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Sector Update: Consumer Stocks Fall Friday Afternoon

Consumer stocks were falling Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) shedding 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 1.1%.In corporate news, Netflix's (NFLX) Q2 revenue fell short of Wall Street's estimates, while the streaming giant said it will no longer publish its engagement report semi-annually. Its shares fell 7.7%.Autoliv's (ALV) Q2 revenue topped expectations, though earnings fell short amid higher raw material costs. Autoliv shares were down 3.8%.Coca-Cola (KO) said late Thursday that Fairlife, its dairy company, identified unauthorized third-party access to a part of its systems during a ransomware attack. Coca-Cola said it is investigating the impact of the incident and has notified law enforcement. Coca-Cola shares were shedding 4%.

$ALV$KO$NFLX

Sectors22d ago

Sector Update: Energy

Energy stocks gained Friday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) increasing 0.6%.The Philadelphia Oil Service Sector Index was up 0.1%, and the Dow Jones US Utilities Index was shedding 0.5%.Crude oil prices jumped amid Washington intensifying strikes against Iran. US Central Command said in a post on X that it completed the sixth consecutive wave of attacks against Iran, degrading the nation's military capabilities and holding it "accountable" for recent attacks on commercial shipping in the Strait of Hormuz. President Donald Trump has threatened to launch broad-based air strikes on Iranian infrastructure and has also declined to rule out a ground assault on Iran's coast or islands, Reuters reported.Front-month West Texas Intermediate crude oil jumped 4.1% to $82.22 a barrel, and the global benchmark Brent crude contract climbed 4.1% to $87.66 a barrel. Henry Hub natural gas futures rose 1.6% to $2.91 per 1 million BTU.In corporate news, ConocoPhillips (COP) said Friday it has agreed to acquire a 42% stake in BP's (BP) BP Energy Co. of Kirkuk, which oversees the ongoing redevelopment of four large-scale, currently producing oil fields in northern Iraq's Kirkuk region. ConocoPhillips shares rose 0.8%, and BP climbed 1.2%.

$BP$COP

Sectors22d ago

Sector Update: Tech

Tech stocks were mixed Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) rising 0.2%.The Philadelphia Semiconductor index was fractionally higher.In corporate news, Meta Platforms (META) is in talks to rent out computing power from its data centers to Anthropic in a deal that could be worth up to $10 billion over two years, The New York Times reported. Meta shares were down 2%.

$META

Sectors22d ago

Sector Update: Healthcare

Healthcare stocks were mixed Friday afternoon, with the NYSE Healthcare Index increasing 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.3%.The iShares Biotechnology ETF (IBB) was up 0.1%.In corporate news, Intuitive Surgical (ISRG) shares fell nearly 13%. Growth in the company's da Vinci robotic surgery procedures in the US moderated due in part to changes in Affordable Care Act premium subsidies, even as it reported better-than-expected quarterly results.

$ISRG

Sectors22d ago

Sector Update: Financial

Financial stocks were lower in Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each shedding 0.6%.The Philadelphia Housing Index was falling 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.2%.Bitcoin (BTC-USD) was decreasing 0.2% to $63,628, and the yield for 10-year US Treasuries was shedding 2.4 basis points to 4.545%.In corporate news, Fifth Third Bancorp (FITB) on Friday reported a steeper-than-expected drop in Q2 profit year over year, while Regions Financial's (RF) revenue fell short of Wall Street's estimates. Fifth Third shares fell 2.2%, and Regions was down 1.8%.

$FITB$RF

Sectors22d ago

Sector Update: Consumer

Consumer stocks were were falling Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) shedding 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 1%.In corporate news, Netflix's (NFLX) Q2 revenue fell short of Wall Street's estimates, while the streaming giant said it will no longer publish its engagement report semi-annually. Its shares fell past 7%.

$NFLX

Sectors22d ago

Gold Falls to an Eight-Month Low as Rising Oil Prices Revive Inflation Worries

Gold traded at an eight-month low early on Friday as higher oil prices following renewed fighting between Iran and the US revived inflation concerns.Gold for August delivery was last seen down 0.6% at $3,969.80 per ounce, the lowest level since Nov. 6.The decline came as oil prices surged after fresh fighting between the US and Iran kept the Strait of Hormuz closed, trapping ships that had supplied about 20% of global daily oil demand from Persian Gulf nations before the war.Oil has climbed 14% over the past week as the conflict in the Middle East resumed, fueling concerns that higher inflation will force central banks to raise interest rates, a negative for gold because the metal offers no yield."Gold slipped back below USD 4,000 as inflation concerns driving US rate hike speculation continuing to weigh on investor sentiment. Rising energy prices linked to the Middle East conflict have reinforced inflation risks, while an increasing number of Federal Reserve officials have warned that persistent price pressures could require further policy tightening," Saxo Bank wrote.The dollar was higher early, with the ICE dollar index last seen up 0.08 points to 100.85. Treasury yields were lower, with the US two-year note last seen paying 4.128%, down 3.0 basis points, while the yield on the 10-year note was down 4.1 points to 4.518%.

