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Sector Update: Consumer

Consumer stocks were mixed Thursday 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) adding 0.3%.In corporate news, Oxford Industries (OXM) shares were down 17% after the clothing company provided a fiscal Q2 sales outlook below analyst estimates, while its results declined year over year in the prior three-month period.

$OXM

Sectors12d ago

US Natural Gas Stocks Posts Larger Increase Than Expected in Week Ended June 5

US natural gas stocks rose by 108 billion cubic feet in the week ended June 5, a larger gain than the 100 billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 95 billion cubic feet in the previous week.Stocks at 2.686 trillion cubic feet were 0.2% lower than in the comparable week a year ago but 6.0% above their 5-year average.

Sectors12d ago

US Natural Gas Stocks Rise by 108 Bln Cubic Feet in Week Ended June 5 Vs. Expected 100 Bln Increase; Prior Gain of 95 Bln

Sectors12d ago

Natural Gas Falls Ahead of Storage Data on Mild Long-Term Forecasts

Natural gas prices fall early on Thursday ahead of fresh storage data as long-term forecasts expect mild weather for most states.Gas for July delivery was last seen down US$0.05 to US$3.13 per million British thermal units.The drop comes as the National Weather Service's six to 10 day forecast expects nearly all states east of the Rocky Mountains to see seasonal or cooler temperatures over period, keeping cooling demand light.The Energy Information Administration will release its weekly look at inventories of the fuel later on Thursday morning, with another sizable rise in stocks expected."For today's EIA weekly storage report, survey averages are tightly clustered at +99-101 Bcf, slightly larger than the 5-year average of +95 Bcf. For the sample week, it was hotter than normal across much of the western and central US, while cooler than normal across the East. We expect a fat build of +103 Bcf, aided by strong solar generation," NatGasWeather wrote.

$NGN6$UNG

Sectors12d ago

Gold Trading at a Seven-Month Low on a Higher Dollar After U.S. Wholesale Prices Rose More Than Expected in May

Gold fell to a seven-month low early on Thursday, dropping for a fifth-straight session as U.S. wholesale price inflation rose more than expected last month, boosting the dollar.Gold for July delivery was last seen down US$48.30 to US$4,085.00, the lowest since Nov.18.The U.S. Bureau of Labor Statistics on Thursday reported the Producer Price Index (PPI) rose by 1.1% in May, down from 1.4% annualized in April but ahead of expectations for a rise of 0.7%, according to MarketWatch. Core PPI, excluding volatile foods, energy, and trade services, rose 0.8% monthly, down form 1% in April but again ahead of expectations for a rise of 0.5%.The report follows the Wednesday release of the U.S. Consumer Price Index that rose at a 4.2% annualized rate in May, up from 3.8% a month earlier. The rise in oil prices that has followed the U.S. war on Iran keeps inflation hot and pushes traders to the dollar as a hedge against the threat central banks will need to hike interest rates to slow rising prices.Gold's "decline gathered further pace on Wednesday following the strong US inflation print and renewed gains in oil prices after fresh attacks in the Middle East", Saxo Bank noted.The dollar rose following the PPI report, with the ICE dollar index last seen up 0.11 points to 100.05. Treasury yields were lower, with the US. two-year note last seen paying 4.15%, down 0.8 basis points, while the yield on the 10-year note was down 2.6 points to 4.533%.

$GCN6$GLD

Sectors12d ago

Sector Update: Energy Stocks Mostly Higher Pre-Bell Thursday

Energy stocks were mostly higher premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) gaining 0.6%.The United States Oil Fund (USO) was up 0.1%, while the United States Natural Gas Fund (UNG) was 1.5% lower.Front-month US West Texas Intermediate crude oil was up 0.5% to $90.46 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.2% to $93.26 per barrel, and natural gas futures were 1.7% lower at $3.13 per 1 million British Thermal Units.BP (BP) stock was up more than 2% before market open a day after the company said its Whiting refinery team held a 63rd formal bargaining meeting with the United Steelworkers Local 7-1 committee to discuss a new labor contract.Energy Fuels (UUUU) shares rose 3.2% after the company said it expects finished uranium production at its White Mesa Mill to reach approximately 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.Expro (XPRO) shares gained 1.3% pre-bell after the company said it signed a two-year contract with a major operator in the United Arab Emirates to provide testing and flowback services for unconventional wells.

