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Update: US Equity Indexes Fall as 30-Year Yield Hits 19-Year High, Crude Oil Advances

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes declined, with chipmakers helping drive technology to the bottom of sector charts, after the 30-year government bond yield touched levels last seen around the 2007 global financial crisis and crude oil prices extended gains.The Nasdaq Composite dropped 1.3% to 26,304.5, and the S&P 500 declined 0.6% to 7,698.6 ahead of Tuesday's close. The Dow Jones Industrial Average slipped 0.1% to 53,402.9. Technology and industrials led decliners.Most US Treasury yields retreated after midday. The 30-year yield fell 2.5 basis points to 5.29% after touching 5.34% intraday, the highest since 2007.The increase in the 30-year yield to a 19-year high comes amid concerns that an imminent escalation in the Middle East sent Brent crude prices above $90 a barrel and will fan fears of inflation, according to a D.A. Davidson research note Tuesday.The front-month US West Texas Intermediate crude oil contract rose 0.6% to $85.01 per barrel, and global benchmark North Sea Brent edged up 0.1% to $91.00 per barrel a day after the deadline to reach a permanent peace deal with Iran expired."There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran," President Trump posted on his social media platform.The Strait of Hormuz will remain closed until the US meets the conditions of an interim deal signed with Iran in June, Reuters reported Tuesday, citing Iran's negotiator Mohammad Baqer Qalibaf in state media.On the same day, Trump posted an image that showed the Strait of Hormuz as "New U.S. Territory." More than 80% of vessel transits through the Strait of Hormuz over the past two weeks have taken the Omani route - a UN-authorized shipping channel that Iran vehemently opposes - according to Kpler, which tracks ships using transponders and satellite data, CNN reported.

Dow JonesNasdaq CompositeS&P 500

Japan34d ago

Update: US Equity Indexes Fall as 30-Year Yield Remains Elevated, Crude Oil Jumps

(Updates with index/price moves, analyst comments and geopolitical news from the first paragraph.)US equity indexes fell after crude oil advanced amid worsening geopolitics related to Iran, while the 30-year government bond yield hovered close to levels seen around the 2007 global financial crisis.The Nasdaq Composite dropped 1.1% to 26,348.1, and the S&P 500 declined 0.5% to 7,702.9 after midday Tuesday. The Dow Jones Industrial Average slipped less than 0.2% to 53,378.7.Technology, industrials and communication services led decliners.Most US Treasury yields retreated after midday. The 30-year yield hovered at around 5.29% after touching 5.34% intraday, the highest since 2007.The increase in the 30-year yield to a 19-year high comes amid concerns that an imminent escalation in the Middle East sent Brent crude prices above $90 a barrel and will fan fears of inflation, according to a D.A. Davidson research note Tuesday.The front-month US West Texas Intermediate crude oil contract rose 0.9% to $85.25 per barrel, and global benchmark North Sea Brent edged up 0.7% to $91.47 per barrel a day after the deadline to reach a permanent peace deal with Iran expired and as tensions mounted between the warring sides."There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran," Trump posted on his social media platform. "The Hormuz Strait is open and operating. All water mines have been removed or detonated."Hormuz will remain closed until the US meets the conditions of an interim deal signed with Iran in June, Reuters reported, citing Iran's negotiator Mohammad Baqer Qalibaf in state media on Tuesday. On the same day, Trump posted an image that showed the Strait of Hormuz as "New U.S. Territory."

