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Exchange-Traded Funds Rise, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV edged higher. Actively traded Invesco QQQ Trust (QQQ) eased 0.5%.US equity indexes were mixed in midday trading on Thursday amid a decline in technology shares, government bond yields, and crude oil futures.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 0.4%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was 1.7% lower; iShares US Technology ETF (IYW) lost 0.6%, and iShares Expanded Tech Sector ETF (IGM) was down 1.7%.The State Street SPDR S&P Semiconductor (XSD) slipped 0.7%, and iShares Semiconductor (SOXX) fell 2.1%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 2.8%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 8.1%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 8.2%.CommoditiesCrude oil dropped 3.6%, and the United States Oil Fund (USO) eased 3.7%. Natural gas gained 4.5%, and the United States Natural Gas Fund (UNG) was up 3.7%.Gold on Comex rose 1%, and the State Street SPDR Gold Shares (GLD) was up 0.8%. Silver added 0.5%, and iShares Silver Trust (SLV) gained 0.9%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 0.3%. The Vanguard Consumer Staples ETF (VDC) added 0.5%, and iShares Dow Jones US Consumer Goods (IYK) gained 0.3%.The State Street Consumer Discretionary Select Sector SPDR (XLY) added 0.4%. VanEck Retail ETF (RTH) advanced 1.1%, and the State Street SPDR S&P Retail (XRT) rose 0.1%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) climbed up 2.9%, iShares US Healthcare (IYH) added 2.8%, and Vanguard Health Care ETF (VHT) rose 2.9%. IShares Biotechnology ETF (IBB) advanced 2.5%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) gained 1%. Vanguard Industrials Index Fund (VIS) was up 1%, while iShares US Industrials (IYJ) rose 1.4%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 2.2%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 2.8%, ProShares Ether ETF (EETH) shed 2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 1.8% 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

International48d ago

Small Businesses Report Shows Worker Shortage Loosened in May, NFIB Says

Small businesses reported that the level of worker shortages was less severe in May, with a seasonally adjusted 29% of respondents in a National Federation of Independent Business survey released Thursday saying they were having trouble hiring the workers that they needed, down from 34% in the previous month and the lowest since May 2020.The NFIB's Small Business Employment Index fell to 100.3 in May from 100.4 in April, still above the historical average of 100.0 but now below the 2025 average of 101.2.The percentage of business owners reporting labor quality as their top business concern fell to 13% from 18%, but labor costs were listed as single most important concern by a record-high 14%, up from 9% in April."Concerns about rising labor costs increased significantly to the highest reading in the survey's history," said NFIB Chief Economist Bill Dunkelberg. "Small business owners are facing mounting pressure to retain workers, and many firms are navigating costly new state mandates. While current conditions restrict Main Street's already-thin profit margins, compensation measures remain steady for now."About 55% of owners said they were trying to hire in the month, up from 53% in April. Around 84% of the respondents who were hiring or trying to hire reported finding few or no qualified applicants for the position they were trying to fill.A seasonally adjusted net 31% of owners said they needed to raise compensation to hire workers in May, up slightly from 30% in April. A net 18% of owners said they plan to raise compensation in the next three months, the same as in April.

Wire48d ago

Veru Enters Supply Agreement With Novo Nordisk for Obesity Study; Shares Surge

Veru (VERU) said Thursday in a regulatory filing that it entered a clinical supply agreement with Novo Nordisk (NVO) to support its phase 2b PLATEAU study evaluating enobosarm in combination with Novo's Wegovy in older adults with obesity undergoing weight loss treatment.Under the agreement, Novo Nordisk will provide Wegovy free of charge for the study, while Veru will sponsor and conduct the trial and share clinical study updates and insights related to obesity and weight management research, the filing shows.Veru said it retains global development and commercialization rights to enobosarm, while Novo Nordisk received a right of first negotiation if Veru seeks to develop, commercialize or license enobosarm in combination with Novo Nordisk GLP-1 products in the future.Shares of Veru rose 155% in Thursday trading.Price: $5.52, Change: $+3.27, Percent Change: +145.47%

$NVO$VERU

Wire48d ago

General Motors Rehires Over 100 Former Cruise Team Members, The Information Reports

$GM

Wire48d ago

Market Chatter: Merck to Pay Over $50 Million to Settle More Than 200 Gardasil Cases

Merck (MRK) said Thursday it will pay over $50 million to settle more than 200 lawsuits that blame the drugmaker's Gardasil cancer vaccine for causing autoimmune ailments in young women, Bloomberg reported, citing an emailed statement from the company.Gardasil prevents human papillomavirus infections. The lawsuits allege it can cause autoimmune conditions affecting the heart and reproductive systems in young women, according to the report.Merck didn't immediately reply to a request for comment from.Price: $119.28, Change: $+4.58, Percent Change: +3.99%

