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Update: Wall Street Snaps 3-Day Losing Streak in Tech-Led Bounce

(Updates with market moves at the end of the day.)US equities advanced Tuesday after a three-day slump, with chip stocks lifting the technology sector, even as oil prices rose amid heightened tensions in the Middle East.The Nasdaq Composite climbed 1.3% to 25,837.21, while the S&P 500 gained 0.9% to close at 7,509.20. The Dow Jones Industrial Average rose 0.7% to 52,224.64. Barring consumer staples and communication services, all sectors ended in the green, led by tech's 2.4% gain.Micron Technology (MU) was among the best performers on the S&P 500, up 12%, while Sandisk (SNDK) surged 14%, the index's top gainer. Intel (INTC) jumped 8.6%, while Nvidia (NVDA) rose 2%, among biggest gainers on the Dow."Stock traders today have shrugged off the news from the war in favor of buying the chip makers again, presumably on the hope that the (artificial intelligence) hyperscalers, when they report (second-quarter) earnings over the next few days, will also report large capital spending plans," Macquarie said Monday in a report. "That's hoped to boost the earnings outlooks for the hardware makers."West Texas Intermediate crude oil was up 2% at $84.91 a barrel in Tuesday late-afternoon trade, while Brent rose 2.5% to $91.44.The US will hit the area of Pickaxe Mountain "probably pretty soon," news outlets reported, citing President Donald Trump. The underground facility is reportedly believed to be connected to Iran's nuclear program.Kuwait, Bahrain and Jordan intercepted Iranian aerial attacks on Tuesday, CNN reported. The US Central Command said Monday its forces had struck Iran again.Two tankers carrying Saudi crude turned back in the Red Sea as Yemen's Iran-aligned Houthis threatened to strike vessels using Saudi ports, Reuters reported.Treasury yields were higher, with the two-year rate up 4.9 basis points at 4.26% and the 10-year rate rising 3.2 basis points to 4.63%.In corporate news, 3M (MMM) raised its full-year earnings outlook as the industrial conglomerate reported second-quarter results above Wall Street's estimates. The stock jumped 7.3%, the biggest gain on the Dow.General Motors (GM) lifted its full-year profit guidance as the automaker recorded an unexpected year-over-year increase in its second-quarter revenue. The stock rose 4.9%.Danaher (DHR) slid 11%, the worst performer on the S&P 500. The medical equipment maker raised its full-year profit guidance as its fiscal second-quarter results came in stronger than expected, but it lowered the top end of its 2026 revenue growth outlook.Gold advanced 1.8% to $4,088.40 per troy ounce, while silver climbed 3.5% to $59.05 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMZN$DHR$GM$INTC$MMM$MU$NVDA$SNDK

Insider Trading8h ago

Stitch Fix Insider Sold Shares Worth $265,080, According to a Recent SEC Filing

Anthony Bacos, Chief Product and Technology Officer, on July 20, 2026, sold 70,000 shares in Stitch Fix (SFIX) for $265,080. Following the Form 4 filing with the SEC, Bacos has control over a total of 991,994 Class A common shares of the company, with 991,994 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1576942/000162828026049004/xslF345X05/wk-form4_1784665266.xml

$SFIX

Mining & Metals8h ago

Redwood AI Closes C$3.5 Million Private Placement

Redwood AI (AIRX.CN) said after trade Tuesday it closed its private placement with a US institutional investor, raising up to C$3.5 million by through 1.66 million special warrants at C$2.11 apiece.Each special warrant will automatically convert into one unit of Redwood AI at no additional cost. Each unit consists of one common share and one common share purchase warrant. Each warrant allows the holder to buy one additional common share at C$2.48 for 60 months from the closing date, the company said.Proceeds will be used for working capital and general corporate purposes, the company said, adding that the securities issued under the offering remain subject to applicable Canadian and US resale restrictions.