Dow JonesNasdaq CompositeS&P 500

Japan34d ago

US Equity Futures Lower Pre-Bell as Middle East Peace Prospects Dim

US equity futures were edging lower pre-bell Tuesday as prospects for a peace agreement in the Middle East dimmed with the US not seeking to extend the ceasefire agreement with Iran that expired Monday.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 1.2% lower.Iran would shift to a "fully offensive" military posture to break the US naval blockade if diplomatic efforts to end the war fail, Reuters reported Tuesday, citing a senior Iranian official. Asked by reporters if the US was seeking to extend the ceasefire, President Donald Trump said no, according to Reuters.Traders digested the latest round of earnings, with Home Depot (HD) reporting higher fiscal Q2 adjusted earnings and net sales.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.3% at $91.10 per barrel and US West Texas Intermediate crude 0.7% higher at $84.33 per barrel.Housing starts for July, slated for 8:30 am ET, are expected at 1.345 million units annually, down from 1.427 million, according to estimates compiled by Bloomberg. The July import price index is expected to show a 0.1% month-over-month gain after a 0.3% increase previously. The export price index is projected to hold steady, compared with a decrease of 0.6% previously.The July industrial production report, due at 9:15 am ET, is forecast to show a 0.3% gain following a 0.1% increase in the prior month. Pending home sales for July, slated for 10 a.m. ET, are expected to hold steady after a drop of 5.4% in the prior month.

Dow JonesNasdaq CompositeS&P 500$HD

Japan35d ago

US Equity Markets End Lower Amid Rise in Crude Oil Prices Following Trump's Threat to Attack Oman

US equity indexes ended lower Monday after crude oil prices rose following President Donald Trump's threat to attack Oman as the deadline to reach a permanent peace deal with Iran expired.* Iran's Foreign Ministry spokesman said Tehran had reached an agreement with Oman regarding future shipping routes in the strait, according to a CBS report. Trump threatened to bomb Oman if the country "gets in the way" of US efforts to reopen the Strait of Hormuz and end the war with Iran, CBS cited Fox News.* The National Association of Home Builders' monthly housing market index rose to 35 in August from 34 in July and 32 a year earlier, compared with expectations for a decline to 33 in a Bloomberg-compiled poll.* September West Texas Intermediate crude oil rose $2.04 to settle at $84.46 per barrel, while October Brent crude, the global benchmark, was last seen up $2.16 at $90.68.* Situational Awareness increased its stakes in Micron Technology (MU) and Sandisk (SNDK) in Q2, according to regulatory filings published Friday. Sandisk shares were about 8.8% higher, the top gainer on the S&P 500 and Nasdaq, while Micron Technology stock was up more than 4.1%.* Berkshire Hathaway (BRK.A, BRK.B) exited its position in Constellation Brands (STZ), while increasing its stake in Alphabet (GOOG, GOOGL), according to a filing on Friday. Constellation Brands' stock fell about 6.1%, among the worst performers on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$BRK.A$BRK.B$GOOG$GOOGL$MU$SNDK$STZ

Japan35d ago

Update: US Equity Indexes Decline, Crude Oil Jumps After Trump Threatens to Bomb Oman

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes fell as crude oil prices jumped after President Donald Trump threatened to attack Oman while a deadline to reach a permanent peace deal with Iran expired.The Nasdaq Composite fell 0.2% to 26,666.1, the S&P 500 declined 0.4% to 7,752.2, and the Dow Jones Industrial Average slid 0.5% to 53,488.6. All sectors except energy retreated, led by declines in communication services, consumer staples and consumer discretionary.Monday marks 60 days since the US and Iran signed a memorandum of understanding that called for a wider peace deal to be negotiated within that timeframe, CBS NEWS reported. On the same day, Trump threatened to bomb Oman if the country "gets in the way" of US efforts to reopen the Strait of Hormuz and end the war with Iran, CBS cited Fox News.Earlier, Iran's Foreign Ministry spokesman said Tehran had reached an agreement with Oman regarding future shipping routes in the strait, according to the CBS report. That being said, Iran has decided to shift its policy from defensive to "fully offensive" due to the deadlock in efforts to secure a permanent end to its war with the United States, a senior Iranian official told Reuters on Monday.Brigadier General Yadollah Javani, head of the political bureau of the Islamic Revolutionary Guard Corps, told state television on Sunday night that his forces were ready to take whatever action is needed to defend the country, according to a report from Al Jazeera, a Middle Eastern broadcaster.The front-month US West Texas Intermediate crude oil contract jumped 2.3% to $84.31 per barrel, and global benchmark North Sea Brent advanced 2.4% to $90.66 per barrel.Meanwhile, Amazon-backed (AMZN) Anthropic informed potential investors that Q2 revenue increased at least 14-fold from a year earlier to over $11.5 billion, Bloomberg News reported Monday, citing documents.Among companies with market capitalizations exceeding $200 billion each, eight of the top 10 by intraday returns were in the technology sector, according to data compiled by Finviz. Of those eight firms, six were related to the semiconductor industry. Sandisk (SNDK) led the pack, with a 7.4% gain.

