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Sector Update: Energy Stocks Advance Monday Afternoon

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) fractionally higher.The Philadelphia Oil Service Sector Index was climbing 1.4%, and the Dow Jones US Utilities Index was falling 1.2%.In sector news, the US military blockade on all traffic entering and leaving Iranian ports started at 10 am ET Monday, after weekend peace talks in Pakistan faltered, CNN reported. "If any of these ships [that the president refers to as Iran's 'fast attack ships'] come anywhere close to our BLOCKADE, they will be immediately ELIMINATED," Trump said on a social media post.Separately, the Organization of the Petroleum Exporting Countries on Monday lowered its Q2 oil demand forecast due to the Middle East conflict, but maintained its full-year estimates amid expectations for a rebound in H2. The cartel sees global oil consumption at 105.1 million barrels a day in the ongoing three-month period, it said in its latest monthly market report. Last month, the organization projected demand at 105.6 million barrels per day in Q2.Front-month West Texas Intermediate crude oil was rising 3.2% to $99.72 a barrel, and the global benchmark Brent crude contract was advancing 5% to $99.93 a barrel. Henry Hub natural gas futures shed 0.6% to $2.63 per 1 million BTU.In corporate news, Chevron (CVX) and Shell (SHEL) are set to sign agreements involving oil and gas areas in Venezuela, Reuters reported. Chevron shares rose 1.2%, and Shell added 0.4%.GFL Environmental (GFL) agreed to acquire Secure Waste Infrastructure in a 6.4 billion-Canadian-dollar ($4.63 billion) deal that is expected to boost its waste management operations in Western Canada. GFL shares fell nearly 8%.Equinor (EQNR) shares added 1.3% after it said Monday its board has decided to propose a share capital reduction to shareholders through the cancellation of own shares and redemption of shares held by the Norwegian state following its 2025 buyback program.

$CVX$EQNR$GFL$SHEL

US Markets66d ago

UBS Tempers Fed Rate Cut Expectations Amid Inflation Concerns

The Federal Reserve will now likely deliver just one interest rate cut this year instead of two amid the oil price shock from the Middle East conflict, though the risks for the next rate reduction skew toward earlier rather than later, UBS Securities said in a note e-mailed Monday.Energy prices have soared following the US-Israel war with Iran that started at the end of February, with the crucial Strait of Hormuz effectively closed. Oil prices hovered around $100 a barrel intraday Monday as the deadline passed for the start of a US blockade of maritime traffic around Iran's ports."Headed into the oil price shock, we projected two rate cuts this year with risk of one," UBS economists, including Jonathan Pingle, said in a note to clients. "We now expect only one, a (25-basis-point) rate cut at the December (Federal Open Market Committee) meeting."The brokerage said the risks skew toward earlier rather than later for the next rate cut, based on its current assessment of the distribution of risks."Despite our assessment of FOMC dynamics and the labor market pointing to risk of nearer rate cuts, if the economy is not weakening sufficiently, or in time, and core and headline inflation are at or above 3%, there probably won't be much inclination to lower rates among the FOMC participants," the UBS economists wrote. "Evidence of any labor market weakness likely needs to accumulate before eliciting a response, and that takes time."Over the weekend, the US and Iran failed to reach a deal during negotiations in Pakistan, fueling concerns over an already fragile ceasefire between Washington and Tehran announced last week.Last week, minutes from the FOMC's March meeting showed that policymakers emphasized the need to be "nimble" in adjusting interest rates in light of heightened risks to inflation and employment driven by the Middle East conflict.Markets widely expect the Fed to keep interest rates unchanged at its meeting later this month, according to the CME FedWatch tool.For 2027, UBS is looking at two quarter-percentage-point rate cuts, according to the note.

