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Update: US Equity Indexes Mixed Amid Reports Iran, Oman Reach Hormuz Route Agreement

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes traded mixed amid a sharp sell-off in communication services and reports that Iran and Oman have agreed on a proposed shipping route through the Strait of Hormuz, the chokepoint for about a fifth of global oil and natural gas flows.The Nasdaq Composite fell 0.6% to 26,444.8, and the S&P 500 slipped 0.1% to 7,727.6 after midday Wednesday. The Dow Jones Industrial Average rose 0.8% to 54,511.2. Both the S&P 500 and the Dow scaled new peaks for a second straight day earlier in the session.Communication services, energy and utilities led decliners. Materials and healthcare topped gainers.Iran said it has reached a deal with Oman on a proposed shipping route through the Strait of Hormuz, a potential step toward a reopening of the waterway for energy supplies, Bloomberg reported Wednesday.A joint statement from the two countries is in the final drafting stage, Iran's foreign ministry spokesman Esmail Baghaei was cited as saying Wednesday, Bloomberg reported. Talks between Iran and Oman are "forward-moving," and an agreement would be struck "if certain third parties do not obstruct this process," Baghaei was cited as saying, according to the report.The front-month US West Texas Intermediate crude oil slipped 0.4% to $75.48 a barrel, and global benchmark North Sea Brent edged up 0.1% to $79.44 a barrel.SpaceX (SPCX) reported Q2 capital expenditures of $18.37 billion, up from $2.83 billion a year ago, taking the shine off a narrower-than-expected loss and above-consensus revenue growth. Shares slumped 8%, among the worst performers on the Nasdaq.Shares of Advanced Micro Devices (AMD) dropped 5.5%, one of the steepest decliners on the Nasdaq, after analysts, in a post-earnings conference call late Tuesday, raised questions about the chipmaker's gross margin trajectory. The company reported fiscal Q2 adjusted earnings and revenue above market expectations, and Q3 sales guidance beat consensus.

Dow JonesNasdaq CompositeS&P 500$AMD$SPCX

Japan47d ago

Potential Strait of Hormuz Deal Buoys US Equity Futures Pre-Bell

US equity futures were edging higher pre-bell Wednesday on optimism for a potential deal to reopen the Strait of Hormuz.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.2% higher.President Donald Trump said that the US had "very good discussions" with Iran, with the agreement to reopen the Strait of Hormuz potentially happening soon. An Axios report citing two regional sources said that the US, Iran, and Oman were nearing an interim agreement regarding the waterway.Meanwhile, US Central Command said in a post on X that the strait "remains free and open for all commercial vessels seeking to transit."Traders digested the latest round of earnings, with SpaceX (SPCX) reporting a narrower loss and higher revenue for Q2.Sandisk (SNDK) is expected to report its fiscal Q4 earnings after the market closes. Analysts polled by FactSet expect earnings of $34.96 per share on revenue of $8.48 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up nearly 1% at $80.10 per barrel and US West Texas Intermediate crude 0.3% higher at $76.03 per barrel.The ADP employment report for July, expected at 8:15 am ET, is seen showing an increase of 65,000 from 98,000 in the prior month, according to estimates compiled by Bloomberg.The S&P Global purchasing managers' index composite final report for July is due at 9:45 am ET, followed by ISM's services data at 10:00 am ET.Federal Reserve Governor Lisa Cook and San Francisco Fed President Mary Daly are slated to speak on Wednesday.

Dow JonesNasdaq CompositeS&P 500$SNDK$SPCX

Japan48d ago

US Equity Markets End Higher as Tech Stocks Rise, Crude Oil Falls on Hormuz Reopening Talks

