Financial News · Live Terminal

Page 14 of 102

US Energy Secretary Says Half of Hormuz Oil Shipments Have Been Restored, Bloomberg Reports

Trump Says Deal Terms Iran Leaked Are Not What Was Agreed To in Writing

Natural Gas Moves Higher Despite Mild Forecasts for Big Markets

Natural gas price rose early on Friday despite mild forecasts for the big markets on the Northeast and Upper Midwest and a day-prior report showing a larger than expected rise in inventories of the fuel.Gas for July delivery was last seen up US$0.03 to US$3.11 per million British thermal units.The rise comes even as long-term forecasts from the National Weather Service expect temperatures in the Northeast and Upper Midwest to be cooler than seasonal over its six to 10 day outlook, easing demand for air conditioning.In its weekly survey of stocks of the fuel, the Energy Information Administration on Thursday said inventories last week rose by 108-billion cubic feet of the fuel, above the consensus estimate for a rise of 100-bcf, according to NatGasWeather. The rise left inventories at 2.69-trillion cubic feet, 6% above the five-year average.

$NGN6$UNG

Sectors11d ago

Sector Update: Energy Stocks Decline Premarket Friday

Energy stocks were declining premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.5% lower.The United States Oil Fund (USO) was down 1.5% and the United States Natural Gas Fund (UNG) was 0.4% higher.Front-month US West Texas Intermediate crude oil was 2.7% lower at $85.37 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.3% to $88.31 per barrel, and natural gas futures were up 0.1% at $3.09 per 1 million British Thermal Units.Venture Global (VG) stock was down more than 1% after the company said 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.Western Midstream Partners (WES) said it has completed the acquisition of Brazos Delaware in a cash-and-stock deal valued at around $1.6 billion. Western Midstream Partners shares were 0.7% lower pre-bell.

$UNG$USO$VG$WES$XLE

Sectors11d ago

Sector Update: Financial Stocks Rise Premarket Friday

Financial stocks were rising premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.4% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.2% lower.Barclays (BCS) has agreed to acquire the UK operations of GoHenry, a money management education platform for youths, from Acorns Grow, the British financial services giant said. Shares of Barclays were up more than 1% pre-bell.Deutsche Bank (DB) has appointed Robert Huray as head of investment banking and capital markets for Southeast Asia, Bloomberg reported, citing people familiar with the matter. Deutsche Bank stock was more than 2% higher premarket.Charles Schwab (SCHW) said its Schwab Asset Management unit received board approval to close and liquidate the Schwab Ariel Opportunities ETF. Charles Schwab shares were up 0.6% pre-bell.

$BCS$DB$FAS$FAZ$SCHW$XLF

Sectors11d ago

Sector Update: Healthcare Stocks Advance Pre-Bell Friday

Healthcare stocks were advancing pre-bell Friday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.5% higher and the iShares Biotechnology ETF (IBB) up 0.3%.BeOne Medicines (ONC) stock was up more than 1% after the company said new data for tacabrutideg, a Bruton's tyrosine kinase degrader, showed "durable responses" in pretreated relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma patients and promising activity in BTK inhibitor-naive patients.BioCryst Pharmaceuticals' (BCRX) Orladeyo was associated with "early and sustained reductions" in hereditary angioedema or HAE attacks, demonstrated by new clinical data from the ongoing APeX-P study, the company said. BioCryst Pharmaceuticals shares were up 0.1% premarket.Rocket Pharmaceuticals (RCKT) stock was up nearly 2% after the company closed the $180 million sale of its rare pediatric disease priority review voucher.

$BCRX$IBB$ONC$RCKT$XLV

Sectors11d ago

Sector Update: Consumer Stocks Edge Higher Premarket Friday

Consumer stocks were edging higher premarket Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advancing by 0.5%.US Foods (USFD) was awarded a maximum $167 million firm-fixed-price with economic-price-adjustment, indefinite-delivery/indefinite-quantity contract for full-line food and beverage items by the Defense Logistics Agency, the US Department of Defense said. US Foods shares were down 2% pre-bell.Sleep Number (SNBR) said it agreed to combine with Sleep Country Canada under an asset purchase agreement and launched a voluntary Chapter 11 sale process to facilitate the transaction. Sleep Number shares were down 38% premarket.Build-A-Bear Workshop's (BBW) said Chief Operations and Experience Officer Chris Hurt assumed the role of chief executive officer on Thursday as part of a planned succession. Build-A-Bear Workshop stock was down more than 1% pre-bell.

