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Natural Gas Falls as Rising Production Offsets Warming Forecasts

Natural gas traded lower early Tuesday despite warm forecasts as production continues to rise. Gas for June delivery was last seen down $0.04 to US$2.87 per million British thermal units.Long-term forecasts from the National Weather Service expect nearly all states to see warmer than seasonal temperatures over its six to 14 day outlook, offering some cooling demand amid the spring shoulder season.However production continues to rise, boosting inventories of the fuel and limiting prices."U.S. production continues to trend higher, supported by solid shale output and rising associated gas volumes from oil directed drilling, particularly in the Permian Basin....Combined with relatively mild winter weather, this has left inventories in a comfortable position," TD Economics wrote.

$NGM6$UNG

Sectors135d ago

Sector Update: Energy Stocks Rise Premarket Tuesday

Energy stocks were rising premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) up 1.1%.The United States Oil Fund (USO) was up 3% and The United States Natural Gas Fund (UNG) was 2% lower.Front-month US West Texas Intermediate crude oil was 3.2% higher at $101.25 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 3.2% to $107.49 per barrel, and natural gas futures were down 1.7% at $2.86 per 1 million British Thermal Units.Venture Global (VG) shares were up more than 7% after the company reported higher Q1 earnings and revenue.Petrobras (PBR) stock was down more than 1% even after the company posted higher Q1 net income and sales revenue.Shell (SHEL) plans to divest its gas station network in France, according to a Google translation of a Monday report from French newspaper Les Echos. Shell shares were up 0.2% premarket.

$PBR$SHEL$UNG$USO$VG$XLE

Sectors135d ago

Sector Update: Financial Stocks Edge Higher Pre-Bell Tuesday

Financial stocks were edging higher pre-bell Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.7% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.3%.EToro (ETOR) stock was up 0.4% after the company reported an increase in Q1 adjusted earnings.CME Group (CME) said it is partnering with Silicon Data to launch a compute futures market later this year, pending regulatory review. Shares of CME Group were 0.8% higher premarket.Goldman Sachs' (GS) private equity business within Goldman Sachs Alternatives acquired FGI Worldwide, the company said. Goldman Sachs stock was down 0.2% pre-bell.

$CME$ETOR$FAS$FAZ$GS$XLF

Sectors135d ago

Gold Trading Lower as USD and Yields Rise as U.S. Inflation Surged Last Month

Gold moved lower early Tuesday, dropping for a second day as the dollar and yields rose after the United States reported inflation continued to surge last month on higher energy prices that followed the war on Iran. Gold for June delivery was last seen down $28.80 to US$4,700.50 per ounce.The U.S. Bureau of Labor Statistics reported the April Consumer Price Index (CPI) rose at a 3.8% annualized pace, up from 3.3% in March, but matching expectations according to Marketwatch.Core CPI, excluding food and energy costs, rose 2.8%, up from 2.6% a month earlier, and above consensus estimates for a 2.7% rise.The rise comes as the Strait of Hormuz has been blocked since Feb. 28, when the United States and Israel launched the war on Iran, keeping 20% of daily oil demand supplied by Persian Gulf nations from the market, creating the largest-ever energy supply shock and raising oil prices by nearly half.Rising energy costs have raised concerns central banks will raise interest rates to slow inflation, sending investors to bonds and the dollar and keeping gold rangebound."Gold's rally has paused as higher real rates cap upside, but ongoing geopolitical risks and solid central-bank demand should provide downside support," TD Economics wrote.The dollar rose following the CPI report, with the ICE dollar index last seen up 0.29 points to 98.25. Treasury yields also rose, with the yield on the U.S. two-year note up 2.5 basis points to 3.994%, while the 10-year note was paying 4.446%, up 3.3 points.

