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Natural Gas Rises as Forecast Expect a Hot Start to June

Natural gas prices rose early Tuesday as long-term forecasts warm.Gas for June delivery was last seen up $0.04 to US$2.94 per million British thermal units.The rise comes as long-term forecasts from the National Weather Service expect hotter than seasonal temperatures for most states other than the Southeast over its six to 10 day outlook, keeping cooling demand high.Still, high inventories of the fuel are weighing on prices, with the Energy Information Administration last week reporting gas stocks stood at 6.6% above the five-year average, keeping prices rangebound."Storage levels are adding to the bearish sentiment as LNG export terminals remain in maintenance allowing us to inject a little extra and hold a surprise surplus to both last year and the 5 year average levels for this time of year," Gary Cunningham, Director of Market Research at Tradition Energy, wrote.

$NGM6$UNG

Sectors30d ago

Sector Update: Financial Stocks Edge Higher Premarket Tuesday

Financial stocks were edging higher premarket Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) up 0.3%.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.1% lower.FinVolution (FINV) shares were up more than 5% after the company reported Q1 adjusted earnings and net revenue that exceeded analysts' expectations.Robinhood Markets (HOOD) has received Canadian Investment Regulatory Organization approval to acquire WonderFi Technologies under a statutory plan of arrangement, WonderFi said. Robinhood Markets stock was up more than 1% pre-bell.Mitsubishi UFJ Financial (MUFG) is exploring options for its majority stake in PT Bank Danamon Indonesia, Bloomberg reported, citing people with knowledge of the matter. Mitsubishi UFJ Financial shares were 0.1% higher premarket.

$FAS$FAZ$FINV$HOOD$MUFG$XLF

Sectors30d ago

Sector Update: Healthcare Stocks Advance Premarket Tuesday

Healthcare stocks were advancing premarket Tuesday, with the iShares Biotechnology ETF (IBB) 0.4% higher and the State Street Health Care Select Sector SPDR ETF (XLV) up 0.2%.Eli Lilly (LLY) has agreed to acquire Curevo, LimmaTech Biologics, and Vaccine Company in deals worth up to nearly $3.83 billion in total, expanding its presence in infectious disease prevention, the company said. Shares of Eli Lilly were up more than 1% pre-bell.Natera (NTRA) stock was up more than 2% after the company said it has upgraded its Panorama non-invasive prenatal test using SNP-informed deep sequencing to improve accuracy in samples with low fetal fraction.Jade Biosciences (JBIO) has dosed the first participant in its phase 2 trial of experimental therapy, JADE101, for immunoglobulin A nephropathy, or IgAN, the drugmaker said. Shares of Jade Biosciences were up more than 5% premarket.

$IBB$JBIO$LLY$NTRA$XLV

Sectors30d ago

Sector Update: Consumer Stocks Edge Higher Premarket Tuesday

Consumer stocks were edging higher premarket Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) inactive and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.5%.AutoZone (AZO) shares were down more than 5% even after the company posted higher fiscal Q3 net income and net sales.Starbucks' (SBUX) Korean unit has suffered a "very significant" drop in sales following a controversial marketing campaign, Reuters and other media outlets reported. Starbucks shares were marginally advancing premarket.Miniso (MNSO) stock was 0.2% lower after the company reported a decline in Q1 adjusted earnings.

$AZO$MNSO$SBUX$XLP$XLY

Sectors30d ago

Sector Update: Tech Stocks Rise Premarket Tuesday

Technology stocks were rising premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) up 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 3.7%.Pony AI (PONY) stock was up 20% after the company raised its 2026 Robotaxi revenue target to more than 3.5 times 2025 levels from a previous target of 3 times, and its year-end Robotaxi fleet size target to more than 3,500 units from 3,000 units.Ouster (OUST) will equip ARGUS Interception's A1-Falke net-based interceptors with its digital sensors, the companies said. Ouster shares were up more than 9% pre-bell.Ituran Location and Control (ITRN) shares were up more than 4% after the company posted higher Q1 earnings and revenue.