$AIRX.CN

Insider Trading8h ago

Aon Insider Sold Shares Worth $725,500, According to a Recent SEC Filing

Darren Zeidel, General Counsel, on July 17, 2026, sold 1,950 shares in Aon (AON) for $725,500. Following the Form 4 filing with the SEC, Zeidel has control over a total of 13,404 Class A ordinary shares of the company, with 13,404 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/315293/000119312526310325/xslF345X05/ownership.xml

$AON

Insider Trading8h ago

Paychex Insider Sold Shares Worth $299,234, According to a Recent SEC Filing

Robert L. Schrader, Senior Vice President, CFO, on July 20, 2026, sold 2,600 shares in Paychex (PAYX) for $299,234. Following the Form 4 filing with the SEC, Schrader has control over a total of 18,886 common shares of the company, with 18,547 shares held directly and 339 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/723531/000119312526310268/xslF345X05/ownership.xml

$PAYX

Japan8h ago

US Equity Markets Close Higher as Chipmakers Lead Tech Gains

US equity indexes ended higher on Tuesday as semiconductor stocks led gains in the technology sector amid diplomatic developments to rein in hostilities in the Middle East.* Iranian Interior Minister Eskandar Momeni arrived in Pakistan for high-level talks, news reports said. Mediators are proposing a 10-day ceasefire between Washington and Tehran, according to a Reuters report. President Donald Trump said Tehran is "desperate" to meet and talk, and threatened to attack a reported new Iranian nuclear site "very heavily," Al Jazeera reported.* Redbook US same-store sales last week rose 7.8% from a year earlier after an 8.2% increase in the previous week.* The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index rose to 7.4 in July from minus 25.8 in June.* August West Texas Intermediate crude oil rose $1.76 to settle at $84.99 per barrel, while September Brent crude, the global benchmark, was last seen up $2.25 at $91.47.* 3M (MMM) shares rose 7.3%, the top gainer on the Dow, as the company raised its full-year earnings outlook after reporting Q2 results above Wall Street's estimates.* Danaher (DHR) shares fell 11%, the biggest drop on the S&P 500, after the company tempered full-year revenue-growth guidance even as fiscal Q2 topped estimates.

Dow JonesNasdaq CompositeS&P 500$DHR$MMM

Mining & Metals9h ago

Foremost Clean Energy Appoints David Cates as Interim CEO

Foremost Clean Energy (FAT.CN) appointed David Cates interim chief executive officer and president, the company said Tuesday.Cates has served on its board since October 2024 and is also the CEO of Denison Mines, Foremost's largest shareholder, the company added.This transition follows the departures of former President and CEO Jason Barnard and former Chief Operating Officer Christina Barnard. Both Jason and Christina Barnard continue to serve as CEO and president, respectively, of Rio Grande Resources, according to the statement.Price: $2.81, Change: $+0.21, Percent Change: +8.08%

$FAT.CN

US Markets9h ago

Constructing Homes on Vacant Lots Could Ease US Housing Shortage, Zillow Says

The US housing market faces a long-running supply shortage, and building homes on empty for-sale lots could be one way of shrinking that gap, Zillow Group (Z, ZG) said Tuesday.More than 300,000 empty lots smaller than 5 acres were listed for sale on Zillow in June, reflecting 17.4% of all for-sale listings across the nation, according to the real estate marketplace.Building a single home on each would shrink America's housing shortage by 6.3% to roughly 4.44 million homes, Zillow said.The solution represents the "lowest-hanging fruit" in tackling a supply crisis that has developed over the last two decades, Zillow Senior Economist Kara Ng said."The challenge is making it feasible to build," Ng added. "Loosening zoning rules, streamlining permitting and expanding access to financing would reduce the cost and uncertainty that hold construction back, turning available lots into much-needed homes."Florida, Texas, and California top the list of states with the highest number of empty lots. Vacant parcels make up more than one-third of all for-sale listings in North Dakota, South Dakota, and Alaska, according to the report.Rural markets held the highest concentration of empty lots and are the least expensive on a per-acre basis, compared to suburbs and urban areas, Zillow said.Price: $32.20, Change: $-0.84, Percent Change: -2.53%

