Financial News · Live Terminal

Page 119 of 157

Brent Crude Down Near 2.2% at Just Over US$99, NY Crude Down 2.25% at Near US$92.90

Crude Oil Prices Drop as Market Hopes for U.S.-Iran Peace Deal

Crude oil prices dropped further on Thursday as the market continues to anticipate a peace deal that could reopen the Strait of Hormuz.Brent crude at last look fell 2.4% to US$98.86/barrel and West Texas Intermediate crude lost 2.5% to $92.67/barrel. Understandings have been reached to ease the U.S. blockade of Iranian ports in exchange for a gradual reopening of the strait, Reuters said in a Thursday report, citing Saudi Arabia's Al Arabiya news agency. Reuters said it could not immediately verify the report.Iran previously said it was evaluating a U.S. peace proposal that could formally end the war, according to sources, the report said."If a formal deal eventually materialises, oil prices could witness a free fall as geopolitical premiums rapidly evaporate from the market. However, any fresh signs of attacks on oil infrastructure or escalation in the Middle East could easily trigger another parabolic spike in crude prices," Reuters quoted Priyanka Sachdeva, senior market analyst at Phillip Nova, as saying.

$CLX1$LCOX1$USO

Sectors94d ago

Sector Update: Energy Stocks Fall Wednesday

Energy stocks fell Wednesday with the NYSE Energy Sector Index slumping 3.9% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 4.1%.The Philadelphia Oil Service Sector Index shed 2%, and the Dow Jones US Utilities Index dropped 1.5%.Crude prices fell Wednesday amid prospects of a diplomatic breakthrough between the US and Iran.West Texas Intermediate crude oil tumbled 7.1% to $95.03 a barrel, and global benchmark Brent slumped 7.9% to $101.15 a barrel. Henry Hub natural gas futures fell 2.5% to $2.72 per 1 million BTU.US crude oil stocks, including those in the Strategic Petroleum Reserve, fell 7.5 million barrels in the week ended Friday following a decrease of 13.4 million in the previous week. Excluding inventories in the SPR, commercial crude oil stocks dropped 2.3 million barrels after a decline of 6.2 million in the previous week, compared with the decrease of 3.4 million expected in a survey compiled by Bloomberg.In corporate news, Spire (SR) shares fell 4% after the company's fiscal Q2 operating revenue came in below analysts' expectations.Vermilion Energy (VET) reported a Q1 loss following a year-earlier profit. The shares dropped 13%.Equinor (EQNR) shares tumbled 8% after the firm reported Q1 revenue that fell more than Wall Street expected.

$EQNR$SR$VET

Sectors94d ago

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks were advancing in late Wednesday afternoon trading, with the NYSE Financial Index rising 1.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.6%.The Philadelphia Housing Index was climbing 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 1.6%.Bitcoin (BTC-USD) was increasing 0.5% to $81,294, and the yield for 10-year US Treasuries declined 6 basis points to 4.356%.In economic news, employment in the US private sector grew at its fastest pace in more than a year in April, ADP data showed Wednesday, ahead of nonfarm payrolls due later in the week. Private jobs grew by 109,000, representing the fastest growth pace since January 2025, the payrolls processing firm said. The consensus was for 120,000 in a Bloomberg-compiled survey. The March print was revised down to 61,000 from 62,000.In corporate news, JPMorgan Chase (JPM) said it has created an index tracking about 6,400 private US midsize companies with a combined $1 trillion in annual revenue. JPMorgan added 2%.Synchrony Financial (SYF) and Dick's Sporting Goods (DKS) said Wednesday they are relaunching their credit card program. Synchrony shares rose 1.6%.Andersen (ANDG) said Wednesday it has closed the acquisition of six firms in Ireland, New Zealand, Nigeria, and Uruguay, representing about $34.5 million in annualized revenues. Andersen shares increased 1%.Blue Owl Capital-owned (OWL) data center firm Stack Infrastructure is considering a sale of its Asia operations, among other options, Bloomberg reported. The firm has held talks with prospective advisers regarding a partial or 100% sale of the assets in Japan, Australia and Malaysia, the report said. Blue Owl Capital shares were down 3.5%.

$ANDG$JPM$OWL$SYF

Sectors94d ago

Sector Update: Health Care Stocks Advance Late Afternoon

Health care stocks were higher late Wednesday afternoon, with the NYSE Health Care Index increasing 0.3% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.2%.The iShares Biotechnology ETF (IBB) climbed up 2.1%.In corporate news, Oscar Health (OSCR) shares surged past 10% after the company reported higher Q1 results.DaVita (DVA) shares jumped past 22% after Deutsche Bank upgraded the stock to buy from hold and boosted its price target to $220 from $126, a day after the company reported better-than-expected Q1 results.CVS Health (CVS) raised its full-year earnings outlook after reporting better-than-expected Q1 results on improvement in its health-care benefits segment. Its shares gained 8%.Novo Nordisk (NVO) expects generic versions of its Ozempic medication to face approval delays in China until next year, Bloomberg reported, citing the drugmaker. The patent for semaglutide, the main ingredient in Ozempic and Wegovy, expired in China in March, but the firm said it still has regulatory data protection until April 2027 due to a trade agreement between China and Switzerland, Bloomberg reported. Novo shares rose 2.2%.

