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Sector Update: Financial

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 1.3%.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 1.4% to $65,629, and the yield for 10-year US Treasuries fell 4.3 basis points to 4.43%.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 1.8%.

$ARES

Sectors7d ago

Sector Update: Tech

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) tumbling 4.6%.The Philadelphia Semiconductor Index also slumped 4.6%.In corporate news, 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 0.8%.

$AAPL

Sectors7d ago

Sector Update: Healthcare

Healthcare stocks edged lower late Tuesday afternoon, with the NYSE Healthcare Index decreasing 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) easing 0.1%.The iShares Biotechnology ETF (IBB) was down 0.%.In corporate news, CAMP4 Therapeutics (CAMP) shares jumped past 7% after JPMorgan upgraded the stock to overweight from neutral and raised its price target to $9 from $5.

$CAMP

Sectors7d ago

Update: WTI Oil Falls 5.8% on Hopes for a Quick Return of Persian Gulf Supply Following the Iran-U.S. Truce

West Texas Intermediate (WTI) fell for a fourth-straight session on Tuesday, closing down 5.8% on expectations supply is on the rise as the market anticipates the weekend truce between Iran and the United States will reopen the Strait of Hormuz and free tankers trapped in the Persian Gulf since the start of the conflict.WTI crude oil for July delivery closed down US$4.70 to settle at US$76.05 per barrel, the lowest since March 4, while August Brent oil was last seen down $4.46 to US$78.71.Oil is down 17% in the past four sessions as the market expects a return of Persian Gulf supply as the U.S and Iran reached a truce in the war that produced the largest-ever energy supply shock, shutting in much of the 20% of daily oil demand supplied by countries in the region.While terms of the agreement have not yet been disclosed, ships are expected to soon begin openly transiting the Strait that has been blocked since the Feb. 28 start to the war, boosting supply to the mostly Asian markets that depend on Gulf exports. Indeed, the Wall Street Journal reported the United States is already allowing Iran to ship oil through the Strait.However the war has damaged oil infrastructure in Persian Gulf nations following Iranian attacks on its neighbors, while shut-in oilfields could be slow to restart, keeping supply below pre-war levels, even as the market anticipates a quick return of the region's production."The (price) reaction highlights how quickly markets have shifted from pricing the largest oil supply disruption in modern history to focusing on recovery. Brent crude, which briefly traded above USD 120 per barrel during the height of the crisis, has fallen back toward the low USD 80s as traders anticipate a return of stranded supply and easing market tightness. Even so, prices remain well above the pre-war USD 60-70 range.," Ole Hansen, head commodity strategy at Saxo Bank, said.

$CLN6$LCOQ6$USO

Sectors7d ago

July WTI Crude Oil Contract Closes Down US$4.70, or 5.8%, Settles at US$76.05 per Barrel

$CLN6$LCOQ6$USO

Sectors7d ago

Update: Gold Steady As The Iran War Truce Eases Inflation Worries

(Updates prices.)Gold was steady midafternoon Tuesday as inflation fears ebbed while oil prices eased after the United States and Iran reached an interim deal to end their war.Gold for July delivery was last seen down US$0.90 to US$4,350.70 per ounce.The weekend memorandum of understanding between the United States and Iran sent oil prices to a three-month low, easing concerns the inflation that has followed high prices for the commodity would force central banks to raise interest rates. However the Federal Reserve's policy committee begins its two-day meeting today, with the CME FedWatch Tool seeing a 99.6% probability the group will leave rates unchanged."Following last week's capitulation-style sell-off, which took bullion near US$4,000, positioning has become considerably cleaner, leaving traders better placed to respond to shifts in either the technical or fundamental outlook. With market expectations geared towards a rate hike later this year, attention now turns to Wednesday's FOMC, the first under new Chair Kevin Warsh," Saxo Bank wrote in a note to clients.The dollar eased, with the ICE dollar index last seen down 0.1 points to 99.53. Treasury yields were lower, with the U.S. two-year note last seen paying 4.052%, down 2.9 basis points, while the yield on the 10-year note was down 5.4 points to 4.427%

$GCN6$GLD

Sectors7d ago

Sector Update: Financial Stocks Rise Tuesday Afternoon

Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 1.3% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 1.4%.The Philadelphia Housing Index was gaining 1.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.3%.Bitcoin (BTC-USD) was declining 0.9% to $65,682, and the yield for 10-year US Treasuries was falling 4.1 basis points to 4.428%.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, 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 rose 3.6%, and Morgan Stanley added 1.2%.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 1%.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 2%.

