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Sector Update: Tech Stocks Mixed Late Afternoon

Tech stocks were mixed late Thursday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) easing 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.8%.The Philadelphia Semiconductor Index rose 0.7%.Nscale is informing prospective investors that it has $51 billion in contracted revenue ahead of a US initial public offering that might occur as soon as September, Bloomberg reported.Apple (AAPL) sued OpenAI, which is backed by Microsoft (MSFT), over trade secret theft, though the AI company asked a federal judge to dismiss the case as meritless, Bloomberg reported. Apple shares rose 0.5%, and Microsoft added 2.3%.Space Exploration Technologies (SPCX) will build a vertically integrated semiconductor fabrication facility in Grimes County, Texas, with phase one of the Terafab project including a capital investment of more than $16.8 billion, Governor Greg Abbott said in a statement. SpaceX shares rose 4.6%.AppLovin (APP) shares fell 20% after Q2 revenue fell short of market estimates.Palo Alto Networks' (PANW) products sold in China are undergoing a cybersecurity review by the country's regulators, Bloomberg reported. Palo Alto shares fell 0.9%.

$AAPL$APP$MSFT$PANW$SPCX

Sector Update: Energy Stocks Gain Late Afternoon

Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index rising 1.6% and the State Street Energy Select Sector SPDR ETF (XLE) up 1.5%.The Philadelphia Oil Service Sector Index was climbing 3.8%, and the Dow Jones US Utilities Index was shedding 0.6%.In geopolitical news, Iran and Oman are reportedly close to finalizing a framework regarding the Strait of Hormuz. But US and Israeli ships would be blocked from moving through the strategic waterway, Iranian state news outlet Fars reported Thursday, according to CNBC.Front-month West Texas Intermediate crude oil rose 3.1% to $77.54 a barrel, and the global benchmark Brent crude contract added 4.1% to $82.68 a barrel. Henry Hub natural gas futures fell 2% to $2.64 per 1 million BTU.In sector news, US natural gas stocks rose by 33 billion cubic feet in the week ended July 31, above the 30 billion increase expected in a survey compiled by Bloomberg and following an increase of 28 billion cubic feet in the previous week.In corporate news, BP (BP) has agreed to acquire Woodside Energy's (WDS) 70% stake in the Calypso gas project in Trinidad and Tobago. Following the close of the deal, BP will own 100% of the early-stage, deepwater natural gas project and will assume operatorship, it said. BP shares rose 2.7%, and Woodside added 3.2%.SLB (SLB) and Equinor (EQNR) signed a multiyear agreement for reservoir stimulation services across the Norwegian Continental Shelf, including a major upgrade of the MV Island Captain well stimulation vessel, the companies said Thursday. SLB shares rose 3.6%, and Equinor added 3.5%.ConocoPhillips (COP) shares rose 1.6% after it reported higher Q2 adjusted earnings and revenue. The company also said Chief Financial Officer Andy O'Brien will succeed Ryan Lance as president and chief executive officer, effective Sept. 1.Suncor Energy (SU) said Thursday its Chief Executive Officer Rich Kruger will move to the executive vice chair role in April 2027. Executive Vice President Upstream Peter Zebedee will succeed Kruger following a board-led succession process, the company said. The company also said Zebedee will become CFO and president on Sept. 14, overseeing all non-operating functions before assuming the CEO role in 2027. Suncor shares were down 2.3%.

$BP$COP$EQNR$SLB$SU$WDS

Sector Update: Healthcare Stocks Mixed Late Afternoon

Healthcare stocks were mixed late Thursday afternoon, with the NYSE Healthcare Index fractionally higher and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.1%.The iShares Biotechnology ETF (IBB) was up 0.4%.In corporate news, Emergent BioSolutions (EBS) shares dropped 30% after it cut its full-year guidance and announced an organizational restructuring plan.Becton, Dickinson (BDX) raised its full-year earnings guidance as the medical device maker's Q3 results exceeded Wall Street's estimates amid revenue gains across all divisions. Its shares gained 3.5%.Enovis (ENOV) shares fell 13% after the company reported its results for fiscal Q2.Braveheart Bio (BRVE) shares surged 70% in its Nasdaq debut Thursday, after the company announced an upsized IPO of 21.25 million common shares late Wednesday.

$BDX$BRVE$EBS$ENOV

Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks were lower late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.5%.In sector news, the US Federal Communications Commission said Thursday it has voted to repeal the 39% national television multiple ownership rule and replace it with a case-by-case review. Under the case-by-case approach, the commission can analyze factors related to localism, viewpoint diversity, and competition and apply them in the context of a specific transaction, the FCC said.In corporate news, Papa John's International (PZZA) shares fell past 17% after it cut its 2026 global systemwide restaurant sales outlook, overshadowing better-than-expected quarterly results despite lower revenue.Restaurant Brands International (QSR) reported better-than-expected Q2 earnings on Thursday amid strong comparable sales growth at Burger King across domestic and international markets. Its shares were still down 2.3%.Fox's (FOX, FOXA) fiscal Q4 results topped Wall Street's estimates as broad advertising strength from the FIFA Men's World Cup, along with growing streaming momentum at Tubi and Fox One drove top-line growth. The company's Class A and Class B shares climbed past 5%.Warner Bros. Discovery (WBD) reported a surprise Q2 profit on Thursday amid double-digit revenue growth in its streaming segment, while the media and entertainment giant secured regulatory approval in the UK for its proposed acquisition by Paramount Skydance (PSKY). Warner Bros. shares rose 2%.

