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Sector Update: Healthcare Stocks Mixed Premarket Thursday

Healthcare stocks were mixed premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.2% higher and the iShares Biotechnology ETF (IBB) declining by 0.1%.Aveanna Healthcare (AVAH) stock was up more than 9% after the company reported higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 revenue guidance.Biogen (BIIB) shares were up more than 1% after the company said a phase 2 study evaluating diranersen in patients with early Alzheimer's disease did not meet its primary endpoint evaluating dose response for change from baseline on the Clinical Dementia Rating-Sum of Boxes at week 76.MeiraGTx (MGTX) stock was down 1% after the company posted a wider Q1 adjusted loss as revenue fell during the period.

$AVAH$BIIB$IBB$MGTX$XLV

Sectors42d ago

Gold Edges Higher as Treasury Yields Ease Following U.S. Retail Sales Data

Gold edged higher early Thursday as treasury yields eased after a report showed U.S. retail-sales growth slowed in April.Gold for June delivery was last seen up $4.00 to US$4,710.70.The U.S. Census Bureau reported retail sales roes by 0.5% last month, down from a revised 1.6% in March but matching expectations according to Marketwatch.The report follows on day-prior data showing wholesale prices rose by the most in four years with oil prices surging amid the war on Iran, raising concerns the Federal Reserve will need to raise interest rates to slow inflation caused by higher oil prices.The threat of higher interest rates has kept gold rangebound, with the metal trading in a tight range for the past six weeks.Treasury yields fell following the sales data, bullish for gold since it pays no interest. The yield on the U.S. two-year note was last seen down 2.3 basis points to 3.969%, while the 10-year note was paying 4.443%, down 2.6 points. The dollar edged higher, with the ICE dollar index last seen up 0.5 points to 98.58.

$GCM6$GLD

Sectors42d ago

Sector Update: Consumer Stocks Steady Premarket Thursday

Consumer stocks were steady premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) slightly higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) inactive.Viking Holdings (VIK) shares were up more than 6% after the company posted a narrower Q1 adjusted loss as revenue rose during the period.Dillard's (DDS) stock was up more than 6% after the company reported higher fiscal Q1 earnings and net sales.Yeti (YETI) shares were up more than 9% after the company reported fiscal Q1 adjusted net income and net sales that topped analysts' expectations, and raised its fiscal 2026 adjusted EPS outlook.

$DDS$VIK$XLP$XLY$YETI

Sectors42d ago

Sector Update: Tech Stocks Mixed Premarket Thursday

Technology stocks were mixed premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.4% lower.Cisco Systems (CSCO) stock was up more than 15% after the company posted higher fiscal Q3 earnings and revenue that also topped market expectations, and raised its fiscal 2026 guidance.Intel (INTC) has signed a multiyear partnership with McLaren Racing to become the official compute partner across its Formula 1, IndyCar and sim racing teams, the chipmaker said. Intel shares were down more than 4% pre-bell.United Microelectronics (UMC) shares were up more than 8% after the company launched its 14nm FinFET technology platform for display driver ICs.

$CSCO$INTC$UMC$XLK$XSD

Sectors42d ago

Sector Update: Energy

Energy stocks were edging higher pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.1%.The United States Oil Fund (USO) was down 0.9% and the United States Natural Gas Fund (UNG) was 1% lower.Front-month US West Texas Intermediate crude oil was 0.4% lower at $100.65 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.6% to $105.03 per barrel, and natural gas futures were down 0.9% at $2.84 per 1 million British Thermal Units.Kodiak Gas Services (KGS) shares were down more than 4% after the company priced an underwritten public offering of 10.6 million shares at $71 per share.

$KGS

Sectors42d ago

Sector Update: Financial

Financial stocks were advancing pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) up 0.5%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1.4% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.1%.Brookfield (BN) stock was up more than 1% after the company reported higher Q1 distributable earnings and revenue.