$CVS$DVA$NVO$OSCR

Sectors94d ago

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.4% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.1%.The Philadelphia Semiconductor index climbed 4.1%.In corporate news, Advanced Micro Devices (AMD) reported stronger-than-expected Q1 results as demand for AI infrastructure pushed data center revenue higher year-on-year. Its shares jumped past 17%.Nvidia (NVDA) and Corning (GLW) said Wednesday they have entered a multiyear commercial and technology partnership to expand US manufacturing of advanced optical connectivity technology to power AI infrastructure. Nvidia shares gained 5.5%.Alphabet's (GOOGL) Google Cloud is slated to receive about $200 billion over five years from Amazon-backed (AMZN) Anthropic for computing capacity and processors, The Information reported. Alphabet shares climbed 2.1%.Super Micro Computer (SMCI) shares surged nearly 23% in late Wednesday trading, a day after the company reported a fiscal Q3 adjusted earnings beat.

$AMD$GOOGL$NVDA$SMCI

Sectors94d ago

Sector Update: Energy

Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index falling 4.1% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 4.2%.The Philadelphia Oil Service Sector Index was shedding 2.1%, and the Dow Jones US Utilities Index was down 0.9%.Crude prices fell Wednesday amid prospects of a diplomatic breakthrough between the US and Iran. US and Iranian officials are close to a one-page memorandum of understanding to end the war and establish a framework for future nuclear negotiations, Axios reported. The proposed MoU would include Iran committing to a moratorium on nuclear enrichment, with the US agreeing to ease sanctions and release frozen Iranian funds, according to the report. Both sides would lift restrictions on shipping through the Strait of Hormuz.Front-month West Texas Intermediate crude oil sank 7.1% to $95.03 a barrel, and the global benchmark Brent crude contract slumped 7.9% to $101.15 a barrel. Henry Hub natural gas futures fell 2.5% to $2.72 per 1 million BTU.In corporate news, Spire (SR) shares fell 3% after the company's fiscal Q2 operating revenue came in below analysts' expectations.

$SR

Sectors94d ago

Sector Update: Consumer Stocks Rise Late Afternoon

Consumer stocks were higher late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.8%.In corporate news, Uber (UBER) on Wednesday issued a bookings growth outlook that surpassed Wall Street's estimates, while the ride-hailing company's Q1 profit grew year-on-year. Uber shares popped 9.5%.Walt Disney's (DIS) fiscal Q2 results came in ahead of market estimates amid revenue gains across all business operations, while the media and entertainment giant reiterated its expectations for growth to accelerate in H2. Its shares climbed past 7%.Sony Group's (SONY) Sony Music is nearing a deal to acquire a music catalog including works by artists such as Justin Bieber and Neil Young from Blackstone (BX), Bloomberg reported. Sony is in discussions to acquire Recognition Music through a joint venture with Singaporean sovereign wealth fund GIC, which will pay from $3.5 billion to $4 billion, the report said. Sony Group shares added 3%.Restaurant Brands International's (QSR) Q1 earnings and revenue topped Wall Street's estimates Wednesday, while the restaurant operator's comparable sales growth was in line with consensus. Its shares were down 5%.

$DIS$QSR$SONY$UBER

Sectors94d ago

Sector Update: Financial

$OWL

Sectors94d ago

Sector Update: Tech

$SMCI

Sectors94d ago

Sector Update: Health Care

$DVA

Sectors94d ago

Sector Update: Consumer

Consumer stocks were higher late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.9%.In corporate news, Restaurant Brands International's (QSR) Q1 earnings and revenue topped Wall Street's estimates Wednesday, while the restaurant operator's comparable sales growth was in line with consensus. Its shares were down 5.9%.

