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Sector Update: Tech

Technology stocks were rising pre-bell Friday, with the State Street Technology Select Sector SPDR Fund (XLK) advancing by 1.2% and the State Street SPDR S&P Semiconductor ETF (XSD) 1% higher.Dell Technologies (DELL) shares were up more than 33% after the company reported fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.

$DELL

Equities49d ago

Update: Market Chatter: Chevron's Tengiz Oilfield Output Drops After Accident

(Updates with Chevron's statement in the fourth and fifth paragraphs, adds details on Tengizchevroil in the last paragraph)Chevron's (CVX) oil production at its Tengiz field in Kazakhstan dropped significantly on Tuesday after an accident, Reuters reported Friday, citing industry sources.Output fell to between 5,000 and 10,000 metric tons on Tuesday from typically 125,000 tons a day, according to the report.Production climbed to around 82,000 metric tons on Wednesday and is expected to be restored gradually within about a week, Reuters said."On May 28, 2026, Tengizchevroil (TCO) experienced a minor operational disruption at one of its facilities. TCO production is under restoration at present," Chevron toldin an emailed statement."Beyond this, TCO does not comment on specific details of its operations and commercial matters," they added.Tengizchevroil is a joint venture between Chevron, ExxonMobil (XOM), KazMunayGas, and Lukoil.(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.)

$CVX$XOM

Asia Markets49d ago

Tentative US-Iran Ceasefire Extension Agreement Nudges US Equity Futures Higher Pre-Bell

US equity futures edged higher pre-bell Friday as traders monitored developments on the peace negotiations between US and Iran, with the two countries reportedly agreeing on a memorandum of understanding to extend the ceasefire by 60 days.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were flat.The memorandum still has to be approved by President Donald Trump, and Iran has not yet given a response to the latest version. Vice President JD Vance said the talks are making progress but still ongoing, while Treasury Secretary Scott Bessent confirmed that the negotiation teams have been "going back and forth."Iran reportedly fired missiles at unidentified targets on Thursday while the Pentagon said Iran had launched a ballistic missile towards Kuwait and deployed attack drones in the Strait of Hormuz.Traders also digested the latest round of earnings, with Costco Wholesale (COST) posting higher fiscal Q3 earnings and revenue late Thursday.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.7% at $91.14 per barrel and US West Texas Intermediate crude 1.5% lower at $87.58 per barrel.The US advance international trade in goods deficit narrowed to $82.40 billion in April from $85.27 billion in March, according to data released by the US Census Bureau.The Chicago purchasing managers index for May, due at 9:45 am ET, is seen coming in at 50.3, up from its prior value of 49.2.Federal Reserve Vice Chair Michelle Bowman, Philadelphia Fed President Anna Paulson, and San Francisco Fed President Mary Daly are slated to speak on Friday.In other world markets, Japan's Nikkei closed 2.5% higher, Hong Kong's Hang Seng ended 0.7% higher, and China's Shanghai Composite finished 0.7% lower. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was flat in Europe's early afternoon session.In equities, Dell Technologies (DELL) shares were up 33% after the company reported higher fiscal Q1 non-GAAP net income and revenue that surpassed analysts' consensus. IBM (IBM) stock was 4.4% higher after the company said in a filing that it plans to invest more than $10 billion over the next five years to support quantum computing development. CoreWeave (CRWV) shares rose 1.4% after the company said it launched new agentic artificial intelligence capabilities designed to connect AI model training and inference in a continuous feedback loop to improve performance over time.On the losing side, Autodesk (ADSK) shares were down 6.6% after multiple analyst price target cuts, including those by RBC and BMO Capital. JD.com (JD) stock was 1.1% lower after the European Commission said it launched an in-depth investigation over the company's proposed acquisition of Ceconomy due to concerns that foreign subsidies may have distorted the deal process.

Dow JonesNasdaq CompositeS&P 500$ADSK$COST$CRWV$DELL$IBM$JD

Commodities49d ago

Conflicting Reports on Iran, US MOU as Iranian Media Now Claims Draft Not Finalized Yet

The text of a potential agreement between US and Iran has not been finalized, multiple media outlets reported, citing a report by Iran's Tasnim News Agency.Media reports stating that the text of the memorandum of understanding has been finalized are inaccurate, citing Tasnim news agency.Earlier on Thursday, Axios reported that US and Iranian negotiators have tentatively agreed to a 60-day memorandum of understanding to extend the ceasefire and begin talks on Iran's nuclear program. The MOU is pending US President Donald Trump's final approval, Axios reported, citing two US officials and a regional source involved in the mediation.Now, several reports are citing Tasnim that Iran has not reached out yet to the Pakistani mediator about the final draft and both the mediator and the public would be notified upon completion of the MOU.The proposed deal could be announced as early as Sunday, Axios had reported earlier, although officials cautioned it has not been finalized and could still collapse.US Vice President JD Vance also hinted on Thursday while address the media that the deal might take a while to materialize.

