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Natural Gas Falls on Cooler Long-Term Forecasts

Natural gas prices fell early Wednesday as cooler long-term forecasts reduced expectations for cooling demand.Gas for August delivery was last seen down $0.03 at $2.88 per million British thermal units.The decline came as long-term forecasts from the National Weather Service expect seasonal or cooler-than-normal temperatures across most states in the northeastern US over its six-to-14-day outlook, curbing air-conditioning demand.Still, supply remains robust. In its weekly survey, the Energy Information Administration said stocks of the fuel rose by 61 billion cubic feet in the prior week, above forecasts from forecaster NatGasWeather for an increase of up to 54 billion cubic feet. The report said inventories ended the week at 2.98 trillion cubic feet, 6.6% above the five-year average. The agency will release fresh storage data tomorrow.

$NGQ6$UNG

Sectors29d ago

Gold Steady as Dollar and Yields Drop After US Wholesale Prices Fell in June

Gold was steady early on Wednesday as the dollar and treasury yields fell after the US reported an unexpected drop in wholesale price inflation last month.Gold for August delivery was last seen up 0.2% to $4,078.40 per ounce.The US Bureau of Labor Statistics reported the June Producer Price Index fell by 0.3% in June, down from a rise of 0.6% in May and under expectations for a flat reading, according to Marketwatch.Core PPI, excluding volatile food, energy and trade services rose 0.1% last month, down from a rise of 0.8% in May and under expectations for a rise of 0.3%.The drop follows the bureau's Tuesday report showing consumer prices also eased last month. The slowing growth in consumer and wholesale prices is checking worries the Federal Reserve will need to raise interest rates to manage rising costs. However, higher oil prices as Iran and the U.S. renewed fighting this week is reviving rate worries."Softer-than-expected US CPI data boosted expectations for a less aggressive Federal Reserve. However, the move quickly faded, with prices trading back down to around USD 4,030, as renewed gains in oil prices and fresh US strikes against Iran revived inflation concerns," Saxo Bank wrote.The dollar edged down following the inflation data, with the ICE dollar index last seen down 0.05 points to 100.87. Treasury yields were also lower, with the US two-year note last seen paying 4.166%, down 2.7 basis points, while the yield on the 10-year note was down 1.4 points to 4.571%.

$GCQ6$GLD

Sectors29d ago

Sector Update: Energy Stocks Edge Higher Premarket Wednesday

Energy stocks were edging higher premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.1%.The United States Oil Fund (USO) was up 0.8% and the United States Natural Gas Fund (UNG) was 1.5% lower.Front-month US West Texas Intermediate crude oil was 0.4% higher at $79.64 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.1% to $84.77 per barrel, and natural gas futures were down 1.1% at $2.87 per 1 million British Thermal Units.Shell (SHEL) has kicked off a tendering process for drilling services at its Dragon offshore gas project in eastern Venezuela, pressing ahead with its plan to start drilling four wells from Q2 2027, Reuters reported, citing two people familiar with the process. Shell stock was up more than 1% pre-bell.Halliburton (HAL) said it was awarded a multiyear contract from Aramco to provide stimulation and completion services supporting unconventional gas development in Saudi Arabia. Halliburton shares were 0.2% higher premarket.

$HAL$SHEL$UNG$USO$XLE

Sectors29d ago

Sector Update: Financial Stocks Advance Pre-Bell Wednesday

Financial stocks were advancing pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.5% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.2% lower.Payments firm Stripe and Advent International have offered to acquire PayPal (PYPL) for $60.50 per share in a deal that would value the company at more than $53 billion, Reuters reported, citing two unnamed people familiar with the matter. Shares of PayPal were up more than 18% premarket.Morgan Stanley (MS) shares were down more than 1% even after the company posted higher Q2 earnings and net revenue.BlackRock (BLK) stock was up more than 5% after the company reported higher Q2 adjusted earnings and revenue.

$BLK$FAS$FAZ$MS$PYPL$XLF

Sectors29d ago

Sector Update: Healthcare Stocks Decline Premarket Wednesday

Healthcare stocks were declining premarket Wednesday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.6% and the iShares Biotechnology ETF (IBB) 0.1% lower.Elevance Health (ELV) shares were down more than 8% after the company reported lower Q2 adjusted earnings.Johnson & Johnson (JNJ) stock was down more than 2% even after the company posted higher fiscal Q2 adjusted earnings and reported sales, and raised its fiscal 2026 outlook.Merck (MRK) shares were up more than 2% after the company said its phase 3 trial of its therapy, Keytruda, met the primary endpoint of progression-free survival in patients with mismatch repair-deficient advanced or recurrent endometrial cancer.