$BN

Sectors42d ago

Sector Update: Healthcare

Healthcare stocks were mixed premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.1% higher and the iShares Biotechnology ETF (IBB) marginally declining.Aveanna Healthcare (AVAH) stock was up nearly 8% after the company reported higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 revenue guidance.

$AVAH

Sectors42d ago

Sector Update: Consumer

Consumer stocks were steady premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and State Street Consumer Discretionary Select Sector SPDR ETF (XLY) inactive.Viking Holdings (VIK) shares were up more than 6% after the company posted a narrower Q1 adjusted loss as revenue rose during the period.

$VIK

Sectors42d ago

Sector Update: Tech

Technology stocks were edging higher premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.1% higher.Cisco Systems (CSCO) stock was up more than 14% after the company posted higher fiscal Q3 earnings and revenue that also topped market expectations, and raised its fiscal 2026 guidance.

$CSCO

Sectors42d ago

Oil Trading Lower After Reports Iran is Allowing Chinese Ships to Move Through the Strait of Hormuz

Oil moved lower early on Thursday following reports Iran is allowing Chinese ships to transit the Strait of Hormuz.West Texas Intermediate crude oil for June delivery was last seen down US$1.48 to US$99.54 per barrel, while July Brent oil was down US$1.68 to US$103.95.The drop followed a Reuters report, citing Iranian state media, that Iran is allowing Chinese ships to move through the blocked Strait of Hormuz, and have allowed 30 vessels to move through the Strait "in recent hours".Iran closed the Strait to most traffic at the Feb. 28 start to the war launched by the United States and Israel, stranding hundreds of ships in the Persian Gulf and blocking 20% of daily oil demand supply by regional nations.The blockade of the Strait has pushed oil prices up by half since the start of the war. leaving Asian nations scrambling for physical supply and boosting inflation, raising concerns central banks will need to raise interest rates to cut demand. The United States this week reported wholesale and consumer prices surged last month, heightening concerns of higher rates, though the CME FedWatch Tool sees a 97.5% probability the Federal Reserve will leave rates unchanged during the June 17 meeting of its policy committee.Iran's control of the Strait is a key focus of the summit meeting underway between Chinese President Xi Jinping and U.S. President Trump in Beijing. The Wall Street Journal reported the pair agreed the Strait should remain an international waterway and Iran should not be allowed to extract payments from ships passing through the Strait.

$CLM6$LCON6$USO

Sectors42d ago

Markets Are "Unimpressed" by The U.S.-China Summit so far, Says Scotiabank

So far on Thursday, markets have thin gruel to trade on by way of anything substantive out of the United States-China talks during President Donald Trump's visit to China, said Scotiabank.That may change on the path to the second meeting between President Xi Jinping and Trump later on Thursday, following the day's earlier state banquet, noted the bank.Yet so far, it's almost as if the U.S. side is pumping up simply worded positive rhetoric while China generally resists and warns the U.S. about Taiwan. The impression of Scotiabank's economist is that the optics are more about China asserting control.Expectations were pretty low going into the trip, as Trump is the eleventh foreign leader to travel to China this year while Xi stays home. China's power and stature are rising on the world stage, pointed out the bank.The timing of any statement and other announcements is uncertain. All markets have to go by is talk -- no announcements -- on potential around a 'Board of Investment' and a 'Board of Trade' that could open up more room for China to invest and trade with the U.S., while Xi loosely pledged to open up China a little more to U.S. businesses, added Scotiabank.There is also general talk of China buying more U.S. agricultural products and planes and the U.S. seeking to sell more oil to China, in which case it should get in line. These sound like small one-offs against any grand bargain that wasn't expected in any event, according to the bank.What markets would be interested in seeing would be any substantive progress toward meaningfully reducing tariffs, said Scotiabank. Advance rumors suggested reducing tariffs on about 10% of U.S. imports from China, but the details are unknown.As such, markets are generally little changed early Thursday. Stocks have a small positive bias. So do bond prices. Oil is little changed, just like major currencies.

