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Gold Drops as Dollar Rises to a 13-Month High After Fed Signaled Higher Interest Rates Could Be Coming

Gold traded lower early Monday as the U.S. dollar climbed to its highest level in more than a year, extending gains after the Federal Reserve signaled it could raise interest rates later this year to curb inflation.Gold for December delivery was last seen down 0.5% to US$4,225.00 per ounce."For now, the yellow metal remains stuck in technical limbo, trading between key support at USD 4,000-4,100 and resistance from the 200-day moving average, currently near USD 4,466," Saxo Bank noted.The dollar edged up early to the highest since May 2025. The ICE dollar index was last seen up 0.05 points to 100.91. Treasury yields were sharply higher, with the U.S. two-year note last yielding 4.228%, up 4.1 basis points, while the 10-year Treasury yield rose 3.8 basis points to 4.498%.

$GCN6$GLD

Sectors51d ago

Treasury Authorizes Production, Delivery, Sale of Iranian Oil, Petro Products

Sectors51d ago

Sector Update: Energy Stocks Decline Premarket Monday

Energy stocks were declining premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% lower.The United States Oil Fund (USO) was down 1.8% and the United States Natural Gas Fund (UNG) was 1.1% higher.Front-month US West Texas Intermediate crude oil was 1.5% lower at $74.72 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 2.1% to $78.85 per barrel, and natural gas futures were up 1.3% at $3.27 per 1 million British Thermal Units.Chevron (CVX) said it has signed a 20-year agreement with Microsoft (MSFT) to supply natural gas-fired power for a planned West Texas data center campus. Chevron shares were up 0.6% pre-bell.Baker Hughes (BKR) and Chart Industries (GTLS) confirmed that they are in talks with the European Commission over "possible commitments" for the Commission's approval of the companies' acquisition transaction, Chart Industries said in a filing. Baker Hughes stock was 0.3% lower premarket.

$BKR$CVX$GTLS$MSFT$UNG$USO$XLE

Sectors51d ago

Sector Update: Financial Stocks Decline Premarket Monday

Financial stocks were declining premarket Monday, with the State Street Financial Select Sector SPDR ETF (XLF) down 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.7% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.8% lower.Robinhood Markets (HOOD) stock was down more than 1% after the company said it plans to offer $2 billion worth of convertible senior notes due 2029 in a private placement.Brookfield (BN) is seeking a loan of 750 million Australian dollars ($525.1 million) to fund a payout to investors of La Trobe Financial and refinance existing debt, Bloomberg reported, citing unnamed people familiar with the matter. Brookfield shares were 1% higher pre-bell.Carlyle Group (CG) is working with its portfolio managers to proactively evaluate and then possibly de-risk assets from weather-related damage, Bloomberg reported. Carlyle Group stock was up more than 3% premarket.

$BN$CG$FAS$FAZ$HOOD$XLF

Sectors51d ago

Sector Update: Healthcare Stocks Flat to Lower Premarket Monday

Healthcare stocks were flat to lower premarket Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.1% and the iShares Biotechnology ETF (IBB) inactive.AbbVie (ABBV) has agreed to acquire Apogee Therapeutics (APGE) for $135.11 per share in cash for a total equity value of $10.9 billion. Shares of Apogee Therapeutics were up nearly 47% pre-bell, while AbbVie rose 2.3%.Definium Therapeutics (DFTX) shares were up more than 60% after the company said the phase 3 Emerge trial of a single 100-microgram dose of DT120 orally disintegrating tablet in major depressive disorder met the primary endpoint, along with all key secondary efficacy endpoints.MapLight Therapeutics' (MPLT) phase 2 trial of ML-004 in autism spectrum disorder failed to meet its primary endpoint in social communication, the company said. MapLight Therapeutics stock was up 1.6% premarket.

$ABBV$APGE$DFTX$IBB$MPLT$XLV

Sectors51d ago

Sector Update: Consumer Stocks Lean Lower Premarket Monday

Consumer stocks were leaning lower premarket Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.8% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) declining by 0.7%.Instacart (CART) has launched a short-form vertical video feature that allows users to browse and shop meal and recipe content within retailer storefronts on its platform, the company said. Shares of Maplebear or Instacart were down more than 1% pre-bell.America's Car-Mart (CRMT) shares were up more than 51% after the company said it has reached an amended agreement with its creditors to avoid a default on its debt.Vail Resorts (MTN) may face a proxy battle from activist investor Oasis Capital Management, which is considering pushing for board changes and asset sales, Semafor reported, citing people familiar with the matter. Vail Resorts stock was 0.1% higher premarket.