$GCM6$GLD

Sectors135d ago

Sector Update: Healthcare Stocks Advance Premarket Tuesday

Healthcare stocks were advancing premarket Tuesday, with the State Street Health Care Select Sector SPDR ETF (XLV) up 0.3% and the iShares Biotechnology ETF (IBB) 0.6% higher.Sionna Therapeutics (SION) shares were down more than 5% after the company reported a wider-than-expected Q1 net loss.Alkermes (ALKS) said a late-stage trial evaluating its investigational Lumryz oral suspension in adults with idiopathic hypersomnia, a rare condition in which patients require excessive sleep, met all primary and key secondary endpoints. Alkermes stock was up more than 2% pre-bell.BridgeBio Pharma (BBIO) shares were up more than 1% after the company said it has submitted a new drug application to the US Food and Drug Administration for encaleret, a potential treatment for autosomal dominant hypocalcemia type 1 (ADH1), a rare genetic condition affecting calcium levels.

$ALKS$BBIO$IBB$SION$XLV

Sectors135d ago

Sector Update: Consumer Stocks Mixed Premarket Tuesday

Consumer stocks were mixed premarket Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.2% lower.Sea (SE) shares were up more than 12% after the company reported higher Q1 earnings and revenue.Alliance Laundry (ALH) stock was up more than 3% after the company posted higher Q1 adjusted earnings and net revenue.Victoria's Secret (VSCO) is stepping up its proxy contest against shareholder Brett Blundy and his private equity firm BBRC International, detailing engagement with the parties ahead of an annual meeting in June, according to a filing. Victoria's Secret shares were up more than 1% pre-bell.

$ALH$SE$VSCO$XLP$XLY

Sectors135d ago

Sector Update: Tech Stocks Decline Pre-Bell Tuesday

Technology stocks were declining pre-bell Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) down 1.1% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.8% lower.Zebra Technologies (ZBRA) shares were up more than 12% after the company reported higher fiscal Q1 non-GAAP earnings and net sales, and issued fiscal Q2 and 2026 non-GAAP EPS outlook above analysts' estimates.D-Wave Quantum (QBTS) stock was down more than 3% after the company posted a wider Q1 net loss as revenue fell during the period.Ralliant (RAL) shares were up more than 12% after the company raised its 2026 outlook and issued Q2 guidance above analysts' expectations.

$QBTS$RAL$XLK$XSD$ZBRA

Sectors135d ago

Sector Update: Energy

Energy stocks were rising premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) up 1.1%.The United States Oil Fund (USO) was up 3.1% and the United States Natural Gas Fund (UNG) was 1.7% lower.Front-month US West Texas Intermediate crude oil was 2.8% higher at $100.86 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.9% to $107.25 per barrel, and natural gas futures were down 1.1% at $2.88 per 1 million British Thermal Units.Venture Global (VG) shares were up more than 7% after the company reported higher Q1 earnings and revenue.

$VG

Sectors135d ago

Sector Update: Healthcare

Healthcare stocks were up premarket Tuesday, with the State Street Health Care Select Sector SPDR ETF (XLV) up 0.3% and the iShares Biotechnology ETF (IBB) 0.6% higher.Sionna Therapeutics (SION) shares were down 5% after the company reported a wider-than-expected Q1 net loss.

$SION

Sectors135d ago

Sector Update: Financial

Financial stocks were edging higher pre-bell Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.1% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.4%.eToro (ETOR) stock was up more than 1% after the company reported an increase in Q1 adjusted earnings.

$ETOR

Sectors135d ago

Sector Update: Consumer

Consumer stocks were mixed premarket Tuesday, 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) 0.3% lower.Sea (SE) shares were up more than 10% after the company reported higher Q1 earnings and revenue.