$BBW$SNBR$USFD$XLP$XLY

Sectors11d ago

Sector Update: Tech Stocks Mixed Premarket Friday

Technology stocks were mixed premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.5% higher.Adobe (ADBE) stock was down more than 9% even after the company reported higher fiscal Q2 adjusted earnings and revenue. Adobe also said Chief Financial Officer Dan Durn will exit the company on Monday to pursue a new opportunity.Seagate Technology (STX) said its Seagate HDD Cayman unit issued a notice to redeem all outstanding 3.50% exchangeable senior notes due 2028 that have not been exchanged. Seagate Technology stock was up more than 1% pre-bell.Sharon AI (SHAZ) has entered a six-year strategic compute collaboration with Nvidia (NVDA) to expand AI infrastructure in Australia, including deployment of up to 40,000 Grace Blackwell GB300 GPUs, the company said. Sharon AI shares were up more than 7% premarket.

$ADBE$NVDA$SHAZ$STX$XLK$XSD

Sectors11d ago

Sector Update: Energy

Energy stocks were declining premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.5% lower.The United States Oil Fund (USO) was down 1.4% and the United States Natural Gas Fund (UNG) was 0.5% higher.Front-month US West Texas Intermediate crude oil was 2.7% lower at $85.33 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.4% to $88.25 per barrel, and natural gas futures were up 0.5% at $3.10 per 1 million British Thermal Units.Venture Global (VG) stock was down more than 1% after the company said 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.

$VG

Sectors11d ago

Gold Rises Off a Seven-Month Low on Hopes a U.S.-Iran Peace Deal is Near

Gold traded sharply higher early on Friday, rising off a seven-month low on expectations Iran is ready to sign a peace deal with the United States, promising to lower the high oil prices that have raised inflation and boosted the U.S. dollar and bond yields.Gold for July delivery was last seen up US$108.00 to US$4,222.00 per ounce after falling to the lowest since Nov. 20 a day earlier.The rise comes as U.S. President Trump on Thursday said he canceled planned attacks on Iran and said a peace deal with the country is near. Reports said a deal could be signed this weekend, however the Wall Street Journal said Iran has not yet agreed to the peace proposal, though Qatar's leader, Sheikh Tamim bin Hamad al-Thani, who is mediating talks, confirmed progress is being made on a agreement.A deal could see the Strait of Hormuz reopen freeing up trapped supplies from the Persian Gulf nations that supplied about 20% of daily oil demand before the Strait was closed to shipping at the Feb. 28 start of the war, easing the high oil prices that have boosted inflation and threatened to force central banks to raise interest rates."Before the market can look beyond the next headline and refocus on longer-term supportive themes, investors need confidence that the inflation genie is being pushed back into the bottle. For that to happen, markets will need a peace agreement signed and endorsed by both sides," Saxo Bank wrote.The dollar was steady early, with the ICE dollar index last seen down 0.02 points to 99.83. Treasury yields rose, bearish for gold since it pays no interest. The U.S. two year note was last seen paying 4.093%, up 2.1 basis points, while the yield on the 10-year note was up 1.7 points to 4.489%.

$GCN6$GLD

Sectors11d ago

Sector Update: Financial

Financial stocks were advancing premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.4% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.1% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.8% lower.Barclays (BCS) has agreed to acquire the UK operations of GoHenry, a money management education platform for youths, from Acorns Grow, the British financial services giant said. Shares of Barclays were up more than 1% pre-bell.

$BCS

Sectors11d ago

Sector Update: Healthcare

Healthcare stocks were mixed pre-bell Friday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.1% higher and the iShares Biotechnology ETF (IBB) down 0.1%.BeOne Medicines (ONC) stock was up 1.8% after the company said new data for tacabrutideg, a Bruton's tyrosine kinase degrader, showed "durable responses" in pretreated relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma patients and promising activity in BTK inhibitor-naive patients.

$ONC

Sectors11d ago

Sector Update: Consumer

Consumer stocks were edging higher premarket Friday, 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) advancing by 0.7%.US Foods (USFD) was awarded a maximum $167 million firm-fixed-price with economic-price-adjustment, indefinite-delivery/indefinite-quantity contract for full-line food and beverage items by the Defense Logistics Agency, the US Department of Defense said. US Foods Holding shares were up 2% pre-bell.