$CART$CRMT$MTN$XLP$XLY

Sectors51d ago

Sector Update: Tech Stocks Advance Premarket Monday

Technology stocks were advancing premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.9% higher.STMicroelectronics (STM) shares were up more than 2% after the company said it released a new 3-dimensional light detection and ranging module designed for artificial intelligence applications on small computing devices.Getty Images (GETY) has entered into a display agreement with Microsoft (MSFT)-backed OpenAI, the company said. Getty Images stock surged past 118% pre-bell.ServiceNow (NOW) has tapped Inspira Enterprise as a trusted delivery partner, the companies said. Shares of ServiceNow were down more than 1% premarket.

$GETY$MSFT$NOW$STM$XLK$XSD

Sectors51d ago

Sector Update: Energy

Energy stocks were declining premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.3% lower.The United States Oil Fund (USO) was down 1.3% and the United States Natural Gas Fund (UNG) was 1.3% higher.Front-month US West Texas Intermediate crude oil was 1.4% lower at $74.80 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 2.3% to $78.72 per barrel, and natural gas futures were up 0.8% at $3.26 per 1 million British Thermal Units.Chevron (CVX) has signed a 20-year agreement with Microsoft (MSFT) to supply natural gas-fired power for a planned West Texas data center campus, Bloomberg reported. Chevron shares were up more than 1% pre-bell.

$CVX$MSFT

Sectors51d ago

Sector Update: Financial

$HOOD

Sectors51d ago

Sector Update: Healthcare

Healthcare stocks were steady premarket Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.3% and the iShares Biotechnology ETF (IBB) inactive.AbbVie (ABBV) has agreed to acquire Apogee Therapeutics (APGE) for $135.11 per share in cash for a total equity value of $10.9 billion. Shares of Apogee Therapeutics were up nearly 47% pre-bell, while AbbVie rose 2.4%.

$ABBV$APGE

Sectors51d ago

Sector Update: Consumer

Consumer stocks were leaning lower premarket Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) declining 0.4%.Instacart (CART) has launched a short-form vertical video feature that allows users to browse and shop meal and recipe content within retailer storefronts on its platform, the company said. Shares of Instacart, also known as Maplebear, were down more than 1% pre-bell.

$CART

Sectors51d ago

Sector Update: Tech

Technology stocks were advancing premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.3% higher.STMicroelectronics (STM) shares were up more than 2% after the company said it released a new 3-dimensional light detection and ranging module designed for artificial intelligence applications on small computing devices.

$STM

Sectors51d ago

Oil Trading at Near a Four-Month Low as Talks Between the U.S. and Iran Progress

Oil prices weakened early Monday on reports that talks between Iran and the United States are progressing, raising hopes the Strait of Hormuz could fully reopen and allow Persian Gulf energy exports to flow more freely.West Texas Intermediate crude oil for July delivery was last seen down 1.1% to US$75.05 per barrel, the lowest since March 4, while August Brent oil was down 2% to US$78.97.The Guardian reported that U.S. Vice President JD Vance said technical talks aimed at formalizing last week's memorandum of understanding between the United States and Iran are progressing well, despite threats directed at Iran that U.S. President Donald Trump posted on social media over the weekend.A deal between the two countries could fully reopen the Strait of Hormuz, the chokepoint for exports from the Persian Gulf nations that supplied a fifth of daily oil demand prior to the Feb. 28 start to the war. Reuters reported tankers have begun moving through the waterway, with Iran beginning to resume exports while the United Arab Emirates, Kuwait and Iraq are promising to deliver more oil to customers."Despite a bumpy start, with Trump issuing fresh warnings towards Iran and Tehran responding with renewed threats to close the Strait of Hormuz, negotiations nevertheless showed signs of progress. The market continues to price in the prospect of an eventual reopening of the Strait and the release of millions of barrels currently stranded in the Persian Gulf.," Saxo Bank noted.

