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Sector Update: Energy Stocks Fall Premarket Monday

Energy stocks were falling premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 3.5%.The United States Oil Fund (USO) was down 4.5% and the United States Natural Gas Fund (UNG) was 1.1% lower.Front-month US West Texas Intermediate crude oil was 5.4% lower at $80.32 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 4.8% to $83.13 per barrel, and natural gas futures were down 0.6% at $3.10 per 1 million British Thermal Units.Shell's (SHEL) Sprng Energy Indian renewable power business could be acquired by Aditya Birla Group, which has emerged as the frontrunner for the unit, Bloomberg reported, citing people familiar with the matter. Shares of Shell were down more than 4% pre-bell.The European Commission said it has approved a joint venture between TotalEnergies (TTE) and Masdar focused on renewable energy projects in the Asia-Pacific region. TotalEnergies stock was down more than 4% premarket.Equinor (EQNR) said it is advancing a fourth phase of development at the Johan Sverdrup field in the North Sea after new appraisal wells confirmed additional recoverable oil volumes in the area. Equinor shares were down more than 5% pre-bell.

$EQNR$SHEL$TTE$UNG$USO$XLE

Sectors8d ago

Sector Update: Financial Stocks Advance Pre-Bell Monday

Financial stocks were advancing pre-bell Monday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.7% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 2.2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 2.2% lower.Payoneer Global (PAYO) and Nuvei said they have entered into a definitive agreement under which Nuvei will acquire Payoneer for $7.40 per share in cash, representing a total deal equity value of about $2.75 billion. Shares of Payoneer Global were up more than 4% premarket.Northern Trust (NTRS) stock was up more than 1% after the company said it obtained a license from the Central Bank of Ireland to launch a new domestic banking branch.eToro (ETOR) is pursuing acquisitions and considering an expansion into payments and banking services as the online trading platform looks to diversify its business, the Financial Times reported, citing CEO Yoni Assia. Shares of eToro were 2% higher pre-bell.

$ETOR$FAS$FAZ$NTRS$PAYO$XLF

Sectors8d ago

Sector Update: Healthcare Stocks Edge Higher Premarket Monday

Healthcare stocks were edging higher premarket Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) up 0.2% and the iShares Biotechnology ETF (IBB) 0.6% higher.Precigen (PGEN) shares were up more than 3% after the company said the US Food and Drug Administration granted orphan drug exclusivity for its recurrent respiratory papillomatosis treatment called papzimeos.Zymeworks' (ZYME) drug to treat certain reproductive tract cancers has shown promise in early testing, the biotechnology company reported at the European Society for Medical Oncology Gynaecological Cancers Congress. Zymeworks stock was up more than 1% pre-bell.Elicio Therapeutics (ELTX) shares were down more than 64% after the company said its Phase 2 clinical study evaluating the experimental pancreatic cancer therapy ELI-002 7p did not meet the pre-specified primary endpoint of disease-free survival.

$ELTX$IBB$PGEN$XLV$ZYME

Sectors8d ago

Gold Sharply Higher As the U.S. and Iran Reach a Truce, Easing Inflation Worries

Gold rose for a second day early Monday as the U.S. dollar and yields fell after Iran and the United States agreed to a truce in their war, pushing oil prices lower and easing inflation fears that have pushed investors away from the precious metal.Gold for July delivery was last seen up US$124.80 to US$4,363.60 per ounce.The price of the metal has slumped 19% since the United States and Israel launched their war on Iran on Feb. 28. With the high oil prices that followed the closing of the Strait of Hormuz, the choke point for a fifth of daily oil demand, boosting inflation, investors turned to the dollar as a hedge against potential interest-rates by central banks and away from gold."Gold and other hard assets rallied strongly after the announcement of an interim peace deal, as easing concerns over energy prices helped reduce the inflation threat that has weighed heavily on the sector throughout the Middle East conflict. Lower oil prices have also prompted traders to scale back expectations for further interest-rate hikes, providing an additional tailwind for precious metals," Saxo Bank noted.The dollar traded lower early, with the ICE dollar index last seen down 0.26 points to 99.49. Treasury yields also fell, with the U.S. two-year note last seen paying 4.052%, down 4.1 basis points, while the yield on the 10-year note was down 3.3 points to 4.457%.

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Sectors8d ago

Sector Update: Consumer Stocks Mixed Pre-Bell Monday

Consumer stocks were mixed pre-bell Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.7% lower and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 1.5%.Amazon.com (AMZN) shares were up more than 2% after the company said it has completed the issuance of approximately 13.97 billion Canadian dollars ($9.99 billion) in aggregate notes across multiple maturities as part of a registered debt offering.American Express (AXP) signed a put option agreement to acquire TheFork, an online restaurant reservation and management platform in Europe, from Tripadvisor (TRIP) for $700 million in cash, the companies said. Tripadvisor stock was up more than 11% premarket.Bath & Body Works (BBWI) Chief Executive Officer Daniel Heaf aims to help the company win over younger consumers, The Wall Street Journal reported, citing an interview with the CEO. Shares of Bath & Body Works were up 0.7% pre-bell.