$MRK

Commodities48d ago

US Crude Inventories Drop 8 Million Barrels, Cushing Hits New 5-Year Low, TPH Says

US commercial crude inventories fell by 8 million barrels last week, pushing stocks 1% below year-ago levels and 4% below the five-year average, TPH Energy said Thursday.Cushing crude inventories declined by 600,000 barrels to 22.4 million barrels, marking another five-year low, the firm said.Higher crude exports supported the draw as outbound shipments increased by 1.43 million b/d, outweighing a 1.19 million b/d increase in imports, TPH said.The firm said the inventory decline also reflected a 349,000 b/d drop in the adjustment factor and an 8,000 b/d decrease in domestic production to 13.707 million b/d.Four-week average crude imports remained 4% below year-ago levels, while four-week average crude exports increased 42% from a year earlier, according to TPH.Refiners reduced crude processing rates by 90,000 b/d, leaving refinery runs 1% below year-ago levels, the firm said.Ethanol inventories fell by 400,000 barrels to 24.6 million barrels as exports strengthened, although inventories remained at a seasonal high while production reached another five-year high, TPH said.Gasoline inventories increased by 3.4 million barrels and distillate stocks rose by 1.5 million barrels, missing consensus forecasts for declines of 2.5 million barrels and 2 million barrels, respectively, TPH said.Jet fuel inventories also climbed by 400,000 barrels, although gasoline, distillate and jet fuel demand remained stronger than year-ago levels despite weaker week-over-week consumption, the firm said.The four-week average for light product demand improved to 1% above year-ago levels from 1% below previously, while net export growth slowed to 60% from 72%, with gasoline demand at 1%, distillate at 1% and jet fuel at 0%, TPH said.

Sectors48d ago

Sector Update: Consumer

Consumer stocks advanced Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.4%.In corporate news, Costco (COST) shares rose 1.7% after the company reported net sales of $24.01 billion in May, up from $20.97 billion a year earlier.

$COST

Sectors48d ago

Sector Update: Tech

Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.6% and the State Street SPDR S&P Semiconductor ETF (XSD) down 0.7%.The Philadelphia Semiconductor index dropped 2.1%.In corporate news, Broadcom (AVGO) shares fell past 13% after it reported fiscal Q2 results late Wednesday. The company's fiscal Q3 AI revenue outlook likely fell short of investor expectations, while Q2 results were slightly ahead of consensus, RBC said in a note.

$AVGO

Commodities48d ago

Supply Disruptions Lift Refiner Q2 EPS Outlook Above Consensus, TPH Energy Says

TPH raised its average second-quarter 2026 earnings estimate for refiners to $6.38 per share from $5.67, exceeding the $5.40 consensus forecast and sharply above Q1 earnings of $0.59 per share, the firm said Thursday.TPH said supply disruptions tied to the US-Iran conflict continue to support refining fundamentals and improve earnings expectations across the sector.The International Energy Agency expects global refinery runs to fall to 78.7 million barrels per day in the second quarter from 83.6 million b/d in Q1 and 82.9 million b/d a year earlier, TPH said.TPH said shipping disruptions in the Strait of Hormuz and refinery damage linked to the conflict are reducing global fuel supplies.US gasoline cracks increased by about $20 per barrel over the quarter to $25/bbl, compared with a five-year average of $20/bbl, the firm said.US diesel cracks climbed by roughly $21/bbl to $48/bbl, more than double the five-year average of $22/bbl, TPH said.The West Coast, Southwest and Rocky Mountain regions posted the strongest margin gains relative to historical averages, while the Mid-Continent and Midwest regions lagged, according to the firm.US refiners increased operating rates to address supply shortages, pushing utilization to 91% in the second quarter from a five-year average of 89%, TPH said.Higher operating rates helped gasoline exports reach 880,000 b/d and distillate exports rise to 1.56 million b/d, above five-year averages of 828,000 b/d and 1.19 million b/d, respectively, the firm said.TPH said tighter availability of Middle Eastern medium-sour crude has narrowed crude differentials, although Western Canadian Select prices at Hardisty and Houston remain under pressure from constrained Canadian pipeline capacity.The firm added that stronger backwardation is creating a $ 5/bbl-over-the-quarter headwind for inland US crude barrels, while elevated tanker costs are weighing on coastal markets.TPH expects lower crude prices, wider West Coast jet fuel premiums, reduced downtime and a $4/bbl increase in octane spreads to support second-quarter capture rates.However, the firm said rising Renewable Volume Obligation costs approaching $4/bbl, tighter crude differentials, weaker butane blending demand and the $5/bbl WTI structure impact remain key challenges.TPH forecast group capture rates of 73% in the second quarter, compared with 72% in the first quarter.The firm said renewable diesel indicators improved by $1.39 per gallon, Midwest ethanol margins increased by $0.33/gal, polyethylene chain margins rose by $0.40 per pound and $0.32/lb, while UAN and ammonia fertilizer prices advanced 33% and 27%, respectively.TPH said potential Small Refinery Exemption proceeds could equal 23% of market capitalization for Delek US Holdings (DK), 7% for Par Pacific Holdings (PARR), and 4% each for HF Sinclair (DINO) and CVR Energy (CVI), assuming partial waivers for all applications.TPH said its second-quarter earnings forecasts exceed consensus estimates for Par Pacific Holdings, HF Sinclair, Phillips 66 (PSX) and Valero Energy (VLO), while its estimate for CVR Energy remains below consensus.Price: $47.19, Change: $+0.01, Percent Change: +0.02%