$CLN6$LCOQ6$USO

Sectors54d ago

Gold Extends Losses as Fed Rate-Hike Outlook Supports Dollar

Gold prices fell early Friday for a second straight session, even as the dollar retreated from a 13-month high reached after the Federal Reserve indicated it may raise interest rates to curb rising inflation.Gold for July delivery was last seen down 1.8% to US$4,168.90 per ounce.The Federal Open Market Committee on Wednesday left U.S. benchmark interest rates unchanged but warned of a future hike. Half of the committee members said they expect rates to rise this year as inflation remains well above the Fed's 2% target rate due to high oil prices. The threat of higher interest rates is supporting the dollar, a bearish indicator for commodities priced in the currency."The Federal Open Market Committee on Wednesday left U.S. benchmark interest rates unchanged. Half of the committee members still expect rates to rise this year as inflation remains well above the 2% target rate. While the market initially welcomed the US-Iran MOU and the prospect of lower energy prices, attention has shifted back to the Fed and the possibility of another rate hike later this year," Saxo Bank wrote.The dollar moved down from the highest since May 2025, with the ICE dollar index last seen down 0.13 points to 100.72. Treasury yields fell, with the two-year note last seen paying 4.187%, down 0.8 basis points. The yield on the 10-year note was down 4.0 points to 4.46%

$GCN6$GLD

Sectors54d ago

Oil Edges Up as the U.S. and Iran Suspend Peace Talks Amid Fresh Israeli Attacks in Lebanon

Oil prices edged higher early Friday as the postponement of U.S.-Iran talks and renewed hostilities between Israel and Hezbollah in Lebanon raised concerns about stability in the Middle East and the durability of a recently reached ceasefire.West Texas Intermediate crude oil for July delivery was last seen up 0.7% to US$77.14 per barrel, while August Brent oil was up 0.2% to US$80.05.Talks between Iran and the United States were halted as Iran objected to Israel's continuing attacks in Lebanon, with the New York Times reporting Israel struck 80 targets in Lebanon Friday, killing and injuring dozens. Israeli Prime Minister Benjamin Netanyahu has refused to be bound by the terms of the U.S.-Iran memorandum of understanding (MOU) reached on Wednesday that included a demand the country halt its attacks on its northern neighbor, threatening progress on negotiations to end the U.S. war on Iran.Planned talks between Iran and the United States in Switzerland were suspended due the heightened violence in Lebanon. However despite that, tankers trapped in the Gulf since the start of the war are still readying to move through the Strait of Hormuz as Iran ended its blockade of the key waterway, the chokepoint for Persian Gulf oil exports that supplied a fifth of daily oil demand."US-Iran talks will not begin on Friday after Israel reportedly refused to withdraw from Lebanon and halt attacks, a move Tehran claims violates the MOU's first clause. While flows through the Strait appear set to resume following the lifting of blockades, the latest developments highlight how fragile the agreement remains," Saxo Bank noted.

$CLN6$LCOQ6$USO

Sectors54d ago

Sector Update: Financial Stocks Lower Late Afternoon

Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index easing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.7%.The Philadelphia Housing Index gained 3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) decreased 0.2%.Bitcoin (BTC-USD) fell 2.5% to $62,660, and the yield for 10-year US Treasuries rose 2 basis points to around 4.45%.In economic news, US initial jobless claims last week fell to 226,000 from an upwardly revised 230,000 in the previous week, compared with expectations for 225,000 in a survey of analysts compiled by Bloomberg.In corporate news, Bank of America (BAC) scored an early victory in its collateral battle with Aequum Capital Financial II after a US bankruptcy judge temporarily barred Aequum from distributing cash collected from bankrupt auto-parts supplier First Brands' inventory sales, Bloomberg reported, citing the ruling. Bank of America shares were down 0.3%.SpaceX (SPCX) bankers are planning a potential bond sale of at least $20 billion to refinance a $20 billion bridge loan maturing in September 2027, Bloomberg reported. Bank of America, Citigroup (C), JPMorgan Chase (JPM), Goldman Sachs (GS), and Morgan Stanley (MS), which provided the bridge financing, are expected to run the bond sale, the report said. Citi eased 0.2%, JPMorgan was down 2%, Goldman fell 0.4%, and Morgan Stanley was 0.5% lower.Apollo Global Management (APO) made some concessions regarding its debt refinancing for photo-services company Shutterfly in a bid to entice some unwilling investors, Bloomberg reported. Apollo shares fell 0.7%.Accenture (ACN) shares fell 17% after the company trimmed the top end of its full-year revenue outlook and posted weaker-than-expected fiscal Q3 sales, while announcing three cybersecurity acquisitions totaling about $4.18 billion.

