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Sector Update: Energy Stocks Advance Premarket Monday

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.6% higher.The United States Oil Fund (USO) was up 3.9% and The United States Natural Gas Fund (UNG) was 0.3% higher.Front-month US West Texas Intermediate crude oil was 5.8% higher at $88.68 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 5.1% to $94.95 per barrel, and natural gas futures were up 1.6% at $2.72 per 1 million British Thermal Units.Eni (E) shares were up 0.7% after the company said it has made a gas discovery in the Kutei Basin off the coast of Indonesia.Phillips 66 (PSX) and Kinder Morgan (KMI) said they are advancing the proposed Western Gateway Pipeline after a successful second open season secured sufficient long-term shipper commitments, subject to final approvals. Phillips 66 stock was up more than 1% premarket.Sable Offshore (SOC) shares were up more than 3% after the company said capital expenditure across its assets is expected to be around $180 million from April through December this year.

$E$KMI$PSX$SOX$UNG$USO$XLE

Sectors19d ago

Sector Update: Financial Stocks Fall Pre-Bell Monday

Financial stocks were falling pre-bell Monday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.5%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1.2% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 1.5%.Bank of Hawaii (BOH) shares were down more than 2% after the company reported Q1 earnings and revenue that missed analysts' expectations.Sila Realty Trust (SILA) said it has entered into a definitive merger agreement through which affiliates of Blue Owl Capital (OWL) will acquire all of its outstanding common stock for $30.38 per share in an all-cash deal valued at about $2.4 billion. Blue Owl Capital stock was down more than 1% premarket.Apollo Global Management (APO) has agreed to invest $1.25 billion in convertible preferred equity in McKesson's (MCK) Medical-Surgical Solutions business, acquiring about a 13% minority stake as part of the unit's planned separation, McKesson said. Apollo Global Management shares were 0.7% lower premarket.

$APO$BOH$FAS$FAZ$MCK$OWL$SILA$XLF

Sectors19d ago

Gold Falls As Dollar and Yields Rise as Iran Again Closes the Strait of Hormuz

Gold traded lower early on Monday as the dollar rose while hopes for an end to the war on Iran faded after Iran on Friday opened and then closed the Strait of Hormuz, pushing up oil prices and the dollar on worries over higher inflation and interest rates.Gold for May delivery was last seen down $54.90 to US$4,824.70 per ounce.Gold rose on Friday after Iran briefly reopened the Strait of Hormuz, the chokepoint for 20% of daily global oil demand supplied by Persian Gulf nations. However, later it again refused to permit transit through the waterway as the United States declined to end its blockade of Iran's ports.The United States is sending negotiators to Pakistan for peace talks but The Guardian reported Iran has no plans to attend after the U.S. Navy disabled and seized a Iranian cargo ship in the Gulf over the weekend. A ceasefire between the two countries ends tomorrow, with U.S. President Trump again threatening to attack Iranian civilian infrastructure unless a deal is reached.The closure of the Strait has produced the largest-ever energy supply shock, pushing up physical oil prices along with gasoline and diesel costs and causing widespread shortages of aviation fuel, raising inflation and concerns central banks will need to hike interest rates in response."The latest weakness has been driven by renewed dollar strength and fresh concerns about energy-led inflation. Gold and silver, like many other commodities, remain highly sensitive to developments in the Middle East given the knock-on impact on the dollar, bond yields, and US rate expectations," Saxo Bank wrote in a note to clients.The dollar rose early, with the ICE dollar index last seen up 0.14 points to 98.24 points. Treasury yields were also higher, with the U.S. two-year note last seen paying 3.739%, up 2.7 basis points, while the yield on the 10-year note was up 1.5 points to 4.266%.

$GCK6$GLD

Sectors19d ago

Sector Update: Health Care Stocks Lean Lower Premarket Monday

Health care stocks were leaning lower premarket Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) declining by 0.4% and the iShares Biotechnology ETF (IBB) down 0.5%.Biogen (BIIB) has agreed to acquire TJ Biopharma's rights to the felzartamab antibody in the Greater China Region under a definitive agreement, the companies said. Biogen shares were up more than 1% pre-bell.AstraZeneca (AZN) said its pivotal phase 3 study of tozorakimab demonstrated a "significant" reduction in the annual rate of moderate-to-severe chronic obstructive pulmonary disease, or COPD, exacerbations in trial participants. Shares of AstraZeneca were down more than 1% premarket.ANI Pharmaceuticals (ANIP) stock was up more than 1% after the company said it has received US Food and Drug Administration approval and launched Pimozide Tablets in 1 mg and 2 mg doses, the generic version of Orap, with 180-day Competitive Generic Therapy exclusivity.