US equity indexes ended higher Tuesday amid gains in technology stocks following recent earnings reports and as crude oil prices dropped further after Iran confirmed talks to reopen the Strait of Hormuz.* Iranian Foreign Ministry spokesman Esmaeil Baghaei said Iran and Oman are continuing talks aimed at ensuring the safe flow of traffic through the Strait of Hormuz, Al Jazeera reported. Qatar said a proposal had been drafted and US Treasury Secretary Scott Bessent sounded hopeful on a US-Iran agreement to reopen the Strait, Bloomberg reported.* US job openings fell to 7.359 million in June according to the Bureau of Labor Statistics, below the 7.454 million openings expected in a survey compiled by Bloomberg* New orders for US factory goods fell by 0.3% in June, versus expectations for a 0.2% increase in a Bloomberg-compiled survey and a revised 1.1% decrease in May.* September West Texas Intermediate crude oil fell $4.51 to settle at $75.83 per barrel, while September Brent crude, the global benchmark, was last seen down $4.38 at $79.39.* Palantir Technologies (PLTR) stock was up nearly 30%, the top gainer on the S&P 500 and the Nasdaq, after higher Q2 results surpassed analysts' estimates and the company raised its full-year 2026 revenue outlook.* Aptiv (APTV) shares were down nearly 17%, the worst performer on the S&P 500, after Q2 sales missed consensus and the company also cut its full-year 2026 outlook.

Dow JonesNasdaq CompositeS&P 500$APTV$PLTR

Japan48d ago

Update: US Equity Indexes Surge as Technology Leads Amid Strong Earnings While Iran Deal Optimism Pushes Crude Oil Lower

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes jumped as earnings helped propel technology to the top of sector charts, while a slide in crude oil and government bond yields reflected optimism that the Strait of Hormuz could soon reopen.The Nasdaq Composite surged 2.8% to 26,641.2, with the S&P 500 up 2% to 7,750.3 and the Dow Jones Industrial Average higher by 1.9% to 54,208.5 ahead of Tuesday's close. The S&P 500 and the Dow touched their respective 52-week highs earlier in the session. Technology was the standout gainer, followed by materials and industrials. Energy led decliners.Palantir Technologies (PLTR) surged 29%, the top gainer on the S&P 500 and the Nasdaq, after Q2 sales and adjusted earnings surpassed analysts' estimates and the company, one of the most prominent names in the artificial intelligence industry, boosted its full-year 2026 revenue outlook.VanEck Semiconductor Exchange-Traded Fund (SMH), with net assets of $77.2 billion, jumped 5.8%.Iranian Foreign Ministry spokesman Esmaeil Baghaei said Iran and Oman are continuing talks aimed at ensuring the safe flow of traffic through the Strait of Hormuz, with discussions focused on designating safe inbound and outbound lanes, Al Jazeera, a Middle Eastern broadcaster, reported. Iran's goal in its talks with Oman "is to set temporary arrangements" - lasting up to three months - where Tehran can control a route through the strait, an official told CNN.Iran is considering allowing European nations to remove mines from the strait, a potential climbdown that could form part of a deal to normalize shipping in the waterway and ease peace negotiations with the US, Bloomberg reported. US Treasury Secretary Bessent said a deal to open the Strait could come as early as "today or tomorrow," allowing "freedom of movement" for commercial vessels, the news report said.The front-month US West Texas Intermediate crude oil fell 5.7% to $75.76 a barrel, and global benchmark North Sea Brent slid 5.2% to $79.37 a barrel.US Treasury yields dropped, with the 10-year down 5.7 basis points to 4.63%. The two-year yield slid 5.4 basis points to 4.20%.

Dow JonesNasdaq CompositeS&P 500$PLTR$SMH

Japan48d ago

Update: US Equity Indexes Jump as Earnings Help Technology Top Sector Charts, Iran Deal Optimism Grows

US equity indexes rose as earnings helped boost technology while a slide in crude oil and government bond yields added to confidence that Iran is nearing a deal that would reopen the Strait of Hormuz.The Nasdaq Composite jumped 2.1% to 26,458.2, with the S&P 500 up 1.5% to 7,711.4 and the Dow Jones Industrial Average higher by 1.7% to 54,078.7. The S&P 500 and the Dow touched their respective 52-week highs intraday. Technology was the standout gainer, followed by materials and industrials. Utilities and real estate led decliners.Palantir Technologies (PLTR) surged 26%, the top gainer on the S&P 500 and the Nasdaq, after Q2 sales and adjusted earnings surpassed analysts' estimates and the company, one of the most prominent names in the artificial intelligence industry, boosted its full-year 2026 revenue outlook.VanEck Semiconductor Exchange Traded Fund (SMH), with net assets of $77.2 billion, jumped 4.2%.The prospect of a US-Iran deal appeared to be gaining traction on Tuesday, after Qatar said a proposal had been drafted and US Treasury Secretary Scott Bessent sounded hopeful on an agreement to reopen the Strait of Hormuz, Bloomberg reported.US Treasury Secretary Bessent said a deal to open the Strait could come as early as "today or tomorrow," allowing "freedom of movement" for commercial vessels, Al Jazeera, a Middle Eastern broadcaster, reported.The front-month US West Texas Intermediate crude oil fell 4.5% to $76.74 a barrel, and global benchmark North Sea Brent slid 4% to $80.42 a barrel.US Treasury yields dropped, with the 10-year down 4.3 basis points to 4.64%. The two-year yield slid 5.2 basis points to 4.2%.

