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Sector Update: Financial Stocks Lean Lower Pre-Bell Thursday

Financial stocks were leaning lower pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) marginally declining.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.4% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.3%.Banco Santander (SAN) shares were down more than 1% after the company said it will temporarily suspend its share buyback program pending approval from US lender Webster Financial's (WBS) shareholders of a proposed takeover by the Spanish bank.Blackstone (BX) shares were down more than 2% even after the company reported higher Q1 distributable earnings and revenue.Nasdaq (NDAQ) stock was up more than 1% after the company posted higher Q1 adjusted earnings and revenue.

$BX$FAS$FAZ$NDAQ$SAN$WBS$XLF

Sectors153d ago

Sector Update: Health Care Stocks Decline Premarket Thursday

Health care stocks were declining premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.3% and the iShares Biotechnology ETF (IBB) 0.7% lower.Thermo Fisher Scientific (TMO) stock was down more than 9% even after the company posted higher fiscal Q1 adjusted earnings and revenue.Sanofi (SNY) shares were up more than 3% after the company reported higher Q1 adjusted earnings and net sales.West Pharmaceutical Services (WST) stock was up more than 16% after the company reported higher Q1 non-GAAP earnings and net sales. West Pharmaceutical Services also issued Q2 outlook above analysts' expectations and raised its 2026 guidance.

$IBB$SNY$TMO$WST$XLV

Sectors153d ago

Sector Update: Consumer Stocks Mixed Pre-Bell Thursday

Consumer stocks were mixed pre-bell Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.2% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.5%.Keurig Dr Pepper (KDP) shares were up more than 2% after the company reported first-quarter adjusted earnings and revenue that topped analysts' expectations.Hasbro (HAS) stock was up more than 4% after the company reported preliminary fiscal Q1 revenue of $970 million to $985 million.TAL Education Group (TAL) shares were down more than 3% even after the company posted higher fiscal Q4 non-GAAP earnings and net revenue.

$HAS$KDP$TAL$XLP$XLY

Sectors153d ago

Sector Update: Tech Stocks Mixed Premarket Thursday

Technology stocks were mixed premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.7% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 0.3%.Nokia (NOK) stock was up more than 9% after the company reported higher Q1 comparable earnings and net sales.STMicroelectronics (STM) shares were up more than 7% after the company posted higher Q1 non-GAAP earnings and revenue, and issued Q2 revenue outlook above analysts' expectations.Roper Technologies (ROP) stock was up more than 3% after the company reported higher Q1 adjusted earnings and revenue, and raised its 2026 adjusted EPS outlook.

$NOK$ROP$STM$XLK$XSD

Sectors153d ago

Sector Update: Energy

Energy stocks were edging higher premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.3%.The United States Oil Fund (USO) was up 0.9% and the United States Natural Gas Fund (UNG) was 1.9% lower.Front-month US West Texas Intermediate crude oil was 1% higher at $93.86 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.9% to $102.87 per barrel, and natural gas futures were down 1.4% at $2.68 per 1 million British Thermal Units.Helix Energy Solutions (HLX) and Hornbeck Offshore Services have agreed to merge in an all-stock deal to form an integrated offshore services company. Shares of Helix were up more than 5% pre-bell.

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Sectors153d ago

Sector Update: Financial

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Sectors153d ago

Gold Steadies Early Along With the Dollar and Yields

Gold prices steadied early on Thursday, remaining rangebound amid concerns high oil prices will push up inflation and force hikes to interest rates.Gold for June delivery was last seen down US$6.20 to US$4,746.80 per ounce.Gold has traded within a US$200 range since the start of the month despite the geopolitical turmoil that followed the Feb.28 start to the war on Iran. While the metal has a reputation as a store of value in turbulent times, traders have instead turned to bonds and the dollar to fend off the threat of higher interest rates as surging oil prices push inflation higher, keeping the metal rangebound."After a deep decline in March, April has been about stabilization for gold. While we get the sense that investors remain tactical, the tone of our conversations has been one of optimism. The all-time highs looked to many in the institutional space as overstretched, speculative, and perhaps overleveraged. After the decline and weakness last month, the view is that gold is closer to its fundamentals (i.e., macro-drivers plus uncertainty) than previously," Christopher Louney, a gold and natural gas strategist at RBC Capital Markets, wrote.The dollar edged higher early, with the ICE dollar index last seen up 0.09 points to 98.68. Treasury yields were little changed, with the yield on the U.S. two-year note last seen at 3.813%, up 0.7 basis points, while the 10-year note was unchanged at 4.307%.

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Sectors153d ago

Sector Update: Health Care

Health care stocks were declining premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.1% and the iShares Biotechnology ETF (IBB) 0.5% lower.Thermo Fisher Scientific (TMO) stock was down more than 7% even after the company posted higher fiscal Q1 adjusted earnings and revenue.

