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Sector Update: Tech

Tech stocks were mixed late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.6% and the State Street SPDR S&P Semiconductor ETF (XSD) fractionally lower.The Philadelphia Semiconductor index increased 0.8%.In corporate news, Cerebras Systems (CBRS) stock was up more than 76% in Thursday trading following its Nasdaq debut.

$CBRS

Sectors87d ago

Update: WTI Oil Edges Up Despite Reports Iran is Allowing Chinese Ships to Move Through the Strait of Hormuz

West Texas Intermediate (WTI) crude oil edged higher on Thursday despite reports Iran is allowing Chinese ships to transit the Strait of Hormuz.WTI crude oil for June delivery closed up US$0.15 to settle at US$101.17 per barrel, while July Brent oil was last seen up US$0.10 to US$105.73.The rise follows a Reuters report, citing Iranian state media, that Iran is allowing Chinese ships to move through the blocked Strait of Hormuz, and have allowed 30 vessels to move through the Strait "in recent hours".Iran closed the Strait to most traffic at the Feb. 28 start to the war launched by the United States and Israel, stranding hundreds of ships in the Persian Gulf and blocking 20% of daily oil demand supplied by regional nations.The blockade of the Strait has pushed oil prices up by half since the start of the war. leaving Asian nations scrambling for physical supply and boosting inflation, raising concerns central banks will need to raise interest rates to cut demand. The United States this week reported wholesale and consumer prices surged last month, heightening concerns of higher rates, though the CME FedWatch Tool sees a 97.5% probability the Federal Reserve will leave rates unchanged during the June 17 meeting of its policy committee.Iran's control of the Strait is a key focus of the summit meeting underway between Chinese President Xi Jinping and U.S. President Trump in Beijing. The Wall Street Journal reported the pair agreed the Strait should remain an international waterway and Iran should not be allowed to extract payments from ships passing through the Strait.

$CLM6$LCON6$USO

Sectors87d ago

June WTI Crude Oil Contract Closes Up US$0.15; Settles at US$101.17 per Barrel

$CLM6$LCON6$USO

Sectors87d ago

Sector Update: Energy Stocks Higher Thursday Afternoon

Energy stocks advanced Thursday afternoon, with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.9%.The Philadelphia Oil Service Sector Index was climbing 1%, and the Dow Jones US Utilities Index was fractionally higher.Front-month West Texas Intermediate crude oil was rising 0.7% to $101.70 a barrel, and the global benchmark Brent crude contract was adding 0.1% to $105.73 a barrel. Henry Hub natural gas futures rose 1.4% to $2.90 per 1 million BTU.US natural gas stocks rose by 85 billion cubic feet in the week ended May 8, smaller than the 87 billion gain expected in a survey compiled by Bloomberg and following an increase of 63 billion cubic feet in the previous week.In corporate news, Constellation Energy (CEG) and Pine Creek RNG said Thursday they have signed a long-term agreement under which Constellation will buy a minority equity interest in five Pine Creek production facilities. Constellation shares increased 0.6%.Chevron (CVX) has agreed to sell its downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia, to Eneos for $2.17 billion, Eneos said. Chevron shares added 0.3%.New Fortress Energy (NFE) is seeking permission from a UK court for a restructuring plan that will convert 90% of its $6.5 billion debt into equity and transfer ownership of the company to creditors, Bloomberg reported. New Fortress shares fell nearly 6%.

$CEG$CVX$NFE

Sectors87d ago

Update: Gold Trading Lower as the Dollar Rises Following U.S. Retail Sales Data

(Updates prices.)Gold moved lower midafternoon Thursday as the dollar rose after a report showed U.S. retail-sales growth slowed in April.Gold for June delivery was last seen down US$22.20 to US$4,684.50.The U.S. Census Bureau reported retail sales roes by 0.5% last month, down from a revised 1.6% in March but matching expectations according to Marketwatch.The report follows on day-prior data showing wholesale prices rose by the most in four years in April, with oil prices surging amid the war on Iran, raising concerns the Federal Reserve will need to raise interest rates to slow inflation caused by higher oil prices.The threat of higher interest rates has kept gold rangebound, with the metal trading in a tight range for the past six weeks.The dollar rose following the report, with the ICE dollar index last seen up 0.27 points to 98.79. Treasury yields steadied, with the yield on the U.S. two-year note was last seen up 0.2 basis points to 3.994%, while the 10-year note was paying 4.457%, down 1.2 points.