$USFD

Sectors11d ago

Sector Update: Tech

$ADBE

Sectors11d ago

Oil Falls to a Two-Month Low on Reports a U.S. Peace Deal With Iran is Near

Oil prices fell for a second day early on Friday, falling to the lowest in nearly two months on expectations the United States and Iran are near a deal to end their war and reopen the Strait of Hormuz.West Texas Intermediate crude oil for July delivery was last seen down US$3.07 to US$84.64, the lowest since April 17, while August Brent oil was down US$2.95 to US$87.43.The drop comes as U.S. President Trump on Thursday said he canceled planned attacks on Iran and said a peace deal with the country is near. Reports said a deal could be signed this weekend, however the Wall Street Journal said Iran has not yet agreed to the peace proposal, though Qatar's leader, Sheikh Tamim bin Hamad al-Thani, which is mediating talks, confirmed progress is being made on a agreement.A deal could see the Strait of Hormuz reopen freeing up trapped supplies from the Persian Gulf nations that supplied about 20% of daily oil demand before the Strait was closed to shipping at the Feb. 28 start of the war. Traders are expecting a peace deal to offer a quick boost to supply as tankers trapped within the Gulf since the Strait was closed move to market, easing worries over depleted inventories and ending the largest ever supply shock."Oil slumped after President Trump talked up another peace deal, with markets this time appearing increasingly willing to believe it may be for real, despite the lack of confirmation from Tehran. Brent crude fell to a two-month low amid expectations of a surge in supply from tankers currently stranded in the Gulf," Saxo Bank wrote.Still, a recovery of normal supply from the Persian Gulf is expected to be slow, as damage to infrastructure from the war is repaired and countries in the region restart shut-in oil fields, continuing the draw down on global inventories began with the start of the conflict."Once the traffic through the Strait of Hormuz gradually begins to resume and shut-in oil production increasingly restarts, we assume (Brent) oil prices will begin to fall, decreasing to an average of $89/b by 4Q26. We assess that most shut-in oil production will be fully restored in 1Q27 and that global oil inventories will again start building, gradually lowering oil prices to an average of $79/b in 2027," the U.S. Energy Information Administration said in its monthly Short-Term Oil Energy Outlook released this week.

$CLN6$LCOQ6$USO

Sectors11d ago

Rosenberg Research Notes Canadian Dollar Underpeforming Amid Lower Oil Prices

With the prospect of lower geopolitical tensions and a peace deal in sight between the United States and Iran, the US dollar (USD) has sold off early Friday as the demand for safe havens cooled, said Rosenberg Research.Oil prices are responding to the possibility of a deal between the U.S. and Iran, as both Brent and WTI have pulled back by more than 4.0%, noted Rosenberg Research.The other currencies that are underperforming as things settle are the Canadian dollar (CAD or loonie) and the Norwegian krone (NOK), two currencies that markets closely identify with oil price moves, stated Rosenberg.

$CAD$CXY$NOK$USD

Sectors11d ago

U.S. Henry Hub Spot Price Rises in Week Ended June 10, EIA Reports

The U.S. benchmark Henry Hub spot price rose US$0.31/million British thermal units to $3.26/MMBtu in the week ended June 10, the U.S. Energy Information Administration said in its Weekly Natural Gas Storage Report Supplement released Thursday.Total U.S. natural gas consumption increased by 2.7 billion cubic feet per day week over week, led by a 10% rise in the electric power sector due to above-normal temperatures across the Northern and Central U.S., the EIA said.U.S. natural gas supply declined 0.5 Bcf/d, driven by lower dry natural gas production, the EIA reported, citing LSEG Data.The LNG-carrying capacity of vessels departing the U.S. was 129 Bcf, up 18 Bcf week over week. Thirty-four LNG vessels left the U.S., five vessels more than in the previous week.Net injections into storage amounted to 108 Bcf for the week ended June 5, resulting in total working gas stocks of 2,686 Bcf, according to EIA estimates. This was 151 Bcf more than the five-year average and 5 Bcf lower than the year-ago period.

$NGV1$UNG$UNL

Sectors11d ago

Crude Oil Prices Drop as Trump Cancels New Strikes on Iran

Crude oil prices dropped on Friday after U.S. President Donald Trump called off planned strikes on Iran amid progress in peace talks.Brent crude at last look lost 4.4% to US$86.42/barrel and West Texas Intermediate crude fell 4.5% to $83.79/barrel. Prices hit their lowest levels in nearly two months after Trump said a deal that would reopen the Strait of Hormuz could be signed as soon as this weekend, Reuters said in a Friday report."Headlines are driving the market once again, as confidence grows that an eventual deal will be struck and the Strait reopens," Reuters quoted PVM Oil Associates analyst Tamas Varga as saying.However, global and regional oil stocks remain low, and a deal may not be enough to boost stocks as it would take time to ensure uninterrupted oil flows, the analyst added, according to Reuters.The Organization of the Petroleum Exporting Countries on Thursday reduced its 2026 global oil demand growth forecast to 970,000 barrels per day, down from a previous forecast of 1.17 million barrels per day. This is the producer group's second straight downward revision, the report said.

