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Sector Update: Tech Stocks Gain Friday Afternoon

Tech stocks were higher Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.1% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 4.7%.The Philadelphia Semiconductor index gained 5.1%.In corporate news, Apple (AAPL) and Intel (INTC) have reached a preliminary agreement under which Intel will make some of the chips powering Apple devices, The Wall Street Journal reported Friday. Apple shares rose 1.8%, and Intel jumped past 15%.Akamai Technologies (AKAM) shares surged 20% after the company reported Q1 results and Chief Executive Tom Leighton said a US-based frontier model provider has committed $1.8 billion over seven years for the company's cloud infrastructure services.Hedge fund TCI cut its stake in Microsoft (MSFT) to 1% of its portfolio at the end of March from 10% at the end of last year, the Financial Times reported. Microsoft shares shed 1.1%.

$AAPL$AKAM$INTC$MSFT

Sectors138d ago

Sector Update: Energy

Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index decreasing 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) down 0.1%.The Philadelphia Oil Service Sector Index was climbing 1.6%, and the Dow Jones US Utilities Index shed 0.4%.In sector news, US forces disabled two Iranian-flagged unladen oil tankers on Friday attempting to dock at an Iranian port on the Gulf of Oman in violation of the US blockade, US Central Command said on X.Front-month West Texas Intermediate crude oil was rising 1.1% to $95.81 a barrel, and the global benchmark Brent crude contract was advancing 1.3% to $101.32 a barrel. Henry Hub natural gas futures shed 0.4% to $2.76 per 1 million BTU.In corporate news, Shell (SHEL) CEO Wael Sawan said the global oil market faces a shortage of nearly 1 billion barrels of crude due to the ongoing Iran conflict, warning that the supply deficit is "deepening every single day." Speaking during Shell's Q1 earnings call on Thursday, Sawan said the market has lost significant volumes either through "locked-in barrels or unproduced barrels," adding that the recovery process would take time. Shell shares were down 0.3%.

$SHEL

Sectors138d ago

Sector Update: Financial

Financial stocks were lower Friday afternoon, with the NYSE Financial Index decreasing 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.6%.The Philadelphia Housing Index rose 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.5%.Bitcoin (BTC-USD) eased 0.1% at $79,953, and the yield for 10-year US Treasuries was shedding 2.6 basis points to nearly 4.37%.In corporate news, Block (XYZ) shares jumped past 8% after the company late Thursday reported higher adjusted earnings and revenue that also beat analysts' estimates.

$XYZ

Sectors138d ago

Sector Update: Healthcare

Healthcare stocks declined Friday afternoon, with the NYSE Healthcare Index falling 1% and the State Street Healthcare Select Sector SPDR ETF (XLV) shedding 0.9%.The iShares Biotechnology ETF (IBB) was 0.4% higher.In corporate news, Zoetis (ZTS) shares fell 6% after Ameriprise downgraded the stock to hold from buy following its Q1 results Thursday. UBS cut its price target to $99 from $130, and Jefferies to $117 from $155.

$ZTS

Sectors138d ago

Sector Update: Tech

$AKAM

Sectors138d ago

Sector Update: Consumer

Consumer stocks were higher Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.8% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.6%.In corporate news, Wendy's (WEN) reiterated its full-year outlook on Friday as the fast food chain's fiscal Q1 revenue unexpectedly increased year over year. Its shares climbed 2.1%.

$WEN

Sectors138d ago

US Forces Disable 2 Iranian-Flagged Oil Tankers, Centcom Says

Sectors138d ago

Sector Update: Energy Stocks Lean Lower Premarket Friday

Energy stocks were leaning lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.1%.The United States Oil Fund (USO) was down 1.2% and The United States Natural Gas Fund (UNG) was 1.8% higher.Front-month US West Texas Intermediate crude oil was 0.1% higher at $94.90 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.4% to $100.45 per barrel, and natural gas futures were up 1.1% at $2.80 per 1 million British Thermal Units.Enbridge (ENB) shares were up 0.4% after the company posted Q1 adjusted earnings and revenue that exceeded analysts' estimates.Devon Energy (DVN) stock was up more than 1% after the company launched a new share repurchase authorization of $8 billion and raised its fixed dividend to $0.320 per share, payable June 30 to shareholders of record as of June 15.Plains GP (PAGP) shares were down more than 2% after the company reported a decline in Q1 net income.

$DVN$ENB$PAGP$UNG$USO$XLE

Sectors138d ago

Sector Update: Financial Stocks Rise Pre-Bell Friday

Financial stocks were rising pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.5% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.7%.Essent Group (ESNT) shares were up 1% after the company reported higher Q1 earnings and revenue.Burford Capital (BUR) stock was down more than 6% after the company reported that it swung to a Q1 loss.Brookfield Asset Management (BAM) shares were up 0.7% after the company posted higher Q1 distributable earnings and total revenue.

$BAM$BUR$ESNT$FAS$FAZ$XLF

Sectors138d ago

Sector Update: Healthcare Stocks Steady Pre-Bell Friday

Healthcare stocks were steady pre-bell Friday, with the iShares Biotechnology ETF (IBB) inactive and the State Street Health Care Select Sector SPDR ETF (XLV) down a slight 0.1%.Grifols (GRFS) stock was up more than 2% after the company posted a higher Q1 adjusted profit.ANI Pharmaceuticals (ANIP) shares were up more than 4% after the company reported higher Q1 adjusted earnings and net revenue, and raised its 2026 outlook.Artiva Biotherapeutics (ARTV) stock was up more than 3% after the company priced its $300 million underwritten offering of common shares and pre-funded warrants.

