, with Alfasigma, the British pharmaceutical giant also secured breakthrough therapy and priority medicines designations in the US and Europe, respectively, for its once-monthly investigational liver therapy, efimosfermin.Meanwhile, the Delaware Chancery Court in the US granted the motion to dismiss filed by AnaptysBio against GSK subsidiary Tesaro, with the latter affirming its view that the anticipatory breach claim is entirely without merit.

$^FTSE$GSK.L

Asia Markets11d ago

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

European equities traded in the US as American depositary receipts were trending lower late Monday morning, down 0.39% to 1,794.56 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by telecommunications company Nokia (NOK) and semiconductor company Sequans Communications (SQNS), which climbed 6.8% and 5.6% respectively. They were followed by 3D printer company Materialise (MTLS) and biopharmaceutical company DBV Technologies (DBVT), which advanced 3.5% and 3.4% respectively.The decliners from continental Europe were led by biotech firm BioNTech (BNTX) and internet browser company Opera (OPRA), which dropped 2.9% and 1.5% respectively. They were followed by oil and gas company Eni (E) and accommodations booking site trivago (TRVG), which lost 1% and 0.7% respectively.The gainers from the UK were led by medical device maker Smith & Nephew (SNN), which rose 1.4%. They were followed by biopharmaceutical company NuCana (NCNA) and biotech firm Autolus Therapeutics (AUTL), which were up 1.3% and 1% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Akari Therapeutics (AKTX) and cruise line operator Carnival (CUK), which fell 6% and 1.6% respectively. They were followed by oil and gas company Shell (SHEL) and hospitality company InterContinental Hotels Group (IHG), which were down 1.4% and 1.2% respectively.

$AKTX$AUTL$BNTX$CUK$DBVT$E$IHG$MTLS$NCNA$NOK$OPRA$SHEL$SNN$SQNS$TRVG

Asia Markets11d ago

Asian Equities Traded in the US as American Depositary Receipts Slightly Lower in Monday Trading

Asian equities traded in the US as American depositary receipts were tracking modestly lower Monday morning, down 0.1% to 2,793.1 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by fintech firm Qfin (QFIN) and mobile app developer Cheetah Mobile (CMCM), which rose 2.1% each, and lender Mitsubishi UFJ Financial Group (MUFG), which was up 1.5%.The decliners from North Asia were led by semiconductor companies Himax Technologies (HIMX) and ASE Technology (ASX), which fell 5.6% and 4.5% respectively. They were followed by computer hardware maker Canaan (CAN) and music streaming service Tencent Music Entertainment Group (TME), which dropped 1.2% and 0.3% respectively.From South Asia, the gainers were led by pharmaceutical company Dr. Reddy's Laboratories (RDY) and lender HDFC Bank (HDB), which advanced 2.4% and 1.2% respectively. They were followed by tech conglomerate Sea (SE) and IT firm Wipro (WIT), which increased 0.6% and 0.3% respectively.The decliners from South Asia were IT firms Sify Technologies (SIFY) and Infosys (INFY), which lost 3.7% and 2.6% respectively.

$ASX$CAN$CMCM$HDB$HIMX$INFY$MUFG$QFIN$RDY$SE$SIFY$TME$WIT

Asia Markets12d ago

Tadawul Shares Extend Winning Streak as Fed Week Starts

Saudi Exchange-traded shares closed higher as investors turned their attention to the latest earnings by Saudi Arabian companies and the US Federal Reserve's highly anticipated interest rate decision on Wednesday.At the close of Monday trading, the Tadawul All Share Index closed in the green at 0.42%. Both Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, and Saudi Kayan Petrochemical (SASE:2350) led the charge at 9.96% at closing.The Fed is widely expected to keep the interest rates steady at its 3.50% to 3.75% range, with market watchers expecting to see clues for the group's next rate and policy moves."The Federal Open Market Committee is expected to keep policy steady next week, so our focus will be on any sign that the committee's assessment of the balance of risks has shifted since the mid-March meeting. There won't be updated economic projections to sort through, so any evidence of a change in FOMC members' thinking will come from the policy statement and Fed Chair Jerome Powell's press conference after the meeting," Oxford Economics said in a note.In other news, Reuters reported, citing sources from Pakistan, that Iran set out a new proposal for its peace talks with the US. The proposal covered guarantees that the US would not start the conflict again, the end of the blockade, among other things.Back at home, Saudia Dairy and Foodstuff (SASE:2270), d/b/a Sadafco, and Saudi Tadawul Group (SASE:1111) logged lower financial results for the first quarter of 2026. Arabian Cement Co. (SASE:3010), meanwhile, posted a 153.81% surge in its net profit and a 5.08% rise in sales.Sadafco and Saudi Tadawul Group closed 2.12% and 3.68% lower, while Arabian Cement shares ticked up 3.57%.