$BP$UNG$USO$UUUU$XLE$XPRO

Sectors12d ago

Sector Update: Financial Stocks Mostly Higher Pre-Bell Thursday

Financial stocks were mostly higher pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.6%.The Direxion Daily Financial Bull 3X Shares (FAS) rose by 1.7%, and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.9% lower.WisdomTree (WT) shares were down more than 5% pre-bell, continuing from a 1.9% fall in the previous session. The company reported higher assets under management and net inflows for May.Robinhood Markets (HOOD) shares rose more than 1% after Needham lifted its price target on the company to $97 from $85.Hartford Insurance Group (HIG) stock gained 1.7% before the opening bell. Piper Sandler cut its price target on the company to $148 From $154, but maintains its overweight rating.

$FAS$FAZ$HIG$HOOD$WT$XLF

Sectors12d ago

Oil Trading Higher as Fresh Fighting in the War on Iran Threatens to Prolong the Energy Supply Shock

Oil prices rose early on Thursday as the United States launched a new round of attacks on Iran, ending a ceasefire between the two and keeping the Strait of Hormuz blocked for most shipping.West Texas Intermediate crude oil for July delivery was last seen up US$0.75 to US$90.78 per barrel, while July Brent oil was up US$0.41 to US$93.51.U.S. President Trump on Wednesday ordered fresh strikes on Iranian targets amid frustration Iran is stalling negotiations to end the war that has produced the largest ever energy supply shock. Iran responded by launching attacks on Kuwait, Jordan and Bahrain. Iran also said it will completely close the Strait of Hormuz, keeping oil exports from the Persian Gulf nations that supplied a fifth of daily oil demand mostly off the market.The Wall Street Journal reported the fighting came as Trump said Iran is "playing us for suckers" as he looks to force the country to resume negotiations over its nuclear stockpiles. U.S. forces had been accompanying tankers through the Strait, with Bloomberg reporting ships carrying more than 100-million barrels of oil have passed through the waterway since it began protecting shipping in the region, though renewed fighting may heighten the risk to shipping."US forces struck targets in Iran for a second consecutive day. Renewed hostilities threaten to prolong the near-total closure of the Strait of Hormuz, which has severely disrupted flows of crude oil, refined fuels, and natural gas since the conflict escalated in late February," Saxo Bank noted.The lack of supply is cutting into oil inventories, with the Energy Information Administration on Wednesday reporting U.S. commercial oil inventories fell by 7.2-milllion barrels last week, well above the consensus estimate for a 4.0-million barrel drop among analysts polled by Reuters.

$CLN6$LCOQ6$USO

Sectors12d ago

Sector Update: Healthcare Stocks Higher Pre-Bell Thursday

Healthcare stocks were higher premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) gaining 0.3% and the iShares Biotechnology ETF (IBB) advancing 0.1%.Novartis (NVS) stock was up more than 2% premarket after the company said a phase 1/2 study of its experimental therapy, del-brax, met both primary and key secondary endpoints in patients with facioscapulohumeral muscular dystrophy.Guardant Health (GH) shares gained more than 1% pre-bell after the company said the US Food and Drug Administration has approved Guardant360 CDx for Boehringer Ingelheim's Hernexeos in adults with HER2-mutant advanced non-small cell lung cancer.Tilray Brands (TLRY) stock advanced 0.6% after its BrewDog unit said it is reducing pint prices to 2 UK pounds ($2.67), or about 1998 levels, at its Scottish bars for an upcoming 72-hour bank holiday weekend.

$GH$IBB$NVS$TLRY$XLV

Sectors12d ago

Sector Update: Consumer Stocks Mixed Pre-Bell Thursday

Consumer stocks were mixed premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) retreating 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gaining 0.8%.Tesla (TSLA) shares were up more than 1% pre-bell after Annick De Ridder, the Flemish Minister of Mobility, Public Works, Ports, and Sport, said in an X post that the EV maker's full self-driving technology has been approved in Belgium.Alibaba (BABA) shares fell more than 4% after Bloomberg reported that the company has replaced the head of its AI-chat app, Dingtalk, in a leadership change after an insider debate regarding the productivity platform's role in the broader AI strategy of the e-commerce colossus.McGraw Hill (MH) stock declined more than 6% premarket after the company reported lower fiscal Q4 revenue.

$BABA$MH$TSLA$XLP$XLY

Sectors12d ago

Trump Says US to Attack Iran Tonight, Will Soon Take Kharg Island

President Donald Trump said Thursday on Truth Social that the US will hit Iran with an attack "VERY HARD TONIGHT," and that it will take control of Kharg Island sometime in the "not too distant future."

