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Sector Update: Tech

Tech stocks were sharply higher Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 6% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 6.9%.The Philadelphia Semiconductor index popped 7.8%.In corporate news, Microsoft (MSFT) shares jumped past 16% on Thursday, a day after the company reported higher-than-expected fiscal Q4 results. The company reported solid fiscal Q4 results and guidance, with its Azure, M365 Cloud and Copilot businesses reflecting rapid growth, countering the AI disruption narrative, Oppenheimer said in a note.

$MSFT

Sectors8d ago

US Natural Gas Stocks Posts Smaller Increase Than Expected in Week Ended July 24

US natural gas stocks rose by 28 billion cubic feet in the week ended July 24, a smaller rise than the 35 billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 32 billion cubic feet in the previous week.Stocks at 3.084 trillion cubic feet are 1.0% lower than in the comparable week a year ago but 6.4% above their 5-year average.

Sectors8d ago

US Natural Gas Stocks Rose by 28 Bln Cubic Feet in Week Ended July 24 Vs. Expected 35 Bln Increase; Prior Gain of 32 Bln

Sectors8d ago

Sector Update: Energy Stocks Lean Lower Premarket Thursday

Energy stocks were leaning lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 1.1%.The United States Oil Fund (USO) was down 2% and the United States Natural Gas Fund (UNG) was 1.1% lower.Front-month US West Texas Intermediate crude oil was 0.6% lower at $83.96 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.9% to $89.96 per barrel, and natural gas futures were down 1.1% at $2.69 per 1 million British Thermal Units.Shell (SHEL) shares were up more than 1% after the company reported higher Q2 adjusted earnings and revenue.Cactus (WHD) stock was up nearly 6% after the company posted higher Q2 adjusted earnings and revenue.Valero Energy (VLO) stock was down more than 2% even after the company posted higher Q2 adjusted earnings and revenue.

$SHEL$UNG$USO$VLO$WHD$XLE

Sectors8d ago

Sector Update: Financial Stocks Edge Higher Pre-Bell Thursday

Financial stocks were edging higher pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.1% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.3%.Banco Bilbao Vizcaya Argentaria (BBVA) stock was up more than 6% after the company posted higher Q2 adjusted earnings and gross income.ING Groep (ING) shares were up more than 5% after the company posted higher Q2 earnings and total income.Intercontinental Exchange (ICE) said it has entered a definitive agreement to acquire MarketAxess Holdings (MKTX) for $167 per share in cash, representing an enterprise value of about $5.7 billion and an equity value of about $6.0 billion. MarketAxess Holdings stock was up more than 29% premarket.

$BBVA$FAS$FAZ$ICE$ING$MKTX$XLF

Sectors8d ago

Sector Update: Healthcare Stocks Decline Premarket Thursday

Healthcare stocks were declining premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 1.4% and the iShares Biotechnology ETF (IBB) 1.6% lower.Johnson & Johnson (JNJ) said it has entered into strategic agreements with Sail Biomedicines to advance the biotech's in vivo CAR-T therapy platform for immune-mediated diseases, including an equity investment and an exclusive option to acquire Sail for $2.58 billion. Shares of Johnson & Johnson were down more than 2% pre-bell.Bristol-Myers Squibb (BMY) stock was down more than 1% even after the company posted higher Q2 non-GAAP earnings and revenue, and raised its 2026 outlook.Regeneron Pharmaceuticals (REGN) shares were up more than 1% after the company reported higher Q2 adjusted earnings and revenue.

$BMY$IBB$JNJ$REGN$XLV

Sectors8d ago

Sector Update: Consumer Stocks Mixed Pre-Bell Thursday

Consumer stocks were mixed pre-bell Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 1.4% lower and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advancing by 1.1%.Altria Group (MO) stock was down more than 5% after the company reported Q2 adjusted earnings that missed analysts' expectations.Anheuser-Busch InBev (BUD) shares were down more than 2% even after the company posted higher Q2 underlying earnings and revenue.Hershey (HSY) stock was 0.4% lower even after the company reported higher Q2 adjusted earnings and revenue.

$BUD$HSY$MO$XLP$XLY

Sectors8d ago

Sector Update: Tech Stocks Rise Premarket Thursday

Technology stocks were rising premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) 3.1% higher and the State Street SPDR S&P Semiconductor ETF (XSD) up 3%.Microsoft (MSFT) shares were up more than 9% after the company reported higher fiscal Q4 adjusted earnings and revenue.Meta Platforms (META) stock was down more than 9% after the company posted a decline in Q2 earnings, missing analysts' expectations.Check Point Software Technologies (CHKP) shares were down more than 11% after the company reported Q2 revenue below analysts' expectations.