$ITRN$OUST$PONY$XLK$XSD

Sectors30d ago

Sector Update: Energy

Energy stocks were declining premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.1% lower.The United States Oil Fund (USO) was down 3.7% and the United States Natural Gas Fund (UNG) was 1% higher.Front-month US West Texas Intermediate crude oil was 3.8% lower at $92.97 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 3.1% to $99.16 per barrel, and natural gas futures were up 1.8% at $2.96 per 1 million British Thermal Units.BP (BP) stock was down more than 4% after the company said its board unanimously decided to remove Albert Manifold as chair and director, effective immediately.

$BP

Sectors30d ago

Gold Edges Lower Amid Uncertainty Around Progress of Peace Talks In the Middle East

Gold edged lower early Tuesday even as the U.S. dollar and yields fell as fresh U.S. strikes on Iran heightened concerns over the progress of peace talks between the two countries.Gold for July delivery was last seen down $14.00 to US$4,542.40 per ounce.While peace talks between Iran and the United States are underway, the United States on Monday launched attacks on what it said were missile-launching sites in Iran.The strikes come as the two countries continue talks to end the three-month war and reopen the Strait, which was the chokepoint for 20% of daily oil demand from Persian Gulf countries. Iran's blockade of the Strait following the Feb. 28 start to the war began the largest-ever oil supply shock and pushed up oil prices by more than half.The rise in inflation that followed the hike in energy prices has pushed up inflation, raising concerns central banks will need to raise interest rates, bearish for precious metals since they pay no interest."Gold and silver continue to take their cues from crude oil because of its influence on inflation expectations, interest-rate outlooks, bond yields, and the dollar. After rallying on Monday alongside the drop in oil prices, both metals trade softer today as renewed US strikes near the Strait reduced optimism surrounding peace negotiations," Saxo Bank noted.The dollar fell early, with the ICE dollar index last seen down 0.13 points to 99.11. Treasury yields also fell, with the yield on the U.S. two-year note was down 7.0 basis points to 4.062%, while the 10-year note was paying 4.49%, down 7.3 points.

$GCN6$GLD

Sectors30d ago

Sector Update: Financial

Financial stocks were advancing premarket Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.4% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.1% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.1% lower.FinVolution (FINV) shares were up more than 5% after the company reported Q1 adjusted earnings and net revenue that exceeded analysts' expectations.

$FINV

Sectors30d ago

Sector Update: Health Care

Health care stocks were flat to higher premarket Tuesday, with the iShares Biotechnology ETF (IBB) inactive and the State Street Health Care Select Sector SPDR ETF (XLV) up 0.3%.Eli Lilly (LLY) has agreed to acquire Curevo, LimmaTech Biologics, and Vaccine Company in deals worth up to nearly $3.83 billion in total, expanding its presence in infectious disease prevention, the company said. Shares of Eli Lilly were up more than 1% pre-bell.

$LLY

Sectors30d ago

Sector Update: Consumer

Consumer stocks were edging higher premarket Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) advancing marginally and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.6%.AutoZone (AZO) shares were down more than 4% even after the company posted higher fiscal Q3 net income and net sales.

$AZO

Sectors30d ago

Sector Update: Tech

Technology stocks were rising premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) up 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 4.1%.Pony AI (PONY) stock was up more than 17% after the company raised its 2026 Robotaxi revenue target to more than 3.5 times 2025 levels from a previous target of 3 times, and its year-end Robotaxi fleet size target to more than 3,500 units from 3,000 units.

$PONY

Sectors30d ago

Oil Prices Mixed Early as U.S. Strikes on Iran Cloud Hopes for Successful Peace Talks

