Financial News · Live Terminal

Page 8 of 102

Gold Edges Down As Dollar Steadies On Strong U.S. Retail Sales Report Ahead Of Fed's Rate Decision

Gold edged lower early Wednesday as the dollar rose after a report showed U.S. retail sales rose more than expected last month ahead of the latest interest rate decision coming from the Federal Reserve.Gold for July delivery was last seen down US$4.40 to US$4.350.00 per ounce.The U.S. Census Bureau reported May retail sales rose by 0.9% in May, up from a revised 0.4% in April and topping expectations for a rise of 0.5%, according to Marketwatch.The bullish data comes ahead of the latest interest rate decision from the Federal Reserve's policy committee coming later this afternoon, the first under new Fed Chair Kevin Warsh. The Federal Open Market Committee is expected to leave rates unchanged despite the higher inflation that followed the high oil prices due to the Iran-U.S. war."Traders will be watching closely for any guidance from Chair Kevin Warsh on the inflation outlook, as well as clues on how the Federal Reserve balances still-elevated price pressures against signs of slowing economic momentum," Saxo Bank noted.The dollar edged higher, with the ICE dollar index last seen up 0.05 points to 99.59. Treasury yields were mostly steady, with the U.S. two-year note last seen paying 4.071%, up 0.3 basis points, while the 10-year note was down 0.1 points to 4.435%.

$GCN6$GLD

Sectors6d ago

Sector Update: Consumer Stocks Lean Lower Premarket Wednesday

Consumer stocks were leaning lower premarket Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.1% lower.La-Z-Boy (LZB) stock was up more than 17% after the company reported fiscal Q4 adjusted earnings and revenue that topped analysts' estimates, with adjusted EPS increasing year over year.CarMax (KMX) shares were down more than 1% after the company reported a decline in fiscal Q1 net income.Bed Bath & Beyond (BBBY) said it has agreed to acquire real estate services company Fathom Holdings (FTHM). Bed Bath & Beyond stock was down more than 3% premarket.

$BBBY$FTHM$KMX$LZB$XLP$XLY

Sectors6d ago

Sector Update: Tech Stocks Rise Premarket Wednesday

Technology stocks were rising premarket Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) up 1.1% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 2.1%Nokia (NOK) will expand its advanced semiconductor test and packaging facilities in Allentown, Pennsylvania, to increase the manufacturing of photonic chips for artificial intelligence networks, the company said. Shares of Nokia were up more than 2% pre-bell.Applied Optoelectronics (AAOI) said its subsidiary, Global Technology, entered into a one-year credit line agreement with Shanghai Pudong Development Bank in China, providing access to up to 500 million renminbi ($74 million) in financing. Applied Optoelectronics stock was up more than 3% premarket.Ouster (OUST) and AIM Intelligent Machines have formed an agreement to retrofit heavy machinery and vehicles into AI-powered fleets for use in mining, construction, and defense sites globally, the companies said. Ouster shares were up more than 2% pre-bell.

$AAOI$NOK$OUST$XLK$XSD

Sectors6d ago

Sector Update: Energy

Energy stocks were leaning lower pre-bell Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) down 0.1%.The United States Oil Fund (USO) was down 0.4% and the United States Natural Gas Fund (UNG) was 1.4% lower.Front-month US West Texas Intermediate crude oil was 0.7% higher at $76.58 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.8% to $79.60 per barrel, and natural gas futures were down 1.2% at $3.20 per 1 million British Thermal Units.Western Midstream Partners (WES) shares were up more than 1% after the company said the second produced-water treatment pilot facility in its joint industry project has begun operations in Reeves County, Texas, in the Permian Basin.

$WES

Sectors6d ago

Sector Update: Financial

Financial stocks were declining premarket Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.1% lower.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.7% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.4% higher.Progressive (PGR) stock was up more than 2% after the company reported net income for May of $2.47 per share, up from $1.81 a year earlier.

$PGR

Sectors6d ago

Sector Update: Healthcare

Healthcare stocks were mixed premarket Wednesday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.1% and the iShares Biotechnology ETF (IBB) 0.5% higher.Novo Nordisk (NVO) said it is aware of claims by cyber extortion group FulcrumSec that it stole company data and sought a $25 million payment, Reuters reported. Shares of Novo Nordisk were up more than 3% pre-bell.