$QSR

Sectors95d ago

Update: WTI Oil Plunges Following Reports the U.S. and Iran May Be Close to a Peace Deal

West Texas Intermediate (WTI) crude oil plunged 7% on Wednesday following reports the United States and Iran are close to an agreement to end their war, offering the possibility the Strait of Hormuz could soon reopen.WTI crude oil for June delivery closed down US$7.19 to settle at US$95.08 per barrel after touching US$88.66 in Asian trade, while July Brent oil was last seen down US$9.13 to US$100.74.The drop came as Axios overnight reported the two countries were close to a negotiated deal to end hostilities, which was later confirmed by U.S. President Trump. In a social media post, Trump said the war "will be at an end" and the Strait of Hormuz will reopen to traffic if Iran agrees to a U.S. peace proposal, while threatening to resume bombing if its terms are rejected.Citing Iran's state media, Reuters reported Iran's Islamic Revolutionary Guard Corps is claiming the Strait, the chokepoint for exports from Persian Gulf nations supplying 20% of daily oil demand, could reopen if a deal is reached.Oil prices have climbed by more than half since Iran closed the Strait when the war began on Feb. 28, trapping exports of oil, LNG, fertilizers and other commodities in the Persian Gulf. However an end to the war is unlikely to see a quick return to normal. Iranian attacks on oil and gas infrastructure in neighboring countries and restarting production from shut-in oilfields will limit a quick return to pre-war operating levels."If Hormuz were to be reopened, it would take an additional seven months at minimum to fully restore upstream production, assuming no permanent damage and supply chains operate smoothly. A recovery could take longer if there is damage to ports or other transport and loading infrastructure," S&P Global Energy noted.The Energy Information Administration on Wednesday reported another drop in U.S. commercial oil inventories, saying stocks fell by 2.3-million barrels last week, under the consensus estimate for a drop of 3.3-million barrels among analysts polled by Reuters.

$CLM6$LCON6$USO

Sectors95d ago

June WTI Crude Oil Contract Closes Down US$7.19; Settles at US$95.08 per Barrel

$CLM6$LCON6$USO

Sectors95d ago

Update: Gold Moves Higher as the Dollar and Yields Retreat Following Reports the Iran War May Be Near an End

(Updates prices.)Gold was higher midafternoon on Wednesday as the U.S. dollar and yields were sharply lower on reports Iran and the United States are closing in on a deal to end their war, while U.S. private-sector hiring surged last month.Gold for June delivery was last seen up US$122.50 to US$4,691.00 per ounce.The gain in the precious metal follows reports, later confirmed by U.S. President Trump, that Iran and the United States are close to a negotiated deal to end hostilities. In a social media post, Trump said the war "will be at an end" and the Strait of Hormuz will reopen to traffic if Iran agrees to a U.S. peace proposal.Oil traded sharply lower on expectations a deal would reopen the Strait of Hormuz, the chokepoint for 20% of daily oil supply from Persian Gulf nations, easing worries over rising inflation and higher interest rates due to the supply shock."Washington is shifting focus to reopening the strait amid foreign pressure and rising domestic opposition to the war," Saxo Bank noted.U.S. private sector hiring surged in April, with the ADP National Employment Report seeing a rise of 109,000 private-sector jobs last month, up from 61,000 in March and above expectations for a rise of 84,000 positions according to Marketwatch.The dollar was sharply lower early, with the ICE dollar index last seen down 0.39 points to 98.05. Treasury yields also fell, with the yield on the U.S. two-year note last seen down 7.4 basis points to 3.876%, while the 10-year note was paying 4.355%, down 7.4 points.

$GCM6$GLD

Sectors95d ago

Sector Update: Financial Stocks Higher Wednesday Afternoon

Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 1.3% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.5%.The Philadelphia Housing Index was climbing 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 1.5%.Bitcoin (BTC-USD) was increasing 0.7% to $81,508, and the yield for 10-year US Treasuries was shedding 6.2 basis points to 4.35%.In economic news, employment in the US private sector grew at its fastest pace in more than a year in April, ADP data showed Wednesday, ahead of nonfarm payrolls due later in the week. Private jobs grew by 109,000, representing the fastest growth pace since January 2025, the payrolls processing firm said. The consensus was for 120,000 in a Bloomberg-compiled survey. The March print was revised down to 61,000 from 62,000.In corporate news, JPMorgan Chase (JPM) said it has created an index tracking about 6,400 private US midsize companies with a combined $1 trillion in annual revenue. JPMorgan added 1.6%.Synchrony Financial (SYF) and Dick's Sporting Goods (DKS) said Wednesday they are relaunching their credit card program. Synchrony shares rose 1.2%.Andersen (ANDG) said Wednesday it has closed the acquisition of six firms in Ireland, New Zealand, Nigeria, and Uruguay, representing about $34.5 million in annualized revenues. Andersen shares increased 1.2%.