$ANIP$AZN$BIIB$IBB$XLV

Sectors19d ago

Sector Update: Consumer Stocks Decline Pre-Bell Monday

Consumer stocks were declining pre-bell Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.5% lower.Lululemon athletica (LULU) said it has launched its e-commerce platform in Mexico. Lululemon athletica stock was 0.5% lower premarket.Ingles Markets (IMKTA) shareholders are being urged by proxy advisory firms Institutional Shareholder Services, Glass Lewis, and Egan-Jones Ratings to support activist investor Summer Road nominee Rory Held for election to the company's board at its 2026 annual meeting, according to a statement issued by Summer Road. Ingles Markets stock was nearly 2% higher premarket.LCI Industries (LCII) and Patrick Industries (PATK) said they were in discussions regarding a potential business combination. Shares of Patrick Industries were up more than 2% pre-bell.

$IMKTA$LCII$LULU$PATK$XLP$XLY

Sectors19d ago

Sector Update: Tech Stocks Lean Lower Premarket Monday

Technology stocks were leaning lower premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) declining by 0.8%.Alphabet's (GOOG, GOOGL) Google is negotiating with Marvell Technology (MRVL) to develop two new processors optimized for artificial intelligence inference tasks, The Information reported, citing two people with knowledge of the discussions. Shares of Marvell Technology were up more than 5% pre-bell.Meta Platforms (META) plans to initiate its layoffs planned for this year on May 20, with more expected to come later, Reuters reported, citing people familiar with the matter. Meta Platforms shares were down 0.7% premarket.Parsons (PSN) said the Los Angeles Department of Water and Power selected the company to provide demand response technology, integration, and services. Parsons stock was 0.2% lower pre-bell.

$GOOG$GOOGL$META$MRVL$PSN$XLK$XSD

Sectors19d ago

Sector Update: Energy

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 1% higher.The United States Oil Fund (USO) was up 5.1% and the United States Natural Gas Fund (UNG) was 1.4% higher.Front-month US West Texas Intermediate crude oil was 5.6% higher at $88.51 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 5.3% to $95.13 per barrel, and natural gas futures were up 1.6% at $2.72 per 1 million British Thermal Units.Eni (E) shares were up more than 3% after the company said it has made a gas discovery in the Kutei Basin off the coast of Indonesia.

Sectors19d ago

Sector Update: Financial

$BOH

Sectors19d ago

Sector Update: Health Care

Health care stocks were flat to lower premarket Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) inactive and the iShares Biotechnology ETF (IBB) down 0.5%.Biogen (BIIB) has agreed to acquire TJ Biopharma's rights to the felzartamab antibody in the Greater China Region under a definitive agreement, the companies said. Biogen shares were up more than 1% pre-bell.

$BIIB

Sectors19d ago

Oil Prices Surge as Iran Again Blocks the Strait of Hormuz; Peace Talks in Doubt as the U.S. Port Blockade Continues

Oil prices surged early on Monday after Iran again closed the Strait of Hormuz after the United States refused to end a blockade of country's ports while firing on and seizing an Iranian cargo ship, lowering expectations the two countries will resume peace talks.West Texas Intermediate crude oil for May delivery was last seen up US$4.63 to US$88.48 per barrel, while June Brent oil was up US$4.34 to US$94.72.Prices plunged on Friday after Iran briefly reopened the Strait of Hormuz, the chokepoint for 20% of daily global oil demand supplied by Persian Gulf nations. However it later again refused to permit transit through the waterway as the United States declined to end its blockade of Iran's ports.The United States is sending negotiators to Pakistan for peace talks but The Guardian reported Iran has no plans to attend after the U.S. disabled and seized a Iranian cargo ship in the Gulf on the weekend. A ceasefire between the two countries ends tomorrow, with U.S. President Trump again threatening to attack Iranian civilian infrastructure unless a deal is reached."Traders entered the weekend on the assumption that Iran had reopened the Strait of Hormuz, only for it to be effectively closed again within hours after the IRGC claimed a US blockade of Iran-linked vessels violated the ceasefire agreement set to expire on Tuesday. Prices extended gains after the US Navy fired upon and seized an Iranian vessel, further undermining confidence in any near-term diplomatic progress," Saxo Bank wrote.The closure of the Strait has produced the largest-ever energy supply shock, pushing up physical oil prices along with gasoline and diesel costs and causing widespread shortages of aviation fuel."We have a divergence where the financial market is trading negotiations, improvements and resolution while at the same time the physical market is deteriorating day by day. Physical oil flows remain constrained by disrupted flows, longer voyage times and elevated freight and insurance costs," Bjarne Schieldrop, chief analyst Commodities, at SEB Research wrote.

$CLK6$LCOM6$USO

Sectors19d ago

Sector Update: Consumer

$LULU

Sectors19d ago

Sector Update: Tech

Technology stocks were leaning lower premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) marginally declining.Alphabet's (GOOG, GOOGL) Google is negotiating with Marvell Technology (MRVL) to develop two new processors optimized for artificial intelligence inference tasks, The Information reported, citing two people with knowledge of the discussions. Shares of Marvell Technology were up more than 5% pre-bell.