$BLK$HOOD$JPM$MS

Sectors7d ago

Sector Update: Energy Stocks Decline Tuesday Afternoon

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.7%.The Philadelphia Oil Service Sector Index was falling 2.1%, and the Dow Jones US Utilities Index rose 1.1%.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.Front-month West Texas Intermediate crude oil fell 6.1% to $75.82 a barrel, and the global benchmark Brent crude contract dropped 5.4% to $78.66 a barrel. Henry Hub natural gas futures rose 3% to $3.24 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. The provision also covers necessary services to sell oil, including banking, transportation and insurance, the report said.In corporate news, Sable Offshore (SOC) shares fell nearly 6% after the company said it launched a proposed 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. Equinor shares were down 1.4%.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. ConocoPhillips shares were shedding 1.4%.

$COP$EQNR$SOC

Sectors7d ago

Sector Update: Consumer Stocks Edge Higher Tuesday Afternoon

Consumer stocks edged up Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) each 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 1.9% 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 1%.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 1.6%.John Wiley & Sons (WLY) shares added 0.4% after it reported higher fiscal Q4 results on Tuesday and said it expects fiscal 2027 results to show further gains.

$TSLA$WLY$YUM$YUMC

Sectors7d ago

Sector Update: Healthcare Stocks Advance in Afternoon Trading

Healthcare stocks edged higher Tuesday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each adding 0.2%.The iShares Biotechnology ETF (IBB) was down 0.2%.In corporate news, 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 rose 0.3%.Novo Nordisk (NVO) plans to apply for Chinese regulatory approval of its oral weight-loss drug, Wegovy, within the next few months, Reuters reported, citing Chief Executive Mike Doustdar. According to the report, Eli Lilly (LLY) submitted a marketing application in China for its oral obesity drug late last year, putting the company ahead of Novo in the race to launch a weight-loss pill in the country. Novo shares were down 0.3%, and Lilly was 0.1% lower.Oncolytics Biotech (ONCY) shares jumped past 10% after it said Tuesday it has received a US patent covering the pelareorep manufacturing process into 2044.

$GSK$LLY$NVO$ONCY

Sectors7d ago

Sector Update: Financial

Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 1.4% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 1.6%.The Philadelphia Housing Index was gaining 1.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.3%.Bitcoin (BTC-USD) was declining 0.9% to $65,682, and the yield for 10-year US Treasuries was falling 4.1 basis points to 4.428%.In corporate news, 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 rose 3.8%, and Morgan Stanley added 1.3%.

$JPM$MS

Sectors7d ago

Sector Update: Energy

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index decreasing 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.6%.The Philadelphia Oil Service Sector Index was falling 2.1%, and the Dow Jones US Utilities Index rose 1.1%.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.Front-month West Texas Intermediate crude oil fell 6.1% to $75.83 a barrel, and the global benchmark Brent crude contract dropped 5.3% to $78.73 a barrel. Henry Hub natural gas futures rose 2.9% to $3.24 per 1 million BTU.In corporate news, 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. Equinor shares were down 1.3%.

$EQNR

Sectors7d ago

Sector Update: Consumer

Consumer stocks advanced Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.1%.In corporate news, Yum Brands (YUM) shares rose 2.2% 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 1.5%.

$YUM

Sectors7d ago

Sector Update: Healthcare

Healthcare stocks rose Tuesday afternoon, with the NYSE Healthcare Index increasing 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.3%.The iShares Biotechnology ETF (IBB) was shedding 0.3%.In corporate news, Oncolytics Biotech (ONCY) shares jumped past 9% after it said Tuesday it has received a US patent covering the pelareorep manufacturing process into 2044.

