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Sector Update: Consumer Stocks Edge Higher Pre-Bell Thursday

Consumer stocks were edging higher pre-bell Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advancing by 0.2%.PepsiCo (PEP) stock was up 0.7% after the company posted higher fiscal Q1 core earnings and net revenue.Brown-Forman (BF.A, BF.B) continues to be in merger discussions with Pernod Ricard, Reuters reported, citing Pernod Ricard Chief Financial Officer Helene de Tissot. Brown-Forman shares were down 0.3% premarket.

$BF.A$BF.B$PEP$XLP$XLY

Sectors68d ago

Sector Update: Tech Stocks Flat to Higher Premarket Thursday

Technology stocks were flat to higher premarket Thursday, with the State Street SPDR S&P Semiconductor ETF (XSD) inactive and the State Street Technology Select Sector SPDR Fund (XLK) advancing by 0.3%.Taiwan Semiconductor Manufacturing (TSM) stock was down more than 1% even after the company posted higher Q1 earnings and net revenue.Guidewire (GWRE) shares were up more than 1% after the company said it launched an artificial intelligence assistant for property and casualty insurers.JinkoSolar Holding (JKS) shares were down nearly 10% after the company reported a wider Q4 net loss as revenue declined during the period.

$GWRE$JKS$TSM$XLK$XSD

Sectors68d ago

Sector Update: Health Care

Health care stocks were leaning lower premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) and iShares Biotechnology ETF (IBB) down 0.1%.Hims & Hers Health (HIMS) shares were up more than 8% after a senior US health official signaled plans to ease restrictions on certain peptides.

$HIMS

Sectors68d ago

Oil Moves Higher, But Remains Under US$100 on Hopes Around Talks Between the U.S. and Iran

Oil prices rose early Thursday, but remained firmly below the US$100 mark on hopes the United States and Iran will extend their ceasefire and resume talks to end war in the Middle East.West Texas Intermediate crude oil for May delivery was last seen up $0.43 to US$91.72 per barrel, while June Brent oil was up $0.95 to US$95.88.The U.S. Navy is blockading Iranian ports while Iran continues to block the Strait of Hormuz. However, U.S. President Trump's Wednesday comments that he, once again, thinks the end of the conflict is near, while Pakistan mediators continue to press for a resumption of talks between the two countries, is offering some hope for an end to a war that has kept the 20% of daily oil and gas demand from Persian Gulf Nations off the market.The supply shock has hit hardest in Asian nations, where some countries have introduced rationing while bidding up prices for immediately available supplies that are fetching near US$150 per barrel."Oil has steadied...on signs the US and Iran may extend a ceasefire and restart talks aimed at ending a war that has choked global supplies of key commodities from the Persian Gulf. This has triggered a major supply shock, the impact of which continues to build globally, with the relative calm and sub-USD 100 futures prices not fully reflecting the reality in the physical market," Saxo Bank noted.

$CLK6$LCOM6$USO

Sectors68d ago

Sector Update: Energy

Energy stocks were rising premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.3%.The United States Oil Fund (USO) was up 1.6% and the United States Natural Gas Fund (UNG) was 0.4% higher.Front-month US West Texas Intermediate crude oil was 1% higher at $92.19 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.6% to $96.44 per barrel, and natural gas futures were up 0.1% at $2.61 per 1 million British Thermal Units.TotalEnergies (TTE) shares were up more than 3% after the company said Q1 exploration and production results are expected to rise significantly, supported by higher oil prices and contributions from new projects.

$TTE

Sectors68d ago

Sector Update: Financial

Financial stocks were advancing premarket Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) up 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.5% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.5%.Charles Schwab (SCHW) shares were down 0.1% after the company reported higher Q1 adjusted earnings and net revenue, with net revenue missing analysts' expectations.

$SCHW

Sectors68d ago

Sector Update: Consumer

Consumer stocks were edging higher pre-bell Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) slightly advancing.PepsiCo (PEP) stock was up 0.3% after the company posted higher fiscal Q1 core earnings and net revenue.

