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Sector Update: Consumer

Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) easing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 0.7%.In corporate news, Stellantis (STLA) shares added 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.

$STLA

Sectors43d ago

Sector Update: Tech

Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.9% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 3.2%.The Philadelphia Semiconductor index added 2.5%.In corporate news, 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 2.9%.

$NVDA

Sectors43d ago

US Total Crude Oil Stocks Fell in Week Ended May 8

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.Stocks in the SPR fell by 8.6 million in the week after falling by 5.2 million in the previous week.Overall crude oil stocks were down 1.5% from the previous week and down 0.5% from a year earlier. Crude oil inventories are about 0.3% below the five-year average for this time of the year.Gasoline stocks declined by 4.1 million barrels, a larger drop than the 3.0-million-barrel decrease expected. Gasoline stocks were down 1.9% from the previous week and down 4.0% from a year earlier.Distillate stocks rose by 200,000 barrels in the current week, compared with an expected decrease of 2.7 million barrels. Distillate stocks were up 0.2% from the previous week but were 1% lower than in the same week a year ago.Refineries operated at 91.7% of their capacity, up from 90.1% in the previous week.

Sectors43d ago

Natural Gas Rises as Forecasts See Hotter Weather Coming for Most Markets

Natural gas traded higher early Wednesday as warm long-term forecasts offer a likely boost to cooling demand. Gas for June delivery was last seen up $0.07 to US$2.91 per million British thermal units.The National Weather Service's six to 14-day forecast see most states with warmer than seasonal temperatures, with the hottest weather expected for big eastern markets, raising the call on gas-fired generation to power air conditioners, while its longer-term outlook sees hot weather likely to persist for the next month."The long-range weather data continues to forecast a rather hot US pattern for much of June as highs of upper 80s to 100s gains in coverage across the central and southern US, while very nice to warm across the northern US w/highs of 60s-80s, locally 90s for stronger than normal CDDs/cooling demand.

$NGM6$UNG

Sectors43d ago

Gold Steady As USD Rises After U.S. Wholesale Inflation Surged Last Month

Gold was steady early Wednesday even as the dollar rose after a report showed U.S. wholesale inflation surged in April.Gold for June delivery was last seen up $2.50 to US$4,689.20 per ounce.The U.S. Bureau of Labor Statistics reported the Producer Price Index (PPI) rose at a 1.4% monthly pace from March, up from 0.7% a month earlier and well ahead of the consensus expectation for a rise of 0.5%, according to Marketwatch. On an annualized basis, PPI was up 6.0% in April, up from 4.3% a month earlier. Core PPI, excluding volatile food and energy, rose 4.4% annualized, up from 3.7% in March."The April increase is the largest advance since rising 1.7 percent in March 2022. On an unadjusted basis, the index for final demand rose 6.0 percent for the 12 months ended in April, the largest 12-month increase since moving up 6.4 percent in December 2022," the bureau noted.The report comes a day after the bureau reported the Consumer Price Index rose 3.8% year over year in April, up from 3.3% in March.Inflation has surged since the war on Iran pushed up oil prices by more than half, raising worries central banks will raise interest rates to slow rising prices, bearish for gold since it pays no interest."At the last Fed decision, three members dissented against the bank's decision to maintain its "easing bias", and the question is whether more rate setters will join that group at the next rate decision if energy prices remain high," Gustav Helgesson, Macro Strategist at SEB Research, wrote.The dollar was higher early, with the ICE dollar index last seen up 0.26 points to 98.55. Treasury yields were also higher, with the yield on the U.S. two-year note up 0.6 basis points to 4.004%, while the 10-year note was up 1.0 points to 4.48%.

$GCM6$GLD

Sectors43d ago

Sector Update: Energy Stocks Decline Premarket Wednesday

Energy stocks were declining premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.2% lower.The United States Oil Fund (USO) was down 0.4% and The United States Natural Gas Fund (UNG) was 2.6% higher.Front-month US West Texas Intermediate crude oil was slightly lower at $102.15 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 0.3% to $107.44 per barrel, and natural gas futures were up 2.5% at $2.92 per 1 million British Thermal Units.FLEX LNG (FLNG) shares were more than 1% higher after the company raised its 2026 revenue guidance.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 0.4% lower pre-bell.Ring Energy (REI) stock was down more than 23% after the company priced a public offering of about 44.4 million common shares at $1.35 apiece, targeting $60 million in gross proceeds.