$NVO

Sectors6d ago

Sector Update: Consumer

$LZB

Sectors6d ago

Oil Edges Higher Early As Details Of Iran-U.S. Peace Deal Emerge; IEA Expects Production To Surge In 2027

Oil edged higher early Wednesday, rising off the lowest in more than three months as details of the peace deal between Iran and the United States emerge, while the International Energy Agency sees inventories depleted by the closure of the Strait of Hormuz to return to surplus next year.West Texas Intermediate crude oil for July delivery was last seen up US$0.87 to US$76.92 per barrel, rising off the lowest since March 4, while August Brent oil was up US$0.69 to US$79.66.Oil markets are settling as the memorandum of understanding reached by the United States and Iran to end their war reached on the weekend looks to resume shipping through the Strait of Hormuz, the chokepoint for oil shipment from the Persian Gulf nations that supplied a fifth of daily oil demand.While the text of the MoU has not yet been released, CNN said it obtained a copy of the deal, reporting the two countries agreed to restore normal shipping through the Strait within 30 days, while Iran will be allowed to resume exporting oil to global markets amid other concessions to Islamic Republic."The MoU declares an immediate ceasefire and reopens the Strait of Hormuz, but front-loads concrete economic benefits to Iran - oil export waivers, frozen asset releases, and naval blockade removal - while deferring all hard nuclear questions to a final agreement," Erik Meyersson, chief EM Strategist at SEB Research, wrote.Since the war began on Feb.28, oil-importing countries have depleted inventories amid the loss of most Persian Gulf supply. In its influential monthly Oil Market Report, the International Energy Agency said global oil inventories fell by an average 3.8-million barrels per day since the start of the conflict, while it expects stocks to fall to record lows in coming months before the market returns to surplus late this year.The agency said it sees global demand down 1.1-million barrels per day this year, down 700,000 bpd from its May report, with 2026 annual supply down by an average 3.0-million bpd due to closure of the Strait. However the market is expected to return to a significant surplus in 2027, with the IEA seeing demand in the year to rebound by two-million bpd while global production surges."Our first look at 2027 balances shows a significant overhang emerging next year. Global oil demand is projected to rise by a relatively modest 2 mb/d to 105.3 mb/d. By contrast, oil supplies look set to surge by around 8 mb/d to 110 mb/d. This may provide a welcome respite to the market and an opportunity to replenish depleted inventories, or to build new strategic reserves," the agency said.

$CLN6$LCOQ6$USO

Sectors6d ago

Sector Update: Tech

$NOK

Sectors6d ago

Markets Playing It Safe Ahead of Key Developments, Says Scotiabank

Global markets are playing it safe so far on Wednesday ahead of several developments, said Scotiabank.These include later in the day FOMC's communications, an update on United States consumer spending and President Donald Trump's press conference at 10:20 a.m. ET on the sidelines of the G7 Summit, noted the bank.At that presser, Trump has pledged to discuss more about the memorandum of understanding (MoU) with Iran that so far hasn't been detailed. Trump noted earlier Wednesday that the MoU isn't finalized, batted away some of the rumoured content, and said that if he doesn't like what he sees, then the U.S. will strike Iran again, pointed out Scotiabank.This is a problem of his own making as there is no available text, added the bank.Scotiabank also added that Iran is claiming that the deal includes a requirement for Israel to withdraw from Lebanon, which the bank considers almost impossible to happen.So, at the time of writing the note, Scotiabank is staring at oil prices moving a few dimes higher, slight strength in the US dollar (USD) against multiple crosses except the yen (JPY) and Swiss franc (CHF), and small gains in most equity benchmarks.Rates curves are performing rather blandly except for outperformance in gilts after the consumer price index data and Sweden's curve after the Riksbank's policy statement.