$ACN$APO$BAC$C$GS$JPM$MS

Sectors54d ago

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks were lower late Thursday afternoon, with the NYSE Energy Sector Index falling 1.6% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.7%.The Philadelphia Oil Service Sector Index shed 3.3%, and the Dow Jones US Utilities Index added 0.2%.Front-month West Texas Intermediate crude oil rose 0.1% to $76.86 a barrel, and the global benchmark Brent crude contract added 0.1% to $79.62 a barrel. Henry Hub natural gas futures gained 2.5% to $3.22 per 1 million BTU.US natural gas stocks rose 73 billion cubic feet in the week ended June 12, below the 76 billion rise expected in a Bloomberg survey, and following an increase of 108 billion cubic feet in the previous week.In corporate news, New Fortress Energy (NFE) shares fell 13%. The firm said Thursday the UK restructuring plan between its subsidiaries and some creditors was approved at a hearing in the High Court of Justice of England and Wales.Energy Fuels (UUUU) shares jumped more than 6% after the company said Thursday it obtained a conditional $725 million senior-secured debt commitment from the US Office of Strategic Capital.Energy Transfer (ET) said it is expanding its Nederland, Texas NGL export terminal, adding 240,000 bpd of ethane capacity and 55,000 bpd of LPG capacity, with all ethane volumes committed under long-term contracts into the 2040s. Its shares were fractionally lower.Double Eagle Energy said Thursday that it has no interest in a publicly proposed arrangement that would see principal John Sellers serve as chairman of Fermi Inc. (FRMI), operating as Fermi America. Fermi shares climbed past 6%.

$ET$FRMI$NFE$UUUU

Sectors54d ago

Sector Update: Tech Stocks Climb Late Afternoon

Tech stocks were sharply higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.9% and the State Street SPDR S&P Semiconductor ETF (XSD) jumping 6.8%.The Philadelphia Semiconductor index popped 6.6%.In corporate news, Intel (INTC) shares jumped past 10% after President Donald Trump said Apple (AAPL) has agreed to work with Intel to design and build chips in the US. Apple shares added 0.4%.Tower Semiconductor (TSEM) said it shipped more than five million coherent photonic integrated circuits in partnership with Marvell Technology (MRVL). Marvell shares surged past 13%, and Tower Semiconductor gained 4.7%.Micron Technology (MU) may deliver fiscal Q3 results well above Wall Street's expectations after market prices for memory chips came in higher than the company had assumed, Wedbush Securities said. Micron shares climbed 9.3%.Amazon.com (AMZN) is in discussions to sell its custom AI chips for use in other firms' data centers, expanding its efforts to challenge Nvidia's (NVDA) dominance in the AI chip market, Bloomberg reported, citing Amazon AI chief Peter DeSantis. Amazon shares rose 2.3%.

$AAPL$AMZN$INTC$MRVL$MU$TSEM

Sectors54d ago

Sector Update: Healthcare Stocks Decline Late Afternoon

Healthcare stocks fell late Thursday afternoon with the NYSE Healthcare Index dropping 1% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.9%.The iShares Biotechnology ETF (IBB) shed 0.3%.In corporate news, Pfizer (PFE) shares dropped 2.5% after the company reaffirmed its fiscal 2026 guidance. The company also said Chief Financial Officer Dave Denton will step down on Aug. 15 after accepting a position in the consumer-goods sector.Biogen (BIIB) agreed to acquire private biotechnology company RayThera in a deal worth up to $1 billion. Biogen shares fell 1.4%.EnGene (ENGN) shares shed 1.4% after Morgan Stanley downgraded the stock to underweight from equalweight.NovoCure (NVCR) shares tumbled 19% after the company said a phase 3 trial evaluating its tumor treating fields therapy in patients with newly diagnosed glioblastoma failed to meet its primary endpoint.

$BIIB$ENGN$NVCR$PFE

Sectors54d ago

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.2%.In corporate news, Vail Resorts (MTN) is working with takeover-defense bankers to help the company assess potential risks from labor, a prominent billionaire, and other external pressures, Semafor reported. Vail shares jumped 11%.Ford Motor (F) will begin 2026 negotiations on Monday with Unifor, Canada's largest private-sector union representing thousands of autoworkers in national contract talks. Ford shares increased 0.3%.Kroger (KR) reiterated its full-year outlook on Thursday as the supermarket chain's fiscal Q1 sales topped market estimates, although earnings fell short of expectations. Its shares fell 8.6%.Diageo (DEO) Chief Executive Dave Lewis has ordered senior executives to implement broad cost-cutting measures as part of a major restructuring effort, the Financial Times reported. Diageo shares rose 2%.

$DEO$F$KR$MTN

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Sectors54d ago

Sector Update: Financial Stocks Lower Late Afternoon

$ACN$APO$BAC$C$GS$JPM$MS