$CVI$DINO$DK$PARR$PSX$VLO

Wire48d ago

RBC Maintains The Descartes Systems Group's Outperform Rating and US$126.00 Price Target

RBC Capital Markets maintained its outperform rating and US$126.00 price target on the shares of The Descartes Systems Group (DSG.TO, DSGX) on Thursday, after the company reported its fiscal 2027 first-quarter financial results on Wednesday.Descartes delivered another beat and raise, said RBC and added that organic growth "continued to strengthen, despite a mixed global trade environment."Strengthening organic growth validates Descartes's innovation and value proposition, said RBC. Organic growth strengthened to ~9% from 8% last quarter, despite reduced global freight shipments in the quarter, added RBC."Increased organic growth stems from adoption of Descartes's trade content, e-commerce solutions, routing & scheduling amid higher fuel costs, and freight visibility (i.e., MacroPoint)," said RBC.Descartes's customers are "increasingly utilizing more software" to help manage their operations, in light of increasing supply chain complexity and disruptions, RBC stated.Descartes is investing in the development of a new agentic AI layer on top of its core network, noted RBC.RBC believes AI agents leading to automated workflow will "increase the value and stickiness" of Descartes's network, while also creating new consumption-based revenue streams."AI agents increase visibility to the moat around Descartes's core business in an AI era," said RBC.RBC sees "compelling risk-reward, given healthy organic growth, continued margin expansion, and the likelihood of additional M&A," it said."With Descartes trading at the low end of its historical valuation range, we see attractive risk-reward on the stock," added RBC.Price: $110.10, Change: $+7.22, Percent Change: +7.02%

$DSG.TO$DSGX

Mining & Metals48d ago

TempraMed Technologies Up 25% as it Signs Agreement for Exclusive Distribution Partnership in Brazil With Mobil Saude

TempraMed Technologies (VIVI.CN) shares rose 25% on Thursday after it signed an agreement with Mobil Saude Comercial Ltda regarding the exclusive distribution of TempraMed products in Brazil.Under the agreement, Mobil Saude is expected to distribute TempraMed's portfolio initially including VIVI Cap, with the potential addition of VIVI Med, VIVI Epi, and VIVI Cap Smart as the partnership develops. The company said the arrangement contemplates a three-year exclusive distribution framework with minimum annual purchase commitments.Exclusivity would become effective following placement and full prepayment of the initial order, it said."Brazil is one of the world's largest and most strategically important markets for diabetes care and injectable therapies," said Chief Executive Ron Nagar. "Partnering with Mobil Saude has the potential to significantly expand access to our products while strengthening our commercial presence in the region."Shares of the company were last seen up $0.14 to $0.69 on the Canadian Securities Exchange.Price: $0.69, Change: $+0.14, Percent Change: +25.45%