$AMZN$AXP$BBWI$TRIP$XLP$XLY

Sectors8d ago

Sector Update: Tech Stocks Rise Premarket Monday

Technology stocks were rising premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) up 2.9% and the State Street SPDR S&P Semiconductor ETF (XSD) 5.1% higher.Akamai Technologies (AKAM) stock was up more than 2% after the company launched a unified "agentic framework" for its Bot & Agent Control solutions as AI agents increasingly take on tasks on behalf of users, raising new challenges around identity, intent and trust.Viavi Solutions (VIAV) shares were up more than 4% after the company said it is upgrading its CX300 communications service monitor by launching the TETRA MS radio base station simulator option.Baidu (BIDU) is being considered by ByteDance as a potential supplier of its Kunlunxin artificial intelligence chips, Reuters reported, citing two unnamed sources familiar with the matter. Baidu stock was up more than 1% pre-bell.

$AKAM$BIDU$VIAV$XLK$XSD

Sectors8d ago

Sector Update: Energy

Energy stocks were falling premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 3.3%.The United States Oil Fund (USO) was down 4.5% and the United States Natural Gas Fund (UNG) was 1% lower.Front-month US West Texas Intermediate crude oil was 5.6% lower at $80.16 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 4.9% to $83.03 per barrel, and natural gas futures were down 1.3% at $3.08 per 1 million British Thermal Units.Shell's (SHEL) Sprng Energy Indian renewable power business could be acquired by Aditya Birla Group, which has emerged as the frontrunner for the unit, Bloomberg reported, citing people familiar with the matter. Shares of Shell were down more than 4% pre-bell.

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Sectors8d ago

Sector Update: Financial

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Sectors8d ago

Sector Update: Health Care

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Sectors8d ago

Sector Update: Consumer

Consumer stocks were mixed pre-bell Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.2% lower and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 1.5%.Amazon.com (AMZN) shares were 2% higher after the company said it has completed the issuance of approximately 13.97 billion Canadian dollars ($9.99 billion) in aggregate notes across multiple maturities as part of a registered debt offering.

$AMZN

Sectors8d ago

Sector Update: Tech

Technology stocks were rising premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) up 2.8% and the State Street SPDR S&P Semiconductor ETF (XSD) 3.9% higher.Akamai Technologies (AKAM) stock was up more than 2% after the company launched a unified "agentic framework" for its Bot & Agent Control solutions as AI agents increasingly take on tasks on behalf of users, raising new challenges around identity, intent and trust.

$AKAM

Sectors8d ago

Oil Prices Slump as Iran and the United States Agree to a Truce, Reopening the Strait of Hormuz

Oil traded sharply lower early Monday after the United States and Iran reached a truce in the war that has blocked off the Strait of Hormuz, the chokepoint for a fifth of the daily oil demand supplied by Persian Gulf nations.West Texas Intermediate crude oil for July delivery was last seen down US$4.36 to US$80.52 per barrel, the lowest since March 4, while August Brent oil down US$4.07 to US$83.26.In a deal brokered by Pakistan, the United States and Iran on Sunday reached a memorandum of understanding to end the war launched by the U.S. and Israel on Feb. 28. According to the Wall Street Journal, the deal will see the Strait reopened on Friday, releasing tankers trapped in the Gulf and freeing up oil exports from the region. A final deal is expected to take up to two months to reach.The war has forced importing countries to draw down stockpiles, depleting global inventories that had been swelled by over-production prior to the start of the war. Iranian attacks on its regional neighbors damaged crucial oil infrastructure and shut in producing producing oil fields, which will take at least months to restore pre-war output, likely keeping prices elevated for months."Whether prices, currently around US$13 above pre-war levels, can fall further will depend on several factors, including the pace at which commercial and strategic stockpiles are replenished, how quickly shut-in production can be brought back online, and the extent of any lasting demand destruction caused by a prolonged period of elevated energy prices. The speed at which supply chains normalise and export flows recover will also play a key role in determining how much of the geopolitical risk premium remains embedded in the market," Saxo Bank noted.

