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Sector Update: Financial Stocks Rise Monday Afternoon

Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1%.The Philadelphia Housing Index was increasing 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.2%.Bitcoin (BTC-USD) was rising 2.3% to $72,375, and the yield for 10-year US Treasuries was slightly lower at 4.309%.In economic news, the pace of US existing home sales fell by 3.6% to a 3.98 million seasonally adjusted annual rate in March from 4.13 million in February, compared with a smaller decrease expected to a 4.05 million rate in a survey compiled by Bloomberg as of 7:30 am ET, data from the National Association of Realtors released Monday showed.In corporate news, Goldman Sachs (GS), which reported higher Q1 earnings and net revenue pre-bell, is launching a new three-tranche offering in the US investment-grade debt market, with bond maturities spanning four to eight years, Bloomberg reported. Goldman shares were down 2%.Blackstone (BX) is partnering with I Squared Capital on a potential offer for the core advertising business of German media group Stroer, Bloomberg reported. Blackstone shares gained 5.2%.KKR (KKR) said its real estate arm plans to significantly ramp up property acquisitions in Japan, targeting a market it estimates at about 450 trillion yen ($2.8 trillion), as companies increasingly divest non-core assets, Bloomberg reported. KKR shares climbed 6.2%.

$BX$GS$KKR

Sectors116d ago

Sector Update: Energy

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.3%.The Philadelphia Oil Service Sector Index was climbing 1.4%, and the Dow Jones US Utilities Index was falling 1.2%.In sector news, oil prices rose Monday as a deadline passed for the start of a US blockade of maritime traffic around Iran's ports. The blockade of maritime traffic entering and exiting Iranian ports was set to start at 10 am ET on Monday, according to a statement issued by the US Central Command, or CENTCOM, on Sunday.Front-month West Texas Intermediate crude oil was rising 3.2% to $99.72 a barrel, and the global benchmark Brent crude contract was advancing 5% to $99.93 a barrel. Henry Hub natural gas futures shed 0.6% to $2.63 per 1 million BTU.In corporate news, Chevron (CVX) and Shell (SHEL) are set to sign agreements involving oil and gas areas in Venezuela, Reuters reported. Chevron shares rose 1%, and Shell added 0.5%.

$CVX$SHEL

Sectors116d ago

Sector Update: Tech

Tech stocks were higher Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.2%.The Philadelphia Semiconductor index increased 0.8%.In corporate news, Microsoft (MSFT) is developing new features for Copilot it hopes will make the AI assistant function more like OpenClaw, The Information reported. Microsoft shares were up 2.8%.

$MSFT

Sectors116d ago

Sector Update: Consumer

Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) dropping 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.4%.In corporate news, Somnigroup International (SGI) on Monday agreed to acquire bedding and furniture components maker Leggett & Platt (LEG) in an all-stock deal worth about $2.5 billion. Somnigroup shares rose 3%, and Leggett & Platt jumped 14%.

$LEG$SGI

Sectors116d ago

Sector Update: Financial

$GS

Sectors116d ago

Trump Vows to Attack Iranian 'Fast Attack Ships' That Approach Hormuz Blockade

President Donald Trump said Monday on Truth Social that should any of Iran's "fast attack ships" come near the United States' blockade of the Strait of Hormuz, "they will be immediately ELIMINATED."

Sectors116d ago

Trump Vows to Attack Iranian 'Fast Attack Ships' that Approach Hormuz Blockade

Sectors116d ago

Natural Gas Rises Despite Spring Weather as the Iran War Continues

Natural gas prices rose early Monday, climbing off the lowest since November 2024 despite light spring demand on a broad-based rise in global energy prices following the unsuccessful end to peace talks between the United States and Iran.Gas for May delivery was last seen up $0.05 to US$2.70 per million British thermal units.The rise comes after weekend talks between the U.S. and Iran failed to reach an agreement, as Iran rejected U.S. demands to end its uranium-enrichment program. The lack of a deal keeps the Strait of Hormuz blocked, keeping 20% of daily global LNG supply from Oman off the market, adding some spot demand for U.S. LNG producers.Still, domestic demand remains light amid spring weather. Long-term forecasts from the National Weather Service expects most states to see seasonal or warmer temperatures over its six to 14 day outlook, keeping cooling demand low.