$Z$ZG

Sectors9h ago

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 1% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.8%.The Philadelphia Oil Service Sector Index was climbing 1.4%, and the Dow Jones US Utilities Index was fractionally higher.In geopolitical news, President Donald Trump delivered a dim view of possible talks with Iran to end the war, telling reporters Tuesday that the US has "no interest in meeting" until Iran is ready to convene "in a meaningful way," the Associated Press reported.Separately, a desalination facility and power plants caught fire and suffered serious damage in Kuwait after new Iranian strikes targeted the crucial facilities, along with areas of Bahrain and Jordan, following the 10th consecutive night of US bombing, Al Jazeera reported Tuesday.Meanwhile, the Houthi-run SABA news agency said six ships attempting to pass through the Bab el-Mandeb Strait in the southern Red Sea were forced to reroute on Tuesday after being warned by the rebels, a day after they announced a maritime embargo against Saudi Arabia, according to the Associated Press.Front-month West Texas Intermediate crude oil climbed 2% to $84.91 a barrel, and the global benchmark Brent crude contract rose 2.3% to $91.25 a barrel. Henry Hub natural gas futures increased 0.9% to $2.89 per 1 million BTU.In corporate news, Fluor (FLR) said Tuesday it secured a contract from Gulf Petrochemical Industries to carry out the front-end engineering and design for a new aromatics facility in Bahrain. Fluor shares gained 3.6%.Shell (SHEL) resumed operations at a 200,000-barrel-per-day crude oil unit at its Pernis oil refinery in the Netherlands on Monday following a brief disruption, Reuters reported. Shell shares were up 1.1%.Shell, TotalEnergies (TTE) and BP (BP) are in negotiations to supply 15 to 18 cargoes of liquefied natural gas per month to Egypt for at least three years, Reuters reported. TotalEnergies shares climbed 2.9%, and BP added 1.3%Magnolia Oil & Gas (MGY) shares were down 2%. The company said late Monday it priced its underwritten public offering of 46.3 million class A shares at $23.75 per share.

$BP$FLR$MGY$SHEL$TTE

Wire9h ago

Top Cryptocurrencies Rise; Bitcoin Tops $66,000 Level

Major digital assets rose Tuesday, with Bitcoin (BTC-USD) topping the $66,000 level.The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, rose 1.7% in the past 24 hours. The Nasdaq 100 rose 2%, the S&P 500 added 0.9%, and the Dow Jones Industrial Average increased 0.7%.Bitcoin rose 2.1% to $66,425, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume fell 4.2% to $29.31 billion.Ethereum (ETH-USD), the second-largest digital asset by market value, climbed up 1.4% to $1,923.XRP (XRP-USD) gained 3.8%, BNB (BNB-USD) rose 0.2%, and Solana (SOL-USD) added 0.5%. Dogecoin (DOGE-USD) gained 2.1%, while Cardano (ADA-USD) surged 2.3%.The US 10-year Treasury yield stood at 5.141% at 3 p.m. ET Tuesday, up from 5.122% Monday, while the five-year yield rose to 4.368% from 4.330%.The total market value of the cryptocurrency industry rose 1.5% in the past 24 hours to $2.26 trillion, with trading volume gaining 0.1% to $69.64 billion.Price: $66439.62, Change: $+1225.52, Percent Change: +1.88%

$ADA-USD$BNB-USD$BTC-USD$DOGE-USD$ETH-USD$SOL-USD$XRP-USD

Oil & Energy9h ago

India's Russian Oil Buying Reportedly Holds Near Record as Gulf Supply Risks Deepen