Dow JonesNasdaq CompositeS&P 500$PLTR$SMH

Japan48d ago

Correction: US Equity Markets End Higher Monday as Crude Oil Falls on US-Iran's New Round of Talks

(Corrects the direction of Microsoft's stock move in the sixth paragraph.)US equity indexes ended higher Monday as crude oil prices fell after President Donald Trump said the US and Iran plan to start another round of talks.* Trump said that the United States and Iran will hold new discussions Monday afternoon, calling off new strikes to allow for a deal following requests from allied countries. Trump later called the Iranian leadership "unbelievably duplicitous" for requesting peace talks and then saying "they're not having any discussions."* The Institute for Supply Management's US manufacturing index rose to 55.6 in July from 53.3 in June, compared with expectations for 53.9 in a Bloomberg-compiled survey.* The S&P Global US manufacturing index for July was revised upward to 53.9 from the flash reading of 53.8, compared with expectations for no revision in a survey compiled by Bloomberg.* September West Texas Intermediate crude oil fell $4.52 to settle at $80.18 per barrel, while September Brent crude, the global benchmark, was last seen down $4.20 at $83.73.* Microsoft (MSFT) shares were up 4.9%, among the best performers on Nasdaq and the Dow, after ArcelorMittal (MT) expanded its partnership with Microsoft to implement AI tools in its business processes. Separately, Microsoft is raising Xbox prices in the EU and the UK by up to 200 euros ($230.10) and 170 pounds ($228.33), respectively, The Verge reported.* Marriott International (MAR) shares were down roughly 7%, among the worst performers on the Nasdaq and the S&P 500, after the company reported Q2 revenue below estimates amid headwinds from the Middle East conflict, and offered a downbeat Q3 earnings outlook.

Dow JonesNasdaq CompositeS&P 500$MAR$MSFT$MT

Japan48d ago

Palantir Earnings Beat, Tech Stock Rally Lift US Equity Futures Pre-Bell

US equity futures were higher pre-bell Tuesday as technology-related stocks were on the upswing, highlighted by a Q2 beat-and-raise from Palantir Technologies (PLTR).Dow Jones Industrial Average futures were 0.8% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.9% higher.Palantir shares were up more than 15% in pre-market activity after the company posted Q2 adjusted earnings and revenue that surpassed analysts' estimates, as well as boosting its full-year 2026 revenue outlook.President Donald Trump said late Monday that Exxon Mobil (XOM) and Chevron (CVX) had made "too much money" off higher oil prices and told them to "give some of that back to the public," multiple media outlets reported.SpaceX (SPCX) is expected to report its Q2 earnings after the market closes. Analysts polled by FactSet expect a loss of $0.23 per share on revenue of $6.83 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.6% at $82.35 per barrel and US West Texas Intermediate crude 2.5% lower at $78.30 per barrel.The international trade in goods report for June, scheduled for release at 8:30 am ET, is expected to post a deficit narrowing to $73.0 billion from $77.6 billion in the prior month, according to estimates compiled by Bloomberg.June factory orders, due at 10 am ET, are expected to have gained 0.2%, compared with a decline of 1.3% previously. June job openings from the US Department of Labor's Job Openings and Labor Turnover Survey are expected at 7.454 million, compared with 7.594 million in the prior month.