$GCQ6$GLD

Sectors22d ago

Sector Update: Energy Stocks Advance Premarket Friday

Energy stocks were advancing premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.5% higher.The United States Oil Fund (USO) was up 3.1% and the United States Natural Gas Fund (UNG) was 0.2% higher.Front-month US West Texas Intermediate crude oil was 3.2% higher at $81.46 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 3% to $86.77 per barrel, and natural gas futures were up 1.4% at $2.90 per 1 million British Thermal Units.ConocoPhillips (COP) said it has agreed to acquire a 42% interest in BP's (BP) BP Energy Company of Kirkuk, which oversees the ongoing redevelopment of four large-scale, currently producing oil fields in northern Iraq's Kirkuk region. Shares of ConocoPhillips were up more than 2% and BP stock rose past 1% premarket.Chevron (CVX) is expected to sign accords with Iraq on Friday that will further the company's negotiations about investing in large oil fields, Bloomberg said, citing a senior company executive. Chevron shares were up more than 1% pre-bell.

$BP$COP$CVX$UNG$USO$XLE

Sectors22d ago

Sector Update: Financial Stocks Lean Lower Pre-Bell Friday

Financial stocks were leaning lower pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.5% higher.Truist Financial (TFC) stock was down 0.3% even after the company reported higher Q2 earnings and revenue.Travelers (TRV) shares were up more than 1% after the company posted higher Q2 core income and revenue.Fifth Third Bancorp (FITB) stock was down 0.8% after the company reported a decline in Q2 earnings.

$FAS$FAZ$FITB$TFC$TRV$XLF

Sectors22d ago

Sector Update: Healthcare Stocks Mixed Premarket Friday

Healthcare stocks were mixed premarket Friday, with the State Street Health Care Select Sector SPDR ETF (XLV) up 0.4% and the iShares Biotechnology ETF (IBB) 0.7% lower.GSK (GSK) shares were down more than 3% after the company said it will discontinue development of camlipixant for refractory chronic cough after the drug produced mixed results in the phase 3 CALM-1 and CALM-2 trials.Novartis (NVS) shares were up more than 1% after the company said the US Food and Drug Administration approved Fabhalta under the traditional approval pathway to slow kidney function decline in adults with primary immunoglobulin A nephropathy at risk of disease progression.Takeda Pharmaceutical (TAK) shares were 0.6% higher after the company said new phase 3 data showed its oral TYK2 inhibitor, zasocitinib, delivered high rates of skin clearance across difficult-to-treat body sites in adults with moderate-to-severe plaque psoriasis.

$GSK$IBB$NVS$TAK$XLV

Sectors22d ago

Sector Update: Consumer Stocks Mixed Premarket Friday

Consumer stocks were mixed premarket Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 1.2% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.5%.Autoliv (ALV) stock was down more than 5% after the company reported Q2 adjusted earnings that missed analysts' expectations.Yum! Brands-owned (YUM) Taco Bell restaurants in five states are reportedly causing a Cyclospora outbreak through shredded iceberg lettuce from Mexico, the US Food and Drug Administration said. Yum! Brands shares were 0.2% higher pre-bell.

$ALV$XLP$XLY$YUM

Sectors22d ago

Sector Update: Tech Stocks Fall Pre-Bell Friday

Technology stocks were falling pre-bell Friday, with the State Street Technology Select Sector SPDR Fund (XLK) down 2.3% and the State Street SPDR S&P Semiconductor ETF (XSD) 3.2% lower.Cadence Design Systems (CDNS) and Rapidus will jointly work to advance "agentic AI" for advanced-node system-on-chip design under a new collaboration. Shares of Cadence Design Systems were down more than 6% premarket.IPG Photonics (IPGP) shares were down more than 4% after the company said it signed a binding offer to acquire France-based Lumibird Medical for 300 million euros ($343.2 million) in cash, with up to 50 million euros in additional earnout payments tied to 2026 and 2027 performance.Docebo (DCBO) stock was up more than 5% after the company raised its preliminary Q2 total revenue outlook and 2026 revenue guidance.

$CDNS$DCBO$IPGP$XLK$XSD

Sectors22d ago

Oil Rises as Fresh Middle East Fighting Keeps the Strait of Hormuz Closed

Oil traded higher early on Friday as fresh fighting between the US and Iran kept the Strait of Hormuz closed.West Texas Intermediate crude oil for August delivery was last seen up 2.5% at $80.94 per barrel, while September Brent crude was up 2.3% at $86.16.The gains followed reports that the US struck bridges around Iran's port city of Bandar Abbas, according to The Wall Street Journal. Iran responded with attacks on neighboring countries and strikes on ships in the Persian Gulf.The fresh fighting is keeping the Strait of Hormuz closed, the chokepoint for 20% of daily oil demand supplied by Persian Gulf nations prior to the Feb. 28 start to the war. About 285 ships remain trapped in the Persian Gulf, according to hormuzstraitmonitor.com, with 10 ships moving through the Strait in the past day."Crude oil extended its rally, with Brent climbing back above USD 85 a barrel as energy and refined fuel flows through the Strait of Hormuz continues to slow amid the escalating conflict between the US and Iran. The renewed disruption has interrupted the recent recovery in regional supply, reviving concerns about tighter global markets," Saxo Bank noted.