Dow JonesNasdaq CompositeS&P 500$AMZN$SNDK

Japan35d ago

Update: US Equity Indexes Mixed as Tech Gains Lift Nasdaq, Trump Threatens to Bomb Oman as Iran Peace Deal Deadline Expires

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes traded mixed, as speculation about Anthropic's Q2 sales helped lift technology and President Donald Trump warned Oman of attacks on the day a deadline to reach a permanent peace deal with Iran expired.The Nasdaq Composite rose less than 0.1% to 26,747.1 after midday Monday. The S&P 500 slipped 0.1% to 7,774.9 and the Dow Jones Industrial Average declined 0.3% to 53,579.2.Amazon-backed (AMZN) Anthropic informed potential investors that Q2 revenue increased at least 14-fold from a year earlier to over $11.5 billion, Bloomberg News reported Monday, citing documents.Among companies with market capitalizations exceeding $200 billion each, seven of the top 10 by intraday returns were in the technology sector, according to data compiled by Finviz. Of those seven firms, five were related to the semiconductor industry. Sandisk (SNDK) led the pack, with a 9% gain.Monday marks 60 days since the US and Iran signed a memorandum of understanding that called for a wider peace deal to be negotiated within that timeframe, CBS NEWS reported. On the same day, Trump threatened to bomb Oman if the country "gets in the way" of US efforts to reopen the Strait of Hormuz and end the war with Iran, CBS cited Fox News.The front-month US West Texas Intermediate crude oil contract rose 0.5% to $82.78 per barrel, while global benchmark North Sea Brent edged up 0.6% to $89.04 per barrel.

Dow JonesNasdaq CompositeS&P 500$AMZN$SNDK

Japan35d ago

European Stocks Close Lower in Monday Trading Despite Tech, Mining Stocks Rally

European stock markets closed lower in Monday trading, despite a rally among tech and mining shares.The Stoxx Europe declined 0.2%, Germany's DAX dropped 0.3%, the FTSE 100 fell 0.2%, France's CAC lost 0.6%, and the Swiss Market Index decreased 0.6%.In corporate news, ArcelorMittal's Kryvyi Rih plant in Ukraine was hit by a missile strike over the weekend, killing two employees and injuring 13 others, the steelmaker said Monday.The strike damaged the plant's main energy and blast furnace production facilities, partially halting production, the company said.Specialists are assessing the damage and determining the timing and feasibility of restoring operations, ArcelorMittal said.Shares of the steel and mining major lost 0.8% in Paris.Shell has lost a legal battle with environmental activists over an oil exploration campaign off South Africa's Wild Coast, Bloomberg reported Friday.The Constitutional Court ruled that the exploration right cannot be renewed, Bloomberg said.The report said the five-year legal dispute began in 2021, when activists challenged Shell's planned seismic survey over concerns about community consultation and potential impacts on marine life."South Africa is currently reliant on energy imports for many of its energy needs. Should viable resources be found offshore, this could significantly contribute to South Africa's energy security and the Government's economic development programmes." Shell told.Shares of Shell rose 0.5% in London.Argenx said Monday a phase 3 study evaluating its experimental drug, Vyvgart Hytrulo, in adults with autoimmune myositis met its main goal.The company said the patients treated with the drug showed a statistically significant improvement in mean total improvement score at week 52 compared with placebo.Shares of the biopharmaceutical company surged 18% in Brussels.Eni and Sonatrach have signed a new memorandum of intent focused on decarburization of the oil and gas sector and the reduction of emissions in Algeria, Eni said Monday.The three-year memorandum of intent is dedicated to reducing gas flaring, valorizing recovered gas, and mitigating emissions related to upstream activities in Algeria.Shares of the Italian oil and gas company increased 0.5% in Milan.AstraZeneca said Monday its lung cancer treatment, Tagrisso plus Orpathys, demonstrated a statistically significant and clinically meaningful improvement in survival rates of patients when compared against the standard doublet platinum-based chemotherapy in an ongoing phase 3 trial.The combination drug was administered to patients with epidermal growth factor receptor-mutated non-small cell lung cancer.Separately, AstraZeneca reported its lung-cancer drug Enhertu demonstrated a statistically significant and clinically meaningful improvement in survival rates of patients versus the standard first-line treatment of patients, that is platinum-pemetrexed doublet chemotherapy plus pembrolizumab, in an ongoing phase 3 trial.Shares of AstraZeneca gained 0.6% in London.