$TMO

Sectors153d ago

Sector Update: Consumer

Consumer stocks were mixed pre-bell Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.3% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.5%.Keurig Dr Pepper (KDP) shares were up almost 3% after the company reported Q1 adjusted earnings and revenue that topped analysts' expectations.

$KDP

Sectors153d ago

Sector Update: Tech

Technology stocks were mixed premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.7% and the State Street SPDR S&P Semiconductor ETF (XSD) slightly advancing.Nokia (NOK) stock was up more than 9% after the company reported higher Q1 comparable earnings and net sales.

$NOK

Sectors153d ago

Trump Orders Navy to Shoot Boats Laying Mines in Strait of Hormuz

President Donald Trump said Thursday on Truth Social that he has ordered the US Navy to "shoot and kill" any boat that is laying mines in the Strait of Hormuz."There is to be no hesitation," Trump said. "Additionally, our mine 'sweepers' are clearing the Strait right now. I am hereby ordering that activity to continue but at a tripled up level!"

Sectors153d ago

Trump Orders Navy to Shoot Boats Laying Mines in Strait of Hormuz

Sectors153d ago

Oil Edges Higher as the Prospect for a Peace Deal in the Iran War Stalls

Oil edged higher early on Thursday with the United States and Iran making little progress to end a war that has produced the largest-ever supply shock with shipments from the Persian Gulf region barred from the Strait of Hormuz.West Texas Intermediate (WTI) crude oil for June delivery was last seen up US$0.33 to US$93.29 per barrel, while June Brent oil was up US$0.50 to US$102.41.The United States and Iran remain at an impasse, with Iran refusing to negotiate as long as the U.S. Navy continues to blockade its ports, while the U.S. refuses to lift the blockade. Iran is attacking ships in the Strait of Hormuz, the chokepoint for 20% of the world's daily oil demand supplied by Persian Gulf nations, while reports say U.S. forces are boarding Iranian ships in the Indian Ocean."The Iranian leadership had made the lifting of the US blockade a precondition for the resumption of negotiations, with a senior official calling it an act of military aggression. President Trump for his part has indicated that the ceasefire will remain in place for now, leaving the conflict in a no airstrike, minimal movement of ships, unsustainable equilibrium," Helima Croft, Head of Global Commodity Strategy and MENA Research wrote.WTI oil is up 37% since the Feb. 28 start to the war, but has retreated below the four-year high of US$112.95 touched on April 7 on hopes for a coming end to the conflict. However should traders expect the current impasse between the two sides to stretch out, prices could retests that four-year high."Trump has been touting that a deal with Iran is imminent through most of April. But a deal now looks increasingly elusive. Poly market bets in the US for when the SoH (Strait of Hormuz) will reopen have declined sharply over the past week. Bets on a reopening by 13 May has declined 27% since last Friday to now only 39%. Expectations for when the SoH will reopen is sliding rapidly into the future. That implies a higher oil price," said Bjarne Schieldrop, chief analyst commodities at SEB Research wrote.

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Sectors153d ago

Brent Crude Up 1.1% at US$103 and NY Crude Up 1.15% at Near US$94

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Sectors153d ago

Brent Crude Up 1.75% at US$103.70

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Sectors153d ago

Crude Oil Prices Climb as Shipping Remains Blocked in Strait of Hormuz

Crude oil prices rose on Thursday amid a lack of progress in efforts to end the war in the Middle East, with shipping disruptions remaining in the Strait of Hormuz.Brent crude at last look gained 1.8% to US$103.69/barrel and West Texas Intermediate crude climbed 1.8% to $94.62/barrel. This comes after larger-than-expected gasoline and distillate stock draws in the U.S. and continued restrictions in the strait despite an extended ceasefire between the U.S. and Iran, Reuters said in a Thursday report."The oil market is repricing expectations with little sign of progress in finding a resolution in the Persian Gulf," Reuters quoted ING analysts as saying in a note.Iran on Wednesday seized two ships passing through the Strait of Hormuz and the U.S. is maintaining its blockade of Iran's trade by sea, suggesting continuing disruptions to shipments, analysts said, according to the report.