$^TASI$SASE:1111$SASE:2270$SASE:2350$SASE:2380$SASE:3010

Asia Markets12d ago

US Equity Futures Fall Pre-Bell as Middle East Peace Talks Remain Stalled, Iran Reportedly Floats New Peace Offer

US equity futures were marginally lower pre-bell Monday amid reports of Iran's new proposal to reopen the Strait of Hormuz against the backdrop of stalled US-Iran negotiations.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.1% higher.Iran has sent the US a new proposal to reopen the Strait of Hormuz and end the conflict, with nuclear talks deferred to a later date, according to an Axios report citing a US official and two other sources.President Donald Trump cancelled the trip of US special envoy Steve Witkoff and Jared Kushner to Pakistan for negotiations with Iran, saying, "If they want to talk, all they have to do is call!" according to a post on Truth Social on Sunday.Earnings kicked off for the week, with Verizon Communications (VZ) posting higher Q1 adjusted earnings and revenue.Among the companies expected to report quarterly earnings this week are Visa (V), Alphabet (GOOG, GOOGL), Microsoft (MSFT), Amazon (AMZN), Meta Platforms (META), Apple (AAPL), and Berkshire Hathaway (BRK.A, BRK.B).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.8% at $100.86 per barrel and US West Texas Intermediate crude 1.7% higher at $96.05 per barrel.The Dallas Federal Reserve's manufacturing reading will be released at 10:30 am ET.The policy-setting Federal Open Market Committee is scheduled to release a statement 2 pm ET on Wednesday.In other world markets, Japan's Nikkei closed 1.4% higher, Hong Kong's Hang Seng ended 0.2% lower, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was 0.8% higher in Europe's early afternoon session.In equities, Qualcomm (QCOM) shares were up 9.4% after industry checks suggested that Microsoft-backed OpenAI is working with the semiconductor company and MediaTek to develop smartphone processors, according to a TF International Securities analyst. Verizon Communications stock was up 3% after the company reported its Q1 financial results.On the losing side, Domino's Pizza (DPZ) shares were down 7.4% after the company posted fiscal Q1 earnings and revenue that fell short of analysts' estimates.

$^DJI$^IXIC$^SPX$AAPL$AMZN$BRK.A$BRK.B$DPZ$GOOG$GOOGL$META$MSFT$QCOM$V$VZ

Asia Markets12d ago

Emirati Shares Start US Fed Week Upbeat; Dubai Residential REIT Gains

Stocks in the United Arab Emirates kicked off a new trading week in the green as investors shifted their focus to the US Federal Reserve's closely watched interest rate decision due later in the week.At the close of Monday trading, the FTSE ADX General Index added 0.397%, while the DFM General Index gained 0.281%.On the economic calendar this week is the release of the US Fed interest rate decision on Wednesday, with analysts expecting the federal funds rate to remain unchanged within the 3.50% to 3.75% range. Other major central banks in Japan, Canada, and England will also announce their interest rate policies this week."Faced with rising energy prices and higher inflation, and both consumption and employment holding up, the Fed will have to tread carefully to avoid making the mistakes of 2022. There is no way the Fed is in a position to signal the 'all-clear' on inflation, and with equity markets at their highs, the Fed may be inclined to warn of the need for rates to stay unchanged for longer," ING said.On the geopolitical front, US President Donald Trump canceled the visit of his officials to Pakistan scheduled for the weekend, stating that Iran would need to call if they want to continue negotiations. Reuters reported, citing US news outlet Axios, that Iran offered a new proposal to the US to open the Strait of Hormuz and to postpone talks related to the former's nuclear program to a later stage.Back home and on the corporate front, Emirates Driving Co. (ADX:DRIVE) reported a higher attributable profit and a 13% increase in revenue due to high student enrollments. The Abu Dhabi-listed driver training school operator's stocks closed the session 0.67% higher.Dubai Residential REIT (DFM:DUBAIRESI) added 2.61% after its first-quarter revenue jumped 8.4% year-on-year, backed by strong leasing activity and growth in the real estate investment trust's core residential segments.

