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Update: WTI Oil Extends Rally as US-Iran Fighting Threatens Persian Gulf Supply

(Updates prices in the second paragraph.)West Texas Intermediate (WTI) crude oil rose for a second day on Tuesday as renewed fighting between the US and Iran again threatens to keep Persian Gulf supply off the market.WTI crude oil for August delivery closed up $1.20, or 1.5%, to settle at $79.34 per barrel, the highest since June 15, while September Brent oil was last seen up $1.34, or 1.6%, to $84.64.Oil is now up 11% in the past two days after Iran and the US renewed fighting on the weekend as they dispute control over the Strait of Hormuz, the chokepoint for 20% of daily oil demand supplied by Persian Gulf nations prior to the Feb. 28 start to the war.Iran attacked three tankers in the Strait and launched strikes against US targets in neighboring countries overnight, the Wall Street Journal reported, while the US carried out five hours of strikes on Iranian targets and re-imposed a blockade of Iranian ports.Iran has again declared the Strait closed, while the US President Trump on Monday said it remains open while announcing plans to impose a 20% toll on shipping through the waterway as a protection fee.The fighting has again kept shipping through the Strait limited, with hormuzstraitmonitor.com reporting just 11 ships have move through the waterway in the past 24 hours, under the daily average of 60 ships."Oil prices jumped almost 10% on Monday - their biggest one-day gain in more than three months - after President Trump reinstated the blockade on Iran and demanded a 20% toll on all cargo passing through the Strait of Hormuz. Brent extended its advance during the Asian session, rising a further 1.1% to USD 85 per barrel for the first time in a month, supported by short covering from wrong-footed traders and renewed concerns over Persian Gulf supply," Saxo Bank wrote.

$CLQ6$LCOU6$USO

Sectors29d ago

Sector Update: Consumer

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%.In corporate news, Lucid (LCID) confirmed it is working with restructuring adviser AlixPartners but that industry rumors of a possible bankruptcy are "completely false," Bloomberg reported. Lucid shares fell 13%.

$LCID

Sectors29d ago

Sector Update: Tech

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 2.9%.In corporate news, 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 1.3%.

$MSFT

Sectors29d ago

Sector Update: Healthcare

Healthcare stocks were lower late Tuesday afternoon, with the NYSE Healthcare Index down 1.7% and the State Street Health Care Select Sector SPDR ETF (XLV) falling 1.9%.The iShares Biotechnology ETF (IBB) was down 0.4%.In corporate news, 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 rose 15%.

$PRE

Sectors29d ago

August WTI Crude Oil Contract Closes Up $1.20, or 1.5%; Settles at $79.34 per Barrel

$CLQ6$LCOU6$USO

Sectors29d ago

Sector Update: Energy Stocks Decline Tuesday Afternoon

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.2%.The Philadelphia Oil Service Sector Index was down 0.3%, and the Dow Jones US Utilities Index decreased 0.2%.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 1.2% to $79.04 a barrel, and the global benchmark Brent crude contract gained 1.5% to $84.53 a barrel. Henry Hub natural gas futures decreased 0.1% to $2.89 per 1 million BTU.In corporate news, Shell (SHEL) will receive a production-linked tax credit from Nigeria for its Bonga Southwest Aparo deepwater project, Bloomberg reported. Shell shares were up 0.3%.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 to investors on Tuesday. Bloom Energy shares rose 2.7%.American Resources' (AREC) ReElement Technologies unit received a $25 million investment from the US Department of Defense through the Industrial Base Fund to expand domestic rare earth refining capacity at its Marion, Indiana, facility, the company said Tuesday. American Resources shares jumped past 6%.