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Sectors8d ago

Markets Rejoice as The U.S., Iran Strike An Initial Deal, Says Scotiabank

The market driver on Monday is news of a peace framework between the United States and Iran that has the advantage of getting oil flowing through the Strait of Hormuz at least for now, said Scotiabank.Oil was down by almost US$5/barrel to the low $80s in WTI and Brent terms, while the oil futures curve remained well above pre-Iran war levels as "a material shock remains intact amid ongoing vulnerabilities", noted the bank.The same goes for gasoline futures into the summer driving season, thin inventories and strained capacity across refineries, it also noted.That's driving a well-timed rally in sovereign bonds ahead of the week's deluge of central banks, especially the Federal Reserve, with most global benchmark yields down by about 2bps to 7bps as curves mildly bull steepen, Scotia said.Stocks were broadly higher by 0.75% to almost 2% across North American futures and around 1% across Europe, except for London, which was little changed with the Starmer administration stoking U.S. trade tensions by following others with an under-16 year old social media ban, Scotiabank noted.The US dollar (USD) was broadly retreating as most major crosses appreciate, although with mild underperformance by oil-crosses like the Canadian dollar (CAD or loonie) and Norway's krone (NOK), it also noted.

$CAD$CXY$NOK$USD$USO

Sectors8d ago

NY Crude Down 5.6% at Near US$80.10 and Brent Crude Down 5.2% at US$82.80

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Sectors8d ago

Crude Oil Prices Plunge as U.S., Iran Reach Initial Deal to End War

Crude oil prices plummeted on Monday after the U.S. and Iran reached a preliminary deal to end the war and reopen the Strait of Hormuz to shipping.Brent crude at last look dropped 5.2% to US$82.76/barrel and West Texas Intermediate crude fell 5.6% to $80.09/barrel.The U.S. and Iran will sign a memorandum of understanding in Switzerland on Friday, with U.S. President Donald Trump saying the strait would be open "toll free" and a U.S. naval blockade of Iranian ports would end, Reuters said in a Monday report.Investors are monitoring how quickly Middle Eastern producers can resume oil production and exports and whether more ships will enter the region, the report said."It will take time for oil to approach the pre-crisis level of 20 million barrels per day sailing through this chokepoint. Estimates of the full resumption of traffic vary from weeks to months," Reuters quoted Tamas Varga, analyst at PVM Oil Associates, as saying.

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Sectors11d ago

Sector Update: Energy Stocks Higher Late Afternoon

Energy stocks rose late Friday afternoon, with the NYSE Energy Sector Index increasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.7%.The Philadelphia Oil Service Sector Index shed 0.1%, and the Dow Jones US Utilities Index rose 0.9%.Oil prices fell following media reports that the US and Iran are nearing a potential peace deal, just days after the two sides exchanged strikes in a sharp escalation of tensions since a ceasefire in April.US Energy Secretary Chris Wright said about 7 million barrels of daily oil and fuel shipments are flowing through the Strait of Hormuz, or about half the volumes stranded at the start of the war with Iran, Bloomberg reported.West Texas Intermediate crude oil fell 3.7% to $84.51 a barrel, and global benchmark Brent dropped 3.8% to $86.99 a barrel. Henry Hub natural gas futures rose 1.3% to $3.13 per 1 million BTU.In corporate news, Exxon Mobil (XOM) is studying potential takeover targets, including Woodside Energy (WDS), as the energy giant looks to increase its presence in the liquefied natural gas sector and in Asian markets, Bloomberg reported. Exxon shares rose 0.2%, and Woodside jumped past 6%.Shell (SHEL) said Friday it has suspended its ongoing $3 billion share buyback program. The suspension, effective Friday through July 14, is related to securities law requirements following publication of the shareholder circular by ARC Resources, Shell said. Separately, Shell is planning to begin the sale of its offshore wind farms for over $1 billion by the end of this year as the company prioritizes its fossil fuel business, Bloomberg reported. Shell shares were 0.4% lower.BP (BP) started a process to sell minority stakes in its Kaskida and Tiber projects in the Gulf of Mexico, Reuters reported. BP shares were fractionally higher.Venture Global (VG) shares were rising 2%. The company and Greece-based Atlantic-SEE LNG Trade said late Thursday they expanded their existing sales and purchase agreement for US liquefied natural gas. Venture Global also said late Thursday it closed an offering of $1.13 billion of 6.375% senior secured notes due Dec. 15, 2034, and $1.13 billion of 6.625% senior secured notes due June 15, 2036.

$BP$SHEL$VG$WDS$XOM

Sectors11d ago

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.1%.US consumer sentiment has rebounded in June as gasoline prices eased, while the inflation outlook dropped, the University of Michigan's preliminary survey showed Friday. The main sentiment index rose 9.2% sequentially to 48.9 this month, following three consecutive drops. The consensus was for a 46 print in a Bloomberg poll.In corporate news, Target (TGT) is showing early signs of a potential multiyear turnaround after a strong start to 2026, with UBS Securities saying the retailer's transformation has multiple stages beyond the initial comp recovery. UBS has a buy rating on the stock and a price target of $144. Target shares climbed 2.1%.Lennar (LEN) shares fell 4.3% after the homebuilder issued a fiscal Q3 delivery outlook below market estimates, while its revenue trailed expectations in the previous three-month period amid persistent housing market headwinds.Uber (UBER) is contacting parties interested in Delivery Hero's regional businesses as it seeks regulatory approval for its planned takeover of the German food delivery company, Bloomberg reported. Uber shares were down 1.5%.Pilgrim's Pride (PPC) shares added 1.5% after it said Friday it is investing $75 million to expand and overhaul its poultry facility in Ellijay, Georgia.