$CHF$CXY$JPY$USD

Sectors6d ago

Central Banks Remain In Gold-Acquisition Mode, Says National Bank

A recent European Central Bank paper provides a timely reason to revisit central banks' growing preference for gold, with persistent geopolitical tensions continuing to support strong official demand in 2025, said National Bank of Canada.Reserve managers still value the liquidity of US dollar (USD) assets, but sanctions risk, financial fragmentation and concerns over sovereign exposure are strengthening the appeal of assets outside the traditional currency system, noted the bank.Gold's share of total official reserves rose from 16% in 2023 to 27% at the end of 2025, surpassing U.S. Treasuries at 22%, other US dollar assets at 20% and the euro (EUR) at 15%, stated National Bank.The trend appears "far from exhausted," added the bank.According to the World Gold Council's just-released Central Bank Gold Reserves Survey, 84% of respondents expect gold to represent a larger share of global reserves five years from now, up from 76% last year.45% of the 74 central banks surveyed expect their own institution's holdings to increase over the next 12 months, the highest proportion since the survey began.Gold isn't replacing the US dollar, but it is becoming an increasingly important hedge against a more fragmented geopolitical and financial order, according to the bank.Against this backdrop, National Bank remains comfortable with its US$4,000 to US$6,000 per ounce trading range for bullion over the next 12 to 36 months

$CXY$EUR$USD

Sectors6d ago

Brent Crude Up 0.1% at Just Above US$79 and NY Crude Flat To Slightly Higher At Above US$76

$CLN6$LCOQ6$USO

Sectors6d ago

Oil Prices Not Expected to Return to Pre-War Levels Anytime Soon Despite Peace Deal, Commerzbank Says

Commerzbank sees only limited further downside potential in oil prices and does not expect a return toward pre-war levels until next year despite the preliminary agreement between the U.S. and Iran, according to a Tuesday note.Even in the best-case scenario, in which the Strait of Hormuz is sustainably reopened, it is expected that shipping traffic and energy exports from the Gulf region will take some time to normalize again, the bank noted.Some of the countries in the Gulf region can be expected to increase their production above pre-war levels in the medium to long term. This was already planned by members of the Organization of the Petroleum Exporting Countries, which, until recently, had been voluntarily curbing their production, the bank said.Given the current level of demand, this would result in a substantial excess supply, which could push the oil price significantly lower. However, it cannot be assumed that countries with spare capacity will or are able to fully utilize it, according to Commerzbank.Oil demand is also likely to be higher than before the outbreak of the war for a certain period, as many countries need to refill their oil reserves. As the demand-intensive season has begun and a rapid normalization of energy exports from the Gulf region is unlikely, inventories are likely to continue to fall in the coming months.Commerzbank forecasts a Brent oil price of US$85/barrel even at the end of 2026 and does not expect a return toward $65/barrel until 2027.

$CLX1$LCOX1$USO

Sectors6d ago

Crude Oil Prices Hold Steady as Investors Digest Supply Impacts of U.S.-Iran Peace Deal

Crude oil prices were little changed as investors continued to digest potential impacts of a U.S.-Iran peace deal and a reopening of the Strait of Hormuz.Brent crude at last look edged up 0.3% to US$79.16/barrel and West Texas Intermediate crude was up 0.2% to $76.19/barrel. The memorandum of understanding between the U.S. and Iran has not been made public, but details began to emerge Tuesday, with a U.S. official saying Iran would be allowed to sell oil upon signing, Reuters said in a Wednesday report."The current baseline is that the Strait of Hormuz will reopen and that ships will begin transiting through this critical chokepoint in both directions," Reuters quoted PVM Oil analyst Tamas Varga as saying. "The gradual resumption of oil flows, however slow, will materially affect the oil balance."The International Energy Agency also forecast a significant supply overhang in 2027, with global supply set to surge by 8 million barrels per day and demand rising by only 2 million bpd.