Oil & Energy66d ago

US Natural Gas Update: Futures Retrace Gains on Poor Domestic Fundamentals

US natural gas futures reversed earlier gains by midday Monday, pressured by weak demand and strong supply that outweighed an early geopolitical risk premium.The front-month Henry Hub contract and the continuous futures both fell 0.38% to $2.64 per million British thermal units.Prices initially rose alongside crude oil on renewed concerns over energy flows through the Persian Gulf, after US President Donald Trump issued an order to blockade the Strait of Hormuz following failed peace talks with Iran over the weekend, Bloomberg reported. The rally faded as supply-demand fundamentals reasserted control.Weather expectations also shifted during the session. US natural gas futures had earlier been supported by weather forecasts and geopolitical tensions, but Bloomberg said forecasts changed again after Friday's close, which marked the lowest level in 17 months.Commodity Weather Group said above-normal temperatures across the eastern two-thirds of the US are expected to ease back toward seasonal norms starting Apr. 18 and continue through Apr. 27.Supply remained elevated. Lower 48 dry gas production on Monday was 118.8 billion cubic feet per day, or about 2.4% above year-ago levels, Bloomberg said.Demand indicators weakened further. Bloomberg estimated total US demand at about 4% below year-ago levels. NRG Energy said natural gas demand fell last week as warmer temperatures spread across the country, with consumption dropping from 90 Bcf/d to 75 Bcf/d.NRG Energy said residential and commercial demand accounted for most of the decline, while other sectors were relatively flat.On the export side, BNEF said LNG feedgas demand was 19.9 Bcf/d, up 1.5% from the previous week.

Wire66d ago

Sector Update: Tech Stocks Gain Monday Afternoon

Tech stocks were higher Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.2%.The Philadelphia Semiconductor index increased 0.8%.In corporate news, Microsoft (MSFT) is developing new features for Copilot it hopes will make the AI assistant function more like OpenClaw, The Information reported. Microsoft was up 2.9%.Amazon-backed (AMZN) Anthropic's latest AI model Claude Mythos has prompted UK financial regulators to assess risks it poses to IT systems, the Financial Times. Amazon shares were little changed.Meta Platforms (META) is developing an AI version of Chief Executive Mark Zuckerberg that can interact with employees, the Financial Times reported. Meta shares were flat.Aeluma (ALMU) shares surged 44% after the company said it has been awarded more than $4 million in contracts to scale the US government's semiconductor heterogeneous integration platform for quantum and high-speed datacom applications.

$ALMU$AMZN$META$MSFT

Wire66d ago

BlackRock Raises Rating on US Stocks to Overweight From Neutral

BlackRock (BLK) raised its rating on US stocks to overweight from neutral, citing recent U.S.-Iran talks as evidence of economic incentives to end the conflict."We flagged two signposts to dial up risk-taking after the Middle East conflict led us to reduce risk and turn neutral on U.S. equities a few weeks ago," BlackRock said Monday in its weekly commentary report. "First: evidence of actions that could re-open shipping traffic in the Strait of Hormuz. Second: signs that any lingering macro impact is contained. We eye developments on both fronts. Plus, corporate earnings expectations are up even through the conflict, partly on the AI theme."Price: $1014.79, Change: $+15.48, Percent Change: +1.55%

$BLK

Mining & Metals66d ago

Athena Gold Says Awarded $200,000 Grant from the Ontario Government

Athena Gold (ATHA.CN) on Monday said it has been awarded C$200,000 in non-dilutive grant funding from the Ontario government through the Ontario Junior Exploration Program (OJEP).Administered by the Ontario Ministry of Mines, the OJEP grant provides financial assistance to junior exploration companies to offset costs associated with grassroots mineral exploration."We send our gratitude to the Ontario Ministry of Energy and Mines for their ongoing commitment to supporting junior explorers like Athena," said chief executive Koby Kushner. "This non-dilutive funding will be used to help finance our maiden drill program at our Laird Lake project, where we are aiming to make the next great discovery in the historic Red Lake Gold Camp through our recently launched maiden drill program."Shares of the company were last seen down $0.04 at $0.51 on the Canadian Securities Exchange.Price: $0.51, Change: $-0.04, Percent Change: -7.27%