India intensified its reliance on Russian crude as Gulf supply disruptions intensified despite US sanctions pressure, according to multiple media reports on Tuesday.Russian crude deliveries to India topped 2.3 million barrels per day in June, while July arrivals have remained close to that pace after trade between the two countries expanded sharply following Moscow's 2022 invasion of Ukraine, according to a Bloomberg report.Trading intermediaries have enabled Russian crude to continue reaching overseas buyers despite US sanctions targeting several major producers, the report added.Indian refiners reportedly increased purchases from Russia as Middle East supplies tightened and lower Russian prices improved their appeal, while renewed security threats disrupted shipping through the Strait of Hormuz.Russia's four-week average seaborne crude exports eased for a second consecutive week to 4.16 million b/d through July 19, remaining close to the record level reached earlier this month.Ukrainian drone attacks have reduced Russia's refining capacity, leaving more crude available for export while July refinery runs fell to their lowest level in over 21 years, deepening domestic fuel shortages.Russian crude has become steadily cheaper over the past 13 weeks, with four-week average prices falling to little over half the levels recorded in mid-April, encouraging additional buying from Indian refiners.Proposed US legislation imposing tariffs of up to 100% on major buyers of Russian energy, including India, could curb Indian demand, although President Donald Trump's support for the measure remains uncertain.Russia loaded 27.73 million barrels of crude onto 37 tankers in the week ended July 19, or 3.96 million b/d. Seaborne volumes waiting at sea climbed to about 137 million barrels, according to Bloomberg, citing vessel-tracking data and port-agent reports.India imported a record 2.64 million b/d of Russian crude in June, up 37.4% over the month and representing about half of the country's total crude imports of 5.24 million b/d, Reuters reported.Russian crude accounted for almost 41% of India's oil imports during the April-June quarter, up from about 38% from a year earlier, while the Middle East's share declined to 31% from 41.4%.Indian refiners also increased purchases from Brazil, Venezuela and Angola as fighting resumed after the collapse of the Washington-Tehran truce, disrupting traffic through the Strait of Hormuz.Indian refiners expect to source more crude from Russia, West Africa and the Americas if disruptions in the Strait of Hormuz continue and Houthi threats expand, although shipping Saudi crude via the Cape of Good Hope would significantly increase transportation costs, Reuters reported.India's Ministry of Petroleum and Natural Gas did not immediately respond to' request for comment.

Commodities9h ago

Iberdrola Expands European Grid Business With Caruna Acquisition

Iberdrola will acquire an 80% stake in Finland's largest electricity distribution company, Caruna, in a deal valuing the business at about 5 billion euros ($5.7 billion), the company said Tuesday.Iberdrola will pay 2 billion euros for the 80% interest, while Finnish pension funds AMF and Elo will retain their combined 20% stake, the company said.Caruna supplies electricity to 1.5 million people, or more than 20% of Finland's population, through an 89,000-kilometer network with 67% of its lines installed underground.The utility operates two distribution concessions covering areas around central Helsinki and Joensuu, alongside western and northeastern Finland, where industrial activity, residential growth and new data centers continue to lift electricity demand, the company said.Caruna expects to increase earnings and its asset base by about 7% annually while investing 200 million euros to 300 million euros each year to modernize and expand its grid. The companies expect to close the transaction in Q1 2027, subject to regulatory approvals, Iberdrola said.Finland's AA+ credit rating and regulatory framework through 2031 provide an expected return on equity of about 8%, it said."This transaction reinforces our strategic commitment to electricity networks as essential infrastructure for promoting energy security, self-sufficiency and competitiveness," said Ignacio Galan, Iberdrola's executive chairman.

Japan9h ago

Update: US Equity Indexes Rise as Chipmakers Lift Technology Amid Worsening Iran Geopolitics

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes rose as surging chipmakers boosted technology, helping offset a move higher in crude oil amid threats of worsening hostilities in the Middle East.The Nasdaq Composite jumped 1.3% to 25,835.8, with the S&P 500 up 0.9% to 7,508.5 and the Dow Jones Industrial Average higher by 0.7% to 52,212.8 ahead of Tuesday's close.Technology was the standout gainer, up 2.3%, followed by energy. Consumer staples and communication services led the decliners.Out of the top ten companies with a market capitalization of more than $200 billion, all but one were from the technology sector, according to data compiled by Finviz. Within that tech dominance, six were from semiconductors and semiconductor equipment and materials industries, including Intel (INTC).Intel is planning to lay off workers within its data center group, Business Insider reported Tuesday, citing a company spokesperson. Separately, RBC Capital Markets said in a note that Intel is expected to report a decent Q2 supported by server CPU demand and pricing momentum. Intel's shares surged 8.82%, one of the top gainers on the S&P 500 and the Nasdaq.In geopolitical news, President Donald Trump delivered a dim view of possible talks with Iran to end the war, telling reporters Tuesday that the US has "no interest in meeting" until Iran is ready to convene "in a meaningful way," the Associated Press reported.A desalination facility and power plants caught fire and suffered serious damage in Kuwait after new Iranian strikes targeted the crucial facilities, along with areas of Bahrain and Jordan, following the 10th consecutive night of US bombing, Al Jazeera, a Middle Eastern broadcaster, reported Tuesday.Meanwhile, the Houthi-run SABA news agency said six ships attempting to pass through the Bab el-Mandeb Strait in the southern Red Sea were forced to reroute on Tuesday after being warned by the rebels, a day after they announced a maritime embargo against Saudi Arabia, according to the Associated Press.The front-month US West Texas Intermediate rose 2% to $84.91 a barrel, and global benchmark North Sea Brent climbed 2.3% to $91.28 a barrel.

