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Exchange-Traded Funds Decline, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV edged lower. Actively traded Invesco QQQ Trust (QQQ) shed 2.7%.US equity indexes traded mixed as a rout in heavyweight semiconductor names hit the Nasdaq Composite and the S&P 500 in Tuesday's midday trading.EnergyIShares US Energy ETF and the State Street Energy Select Sector SPDR (XLE) each added about 0.7%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) fell 3.2%; iShares US Technology ETF (IYW) eased 3%, and iShares Expanded Tech Sector ETF (IGM) was down 2.7%.The State Street SPDR S&P Semiconductor (XSD) declined 5.8%, and iShares Semiconductor (SOXX) dipped 7%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 1.1%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 1.2%.CommoditiesCrude oil fell 1.2%, and the United States Oil Fund (USO) slipped 1.5%. Natural gas dropped 3.2%, and the United States Natural Gas Fund (UNG) was down 2.7%.Gold on Comex eased 1.2%, and the State Street SPDR Gold Shares (GLD) fell 1.2%. Silver was down 5.3%, and iShares Silver Trust (SLV) shed 4.6%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 1.6%. The Vanguard Consumer Staples ETF (VDC) added 1.7%, and iShares Dow Jones US Consumer Goods (IYK) was up 1.6%.The State Street Consumer Discretionary Select Sector SPDR (XLY) dipped 0.6%. VanEck Retail ETF (RTH) rose 1%, and the State Street SPDR S&P Retail (XRT) was up 0.7%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 1.2%, iShares US Healthcare (IYH) added 1.2%, and Vanguard Health Care ETF (VHT) was up 1.2%. IShares Biotechnology ETF (IBB) gained 1.6%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) fell 1.2%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) eased 3.2%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 3.2%, ProShares Ether ETF (EETH) was down 4.5%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 2.9% lower.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH

Mining & Metals39d ago

Tartisan Nickel Acquires Nickel-Copper Claims; Outlines 2026 Work Program at Turtle Pond

Tartisan Nickel (TN.CN) on Tuesday said it acquired four additional claims in the Turtle Pond Area in northwestern Ontario.Following the acquisition, the property now includes 170 staked claims covering 3,564 hectares, the company said."The Glatz, Double E and Night Danger nickel-copper showings display similar nickel and copper tenors as what we find near surface at our Kenbridge Nickel-Copper Deposit," said Chief Executive Officer Mark Appleby. "Acquisition of these claims will complement the company's larger objective of developing the Kenbridge Project into an area play. The company has formulated a 2026 Turtle Pond exploration program consisting of trail and access work, geological mapping and surface sampling, with potentially diamond drilling in 2026-27. We will have boots on the ground this summer."Shares of the company were last seen down C$0.01, or 5.5%, to C$0.17 on the Canadian Securities Exchange.Price: $0.17, Change: $-0.01, Percent Change: -5.56%