$^DFMGI$^FADGI$ADX:DRIVE$DFM:DUBAIRESI

Asia Markets12d ago

US Equity Investors to Focus on Mag-7 Earnings, Possibility of Iran War Resolution This Week

US equity investors will focus on mega-cap earnings this week alongside geopolitical developments, especially any possibility of a deal to end the Iran war.* Alphabet (GOOG, GOOGL), Microsoft (MSFT), Amazon (AMZN), Meta Platforms (META), and Apple (AAPL), five out of the seven so-called Magnificent-7 companies will report quarterly earnings this week alongside scores of others. Last week, Intel's (INTC) blowout Q1 reflected the scale of demand for artificial intelligence-related products and services, boosting the S&P 500 and the Nasdaq Composite to record highs.* US President Donald Trump on Sunday reportedly said Iranian authorities "can call" if they want to talk, while reiterating the war could "come to an end very soon." This statement from Trump comes after the president canceled his envoys' trip to Pakistan over the weekend to negotiate a peace deal with Iran.* In the absence of any face-to-face discussions in Pakistan, Iran offered a proposal to reopen the Strait of Hormuz and end the war, Axios cited a US official and two people with knowledge of the matter in a news report. That proposal, however, includes postponing nuclear negotiations between the two countries, according to the Axios report.* Meanwhile, Iran's Foreign Minister Abbas Araghchi is in Russia ahead of a meeting with President Vladimir Putin to discuss the conflict with the US, after Tehran's top diplomat visited with key mediators Pakistan and Oman over the weekend, CNN reported Monday.* The Federal Reserve on Wednesday is certain to keep the federal funds range unchanged at 3.5% to 3.75%, according to the CME FedWatch tool.* Data due this week includes the personal consumption expenditures price index, the Fed's preferred inflation gauge for March, the ISM survey on manufacturing and services activity in April, the Q1 employment cost index, the Q1 gross domestic product advance estimate, and durable goods orders for March.

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Asia Markets12d ago

South Korean Shares Close at New High on Chip, Power Equipment Gains

South Korean shares closed at a new high on Monday, with the primary index crossing the 6,600 level amid a rally led by chip stocks and power equipment manufacturers.The Korea Composite Stock Price Index or Kospi rose 139.4 points, or 2.2%, to end at 6,615.03. The Kosdaq also increased by 22.34 points, or 1.9%, to close at 1,226.18.Shares of chipmakers such as Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) added over 2% and nearly 6% at market close, while those of Kosdaq-listed Fadu (KOSDAQ:440110) jumped over 19%.Gains were also driven by shares of power equipment manufacturers LS Electric (KRX:010120) and Hyosung Heavy Industries (KRX:298040), which added nearly 13% and 11%, respectively.In corporate news, Fadu posted first-quarter net income of 10.2 billion won, rebounding from a net loss of 12.1 billion won a year earlier, according to a Monday filing with the Korea Exchange.The South Korean chipmaker's sales revenue surged 210% year over year to 59.5 billion won from 19.2 billion won.

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Asia Markets13d ago

Saudi Shares Start Week Higher; US-Iran Peace Talks Canceled

The Tadawul All Share Index closed Sunday 0.11% higher as investors assessed the latest updates regarding the conflict in the Middle East.US President Donald Trump said on his Truth Social account that the Pakistani trip for his envoys, Steve Witkoff and Jared Kushner, was canceled. The announcement dimmed the hopes for peace talks between Iran and the US to happen any time soon.Further to this, Israel launched an attack in Lebanon on April 25. The strikes, which targeted Hezbollah, resulted in four casualties and facility damage in Southern Lebanon.Back at home, Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, and Thob Al Aseel (SASE:4012) posted their financial results for the three months ended March 31. Petro Rabigh emerged from a loss in the first quarter, while Thob Al Aseel logged a higher net profit and revenue."The reason for net profit reported during the current quarter compared to a net loss recorded in the same quarter of last year was primarily attributable to improved product margins resulting from stronger refined product pricing and higher sales volumes," Petro Rabigh said in its report.Petro Rabigh rose 10% at closing, while Thob Al Aseel ticked down 1.59%.Meanwhile, the local calendar will be mostly empty except for the kingdom's preliminary figures for its GDP growth rate for the first quarter and the M3 money supply and private bank lending data for March on Thursday.