$ANDG$JPM$SYF

Sectors95d ago

Sector Update: Energy Stocks Fall Wednesday Afternoon

Energy stocks were lower Wednesday afternoon, with the NYSE Energy Sector Index falling 3.8% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 4.2%.The Philadelphia Oil Service Sector Index was shedding 1.6%, and the Dow Jones US Utilities Index was down 1.2%.The White House is of the view that an agreement with Tehran -- a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations -- is close, Axios reported, citing two US officials and two other sources briefed on the issue. Washington's MoU, if Iran accepts it, will lead to a gradual reopening of the Strait of Hormuz and lifting of the American blockade on Iranian ports, a person familiar with the matter told Bloomberg.Front-month West Texas Intermediate crude oil sank 7% to $95.14 a barrel, and the global benchmark Brent crude contract slumped 7.4% to $101.72 a barrel. Henry Hub natural gas futures fell 2.5% to $2.72 per 1 million BTU.US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 7.5 million barrels in the week ended May 1 following a decrease of 13.4 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks decreased by 2.3 million barrels after a 6.2-million-barrel drop in the previous week, compared with the 3.4-million-barrel decrease expected in a survey compiled by Bloomberg.In sector news, Triton Uranium is considering a US listing through a merger with a special purpose acquisition company in 2026, its president Scott Evans told Reuters, as the company seeks to tap rising demand for nuclear fuel and bolster domestic supply. The Canada-based company has begun development work at its Atlas Project in Uranium City, Saskatchewan, where it controls about 46,742 acres of mineral claims, the report said.In corporate news, Equinor (EQNR) shares fell past 8% after the firm reported Q1 revenue that decreased year on year and missed analysts' estimates.Vermilion Energy (VET) reported a Q1 loss Wednesday of 0.95 Canadian dollar ($0.70) per diluted share, swinging from earnings of CA$0.10 a year earlier. Its shares dropped over 12%.Nano Nuclear Energy (NNE) said Wednesday it has signed a memorandum of understanding with Super Micro Computer (SMCI) to explore the integration of Nano's energy systems with Supermicro's AI server and data center platforms. Nano shares surged 22%.Terrestrial Energy (IMSR) and Riot Platforms (RIOT) said Wednesday they are collaborating to develop a pairing of planned data centers with co-located nuclear plants. Terrestrial shares jumped past 16%.

$EQNR$IMSR$NNE$VET

Sectors95d ago

Sector Update: Health Care Stocks Mixed Wednesday Afternoon

Health care stocks were mixed Wednesday afternoon, with the NYSE Health Care Index increasing 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.1%.The iShares Biotechnology ETF (IBB) climbed 1.8%.In corporate news, CVS Health (CVS) raised its full-year earnings outlook after reporting better-than-expected Q1 results driven by improvement in its health-care benefits segment. Its shares gained 6.8%.Novo Nordisk (NVO) expects generic versions of its Ozempic medication to face approval delays in China until next year, Bloomberg reported, citing the drugmaker. The patent for semaglutide, the main ingredient in Ozempic and Wegovy, expired in China in March, but the company said it still has regulatory data protection until April 2027 due to a trade agreement between China and Switzerland, Bloomberg reported. Novo shares rose 2.5%.Eli Lilly (LLY) is looking to raise about $8 billion from an investment-grade bond sale to fund an acquisition spree, Bloomberg reported. Lilly shares added 0.3%.

$CVS$LLY$NVO

Sectors95d ago

Sector Update: Consumer Stocks Mixed in Afternoon Trading

Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.5%.In corporate news, Walt Disney's (DIS) fiscal Q2 results came in ahead of market estimates amid revenue gains across all business operations, while the media and entertainment giant reiterated its expectations for growth to accelerate in H2. Its shares climbed 6.6%.Uber (UBER) on Wednesday issued a bookings growth outlook that surpassed Wall Street's estimates, while the ride-hailing company's Q1 profit grew year-on-year. Uber shares popped 7.5%.Sony Group's (SONY) Sony Music is nearing a deal to acquire a music catalog including works by artists such as Justin Bieber and Neil Young from Blackstone (BX), Bloomberg reported. Sony is in discussions to acquire Recognition Music through a joint venture with Singaporean sovereign wealth fund GIC, which will pay from $3.5 billion to $4 billion, the report said. Sony Group shares added 2.9%.

$DIS$SONY$UBER

Sectors95d ago

Sector Update: Tech Stocks Gain Wednesday Afternoon

Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.9% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.6%.The Philadelphia Semiconductor index climbed 3.4%.In corporate news, Advanced Micro Devices (AMD) reported stronger-than-expected Q1 results as demand for AI infrastructure pushed data center revenue higher year-on-year. Its shares jumped past 16%.Nvidia (NVDA) and Corning (GLW) said Wednesday they have entered a multiyear commercial and technology partnership to expand US manufacturing of advanced optical connectivity technology to power AI infrastructure. Nvidia shares gained 4.5%.Alphabet's (GOOGL) Google Cloud is slated to receive about $200 billion over five years from Amazon-backed (AMZN) Anthropic for computing capacity and processors, The Information reported. Alphabet shares climbed 2.4%.

$AMD$GOOGL$NVDA

Showing 2361-2380 of 3133

Sectors95d ago

Sector Update: Energy Stocks Fall Wednesday Afternoon

$EQNR$IMSR$NNE$VET