Japan35d ago

US Equity Futures Mixed Pre-Bell as 60-Day US-Iran Ceasefire Expires

US equity futures were mixed pre-bell Monday as the fragile ceasefire between the US and Iran reaches its expiration date after 60 days, with the two nations still locked in a stalemate.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.5% higher.Vessels transiting the Strait of Hormuz dropped over the weekend at five ships compared with 31 in the previous weekend, according to a Reuters report that cited data from analytics firm Kpler.Iran's foreign minister Abbas Araghchi said that the nation has not yet decided to restart talks with the US, according to multiple reports. President Donald Trump reiterated in a post on Truth Social that Iran "cannot have, in any way, shape, or form, a Nuclear Weapon."Expected to report financial results this week are Walmart (WMT), Home Depot (HD), Analog Devices (ADI), Alibaba Group (BABA), The TJX Companies (TJX), and Lowe's (LOW).Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.9% at $62.12 per barrel and US West Texas Intermediate crude 2% lower at $58.28 per barrel.The August Empire State manufacturing index, slated for release at 8:30 a.m. ET, is seen coming in at 10.0 versus 15.6 previously, according to estimates compiled by Bloomberg. The August US housing market index, slated for 10 am ET, is expected at 33, compared with 34 from the prior month.

Dow JonesNasdaq CompositeS&P 500$ADI$BABA$HD$LOW$TJX$WMT

Japan38d ago

US Equity Markets End Lower Amid Weak Retail Sales Data, Rise in Crude Oil Prices

US equity indexes ended lower Friday amid a drop in retail sales and after crude oil prices rose following the US plan to impose unprecedented economic measures against Iran.* Retail sales fell 0.6% amid declines in spending on motor vehicles and at gas stations, following a 0.2% increase in June, the Census Bureau reported Friday. This compares with 0.1% growth expected in a Bloomberg analyst survey.* The US will soon announce unprecedented economic measures against Iran, Treasury Secretary Scott Bessent said, intensifying the Trump administration's effort to force Tehran's capitulation after almost six months of war, according to a Bloomberg report.* September West Texas Intermediate crude oil rose $1.05 to settle at $82.30 per barrel, while October Brent crude, the global benchmark, was last seen up $1.42 at $88.49.* Nebius (NBIS) has signed an agreement with Vantage Data Centers to deploy high-density artificial intelligence infrastructure powered by Nvidia (NVDA) at Vantage's CWL1 data center campus in Wales, the companies said Thursday. Shares of Nebius were up about 8.8%, the top gainer on the Nasdaq.* Applied Materials (AMAT) shares were down about 5.2%, among the worst performers on the S&P 500, after the company reported late Thursday lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.