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Asia Markets14d ago

Nasdaq, S&P 500 Touch All-Time Highs as Intel Lifts Tech, Stage Set for Iran Peace Talks This Weekend

The Nasdaq Composite and the S&P 500 hit records on Friday as Intel's (INTC) blowout Q1 results galvanized the technology sector amid reports that the White House is sending its Iran peace envoys to Pakistan for talks this weekend.The Nasdaq was up 1.6% to 24,836.60, after touching a record 24,854.04 intraday. The S&P 500 was up 0.8% to 7,165.08, after hitting a peak of 7,168.59 earlier in the session. The Dow Jones Industrial Average declined 0.2% to 49,230.71 at the close, as health care, industrials, and financials led the decliners.Intel shares soared 24%, the top gainer on the S&P 500 and the Nasdaq, after the company reported higher fiscal Q1 adjusted earnings and revenue. The chipmaker issued a fiscal Q2 outlook above market expectations. Nvidia (NVDA), Advanced Micro Devices (AMD), and Arm (ARM) were among the biggest outperformers across the S&P 500 and the Nasdaq.Iran's Foreign Minister Abbas Araghchi, the main mediator between Tehran and Washington, arrived in Islamabad, according to The Wall Street Journal. US envoys Steve Witkoff and Jared Kushner will travel to Pakistan on Saturday to participate in direct talks with Iran, CNN cited the White House.There is, however, no confirmation yet that American delegates will meet directly with Araghchi, according to both publications. US Vice President JD Vance will be on standby to travel if there is progress in the negotiations, a White House official told the WSJ.West Texas Intermediate crude oil futures fell 1% to $94.87, while Brent crude futures rose 0.8% to $105.95. Both WTI and Brent were up more than 1.5% each earlier in the session.In precious metals, gold futures rose 0.1% to $4,726.8, and silver futures climbed 0.5% to $75.91, after both traded lower earlier in the session.In economic news, the University of Michigan consumer sentiment index was revised up to 49.8 for April from 47.6 preliminary, compared with expectations for 48.5 in a Bloomberg-compiled survey. The index remains below the final 53.3 print in March. Respondents expected a 4.7% inflation rate over the next year and 3.5% annual inflation over the next five years, up from 3.8% and 3.2%, respectively, in March.US Attorney General for DC Jeanine Pirro said Friday on X that she has ordered her office to close its investigation into Federal Reserve Chair Jerome Powell. The Inspector General for the Federal Reserve has been asked to scrutinize cost overruns related to building construction, Pirro said. The move likely brings Kevin Warsh closer to taking over from Powell next month.Most US Treasury yields fell, with the 10-year slipping 1.5 basis points to 4.31% and the two-year dropping 4.2 basis points to at 3.78%.

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Asia Markets14d ago

US Equity Indexes Mixed This Week as Surging Technology Fails to Outweigh Iran Geopolitics