Treasury49d ago

Canada's March GDP Falls 0.1%, Misses Expectations; April Seen Rebounding 0.4%

Canadian real gross domestic product edged down 0.1% month over month in March, partially offsetting February's increase of 0.2% and driven by contractions in goods-producing industries, said the country's statistical agency on Friday.March's contraction was worse than a 0.1% month-over-month consensus expansion provided by MUFG.Goods-producing industries contracted 0.8% in March for the fifth decline in the last six months, noted Statistics Canada. The decrease in March was in large part a reflection of lower activity in the mining, quarrying, and oil and natural gas extraction sector, and in the construction sector. Services-producing industries tempered the decline, edging up 0.1% in March. Overall, eight of the 20 industrial sectors contracted in March.Advance information indicates that real GDP increased 0.4% in month over month April, added StatsCan. Increases in mining, quarrying, and oil and gas extraction, manufacturing and transportation, and warehousing were partially offset by decreases in agriculture, forestry, fishing and hunting.Real GDP was unchanged in Q1 quarter over quarter, after declining 0.2% in Q4 2025. Higher imports of goods, particularly gold, were offset by accumulations of business inventories. Decreased business and government capital investment was counterbalanced by higher household spending, as final domestic demand edged 0.1% lower.GDP and Income and Expenditure Accounts measure the production of goods and services in the Canadian economy as well as the incomes arising from this production and expenditure on the production. GDP represents the unduplicated value of goods and services produced during the reference period and are available for domestic consumption, investment or export.

S&P/TSX CompositeS&P/TSX Composite$CXY

Treasury49d ago

Bartlett On BNN TV Adds "I Think It Is Too Tough To Call"

$CXY

Treasury49d ago

Bartlett On BNN TV Says He Will Have To Take a Broad Based Look at Today's GDP Data Before Calling It On Whether Or Not Canada Is In a Recession

$CXY

Mining & Metals49d ago

Aptose Biosciences Says Acquisition by Hanmi Delayed Until June

Aptose Biosciences' (APS.TO) acquisition by Hanmi has been further delayed as certain Korean regulatory approvals remain in progress, the company said on Friday.The parties do not anticipate that the review will prevent closing and are working toward completing the arrangement in June, a statement said.The company has received an additional advance of US$2.0 million from Hanmi as part of a US$11.9 million loan amended facility agreement announced last year. To date, Aptose has received US$9.9 million. The funds enable uninterrupted continuance of the Tuscany clinical trial with tuspetinib in combination with venetoclax and azacitidine for the frontline treatment of newly diagnosed acute myeloid leukemia (AML).Aptose shares closed unchanged at $2.28 on Thursday on the Toronto Stock Exchange.

$APS.TO

Sectors49d ago

Oil Trading at a Six-Week Low on Reports Iran and the U.S. May be Nearing a Peace Deal

Oil traded at a six-week low early Friday on reports the United States and Iran will extend their tenuous ceasefire while a Trump Administration official said the two sides are nearing a deal to end the war.West Texas Intermediate crude oil for July delivery was last seen down $1.26 to US$87.64 per barrel, the lowest since April 17, while July Brent oil was down $1.55 to US$92.16.The Wall Street Journal reported U.S. Treasury Secretary Scott Bessent said the Trump Administration is near a deal to end the war, which enters its fourth month today. The paper said President Trump is pressing for Iran to for a commitment to surrender its stocks of enriched uranium and fully reopen the Strait of Hormuz. Thursday reports that the two countries have extended a ceasefire for 60 days is also pressing prices.The Strait has been mostly closed to shipping since the Feb. 28 start to the war, blocking exports from the Persian Gulf nations that supplied 20% of daily oil demand. A peace deal could see shipping resume, but Iran is likely to maintain control of the waterway once hostilities end."Any end to the conflict that leaves Iran exercising operational control and influence over the Strait will result in appreciably lower flows through the waterway in our view. Moreover, we struggle to see how a sizeable number of Western shipping companies will be willing to risk transiting the waterway even if a 60-day MoU is inked, given the ever-present risk of recurrent rounds of military action involving missiles, drones, and mines. These factors are compounded by extremely elevated insurance rates as well as the legal difficulties associated with paying or coordinating with IRGC entities under US sanctions," Helima Croft, Head of Global Commodity Strategy and MENA Research at RBC Capital Markets, wrote.Still, hopes for a full return of Persian Gulf have cut into oil prices, which are posting their largest monthly drop in six years on expectations for a peace deal. However prices are not expected to soon return to pre-war levels as importing countries rebuild depleted inventories."While significant hurdles remain, the market is reacting to the prospect of a supply surge once hundreds of tankers loaded with crude oil and refined fuels are released from the Persian Gulf. In the months ahead, however, demand to replenish depleted global inventories is likely to provide support, potentially lifting the price floor compared with pre-war levels," Saxo Bank noted.