Dow JonesNasdaq CompositeS&P 500$AMAT$NBIS$NVDA

Japan38d ago

Update: US Equity Indexes Fall After Retail Sales Drop Most in 14 Months, Crude Oil Rises as Iran Warned Against Economic Pain

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes fell after retail sales posted the steepest drop since May 2025, and crude oil rose amid the Trump administration's plans to impose unprecedented economic pain on Iran.The Nasdaq Composite fell 0.4% to 26,704.3, the S&P 500 slipped 0.2% to 7,785.4 and the Dow Jones Industrial Average declined 0.1% to 53,770.8 ahead of Friday's close.Retail sales slid 0.6% amid declines in spending on motor vehicles and at gas stations, following a 0.2% increase in June, the Census Bureau reported Friday. The consensus was 0.1% growth, according to a survey compiled by Bloomberg.The probability of the Federal Reserve extending its policy pause to September jumped to 67% by Friday afternoon, from 56% a week ago, according to the CME FedWatch tool, building on gains after data this week showed consumer and wholesale price inflation rates, both headline and core, declined year over year in July.The US will soon announce unprecedented economic measures against Iran, Treasury Secretary Scott Bessent said, intensifying the Trump administration's effort to force Tehran's capitulation after almost six months of war, according to a Bloomberg report."Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country," Bessent was cited as saying in an interview with Newsmax on Thursday. The move will be part of a "one-two punch" that includes the continued blockade of Iran's ports, he added.Crude oil futures rose, with the front-month US West Texas Intermediate contract climbing 1.4% to $82.36 per barrel and the global benchmark North Sea Brent jumping 1.7% to $88.54 per barrel.

Dow JonesNasdaq CompositeS&P 500

Japan38d ago

Update: US Equity Indexes Decline as Retail Sales Drop Most in 14 Months

(Updates with index/price moves, macroeconomic data, and geopolitical news from the first paragraph.)US equity indexes fell after retail sales unexpectedly slumped in July, registering the largest monthly drop since May 2025.The Nasdaq Composite fell 0.4% to 26,702.5, the S&P 500 slipped 0.2% to 7,787.5 and the Dow Jones Industrial Average declined 0.2% to 53,730.7 after midday Friday.Retail sales slid 0.6% amid declines in spending on motor vehicles and at gas stations, following a 0.2% increase in June, the Census Bureau reported Friday. The consensus was 0.1% growth, according to a survey compiled by Bloomberg."American consumers took a breather last month, despite the tailwind from rising equity markets," BMO Capital Markets Senior Economist Sal Guatieri said in a separate note. "This, together with a weaker jobs report and subdued core (consumer price index) inflation, raise the odds of the (Federal Open Market Committee) staying patient again in September."The University of Michigan's preliminary consumer sentiment index fell to 51.0 in August from 55.2 in July, below expectations for a much smaller decrease to 55.0 in a Bloomberg-compiled survey.Respondents saw one-year inflation expectations at 4.3%, up from 4.2% in July, while five-year inflation expectations remained at 3.3% for the third straight month.Treasury Secretary Scott Bessent said the US plans to announce measures on Iran next week that have "never been seen," CNN reported. US Secretary of Defense Pete Hegseth said the US can sustain its blockade against Iran "indefinitely," Al Jazeera, a Middle Eastern broadcaster, reported.The front-month US West Texas Intermediate crude oil contract edged up 0.4% to $81.57 per barrel and the global benchmark North Sea Brent climbed 0.7% to $87.69 per barrel.

Dow JonesNasdaq CompositeS&P 500

Japan38d ago

US Equity Futures Mixed Pre-Bell Friday Following Record-High Overnight Close for S&P 500

US equity futures were mixed pre-bell Friday after a record-high overnight close for the S&P 500.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.2% higher.The S&P 500 hit an intraday all-time high of 7,816.70 on Thursday before closing at 7,798.99, which was also an all-time high.US Defense Secretary Pete Hegseth said the US can keep the naval blockade on Iran "indefinitely," according to multiple media reports. US Treasury Secretary Scott Bessent said that the US planned to apply measures on the Middle Eastern nation that have "never been seen" before, including economic isolation, according to reports that cited an interview on Newsmax.Oil prices were slightly higher, with front-month global benchmark North Sea Brent crude up 0.1% at $87.10 per barrel and US West Texas Intermediate crude 0.3% higher at $81.50 per barrel.The July retail sales report, slated for 8:30 am ET, is forecast to show a 0.1% increase following a 0.2% gain in the previous month, according to estimates compiled by Bloomberg.The University of Michigan consumer sentiment index for August, slated for 10 am ET, is expected at 55.0, down from 55.2 previously.