$CXY

Sectors42d ago

Crude Oil Prices Rise as Market Awaits Outcome of U.S.-China Talks

Crude oil prices edged higher on Thursday as the market awaits the outcome of the meeting between U.S. President Donald Trump and Chinese President Xi Jinping.Brent crude at last look gained 0.7% to US$106.41/barrel and West Texas Intermediate crude rose 0.5% to $101.55/barrel. The market is waiting for positive results on the U.S.-Israeli war on Iran from the U.S.-China talks, Reuters said in a Thursday report, citing analysts."Failure to make meaningful progress on reopening the strait could leave the U.S. with few options other than renewed military action," Reuters quoted IG analyst Tony Sycamore as saying in a note.This comes as Iran appears to have tightened its control over the Strait of Hormuz, cutting deals with Iraq and Pakistan to ship oil and liquefied natural gas from the Middle East, the report said.Meanwhile, U.S. crude inventories declined by 4.3 million barrels to 452.9 million barrels in the week ended May 8 on rising exports, the U.S. Energy Information Administration reported on Wednesday.

$CLX1$LCOX1$USO

Sectors43d ago

Sector Update: Financial Stocks Fall Wednesday

Financial stocks fell Wednesday with the NYSE Financial Index dropping 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 1.1%.The Philadelphia Housing Index declined 1.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) lost 0.8%.Bitcoin (BTC-USD) fell 1.2% to $79,517, and the yield for 10-year US Treasuries rose 1.8 basis points to 4.48%.In economic news, the US producer price index for April rose 1.4%, the fastest pace in four years, after a 0.7% gain in March, according to the Bureau of Labor Statistics. The increase topped the 0.5% gain expected in a Bloomberg poll.In corporate news, Two Harbors Investment (TWO) said its board rejected a revised unsolicited takeover proposal from UWM (UWMC), saying the bid was inferior to its existing merger agreement with CrossCountry Mortgage. Two Harbors shares fell 1.1%, and UWM dropped 4.3%.Wells Fargo (WFC) shares fell 2.2%. The company is marketing investment-grade bonds in as many as three parts, with maturities between three and six years, Bloomberg reported.Blackstone (BX) has withdrawn from talks for a proposed $4 billion deal involving New World Development after negotiations broke down over control of the company, Bloomberg reported. Blackstone shares fell 2.3%.JPMorgan Chase (JPM) reshuffled leadership in its investment-banking unit amid a rebound in global dealmaking activity, according to media reports. JPMorgan shares fell 1.5%.

$BX$JPM$TWO$UWMC$WFC

Sectors43d ago

Sector Update: Energy Stocks Decline Late Afternoon

Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index decreasing 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) fractionally lower.The Philadelphia Oil Service Sector Index was down 0.5%, and the Dow Jones US Utilities Index was falling 1.1%.Front-month West Texas Intermediate crude oil declined 1% to $101.12 a barrel, and the global benchmark Brent crude contract dropped 1.8% to $105.81 a barrel. Henry Hub natural gas futures rose 0.5% to $2.86 per 1 million BTU.In sector news, the International Energy Agency on Wednesday forecast a sharper decline in global oil demand this year than previously expected as the Middle East conflict drives up energy prices. The agency anticipates oil consumption to contract by 420,000 barrels a day in 2026, compared with an 80,000-barrel drop expected last month. Oil demand is projected to plunge by 2.45 million barrels per day in the second quarter.Separately, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 12.9 million barrels in the week ended May 8 following a decrease of 7.5 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks decreased by 4.3 million barrels after a 2.3-million-barrel decline in the previous week, more than the 2.0-million-barrel decrease expected in a survey compiled by Bloomberg.In corporate news, BP (BP) has stopped contract discussions with the US steelworkers' union after the lockout of over 800 employees at its Whiting, Indiana, facility, Reuters reported, citing a statement from the union. BP shares were down 0.5%.Fervo Energy (FRVO) stock surged 34% in Wednesday trading following its Nasdaq debut.Ring Energy (REI) shares dropped 27% after the company overnight said it priced a public offering of about 44.4 million common shares at $1.35 apiece, targeting $60 million in gross proceeds.Enphase Energy (ENPH) shares jumped past 13% after the company said it opened US pre-orders for its new IQ9S-3P Commercial Microinverter.