$PEP

Sectors68d ago

Sector Update: Tech

Technology stocks were steady premarket Thursday, with the State Street SPDR S&P Semiconductor ETF (XSD) inactive and the State Street Technology Select Sector SPDR Fund (XLK) marginally advancing.Taiwan Semiconductor Manufacturing (TSM) stock was down more than 2% even after the company posted higher Q1 earnings and net revenue.

$TSM

Sectors68d ago

U.S. Commercial Crude Oil Inventories Fell 0.9 Million Barrels in Week Ended April 10, EIA Reports

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) fell by 0.9 million barrels to 463.8 million barrels in the week ended April 10, the U.S. Energy Information Administration said in its Weekly Petroleum Status Report released Wednesday. They are about 1% above the five-year average for this time of year.Total motor gasoline inventories declined 6.3 million barrels to 232.9 million barrels. Distillate fuel stocks dropped 3.1 million barrels to 111.6 million barrels, the EIA reported.Crude oil refinery inputs fell 208,000 barrels per day to 16 million barrels per day week over week. Refineries operated at 89.6% of their operable capacity during the week, the EIA said.Crude imports were down 1 million barrels per day to 5.3 million barrels per day, according to the agency.

$CLX1$LCOX1$USO

Sectors68d ago

Crude Oil Prices Rise as Market Expects Continued Supply Disruptions Despite U.S.-Iran Talks

Crude oil prices rose on Thursday as the war in the Middle East is expected to continue despite peace talks between the U.S. and Iran and the possibility of a two week ceasefire extension.Brent crude at last look had gained 1.4% to US$96.28/barrel while West Texas Intermediate crude was up 1.2% to $92.42/barrel. U.S. and Iranian officials consider returning to Pakistan for further talks as early as this weekend, Reuters said in a Thursday report.The Strait of Hormuz remains effectively closed and the U.S. blockade on Iranian ports is expected to exacerbate supply disruptions, the report said."We remain sceptical of any immediate solving of this war," Reuters quoted PVM oil market analyst John Evans as saying. "Pick any headline and there is always a counter."

$CLX1$LCOX1$USO

Sectors69d ago

Sector Update: Energy Stocks Softer Late Afternoon

Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index down 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.3%.The Philadelphia Oil Service Sector Index was adding 0.4%, and the Dow Jones US Utilities Index was shedding 0.9%.In sector news, President Donald Trump said he sees the US-Israel war with Iran "as very close to over," news outlets reported, citing an interview on Fox Business Network conducted Tuesday and broadcast Wednesday.Front-month West Texas Intermediate crude oil shed 0.3% to $90.98 a barrel, and the global benchmark Brent crude contract was steady at $94.79 a barrel. Henry Hub natural gas futures increased 0.5% to $2.61 per 1 million BTU.US crude oil stocks, including those in the Strategic Petroleum Reserve, declined 5.1 million barrels in the week ended April 10 following an increase of 1.3 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 900,000 barrels after a 3.1-million-barrel increase in the previous week, compared with the 1.9-million-barrel increase expected in a survey compiled by Bloomberg.In corporate news, ReNew Energy Global (RNW) shares rose 2.4% after the firm said Wednesday it has commissioned roughly 2.4 gigawatts of assets in fiscal 2026, bringing its total operating capacity to about 12.6 GW.Spire (SR) has agreed to sell its natural gas storage assets in Wyoming and Oklahoma to I Squared Capital for $650 million, the companies said Wednesday. Spire shares were down 0.4%.Equinor's (EQNR) Danske Commodities said it eliminated about 28 positions in March, as the company aims to further its new commercial strategy. Equinor shares fell 3.2%.NOV (NOV) shares fell 0.4% after the company said disruptions linked to the war in the Middle East are expected to weigh on its Q1 results, with revenue and earnings coming in below prior guidance due to logistical challenges and delayed equipment deliveries in the region.

