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Sector Update: Financial

Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index down 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) falling 0.7%.The Philadelphia Housing Index rose 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.1%.Bitcoin (BTC-USD) was decreasing 0.4% to $77,852, and the yield for 10-year US Treasuries rose 2.9 basis points to 4.32%.In corporate news, American Express (AXP) shares were down 4.8% even after the payments giant reported better-than-expected Q1 results and reiterated its full-year outlook.

$AXP

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Sector Update: Health Care

Health care stocks declined late Thursday afternoon, with the NYSE Health Care Index decreasing 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) fractionally lower.The iShares Biotechnology ETF (IBB) fell 1.8%.In corporate news, Grace Therapeutics (GRCE) shares tumbled 48% after it said the US Food and Drug Administration issued a complete response letter for its new drug application for GTx-104, an intravenous formulation of nimodipine for aneurysmal subarachnoid hemorrhage.

$GRCE

Sectors16d ago

Sector Update: Consumer

Consumer stocks were mixed late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.8% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1%.In corporate news, Comcast (CMCSA) reported higher-than-expected Q1 results as the media and connectivity giant benefited from the Milan Cortina Winter Olympics and Super Bowl LX. Its shares jumped past 8%.

$CMCSA

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Sector Update: Tech

Tech stocks were mixed late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.6% and the State Street SPDR S&P Semiconductor ETF (XSD) rising 1.5%.The Philadelphia Semiconductor index added 1%.In corporate news, Meta Platforms (META) intends to eliminate roughly 8,000 jobs, or 10% of its workforce, in an attempt to boost efficiency and offset significant spending on AI, Bloomberg reported, citing a memo the company sent to employees. Meta shares were down 2.4%.

$META

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Update: WTI Oil Closes Higher as the Prospects for a Peace Deal in the Iran War Stall

West Texas Intermediate (WTI) crude oil closed highe 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.WTI crude oil for June delivery closed up US$2.89 to settle at US$95.85 per barrel, while June Brent oil was last seen up US$3.07 to US$104.98.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 43% 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 retest 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.

$CLM6$LCOM6$USO

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May WTI Crude Oil Contract Closes Up US$2.89; Settles at US$95.85 per Barrel

$CLM6$LCOM6$USO

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Sector Update: Energy Stocks Rise Thursday Afternoon

Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.6%.The Philadelphia Oil Service Sector Index was climbing 1.5%, and the Dow Jones US Utilities Index was rising 2.3%.In sector news, President Donald Trump has ordered the US Navy to "shoot and kill" any boat that is laying mines in Hormuz, according to his Truth Social post on Thursday. On the same day, Iran flaunted its tightened grip over Hormuz with a video of commandos storming a cargo ship named MSC Francesca, Reuters reported. The US and Iran remain at an impasse, with Tehran refusing to negotiate a peace deal as long as the US Navy continues to blockade its ports and Washington refuses to lift the siege. Mediators are trying to get the diplomatic process back on track, including arranging a possible meeting between warring parties as soon as Friday, The Wall Street Journal reported.Front-month West Texas Intermediate crude oil was rising 5.3% to $97.92 a barrel, and the global benchmark Brent crude contract was advancing 4.1% to $106.04 a barrel. Henry Hub natural gas futures fell 5% to $2.59 per 1 million BTU.US natural gas stocks rose by 103 billion cubic feet in the week ended April 17, a larger gain than the 96 billion increase expected in a survey compiled by Bloomberg as of 7:35 am ET and following a revised increase of 60 billion cubic feet in the previous week.In corporate news, PG&E (PCG) reported Q1 adjusted earnings Thursday of $0.43 per share, up from $0.33 a year earlier. Analysts surveyed by FactSet expected $0.40. Its shares were 0.2% higher.Helix Energy Solutions (HLX) and Hornbeck Offshore Services have agreed to merge in an all-stock deal to form an integrated offshore services company. Helix Energy Solutions shares rose 0.6%.BP (BP) shareholders rejected a proposal that would have eliminated some climate-related disclosure requirements that investors had voted for at previous meetings, and Chair Albert Manifold was elected with 81.8% of the vote, media outlets reported Thursday. BP shares were down 0.3%.