$TN.CN

Oil & Energy39d ago

EMEA Oil Update: Crude Falls as Strait of Hormuz Risk Eases After US-Iran Deal

EMEA crude futures fell in after-hours trading on Tuesday as markets monitored tanker traffic through the Strait of Hormuz after a peace agreement between Iran and the US to end the Middle East conflict and restore energy flows via the strategic waterway.Brent crude futures retreated by 1.2% to $77 per barrel, while Murban crude futures were down 1.6% to $69.44/bbl.Federal Reserve Bank of Dallas strategists said the supply shock following the Hormuz closure has been more than twice as large as the peak shortfall during the 1973 oil crisis, which was previously the largest recorded disruption to global oil markets.President Trump said in a social media post on Tuesday that 19 million barrels of oil flowed out of the Strait on Monday, while also pointing to falling oil prices. "19 million barrels of oil flowed out of the Hormuz Strait yesterday [Monday], an all-time record," Trump posted, noting, "Oil prices are tumbling down..."Saxo Bank strategists said shipping data showed that millions of barrels of crude and fuel products transited the Strait of Hormuz over the weekend, reinforcing expectations of improving regional supply flows.The latest shipping data shows that more commercial vessels are transiting the strategic waterway with their satellite signals switched on, with Kpler and Marine Traffic noting that confirmed crossings rose from 32 vessels between June 12-14 to 93 vessels between June 19-21, an increase of 61 crossings over the week.Meanwhile, Iran and Oman are working to reach an agreement on the future administration of the Strait, including the cost of managing transit.The two countries, bordering the Hormuz, agreed to establish a joint working group between their foreign ministries to continue discussions on the future framework governing navigation via the Hormuz.Pressuring crude prices, the US on Monday authorized the sale of Iranian oil and fuels as part of an agreement to end the Middle East conflict.The US Treasury Department issued a 60-day license that allows Iran to sell its energy products through Aug. 21 and make payments in US dollars. The waiver also allows for the importation of Iranian crude oil and other petrochemical and petroleum products into the US.The temporary license is expected to accelerate the return of Iranian crude to global markets. Soojin Kim, a research analyst at MUFG, said Gulf producers, including Kuwait, the UAE, and Qatar, are gradually increasing exports and shipping activity as conditions in the Hormuz improve.Marine Traffic said in a post on X that the recovery in shipping flow was supported by recent diplomatic developments and the temporary US Treasury Office of Foreign Assets Control general license, which has helped ease immediate compliance uncertainty around approved Hormuz transits until Aug. 21.Although talks are progressing, Dan Bunkering strategists expect the oil market to face a shortage of barrels for the time being. The analysts view the current price level as "fair" and do not expect a return to the pre-conflict range of $60-70/bbl seen earlier this year.

Sectors39d ago

Sector Update: Financial

Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index increasing 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.4%.The Philadelphia Housing Index added 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) climbed up 1.5%.Bitcoin (BTC-USD) was falling 2.5% to $62,361, and the yield for 10-year US Treasuries was decreasing 3 basis points to 4.479%.In corporate news, Apollo Global Management (APO) has restricted investor redemptions for its private credit fund Apollo Debt Solutions following a surge in share repurchase requests from stakeholders. Apollo shares were down 2.9%.

$APO

Wire39d ago

SPS Commerce Mulls Potential Sale Amid Pressure From Activist Investors, Reuters Reports

$SPSC

Treasury39d ago

US 2-Year Auction High Yield Rises From Previous Month, Demand Unchanged

The US Treasury's 2-year auction hit a high yield of 4.189% on Tuesday, up from the 4.071% high in the previous auction.The bid to cover ratio for the auction was 2.64, the same as in the previous auction.Dealers represented 54.48% of the bids, with direct bidders at 15.66% and indirect bidders at 29.86%.For takedown, dealers took 10.24%, with direct bidders at 34.31% and indirect bidders at 55.45%.

Sectors39d ago

Sector Update: Healthcare

Healthcare stocks rose Tuesday afternoon, with the NYSE Healthcare Index adding 1.4% and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 1.3%.The iShares Biotechnology ETF (IBB) advanced 1.5%.In corporate news, GE HealthCare Technologies (GEHC) is positioned for accelerating growth, driven by improving innovation, order momentum, and backlog, RBC Capital Markets said in a note. RBC started coverage of the company with an outperform rating and an $80 price target. GE HealthCare shares climbed 4.9%.

$GEHC

Mining & Metals39d ago

Luca Mining Says Latest Campo Morado Drilling Continues to Yield High-Grade Results

Luca Mining (LUCA.V) said the latest underground-drilling results from its Campo Morado mine in Mexico continue to yield high-grade gold and silver results.The company further defined gold and silver mineralization in areas adjacent and near to active underground workings at Campo Morado, it added.A surface drill hole intersected 28.4 meters (m) of 2.28 grams per tonne (g/t) gold and 134.89 g/t silver at the El Rey zone, while an underground drill hole intersected 19.6 m of 2.78 g/t gold and 103.12 g/t silver, in the unmined Naranjo zone.Exploration operations continue on both surface and underground targets at Campo Morado with two surface drill rigs and one underground drill rig.The company's shares were last seen up C$0.04 to C$1.09 on the TSX Venture Exchange.Price: $1.09, Change: $+0.04, Percent Change: +3.81%