$EQNR$NOV$RNW$SR

Sectors69d ago

Sector Update: Financial Stocks Mixed Late Afternoon

Financial stocks were mixed in late Wednesday afternoon trading, with the NYSE Financial Index shedding 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.9%.The Philadelphia Housing Index was falling 2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was decreasing 0.1%.Bitcoin (BTC-USD) was rising 1.5% to $75,233, and the yield for 10-year US Treasuries increased 2.5 basis points to 4.28%In economic news, the New York Federal Reserve's Empire State manufacturing index rebounded to 11.0 in April from minus 0.2 in March, above the expectations for a 0.0 print in a Bloomberg-compiled survey.The National Association of Home Builders' monthly housing market index fell to 34 in April from a revised 38 in March, compared with expectations for 37 in a survey compiled by Bloomberg.In corporate news, Morgan Stanley (MS) plans to raise $10 billion in one of the largest bond sales by a Wall Street bank, following its Q1 results, Bloomberg reported. Morgan Stanley posted stronger-than-expected Q1 results as sharp gains in investment banking and trading activity helped boost revenue to a record. Its shares climbed past 4%.Bank of America's (BAC) Q1 results topped Wall Street's estimates, buoyed by double-digit gains in investment banking and asset management fees, while Chief Executive Brian Moynihan said factors including robust consumer spending indicate a resilient US economy. Its shares rose 2.2%.Pacific Investment Management said it bought the entire $400 million bond issuance from Blue Owl Capital's (OWL) business development company, signaling confidence in a volatile private credit market, Bloomberg reported. Blue Owl Capital shares jumped past 8%.Ares Management (ARES) Chief Executive Michael Arougheti said private credit defaults are relatively contained, with most of the troubles in the sector caused by a lack of liquidity and high interest rates, Reuters reported Wednesday. Ares shares climbed 6%.

$ARES$BAC$MS$OWL

Sectors69d ago

Sector Update: Tech Stocks Higher Late Afternoon

Tech stocks advanced late Wednesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 0.7%.The Philadelphia Semiconductor index fell 0.3%.In corporate news, Alphabet (GOOGL) is poised for a windfall worth more than $100 billion from its early investment in SpaceX, Bloomberg reported. Alphabet shares rose 1.1%.Snap (SNAP) plans to lay off about 1,000 employees, or 16% of its full-time workforce, as part of efforts to reduce costs. Snap shares jumped 7.4%.Broadcom (AVGO) shares rose 3.8% after the chipmaker expanded its partnership with Meta Platforms (META) to support the technology giant's AI compute infrastructure. Meta shares gained 1.7%.CoreWeave (CRWV) will receive about $6 billion from Jane Street in exchange for use of its AI cloud platform. CoreWeave shares added 1.5%.

$AVGO$CRWV$GOOGL$META$SNAP

Sectors69d ago

Sector Update: Health Care Stocks Decline Late Afternoon

Health care stocks were lower late Wednesday afternoon, with the NYSE Health Care Index down 0.5% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.7%.The iShares Biotechnology ETF (IBB) was fractionally higher.In corporate news, GSK (GSK) said Wednesday it has completed its $950 million acquisition of 35Pharma, adding an experimental pulmonary hypertension therapy to its respiratory, immunology and inflammation pipeline. GSK shares were down 2.1%.Janux Therapeutics (JANX) lacks near-term stock-moving catalysts after it came under pressure following mixed results from the phase 1a trial of JANX007 in 5L metastatic prostate cancer, UBS said in a report. UBS downgraded the stock to neutral from buy and cut its price target to $15 from $57. Janux shares fell 1.1%.GoodRx (GDRX) shares climbed up 4.3% after the firm said Wednesday it is offering Novo Nordisk's (NVO) Wegovy HD 7.2 mg injectable weight loss drug to eligible self-pay patients. Novo shares rose 3.7%.Immutep (IMMP) shares surged 73% after it said the US Food and Drug Administration has granted orphan drug designation to eftilagimod alfa to treat soft tissue sarcoma, a rare cancer.