Dow JonesNasdaq CompositeS&P 500$CVX$PLTR$SPCX$XOM

Japan49d ago

South Korean Stocks Rebound as Retail Buying Offsets AI, Middle East Concerns

South Korean shares closed higher on Tuesday as retail investors went on a buying spree after the previous session's more than 5% plunge on profit-booking.A positive lead from overnight gains on Wall Street boosted sentiment, despite gains being limited by ongoing concerns over AI spending and tensions in the Middle East.The Korea Composite Stock Price Index, or Kospi, increased by 101.5 points, or 1.6%, to end at 6,358.95. The Kosdaq also rose by 43.37 points, or 5.9%, to close at 780.72.In economic news, South Korea's annual inflation rate decelerated to 2.8% in July from 3.2% in June, according to data from the Ministry of Data and Statistics published Tuesday.The latest print was lower than the consensus forecast of 3%, according to Investing.com.On a monthly basis, the all-items consumer price index was down 0.2%, reversing the 0.1% increase between May and June.Meanwhile, the country's core inflation rate, which excludes food and energy prices, rose to 2.6% from 2.5% in June.In corporate news, KG Mobility (KRX:003620) secured an investment of $75 million from China's Chery Automobile (HKG:9973) to boost technology cooperation and partnership, according to a Monday release from the South Korean automaker.The investment builds on a 2024 platform licensing agreement and a 2025 joint development deal for mid-to-large sports utility vehicles (SUVs).Shares of KG Mobility jumped 6% at market close in Seoul, while those of Chery declined over 3% in Hong Kong.

^KOSDAQKOSPIHKG:9973KRX:003620

Japan49d ago

US Equity Markets End Higher as Crude Oil Falls on US-Iran's New Round of Talks

US equity indexes ended higher Monday as crude oil prices fell after President Donald Trump said the US and Iran plan to start another round of talks.* Trump said that the United States and Iran will hold new discussions Monday afternoon, calling off new strikes to allow for a deal following requests from allied countries. Trump later called the Iranian leadership "unbelievably duplicitous" for requesting peace talks and then saying "they're not having any discussions."* The Institute for Supply Management's US manufacturing index rose to 55.6 in July from 53.3 in June, compared with expectations for 53.9 in a Bloomberg-compiled survey.* The S&P Global US manufacturing index for July was revised upward to 53.9 from the flash reading of 53.8, compared with expectations for no revision in a survey compiled by Bloomberg.* September West Texas Intermediate crude oil fell $4.52 to settle at $80.18 per barrel, while September Brent crude, the global benchmark, was last seen down $4.20 at $83.73.* Microsoft (MSFT) shares were down about 4.9%, among the worst performers on Nasdaq and the Dow, after ArcelorMittal (MT) expanded its partnership with Microsoft to implement AI tools in its business processes. Separately, Microsoft is raising Xbox prices in the EU and the UK by up to 200 euros ($230.10) and 170 pounds ($228.33), respectively, The Verge reported.* Marriott International (MAR) shares were down roughly 7%, among the worst performers on the Nasdaq and the S&P 500, after the company reported Q2 revenue below estimates amid headwinds from the Middle East conflict, and offered a downbeat Q3 earnings outlook.

Dow JonesNasdaq CompositeS&P 500$MAR$MSFT$MT

Japan49d ago

Update: US Equity Indexes Jump as Communication Services Rally While Crude Oil Slides With Treasury Yields

US equity indexes rose amid strong gains in communications services and a slide in government bond yields, coupled with a drop in crude oil futures, supporting President Donald Trump's version of the state of Iran peace negotiations.The Nasdaq Composite jumped 2.2% to 25,939.2, with the S&P 500 up 1.6% to 7,608.5 and the Dow Jones Industrial Average higher by 1.4% to 53,195.4 ahead of Monday's close.Communication services surged 4.6%, topping sector charts, followed by a rise in consumer discretionary and technology. Energy and consumer staples led decliners.President Donald Trump said his latest offer of talks is a "last chance" for Iran after he called off what he said was a major attack on the Islamic Republic, Bloomberg reported."I want to give them every last chance before decapitation," Trump told reporters in the Oval Office, according to Bloomberg. "You'll find out today or tomorrow. I mean, they're going to go quickly, one way or the other. It's not very complex."Iran's Foreign Ministry Spokesman Esmaeil Baghaei said no negotiations with the US were underway and no meetings were scheduled, Reuters reported.Oman and Iran have been negotiating over a new maritime route through the Strait of Hormuz, which borders both their territorial waters, Al Jazeera, a Middle Eastern broadcaster, reported. Sunday night, Iran's Foreign Minister Abbas Araghchi told the Iranian cabinet in a report that negotiations between Tehran and Muscat were "on the way to being finalized".The front-month US West Texas Intermediate crude oil slumped 5.2% to $80.26 a barrel, and global benchmark North Sea Brent dropped 4.6% to $83.85 a barrel.Most US Treasury yields declined, with the 10-year trading down 5.7 basis points to 4.69%, retreating from the 52-week high touched late last week. The two-year yield dropped 3.5 basis points to 4.26%.