$ATHA.CN

Sectors66d ago

Sector Update: Consumer Stocks Mixed Monday Afternoon

Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) dropping 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.6%.In corporate news, Lululemon Athletica (LULU) is being investigated in Texas over the potential presence of PFAS, or forever chemicals, in its activewear products, the office of Texas Attorney General Ken Paxton said in a statement. Lululemon shares were fractionally lower.Somnigroup International (SGI) has agreed to acquire bedding and furniture components maker Leggett & Platt (LEG) in an all-stock deal worth about $2.5 billion. Somnigroup shares rose 2.8%, and Leggett & Platt jumped 13%.Delaware Court of Chancery Vice Chancellor Bonnie David said Monday that she supports Tesla (TSLA) shareholders' vote to have litigation pertaining to alleged corporate wrongdoing by Chief Executive Elon Musk take place in Texas, Bloomberg reported. Tesla shares were up 1.5%.McDonald's (MCD) plans to roll out a new lineup of cold beverages in the US, including a Red Bull Dragonberry Energizer, The Wall Street Journal reported. The fast food giant's shares were down 0.5%.

$LEG$LULU$MCD$SGI$TSLA

Mining & Metals66d ago

Bombardier Price Target Raised to $298.00 at RBC on Defence Momentum

RBC Capital Markets analyst James McGarragle raised his price target on the shares of Bombardier (BBD-B.TO) by $11.00 to $298.00 and reiterated his outperform rating.McGarragle is maintaining his first-quarter EBITDA forecast at $245 million, below consensus of $252 million.RBC's valuation multiple moves to 13.5x from 13x on continued defense momentum and solid demand signals, writes McGarragle. " We see runway for Bombardier to compound FCF at greater than a low-teen CAGR well into the 2030s - a compelling investment opportunity, in our view, for shares trading at a ~5% FCF yield."Price: $255.99, Change: $-2.03, Percent Change: -0.79%

$BBD-B.TO

Wire66d ago

BlackRock Raises Rating on US Stocks to Overweight From Neutral

$BLK

Sectors66d ago

Sector Update: Health Care Stocks Softer Monday Afternoon

Health care stocks declined Monday afternoon, with the NYSE Health Care Index down 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.3%.The iShares Biotechnology ETF (IBB) added 0.8%.In corporate news, Replimune (REPL) is facing "significant risk" related to its ongoing phase 3 trial of RP1 in melanoma after the US Food and Drug Administration rejected the company's biologics license application for the product candidate, Wedbush Securities said in a note. Wedbush downgraded its rating on Replimune to neutral from outperform, with a lower price target of $2 from $19. Replimune shares tumbled 64%.Seer (SEER) shares jumped 12%. The company has received a non-binding proposal from the Radoff-JEC Group to acquire the company for $2.25 per share in cash plus a contingent value right, the latter said.Revolution Medicines (RVMD) shares surged 39% after it said Monday the phase 3 trial of its experimental drug daraxonrasib to treat a type of pancreatic cancer met key goals.Spyre Therapeutics (SYRE) shares jumped 28% after the company said its SPY001 investigational treatment for moderate-to-severely active ulcerative colitis met its primary and key secondary endpoints in a phase 2 trial.

$REPL$RVMD$SEER$SYRE

International66d ago

US Equity Indexes Rise Amid Tech Gains; Crude Oil Jumps as Hormuz Blockade Takes Effect