Dow JonesNasdaq CompositeS&P 500$INTC

US Markets9h ago

Cybersecurity Stocks' Hefty Valuations Demand Caution Ahead of Earnings, Morgan Stanley Says

Cybersecurity stocks' lofty valuations warrant caution ahead of upcoming quarterly results, especially for certain vulnerability management names, Morgan Stanley said in a client note.Cybersecurity stocks have rallied about 25% over the last month as worries about the impact of artificial intelligence eased, the investment firm said. Vulnerability management providers, in particular, saw their valuations almost double.Demand for the cybersecurity sector remains healthy, but that still does not justify current prices, Morgan Stanley said."Checks have improved for cybersecurity (quarter over quarter), with indications that they should improve further into (the third quarter), leaving us positive (on) the cyber category as a whole," the firm said. "However, with valuations having almost doubled off the bottoms post (the first quarter), and on-cycle names unlikely to show material inflections, we lean more cautious heading into the on-cycle prints."Morgan Stanley said it is particularly cautious on vulnerability management companies Qualys (QLYS) and Rapid7 (RPD).On the other hand, the brokerage prefers Palo Alto Networks (PANW) and CrowdStrike (CRWD) that it believes are "best positioned" to benefit from the AI-driven consolidation.Morgan Stanley raised the price target to $387 from $320 for Palo Alto and to $227 from $172 for CrowdStrike, while reiterating its overweight rating on both stocks.The firm replaced CrowdStrike with Palo Alto as its "top pick," saying the latter "offers the strongest combination of platform consolidation tailwinds, AI security exposure, and margin expansion at current valuation levels."Morgan Stanley raised the price target for Qualys to $115 from $96, while it downgraded its rating on Rapid7 to underweight from equal-weight."While we agree the category has evolved beyond bug-finding into exposure management, where it is more defensive (versus) AI-natives, we don't believe Rapid7 has executed that pivot successfully enough, as evidenced by just 1.2% revenue growth over the last 12 months," the firm said.Morgan Stanley upgraded Fortinet (FTNT) to equal-weight from underweight and revised its price target to $133 from $80.Price: $143.22, Change: $-13.15, Percent Change: -8.41%

$CRWD$FTNT$PANW$QLYS$RPD

Sectors9h ago

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks were higher in late Tuesday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.1%.The Philadelphia Housing Index was down 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.2%.Bitcoin (BTC-USD) was adding 1.6% to $66,270, and the yield for 10-year US Treasuries rose 3 basis points to 4.628%.In economic news, Redbook US same-store sales rose 7.8% from a year earlier in the week ended July 18 after an 8.2% year-over-year increase in the previous week.The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index rose to 7.4 in July from minus 25.8 in the previous month, indicating expansion in the sector.In corporate news, Goldman Sachs (GS) has launched a new platform to expand its offerings for wealthy clients and family offices seeking direct stakes in fast-growing private companies, CNBC reported, citing a memo. The new group, called the alternative investments platform, combines Goldman's alternatives business with two new teams, the report said. Goldman shares were up 2.5%.JPMorgan Chase (JPM) and Jefferies Financial (JEF) were among four banks chosen by InMobi to raise about $1 billion as part of an IPO process due to begin later this week, Bloomberg reported. JPMorgan shares rose 1.6%, and Jefferies added 2.6%.Marsh & McLennan (MRSH) shares were up 0.2% after the firm reported higher Q2 adjusted net income and revenue.MSCI (MSCI) shares fell past 10% after it reported Q2 adjusted EPS of $4.94, up from $4.17 a year earlier, but below the FactSet consensus of $4.99.