$BP$HLX$PCG

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Sector Update: Financial Stocks Decline Thursday Afternoon

Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index dropping 1.4% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.2%.The Philadelphia Housing Index rose 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.6%.Bitcoin (BTC-USD) was decreasing 1.4% to $77,791, and the yield for 10-year US Treasuries was rising 4.3 basis points to 4.337%.In economic news, US initial jobless claims rose to 214,000 in the week ended April 18 from an upwardly revised 208,000, compared with the 210,000 print expected in a Bloomberg-compiled survey.The April flash reading of manufacturing conditions from S&P Global improved to a 47-month high of 54.0 from 52.3 in March, compared with the 52.5 anticipated in a Bloomberg-compiled poll.In corporate news, Barclays (BCS) has alleged that capital was fraudulently routed across the corporate network of Market Financial Solutions on a significant scale, Bloomberg reported, citing High Court documents. Barclays shares fell 2.3%.Banco Santander (SAN) shares dropped 3% 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.Voya Financial (VOYA) has been encouraged by activist investor Toms Capital Investment Management to put itself up for sale or offload its underperforming health insurer business, the Financial Times reported. Voya shares jumped 5%.

$BCS$SAN$VOYA

Sectors16d ago

Sector Update: Health Care Stocks Lower in Afternoon Trading

Health care stocks declined Thursday afternoon, with the NYSE Health Care Index decreasing 0.5% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.7%.The iShares Biotechnology ETF (IBB) fell 1.9%.In sector news, Acting Attorney General Todd Blanche signed an order Thursday reclassifying state-licensed medical cannabis as a less-dangerous drug, the Associated Press reported, citing a statement from Blanche.In corporate news, Thermo Fisher Scientific (TMO) raised its full-year outlook as Q1 results came in stronger than expected, but organic growth fell short of analysts' estimates. Shares fell 11%.Regeneron Pharmaceuticals (REGN) has struck an agreement with the Trump administration to reduce drug costs for certain Americans and has secured approval for a gene therapy to treat a rare form of deafness, Bloomberg reported. Regeneron shares rose 1.6%.Novo Nordisk (NVO) said a phase 3a trial of oral semaglutide in children and adolescents aged between 10 and 17 years with type-2 diabetes showed a "superior reduction" in a measure of blood sugar control over placebo. Shares were down 2.6%.

$NVO$REGN$TMO

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Sector Update: Tech Stocks Mixed Thursday Afternoon

Tech stocks were mixed Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) rising 1.2%.The Philadelphia Semiconductor index added 0.9%.In sector news, SpaceX is considering manufacturing its own graphics processing units, or GPUs, as part of efforts to secure AI chip supply, Reuters reported Thursday, citing excerpts from a regulatory filing ahead of a planned IPO. The space and satellite firm lists "manufacturing our own GPUs" among the "substantial capital expenditures" it is undertaking, the excerpts of its S-1 registration reportedly showed.In corporate news, IBM (IBM) shares fell past 9% after its quarterly results. Software growth decelerated to 8% in constant currency from 11% in Q4 and 9% in Q3, a "potential red flag for the bears," CFRA said in a note.ServiceNow (NOW) reported strong Q1 results, but softer organic revenue trends and a slightly weaker margin outlook weighed on its overall forecast, Oppenheimer said in a note. Its shares tumbled 18%.Texas Instruments (TXN) shares jumped 17% after it posted higher Q1 earnings and revenue and set out Q2 guidance above consensus.

$IBM$NOW$TXN

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Sector Update: Consumer Stocks Mixed Thursday Afternoon

Consumer stocks were mixed Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.6%.In corporate news, Tesla (TSLA) shares fell 3.7% after it issued higher-than-expected 2026 capital expenditure guidance. TechCrunch reported the company is planning to spend $25 billion this year, compared with $8.5 billion in 2025.Warner Bros. Discovery (WBD) said Thursday its shareholders voted to approve the adoption of the merger agreement with Paramount Skydance (PSKY). Warner shares were down 0.8%, and Paramount fell 5.8%.Vail Resorts (MTN) reported Thursday that skier visits from the start of the ski season through April 19 were down 14.9%, compared with the same period a year ago. Shares fell 5.8%.