US equity indexes closed mixed this week, as quarterly earnings helped the technology sector top charts while a failure to hold the second round of Iran peace talks knocked confidence.* The S&P 500 closed at 7,165.08 on Friday, up 0.6% this week, according to data compiled by FactSet. The Nasdaq Composite ended at 24,836.60, rising 1.5% over the past five days. The Dow Jones Industrial Average ended at 49,310.32, down 0.4% from a week ago.* Technology and energy led sector gainers, while health care and financials were among the steepest decliners.* Intel's Q1 galvanized the technology sector as the chipmaker reported blowout results, pushing its shares as high as 25% on Friday. Arm (ARM), Advanced Micro Devices (AMD), and Texas Instruments (TXN) each delivered returns of more than 20% this week.* Investors balked after Tesla (TSLA) unveiled its capital expenditure guidance for 2026, taking the shine off Q1 beats. TechCrunch reported the firm plans to spend $25 billion this year, compared with $8.5 billion in 2025. Tesla's shares ended 5.9% lower this week.* Late Friday, WTI and Brent crude oil futures trading at $94.74 and $105.79, respectively, were higher from a week ago, reflecting mainly the US-Iran's failure to hold the second round of talks in Pakistan earlier this week. The duo remained at an impasse up until Thursday, as Tehran refused to negotiate a peace deal as long as the US Navy continued to blockade its ports and Washington refused to lift the siege.* However, on Friday, news emerged that US envoys Steve Witkoff and Jared Kushner will travel to Islamabad, Pakistan, on Saturday to participate in direct talks with Iran, CNN cited the White House. On the same day, Tehran also announced it is sending Foreign Minister Abbas Araghchi to Pakistan, the news report said. WTI and Brent crude futures traded lower on Friday.

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Asia Markets14d ago

US Equity Indexes Mixed as Intel Boosts Technology, Iran Peace Talks Likely in Pakistan

US equity indexes traded mixed as Intel's (INTC) blowout Q1 results galvanized the tech sector, and crude oil futures dropped following reports that Iran's Foreign Minister Abbas Araghchi and President Donald Trump's envoys will arrive in Pakistan for peace talks this weekend.The Nasdaq Composite jumped 1.5% to 24,802.2, with the S&P 500 up 0.7% to 7,158.3, with semiconductor manufacturers among the top gainers. The Dow Jones Industrial Average, however, declined 0.3% to 49,163.3.Intel shares rose 20%, the top gainer on the S&P 500 and the Nasdaq, after the company reported higher fiscal Q1 adjusted earnings and revenue. The chipmaker issued a fiscal Q2 outlook above market expectations. Nvidia (NVDA), Advanced Micro Devices (AMD), and Arm Holdings (ARM) were among the leaders across both indexes.Araghchi, the main mediator between Tehran and Washington, is set to arrive in Islamabad with a small delegation, Pakistani government sources and an Iranian source told CNN. Pakistan is brokering the talks between Washington and Tehran, seeking an end to the war in Iran and a reopening of the Strait of Hormuz.From the US, President Donald Trump is sending envoys Steve Witkoff and Jared Kushner to Pakistan to participate in talks with Araghchi this weekend, administration officials told CNN.West Texas Intermediate crude oil futures fell 2% to $93.98, and Brent crude futures slipped 0.2% to $104.87 after midday as geopolitical risk receded. Both WTI and Brent were up more than 1.5% each earlier in the session.In precious metals, gold futures rose 0.4% to $4,741.60, and silver futures climbed 1% to $76.84, after both traded lower earlier in the session.The Strait is the chokepoint for exports from Persian Gulf nations, which met 20% of daily global oil demand before the Feb. 28 start to the war, which also trapped shipments of diesel and jet fuel, as well as petrochemical feedstocks and fertilizers."What began as a crude oil supply shock linked to the effective closure of the Strait of Hormuz has now broadened into a multi-commodity disruption," Ole Hansen, head of commodity strategy at Saxo Bank, said in a note. "The implications are no longer confined to energy markets alone but are spreading into industrial production, transportation, and ultimately agriculture and food prices."US Attorney General for DC Jeanine Pirro said Friday on X that she has ordered her office to close its investigation into Federal Reserve Chair Jerome Powell. The Inspector General for the Federal Reserve has been asked to scrutinize cost overruns related to building construction, Pirro said.Most US Treasury yields fell, with the 10-year slipping 1.7 basis points to 4.31% and the two-year dropping 4.9 basis points to at 3.78%.In economic news, the University of Michigan consumer sentiment index was revised up to 49.8 for April from 47.6 preliminary, compared with expectations for 48.5 in a Bloomberg-compiled survey. The index remains below the final 53.3 print in March. Respondents expected a 4.7% inflation rate over the next year and 3.5% annual inflation over the next five years, up from 3.8% and 3.2%, respectively, in March.

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Asia Markets11d ago

US Equity Indexes Decline, Crude Oil Jump Amid Stalled Iran Peace Talks

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