$GS$JEF$JPM$MRSH$MSCI

Sectors9h ago

Sector Update: Healthcare Stocks Rise Late Afternoon

Healthcare stocks advanced late Tuesday afternoon with the NYSE Healthcare Index rising 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.4%.The iShares Biotechnology ETF (IBB) climbed 1.3%.In corporate news, Novo Nordisk (NVO) sued rival Eli Lilly (LLY) in the US over alleged "misleading" advertising campaigns for its obesity and diabetes drugs that compete with the Danish drugmaker's products. Novo shares fell 0.7%, and Lilly rose 1.7%.Danaher (DHR) raised its full-year profit guidance as fiscal Q2 results came in stronger than expected. The company lowered the top end of its 2026 revenue growth outlook, and the shares fell 11%.Okyo Pharma (OKYO) shares rose 5.8%. Chairman Gabriele Cerrone increased his stake in the company to 10.9 million shares, or 20.5% of the issued shares, with the purchase of 25,000 shares at $1.40 each.MapLight Therapeutics (MPLT) is seen having meaningful upside in the ML-007 Phas2 2 schizophrenia trial readout with data expected in mid-August, UBS Securities said. MapLight shares rose 4.1%.

$DHR$LLY$MPLT$NVO$OKYO

Commodities9h ago

US Biofuels Update: Soybean Futures Drop Due to Improved Crop Conditions; Soybean Oil Rises

Biofuels feedstock futures closed mixed on Tuesday, with soybean prices pressured by higher weekly crop ratings, while soybean oil rose from higher energy prices due to escalating fighting in the Middle East.The Chicago Board of Trade August soybean futures contract closed 0.61% lower at $12.18 per bushel, while the CBOT August soybean oil futures contract settled 0.60% lower at 74.23 cents per pound.The Nymex August ethanol futures contract settled 0.65% higher on Monday at $1.92 per gallon.Rhett Montgomery, a DTN analyst, said that the soybean market's lowest price traded on Tuesday was still above Monday's low."The soybean market relaxed on Tuesday after a very strong session to begin the week; profit-taking and technical-based selling likely played a role, as did a surprising improvement in US soybean crop ratings despite last week's heat," Montgomery said.In Monday's report, the US Department of Agriculture showed that 66% of the US soybean crop is rated G/E, up 1 point through the past week."Despite no reported sales by USDA on Tuesday morning, soybean demand has had a strong run through July thus far, with total new crop sales likely sitting at a four-year high for mid-July. Crush premiums remain strong as well, near $3.80 per bushel gross and well above recent years, though down considerably from the 2026 peak in late May," Montgomery said.

Sectors9h ago

Update: WTI Oil Rises Again as Fighting Between US and Iran Keeps Tankers Trapped in Persian Gulf

(Updates prices in the second paragraph.)West Texas Intermediate (WTI) crude oil rose on Tuesday, climbing for a third straight session as fighting between Iran and the United States continues to constrain Persian Gulf supply.WTI crude oil for August delivery closed up $1.68, or 2%, to settle at $84.91 per barrel, while September Brent was last seen up $1.70, or 1.9%, to $90.92.The rise comes as fighting continues to block shipping in the Strait of Hormuz, the chokepoint for a fifth of daily oil demand supplied by countries in the region prior to the start of the war. The UK Maritime Trade Operations agency reported an attack on a vessel moving through the strait on Monday, forcing the crew to abandon ship.The renewed fighting has pushed oil up by 13% over the past month, as buyers hunt for supply and tankers wait to move through the strait. Hormuzstraitmonitor.com reported that just 13 ships moved through in the last day, with 142 tankers still waiting to move out of the region.A fresh threat to the market came on Monday, after Yemen's Houthi militant group threatened to close the Bab al-Mandab Strait at the southern end of the Red Sea, blocking Saudi Arabia's exports through the sea, pushing prices higher.Still, a Reuters report that mediators are proposing a 10-day ceasefire to renew negotiations between Iran and the US raised hopes the two sides may reach an agreement to end fighting."The move (higher) came from the Houthi maritime blockade on Saudi Arabia, a tenth consecutive day of US strikes on Iran and a tanker strike in the Strait of Hormuz. Crude gave some of that back overnight, with Brent easing 0.7% to around USD 88.55 as reports of a possible 10-day pause in strikes circulated," Saxo Bank wrote in a note.