$BP$ENPH$FRVO$REI

Sectors43d ago

Sector Update: Healthcare Stocks Higher Late Afternoon

Healthcare stocks rose late Wednesday afternoon, with the NYSE Healthcare Index adding 0.9% and the State Street Healthcare Select Sector SPDR ETF (XLV) increasing 0.7%.The iShares Biotechnology ETF (IBB) rose 0.3%.In corporate news, Corcept Therapeutics (CORT) shares rose past 11% after UBS Securities upgraded the stock to buy from neutral and raised its price target to $72 per share from $44.Ironwood Pharmaceuticals (IRWD) fell 10% after the company said Gregory Martini is resigning from his role as chief financial officer, effective May 15.Personalis (PSNL) shares jumped 6% after the firm said the Molecular Diagnostic Services Program of the Centers for Medicare & Medicaid Services has expanded coverage for its NeXT Personal minimal residual disease test.Assertio (ASRT) shares rose 3.4% after the company said Wednesday it has agreed to be acquired by Zydus Lifesciences subsidiary Zydus Worldwide DMCC in an all-cash tender offer valued at about $166.4 million.

$ASRT$CORT$IRWD$PSNL

Sectors43d ago

Sector Update: Consumer Stocks Advance Late Afternoon

Consumer stocks were higher late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 0.5%.In corporate news, Ford Motor (F) shares jumped past 14% after Morgan Stanley said the company had a "fairly high likelihood" of signing energy-storage solutions supply agreements with large commercial customers, including hyperscalers, in the next few months.Stellantis (STLA) shares gained 2.6% after Bloomberg reported Wednesday that the company and other carmakers are in talks with BYD over potential agreements involving underused manufacturing plants in Europe.Walmart (WMT) will fire or relocate about 1,000 corporate workers, The Wall Street Journal reported, citing people familiar with the matter and a memo sent to staff it viewed. Walmart shares were up 0.8%.Vivid Seats (SEAT) could benefit from World Cup ticket sales in June, BofA Securities said in a note. BofA raised the company's price target to $8.70 from $7.25 and kept its neutral rating. Vivid shares jumped past 7%.

$F$SEAT$STLA$WMT

Sectors43d ago

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.2% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 2.9%.The Philadelphia Semiconductor index added 2.9%.In corporate news, Apple (AAPL) is exploring avenues to better integrate AI agents into its App Store, The Information reported. Apple shares rose 1.6%.Wolfspeed (WOLF) shares surged past 18% after Citrini Research reportedly highlighted the company's position in the AI space.Nvidia (NVDA) Chief Executive Jensen Huang joined President Donald Trump on his visit to Beijing, a last-minute addition that has raised expectations of progress in stalled talks over the company's H200 AI chip sales to China, Reuters reported. Nvidia shares gained 2.5%.Amazon-backed (AMZN) Anthropic is in early discussions with investors to raise at least $30 billion in new funding at a valuation exceeding $900 billion, Bloomberg reported. Amazon shares rose 1.8%.

$AAPL$AMZN$NVDA$WOLF

Sectors43d ago

Sector Update: Financial

Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.9%.The Philadelphia Housing Index was falling 1.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.8%.Bitcoin (BTC-USD) was declining 1.2% to $79,517, and the yield for 10-year US Treasuries rose 1.8 basis points to 4.48%.In corporate news, Two Harbors Investment (TWO) said Wednesday its board rejected a revised unsolicited takeover proposal from UWM (UWMC), saying that it is inferior to its existing merger agreement with CrossCountry Mortgage. Two Harbors shares fell 1%, and UWM dropped 3.9%.

$TWO$UWMC

Sectors43d ago

Sector Update: Energy

$ENPH

Sectors43d ago

Sector Update: Consumer

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Sectors43d ago

Sector Update: Energy Stocks Decline Late Afternoon

$BP$ENPH$FRVO$REI