$GOOG$GOOGL$MRVL

Sectors19d ago

Brent Crude Up 5% at Above US$94.90 and NY Crude Up 6.2% at Above US$89 After Iran Closes Strait of Hormuz Again

$CLK6$LCOM6$USO

Sectors19d ago

Crude Oil Markets Face Uncertainty Amid Developments in Middle East, Commerzbank Says

Uncertainty in the oil markets remain high as tensions are likely to rise significantly again, and price movements are heavily dependent on developments in the Middle East, Commerzbank said in a Friday note.According to estimates by the International Energy Agency, global oil disruptions now total about 13 million barrels per day.In the U.S., meanwhile, trends in inventories have been largely alarming, the bank noted. Crude imports plummeted last week, and a repeat of this would heighten the market's awareness of supply shortages, Commerzbank said.The IEA has also revised downward its forecast for oil demand this year in its monthly report. It no longer expects an increase, but rather a slight decline in global demand.The decline in demand is concentrated primarily in liquefied petroleum gas, naphtha and ethane, which are used as feedstocks in the petrochemical industry and are particularly affected by supply disruptions, the bank said.

$CLX1$LCOX1$USO

Sectors19d ago

Crude Oil Prices Jump as U.S.-Iran Ceasefire Appears Fragile

Crude oil prices surged on Monday amid concerns about the fragility of the ceasefire between the U.S. and Iran affecting flows through the Strait of Hormuz.Brent crude at last look gained 5% to US$94.92/barrel and West Texas Intermediate crude rose 6% to $88.89/barrel. This comes after the U.S. seized an Iranian cargo ship, and despite Iran's declaration that the Strait of Hormuz will be opened through the ceasefire, tankers have been fired upon by the Islamic Revolutionary Guard Corps, Reuters reported Monday, citing analysts."Market fundamentals are getting worse, as 10-11 million barrels per day of crude oil remains shut in," Reuters quoted Sparta Commodities analyst June Goh as saying.Iran said it would not participate in a second round of negotiations that the U.S. had hoped to start before the two-week ceasefire expires this week, igniting fears of a resumption in hostilities, the report said.

$CLX1$LCOX1$USO

Sectors22d ago

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks were advancing in late Friday afternoon trading, with the NYSE Financial Index rising 1.3% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.9%.The Philadelphia Housing Index popped 3.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 1.6%.Bitcoin (BTC-USD) rose 2.8% to $77,288, and the yield for 10-year US Treasuries dropped 6.3 basis points to 4.246%.In sector news, JPMorgan Chase (JPM) and Barclays (BCS) are among the Wall Street banks that recently started trading credit default swaps against flagship private credit funds run by Blackstone (BX), Apollo Global Management (APO) and Ares Management (ARES), the Financial Times reported.In corporate news, Ally Financial (ALLY) shares jumped past 8%. The company reported Q1 adjusted earnings of $1.11 per diluted share, up from $0.58 a year earlier, and above the FactSet consensus estimate of $0.93.Fifth Third Bancorp (FITB) shares rose 1.7% after it reported a surprise Q1 profit on Friday.Truist Financial (TFC) reported Q1 earnings of $1.09 per diluted share, up from $0.87 a year earlier. Analysts polled by FactSet expected $1. Truist shares gained 2.4%.Deutsche Bank (DB) has notified Germany's central bank, Bundesbank, that it may have violated sanctions that limit deposits of Russian individuals to less than 100,000 euros ($118,000), multiple media outlets reported Friday. Deutsche shares were up 2.7%.

$ALLY$APO$ARES$BCS$BX$DB$FITB$JPM$TFC

Sectors22d ago

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks were sharply lower late Friday afternoon, with the NYSE Energy Sector Index dropping 3.7% and the State Street Energy Select Sector SPDR ETF (XLE) falling 2.8%.The Philadelphia Oil Service Sector Index declined 1.1%, and the Dow Jones US Utilities Index decreased 0.5%.In sector news, oil prices plunged Friday as Iran's foreign minister said the Strait of Hormuz is "completely open" following a ceasefire in Lebanon. "In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire," Iran's Foreign Minister Seyed Abbas Araghchi said Friday in a post on the X platform.Front-month West Texas Intermediate crude oil slumped 11% to $84.23 a barrel, and the global benchmark Brent crude contract dropped 9.2% to $90.28 a barrel. Henry Hub natural gas futures rose 1.2% to $2.68 per 1 million BTU.In corporate news, Chevron (CVX), Exxon Mobil (XOM) and other major oil companies received backing from the US Supreme Court on Friday as the court ruled that lawsuits filed by Louisiana officials accusing them of harming the state's coastal areas should be transferred out of the state courts and into federal court, according to a court document. Chevron shares were down 2.1%, and Exxon shed 3.6%.An Astana court upheld a 2.356 trillion tenge ($5 billion) environmental fine against North Caspian Operating Co., the operator of Kazakhstan's Kashagan oil field, whose shareholders include Exxon Mobil, Shell (SHEL), TotalEnergies (TTE), and Eni (E), among others, Bloomberg reported. Shell shares dropped 4%, TotalEnergies shed 4.1%, and Eni fell 5.6%.Petrobras (PBR) said Friday it signed an agreement with Oranto Petroleum to buy a 75% working interest and assume operatorship of Block 3, an offshore exploration site in Sao Tome and Principe. Petrobras shares were down 4.9%.Exelon (EXC) shares fell 1.2% after multiple brokerages downgraded the energy provider.