$CLN6$LCON6$USO

International49d ago

US April Advance Trade Gap Smaller Than Expected, Inventories Up

The US advance international trade in goods deficit narrowed to $82.40 billion in April from $85.27 billion in March, according to data released by the US Census Bureau.This was a smaller gap than the $87 billion deficit expected in a survey compiled by Bloomberg.Exports rose by 4.0% in April while imports were up 1.9%.In the same report, wholesale inventories rose by 0.5% in April after a 1.5% increase in March. Analysts polled by Bloomberg expected wholesale inventories to increase by 0.8%.Retail inventories were up 0.7% in April following a 0.7% increase in the previous month. This was a larger increase than the 0.5% increase expected by analysts. Excluding a 0.9% increase in motor vehicle inventories, retail inventories increased by 0.6% in the month.

Treasury49d ago

Bartlett On BNN TV Notes May Be Some Reconciliation Happening Between How StatsCan Looked at Govt Investments In Weapons Systems Between Late 2025 and Now

$CXY

Mining & Metals49d ago

South Bow Secures 20-Year Binding Commitments During Open Season

South Bow (SOBO.TO) secured 20-year binding commitments during its open season for firm transportation service from Hardisty, Alberta, to U.S. delivery points, the company said Friday.The development represents a milestone for South Bow's Prairie Connector project and underscores the need for market access for Western Canadian crude oil, the company said.The project includes the construction of about 380 kilometers of 36-inch pipeline and associated facilities, as well as the use of about 150 km of previously installed and preserved 36-inch pipeline and two pump stations.The pipeline would extend from Hardisty to the Canada-U.S. border, where it would connect to Bridger Pipeline's downstream facilities.South Bow aims to make a final investment decision for the project in mid-2027.

$SOBO.TO

Treasury49d ago

Bartlett On BNN TV Says Big Surprise Is Domestic Demand Edged Down In Q1 Despite Higher Household Spending

$CXY

Research49d ago

Morgan Stanley Boosts Agility Global PT, Affirms Overweight Rating

Morgan Stanley on Thursday raised its price target for investment and asset management company Agility Global (ADX:AGILITY) to 2.30 Emirati dirhams from 1.80 dirhams, while maintaining its overweight rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

ADX:AGILITY

Research49d ago

AlphaValue/Baader Europe Downgrades WPP to Add, Trims PT

AlphaValue/Baader Europe on Friday downgraded communications and advertising company WPP (WPP.L) to add from buy and reduced its price target to 3.50 pounds sterling from 3.54 pounds.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$WPP.L

Research49d ago

Roemer Capital Raises Tawuniya's PT, Affirms Buy Rating

Roemer Capital on Thursday raised the price target for insurance company The Co. for Cooperative Insurance (SASE:8010), d/b/a Tawuniya, to 170.00 Saudi riyals from 154.00 riyals and kept its rating at buy.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

SASE:8010

Research49d ago

UBS Downgrades Orkla to Sell Rating, Cuts PT

UBS on Friday downgraded Norwegian industrial investment company Orkla (ORK.OL) to sell from neutral and reduced its price target to 89 Norwegian kroner from 130 kroner.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$ORK.OL

Research49d ago

AlphaValue/Baader Europe Upgrades Erste Group to Add, Lifts PT

AlphaValue/Baader Europe on Thursday raised Austrian lender Erste Group Bank (EBS.VI) to add from reduce and increased its price target to 117 euros from 110 euros.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$EBS.VI

Research49d ago

BNP Paribas Lifts Dassault Aviation PT, Keeps Outperform Rating

BNP Paribas on Friday increased its price target for French aerospace company Dassault Aviation (AM.PA) to 350 euros from 340 euros, while maintaining its outperform rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$AM.PA

Research49d ago

AlphaMena Cuts Cenomi Retail PT, Keeps Buy Rating

AlphaMena on Friday decreased the price target for Saudi Arabian retailer AFG International Co. (SASE:4240), d/b/a Cenomi Retail, to 17.30 Saudi riyals from 21.10 riyals, while retaining its buy rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

SASE:4240

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Asia Markets49d ago

Tentative US-Iran Ceasefire Extension Agreement Nudges US Equity Futures Higher Pre-Bell

Dow JonesNasdaq CompositeS&P 500$ADSK$COST$CRWV$DELL$IBM$JD