$BP$FLNG$REI$UNG$USO$XLE

Sectors43d ago

Sector Update: Financial Stocks Fall Pre-Bell Wednesday

Financial stocks were falling pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining 0.5%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1.3% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 1.5%.Aon (AON) expanded its Aon Claims Copilot platform globally, now available in North America, Asia Pacific, and several countries in Europe, Middle East, and Africa, the company said. Shares of Aon were 0.7% lower premarket.Sumitomo Mitsui Financial Group (SMFG) shares were up nearly 2% after the company reported higher fiscal 2026 earnings and ordinary income.Blackstone (BX) has withdrawn from talks for a proposed $4 billion transaction involving New World Development after negotiations broke down over control of the company, Bloomberg News reported, citing people familiar with the matter. Blackstone shares were marginally advancing premarket.

$AON$BX$FAS$FAZ$SMFG$XLF

Sectors43d ago

Sector Update: Healthcare Stocks Lean Lower Pre-Bell Wednesday

Healthcare stocks were leaning lower pre-bell Wednesday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.2% and the iShares Biotechnology ETF (IBB) declining by 0.5%.National Vision Holdings (EYE) stock was down more than 11% after the company reported fiscal Q1 revenue that missed analysts' estimates.Alto Neuroscience (ANRO) shares were down more than 3% after the company posted a wider Q1 net loss.Personalis (PSNL) said the Molecular Diagnostic Services Program of the Centers for Medicare & Medicaid Services has expanded coverage for the firm's NeXT Personal minimal residual disease test. Personalis stock was up more than 14% premarket.

$ANRO$EYE$IBB$PSNL$XLV

Sectors43d ago

Sector Update: Consumer Stocks Decline Premarket Wednesday

Consumer stocks were declining premarket Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.1% lower.Alibaba (BABA) shares were down more than 2% after the company reported fiscal Q4 adjusted earnings and revenue that missed analysts' expectations, with adjusted earnings declining year on year.Birkenstock (BIRK) stock was down more than 6% after the company reported fiscal Q2 adjusted earnings and revenue that missed analysts' estimates.Global-e Online (GLBE) shares were up 4.7% after the company posted higher Q1 non-GAAP earnings and revenue, and raised its 2026 revenue outlook.

$BABA$BIRK$GLBE$XLP$XLY

Sectors43d ago

Sector Update: Tech Stocks Rise Pre-Bell Wednesday

Technology stocks were rising pre-bell Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) 0.9% higher and the State Street SPDR S&P Semiconductor ETF (XSD) up 2.2%.Nebius Group (NBIS) stock was up more than 16% after the company posted higher Q1 earnings and revenue.Tower Semiconductor (TSEM) shares were up more than 16% after the company said it signed silicon photonics customer contracts representing $1.3 billion in expected 2027 revenue and received $290 million in customer prepayments tied to capacity reservations. Tower Semiconductor also posted higher Q1 adjusted earnings and revenue.Vishay Intertechnology (VSH) stock was up more than 6% after the company reported that it swung to a profit in fiscal Q1 as revenue increased during the period.

$NBIS$TSEM$VSH$XLK$XSD

Sectors43d ago

Sector Update: Energy

Energy stocks were declining premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% lower.The United States Oil Fund (USO) was down 0.5% and the United States Natural Gas Fund (UNG) was 2.7% higher.Front-month US West Texas Intermediate crude oil was 0.3% higher at $102.52 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.1% to $107.86 per barrel, and natural gas futures were up 2.2% at $2.90 per 1 million British Thermal Units.FLEX LNG (FLNG) shares were 0.9% higher after the company raised its 2026 revenue guidance.