$CLX1$LCOX1$USO

Sectors153d ago

Sector Update: Energy Stocks Advance Wednesday

Energy stocks gained Wednesday with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.2%.The Philadelphia Oil Service Sector Index climbed 1.8%, and the Dow Jones US Utilities Index shed 0.2%.Crude prices rose as Iran said it seized two container ships in the Strait of Hormuz, indicating heightened tensions even as President Donald Trump extended a ceasefire with Tehran.West Texas Intermediate crude oil rose 3.3% to $92.60 a barrel, and global benchmark Brent advanced 3.2% to $101.63 a barrel. Henry Hub natural gas futures gained 0.6% to $2.71 per 1 million BTU.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 2.2 million barrels in the week ended Friday following a decrease of 5.1 million in the previous week. Excluding inventories in the SPR, commercial crude oil stocks rose by 1.9 million after a drop of 900,000 in the previous week, compared with a decrease of 2 million expected in a survey compiled by Bloomberg.In corporate news, GE Vernova (GEV) shares jumped 14% after the company reported a jump in Q1 earnings and revenue and raised its annual sales forecast.Exxon Mobil (XOM) is considering a sale of its Esso-branded gasoline station network in Hong Kong, with the assets valued at $500 million to $600 million, Bloomberg reported. Exxon shares added 0.7%.Spire (SR) agreed to sell its Mississippi local gas distribution business to Delta Utilities, which is backed by Bernhard Capital Partners, for $75 million. Spire shares fell 0.7%.The US Supreme Court on Wednesday rejected Enbridge's (ENB) motion to move a lawsuit seeking to halt the company's operation of the Line 5 pipeline from Michigan state court to federal court. Enbridge shares fell 0.1%.

$ENB$GEV$SR$XOM

Sectors153d ago

Sector Update: Health Care Stocks Mixed Late Afternoon

Health care stocks were mixed late Wednesday afternoon, with the NYSE Health Care Index down 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.1%.The iShares Biotechnology ETF (IBB) eased 0.1%.In corporate news, Biogen (BIIB) shares rose 2.2% after UBS upgraded the biotechnology company's stock to buy from neutral and boosted its price target to $225 per share from $185.Boston Scientific (BSX) shares jumped 8.3% after the company reported Q1 results exceeded Wall Street's estimates.Intuitive Surgical (ISRG) shares climbed 7% after the company lifted the full-year procedure growth outlook of its Da Vinci robotic surgery system and reported better-than-expected Q1 results.Merck (MRK), Germany's Merck KGaA and Japan's Ono Pharmaceutical expressed interest in Inhibrx Biosciences' (INBX) experimental cancer medicine that may be valued at more than $8 billion, Reuters reported. Merck shares rose 0.4%, and Inhibrx surged 35%.

$BIIB$BSX$INBX$ISRG$MRK

Sectors153d ago

Sector Update: Financial Stocks Decline Late Afternoon

Financial stocks were lower late Wednesday afternoon, with the NYSE Financial Index decreasing 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.3%.The Philadelphia Housing Index rose 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 1%.Bitcoin (BTC-USD) was increasing 3.5% to $78,958, and the yield for 10-year US Treasuries was slightly higher at 4.29%.In corporate news, Prudential Financial (PRU) shares fell 1.5% after Barclays downgraded the stock to underweight from equalweight and cut its price target to $91 per share from $110. Jefferies also downgraded the stock to hold from buy and cut its price target to $98 per share from $124.Goldman Sachs (GS) has reached an agreement to settle a shareholder class action linked to the 1Malaysia Development, or 1MDB, scandal, Bloomberg reported, citing a letter from Goldman and lead plaintiff Sjunde AP-Fonden to US District Judge Vernon Broderick. Goldman shares rose 0.7%.Toronto-Dominion Bank (TD) is considering a rare type of significant risk transfer to hedge against current and future data center debt, Bloomberg reported. Toronto-Dominion Bank shares were down 0.7%.HSBC (HSBC) has shortlisted Allianz, Daiichi Life, and Sumitomo Life Insurance as potential buyers of its Singapore insurance business, Bloomberg reported. HSBC shares eased 0.1%.

$GS$HSBC$PRU$TD

Sectors153d ago

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) and the State Street SPDR S&P Semiconductor ETF (XSD) each adding about 2%.The Philadelphia Semiconductor index climbed 2.6%.In sector news, Texas Attorney General Ken Paxton launched an investigation into streaming platforms, including Spotify (SPOT), Apple's (AAPL) Apple Music, Amazon's (AMZN) Amazon Music and Alphabet's (GOOGL) YouTube Music over an alleged scheme in which the platforms accept bribes to artificially promote certain artists, songs or content, according to a statement from Paxton's office.In corporate news, Seagate Technology (STX) shares rose over 3% after Barclays upgraded the stock to overweight from equalweight and boosted its price target to $625 from $425.Microsoft (MSFT) has appointed Daniel Shapero to become the chief executive of LinkedIn, the company's executive vice president Ryan Roslansky said in a LinkedIn post Wednesday. Microsoft shares were up 2%.Sportradar (SRAD) shares fell 22% after Muddy Waters Research and Callisto Research published short reports on the company.Alphabet's (GOOGL) Google Cloud is launching a $750 million fund to help consulting firms such as Accenture (ACN), McKinsey, and Deloitte to get clients to use agentic AI software, Bloomberg reported. Alphabet shares added 2.1%.

$GOOGL$MSFT$SRAD$STX

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Sectors153d ago

Oil Edges Higher as the Prospect for a Peace Deal in the Iran War Stalls

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