$GCM6$GLD

Sectors87d ago

Sector Update: Financial Stocks Advance Thursday Afternoon

Financial stocks were higher Thursday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.6%.The Philadelphia Housing Index was climbing 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.4%.Bitcoin (BTC-USD) gained 2.6% to $81,414, and the yield for 10-year US Treasuries was decreasing 3 basis points to 4.45%.In economic news, retail sales in April rose for the third straight month, with analysts saying the increase largely reflected higher prices as the war in Iran kept fuel costs elevated. Sales rose 0.5% in April following a revised 1.6% gain in March, the Census Bureau reported Thursday, matching the consensus in a survey compiled by Bloomberg.In corporate news, Klarna (KLAR) shares jumped 15% after the company posted a narrower net loss and higher revenue for Q1.Interactive Brokers (IBKR) is launching a platform that enables investors to trade contracts across all three prediction market exchanges from a single platform. The clients can access the combined liquidity of ForecastEx, CME Group (CME), and Kalshi and receive the best available net price. Interactive Brokers shares rose 3.3%.Blackstone (BX) owned data center operator AirTrunk is seeking a $2.3 billion syndicated loan to fund the development of its AirTrunk JHB2 facility in Malaysia's Johor state, Bloomberg reported. Blackstone shares added 2.3%.

$BX$IBKR$KLAR

Sectors87d ago

Sector Update: Consumer Stocks Rise in Afternoon Trading

Consumer stocks were higher Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.4%.In corporate news, Yeti (YETI) lifted its full-year earnings outlook on Thursday as the outdoor products company recorded better-than-expected fiscal Q1 results. Its shares climbed past 6%.Tesla (TSLA) Chief Executive Elon Musk's SpaceX is facing opposition from leaders of three major US public pension systems over what they described as the company's "extreme" governance structure ahead of its planned initial public offering, Reuters reported. Tesla shares were up 0.3%.Paramount Skydance's (PSKY) acquisition of Warner Bros. Discovery (WBD) will be carefully scrutinized by European regulators, CNBC reported Thursday, citing a letter sent to Paramount Skydance Chief Executive David Ellison from a group of US and European lawmakers it viewed. Paramount shares fell 1.5%, and Warner Bros. was down 0.4%.

$PSKY$TSLA$WBD$YETI

Sectors87d ago

Sector Update: Healthcare Stocks Softer Thursday Afternoon

Healthcare stocks edged down Thursday afternoon, with the NYSE Healthcare Index easing 0.1% and the State Street Healthcare Select Sector SPDR ETF (XLV) fractionally lower.The iShares Biotechnology ETF (IBB) decreased 0.5%.In corporate news, Biogen (BIIB) shares fell nearly 6% after the firm said Thursday that a phase 2 trial of diranersen in people with early Alzheimer's disease did not meet its primary endpoint.Prestige Consumer Healthcare (PBH) reported weaker-than-expected Q4 results and issued 2026 guidance below consensus, with the shortfall driven primarily by supply constraints in Clear Eyes and broader execution pressures, Oppenheimer said in a note. Oppenheimer downgraded the stock to perform from outperform and removed its $65 price target. Prestige shares slumped past 8%.Doximity (DOCS) could face near-term pressure from slowing growth after issuing weaker-than-expected guidance, though strong user engagement trends and expanding AI opportunities continue to support the stock's long-term outlook, Morgan Stanley said in a note. Morgan Stanley lowered the price target on Doximity to $35 from $49, while maintaining an overweight rating. Doximity shares dropped more than 24%.Aveanna Healthcare (AVAH) shares jumped 11% after it reported higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 revenue guidance.

$AVAH$BIIB$DOCS$PBH

Sectors87d ago

Sector Update: Tech Stocks Mixed Thursday Afternoon

Tech stocks were mixed Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.1% and the State Street SPDR S&P Semiconductor ETF (XSD) shedding 0.6%.The Philadelphia Semiconductor index increased 0.1%.In corporate news, Cisco (CSCO) shares jumped 12% after it reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised its fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.Microsoft-backed (MSFT) OpenAI is preparing possible legal action against Apple (AAPL) as the partnership between the two companies has become strained, Bloomberg reported. Apple shares were down 0.3%, and Microsoft was rising 0.8%.Chinese President Xi Jinping told the chief executives of Apple, Tesla (TSLA), Nvidia (NVDA) and other large companies that China will "open wider" to doing business, CNBC reported Thursday, citing a report from state-backed newspaper Xinhua. Tesla shares were fractionally higher, and Nvidia gained 3.7%.

$AAPL$CSCO$MSFT$NVDA$TSLA

Sectors87d ago

Sector Update: Energy

Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.9%.The Philadelphia Oil Service Sector Index was climbing 1%, and the Dow Jones US Utilities Index was fractionally higher.Front-month West Texas Intermediate crude oil was rising 0.3% to $101.35 a barrel, and the global benchmark Brent crude contract was decreasing 0.2% to $105.42 a barrel. Henry Hub natural gas futures rose 1.1% to $2.90 per 1 million BTU.In corporate news, Chevron (CVX) has agreed to sell its downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia, to Eneos for $2.17 billion, Eneos said. Chevron shares were up 0.4%.