$LEN$PPC$TGT$UBER

Sectors11d ago

Sector Update: Healthcare Stocks Softer Late Afternoon

Healthcare stocks edged lower late Friday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each decreasing 0.2%.The iShares Biotechnology ETF (IBB) increased 0.2%.In corporate news, Merck's (MRK) Belzutifan in combination with pembrolizumab has been approved for the adjuvant treatment of adults with renal cell carcinoma, the US Food and Drug Administration said Friday. Merck shares were down 1%.AstraZeneca (AZN) said Friday the US Food and Drug Administration approved Truqap in combination with abiraterone and prednisone for adults with PTEN-deficient metastatic androgen pathway modulation-naive or sensitive prostate cancer. AstraZeneca shares were declining 1.6%.Jazz Pharmaceuticals (JAZZ) shares fell 1.2% after it said a phase 3 trial of Zepzelca in second-line metastatic small cell lung cancer failed to meet its primary endpoint.Avalo Therapeutics' (AVTX) lead drug abdakibart is now a cleaner immunology story following positive phase 2 trial data to treat skin disease hidradenitis suppurativa, BofA Securities said. BofA started coverage of the stock with a buy rating and a price target of $35. Avalo shares jumped past 7%.

$AVTX$AZN$JAZZ$MRK

Sectors11d ago

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks rose in late Friday afternoon trading, with the NYSE Financial Index increasing 1.3% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1.4%.The Philadelphia Housing Index was up 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.7%.Bitcoin (BTC-USD) was increasing 0.2% to $63,705, and the yield for 10-year US Treasuries rose 1.8 basis points to 4.48%.In economic news, US consumer sentiment has rebounded in June as gasoline prices eased, while the inflation outlook dropped, the University of Michigan's preliminary survey showed Friday. The main sentiment index rose 9.2% sequentially to 48.9 this month, following three consecutive drops. The consensus was for a 46 print in a Bloomberg poll.In sector news, US banking regulators are ramping up their review of the use of AI in financial services, along with its potential risks, Reuters reported. The US Federal Reserve and the Office of the Comptroller of the Currency have started asking banks to detail their use of AI in lending and customer checks, among other processes, during routine bank assessments, the report said.In corporate news, Robinhood (HOOD) saw heavy traffic Friday, leading to latency and intermittent issues for some customers, the company's official help account said in a post on X. Essential systems have recovered and teams are closely monitoring the situation, according to the social media post. Robinhood shares rose 1.4%.Vanguard has surpassed BlackRock (BLK) to become the largest exchange-traded fund issuer in the US, with about $4.39 trillion in assets across its US-listed ETFs, Bloomberg reported. The milestone follows approximately $13 billion in net inflows in the latest session, pushing Vanguard's ETF assets above the roughly $4.36 trillion managed by BlackRock, the report said. BlackRock shares were up 1.6%.BlackRock and State Street Investment Management (STT) are facing fresh competition as New York City's pension system opens a bidding process for about $92 billion of stock index funds the two firms currently oversee, Bloomberg reported. BlackRock manages about $65 billion of the passive equity portfolio and State Street about $27 billion, the report said. State Street shares rose 1.5%.HSBC (HSBC) has roughly $400 million of exposure to IFFCO, a consumer goods company in the Middle East that has struggled for months to restructure about $2 billion in debt, Bloomberg reported. HSBC shares were rising 2.1%.

$BLK$HOOD$HSBC$STT

Sectors11d ago

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.9% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.8%.The Philadelphia Semiconductor index climbed 2.1%.In corporate news, Space Exploration Technologies (SPCX) shares jumped past 19% as Elon Musk's rocket and satellite company debuted on the Nasdaq in what is poised to be the world's biggest initial public offering ever.Advanced Micro Devices (AMD) shares gained 4.8% after Citi upgraded the stock to buy from neutral and raised its price target to $575 from $460.Adobe's (ADBE) CFO departure and fiscal 2026 organic annual recurring revenue outlook have created more uncertainty for the company, outweighing its fiscal Q2 results, RBC Capital Markets said in a note emailed Friday. Adobe shares fell past 6%.Meta Platforms (META) said Friday that Facebook and Instagram were recovering after users reported issues accessing the social media platforms earlier in the day. Meta shares were down 0.3%.

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Sectors11d ago

Sector Update: Financial Stocks Advance Late Afternoon

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