$CLQ6$LCOU6$USO

Sectors9h ago

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.7% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 5.2%.The Philadelphia Semiconductor index gained 4.9%.In corporate news, Apple (AAPL) is planning to launch a new program on July 28 through which customers can lease devices, including most iPhone, Mac, iPad and Apple Watch models, Bloomberg reported. Apple shares rose 0.5%.Intel (INTC) is planning to lay off workers in its data center group, Business Insider reported Tuesday, citing a company spokesperson. Separately, RBC Capital Markets said in a note Intel is expected to report a decent Q2 supported by server CPU demand and pricing momentum. Intel shares jumped past 8%.Taiwan Semiconductor Manufacturing (TSM) plans to raise prices for both advanced and mature chip manufacturing by up to 10% beginning in 2027, Nikkei Asia reported. Taiwan Semiconductor shares climbed 5.3%.Amazon.com's (AMZN) platform that serves businesses and government entities reached $60 billion in annualized sales in the second quarter, the e-commerce giant said Tuesday. That's up from more than $35 billion in global annualized sales for Amazon Business in 2023. Amazon shares were down 1%.

$AAPL$AMZN$INTC$TSM

Commodities9h ago

Crude Stability Masks Fuel Supply Risks as Refining Bottleneck Limits Policy Options, Kpler Says

Crude markets have shown signs of stabilization after the disruption of Middle East flows, but refined fuel supplies remain under pressure as weak product availability and lingering shipping risks limit policymakers' ability to bring gasoline prices lower, Kpler strategists said on Tuesday.The retreat in crude prices following the escalation of US-Iran tensions and disruptions around the Strait of Hormuz has created a perception that energy markets have absorbed the shock.However, Kpler data shows that the recovery in crude flows has not translated into a full recovery in refined products, leaving gasoline and diesel markets vulnerable.Crude supply has stabilized faster than the product market, Michelle Brouhard, head of Policy and Geopolitical Risk at Kpler, said, adding that the key constraint has shifted from availability of crude barrels to the ability of refineries to convert those barrels into transport fuels.US Energy Secretary Chris Wright said Washington would use every available tool to lower gasoline prices, pointing to recovering oil supplies, strategic petroleum reserve releases and efforts to restore freedom of navigation via the Hormuz.However, Kpler analysts said the policy options available to governments are increasingly limited because the current market imbalance is concentrated in refined products rather than crude.The latest data from Kpler showed that disruptions to Middle East shipping flows following attacks and heightened security risks around the Strait significantly reduced energy movements through the strategic waterway.Though alternative export routes via Saudi Arabia's Yanbu terminal and the UAE's Fujairah facilities helped maintain crude availability, refined-product flows have remained constrained.Brouhard said the market has avoided a prolonged crude shortage, but that does not mean the fuel supply problem has been solved.China's reduced crude purchases have also played a role in easing pressure on global oil balances, removing more than five million barrels per day of demand from international markets. However, Kpler said that the relief may prove temporary as Chinese refiners eventually rebuild inventories and increase crude imports.The data analytics firm said that strategic petroleum reserve releases have provided additional supply, but government stocks cannot indefinitely replace lost market flows.The widening gap between crude and fuel markets underscores the growing importance of refinery capacity.US gasoline inventories remain relatively tight, while refined products held on water are still below levels seen before the Middle East crisis. Kpler said that this suggests that replacement cargoes have not fully returned despite some recovery in crude exports.The market signal is reflected in gasoline pricing. With US gasoline inventories about 210 million barrels and gasoline futures maintaining a substantial premium to crude, current prices near $4 per gallon are consistent with underlying market fundamentals rather than excessive speculation.Brouhard said adding more crude barrels alone will not solve the gasoline problem, adding that the market needs more refining capacity and more reliable product flows.

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Commodities9h ago