$CHKP$META$MSFT$XLK$XSD

Sectors8d ago

Sector Update: Energy

Energy stocks were leaning lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.8%.The United States Oil Fund (USO) was down 0.9% and the United States Natural Gas Fund (UNG) was 1.3% lower.Front-month US West Texas Intermediate crude oil was 0.7% lower at $83.89 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.8% to $90.03 per barrel, and natural gas futures were down 1.4% at $2.68 per 1 million British Thermal Units.Shell (SHEL) shares were up 2% after the company reported higher Q2 adjusted earnings and revenue.

$SHEL

Sectors8d ago

Canadian Oilseed Processing Rises 12.8% Monthly in June, Statistics Canada Reports

Canadian oilseed processers crushed 1.2-million tonnes of canola in June, Statistics Canada reported on Thursday, up 12.8% from May.The agency said canola oil production stood at 494.6-thousand tonnes in the month, while meal production was 684.1-thousand tonnes.Processers handled a total 1.17-million tonnes of canola in June, up from 1.04-million tonnes in May.There are 15 crushing and refining plants in Canada, according to the Canola Council of Canada, processing the output of 20-million seeded acres of the crop. It is primarily grown in Western Canada.

$RSV6

Sectors8d ago

Sector Update: Financial

$BBVA

Sectors8d ago

Sector Update: Healthcare

Healthcare stocks were declining premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 1.5% and the iShares Biotechnology ETF (IBB) 0.4% lower.Johnson & Johnson (JNJ) said it has entered into strategic agreements with Sail Biomedicines to advance the biotech's in vivo CAR-T therapy platform for immune-mediated diseases, including an equity investment and an exclusive option to acquire Sail for $2.58 billion. Shares of Johnson & Johnson were down more than 2% pre-bell.

$JNJ

Sectors8d ago

Sector Update: Consumer

Consumer stocks were mixed pre-bell Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 1.3% lower and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) marginally advancing.Altria Group (MO) stock was down more than 4% after the company reported Q2 adjusted earnings that missed analysts' expectations.

$MO

Sectors8d ago

Sector Update: Tech

Technology stocks were rising premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) 2.9% higher and the State Street SPDR S&P Semiconductor ETF (XSD) up 3.5%.Microsoft (MSFT) shares were up more than 9% after the company reported higher fiscal Q4 adjusted earnings and revenue.

$MSFT

Sectors9d ago

Commerzbank Says Oil Steady, 30-Year Treasury Yields Reach 19-Year High after Fed on Hold

Brent crude traded little changed around $91 per barrel amid the resumption of armed hostilities between the US and Iran and after Wednesday's price surge, according to Commerzbank Research in a note.The Federal Reserve's decision to leave interest rates unchanged on Wednesday initially buoyed markets, but the relief was short-lived, according to Commerzbank. Treasury yields bear-steepened, with the 30-year yield surpassing 5.23%, its highest level in nearly two decades.The Fed statement reaffirmed that inflation remains elevated, while solid economic growth and steady job gains continue to support the labor market. Fed Chair Kevin Warsh described the US economy as "impressively resilient". Warsh characterized policy as one of "watchful thinking," noting that persistently high inflation could necessitate higher interest rates.US equities ended sharply lower Wednesday, triggering a sell-off across Asian markets. However, US equity futures have since recovered, while a weaker US dollar pushed EUR/USD above 1.145, added Commerzbank.China criticised recent US measures targeting power inverters and robotics as discriminatory and pledged to protect its interests.In Europe, Britain's new Prime Minister Andy Burnham declined to commit to raising the country's defense spending to 3% of gross domestic product by 2030. France's second-quarter GDP increased 0.2% quarter over quarter, as expected, said the bank.

$CXY$USD$EUR/USD

Sectors9d ago

Sector Update: Energy Stocks Gain Late Afternoon

Energy stocks rose late Wednesday afternoon, with the NYSE Energy Sector Index gaining 2.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.8%.The Philadelphia Oil Service Sector Index fell 0.8%, and the Dow Jones US Utilities Index shed 1.3%.In geopolitical news, President Donald Trump said Iran will be hit hard, according to Fox News. The US Central Command said it joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.West Texas Intermediate crude oil jumped 6.3% to $84.28 a barrel, and global benchmark Brent surged 7.4% to $90.32 a barrel. Henry Hub natural gas futures rose 2.4% to $2.73 per 1 million BTU.In corporate news, Shell (SHEL) and Phillips 66 (PSX) are exploring a sale of their combined stakes in the Explorer refined products pipeline in a deal that may value the asset at $3.5 billion, Reuters reported. Shell shares rose 2.5%, and Phillips 66 added 0.2%.Baker Hughes (BKR) shares were up 1.6% after the company said it secured a major order for 76 NovaLT 16 gas turbines from Dynamis Power Solutions.Woodside Energy (WDS) shares rose 4.9% after it reported higher Q2 operating revenue.Carlyle (CG), Energean, Dragon Oil, and Artemis Energy are among the companies that are anticipated to bid for BP's (BP) West Nile Delta natural gas development off Egypt this week, Reuters reported. BP shares were up 4.2%.