$FOX$FOXA$PZZA$QSR$WBD

Sector Update: Financial Stocks Softer Late Afternoon

Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index decreasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.4%.The Philadelphia Housing Index was falling 2.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.6%.Bitcoin (BTC-USD) was down 0.4% to $64,368, and the yield for 10-year US Treasuries rose 5.5 basis points to 4.672%.In economic news, small businesses reported that the level of worker shortages was higher in July, with a seasonally adjusted 36% of respondents in a National Federation of Independent Business survey released Thursday saying they were having trouble hiring the workers that they needed, up from 32% in the previous month and the highest since June 2025. The NFIB's Small Business Employment Index rose to 102.1 in July from 100.2 in June, still above the historical average of 100.0 and the 2025 average of 101.2.In corporate news, Apollo Global Management's (APO) Eagle Bidco and EasyJet have reached an agreement under which the Apollo fund will buy the airline for 7.15 British pounds ($9.63) per share in cash, according to a regulatory filing with the London Stock Exchange. Apollo shares were shedding 1.7%.Blackstone (BX) and Apollo Global Management were among a group of prominent financial institutions and private equity firms targeted by ransom-seeking hackers over the past month, Reuters reported, citing Alphabet's (GOOGL) Google and internet intelligence data it reviewed. Blackstone shares were falling 2.1%.Chime Financial (CHYM) shares surged 22% after the company swung to a Q2 profit, exceeded revenue expectations, and raised 2026 guidance.JPMorgan Chase (JPM) underwent a federal probe this year as prosecutors looked into claims the lender ignored deficiencies in its anti-fraud program and improperly denied more than $100 million in reimbursements for stolen money, The Wall Street Journal reported. JPMorgan shares declined 0.8%.

$APO$BX$CHYM$JPM

Sector Update: Energy

$SU

Sector Update: Tech

Tech stocks were mixed late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) down 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.8%.The Philadelphia Semiconductor Index rose 1%.In corporate news, Apple (AAPL) sued Microsoft-backed (MSFT) OpenAI over trade secret theft, but the AI company asked a federal judge to dismiss the case as meritless, Bloomberg reported, citing a court filing. Apple shares were up 0.5%, and Microsoft added 2.3%.

$AAPL$MSFT

Sector Update: Healthcare

Healthcare stocks edged higher late Thursday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each adding 0.1%.The iShares Biotechnology ETF (IBB) was up 0.3%.In corporate news, Emergent BioSolutions (EBS) shares fell past 31% after it cut its full-year guidance and announced an organizational restructuring plan.

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Sector Update: Consumer

Consumer stocks were lower late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.5%.In corporate news, Fox's (FOX, FOXA) fiscal Q4 results topped Wall Street's estimates as broad advertising strength from the FIFA Men's World Cup, along with growing streaming momentum at Tubi and Fox One drove top-line growth. The company's Class A and Class B shares climbed past 5%.

$FOX$FOXA

Sector Update: Financial

$APO$BX

September WTI Crude Oil Contract Closes Up $2.07, or 2.8%; Settles at $77.29 per Barrel. October Brent Oil Last Seen Up $2.99, or 3.8% to $82.44

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Market Chatter: Iran Wants to Bar US, Israeli Ships From Hormuz as Part of Oman Deal

Iran will attempt to bar US and Israeli ships from the Strait of Hormuz and require compensation from hostile countries before they can access it, Bloomberg reported Thursday, citing local media reports of a proposed Iran-Oman deal.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Iran Wants to Bar US, Israeli Ships From Hormuz as Part of Oman Deal, Bloomberg Reports