$SE

Sectors135d ago

Sector Update: Tech

$ZBRA

Sectors135d ago

Oil Rises Again as the Shaky U.S.-Iran Ceasefire Continues to Block Persian Gulf Supply

Oil prices rose for a third session early on Tuesday as a faltering ceasefire between the United States and Iran keeps the Strait of Hormuz closed, continuing the largest-ever energy supply shock.West Texas Intermediate crude oil for June delivery was last seen up US$3.23 to US$101.30 per barrel, while July Brent oil was up US$3.32 to US$107.53.The rise comes as a shaky ceasefire in the war on Iran threatens to end, with U.S. President Trump on Monday saying it was on "massive life support" after Iran rejected a U.S. peace plan and Trump rejected Iran's response.The lack of a deal continues Iran's blockade of the Strait of Hormuz, blocking exports from Persian Gulf nations that accounted for 20% of daily oil demand. Oil prices have climbed by nearly half since the Feb. 28 start to the war, with stalemate between the warring nations offering no quick relief to countries searching for alternative supply."Oil prices climbed ... as the global oil market continued to tighten amid limited prospects for a reopening of the Strait of Hormuz. The move followed Trump casting doubt over a ceasefire with Israel signalling the war is not over," Saxo Bank wrote.Trump will travel to Beijing tomorrow for a summit meeting with Xi Jinping, his Chinese counterpart, a major buyer of Iranian oil and an ally of the country. However the Wall Street Journal reported Xi is unlikely to press Trump to end the war.

$CLM6$LCON6$USO

Sectors135d ago

Scotiabank Notes Markets Highlight Increase in Inflation Risk

Oil prices continue to rally and are back up to where they were last Wednesday before sliding in false anticipation of a United States-Iran deal, said Scotiabank.WTI and Brent are up by about US$3 to US$4/barrel early Tuesday, with Brent at almost US$108, noted the bank. Higher oil prices on Monday and Tuesday follow President Donald Trump's "ineloquent" dismissal of Iran's counteroffer as "a piece of garbage," while saying the ceasefire is "unbelievably weak" and on "massive life support."Bond yields are accordingly higher on a perceived increase in inflation risk, stated Scotiabank. United Kingdom's Gilts are underperforming with borderline double-digit basis point increases at the longer-end, while all other major markets are cheaper by single-digit moves, led by Europe.Gilts have inflation worries and political instability on the mind as Prime Minister Keir Starmer digs in against a rebellious cabinet that is stoking fear that a freer-spending leader could step in, added the bank.Stocks are broadly lower by up to 1% in Germany, it pointed out.The US dollar (USD) is generally firmer against major crosses, but with oil-driven currencies like Norway's krone (NOK) and Canadian dollar (CAD or loonie) outperforming others.Iran has countered with a take-it-or-leave-it posture and noted it was "ready to respond and to teach a lesson for any aggression."And so, with that as the backdrop, it only seems appropriate to talk inflation, according to Scotiabank.

$CAD$CXY$NOK$USD

Sectors135d ago

NY Crude Up 3.1% at US$101.10 and Brent Crude Up 2.9% at Near US$107.25

$CLM6$LCON6$USO

Sectors135d ago

Brent Crude Up 2.8% at Near US$107.20

$CLM6$LCON6$USO

Sectors135d ago

Crude Oil Prices Climb as Supply Concerns Escalate Amid Lack of Peace Deal

Crude oil prices saw gains on Tuesday amid dissipating hopes that an agreement between the U.S. and Iran to end the war will be reached.Brent crude at last look rose 2.9% to US$107.21/barrel and West Texas Intermediate crude climbed 3.3% to $101.32/barrel. Disagreements persist between the two countries over demands that include the cessation of hostilities, the removal of the U.S. naval blockade, the resumption of Iranian oil sales and compensation for war damage, Reuters said in a Tuesday report."Optimism regarding an imminent (peace) deal seems to be fading again and if we don't see a deal by the end of May, then upside risks for oil prices are definitely on the table," Reuters quoted DBS Bank energy sector team lead Suvro Sarkar as saying.The continued near-closure of the Strait of Hormuz has led to curtailed exports, with a Reuters survey showing that output from the Organization of the Petroleum Exporting Countries fell to its lowest level in over two decades in April, the report said.