Sectors12d ago

Sector Update: Tech Stocks Higher Pre-Bell Thursday

Technology stocks were higher pre-bell Thursday, with the State Street Technology Select Sector SPDR ETF (XLK) advancing by 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) 2.4% higher.Shares of Oracle (ORCL) fell over 9% in premarket activity as the cloud computing company announced plans to raise an additional $20 billion in equity and debt for its capital expenditures in fiscal 2027.Coupang (CPNG) shares were up more than 7% before market open. Bloomberg reported that Coupang's South Korean entity was hit with a record 624.7 billion won ($409 million) fine for a major data breach and associated privacy violations that impacted nearly 34 million accounts.SAP (SAP) stock retreated more than 2% pre-bell after Goldman Sachs cut its price target on the company.

$CPNG$ORCL$SAP$XLK$XSD

Sectors12d ago

Trump Says US to Attack Iran Tonight, Will Soon Take Kharg Island

Sectors12d ago

Sector Update: Financial

Financial stocks were mostly higher pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.7%.The Direxion Daily Financial Bull 3X Shares (FAS) rose by 0.9%, and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.1% lower.WisdomTree (WT) shares were down more than 5% pre-bell, continuing from a 1.9% fall in the previous session. The company reported higher assets under management and net inflows for May.

$FAS$FAZ$WT$XLF

Sectors12d ago

Sector Update: Energy

Energy stocks were up premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) gaining 0.4%.The United States Oil Fund (USO) was down 1.4%, while the United States Natural Gas Fund (UNG) was 1.1% lower.Front-month US West Texas Intermediate crude oil was down 1.3% to $88.86 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 1.4% to $91.81 per barrel, and natural gas futures were 2% lower at $3.12 per 1 million British Thermal Units.BP (BP) stock was up more than 1% before market open a day after the company said its Whiting refinery team held a 63rd formal bargaining meeting with the United Steelworkers Local 7-1 committee to discuss a new labor contract.

$BP$UNG$USO$XLE

Sectors12d ago

Sector Update: Healthcare

$IBB$NVS$XLV

Sectors12d ago

Sector Update: Consumer

$TSLA$XLP$XLY

Sectors12d ago

Sector Update: Tech

$ORCL$XLK$XSD

Sectors12d ago

Crude Oil Prices May Hit US$150/Barrel if U.S.-Iran Hostilities Resume in Earnest, Says Rystad Energy

Rystad Energy expects crude oil prices to move toward US$150/barrel if hostilities between the U.S. and Iran were to resume in earnest, according to a Wednesday note.The latest escalation has brought the ceasefire to its most difficult moment so far, Rystad said. The uncertainty has been injecting volatility into oil price moves"At this stage, it is too early to say whether the current escalation marks a full resumption of hostilities or a dangerous but still containable episode," said Jorge Leon, senior vice president and head of geopolitical analysis at Rystad.However, price rises could also be blunted by record Strategic Petroleum Reserve releases that has resulted in record U.S. exports, lower crude imports by China, and crude bypassing the Strait of Hormuz via Saudi Arabia's Yanbu port, Leon noted."Oil price volatility is likely to remain elevated until there is clearer evidence that the ceasefire can hold or that diplomatic channels are regaining traction," Leon said.

$CLX1$LCOX1$USO

Sectors12d ago

Crude Oil Prices Hold Steady as Traders Assess Supply Impacts of U.S.-Iran War Escalation

Crude oil prices were little changed on Thursday as traders assessed the supply impacts of recent renewed exchange of hostilities between the U.S. and Iran.Brent crude at last look lost 0.7% to US$92.45/barrel and West Texas Intermediate crude was down 0.5% to $89.57/barrel. This comes as efforts to reach a preliminary deal between the two countries intensify despite strikes from both sides, Reuters said in a Thursday report, citing three Iranian sources.Tehran declared the Strait of Hormuz closed after the U.S. launched strikes against Iran, the report said. Weaker Chinese fuel demand, however, is capping price increases amid falling gasoline and diesel use, as well as lower crude imports."The latest escalation adds uncertainty to already fragile ceasefire negotiations and risks prolonged supply disruptions that have constrained global crude, fuel, and LNG exports since the conflict began," Reuters quoted MUFG analyst Soojin Kim as saying.

$CLX1$LCOX1$USO

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Sectors12d ago

Oil Trading Higher as Fresh Fighting in the War on Iran Threatens to Prolong the Energy Supply Shock

$CLN6$LCOQ6$USO