$CVX$E$EXC$PBR$SHEL$TTE$XOM

Sectors22d ago

Sector Update: Health Care Stocks Advance Late Afternoon

Health care stocks climbed late Friday afternoon, with the NYSE Health Care Index rising 1.4% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.5%.The iShares Biotechnology ETF (IBB) gained 1.6%.In corporate news, Abbott Laboratories' (ABT) end-markets remain healthy despite a lower 2026 organic revenue guidance amid fiscal Q1 challenges and mixed performance, RBC Capital Markets said in a note. Abbott shares rose 1.7%.Merck (MRK) shares added 2.8% after it said Friday that the European Commission has approved Enflonsia to prevent respiratory tract disease in newborns and infants.Kura Oncology (KURA) shares jumped past 9% after it said Friday that new preliminary data from a subset analysis of patients with clear cell renal cell carcinoma previously treated with cabozantinib showed "robust" antitumor activity in an ongoing clinical trial of darlifarnib in combination with cabozantinib.Psyence Biomedical (PBM) shares surged 30% after it acknowledged recent reports saying that the US administration is preparing an executive order to further evaluate the safety and therapeutic potential of ibogaine, a naturally occurring compound being studied for its potential in treating post-traumatic stress disorder, addiction, and other serious neurological and mental health conditions. Through its investment in PsyLabs, Psyence has established a position in the manufacturing of ibogaine and ibogaine derivatives, it said.

$ABT$KURA$MRK$PBM

Sectors22d ago

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.3% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 2.1%.The Philadelphia Semiconductor index climbed 1.9%.In corporate news, Palantir (PLTR), Thales, and Air Space Intelligence were selected by the US Federal Aviation Administration to compete on a new AI tool for air traffic management, Bloomberg reported. Palantir shares rose 2.8%.Apple (AAPL) recorded a 20% year-over-year increase in smartphone shipments in China during Q1 to become the second-largest seller in the country, Counterpoint Research said Friday. Apple shares climbed 2.7%.Amazon-backed (AMZN) Anthropic Chief Executive Dario Amodei is set to meet on Friday with White House Chief of Staff Susie Wiles for talks that could set the stage for federal agencies to eventually start using Mythos, the company's new AI model, Bloomberg reported. Amazon shares were up 0.4%.Bandwidth (BAND) shares jumped past 11% after B. Riley raised its price target to $27 from $20 while keeping its buy rating.

$AAPL$AMZN$BAND$PLTR

Sectors22d ago

Sector Update: Consumer Stocks Rise Late Afternoon

Consumer stocks were higher late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 2.4%.In corporate news, Lululemon Athletica's (LULU) billionaire founder Chip Wilson is starting a business focused on small athletic brands, Bloomberg reported. Wilson has hired an operating partner to be part of the new venture, which will include new brands and existing small brands, the report said. Lululemon shares were up 2.7%.Sony (SONY) and Honda's (HMC) 50-50 joint venture has decided to explore other opportunities to make the venture work after canceling plans for their proposed co-developed electric vehicle, Nikkei Asia reported Friday. The two companies are discussing non-EV products and services as alternatives and expect other uses for their EV technologies, the report said. Sony shares rose 1.4%, and Honda climbed 2.8%.Netflix (NFLX) shares dropped more than 9% after it released Q2 guidance late Thursday below market consensus. The streaming company also said that its Chairman and Co-founder Reed Hastings plans to step down when his term ends in June.Autoliv's (ALV) Q1 results exceeded Wall Street's estimates, while the Swedish automotive safety supplier affirmed its full-year outlook on Friday amid an uncertain business environment. Its shares jumped past 7%.

$ALV$HMC$LULU$NFLX$SONY

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Sectors19d ago

Oil Prices Surge as Iran Again Blocks the Strait of Hormuz; Peace Talks in Doubt as the U.S. Port Blockade Continues

$CLK6$LCOM6$USO