$MTN$PSKY$TSLA$WBD

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Sector Update: Energy

Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.7%.The Philadelphia Oil Service Sector Index was climbing 1.6%, and the Dow Jones US Utilities Index was rising 2.4%.Front-month West Texas Intermediate crude oil was rising 3.8% to $96.49 a barrel, and the global benchmark Brent crude contract was advancing 3.4% to $105.41 a barrel. Henry Hub natural gas futures fell 5.1% to $2.58 per 1 million BTU.In corporate news, BP (BP) shareholders rejected a proposal that would have eliminated some climate-related disclosure requirements that investors had voted for at previous meetings, and Chair Albert Manifold was elected with 81.8% of the vote, media outlets reported Thursday. BP shares were down 0.6%.

$BP

Sectors16d ago

Sector Update: Financial

Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index dropping 1% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.3%.The Philadelphia Housing Index rose 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.5%.Bitcoin (BTC-USD) was decreasing 1.6% to $77,707, and the yield for 10-year US Treasuries was rising/ 4.3 basis points to 4.337%.In corporate news, Barclays (BCS) has alleged that capital was fraudulently routed across the corporate network of Market Financial Solutions on a significant scale, Bloomberg reported Thursday, citing High Court documents. Barclays shares fell 2.4%.

$BCS

Sectors16d ago

Sector Update: Health Care

Health care stocks declined Thursday afternoon, with the NYSE Health Care Index decreasing 0.5% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.7%.The iShares Biotechnology ETF (IBB) fell 1.9%.In corporate news, Thermo Fisher Scientific (TMO) raised its full-year outlook on Thursday as Q1 results came in stronger than expected, even as organic growth fell short of analysts' estimates. Its shares fell 10.9%.

$TMO

Sectors16d ago

Sector Update: Tech

Tech stocks were mixed Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.3% and the State Street SPDR S&P Semiconductor ETF (XSD) rising 2%.The Philadelphia Semiconductor index added 1.9%.In corporate news, IBM (IBM) shares dropped past 9% after it maintained its full-year revenue growth outlook and reported Q1 results above Wall Street's estimates.

$IBM

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Sector Update: Consumer

$TSLA

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US Natural Gas Stocks Post Larger Gain Than Expected in Week Ended April 17

US natural gas stocks rose by 103 billion cubic feet in the week ended April 17, a larger gain than the 96 billion increase expected in a survey compiled by Bloomberg as of 7:35 am ET and following a revised increase of 60 billion cubic feet in the previous week.Stocks at 2.063 trillion cubic feet are 7.4% higher than in the comparable week a year ago and 7.1% above their 5-year average.

Sectors16d ago

Sector Update: Energy Stocks Edge Higher Premarket Thursday

Energy stocks were edging higher premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.4%.The United States Oil Fund (USO) was up 1.1% and The United States Natural Gas Fund (UNG) was 2.4% lower.Front-month US West Texas Intermediate crude oil was 0.3% higher at $93.20 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.2% to reach $102.06 per barrel, and natural gas futures were down 1.8% at $2.67 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 Energy Solutions Group were up more than 5% pre-bell.Sasol (SSL) said it now expects fiscal 2026 fuel sales volume growth of 10% to 15% year-over-year, up from previous guidance of 5% to 10%. Sasol shares were down more than 2% premarket.Apollo Global Management (APO) said Thursday it has agreed to acquire a 40% stake in Pembina Gas Infrastructure from KKR (KKR). Pembina Pipeline (PBA) shares were nearly 2% higher pre-bell.

$APO$HLX$KKR$PBA$SSL$UNG$USO$XLE

Sectors16d ago

Natural Gas Moves Lower as Moderate Weather Cuts Into Cooling Demand

Natural gas futures dipped early Thursday ahead of fresh storage data as long-term forecasts expect little heat to boost cooling demand.Gas for May delivery was last seen down $0.04 to US$2.68 per million British thermal units.Long-term forecasts from the National Weather Service see nearly all states with seasonal or cooler temperatures over its six to 14 day outlook, keeping demand for electricity to power air-conditioning low.The Energy Information Administration will release its weekly survey of inventories of the fuel later on Thursday morning. Celsius Energy expects the agency to report a storage rise of 98-billion cubic, the largest build in stocks for the week in five years.

$NGK6$UNG

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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

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Sector Update: Energy Stocks Rise Thursday Afternoon

$BP$HLX$PCG