$AREC$BE$SHEL

Sectors29d ago

Update: Gold Rises Off an Eight-Month Low as Dollar Falls After US Consumer Prices Eased in June

(Updates prices in the second and final paragraphs.)Gold rose off an eight-month low on Tuesday as the U.S. dollar and yields weakened after the consumer prices eased in the world's biggest economy in June, easing concerns rising prices would force higher interest rates.Gold for August delivery was last seen up $57.50, or 1.4%, to $4,063.20 per ounce, after falling to the lowest since Nov. 6 a day earlier.The US Bureau of Labor Statistics reported the Consumer Price Index fell by 0.4% in June, down from a rise of 0.5% in May and against expectations for a fall of 0.2%, according to Marketwatch. The drop was the largest monthly decrease since April 2020, the agency said. Falling energy prices were the largest contributor.Core CPI, excluding volatile food and energy, was unchanged in June, down from a monthly rise of 0.2% in May and under expectations for a rise of 0.2%.Lower inflation is easing worries the Federal Reserve will need to raise interest rates to calm rising prices, however oil surged again since the U.S. and Iran renewed fighting on the weekend."Gold briefly fell below USD 4,000 on Monday as surging oil prices reignited inflation and rate hike concerns," Saxo Bank wrote. "However, it subsequently rebounded above that level as the dollar and Treasury yields failed to strengthen further despite the latest geopolitical developments, potentially signalling the first break in the recent market reaction function linking higher oil prices with weaker precious metals."The dollar was lower following the inflation data, with the ICE dollar index last seen down 0.3 points to 100.94. Treasury yields were lower, with the yield on the US two-year note last seen down 8,2 basis points to 4.214%, while the 10-year note was paying 4.586%, down 3.4 points

$GCQ6$GLD

Sectors29d ago

Sector Update: Healthcare Stocks Fall Tuesday Afternoon

Healthcare stocks were lower Tuesday afternoon, with the NYSE Healthcare Index down 1.6% and the State Street Health Care Select Sector SPDR ETF (XLV) falling 1.8%.The iShares Biotechnology ETF (IBB) was fractionally lower.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 past 11%.HCA Healthcare (HCA) shares dropped 7.3% after the company lowered its 2026 adjusted diluted EPS guidance. Stephens cut the company's price target to $480 from $500, while keeping its overweight rating.NextCure (NXTC) will merge with privately held Avere Therapeutics in an all-stock deal to advance Avere's lead oral IL-23 therapy, AVR-001, for inflammatory diseases, the company said. NextCure shares surged 200%.

$CTEV$HCA$NXTC

Sectors29d ago

Sector Update: Consumer Stocks Decline Tuesday Afternoon

Consumer stocks were lower Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.2%.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, 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%.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%.TaskUs (TASK) shares climbed 4.4% after investment management firm Dalton Investments disclosed in a regulatory filing that it owned around 2.1 million shares in the company, or about 5.8% of the outstanding shares.

$TASK$TRI$UBER

Sectors29d ago

Sector Update: Financial Stocks Advance in Afternoon Trading

Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.4%.The Philadelphia Housing Index was up 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.6%.Bitcoin (BTC-USD) was gaining 3.8% to $64,643, 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, Goldman Sachs' (GS) Q2 results topped Wall Street's estimates as a record performance in the global banking and markets business propelled its revenue growth. Goldman shares jumped past 7%.JPMorgan Chase (JPM) reported Q2 results above market expectations on Tuesday, driven by higher investment banking fees and markets revenue. Its shares rose 1.9%.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 1.7%.

$BAC$GS$JPM

Sectors29d ago

Sector Update: Tech Stocks Rise Tuesday Afternoon

Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2%. The Philadelphia Semiconductor index climbed up 2.9%.In sector news, DeepSeek has started preparing for its initial public offering in China, targeting a filing by year-end or early 2027, Bloomberg reported.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 rose 3.9%, and AMD added 4.3%.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 5%.IBM (IBM) shares tumbled 24% after its preliminary Q2 results fell short of Wall Street's expectations, with Chief Executive Arvind Krishna calling the performance "disappointing."