$CLX1$LCOX1$USO

Sectors7d ago

Sector Update: Energy Stocks Decline Late Afternoon

Energy stocks fell late Tuesday afternoon, with the NYSE Energy Sector Index decreasing 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.7%.The Philadelphia Oil Service Sector Index dropped 2.1%, and the Dow Jones US Utilities Index rose 0.6%.Oil prices fell Tuesday as a framework to end the Middle East conflict eased global supply fears. The US and Iran have agreed to end their war and reopen the Strait of Hormuz, which is the world's most important chokepoint for crude flows. The two sides are scheduled to sign their peace deal in Switzerland on Friday, which would kick off another round of negotiations on Tehran's nuclear program as Iran seeks sanctions relief.West Texas Intermediate crude oil shed 4.6% to $77.06 a barrel, and global benchmark Brent fell 3.9% to $79.91 a barrel. Henry Hub natural gas futures rose 3.2% to $3.25 per 1 million BTU.In sector news, the US will let Iran sell oil and fuel immediately under the deal the two nations reached to end the war, The Wall Street Journal reported.In corporate news, YPF (YPF) signed a letter of intent to explore collaborations in fast-charging networks and energy storage infrastructure, Reuters reported. Shares were declining 3%.Sable Offshore (SOC) shares fell 5.4%. The company said it has launched a senior secured term loan of up to $1 billion to refinance a secured term loan with Exxon Mobil (XOM).Equinor (EQNR) said Tuesday it will double share buyback to $3 billion in 2026 and expects annual share repurchases of $2 billion to $4 billion from 2027. Shares were down 1.3%.ConocoPhillips (COP) is set to become the first major US oil and gas company to sign a development agreement with Syria's new government, the Financial Times reported. Shares lost 1%.

$COP$EQNR$SOC$YPF

Sectors7d ago

Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks were advancing in late Tuesday afternoon trading, with the NYSE Financial Index rising 1.1% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 1.2%.The Philadelphia Housing Index climbed 1.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was fractionally higher.Bitcoin (BTC-USD) was declining 1.6% to $65,553, and the yield for 10-year US Treasuries fell 4.3 basis points to 4.43%.In economic news, US import prices jumped 1.9% in May, ahead of the 1% increase expected in a Bloomberg-compiled survey and following a 2.0% gain in April. Excluding a 13% surge in petroleum prices, import prices were up 0.8% from 0.5%, beating the 0.5% forecast. Export prices climbed 1.3% in May, above expectations for 0.9% and following a 3.5% jump in April.The New York Federal Reserve's services index worsened to minus 10.1 in June from minus 5.8 in May. The index is the first services reading for June and suggests more widespread contraction.Redbook US same-store sales jumped 9.4% from a year earlier in the week ended June 13, after surging 9.1% in the previous week. Seasonal categories such as air conditioners, fans, pool and beach equipment, swimwear, and other hot-weather apparel led the growth, according to Redbook.In corporate news, Ares Management (ARES) is nearing a deal to take control of French football club Olympique Lyonnais, alongside businesswoman Michele Kang, Bloomberg reported. Ares shares rose 1.4%.L3Harris Technologies (LHX) has selected JPMorgan Chase (JPM) and Morgan Stanley (MS) to lead the IPO of its missile unit Axyv, Bloomberg reported. JPMorgan shares gained 3.4%, and Morgan Stanley added 1.1%.BlackRock (BLK) is cutting about 200 jobs in its latest round of workforce reductions, Bloomberg reported. The layoffs, the fourth in 18 months, span investment, operations and technology roles, as well as positions within the firm's private financing unit, the report said. BlackRock shares advanced 0.8%.Robinhood (HOOD) said it reduced its workforce by about 10% as part of efforts to maintain a high-performance culture, accelerate product development. Robinhood shares fell 1.7%.

$ARES$BLK$HOOD$JPM$MS

Sectors7d ago

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks declined late Tuesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.3% and the State Street SPDR S&P Semiconductor ETF (XSD) retreating 4%.The Philadelphia Semiconductor Index lost 4.6%.In sector news, JPMorgan Chase (JPM) analysts now expect large tech companies to spend about $5.5 trillion through 2030 to develop AI infrastructure, Bloomberg reported Tuesday, citing a research note. Debt will provide roughly $4.1 trillion of the financing, the analysts reportedly said.In corporate news, Marvell Technology (MRVL) shares fell past 7% in Tuesday trading, a day after outgoing CFO Willem Meintjes filed to sell 211,329 shares, according to Form 144 filings with the US Securities and Exchange Commission.Space Exploration Technologies (SPCX) has agreed to acquire Anysphere, which operates AI coding agent Cursor, in a deal worth about $60 billion, just days after the rocket and satellite company went public. SpaceX shares rose 4.1%.Apple's (AAPL) upcoming camera-equipped AirPods, a product meant to push the company into the AI-device market, are scheduled to launch in late 2027, Bloomberg reported. Apple shares rose 0.7%.Palantir (PLTR) is facing scrutiny after data showed most UK National Health Service platform gains occurred in just a few hospital trusts, the Financial Times reported, citing data obtained by the campaign group Foxglove through a freedom-of-information request. Palantir shares were falling 1.6%.