Oil prices were mixed early on Tuesday after the United States carried out strikes on Iran, threatening to derail peace talks between the two countries.West Texas Intermediate crude oil for July delivery was last seen down US$3.85 to US$92.75 per barrel, the lowest since April 21, while July Brent oil was up US$2.90 to US$99.04.While peace talks between Iran and the United States are underway, the United States on Monday launched attacks on what it said were missile-launching sites in Iran.The strikes come as the two countries continue talks to end the three-month war and reopen the Strait, which was the chokepoint for 20% of daily oil demand from Persian Gulf countries. Iran's blockade of the Strait following the Feb. 28 start to the war began the largest-ever oil supply shock and pushed up oil prices by more than half. The U.S. action threatens to prolong the market disruption."Fresh US military strikes in Iran clouded the outlook for an interim agreement between the US and Iran that could help reopen the Strait of Hormuz, a key waterway through which around one-fifth of global oil and LNG flows under normal conditions, and which has remained largely closed since early March. While differences between the parties have narrowed, any eventual peace deal would likely lead only to a gradual reopening, meaning the current tight supply outlook could take months to normalize," Saxo Bank wrote.The Wall Street Journal reported talks between the two countries are continuing in Qatar despite the U.S. action, with Iranian government spokeswoman Fatemeh Mohajerani saying on Tuesday that the indirect talks are likely to continue.

$CLN6$LCON6$USO

Sectors30d ago

INNIO Launches IPO Roadshow with 75 Million Shares Offered

INNIO Group said Tuesday it has launched the roadshow for its initial public offering with 75 million common shares to be offered by the selling shareholder with an estimated IPO price of between $24 and $27 per share.The selling shareholder has granted the underwriters a 30-day option to buy up to an extra 11.25 million common shares at the IPO price, less underwriting discounts and commissions, the global distributed energy solutions provider said.INNIO has applied to list its common shares on the Nasdaq Global Select Market under the ticker symbol, "INIO," the company said.

Sectors30d ago

INNIO Launches IPO Roadshow With 75 Million Shares Offered

Sectors30d ago

Gold Is Impacting Canadian Dollar More Than Oil, Says National Bank

The United States and Iran's announcement that serious discussions are underway to reopen the Strait of Hormuz sent WTI sharply lower to around US$90/barrel on Monday, raising the question if the Canadian dollar (CAD or loonie) -- still widely treated as a petrodollar -- should be under pressure, said National Bank of Canada.The answer is less straightforward than the oil move alone suggests, noted the bank.Canada's exchange rate hasn't been trading like a pure crude proxy in recent months, and Monday's price action reinforces that point, stated National Bank.The rolling correlation between daily moves in the loonie, measured as US dollar (USD) per CAD, and WTI has turned negative in recent months, a clear break from the strongly positive relationship that prevailed during the previous oil shock in 2022, while the correlation with bullion has strengthened sharply and now exceeds even the link with Canada-U.S. two-year yield spreads.That matters because the currency signal is no longer being transmitted mainly through energy, pointed out the bank. If lower oil reflects a fading geopolitical supply premium rather than a deterioration in global demand, the terms-of-trade shock for Canada will be more limited.At the same time, gold's rally is doing more of the heavy lifting for CAD, especially when bullion was up roughly US$50/oz on Monday and markets were still pricing geopolitical uncertainty rather than a clean return to normal, added National Bank.As a consequence, the loonie's resilience isn't a contradiction but a rotation in its commodity anchor. Oil still matters for Canada, but in the current market configuration, gold appears to be the more relevant marginal driver, helping explain why CAD is appreciating even as crude retreats, according to the bank.

$CAD$CXY$USD

Sectors30d ago

Brent Crude Oil Prices Rise Following U.S. Strikes on Iran

The benchmark Brent crude oil price climbed on Tuesday amid uncertainty that a peace deal will be reached between the U.S. and Iran following strikes by the U.S. military.Brent crude at last look gained 3.7% to US$99.70/barrel. There was no West Texas Intermediate settlement on Monday due to the Memorial Day holiday.U.S. forces conducted strikes in southern Iran in signs of renewed tensions and the decreasing likelihood of a reopening of the Strait of Hormuz, Reuters said in a Tuesday report."While differences between the parties have narrowed, any eventual peace deal would likely lead only to a gradual reopening, meaning the current tight supply outlook could take months to normalize," Reuters quoted Ole Hansen at Saxo Bank as saying.