$CLX1$LCOX1$USO

Sectors135d ago

Sector Update: Energy Stocks Gain Late Afternoon

Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each rising 2.4%.The Philadelphia Oil Service Sector Index was adding 1.8%, and the Dow Jones US Utilities Index rose 1%.Front-month West Texas Intermediate crude oil rose 2.6% to $97.93 a barrel, and the global benchmark Brent crude contract was advancing 2.8% to $104.16 a barrel. Henry Hub natural gas futures gained 6% to $2.92 per 1 million BTU.In corporate news, Enbridge (ENB) is well-positioned to benefit from global energy security trends and rising demand for energy infrastructure, which are creating expanded opportunities across its businesses, RBC Capital Markets said in a note. Enbridge shares rose 1.7%.BP (BP) has a "second chance" to deleverage and restore financial health, supported by higher commodity prices that could put it on firmer footing in coming years, RBC Capital Markets said in a note. RBC upgraded BP to outperform from sector perform, while maintaining its 700 pence ($9.52) price target. BP shares rose 2.1%.Halliburton (HAL) and Blackstone (BX) will invest a combined $1 billion into energy startup VoltaGrid in a deal that values the firm at over $10 billion, Bloomberg reported. Halliburton shares added 1%.National Energy Services Reunited (NESR) shares jumped past 9% after it reported higher Q1 adjusted earnings and revenue.

$BP$ENB$HAL$NESR

Sectors135d ago

Sector Update: Financial Stocks Fall Monday

Financial stocks fell Monday with the NYSE Financial Index declining 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) easing 0.1%.The Philadelphia Housing Index shed 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.4%.Bitcoin (BTC-USD) added 0.7% to $81,990, and the yield for 10-year US Treasuries rose 4.6 basis points to 4.41%.In economic news, the pace of US existing home sales increased 0.2% to a 4.02 million seasonally adjusted annual rate in April from 4.01 million in March, below the expectations for a 4.05 million rate in a survey compiled by Bloomberg, data from the National Association of Realtors showed.In corporate news, Brookfield Asset Management (BAM) plans to invest $500 million in OpenAI Deployment Co. Brookfield shares fell 1.7%.Blackstone's (BX) real estate debt arm, Blackstone Real Estate Debt Strategies, launched a lending platform to provide capital and flexibility to US homebuilders, aiming to support construction of over 50,000 for-sale homes annually. Blackstone shares declined 1.9%.Apollo Global Management (APO) said its managed funds agreed to buy Emerald Holding (EEX) and Questex to form a combined business events platform. Separately, Apollo is in discussions with potential buyers to sell its MidCap Financial Investment (MFIC) business development company, the Wall Street Journal reported. Apollo values the business at about $3 billion, the report said. Apollo shares fell 2.1%, and MidCap Financial Investment dropped 5.2%.

$APO$BAM$BX$MFIC

Sectors135d ago

Sector Update: Healthcare Stocks Softer Late Afternoon

Healthcare stocks were lower late Monday afternoon, with the NYSE Healthcare Index down 0.3% and the State Street Healthcare Select Sector SPDR ETF (XLV) declining 0.4%.The iShares Biotechnology ETF (IBB) was little changed.In corporate news, Zoetis (ZTS) shares fell 7.5% after BNP Paribas cut its price target to $146 from $185, following the company's Q1 results late last week.Moderna (MRNA) has been working on early-stage vaccines targeting hantaviruses, Bloomberg reported Friday, citing a company statement. The research began before recent infections were reported aboard the Dutch-flagged Hondius, the report said. Moderna shares fell 3.7%.Sonida Senior Living (SNDA) shares fell 3.3% after the company reported Q1 loss of $2.39 per diluted share, widening from the loss of $0.77 a year earlier. Analysts polled by FactSet expected a loss of $1.53.Erasca (ERAS) entered into a clinical trial collaboration and supply agreement with Merck (MRK) to study its investigational drug ERAS-0015 in combination with Keytruda in patients with RAS-mutant solid tumors. Erasca shares rose 3%.

$ERAS$MRNA$SNDA$ZTS

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