$AMD$CLSK$IBM$NVDA

Sectors29d ago

Sector Update: Energy

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index easing 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.3%.The Philadelphia Oil Service Sector Index was shedding 0.3%, and the Dow Jones US Utilities Index decreased 0.2%.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 1.2% to $79.08 a barrel, and the global benchmark Brent crude contract gained 1.7% to $84.69 a barrel. Henry Hub natural gas futures was slightly higher at $2.90 per 1 million BTU.In corporate news, 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%.

$SHEL

Sectors29d ago

Sector Update: Healthcare

Healthcare stocks were lower Tuesday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each falling 1.8%.The iShares Biotechnology ETF (IBB) was fractionally lower.In corporate news, HCA Healthcare (HCA) shares fell nearly 8% after the company lowered its 2026 adjusted diluted EPS guidance. Stephens cut the company's price target to $480 from $500, while keeping its overweight rating.

$HCA

Sectors29d ago

Sector Update: Consumer

Consumer stocks were lower Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.3%.In corporate news, 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

Sectors29d ago

Sector Update: Financial

$JPM

Sectors29d ago

Sector Update: Tech

Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2%.The Philadelphia Semiconductor index climbed 2.9%.In corporate news, IBM (IBM) shares tumbled 24% after the company's preliminary Q2 results fell short of Wall Street's expectations, with Chief Executive Arvind Krishna calling the performance "disappointing."

$IBM

Sectors30d ago

Trump Replacing 20% Hormuz Guardianship Fee With Trade and Investment Deals With Gulf Nations

President Donald Trump said Tuesday on Truth Social he is replacing the 20% reimbursement fee he planned to implement for US guardianship of the Strait of Hormuz for trade and investment deals with countries around the Persian Gulf."Those Investments will be MASSIVE but, at the same time, extraordinarily good for them, and their future," Trump said.

Sectors30d ago

Trump Replacing 20% Hormuz Guardianship Fee With Trade and Investment Deals With Gulf Nations

Sectors30d ago

Sector Update: Energy Stocks Edge Higher Pre-Bell Tuesday

Energy stocks were edging higher pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.7%.The United States Oil Fund (USO) was up 2.9% and the United States Natural Gas Fund (UNG) was 0.1% higher.Front-month US West Texas Intermediate crude oil was 3.5% higher at $80.85 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 4.3% to $86.91 per barrel, and natural gas futures were down 1.3% at $2.86 per 1 million British Thermal Units.BP (BP) said its Q2 results are expected to include post-tax adjusting items relating to impairments of around $1 billion. BP shares were up more than 1% premarket.Shell (SHEL) will receive a production-linked tax credit from Nigeria for its Bonga Southwest Aparo deepwater project, Bloomberg reported, citing people familiar with the matter. Shares of Shell were nearly 1% higher pre-bell.Ranger Energy Services (RNGR) shares were up more than 1% after the company said it has entered into a contract with Hess, a wholly owned subsidiary of Chevron (CVX), to deploy three additional ECHO hybrid workover rigs.

$BP$CVX$RNGR$SHEL$UNG$USO$XLE

Sectors30d ago

Natural Gas Trading at a Two-Month Low as Forecasts Expect Mild Weather for Big Northern Markets

Natural gas traded at a two-month low early on Tuesday, falling for a fifth straight session as long-term forecasts show cooler weather on the way for big northern markets.Gas for August delivery was last seen down $0.03 to $2.87 per million British thermal units, the lowest since May 12.The drop comes as the long-term forecast from the National Weather Service expects temperatures in the big markets of the upper Midwest and Northeast to be seasonal or cooler over its six to 10-day outlook, cutting into cooling demand.Supply remains robust. In its weekly survey Thursday, the Energy Information Administration said stock of the fuel in the prior week rose by 61 billion cubic feet, above expectations on forecaster NatGasWeather for a rise 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.

$NGQ6$UNG

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