$ONCY

Sectors7d ago

Sector Update: Tech

Tech stocks were lower Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.4%.The Philadelphia Semiconductor index declined 3.4%.In corporate news, Marvell Technology (MRVL) shares fell 5.6% in Tuesday trading, a day after outgoing chief financial officer Willem Meintjes filed to sell a total of 211,329 common shares, according to Form 144 filings with the US Securities and Exchange Commission.

$MRVL

Sectors7d ago

Market Chatter: Peace Deal With US Lets Iran Sell Oil Immediately

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 Tuesday, citing people familiar with the agreement.The provision also covers necessary services to sell oil, including banking, transportation and insurance, the report said, citing the people.The White House didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Sectors7d ago

Peace Deal With US Lets Iran Sell Oil Immediately, The Wall Street Journal Reports

Sectors7d ago

Natural Gas Edges Up Despite Cool Long-Term Forecasts

Natural gas futures edged higher early Tuesday even as long-term forecasts expect cooler weather is on the way for big eastern markets, cutting into cooling demand.Gas for July delivery was last seen up $0.01 to US$3.16 per million British thermal units.Long-term forecasts from the National Weather Service expect temperatures in the Northeast and Upper Midwest to be cooler than seasonal over its six to 14 day forecast, easing demand for air conditioning."After bouncing away from support yesterday we are seeing some potential shorts trying to cover but with resistance at $3.18 we are likely limited on how far we can push with such bearish weather on the maps," Gary Cunningham, Director of Market Research at Tradition Energy wrote.

$NGN6$UNG

Sectors7d ago

Gold Rises Again As Prospect of Iran War Truce Eases Inflation Worries

Gold rose for a third session early Tuesday as inflation fears ebbed while oil prices eased after the United States and Iran reached an interim deal to end their war.Gold for July delivery was last seen up $24.30 to US$4,375.90 per ounce.The rise follows on a weekend MOU between the United States and Iran that sent oil prices to a three-month low, easing concerns the inflation that has followed high prices for the commodity would force central banks to raise interest rates. However the Federal Reserve's policy committee begins its two-day meeting today, with the CME FedWatch Tool seeing a 99.6% probability the group will leave rates unchanged."Following last week's capitulation-style sell-off, which took bullion near US$4,000, positioning has become considerably cleaner, leaving traders better placed to respond to shifts in either the technical or fundamental outlook. With market expectations geared towards a rate hike later this year, attention now turns to Wednesday's FOMC, the first under new Chair Kevin Warsh," Saxo Bank wrote in a note to clients.The dollar was steady early, with the ICE dollar index last seen up 0.03 points to 99.66. Treasury yields were lower, with the U.S. two-year note last seen paying 4.075%, down 0.6 basis points, while the yield on the 10-year note was down 2.5 points to 4.456%

$GCN6$GLD

Sectors7d ago

Sector Update: Energy Stocks Decline Pre-Bell Tuesday

Energy stocks were declining pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) falling 0.7%.The United States Oil Fund (USO) was down 4% and the United States Natural Gas Fund (UNG) was 0.1% higher.Front-month US West Texas Intermediate crude oil was 3.9% lower at $77.62 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 3.3% to $80.47 per barrel, and natural gas futures were up 0.6% at $3.17 per 1 million British Thermal Units.Sable Offshore (SOC) stock was down more than 4% after the company said it launched a proposed senior secured term loan of up to $1 billion to refinance its existing secured term loan with Exxon Mobil (XOM).Shell's (SHEL) electric vehicle charging service Shell Recharge and SINEXCEL have launched a joint laboratory in Shenzhen, China, to develop EV charging technologies and energy solutions, the Chinese energy technology company said. Shell shares were 0.5% lower premarket.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, citing people familiar with the matter. ConocoPhillips stock was down more than 1% pre-bell.

$COP$SHEL$SOC$UNG$USO$XLE$XOM

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Sectors7d ago

Sector Update: Financial Stocks Rise Tuesday Afternoon

$BLK$HOOD$JPM$MS