Dow JonesNasdaq CompositeS&P 500

Japan49d ago

Update: Communication Services, Consumer Discretionary Lift US Equity Indexes in Midday Trading

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes rose amid strong gains in communications services, while a slide in government bond yields accompanied a drop in crude oil futures.The Nasdaq Composite jumped 1.9% to 25,851.3, with the S&P 500 up 1.2% to 7,581.1 and the Dow Jones Industrial Average higher by 1.1% to 53,038.6.In a social media post over the weekend, Trump said he canceled a planned attack against Iran after being asked by Tehran and other Middle Eastern countries to hold off because the "perimeters of a deal has been agreed to." The proposed deal would include the "immediate, complete, and total opening" of the Strait of Hormuz, Trump wrote.However, Iran's Foreign Ministry Spokesman Esmail Baghaei rejected Trump's claim, saying no negotiations with the US were underway and no meetings were scheduled, Reuters reported. Iran has no plans to host foreign delegations or send negotiators abroad in the coming days, the news report cited Baghaei as saying.Nevertheless, the front-month US West Texas Intermediate crude oil slumped 5.9% to $79.72 a barrel, and global benchmark North Sea Brent dropped 4.6% to $83.88 a barrel.Most US Treasury yields declined, with the 10-year trading down 5.9 basis points to 4.69%, retreating from the 52-week high touched late last week. The two-year yield dropped 3.5 basis points to 4.26%.Alibaba (BABA) said it launched Qwen3.8-Max, its latest large language model, and plans to release the model's open weights next week alongside Qwen3.8-27B.

Dow JonesNasdaq CompositeS&P 500$BABA

Japan49d ago

Middle East Diplomacy Optimism, Oil Price Decline Lift US Equity Futures Pre-Bell

US equity futures were higher pre-bell Monday as the US moved toward diplomacy in its war with Iran and oil prices fell.Dow Jones Industrial Average futures were 1.1% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 0.3% higher.President Donald Trump said in a post Sunday on Truth Social that he had cancelled an attack on Iran. "We have just been asked by Iran, and other Middle Eastern Countries, to hold off any attack in that the perimeters of a deal has been agreed to," Trump said, adding that the deal would include the complete opening of the Strait of Hormuz and "an end to Iran's nuclear threat."Palantir Technologies (PLTR) is expected to report its Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $0.34 per share on revenue of $1.81 billion.Expected to report later in the week are SpaceX (SPCX), Advanced Micro Devices (AMD), Sandisk (SNDK), Western Digital (WDC), Caterpillar (CAT), ConocoPhillips (COP), Eli Lilly (LLY), Uber Technologies (UBER), and Berkshire Hathaway (BRK.A, BRK.B).Oil prices were lower, with front-month global benchmark North Sea Brent crude down 5.2% at $83.35 per barrel and US West Texas Intermediate crude 6.2% lower at $79.45 per barrel.The final S&P Global manufacturing purchasing managers index for July, due at 9:45 am ET, is seen at 53.8, unchanged from its prior value, according to estimates compiled by Bloomberg.The July Institute for Supply Management's manufacturing index, due at 10 am ET, is projected at 53.9, up from 53.3 in the previous month. The June construction spending report is also due at 10 am ET.