$NGK6$UNG

Sectors116d ago

Gold Falls Again As Dollar Rises After U.S. and Iran Fail to Reach a Peace Deal

Gold prices look set to be down for a second day, falling again early Monday as the dollar rose after weekend talks between the United States and Iran failed to reach a peace deal, leaving the Strait of Hormuz blocked and continuing the largest-ever oil supply shock.Gold for May delivery was last seen down $51.90 to US$4,736.00 per ounce.Talks between the U.S. and Iran ended without an agreement to end the war that has blocked the Strait of Hormuz and cut off the 20% of global daily oil demand supplied by Persian Gulf nations. The U.S. plans to blockade Iran's ports following the collapse of the negotiations and block any ships transiting the Strait that have paid a toll to Iran, continuing to keep oil from the market.Oil prices have climbed by nearly half since the Feb. 28 start to the war, pushing up inflation in the U.S. and elsewhere, ending hopes for lower U.S. interest rates. The U.S. last week reported its Consumer Price Index surged by 3.3% annualized in March, up from 2.4% a month earlier.The dollar was higher early, with the ICE dollar index last seen up 0.25 points to 98.90. Treasury yields were little changed, with the yield on the U.S. two-year note last seen unchanged at 3.81%, while the 10-year note was paying 4.33%, down 1.0 points.

$GCK6$GLD

Sectors116d ago

Sector Update: Energy Stocks Rise Premarket Monday

Energy stocks were rising premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.6%.The United States Oil Fund (USO) was up 6.7% and The United States Natural Gas Fund (UNG) was 1.6% higher.Front-month US West Texas Intermediate crude oil was 7.3% higher at $103.59 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 6.8% to $101.68 per barrel, and natural gas futures were up 2% at $2.70 per 1 million British Thermal Units.BP's (BP) Namibia unit agreed to acquire a 60% participating interest and operatorship across three offshore exploration licenses from the business, Eco Atlantic said. Shares of BP were up 0.8% pre-bell.Baker Hughes (BKR) shares were up more than 1% after the company said it has signed a deal to sell its Waygate Technologies operations to Stockholm-based Hexagon for about $1.45 billion in cash.EQT (EQT) and KKR (KKR) are among private equity firms showing takeover interest in PolyPeptide Group, Bloomberg News reported, citing people with knowledge of the matter. EQT stock was up more than 1% premarket.

$BKR$BP$EQT$KKR$UNG$USO$XLE

Sectors116d ago

Sector Update: Financial Stocks Fall Premarket Monday

Financial stocks were falling premarket Monday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.9%.The Direxion Daily Financial Bull 3X Shares (FAS) was 2.7% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 2.7%.Goldman Sachs (GS) stock was down more than 3% even after the company reported higher Q1 earnings and net revenue.Lazard (LAZ) shares were down more than 1% after the company reported preliminary assets under management of approximately $259.2 billion as of March 31, compared with $277.7 billion the previous month.KKR (KKR) said its real estate arm plans to significantly ramp up property acquisitions in Japan, targeting a market it estimates at about 450 trillion yen ($2.8 trillion), as companies increasingly divest non-core assets, Bloomberg reported. KKR shares were 0.8% lower pre-bell.

$FAS$FAZ$GS$KKR$LAZ$XLF

Sectors116d ago

Sector Update: Health Care Stocks Mixed Pre-Bell Monday

Health care stocks were mixed pre-bell Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.5% lower and the iShares Biotechnology ETF (IBB) up 0.4%Spyre Therapeutics (SYRE) shares were up more than 29% after the company said its SPY001 investigational treatment for moderate-to-severely active ulcerative colitis met its primary and key secondary endpoints in a phase 2 trial.IDEAYA Biosciences (IDYA) stock was up more than 5% after the company said its phase 2/3 registrational trial evaluating darovasertib in combination with crizotinib in patients with metastatic uveal melanoma met its primary endpoint.Regeneron Pharmaceuticals (REGN) and Telix Pharmaceuticals (TLX) said they will jointly develop and commercialize next-generation radiopharmaceutical therapies. Telix Pharmaceuticals shares were up more than 5% premarket.

$IBB$IDYA$REGN$SYRE$TLX$XLV

Sectors116d ago

Sector Update: Consumer Stocks Lean Lower Pre-Bell Monday

Consumer stocks were leaning lower pre-bell Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) declining by 0.6%.Somnigroup International (SGI) has agreed to acquire Leggett & Platt (LEG) in an all-stock deal valued at about $2.5 billion, the companies said. Leggett & Platt stock was up more than 8% and Somnigroup International shares were down more than 1% premarket.McDonald's (MCD) plans to roll out a new lineup of cold beverages in the US, including a Red Bull Dragonberry Energizer, The Wall Street Journal reported, citing company documents and people familiar with the matter. McDonald's shares were 0.1% lower pre-bell.JBS (JBS) has struck a new two-year collective bargaining agreement with workers at its Swift Beef plant in Colorado, according to statements on Sunday from the United Food and Commercial Workers Local 7 union and the company. JBS stock was down 0.2% premarket.