$VIVI.CN

US Markets48d ago

Broadcom's Unchanged AI Outlook Likely Disappointed Investors, UBS Says

Broadcom's (AVGO) decision not to upgrade its 2027 artificial intelligence guidance apparently disappointed investors, especially as the chip designer reported strong semiconductor demand, UBS Securities said in a client note sent Thursday.Broadcom continues to expect AI semiconductor revenue in excess of $100 billion for fiscal 2027, Chief Executive Hock Tan's said during an earnings conference call late Wednesday. For fiscal 2026, Broadcom expects the metric to increase about 180% over the previous year to $56 billion.The company reported stronger-than-expected fiscal second-quarter results, with AI revenue more than doubling amid increased demand for custom accelerators and networking solutions. Broadcom saw bookings for its AI semiconductors exceeding $30 billion in the quarter, Tan told analysts, according to a FactSet transcript.But shares of Broadcom plunged nearly 15% intraday Thursday, trimming its year-to-date gain to about 19%."Orders were very strong, but (Broadcom) didn't raise AI revenue for either (fiscal) 2026 or 2027, (disappointing especially when compared to peers), with the issue being mostly one of supply," UBS analysts Timothy Arcuri and Natalia Winkler wrote.Broadcom's 2027 AI semiconductor revenue guidance is short of UBS' about $135 billion estimate, which the brokerage left unchanged."Ultimately, there is not a ton here to sway our view materially in either direction as new agreements continue to expand custom (application-specific integrated circuit) engagements," Arcuri and Winkler said.The brokerage lowered its calendar year 2027 earnings per share estimate to $23.19 from $23.84, though total revenue is now projected at about $213 billion, compared with its prior forecast of $205 billion.UBS reiterated its buy recommendation on the stock, while lowering the price target to $485 from $490.Price: $408.43, Change: $-70.80, Percent Change: -14.77%

$AVGO

Wire48d ago

Merck to Pay Over $50 Million to Settle More Than 200 Gardasil Cases, Bloomberg Reports

$MRK

Japan48d ago

US Equity Indexes Mixed in Midday Trading as Tech Takes Beating

US equity indexes were mixed in midday trading on Thursday amid a decline in technology shares, government bond yields, and crude oil futures.The Nasdaq Composite fell 0.3% to 26,778.1 in Thursday's midday trading. The Dow Jones Industrial Average jumped 1.7% to 51,530.2, and the S&P 500 rose 0.2% to 7,569.5.All sectors but technology and utilities rose, with healthcare, financials, and communications services topping the gainers.Broadcom (AVGO) shares sank 14%, among the worst performers on the S&P 500 and the Nasdaq.Hezbollah on Thursday rejected the latest ceasefire agreement between Israel and the Lebanese government, demanding a complete Israeli withdrawal from Lebanon as more fighting there hampered efforts to end the Iran war, the Associated Press reported. This comes as the House on Wednesday approved a war powers resolution that would halt US military action against Iran, according to a separate Associated Press report.If the resolution were to pass in the Senate, where 50 of 100 senators have appeared to support it, US President Donald Trump would be required to either withdraw troops from Iran or gain approval from Congress for the war, according to an analysis from CNN. The White House, which has signaled it believes the underlying law is unconstitutional, could try to ignore the resolution, per CNN.Brent crude futures dropped 3% to $94.81, and West Texas Intermediate crude oil futures fell 3.5% to $92.67.

Dow JonesNasdaq CompositeS&P 500$AVGO

Oil & Energy48d ago

EMEA Natural Gas Update: Futures Edge Lower Amid Conflicting Signals on US-Iran Talks

European natural gas futures slipped slightly in after-hours trade Thursday as progress stalled on resolving Middle East conflicts, easing back after a almost 4% gain in the prior session driven by renewed Middle East tensions earlier in the week.The Dutch TTF front-month contract edged down by 0.233% to 48.75 euros ($56.68) per megawatt-hour, while the UK NBP front-month contract lost 0.399% to 118.37 British pence ($1.59) per therm.While US President Donald Trump reportedly said negotiations were going well, Iranian state media cited Iranian officials saying there was no progress. The ceasefire appeared on the verge of collapsing earlier this week after Iranian media reported that Tehran had cut off talks with the US due to Israel's military campaign in Lebanon.However, the Wall Street Journal on Wednesday reported that US President Donald Trump privately told advisers he would consider ending the ceasefire with Iran if Tehran kills US troops.Trump reportedly appeared reluctant to restart the war and may tolerate limited flare-ups for weeks or months to avoid a broader Middle East conflict."The continued lack of progress toward ending the conflict is increasing the risk that flows from the Persian Gulf could remain disrupted for an extended period. This has fueled concerns that Europe could struggle to rebuild gas inventories ahead of winter," Trading Economics said.Gas Infrastructure Europe said EU inventories stood at just over 41% of capacity, compared with around 50% at this time last year.Europe could face a significant natural gas supply squeeze and be forced to pay sharply higher prices for LNG if the Strait of Hormuz remains closed through the summer, Oxford Institute for Energy Studies strategists said in a note on Wednesday.The OIES pegged spot prices above $20/MMBtu in Europe and Asia may be needed to curb demand and rebalance global flows.It said Europe needs about 70 Bcm of LNG imports to reach roughly 80% storage by Nov. 1, in line with 2025 levels, but explains that storage might instead reach about 70% due to lost Middle Eastern supply and stronger Asian competition. Reaching even 70% would require non-European LNG demand to fall by about 13 Bcm over the summer, or 2.2 Bcm per month and preliminary May data show little evidence of such demand destruction.ANZ analyst Daniel Hynes said in a note on Thursday that North Asia LNG prices are pushing towards $19/MMBtu as shortages are already emerging. LNG stockpiles held by Japanese utilities fell to 1.91 metric tons, down 2% from a week earlier and sit at the lowest level since February.