$LUCA.V

Wire39d ago

Worthington Enterprises Raises Quarterly Dividend to $0.20 a Share From $0.19, Payable Sept. 29 to Holders of Record Sept. 15

$WOR

Treasury39d ago

US 2-Year High Yield 4.189% vs 4.071% Previous; Bid/Cover 2.64 vs 2.64 Previous

Sectors39d ago

Sector Update: Tech

Tech stocks were sharply lower Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 3.3% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 5.9%.The Philadelphia Semiconductor index slumped 7.2%.In corporate news, Alphabet's Google (GOOGL) is supporting a new 12-week incubator for AI startups founded by former Google employees, Bloomberg reported. Shares were down 0.4%.

$GOOGL

Oil & Energy39d ago

EMEA Natural Gas Update: European Gas Gains as Asian LNG Demand Counters Supply Relief

European natural gas futures edged higher on Tuesday as easing tensions between the US and Iran reduced fears of major LNG supply disruptions, while warmer weather and tight inventories continued to support the market.Front-month Dutch TTF contracts advanced 0.65% to 42.16 euros ($47.98) per megawatt hour, while UK NBP futures gained 0.71% to 100.65 British pence ($1.33) per therm.Signs of de-escalation between Washington and Tehran helped calm energy markets.US President Donald Trump posted on Truth Social on Tuesday that he had "... agreed to allow the Hormuz Strait to remain open, with no further naval blockade," easing concerns over disruptions to global LNG flows.Complications around the restart of suspended production in the Persian Gulf continued to support gas prices.An explosion at Qatar's Ras Laffan industrial complex on Monday raised fresh questions about the recovery of LNG output, according to Daniel Hynes, senior commodity strategist at ANZ Bank.Asian buyers are returning to the spot LNG market, adding support to global gas prices. China has reportedly resumed spot purchases after a prolonged absence, while stronger cooling demand across the region is increasing competition for cargoes, Hynes said.A total of 23 vessels transited the Strait of Hormuz over the past 24 hours, according to the Hormuz Strait Monitor. Traffic, however, remains well below the peacetime average of 138 ships per day, according to the UK's Joint Maritime Information Center.EU gas storage remains low, despite slower inventory drawdowns due to warmer weather. Gas Infrastructure Europe reported inventories at 46.72%, down from 55.81% a year ago, with Germany at 38.73% and France at 47.85%.European storage levels remain below seasonal norms, leaving the market vulnerable ahead of winter. Inventory levels as of Tuesday are currently below the five-year average for this time of year, while hotter weather forecasts are expected to lift cooling demand in the coming weeks, according to Trading Economics.A heatwave across Europe helped limit downside pressure on gas prices. The market traded largely sideways on Tuesday as warmer temperatures supported demand despite easing geopolitical concerns, according to a note from Mind Energy.

Sectors39d ago

Sector Update: Consumer

Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.6%.In corporate news, Walmart (WMT) will buy nuclear power from Constellation Energy (CEG) under a long-term agreement split into two 15-year terms, the companies said Tuesday. Walmart shares rose over 2%.

$WMT

Asia Markets39d ago

Update: US Equity Indexes Mixed as Mega-Cap Sell-Off Sends Nasdaq, S&P 500 Sliding