US equity indexes were higher in Monday's midday trading amid gains in technology and financials.Crude oil futures jumped as geopolitical risk mounted after Iran negotiations failed to yield a lasting peace deal.The Nasdaq Composite rose 0.7% to 23,061.8, and the S&P 500 climbed 0.5% to 6,849.6. Both gauges traded lower earlier in the session. The Dow Jones Industrial Average was slightly up at 47,944.8.Defensive sectors -- consumer staples and utilities -- led the decliners. The financial services sector was among the top gainers, ahead of quarterly earnings from mega-cap banks due this week.Goldman Sachs (GS), which reported higher Q1 earnings and net revenue pre-bell, is launching a new three-tranche offering in the US investment-grade debt market, with bond maturities spanning four to eight years, Bloomberg said Monday, citing a person with direct knowledge of the matter.Shares of the investment bank dropped 2.5% intraday, the steepest decline on the Dow.Further in company news, Oracle (ORCL) said it introduced AI-focused updates to its utilities software suite at its customer edge summit, targeting improvements in billing, grid operations, and asset management. Shares of the technology giant were up 11% intraday, the top gainer on the S&P 500.The recent sell-offs in Microsoft (MSFT), Salesforce (CRM), and ServiceNow (NOW) amid broader software apathy are disconnected from the artificial intelligence opportunities over the coming years, as enterprises prioritize integrating AI across tech stacks, Wedbush said in a note. Shares of Salesforce and Microsoft were up 4.7% and 2.9%, respectively, intraday, the Dow's top gainers.Meanwhile, the CBOE Volatility Index was still up 3.7% to 19.93, after touching an intraday high of 21.58, as geopolitical risk remained elevated after the Iran peace talks brokered by Pakistan ended without an agreement with the US.The US military blockade on all traffic entering and leaving Iranian ports started at 10 a.m. ET Monday, after weekend peace talks in Pakistan faltered, CNN reported Monday. "If any of these ships [a reference to what the president calls Iran's 'fast attack ships'] come anywhere close to our BLOCKADE, they will be immediately ELIMINATED," President Donald Trump said on a social media post.Iran responded by saying that no port in the Persian Gulf or the Sea of Oman would be safe if its ports are threatened, The Wall Street Journal reported Monday."Once again, high stakes negotiations between the US and Iran deadlocked over Washington's zero uranium enrichment demand, setting the stage for further escalation in the 6-week war and prolonged supply disruptions in advance of summer driving season," Helima Croft, head of global commodity strategy and MENA research at RBC Capital Markets, said in a note.West Texas Intermediate crude oil futures jumped 5.3% to $101.68, and Brent crude futures climbed 5.5% to $100.40, after surging more than 7.5% earlier in the session.US Treasury yields rose as gains in crude oil futures reignited inflation concerns. The 10-year yield was up 1.6 basis points to 4.33%, and the two-year rate climbed 1.3 basis points to 3.81%. In precious metals, gold futures fell 1.3% to $4,726.9 and silver futures declined 3.3% to $73.97.In US economic news, the pace of US existing home sales fell by 3.6% to a 3.98 million seasonally adjusted annual rate in March from 4.13 million in February, compared with a smaller decrease expected to a 4.05 million rate in a survey compiled by Bloomberg as of 7:30 am ET, data from the National Association of Realtors released Monday showed. Total sales were down 1% from a year earlier."March home sales remained sluggish and below last year's pace," said NAR Chief Economist Lawrence Yun. "Lower consumer confidence and softer job growth continue to hold back buyers."

Dow JonesNasdaq CompositeS&P 500$CRM$GS$MSFT$NOW$ORCL

Sectors66d ago

Sector Update: Financial Stocks Rise Monday Afternoon

Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1%.The Philadelphia Housing Index was increasing 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.2%.Bitcoin (BTC-USD) was rising 2.3% to $72,375, and the yield for 10-year US Treasuries was slightly lower at 4.309%.In economic news, the pace of US existing home sales fell by 3.6% to a 3.98 million seasonally adjusted annual rate in March from 4.13 million in February, compared with a smaller decrease expected to a 4.05 million rate in a survey compiled by Bloomberg as of 7:30 am ET, data from the National Association of Realtors released Monday showed.In corporate news, Goldman Sachs (GS), which reported higher Q1 earnings and net revenue pre-bell, is launching a new three-tranche offering in the US investment-grade debt market, with bond maturities spanning four to eight years, Bloomberg reported. Goldman shares were down 2%.Blackstone (BX) is partnering with I Squared Capital on a potential offer for the core advertising business of German media group Stroer, Bloomberg reported. Blackstone shares gained 5.2%.KKR (KKR) said its real estate arm plans to significantly ramp up property acquisitions in Japan, targeting a market it estimates at about 450 trillion yen ($2.8 trillion), as companies increasingly divest non-core assets, Bloomberg reported. KKR shares climbed 6.2%.