$ELV$IBB$JNJ$MRK$XLV

Sectors29d ago

Sector Update: Consumer Stocks Mixed Pre-Bell Wednesday

Consumer stocks were mixed pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advancing by 0.2%.Conagra Brands (CAG) shares were down more than 6% after the company reported a decline in fiscal Q4 adjusted earnings and issued fiscal 2027 adjusted EPS outlook below analysts' expectations.eBay's (EBAY) proposed acquisition of Depop received clearance from the UK Competition and Markets Authority, the regulator said. eBay shares were 0.6% higher premarket.Uber Technologies (UBER) has formed a new partnership with GameStop (GME) that will allow customers to order video games, consoles, accessories from GameStop locations nationwide via Uber Eats marketplace, the companies said. GameStop stock was up 0.3% pre-bell.

$CAG$EBAY$GME$UBER$XLP$XLY

Sectors29d ago

Sector Update: Tech Stocks Rise Premarket Wednesday

Technology stocks were rising premarket Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.4% higher.ASML Holding (ASML) stock was up more than 3% after the company reported year-over-year growth in Q2 earnings and sales and raised revenue guidance for the full-year 2026.Nokia (NOK) shares were up more than 3% after the company said it launched a commercial AI-RAN platform to boost mobile network capacity and efficiency using artificial intelligence.IBM (IBM) launched an artificial intelligence agent to continuously monitor systems and autonomously resolve issues alongside a compact Power server and development software to help businesses automate operations and build applications. IBM shares were up more than 1% pre-bell.

$ASML$IBM$NOK$XLK$XSD

Sectors29d ago

Sector Update: Energy

Energy stocks were leaning lower premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) marginally declining.The United States Oil Fund (USO) was up 0.2% and the United States Natural Gas Fund (UNG) was 1.7% lower.Front-month US West Texas Intermediate crude oil was 0.4% higher at $79.69 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.3% to $84.96 per barrel, and natural gas futures were down 0.3% at $2.89 per 1 million British Thermal Units.Shell (SHEL) has kicked off a tendering process for drilling services at its Dragon offshore gas project in eastern Venezuela, pressing ahead with its plan to start drilling four wells from Q2 2027, Reuters reported, citing two people familiar with the process. Shell stock was up more than 1% pre-bell.

$SHEL

Sectors29d ago

Sector Update: Financial

Financial stocks were advancing pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.3% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.1% lower.Payments firm Stripe and Advent International have offered to acquire PayPal (PYPL) for $60.50 per share in a deal that would value the company at more than $53 billion, Reuters reported, citing two unnamed people familiar with the matter. Shares of PayPal were up more than 19% premarket.

$PYPL

Sectors29d ago

Sector Update: Healthcare

Healthcare stocks were declining premarket Wednesday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.4% and the iShares Biotechnology ETF (IBB) 0.1% lower.Elevance Health (ELV) shares were down more than 7% after the company reported lower Q2 adjusted earnings.

$ELV

Sectors29d ago

Sector Update: Consumer

Consumer stocks were edging higher pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advancing by 0.2%.Conagra Brands (CAG) shares were down more than 5% after the company reported a decline in fiscal Q4 adjusted earnings and issued fiscal 2027 adjusted EPS outlook below analysts' expectations.

$CAG

Sectors29d ago

Sector Update: Tech

$ASML

Sectors29d ago

US Completes Strikes Against Iran at 7:30 a.m. ET

US Central Command said Wednesday on X that it completed a morning round of strikes against Iran at 7:30 a.m. ET."CENTCOM launched precision munitions against coastal defense systems and cruise missile storage and launch sites on Greater Tunb Island during the 90-minute wave. The strikes further degraded Iran's ability to attack commercial shipping in the Strait of Hormuz," Central Command said.