$AAPL$MRVL$PLTR$SPCX

Sectors7d ago

Sector Update: Healthcare Stocks Ease Late Afternoon

Healthcare stocks eased late Tuesday afternoon with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each decreasing 0.2%.The iShares Biotechnology ETF (IBB) also dropped 0.2%.In corporate news, Eli Lilly (LLY) acquired 4E Therapeutics, a neuroscience firm creating chronic-pain treatments. Lilly shares fell 1%.CAMP4 Therapeutics (CAMP) shares jumped 6.1% after JPMorgan upgraded the stock to overweight from neutral and raised its price target to $9 from $5.GSK (GSK) said Health Canada approved Exdensur for severe eosinophilic asthma, which is driven by elevated white blood cells, and for chronic rhinosinusitis with nasal polyps, a condition that causes blockage and inflammation. GSK shares eased 0.1%.Oncolytics Biotech (ONCY) shares climbed 11% after the company received a US patent covering the pelareorep manufacturing process into 2044.

$CAMP$GSK$LLY$ONCY

Sectors7d 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) decreasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.1%.Redbook US same-store sales soared 9.4% from a year earlier in the week ended June 13, after surging 9.1% in the previous week. Seasonal categories such as air conditioners, fans, pool and beach equipment, swimwear, and other hot-weather apparel led the growth, according to Redbook.In corporate news, Yum Brands (YUM) shares rose 1.5% after it said it has agreed to sell Pizza Hut in two deals valued at about $2.7 billion. Private equity firm LongRange Capital will acquire Pizza Hut outside China for about $1.5 billion, while Yum China (YUMC) will purchase the Chinese business for $1.2 billion, Yum Brands said Tuesday. Yum China shares were down 0.9%.Senators Edward Markey (D-Mass.) and Richard Blumenthal (D-Conn.) on Monday asked the US National Highway Traffic Safety Administration to examine Tesla's (TSLA) self-published crash statistics for its "Full Self-Driving" system, Reuters reported Tuesday. In their letter to the NHTSA, the senators cited an earlier Reuters investigation that found that Tesla was exaggerating its safety claims, the report said. Tesla shares were down 1.1%.Netflix (NFLX) is one of several media companies interested in acquiring Lionsgate Studios (LION), Semafor reported. Netflix shares fell 3.7%, and Lionsgate jumped 14%.Rivian Automotive (RIVN) laid off hundreds of employees, or under 2% of its workforce, Tuesday, the Wall Street Journal reported, citing a company spokesperson. The layoffs affected workers in the electric-vehicle maker's service and customer organization, the report said. Rivian shares fell 4.5%.

$NFLX$RIVN$TSLA$YUM$YUMC

Sectors7d ago

Sector Update: Energy

Energy stocks fell late Tuesday afternoon with the NYSE Energy Sector Index decreasing 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.5%.The Philadelphia Oil Service Sector Index dropped 2.1%, and the Dow Jones US Utilities Index rose 0.6%.West Texas Intermediate crude oil fell 5% to $76.74 a barrel, and global benchmark Brent dropped 4.4% to $79.52 a barrel. Henry Hub natural gas futures rose 3.5% to $3.26 per 1 million BTU.In corporate news, YPF (YPF) signed a letter of intent to explore collaborations in fast-charging networks and energy storage infrastructure, Reuters reported. YPF shares fell 3.7%.

$YPF

Showing 141-160 of 2037

Sectors6d ago

Oil Edges Higher Early As Details Of Iran-U.S. Peace Deal Emerge; IEA Expects Production To Surge In 2027

$CLN6$LCOQ6$USO