(Updates with index/price moves, macroeconomic data, and analysts' comments from the first paragraph.)US equity indexes traded mixed as a rout in heavyweight semiconductor names hit the Nasdaq Composite and the S&P 500 in Tuesday's midday trading.The Nasdaq Composite slumped 1.4% to 25,803.1, and the S&P 500 dropped 0.9% to 7,403.2 intraday. The Dow Jones Industrial Average rose 0.2% to 51,821.7.Technology and industrials were the standout decliners, while consumer staples and real estate topped the gainers intraday.In a category of stocks with a market capitalization of over $200 billion, 17 out of the bottom 20 stocks were technology firms. Sandisk (SNDK), Micron Technology (MU), and Qualcomm (QCOM) were the steepest decliners, sinking by at least 9% each intraday. Within technology, semiconductors bore the brunt of investors' apathy.Tech stocks may face spillover impact from the selloff in South Korea, though the slide appears to be a "pullback/breather" in a market that nearly doubled this year, Wedbush Securities said in a note. South Korea's Korea Composite Stock Price Index, which was up roughly 90% year-to-date, fell about 10% on Tuesday, the brokerage said in a note."We view the KOSPI sell-off as a pullback/breather on a market up almost 100% this year and also believe [SK Hynix, an affiliate of SK Telecom overtaking Samsung was a big symbolic move that caused some investors to worry about an 'overheated' memory chip trade," Wedbush analysts, including Dan Ives, said in the note.Offering a different viewpoint, the Wells Fargo Investment Institute said in a research note that stocks often weaken before elections, referring to the US midterm polls in November. However, history shows those declines have often been followed by strong rebounds and better returns in the year after midterm results are known."Markets typically respond to a clearer policy outlook, so long-term investors should stay focused on fundamentals and consider adding equity exposure during election-driven pullbacks," the WFII note said.In geopolitical news, the Strait of Hormuz will remain open "with no further naval blockade," and Iran has agreed to the "highest level nuclear inspections," Al Jazeera cited US President Donald Trump as saying. Tehran has no plans to allow international inspections of its nuclear facilities, the Middle East news agency cited Iran's Foreign Affairs Ministry spokesman Esmaeil Baghaei as saying.Front-month global benchmark North Sea Brent retreated 1.32% to $76.86 per barrel, and the US West Texas Intermediate slid 1.3% to $72.93 per barrel.In economic news, the June flash reading of manufacturing conditions from S&P Global rose to a 49-month high of 55.7 from 55.1 in May, in contrast with an expected decrease to 54.6 in a survey compiled by Bloomberg.Redbook US same-store sales surged 10% from a year earlier in the week ended June 20 after a 9.4% year-over-year increase in the previous week.Most US Treasury yields declined, with the 10-year down 2.8 basis points to 4.48%. The two-year rate dropped 4.7 basis points to 4.18%.In precious metals, gold futures dropped 1% to $4,159.10, and silver futures slumped 5.2% to $62.65.

Dow JonesNasdaq CompositeS&P 500$MU$QCOM$SNDK

Wire39d ago

Market Chatter: SpaceX Draws $89 Billion Demand for Debut US Bond Sale

Space Exploration Technologies' (SPCX) debut US investment-grade bond offering has drawn roughly $89 billion in demand, Bloomberg reported Tuesday, citing people with knowledge of the matter.The five-tranche deal is seeking to raise $20 billion to $25 billion and is expected to be priced on Tuesday, the report said, adding that the proceeds will refinance a bridge loan and fund corporate expenses.SpaceX did not immediately respond 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.)Price: $162.78, Change: $+8.18, Percent Change: +5.29%

$SPCX

Wire39d ago

Palantir, Zeta Partnership Validates Enterprise AI Opportunity, Wedbush Says

Palantir Technologies' (PLTR) partnership with Zeta Global (ZETA) is validating another enterprise AI opportunity, Wedbush said in a report Tuesday.Earlier, the companies said they are partnering to build the enterprise AI infrastructure layer that connects operational intelligence, customer intelligence, and marketing execution.This partnership pairs Palantir's Foundry with Zeta's Data Cloud to be rearchitected on Foundry with Athena, Zeta's AI-powered intelligence layer, to process enterprise data and support marketing decisions, the report said."With Zeta Cloud now leveraging Foundry, customers will have a trusted path from governed enterprise data to real-time decisions and measurable marketing outcomes," the note said.This partnership is expected to drive more than $100 million in revenue for Zeta over multiple years, the report said.Wedbush kept its outperform rating on Palantir.Price: $118.89, Change: $-0.61, Percent Change: -0.51%