$BKR$BP$PSX$SHEL$WDS

Sectors9d ago

Sector Update: Financial Stocks Decline Late Afternoon

Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index down 1.2% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.7%.The Philadelphia Housing Index dropped 4.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 0.4%.Bitcoin (BTC-USD) was increasing 0.5% to $64,166, and the yield for 10-year US Treasuries rose 1.8 basis points to 4.622%.In economic news, the Federal Open Market Committee maintained its target range for the federal funds rate at 3.50% to 3.75% on a 9-3 vote Wednesday afternoon, making few changes to its policy statement from the previous meeting.In corporate news, Gemini Space Station (GEMI) shares dropped 6.9% after Goldman Sachs downgraded the stock to sell from neutral, and trimmed the price target to $4 from $4.75.Bridgepoint Group's Bridgepoint Credit is set to become the majority owner of Carlyle (CG) portfolio company Anthesis Consulting via a recapitalization deal, Bloomberg reported. Separately, Carlyle, Energean, Dragon Oil, and Artemis Energy are among the companies that are expected to bid for BP's (BP) West Nile Delta natural gas development off Egypt this week, Reuters reported. Carlyle shares were down 3.2%.Visa (V) shares rose 0.8% after it reported fiscal Q3 results above consensus estimates as consumer and business spending helped drive annual gains in payments volume.CBIZ (CBZ) agreed to be acquired by accounting and advisory firm Grant Thornton Advisors in an all-cash deal worth about $5 billion, creating one of the largest providers of professional services, tax and advisory services in the US. CBIZ shares jumped past 17%.

$CBZ$CG$GEMI$V

Sectors9d ago

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.3%.In corporate news, Wingstop (WING) reported stronger-than-expected fiscal Q2 earnings and reiterated its global unit growth outlook. Its shares gained 3.5%.Netflix (NFLX) is paying $200 million for the broadcast rights to the 2027 Women's World Cup, Bloomberg reported. Netflix shares rose 1.3%.Ford (F) shares climbed 3.1% after the carmaker lifted its full-year core profit outlook, while it also reported an unexpected year-over-year increase in its Q2 earnings and recorded revenue above market estimates.Procter & Gamble's (PG) fiscal Q4 revenue fell short of market estimates, while the consumer goods giant said higher costs could weigh on its fiscal 2027 earnings. Its shares fell 2.7%.VF (VFC) shares fell past 17% after the apparel and footwear company reported a wider-than-expected fiscal Q1 loss despite topping Wall Street's revenue estimates.

$F$NFLX$PG$VFC$WING

Sectors9d ago

Sector Update: Tech Stocks Decline Late Afternoon

Tech stocks were lower late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) shedding 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 3.3%.The Philadelphia Semiconductor index dropped 3.7%.In corporate news, Microsoft-backed (MSFT) OpenAI's ChatGPT is nearing 1 billion weekly active users, The Information reported. OpenAI originally targeted to hit the milestone by the end of last year, the report said. Microsoft shares were up 0.5%.Vertiv (VRT) shares fell nearly 17% after the company's Q2 revenue increased year on year but missed analysts' estimates.Alphabet's (GOOGL) Google DeepMind has dismantled the team behind its Nobel Prize-winning AlphaFold AI system, reassigning most researchers to Gemini-related projects and other scientific initiatives as it shifts its research strategy, the Financial Times reported. Alphabet shares added 0.7%.Cognizant Technology Solutions (CTSH) shares jumped 12% after it reported higher Q2 adjusted earnings and revenue.

$CTSH$GOOGL$MSFT$VRT

Sectors9d ago

Sector Update: Financial

Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index down 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.2%.The Philadelphia Housing Index dropped 3.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was fractionally lower.Bitcoin (BTC-USD) was increasing 0.5% to $64,166, and the yield for 10-year US Treasuries rose 1.8 basis points to 4.622%.In economic news, the Federal Open Market Committee maintained its target range for the federal funds rate at 3.50% to 3.75% on a 9-3 vote Wednesday afternoon, making few changes to its policy statement from the previous meeting.In corporate news, Bridgepoint Group's Bridgepoint Credit is set to become the majority owner of Carlyle (CG) portfolio company Anthesis Consulting via a recapitalization deal, Bloomberg reported. Separately, Carlyle, Energean, Dragon Oil, and Artemis Energy are among the companies that are expected to bid for BP's (BP) West Nile Delta natural gas development off Egypt this week, Reuters reported. Carlyle shares were down 1.7%.

$CG

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