Dow JonesNasdaq CompositeS&P 500

Japan38d ago

Gold Futures Slip 0.2% to $4,413.0 Per Ounce, Silver Futures Edge 0.1% Lower to $65 Per Ounce Early Friday

Japan38d ago

Gold, Silver Futures Fall Early Friday as Oil Rebounds, Treasury Secretary Bessent Talks of Maximum Economic Pressure on Iran

Japan38d ago

WTI Front-Month Futures Jump 1.2% to $82.20, Brent Futures Advance 0.7% to $87.70 Early Friday

Japan38d ago

Brent, WTI Futures Rise Pre-Bell as US Eyes 'Indefinite' Naval Blockade of Iran to Inflict Maximum Economic Pressure

Japan39d ago

US Equity Markets End Higher Amid Weak Producer Inflation Print, Drop in Crude Oil Prices

US equity indexes ended higher Thursday after a weak producer price inflation report and a drop in crude oil prices.* The Producer Price Index held steady in July, following a 0.1% decrease in June, versus the 0.2% gain expected in a Bloomberg-compiled survey.* US commercial crude oil inventories increased by a staggering 17.4 million barrels in the week ended Aug. 7, the Energy Information Administration said in its weekly report on Wednesday.* September West Texas Intermediate crude oil fell $1.99 to settle at $81.28 per barrel, while October Brent crude, the global benchmark, was last seen down $1.93 at $87.05 after the International Energy Agency projected global demand to contract by 1.6 million barrels per day this year.* Workday (WDAY) is in talks to be acquired by private equity firm Silver Lake, Reuters reported Thursday. Shares of the company were up roughly 18%, the top gainer on the S&P 500 and Nasdaq.* Tapestry (TPR) shares were down nearly 16%, the worst performer on the S&P 500, after the company issued a full-year outlook below analyst estimates at the midpoint on Thursday, after reporting stronger-than-expected fiscal Q4 earnings.

Dow JonesNasdaq CompositeS&P 500$TPR$WDAY

Japan39d ago

Update: S&P 500 Scales New Peak as Weak Wholesale Inflation Report Lifts Odds of Fed's Policy-Pause Extension

(Updates with index/price moves from the first paragraph.)US equity indexes rose, with the S&P 500 hitting a new high, after a soft producer price inflation report increased the probability of a sixth consecutive monetary policy pause in September, and crude oil prices slumped.The Nasdaq Composite rose 0.9% to 26,838.1, and the S&P 500 climbed 0.7% to 7,803.9 ahead of Thursday's close. The Dow Jones Industrial Average edged up 0.1% to 53,844.5, clawing out of intraday declines. The S&P 500 hit 7,816.70, its highest intraday level ever.Communication services, real estate and technology topped the gainers, while materials led decliners.The Producer Price Index held steady in July, following a 0.1% decrease in June, versus the 0.2% gain expected in a Bloomberg-compiled survey. Energy prices fell by 3.1% in the month amid a 9.8% slide in natural gas liquids, a 6.7% slump in diesel fuel, and a 5.7% drop in gasoline prices. Excluding food and energy, core PPI climbed 0.2%, still below the 0.3% gain anticipated and a 0.4% increase in June.Annually, PPI was up 4.7% in July, and core PPI increased by 4.2%, both slowing from June.The probability of the Federal Reserve extending its policy pause to September jumped to 65% on Thursday, from 59% a day ago and 45% a week earlier, according to the CME FedWatch tool.Among companies with market capitalizations exceeding $200 billion each, eight of the top 10 by returns were in the technology sector after midday Thursday, according to data compiled by Finviz. Sandisk (SNDK), the leader of this pack with a 14% surge in the final leg of trading, said it expects revenue growth in the mid-to-high-teens over fiscal 2028 through fiscal 2030.Meanwhile, the front-month US West Texas Intermediate crude oil contract dropped 2.5% to $81.23 per barrel, and global benchmark North Sea Brent declined 2.2% to $87.06 per barrel as traders weighed a downbeat demand-supply dynamic and a continuing stalemate in the Iran war.