Sectors29d ago

US Completes Strikes Against Iran at 7:30 a.m. ET, Centcom Says

Sectors29d ago

Middle East Tensions, Fed Comments Keep Oil Steady as Treasuries Hold Gains, Says Commerzbank

Brent crude was little changed, remaining below $86 a barrel as investors digest the latest development in the Middle East, while Treasuries held onto gains at the front end of the curve following Tuesday's rally. Longer-dated yields, however, edged higher, according to Commerzbank.The U.S. launched a fourth consecutive day of strikes on Iran. President Donald Trump warned of attacks on Iranian bridges and power plants next week unless Tehran resumes negotiations, while dropping plans for a 20% toll on ships using the Strait of Hormuz, said Commerzbank in a note.Separately, Saudi Arabia struck an airport in Yemen.Chair Kevin Warsh said the latest consumer price index report doesn't signal "mission accomplished" for the Federal Reserve and expressed interest in developing new measures of inflation. Warsh also said the Fed's balance sheet is unlikely to return to its 2006 size. Separately, Chicago Fed President Austan Goolsbee described Tuesday's CPI data as "surprisingly benign".In Asia, China's economy expanded 4.3% annually in the second quarter, missing the 4.5% consensus forecast, although June industrial production and retail sales both came in stronger than expected, said Commerzbank.In Europe, a draft European Commission proposal would relax leverage ratio-related capital requirements for banks, according to the FT. Finance Minister Rachel Reeves said the British government plans to issue its first digital bond early next year.

$CXY

Sectors29d ago

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks were advancing in late Tuesday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.3%.The Philadelphia Housing Index was up 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.5%.Bitcoin (BTC-USD) was gaining 3.6% to $64,499, and the yield for 10-year US Treasuries was decreasing 2.4 basis points to 4.585%.In economic news, the US seasonally adjusted consumer price index fell by 0.4% in June, compared with expectations of a 0.1% decline in a survey compiled by Bloomberg and following a 0.5% increase in May, the Bureau of Labor Statistics said Tuesday. Core CPI, which excludes food and energy prices, held steady, compared to the consensus estimate of a 0.2% gain. Core CPI rose by 0.2% in May. The year-over-year rates for headline and core CPI slowed to 3.5% and 2.6%, respectively, from 4.2% and 2.9% in May.In corporate news, Switch, a data center operator, has hired Goldman Sachs (GS) and JPMorgan Chase (JPM) as lead underwriters for an IPO that could raise up to $10 billion as soon as Q4, valuing the company at roughly $80 billion, including debt, Reuters reported. Separately, Goldman's Q2 results topped Wall Street's estimates as a record performance in the global banking and markets business propelled its revenue growth. JPMorgan reported Q2 results above market expectations on Tuesday, driven by higher investment banking fees and markets revenue. Goldman shares rose past 8%, and JPMorgan added 2.3%.Bank of America's (BAC) Q2 results beat Wall Street's estimates on Tuesday as increased client activity helped drive sharp gains in investment banking fees and trading revenue. Its shares climbed 2.1%.Warren Buffett said Tuesday that his goal is to dispose of all of his Berkshire Hathaway (BRK.A, BRK.B) shares within roughly eight years. The statement came alongside an announcement that Buffett on Tuesday will convert 8,000 Berkshire Class A shares into 12 million Berkshire Class B shares that will be donated to four foundations. Berkshire Class A shares were down 0.6%, and the Class B shares were shedding 0.8%.KKR (KKR) is one of several suitors to make a non-binding offer for Logoplaste, as the Portuguese packaging maker's majority shareholder works on a potential sale that could value it at about $1.94 billion, Bloomberg reported. Separately, Thomson Reuters (TRI) said Tuesday it has agreed to sell a 51% stake in its global print unit to KKR for roughly $500 million in a joint venture transaction expected to close in Q4. KKR shares were up 0.4%.

$BAC$BRK.A$BRK.B$GS$JPM$KKR

Sectors29d ago

Sector Update: Energy Stocks Advance Late Afternoon

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index up 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.2%.The Philadelphia Oil Service Sector Index was down 0.3%, and the Dow Jones US Utilities Index was fractionally higher.President Donald Trump withdrew his proposal to charge a 20% toll on cargo transiting the Strait, according to his social media post on Tuesday. "Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States." There will be a "FULL Blockade, but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo," Trump said on Truth Social.Front-month West Texas Intermediate crude oil rose 2% to $79.70 a barrel, and the global benchmark Brent crude contract gained 2.4% to $85.30 a barrel. Henry Hub natural gas futures increased 0.7% to $2.92 per 1 million BTU.In corporate news, Thomas Barrack, US special envoy for Syria and Iraq, has held talks with officials from both countries as well as Chevron (CVX) and other companies about reviving a defunct pipeline running from Iraq to the western coast of Syria, Bloomberg reported. Chevron shares were down 0.2%.Patterson-UTI Energy (PTEN) shares rose 1.6% after Piper Sandler upgraded the stock to overweight from neutral.Shell (SHEL) will receive a production-linked tax credit from Nigeria for its Bonga Southwest Aparo deepwater project, Bloomberg reported. Shell shares were up 0.4%.Bloom Energy (BE) short sellers have made key mistakes on the company's access to the rare-earth mineral scandium and ignore its recent filings showing it has resolved its sourcing constraints, RBC said in a note. Bloom Energy shares rose 4.2%.