C:Q6$LCOU6$USO

Sectors22d ago

Sector Update: Energy

Energy stocks were advancing premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.5% higher.The United States Oil Fund (USO) was up 2.8% and the United States Natural Gas Fund (UNG) was 0.1% lower.Front-month US West Texas Intermediate crude oil was 2.4% higher at $80.86 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.3% to $86.16 per barrel, and natural gas futures were up 0.7% at $2.88 per 1 million British Thermal Units.ConocoPhillips (COP) said it has agreed to acquire a 42% interest in BP's (BP) BP Energy Company of Kirkuk, which oversees the ongoing redevelopment of four large-scale, currently producing oil fields in northern Iraq's Kirkuk region. Shares of ConocoPhillips were up more than 2% and BP stock rose past 1% premarket.

$BP$COP

Sectors22d ago

Sector Update: Financial

Financial stocks were edging higher pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was slightly lower.Truist Financial (TFC) stock was down 1% even after the company reported higher Q2 earnings and revenue.

$TFC

Sectors22d ago

Sector Update: Healthcare

Healthcare stocks were mixed premarket Friday, with the State Street Health Care Select Sector SPDR ETF (XLV) up 0.3% and the iShares Biotechnology ETF (IBB) 0.6% lower.GSK (GSK) shares were down more than 2% after the company said it will discontinue development of camlipixant for refractory chronic cough after the drug produced mixed results in the phase 3 CALM-1 and CALM-2 trials.

$GSK

Sectors22d ago

Sector Update: Consumer

Consumer stocks were mixed premarket Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 1% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.7%.Autoliv (ALV) stock was down more than 4% after the company reported Q2 adjusted earnings that missed analysts' expectations.

$ALV

Sectors22d ago

Sector Update: Tech

Technology stocks were falling pre-bell Friday, with the State Street Technology Select Sector SPDR Fund (XLK) down 2.4% and the State Street SPDR S&P Semiconductor ETF (XSD) 3.4% lower.Cadence Design Systems (CDNS) and Rapidus will jointly work to advance "agentic AI" for advanced-node system-on-chip design under a new collaboration. Shares of Cadence Design Systems were down more than 5% premarket.

$CDNS

Sectors22d ago

Commerzbank Says Equities, U.S. Stock Futures Slip on AI Exit, Treasuries Extend Gains, Brent Oil Steady

Equities remained under pressure, with South Korea's Kospi (-6.4%) and Japan's Nikkei (-5.8%) leading the continuation of the Artificial Intelligence-driven sell-off, while U.S. equity futures also extended the previous session's losses, according to a note from Commerzbank.Treasuries extended gains during the Asian session, noted Commerzbank.Brent oil held steady around $85 a barrel, trading within a narrow range despite the exchange of attacks between the US and Iran. The Japanese yen remained stable, while Japanese government bonds posted a mixed performance, said the bank.Finance Minister Satsuki Katayama said Japan is prepared to take decisive action to support the yen if necessary.Kansas City Federal Reserve President Jeff Schmid said his primary concern is that inflation could remain "too hot" for "too long," warning that price pressures may accelerate further. Dallas Fed President Lorie Logan reiterated that interest rates may need to move "modestly higher," while Fed Vice Chair Philip Jefferson said policymakers should remain open to additional rate hikes if inflation does not continue to ease, although he believes the current policy stance is well-positioned.Bloomberg survey results indicate that 75% of economists expect the European Central Bank's final 25bps rate hike to come in September, with no economists expecting a hike at next week's meeting, said Commerzbank.

$CXY$JPY

Sectors23d ago

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index increasing 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index was down 0.5%, and the Dow Jones US Utilities Index was fractionally higher.Front-month West Texas Intermediate crude oil shed 0.8% to $78.98 a barrel, and the global benchmark Brent crude contract decreased 0.8% to $84.27 a barrel. Henry Hub natural gas futures fell 1.2% to $2.89 per 1 million BTU.In sector news, US natural gas stocks rose by 41 billion cubic feet in the week ended July 10, above the 39 billion increase expected in a survey compiled by Bloomberg and following an increase of 61 billion cubic feet in the previous week.In corporate news, Excelerate Energy (EE) shares rose 2.2% after Goldman Sachs initiated coverage of the stock with a buy rating and a $49 price target.Chevron (CVX) is expected to sign accords with Iraq on Friday that will further the company's negotiations about investing in large oil fields, Bloomberg reported Thursday, citing a senior company executive. Chevron shares were up 1.1%.Constellation Energy's (CEG) venture arm made an equity investment in Blue Energy, a developer of prefabricated nuclear power plants, for an undisclosed amount. Constellation shares were down 2.9%.TotalEnergies (TTE) expects Q2 hydrocarbon production to be nearly 2.4 million barrels of oil equivalent per day, supported by about 4% organic growth, the company said Thursday. Its shares were shedding 1.9%.

$CEG$CVX$EE$TTE

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