$ANIP$ARTV$GRFS$IBB$XLV

Sectors138d ago

Sector Update: Consumer Stocks Advance Premarket Friday

Consumer stocks were advancing premarket Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.4% higher.Interface (TILE) shares were up nearly 11% after the company posted higher fiscal Q1 adjusted earnings and net sales, and raised its fiscal 2026 outlook.Wendy's (WEN) stock was up more than 4% after the company reported Q1 adjusted earnings and revenue that topped analysts' expectations, with revenue increasing year over year.Zara has denied infringing Estee Lauder's (EL) Jo Malone trademark in an infringement case, Reuters reported, citing a court filing. Estee Lauder shares were 0.8% higher pre-bell.

$EL$TILE$WEN$XLP$XLY

Sectors138d ago

Sector Update: Tech Stocks Rise Premarket Friday

Technology stocks were rising premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) 1.2% higher and the State Street SPDR S&P Semiconductor ETF (XSD) up 2.1%.Sony Group (SONY) stock was up more than 2% after the company posted higher fiscal Q4 sales.Cloudflare (NET) shares were down more than 15% after the company said it expects to reduce its workforce by about 1,100 people as part of a planned restructuring.Iren (IREN) secured a five-year AI infrastructure cloud services contract with Nvidia (NVDA) worth $3.4 billion, the company said. Iren shares were up more than 15% premarket.

$IREN$NET$SONY$XLK$XSD

Sectors138d ago

Sector Update: Energy

Energy stocks were leaning lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) marginally declining.The United States Oil Fund (USO) was down 1.1% and the United States Natural Gas Fund (UNG) was 0.4% higher.Front-month US West Texas Intermediate crude oil was 0.1% higher at $94.90 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.1% to $100.16 per barrel, and natural gas futures were up 0.8% at $2.79 per 1 million British Thermal Units.Enbridge (ENB) shares were slightly down after the company posted a decline in Q1 adjusted earnings.

$ENB

Sectors138d ago

Sector Update: Financial

$ESNT

Sectors138d ago

Sector Update: Health Care

Health care stocks were steady pre-bell Friday, with the iShares Biotechnology ETF (IBB) inactive and the State Street Health Care Select Sector SPDR ETF (XLV) up a slight 0.1%.Grifols (GRFS) stock was up more than 2% after the company posted a higher Q1 adjusted profit.

$GRFS

Sectors138d ago

Sector Update: Consumer

Consumer stocks were advancing premarket Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.5% higher.Interface (TILE) shares were up more than 10% after the company posted higher fiscal Q1 adjusted earnings and net sales, and raised its fiscal 2026 outlook.

$TILE

Sectors138d ago

Sector Update: Tech

Technology stocks were higher premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) gaining 1.2% and the State Street SPDR S&P Semiconductor ETF (XSD) up 2.1%.Sony Group (SONY) stock was up more than 2% after the company posted higher fiscal Q4 sales.

$SONY

Sectors139d ago

Global Markets Mixed Ahead of U.S., Canadian Jobs Data as Tariff, Middle East Risks Swirl, Says Scotiabank

Global markets are "highly mixed" into the end of the week amid swirling developments on United States tariffs after a court voted against the introduction of 10% global tariffs, the conflict in the Middle East and ahead of dual jobs reports out of the U.S. and Canada, said Scotiabank.Oil is little changed after reversing early Thursday's dip because of signs that U.S.-Iran negotiations aren't going well, noted the bank. U.S. and Canadian equity futures are a little higher, but European cash markets are down by up to about 1%.The US dollar (USD) is generally softer but not by much, pointed out Scotiabank. Sovereign bond yields are mixed, with Gilts outperforming.Mexican markets will follow U.S. payrolls (NFP) and oil market developments after Banxico delivered the universally expected 25bps cut with a narrow 3-2 vote and signaled the end of the easing cycle late Thursday, added the bank.All of that could change "very shortly" as the NFP and Canada's Labour Force Survey (LFS) will be published at 8:30 a.m. ET and perhaps "multiple times" over Friday's market session, stated Scotiabank.

$CXY$USD

Sectors139d ago

Brent Crude Up 0.55% at US$110.60 and NY Crude Up 0.3% at US$95.10

$CLM6$LCON6$USO

Sectors139d ago

Crude Oil Prices Mostly Hold Onto Gains Amid Renewed Hostilities in Middle East

Crude oil prices stabilized after seeing gains due to renewed hostilities between the U.S. and Iran, sparking concerns about the ongoing ceasefire.Brent crude at last look was at US$99.89/barrel and West Texas Intermediate crude was at $94.34/barrel. This comes after the U.S. and Iran were reportedly nearing a peace deal to end the war, Reuters said in a Friday report."Price formation is no longer anchored in a pragmatic reading of the war's trajectory or the physical realities in the Strait of Hormuz," Reuters quoted Vandana Hari, founder of oil market analysis provider Vanda Insights, as saying.U.S. President Donald Trump said the ceasefire was still in effect despite the restart of fighting, according to the report."On the supply front, the picture remains tight," IG analyst Tony Sycamore was quoted as saying.

$CLX1$LCOX1$USO

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