$BE$CVX$PTEN$SHEL

Sectors29d ago

Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks were lower late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.1%.Redbook US same-store sales rose by 8.2% from a year earlier in the week ended July 11 after an 11.5% year-over-year increase in the previous week. "Discounts continue to drive sales performance and often vary weekly based on store promotions and product availability," Redbook said.In corporate news, Lucid (LCID) on Tuesday denied rumors of exploring a potential bankruptcy filing. "The rumors are completely false," the company said in an emailed statement to. Lucid said it has "sufficient liquidity to carry its operations well into next year" and has not created a special board committee to assess the scenarios reported. Lucid shares were down past 15%.Yum! Brands' (YUM) Taco Bell has stopped serving lettuce and cilantro at some restaurants in the Detroit metro area amid a growing cyclosporiasis outbreak in Michigan, multiple news outlets reported Tuesday. Yum! Brands shares were shedding 2.5%.Uber (UBER) is in advanced talks with Delivery Hero regarding a potential takeover of the German food-delivery company, Delivery Hero said on Tuesday. Uber shares were down 2.8%.Thomson Reuters (TRI) said Tuesday it has agreed to sell a 51% stake in its global print unit to KKR (KKR) for roughly $500 million in a joint venture transaction expected to close in Q4. Thomson Reuters shares were shedding 1.5%.

$LCID$TRI$UBER$YUM

Sectors29d ago

Sector Update: Healthcare Stocks Fall Late Afternoon

Healthcare stocks fell late Tuesday afternoon with the NYSE Healthcare Index declining 1.7% and the State Street Health Care Select Sector SPDR ETF (XLV) dropping 1.9%.The iShares Biotechnology ETF (IBB) shed 0.4%.In corporate news, the US Justice Department recently sent civil investigative demands, which are similar to subpoenas, to lawyers for a group of hospitals and doctor groups suing Claritev (CTEV) for alleged antitrust violations, Bloomberg reported. Claritev shares fell 5.1%.HCA Healthcare (HCA) shares dropped 7.2% after the company lowered its 2026 adjusted diluted EPS guidance. Stephens cut its price target on the stock to $480 from $500, while keeping its overweight rating.IM8, a nutritional supplements company co-founded by Prenetics Global (PRE) and David Beckham, has lined up about $1 billion in growth financing from General Catalyst, Bloomberg reported. Prenetics shares jumped 17%.NextCure (NXTC) shares almost tripled after the company agreed to merge with privately held Avere Therapeutics in an all-stock deal.

$CTEV$HCA$NXTC$PRE

Sectors29d ago

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.9%. The Philadelphia Semiconductor index climbed up 2.9%.In corporate news, the US has approved purchases of advanced AI chips from Nvidia (NVDA) and Advanced Micro Devices (AMD) by a ZTE unit and two other Chinese firms, Reuters reported. Nvidia shares gained 3.8%, and AMD added 2.6%.CleanSpark (CLSK) has signed a 20-year infrastructure lease agreement with a global technology firm for its Sandersville, Georgia, data center campus in a deal expected to generate about $6.6 billion in contracted revenue over the initial term, the company said Tuesday. CleanSpark shares jumped past 8%.IBM (IBM) shares tumbled past 24% after its preliminary Q2 results fell short of market expectations, with Chief Executive Arvind Krishna calling the performance "disappointing."Oaktree Capital Management-backed Pure Data Centres is building a data center campus in Finland that is expected to be used by customers including Microsoft (MSFT), Bloomberg reported. Pure Data Centres is investing 1.5 billion euros ($1.7 billion) in the first phase of the project, the report said. Microsoft shares were down 1.4%.

$AMD$CLSK$IBM$MSFT$NVDA

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Sectors29d ago

Sector Update: Financial Stocks Higher Late Afternoon

$BAC$BRK.A$BRK.B$GS$JPM$KKR