$CVX

Sectors87d ago

Sector Update: Financial

Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index rising 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.6%.The Philadelphia Housing Index was climbing 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.4%.Bitcoin (BTC-USD) gained 2.6% to $81,414, and the yield for 10-year US Treasuries was decreasing 2.8 basis points to 4.45%.In corporate news, Interactive Brokers (IBKR) is launching a platform that enables investors to trade contracts across all three prediction market exchanges from a single platform. The clients can access the combined liquidity of ForecastEx, CME Group (CME), and Kalshi and receive the best available net price. Interactive Brokers shares rose 2.7%.

$IBKR

Sectors87d ago

Sector Update: Consumer

Consumer stocks were higher Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.3%.In corporate news, Yeti (YETI) lifted its full-year earnings outlook on Thursday as the outdoor products company recorded better-than-expected fiscal Q1 results. Its shares climbed 6%.

$YETI

Sectors87d ago

Sector Update: Healthcare

$BIIB

Sectors87d ago

Sector Update: Tech

Tech stocks were higher Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.6% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.5%.The Philadelphia Semiconductor index increased 0.8%.In corporate news, Cisco (CSCO) shares jumped past 13% after it reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised its fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.

$CSCO

Sectors87d ago

Trump Says Xi Offered Help on Iran, Said China Would Not Send Weapons, Bloomberg Reports

Sectors87d ago

US Natural Gas Stocks Posts Smaller Gain Than Expected in Week Ended May 8

US natural gas stocks rose by 85 billion cubic feet in the week ended May 8, smaller than the 87 billion gain expected in a survey compiled by Bloomberg as of 7:35 am ET and following an increase of 63 billion cubic feet in the previous week.Stocks at 2.290 trillion cubic feet are 2.3% higher than in the comparable week a year ago and 6.5% above their 5-year average.

Sectors87d ago

Natural Gas Moves Lower Ahead of Storage Data on Cooling Long-Term Forecasts

Natural gas prices eased Thursday ahead of fresh storage data on cooler long-term forecasts.Gas for June delivery was last seen down $0.03 to US$2.83 per million British thermal units.The drop comes as long-term forecasts from the National Weather Service expect most states between the Rocky Mountains and Mississippi River to see seasonal or cooler temperatures over the its six to 10-day outlook, cutting into cooling demand.The Energy Information Administration will release its weekly survey of inventories of the fuel, with another large injection into storage expected."We are projecting a +86 (billion cubic foot rise) but should we see a number over 90 Bcf then the support level should fail and we could drop back to near $2.75. A storage number in the low 80's could give the bulls a reason to push back towards $3 but without some help from the weather maps," Gary Cunningham, Director of Market Research at Tradition Energy, noted.

$NGM6$UNG

Sectors87d ago

Sector Update: Energy Stocks Edge Higher Pre-Bell Thursday

Energy stocks were edging higher pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) marginally advancing.The United States Oil Fund (USO) was down 0.7% and The United States Natural Gas Fund (UNG) was 0.9% lower.Front-month US West Texas Intermediate crude oil was 0.4% lower at $100.62 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.6% to reach $105.02 per barrel, and natural gas futures were down 1.4% at $2.82 per 1 million British Thermal Units.Kodiak Gas Services (KGS) shares were down more than 4% after the company priced an underwritten public offering of 10.6 million shares at $71 apiece.Chevron (CVX) agreed to sell its downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia, to ENEOS for $2.17 billion, ENEOS said. Chevron stock was 0.3% lower pre-bell.

$CVX$KGS$UNG$USO$XLE

Sectors87d ago

Sector Update: Financial Stocks Advance Pre-Bell Thursday

Financial stocks were advancing pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) up 0.6%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1.8% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.8%.Brookfield (BN) stock was up 0.6% after the company reported higher Q1 distributable earnings and revenue.Fiserv (FISV) shares were up more than 2% after the company said it is working with OpenAI to integrate advanced AI capabilities into its platforms, aiming to help financial institutions modernize operations and support efficiency.Brookfield Asset Management (BAM) is nearing a $935 million loan to help fund its acquisition of World Freight from EQT and PAI Partners, Bloomberg News reported, citing sources familiar with the matter. Brookfield Asset Management stock was up more than 1% premarket.

$BAM$BN$FAS$FAZ$FISV$XLF

Sectors87d ago

Sector Update: Healthcare Stocks Mixed Premarket Thursday

Healthcare stocks were mixed premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.2% higher and the iShares Biotechnology ETF (IBB) declining by 0.1%.Aveanna Healthcare (AVAH) stock was up more than 9% after the company reported higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 revenue guidance.Biogen (BIIB) shares were up more than 1% after the company said a phase 2 study evaluating diranersen in patients with early Alzheimer's disease did not meet its primary endpoint evaluating dose response for change from baseline on the Clinical Dementia Rating-Sum of Boxes at week 76.MeiraGTx (MGTX) stock was down 1% after the company posted a wider Q1 adjusted loss as revenue fell during the period.

$AVAH$BIIB$IBB$MGTX$XLV

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