$CLX1$LCOX1$USO

Sectors12d ago

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks fell late Thursday afternoon, with the NYSE Energy Sector Index down 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 1.6%.The Philadelphia Oil Service Sector Index was rising 0.7%, and the Dow Jones US Utilities Index was up 0.8%.President Donald Trump said Thursday on Truth Social he has cancelled previously announced strikes on Iran tonight as "final points" of a deal have been, "in both concept and great detail, approved by all parties involved." He said the time and place of a deal signing between the nations will "be announced shortly."Front-month West Texas Intermediate crude oil fell 4.2% to $86.23 a barrel, and the global benchmark Brent crude contract dropped 4.6% to $88.82 a barrel. Henry Hub natural gas futures shed 3.3% to $3.08 per 1 million BTU.In sector news, the Organization of the Petroleum Exporting Countries on Thursday lowered its global oil demand growth forecast for this year but raised its expectations for 2027. The cartel now expects oil consumption to rise by 970,000 barrels a day this year, down from its prior estimate that called for an increase of 1.17 million barrels. For 2027, OPEC now expects world oil demand to rise by 1.73 million barrels a day, compared with its last month's forecast of a 1.54 million-barrel increase.In corporate news, BP (BP) should provide clarity on its medium-term growth targets and balance sheet goals amid the ongoing boardroom drama with the recent removal of Chair Albert Manifold, RBC Capital Markets said in a note. BP shares were down 0.6%.Oklo (OKLO) shares jumped 7% after it said Thursday that the US Department of Energy has approved the preliminary documented safety analysis for the Aurora powerhouse at Idaho National Laboratory under the department's Reactor Pilot Program.Energy Fuels (UUUU) shares surged 10% after the company said it expects finished uranium production at its White Mesa Mill to reach about 1.6 million pounds by June 30, which would already be within its full-year guidance range of 1.5 million to 2.5 million pounds of U3O8.Black Hills' (BKH) pending merger with NorthWestern Energy (NWE) has an underappreciated strategic value as the combination will likely offer larger scale, stronger balance sheet, and wider jurisdictional diversity, BofA said in a note. BofA upgraded Black Hills to buy from neutral and increased the company's price target to $78 from $76. Black Hills shares rose 0.3%.

$BKH$BP$OKLO$UUUU

Sectors12d ago

Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks advanced in late Thursday afternoon trading, with the NYSE Financial Index rising 1.2% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1%.The Philadelphia Housing Index climbed 3.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.4%.Bitcoin (BTC-USD) gained 3.2% to $63,436, and the yield for 10-year US Treasuries dropped 8.3 basis points to 4.459%.In economic news, core producer price index, which excludes the more volatile food and energy prices, increased by 0.4% in May, slower than the 0.5% gain expected in a Bloomberg-compiled poll and following a 0.7% gain in April. Core PPI remained at 4.9% year-over-year, but below the 5.4% consensus.US initial jobless claims rose to a level of 229,000 in the week ended June 6 from an unrevised level of 225,000 in the previous week, compared with expectations for an increase to 220,000 in a survey of analysts compiled by Bloomberg.In sector news, the US Supreme Court on Thursday overturned a lower court ruling, blocking activist investors from suing closed-end mutual funds over maneuvers they take to avoid activist-investor takeovers. Saba Capital Master Fund, which led the suing investors, alleged that such moves, like incorporating in favorable jurisdictions, violate the Investment Company Act of 1940.In corporate news, Citigroup (C) launched tokenized depositary receipts for private-company shares, expanding its use of blockchain technology in private markets. Citi shares rose 3.6%.BlackRock (BLK) placed an order to buy at least $5 billion worth of SpaceX shares, the Wall Street Journal reported. Individual investors placed more than $70 billion in orders, and the company also attracted demand from sovereign wealth funds and family offices, including a single family office order of over $1 billion, the report said. BlackRock shares were up 0.8%.KKR (KKR) and co-investors will acquire a majority stake in Chicago-based accounting firm Crowe in a $3 billion deal, The Wall Street Journal reported. Separately, KKR said it launched Helix Digital Infrastructure, a platform with over $10 billion in committed capital to finance AI infrastructure. KKR shares were up 0.1%.Charles Schwab (SCHW) said Thursday that it has lowered expense ratios on four of its equity index ETFs, including funds tracking US mid-cap, small-cap, international small-cap, and emerging markets stocks. Its shares eased 0.1%.

$BLK$C$KKR$SCHW

Showing 261-280 of 2037

Sectors12d ago

Sector Update: Energy Stocks Fall Late Afternoon

$BKH$BP$OKLO$UUUU