Insider Trading48d ago

Entegris Insider Sold Shares Worth $512,473, According to a Recent SEC Filing

James P Lederer, Director, on June 03, 2026, sold 3,569 shares in Entegris (ENTG) for $512,473. Following the Form 4 filing with the SEC, Lederer has control over a total of 18,277 common shares of the company, with 18,277 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1101302/000110130226000136/xslF345X05/wk-form4_1780590965.xmlPrice: $141.24, Change: $+0.91, Percent Change: +0.65%

$ENTG

Wire48d ago

Meta Platforms' Instagram Launches Optional Subscription Tier With New Customization Features

Meta Platforms' (META) Instagram is rolling out Instagram Plus globally, a new optional subscription tier offering exclusive features for users who want more control and customization.The subscription adds new audience controls, story-engagement insights, and profile-customization options, with the free version unchanged, Instagram said Thursday in a statement.Pricing for Instagram Plus has been reported at $3.99 per month by several media outlets.Price: $632.05, Change: $+9.07, Percent Change: +1.46%

$META

Mining & Metals48d ago

Transat Seals New Interline Partnership With Iberia in Spain

Transat AT (TRZ.TO) is expanding its footprint in Spain by striking a new interline partnership with Iberia, the company said on Thursday.Air Transat passengers can now connect via Madrid to more than 20 popular destinations including Palma de Mallorca, Ibiza, Tenerife and Alicante, a statement said.The airline now serves five Spanish destinations, including four operated year-round, Madrid, Barcelona, Malaga and Valencia."Spain is one of Air Transat's most important international markets, and we are proud to be the airline offering the widest range of Spanish destinations from Canada," said Sebastian Ponce, chief revenue officer at Transat. "This new partnership with Iberia builds on that leadership by giving our customers seamless access, via Madrid, to even more destinations across Spain."Transat shares were last seen down $0.06 to $2.50 on the Toronto Stock Exchange.Price: $2.50, Change: $-0.06, Percent Change: -2.34%

$TRZ.TO

Wire48d ago

Market Chatter: Goldman Sachs Sees SpaceX's AI Revenue Rising to $322 Billion by 2030

Goldman Sachs Group (GS) projects that SpaceX's (SPCX) $1.78 trillion initial public offering valuation depends on its artificial intelligence revenue growing about 100 times to $322 billion by 2030, the Financial Times reported Thursday.SpaceX's AI revenue is expected to rise 388% to $15.6 billion in 2026 and reach $34.5 billion in 2027, while total revenue is projected to rise to $474 billion in 2030 from $18.7 billion in 2025, the report said, citing projections discussed by the bank with a potential investor.The bank also projects revenue from Starlink and the rocket business at $144 billion and $8.3 billion, respectively, in 2030, while adjusted earnings before interest, taxes, depreciation, and amortization are forecast to surge to $352 billion in 2030 from $6.6 billion in 2025, the report said.Goldman Sachs declined to comment, while SpaceX didn't immediately reply to' request for comment.(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: $1087.44, Change: $+46.42, Percent Change: +4.46%

$GS$SPCX

Mining & Metals48d ago

Cybeats Technologies Up 5.4% After Securing New Contract With a "Global Leader" in Industrial Software

Cybeats Technologies (CYBT.CN) shares rose 5.4% on Thursday after it signed a major enterprise agreement to deploy its flagship platform, SBOM Studio, with a "global leader" in industrial software and critical infrastructure solutions. No financial details were given."This inherent "land-and-expand" dynamic accelerates sales cycles, simplifies corporate procurement, and drives compounding revenue growth without the traditional friction of net-new market entry," said the company in a statement.Shares of the company were last seen up $0.01 tot $0.20 on the Canadian Securities Exchange.Price: $0.20, Change: $+0.01, Percent Change: +5.41%

$CYBT.CN

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Commodities48d ago

Supply Disruptions Lift Refiner Q2 EPS Outlook Above Consensus, TPH Energy Says

$CVI$DINO$DK$PARR$PSX$VLO