$FLNG

Sectors43d ago

Sector Update: Financial

Financial stocks were falling pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.7%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1.8% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 1.7%.Aon (AON) expanded its Aon Claims Copilot platform globally, now available in North America, Asia Pacific, and several countries in Europe, Middle East, and Africa, the company said. Shares of Aon were 0.7% lower premarket.

$AON

Sectors43d ago

Sector Update: Healthcare

Healthcare stocks were leaning lower pre-bell Wednesday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.4% and the iShares Biotechnology ETF (IBB) declining by 0.7%.National Vision Holdings (EYE) stock was down more than 10% after the company reported fiscal Q1 revenue that missed analysts' estimates.

$EYE

Sectors43d ago

Sector Update: Consumer

Consumer stocks were declining premarket Wednesday, 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) 0.1% lower.Alibaba Group Holding (BABA) shares were down more than 2% after the company reported fiscal Q4 adjusted earnings and revenue that missed analysts' expectations, with adjusted earnings declining year on year.

$BABA

Sectors43d ago

Sector Update: Tech

Technology stocks were rising pre-bell Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) 0.8% higher and the State Street SPDR S&P Semiconductor ETF (XSD) up 2.2%.Nebius Group (NBIS) stock was up more than 15% after the company posted higher Q1 earnings and revenue.

$NBIS

Sectors43d ago

Oil Edges Lower Early as the IEA Sees Global Inventories Dropping at a Record Pace

Oil prices edged lower early on Wednesday but are sticking above US$100 as the loss of Persian Gulf supply since the start of the war on Iran cuts into stocks, with the International Energy Agency (IEA) reporting a a record draw down in inventories since the conflict began.West Texas Intermediate crude oil for June delivery was last seen down US$0.37 to US$101.81 per barrel, while July Brent oil was down US$0.10 to US$107.67.Oil prices have climbed by more than half since the United States and Israel launched their war on Iran on Feb. 28. Iran responded by closing the Strait of Hormuz, trapping in 20% of daily oil supply produced by Persian Gulf nations.In its closely watched monthly Oil Market Report, the IEA said the loss of Persian Gulf supply is depleting global inventories at a record pace."With Hormuz tanker traffic still restricted, cumulative supply losses from Gulf producers already exceed 1 billion barrels with more than 14 mb/d of oil now shut in, an unprecedented supply shock," the agency said.The IEA said the supply disruption and high prices will cut into demand, expecting a global demand drop of 420,000 barrels per day this year to 104 million bpd, down 1.3-million bpd from its pre-war forecast.Inventories fell by 129-million bpd in March and by 117-million bpd in April, though rising output from producers outside of the Gulf is helping to ease the supply shock."2026 supply growth expectations from the Americas have been revised up by more than 600 kb/d since the start of the year, to 1.5 mb/d on average. Moreover, Atlantic Basin crude oil exports, now heading primarily to hard-hit East of Suez markets, have increased by 3.5 mb/d since February, with notable gains from the United States, Brazil, Canada, Kazakhstan and Venezuela," the IEA noted.

$CLM6$LCON6$USO

Sectors43d ago

Crude Oil Prices Edge Lower as Market Awaits Middle East Ceasefire Developments

Crude oil prices edged lower on Wednesday as the market waited for developments in the Middle East ceasefire, with the war continuing to drive price movements.Brent crude at last look lost 0.4% to US$107.37/barrel and West Texas Intermediate crude fell 0.7% to $101.51/barrel. The market is also awaiting the result of a summit in Beijing between U.S. President Donald Trump and China's Xi Jinping, Reuters said in a Wednesday report."The market remains highly reactive to every update from the region, meaning sharp swings are likely to persist. Any further escalation or direct threat to supply flows could quickly revive strong upside momentum in both Brent and WTI," Reuters quoted Priyanka Sachdeva, senior market analyst at Phillip Nova, as saying.Meanwhile, the International Energy Agency said global oil supply will not meet total demand this year amid impacts of the war in the Middle East."The latest IEA oil market report just showed the magnitude of the disruption with large oil inventory declines over the last two months," UBS analyst Giovanni Staunovo was quoted as saying.