$GDRX$GSK$IMMP$JANX$NVO

Sectors69d ago

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.6%.In corporate news, Tesla (TSLA) has completed the tape-out of its AI5 chip and is advancing development of AI6 and Dojo3, CEO Elon Musk said on X on Wednesday. Tape-out marks the final design stage before a chip is sent to manufacturing. Tesla shares jumped past 8%.Brown-Forman (BF.A, BF.B) received a buyout offer from Sazerac for around $15 billion, The Wall Street Journal reported. Brown-Forman Class A shares rose 1% and its Class B shares added 0.9%.Stellantis (STLA) is considering reviving a partnership with Dongfeng Motor under which the companies would jointly produce cars in Europe and China, Bloomberg reported. Stellantis shares gained 1.9%.Domino's Pizza's (DPZ) Q1 results will likely miss Wall Street's estimates, with economic challenges expected to drive a downgrade to the pizza restaurant operator's same-store sales outlook for the US, RBC Capital Markets said in a note. Domino's Pizza shares were fractionally lower.

$BF.A$BF.B$DPZ$STLA$TSLA

Sectors69d ago

Sector Update: Energy

$RNW

Sectors69d ago

Sector Update: Health Care

$GSK

Sectors69d ago

Sector Update: Tech

Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.5%.The Philadelphia Semiconductor index decreased 0.2%.In corporate news, Alphabet (GOOGL) is poised for a 12-figure windfall from its early investment in SpaceX, Bloomberg reported, citing a filing. At the end of 2025, Google LLC owned a 6.11% stake in SpaceX, the report said, citing a SpaceX filing in Alaska. At a $2 trillion valuation, which SpaceX hopes to top in its initial public offering, the holding would be worth $122 billion, the report said. Alphabet shares rose 0.9%.

$GOOGL

Sectors69d ago

Sector Update: Consumer

Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.6%.In corporate news, Brown-Forman (BF.A, BF.B) received a buyout offer from Sazerac for around $15 billion, The Wall Street Journal reported. Brown-Forman Class A shares rose 1% and its Class B shares added 0.9%.

$BF.A$BF.B

Sectors69d ago

Update: WTI Closes Up a Penny as Supply Worries Continue Even as Trump Claims the War is "Close to Over"

West Texas Intermediate (WTI) crude oil closed up by a penny on Wednesday as U.S. President Trump again declared the war on Iran is near an end while traders continue to scramble for supply with the closure of the Strait of Hormuz keeping a fifth of daily oil demand off the market.WTI crude oil for May delivery closed up US$0.01 to settle at US$91.29 per barrel, while June Brent oil was last seen up US$0.23 to US$95.02.Trump's on Wednesday told a U.S. television network that the war was "close to over", according to the New York Times, while on Tuesday saying he expected negotiations with Iran to soon continue.Still, the Strait of Hormuz remains closed to most shipping, keeping 20% of daily oil demand from the market, as Iran continues to forbid tankers from transiting the waterway while the United States blockades Iranian ports."Iran's own blockade of non-Iranian oil keeps most crude inside the Gulf, while the US blockade now prevents Iranian crude from getting out. i.e., the (Strait of Hormuz) is theoretically closed from both sides (with some ships sailing through). The only meaningful ME (Middle Eastern) oil reaching the global market is Saudi Arabia's pipeline exports through Yanbu to the Red Sea," Ole Hvalbye, a commodities analyst at SEB Research, wrote.U.S. commercial oil inventories posted an unexpected drop last week, as the Energy Information Administration reported stocks fell 0.9-million barrels, while the consensus estimate among analysts polled by Reuters expected a rise of 0.15-million barrels

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Sectors69d ago

Sector Update: Energy Stocks Softer Late Afternoon

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