$PLTR$ZETA

Wire39d ago

Update: Amazon Ordered to Bargain With Teamsters at California Facility

(Updates with details from the labor judge's decision and Teamsters' comment in the last paragraph.)Amazon.com (AMZN) must meet with the Teamsters union on request and bargain in good faith over the terms and conditions of employment for certain workers at its facility in San Francisco, and sign a contract if an agreement is reached, according to a labor judge's decision issued Monday.An administrative law judge of the National Labor Relations Board ruled that Amazon violated federal labor law by refusing to recognize and bargain with the Teamsters union after it demonstrated majority support among employees in an appropriate bargaining unit at the facility.Amazon plans to appeal the decision, arguing that the complaint should be dismissed because the NLRB's Cemex precedent conflicts with Supreme Court precedent and violates the Administrative Procedure Act as well as the Major Questions and Non-Delegation doctrines, according to the decision."The Teamsters applaud this decision and will do everything in our power to ensure that Amazon complies with it," Randy Korgan, director of the Teamsters Amazon Division, said in a statement. Korgan said the ruling shows Amazon "cannot forever dodge its legal obligations" and called on the company to begin bargaining.Amazon did not immediately respond to' request for comment.Price: $234.34, Change: $+1.55, Percent Change: +0.67%

$AMZN

Treasury39d ago

UBS Sees Bank of Canada on Hold After May's Inflation But Food Prices Merit Monitoring

Canada's consumer price index rose in May, but it may mark the peak and keep the central bank on hold according to UBS Global Research, even as food-price inflation "is something to watch."The bank wrote in a note sent on Tuesday that prices may have peaked because June gasoline prices have fallen roughly 8% versus May."We expect this could be the peak in headline inflation though, and therefore we continue to expect no change in policy" from the Bank of Canada this year, said UBS.The headline index rose 0.4 percentage point to 3.2% year over year and core CPI added 0.1 point to 1.6% annually, according to data released on Monday by Statistics Canada.Energy remained the key driver, rising 3.3% monthly versus 5.7% in April, and up 22% annually. Food prices also contributed to the upside surprise, rising 0.7% in May, with annual food inflation ticking up from 3.5% to 3.8%. This interrupts a run of steady declines in food inflation since January."Food price inflation is something to watch, given BoC concerns over potential spillover from rising transportation costs into food costs," wrote the UBS economists in the note.

$CXY

Wire39d ago

Netflix to Launch Interactive Horror Game 'Unhinged'

Netflix (NFLX) said Tuesday it will launch Unhinged, an interactive horror game developed by its Night School Studio, on June 30.Players can use their smartphones as controllers by scanning a quick-response, or QR code onscreen, with phone movements controlling the character's actions, according to a statement. The game includes a story mode and a standard mode featuring timed survival challenges, the company said.Unhinged will be available exclusively through Netflix Games with no ads or in-game purchases, the company added.Price: $73.05, Change: $+0.17, Percent Change: +0.23%

$NFLX

Mining & Metals39d ago

Nexcel Metals Gets Drill Permit Approval for Its Exploration Program at Burnt Hill Tungsten Project

Nexcel Metals (NEXX.CN) on Tuesday said a planned diamond-drilling program at its Burnt Hill Tungsten Project in New Brunswick has been approved by the province's Department of Natural Resources and Energy Development.The company plans to start the drill program in September with mobilization expected in August. The initial exploration drill program consists of about 5,000 meters of drilling from up to 15 drill-pad locations "strategically positioned" throughout the historically mineralized Burnt Hill deposit area, it said."This initial drill program is designed not only to validate historical drilling results but also to utilize modern exploration techniques and newly acquired geophysical data to better define and potentially expand the historically known mineralization," said Chief Executive Hugh Rogers. "With permits now in hand, we are advancing preparations to commence drilling and look forward to what we believe will be a transformative exploration program for Nexcel."The company's shares were last seen unchanged at C$0.80 on the Canadian Securities Exchange.

$NEXX.CN

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Asia Markets39d ago

Update: US Equity Indexes Mixed as Mega-Cap Sell-Off Sends Nasdaq, S&P 500 Sliding

Dow JonesNasdaq CompositeS&P 500$MU$QCOM$SNDK