Dow JonesNasdaq CompositeS&P 500$SNDK

Japan39d ago

Update: US Equity Indexes Mixed as Soft Wholesale Inflation Helps Lift Bets for Fed Policy Pause

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes traded mixed after a soft producer price inflation print boosted the odds of a monetary policy pause for the sixth consecutive time, while crude oil prices declined.The Nasdaq Composite rose 0.6% to 26,736.2, and the S&P 500 climbed 0.4% to 7,781.4 after midday Thursday. The Dow Jones Industrial Average fell 0.1% to 53,697.7 as a sharp sell-off in Cisco (CSCO) weighed on the equal-weighted index.Real estate and technology topped gainers, while industrials and materials led decliners.Cisco slumped 8.3%, one of the worst performers in the Dow, the S&P 500 and the Nasdaq. The tech giant reported flat fiscal Q4 services revenue at $3.79 billion, missing the FactSet-polled consensus of $3.81 billion. On a non-GAAP basis, product gross margin fell to 64.8% from 67.5% a year ago, weighing on total gross margin.The Producer Price Index held steady in July, following a 0.1% decrease in June, versus the 0.2% gain expected in a Bloomberg-compiled survey, amid sliding energy and food prices. Excluding food and energy, core PPI climbed 0.2%, below the 0.3% gain anticipated and a 0.4% increase in June.The probability of the Federal Reserve extending its policy pause to September jumped to 66% on Thursday, from 59% a day ago and 45% a week earlier, according to the CME FedWatch tool.US Treasury yields fell, with the 10-year yield down 4.9 basis points to 4.64% and the two-year lower by 5.4 basis points to 4.15%.The front-month US West Texas Intermediate crude oil contract dropped 1.4% to $82.15 per barrel, and global benchmark North Sea Brent declined 1.2% to $87.95 per barrel.The Strait of Hormuz is "under Iran's control and management," the recently appointed head of Iran's Basij paramilitary unit said Thursday, a day after US President Donald Trump said the US had "total control" of the waterway, Reuters reported.

Dow JonesNasdaq CompositeS&P 500$CSCO

Japan39d ago

US Equity Futures Rise Slightly Pre-Bell as Traders Await Further Inflation Data

US equity futures were edging slightly higher pre-bell Thursday as traders awaited another key inflation report, after yesterday's July consumer inflation reading matched forecasts.Dow Jones Industrial Average futures were 0.27% higher, S&P 500 futures were up 0.26%, and Nasdaq futures were 0.07% higher.The July consumer price index rose 0.1% as expected, following a 0.4% decline in the previous month, according to data released by the Bureau of Labor Statistics on Wednesday.The US and Iran have made no progress on talks to revive the interim peace deal made in June, Reuters reported Wednesday, citing a senior Iranian source. President Donald Trump said in a post on Truth Social that the US has "total control" over the Strait of Hormuz, to which Iran responded that the waterway is "under Iran's control and management."Traders also digested the latest round of earnings, with Cisco Systems (CSCO) posting higher fiscal Q4 adjusted earnings and revenue.Applied Materials (AMAT) is expected to report its fiscal Q3 earnings after the market closes. Analysts polled by FactSet expect earnings of $3.40 per share on revenue of $9 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.78% at $87.40 per barrel and US West Texas Intermediate crude 2.07% lower at $81.55 per barrel.The July Producer Price Index, scheduled for release at 8:30 am ET, is expected to gain 0.2% following a 0.3% decrease in the preceding month, according to estimates compiled by Bloomberg.The weekly jobless claims bulletin is expected to show 202,000 new unemployment claims for the week ended Aug. 8, up from 199,000 in the prior week.Federal Reserve Cleveland President Beth Hammack, Richmond President Thomas Barkin, and Atlanta Fed Interim President Cheryl Venable are slated to speak on Thursday.

Dow JonesNasdaq CompositeS&P 500$AMAT$CSCO

Showing 101-120 of 781

Japan35d ago