$CLX1$LCOX1$USO

Sectors43d ago

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Tuesday afternoon with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each adding 0.8%.The Philadelphia Oil Service Sector Index climbed 2.3%, and the Dow Jones US Utilities Index increased 0.3%.Oil prices rose as a faltering ceasefire between the US and Iran kept the Strait of Hormuz closed. Front-month West Texas Intermediate gained 4.3% to $102.28 a barrel, and global benchmark Brent advanced 3.4% to $107.78 a barrel.Henry Hub natural gas futures fell 2.4% to $2.84 per 1 million BTU.In corporate news, TotalEnergies (TTE) and its partners ConocoPhillips (COP) and QatarEnergy signed a memorandum of understanding Tuesday with Syrian Petroleum relating to the exploration of block 3, offshore Syria in the eastern Mediterranean Sea, the company said. TotalEnergies shares rose 1.3%, and ConocoPhillips added 2.2%.Ecopetrol (EC) said Tuesday its President Ricardo Roa has been charged with alleged violations of spending limits related to the country's 2022 presidential campaign following a probe by Colombia's General Prosecutor's Office. Ecopetrol shares were up 2.7%.Targa Resources (TRGP) is positioned for growth into 2026 and beyond, supported by strong Permian volume growth and potential upside from commodity price tailwinds, RBC Capital Markets said. Targa shares gained 1.1%.Eni (E) asked Morgan Stanley (MS) to help it raise funds from investors, including Apollo (APO), KKR (KKR), and Stonepeak, in a potential deal backed by its floating liquefied natural gas assets, Reuters reported. Eni shares rose 0.6%.

$COP$E$EC$TRGP$TTE

Sectors43d ago

Sector Update: Healthcare Stocks Advance Late Afternoon

Healthcare stocks advanced late Tuesday afternoon, with the NYSE Healthcare Index and the State Street Healthcare Select Sector SPDR ETF (XLV) each rising about 2%.The iShares Biotechnology ETF (IBB) increased 1.2%.In sector news, President Donald Trump said Tuesday that US Food and Drug Administration Commissioner Marty Makary is resigning, Bloomberg reported.In corporate news, West Pharmaceutical Services (WST) shares were down 3% after the company said in a regulatory filing its global operations were disrupted by a cyberattack.Alkermes (ALKS) shares jumped past 7% after the firm said Tuesday a late-stage trial of Lumryz oral suspension in adults with idiopathic hypersomnia, a rare condition in which patients require excessive sleep, met all primary and secondary targets.Sonida Senior Living's (SNDA) recent stock decline was unwarranted given the broad-based strength in its Q1 results, RBC said in a note. RBC kept its outperform rating and raised its price target to $45 from $39. Shares eased 0.2%.Dr. Reddy's Laboratories (RDY) plans to launch a generic version of Novo Nordisk's (NVO) Ozempic this month in Canada, Bloomberg reported Tuesday, citing Chief Executive Erez Israeli. Dr. Reddy's shares fell 5.3%, and Novo rose 1.1%.

$ALKS$NVO$RDY$SNDA$WST

Sectors43d ago

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Tuesday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.2%.In sector news, Redbook US same-store sales last week rose 9.6% from a year earlier after a 7.8% increase in the previous week. Redbook cited higher sales of seasonal products including clothing, footwear and outdoor goods due to warmer temperatures and graduation sales.In corporate news, Under Armour (UAA) issued weaker-than-expected full-year guidance after the sportswear maker's fiscal Q4 adjusted loss narrowed less than analysts anticipated. The shares fell 18%.EBay (EBAY) rejected video game retailer GameStop's (GME) proposal to acquire the e-commerce company in what would have been a $55.5 billion deal. GameStop shares fell 3.2%, and eBay rose 2.3%.Wendy's (WEN) shares surged 17% after the Financial Times reported the company faces a potential take-private bid from Trian Fund Management.Sea (SE) reported Q1 revenue above market estimates as the Shopee parent saw growth across all core business segments. The shares climbed 13%.

$EBAY$GME$SE$UAA$WEN

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