Sector Update: Financial Stocks Softer in Afternoon Trading

Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index decreasing 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.4%.The Philadelphia Housing Index was falling 2.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.9%.Bitcoin (BTC-USD) was down 0.2% to $64,580, and the yield for 10-year US Treasuries was rising 5.7 basis points to 4.67%.In economic news, small businesses reported that the level of worker shortages was higher in July, with a seasonally adjusted 36% of respondents in a National Federation of Independent Business survey released Thursday saying they were having trouble hiring the workers that they needed, up from 32% in the previous month and the highest since June 2025. The NFIB's Small Business Employment Index rose to 102.1 in July from 100.2 in June, still above the historical average of 100.0 and the 2025 average of 101.2.In corporate news, Apollo Global Management's (APO) Eagle Bidco and EasyJet have reached an agreement under which the Apollo fund will buy the airline for 7.15 British pounds ($9.63) per share in cash, according to a regulatory filing with the London Stock Exchange. Apollo shares were shedding 1.7%.Deutsche Bank (DB) and KBC have frozen some of Radiant World's bank accounts in Singapore, as pressure mounts on the commodities trader, Bloomberg reported. Some of the largest commodity trading firms have stopped dealing with Radiant World due to concerns it gave banks falsified documents about iron ore trades, Bloomberg reported last week. Deutsche shares were down 0.8%.JPMorgan Chase (JPM) underwent a federal probe this year as prosecutors looked into claims the lender ignored deficiencies in its anti-fraud program and improperly denied more than $100 million in reimbursements for stolen money, The Wall Street Journal reported. JPMorgan shares declined 0.9%.

$APO$DB$JPM

Sector Update: Energy Stocks Gain Thursday Afternoon

Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 1.3% and the State Street Energy Select Sector SPDR ETF (XLE) up 1%.The Philadelphia Oil Service Sector Index was climbing up 3.5%, and the Dow Jones US Utilities Index was shedding 0.9%.In geopolitical news, Iran has made a concerted diplomatic push with Gulf states, warning them explicitly that Tehran will hit their oil, power and water plants unless they convince President Donald Trump to end US strikes on Iran, Reuters reported Thursday. Iran and Oman are close to finalizing a proposed framework for commercial shipping through the Strait of Hormuz, Tehran's deputy foreign minister said, according to a CNN report Thursday. However, the agreement would not automatically reopen the waterway, he warned, according to the news report. The deal would give Tehran control over ships entering the Gulf through the Strait of Hormuz, a senior Iranian source and two regional officials told Reuters on Wednesday.Front-month West Texas Intermediate crude oil rose 3.5% to $77.83 a barrel, and the global benchmark Brent crude contract added 4.2% to $82.77 a barrel. Henry Hub natural gas futures fell 1.1% to $2.66 per 1 million BTU.In sector news, US natural gas stocks rose by 33 billion cubic feet in the week ended July 31, above the 30 billion increase expected in a survey compiled by Bloomberg and following an increase of 28 billion cubic feet in the previous week.In corporate news, BP (BP) has agreed to acquire Woodside Energy's (WDS) 70% stake in the Calypso gas project in Trinidad and Tobago. Following the close of the deal, BP will own 100% of the early-stage, deepwater natural gas project and will assume operatorship, it said. BP shares rose 2.2%, and Woodside added 2.9%.ConocoPhillips (COP) shares rose 0.9% after it reported higher Q2 adjusted earnings and revenue. The company also said Chief Financial Officer Andy O'Brien will succeed Ryan Lance as president and chief executive officer, effective Sept. 1.Canadian Natural Resources (CNQ) shares gained 1.5% after it posted higher Q2 adjusted earnings and revenue.

$BP$WDS

Sector Update: Healthcare Stocks Fall in Afternoon Trading

Healthcare stocks were lower Thursday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each shedding 0.5%.The iShares Biotechnology ETF (IBB) was fractionally higher.In corporate news, Enovis (ENOV) shares fell 11% after the company reported its results for fiscal Q2.Becton, Dickinson (BDX) raised its full-year earnings guidance as the medical device maker's Q3 results exceeded Wall Street's estimates amid revenue gains across all divisions. Its shares gained 4.7%.Braveheart Bio (BRVE) shares rose 67% in its Nasdaq debut Thursday, after the company announced an upsized IPO of 21.25 million common shares late Wednesday.

$BDX$BRVE$ENOV

Sector Update: Consumer Stocks Decline Thursday Afternoon

Consumer stocks were lower Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) each decreasing 0.6%.In sector news, the US Federal Communications Commission has voted 2-1 to remove a restriction that limits companies from owning broadcast TV stations reaching more than 39% of TV households, Deadline reported Thursday. The move faces a potential court challenge, amid warnings that only Congress has the authority to remove the restriction, according to the report. FCC Chairman Brendan Carr has said that the cap removal is essential for providing relief for local broadcasters by restoring a counterbalance against growing leverage of national programmers.In corporate news, Papa John's International (PZZA) shares fell past 15% after it cut its 2026 global systemwide restaurant sales outlook, overshadowing better-than-expected quarterly results despite lower revenue.Restaurant Brands International (QSR) reported better-than-expected Q2 earnings on Thursday amid strong comparable sales growth at Burger King across domestic and international markets. Its shares were still down 2.3%.Warner Bros. Discovery (WBD) reported a surprise Q2 profit on Thursday amid double-digit revenue growth in its streaming segment, while the media and entertainment giant secured regulatory approval in the UK for its proposed acquisition by Paramount Skydance (PSKY). Warner Bros. shares rose 1.8%.

$PZZA$QSR$WBD