$CLX1$LCOX1$USO

Sectors31d ago

Update: Gold Rises as the USD Weakens While U.S. and Iran Talk to End Their War

(Updates prices.)Gold traded higher midafternoon Monday as the U.S. dollar fell on hopes the United States and Iran are nearing a deal to end the three-month war that has caused the largest-ever energy supply shock.Gold for July delivery was last seen up US$49.60 to US$4,606.00 per ounce in electronic trade, with markets closed for the Memorial Day holidayThe rise comes as the countries continue talks to end the war that has kept the Strait closed for nearly three months, blocking much of the 20% of daily oil demand supplied by Persian Gulf nations. The Wall Street Journal reported Iran is willing to lift its blockade of the Strait in exchange for the United States ending its blockade of Iranian ports, though Iran warned a final deal is not imminent.The price of the precious metal has remained rangebound as investors turn to the dollar on fears central banks will hike interest rates to combat the rising inflation that has followed the war's closure of the Strait of Hormuz, shutting in most of the oil exports from Persian Gulf nations that supplied a fifth of daily oil demand.The dollar fell early, with the ICE dollar index last seen down 0.27 points to 98.97. Treasury markets were closed for the holiday.

$GCN6$GLD

Sectors31d ago

Natural Gas Rises Early Despite Cool Long-Term Forecasts

Natural gas traded higher early Monday in thin holiday trade, with the U.S. markets closed, even as long-term forecasts cool.Gas for June delivery was last seen up $0.04 to US$2.95 per million British thermal units in electronic trade, with markets closed for the Memorial Day holiday.Long-term forecasts from the National Weather Service expect most southern and eastern states to be cooler than seasonal over its six to 10 day outlook, lowering cooling demand.Inventories of the fuel remain robust, with the Energy Information Administration last week reporting stocks stood at 2.39-trillion cubic feet, 6.5% above the five-year average.

$NGM6$UNG

Sectors31d ago

Gold Rises as the USD Weakens While U.S. and Iran Talk to End Their War

Gold traded higher early Monday as the U.S. dollar fell on hopes the United States and Iran are nearing a deal to end the three-month war that has caused the largest-ever energy supply shock.Gold for July delivery was last seen up $45.80 to US$4,602.20 per ounceThe rise comes as the countries continue talks to end the war that has kept the Strait closed for nearly three months, blocking much of the 20% of daily oil demand supplied by Persian Gulf nations. The Wall Street Journal reported Iran is willing to lift its blockade of the Strait in exchange for the United States ending its blockade of Iranian ports, though Iran warned a final deal is not imminent.The price of the precious metal has remained rangebound as investors turn to the dollar on fears central banks will hike interest rates to combat the rising inflation that has followed the war's closure of the Strait of Hormuz, shutting in most of the oil exports from Persian Gulf nations that supplied a fifth of daily oil demand.The dollar fell early, with the ICE dollar index last seen down 0.27 points to 98.97. Treasury markets were closed due to the U.S. Memorial Day holiday.

$GCN6$GLD

Sectors31d ago

Oil Prices Slump as the United States and Iran Continue Peace Talks

Oil traded sharply lower early Monday, falling 6% as peace negotiations between Iran and the Untied States continue, raising hopes for a deal that will reopen the blockaded Strait of Hormuz.West Texas Intermediate crude oil for July delivery was last seen down $5.77 to US$90.83 per barrel, the lowest since April 20, while July Brent oil was down $6.20 to US$97.34.The drop comes as the countries continue talks to end the war that has kept the Strait closed for nearly three months, blocking much of the 20% of daily oil demand supplied by Persian Gulf nations. The Wall Street Journal reported Iran is willing to lift its blockade of the Strait in exchange for the United States ending its blockade of Iranian ports, though Iran warned a final deal is not imminent.The closure of the Strait has boosted oil prices to four-year highs, raising inflation and pressuring U.S. President Trump to come up with a deal to end the war as the high-demand U.S. driving season begins with today's Memorial Day holiday, further squeezing supply."Both Trump and Iran have strong reasons to find a quick way out of the war and crisis, for economic, financial, political and military reasons," SEB Research noted.

$CLN?$LCON6$USO

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