Dow JonesNasdaq CompositeS&P 500$AMD$BRK.A$BRK.B$CAT$COP$LLY$PLTR$SNDK$SPCX$UBER$WDC

Japan49d ago

WTI Crude Oil Futures Slump 5.2% to $80.25, Brent Crude Oil Futures Slide 4.2% to $84.24 Early Monday

Japan49d ago

US Equity Futures Rise Pre-Bell, Crude Oil Sinks as Trump Declares Iran Talks to Resume Monday After Calling Off Strikes

Japan49d ago

Brent, WTI Crude Futures Sink Pre-Bell After Trump Calls Off Iran Strikes, Says Talks to Resume Monday

Japan52d ago

US Equity Markets End Higher on Amazon's Profit Surge, Communications Services Rally

US equity indexes ended higher Friday after Amazon.com's (AMZN) Q2 profit soared and the communication-services sector rallied.* Amazon's shares rose 15%, the top gainer on the S&P 500, a day after the e-commerce giant's Q2 results topped Wall Street's estimates on cloud-computing business strength.* A University of Michigan survey showed respondents expect a 4.2% inflation rate over the next year, down from 4.6% in June, and 3.3% annual inflation over the next five years.* The University of Michigan consumer sentiment index was revised upward to 55.2 for July from 54.4 in the preliminary estimate, compared with expectations for a downward revision to 54.0 in a survey compiled by Bloomberg.* The quarterly US employment cost index rose by 0.9% in Q2, in line with the previous quarter, the US Bureau of Labor Statistics reported. That topped the consensus estimate of a 0.8% gain in a Bloomberg survey.* September West Texas Intermediate crude oil rose $1.20 to settle at $84.79 per barrel, while September Brent crude, the global benchmark, was last seen up $1.06 at $90.09.* Apple (AAPL) shares fell 7.4%, the biggest drop on the Nasdaq, a day after the company missed market estimates for iPad and services revenue in fiscal Q3.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN

Japan52d ago

Update: US Equity Indexes Rise Amid Amazon-Fueled Gains in Consumer Discretionary While Crude Oil Trades Off Session Highs

(Updates with index/price moves, macroeconomic data and geopolitical news from the first paragraph.)US equity indexes rose following a lift by standout gainers consumer discretionary and communication services, and as President Donald Trump signaled an agreement between Israel and militant group Hamas.The Nasdaq Composite rose 1.1% to 25,396.2, with the S&P 500 up 0.8% to 7,499.1 and the Dow Jones Industrial Average higher by 0.7% to 52,590.6 ahead of Friday's close.Consumer discretionary catapulted 6%, and communication services soared 4.3%, outweighing a retreat led by materials in the final leg of trading.Amazon's (AMZN) web services cloud-computing unit reported overnight the fastest sales growth in 18 quarters, helping the e-commerce giant handily exceed market expectations for Q2 earnings and revenue. Shares soared 15%, the top gainer on the S&P 500, the Nasdaq, and the Dow, even as the retailer expanded its full-year 2026 capital expenditure guidance by about $20 billion to $220 billion.Apple (APPL), meanwhile, sank 8.4%, among the worst performers on the S&P 500, the Nasdaq, and the Dow. The company missed market estimates for iPad and services revenue overnight in fiscal Q3, after recently raising prices for MacBooks and iPads amid surging memory and storage chip costs.In geopolitical news, President Donald Trump said the US has an "understanding" with Israel to start implementing an agreement in Gaza that would require Israeli forces to withdraw and Hamas to give up its weapons, a critical step in implementing a multi-phase peace plan to end the war, according to CNN.A senior Hamas official told CNN that the militant group had agreed to the deal with the US-backed Board of Peace, contingent on Israel upholding its obligations. Hamas has never before agreed to a specific plan to hand over its weapons, according to CNN.The front-month US West Texas Intermediate crude oil climbed 1.2% to $84.63 a barrel, and global benchmark North Sea Brent advanced 1.2% to $90.12 a barrel. Both crude types traded off their respective session highs.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN

Japan52d ago

Amazon Overperformance Lifts US Equity Futures Pre-Bell Amid Potential Expansion of Mid-East Conflict to Egypt

US equity futures were higher pre-bell Friday as tech stocks, led by Amazon (AMZN), were on the upswing, amid a potential expansion of the Middle East conflict to include Egypt.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 1.1% higher.Amazon stock was up 11% in premarket activity after the tech giant reported better-than-expected Q2 results that highlighted the strength of its cloud-computing business.Egypt reported that a drone strike hit two vessels at the port of Damietta on Wednesday. No party has claimed responsibility for that attack, which is the first one in the country's territory since the war between the US and Iran began in late February.Iran said it attacked US assets in Kuwait and Bahrain after the recent wave of US strikes this week, CNBC reported Friday, citing state media.Traders digested the latest round of earnings, with Exxon Mobil (XOM) posting higher Q2 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $88.38 per barrel and US West Texas Intermediate crude 1.5% higher at $84.85 per barrel.The Chicago purchasing managers index for July, due at 9:45 am ET, is seen coming in at 56.0, down from its prior value of 56.7, according to estimates compiled by Bloomberg.The final University of Michigan consumer sentiment report for July, scheduled at 10 am ET, is expected to show consumer sentiment index coming in at 54.0, down from 54.4 in the prior period.