$JBS$LEG$MCD$SGI$XLP$XLY

Sectors116d ago

Sector Update: Tech Stocks Decline Premarket Monday

Technology stocks were declining premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.8% lower.Sony (SONY), SoftBank, NEC and Honda Motor (HMC) have jointly established a new artificial intelligence company to develop a domestic AI foundation model for use by Japanese companies, multiple media outlets reported. Shares of Sony Group were down more than 2% pre-bell.Aeluma (ALMU) stock was up more than 25% after the company said it has won more than $4 million in contracts to scale the US government's semiconductor heterogeneous integration platform for quantum and high-speed datacom applications.Cisco Systems (CSCO) is in discussions to acquire Israeli cybersecurity startup Astrix Security for $250 million to $350 million, The Information reported, citing people with knowledge of the deal. Cisco Systems shares were 0.6% lower pre-bell.

$ALMU$CSCO$HMC$SONY$XLK$XSD

Sectors116d ago

Sector Update: Energy

Energy stocks were rising premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.6%.The United States Oil Fund (USO) was up 7% and the United States Natural Gas Fund (UNG) was 1.9% higher.Front-month US West Texas Intermediate crude oil was 7.3% higher at $103.57 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 6.9% to $101.85 per barrel, and natural gas futures were up 1.9% at $2.70 per 1 million British Thermal Units.BP's (BP) Namibia unit agreed to acquire a 60% participating interest and operatorship across three offshore exploration licenses from the business, Eco Atlantic said. Shares of BP were up 0.9% pre-bell.

$BP

Sectors116d ago

Sector Update: Financial

Financial stocks were falling premarket Monday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 1%.The Direxion Daily Financial Bull 3X Shares (FAS) was 2.9% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 2.8%.Goldman Sachs (GS) stock was down more than 4% even after the company reported higher Q1 earnings and net revenue.

$GS

Sectors116d ago

Sector Update: Health Care

Health care stocks were mixed pre-bell Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.2% lower and the iShares Biotechnology ETF (IBB) up 0.4%Spyre Therapeutics (SYRE) shares were up more than 27% after the company said its SPY001 investigational treatment for moderate-to-severely active ulcerative colitis met its primary and key secondary endpoints in a phase 2 trial.

$SYRE

Sectors116d ago

Sector Update: Consumer

Consumer stocks were leaning lower pre-bell Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) declining by 0.6%.Somnigroup International (SGI) has agreed to acquire Leggett & Platt (LEG) in an all-stock deal valued at about $2.5 billion, the companies said. Leggett & Platt stock was up more than 8% and Somnigroup International shares were down more than 1% premarket.

$LEG$SGI

Sectors116d ago

Sector Update: Tech

$HMC$SONY

Sectors116d ago

Oil Pushes Back Above US$100 As U.S. And Iran Fail To Reach Peace Deal; U.S. Promises To Blockade Iran

Oil pushed back above the US$100 per barrel mark early Monday after the United States said it will blockade Iran's ports after weekend peace talks in Pakistan ended without an agreement to end hostilities.West Texas Intermediate crude oil for May delivery was last seen up US$7.18 to US$103.75 per barrel, while June Brent oil rose US$7.00 to US$102.20.Direct and indirect talks between Iran and the United States failed to reach an agreement, with Iran refusing to agree to U.S. demands that it end its uranium-enrichment program. In response to the unsuccessful negotiations, the United States said it will blockade Iran's ports and block any ships paying Iran for passage through the Strait of Hormuz. Iran responded by threatening attacks on ports in the Persian Gulf and Sea of Oman, according to the Wall Street Journal.Failure to reach a peace deal leaves the Strait of Hormuz closed to tanker traffic, continuing to block 20% of daily oil demand supplied by Persian Gulf nations. The largest-ever supply shock likely to be magnified by the oncoming high-demand summer season."Once again, high stakes negotiations between the US and Iran deadlocked over Washington's zero uranium enrichment demand, setting the stage for further escalation in the 6-week war and prolonged supply disruptions in advance of summer driving season," Helima Croft, Head of Global Commodity Strategy and MENA Research at RBC Capital Markets, wrote."In the absence of a negotiated deal, the White House is essentially left with the option of a strategic retreat that would leave Iran with de facto control over the Strait or a military escalation aimed ateliminating the Tehran tollbooth."

$CLK6$LCOM6$USO

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