Dow JonesNasdaq CompositeS&P 500$AMZN$XOM

Japan53d ago

US Equity Markets End Higher on Microsoft's Cloud Gains, Semiconductor Rebound

US equity indexes ended higher Thursday after Microsoft (MSFT) posted AI-backed gains and semiconductor stocks rebounded.* Microsoft's intelligent-cloud segment's revenue increased 32% to $39.31 billion, buoyed by 43% growth in Azure and other cloud services.* The personal consumption expenditures price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%.* US initial jobless claims last week rose sequentially to 197,000 from an upwardly revised 188,000, versus expectations for an increase to 200,000 in a Bloomberg poll.* September West Texas Intermediate crude oil fell $0.74 to settle at $83.70 per barrel, while September Brent crude, the global benchmark, was last seen down $1.56 at $89.18.* Chip-related stocks jumped with Sandisk (SNDK) up 26%, the top performer on the S&P 500. Micron Technology (MU), Advanced Micro Devices (AMD) and Intel (INTC) also advanced.* Alnylam Pharmaceuticals (ALNY) shares fell 28%, the biggest drop on the Nasdaq, after the company lowered its full-year 2026 net product revenue guidance.

Dow JonesNasdaq CompositeS&P 500$ALNY$AMD$INTC$MSFT$MU

Japan53d ago

Update: US Equity Indexes Surge as Microsoft's Quarterly Results Spark Rebound in Chipmakers Ahead of Amazon's Earnings

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes soared following a bounce in semiconductors, as investors anchored to Microsoft's (MSFT) quarterly results showing AI monetization while awaiting results from Amazon.com (AMZN) and Apple (AAPL) after the bell.The Nasdaq Composite jumped 2.7% to 25,097.2, the S&P 500 was up 1.6% to 7,435.5, and the Dow Jones Industrial Average climbed 1.2% to 52,231.8 ahead of Thursday's close. Technology was the standout gainer, up 5%.The Microsoft intelligent cloud segment's revenue increased 32% to $39.31 billion, buoyed by 43% growth in Azure and other cloud services, according to the company. Analysts expected a 40% year-over-year advance in Azure sales."This year, Azure revenue surpassed $100 billion for the first time, and Microsoft 365 Copilot reached over 30 million paid seats, reflecting the confidence customers are placing in us to power their (artificial intelligence) transformation," Chief Executive Satya Nadella said in a statement. Shares of Microsoft soared 17%, one of the top gainers on the S&P 500, Nasdaq, and the Dow.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, soared 6.7%, as chipmakers are major beneficiaries of AI-related spend. Investors will watch Amazon's AI-related growth in both revenue and spend when it announces quarterly results after the bell.Among companies with a market capitalization of more than $200 billion, six of the top 10 gainers in the final leg of trading were from the semiconductors and semiconductor equipment and materials industries, according to data compiled by Finviz.In economic news, the personal consumption expenditures, or PCE, price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%. The price index rose by 0.5% in May. The core PCE price index climbed 0.1% in June, below the 0.2% gain expected and following a 0.3% growth in May. The year-over-year rate dropped to 3.3% from 3.4%, according to the Bureau of Economic Analysis.US Treasury yields traded mixed, with the 10-year up 4.5 basis points to 4.67%. The two-year was steady at 4.24%.Late Wednesday, the US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to CENTCOM. Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.The front-month US West Texas Intermediate was down 1.1% at $83.55 a barrel, while global benchmark North Sea Brent declined 1.9% to $89.03 a barrel.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$MSFT$SMH

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Japan53d ago

Update: US Equity Indexes Surge as Microsoft's Quarterly Results Spark Rebound in Chipmakers Ahead of Amazon's Earnings

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$MSFT$SMH