$BX$GS$KKR

Oil & Energy66d ago

34 Ships Transited Strait of Hormuz on Sunday, Trump Says; 'Highest' Since Closure

Sectors66d ago

Sector Update: Energy

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.3%.The Philadelphia Oil Service Sector Index was climbing 1.4%, and the Dow Jones US Utilities Index was falling 1.2%.In sector news, oil prices rose Monday as a deadline passed for the start of a US blockade of maritime traffic around Iran's ports. The blockade of maritime traffic entering and exiting Iranian ports was set to start at 10 am ET on Monday, according to a statement issued by the US Central Command, or CENTCOM, on Sunday.Front-month West Texas Intermediate crude oil was rising 3.2% to $99.72 a barrel, and the global benchmark Brent crude contract was advancing 5% to $99.93 a barrel. Henry Hub natural gas futures shed 0.6% to $2.63 per 1 million BTU.In corporate news, Chevron (CVX) and Shell (SHEL) are set to sign agreements involving oil and gas areas in Venezuela, Reuters reported. Chevron shares rose 1%, and Shell added 0.5%.

$CVX$SHEL

Mining & Metals66d ago

Air Canada Price Target Lowered to $22.00 at RBC

RBC Capital Markets cut its price target on the shares of Air Canada (AC.TO) by $3.00 to $22.00, to reflect the evolving geopolitical landscape, but reiterated its outperform rating.Analyst James McGarragle's trimmed his estimate for 2026 EBITDA to $3.0 billion, below management's guidance of $3.35 billion to $3.75 billion, reflecting elevated jet fuel costs (and the expected negative impact to demand as higher costs are passed through), "though we see upside should fuel prices normalize on a peace deal."McGarragle anticipates the carrier will implement fare increases in the second quarter to recover elevated fuel costs through both surcharges and base ticket adjustments. "We continue to view 2026 as a transitory year and anticipate a significant FCF inflection in 2028-2029 off normalizing capital expenditures."Price: $18.82, Change: $+0.06, Percent Change: +0.32%

$AC.TO

Mining & Metals66d ago

Nicola Mining Announces Nasdaq Listing and Pricies US$6 Million Offering

Nicola Mining (NIM.V) on Monday priced its US$6-million underwritten public offering of share units in the United States.The company said it is offering 930,233 American Depositary Share (ADSs) units priced at US$6.45 including an ADS and a five-year warrant with an exercise price of C$12.2213.The company said each ADS represents 12 shares of Nicola.The ADSs are expected to begin trading today on the Nasdaq Capital Market under the ticker symbol "NICM".The company plans to use the net proceeds for mill expansion, property, plant and equipment expenditures and general and administrative and working capital.The company's shares were last seen down C$0.06 to C$0.87 on the TSX Venture Exchange.Price: $0.88, Change: $-0.05, Percent Change: -5.38%

$NICM$NIM.V

Wire66d ago

Cosmos Health Gets New 60,000-Unit Sky Premium Life Order From Pharmalink

Cosmos Health (COSM) received a new purchase order for 60,000 units of its Sky Premium Life products from Pharmalink under their exclusive distribution agreement for the United Arab Emirates market.This is the third straight order from Pharmalink, bringing cumulative orders since June 2024 to 270,000 units, Cosmos Health said Monday in a statement.Price: $0.31, Change: $+0.02, Percent Change: +6.14%

$COSM

Asia Markets66d ago

Exchange-Traded Funds Rise, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV rose. Actively traded Invesco QQQ Trust (QQQ) added 0.5%.US equity indexes were mixed in Monday's midday trading, with technology topping sector charts and helping lift the Nasdaq Composite.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each gained about 0.3%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was up 1.4%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) each added 1.1%.The State Street SPDR S&P Semiconductor (XSD) gained 2.2%, and iShares Semiconductor (SOXX) was up 0.9%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 1%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 2.7%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 2.8%.CommoditiesCrude oil rose 3.6%, and the United States Oil Fund (USO) advanced 4.1%. Natural gas fell 0.2%, and the United States Natural Gas Fund (UNG) dipped 0.9%.Gold on Comex lost 0.5%, and the State Street SPDR Gold Shares (GLD) fell 0.4%. Silver shed 1%, and iShares Silver Trust (SLV) dropped 1.1%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) eased 1.2%. The Vanguard Consumer Staples ETF (VDC) fell 1.3%, and iShares Dow Jones US Consumer Goods (IYK) was 1.1% lower.The State Street Consumer Discretionary Select Sector SPDR (XLY) rose 0.4%. VanEck Retail ETF (RTH) dropped 0.8%, while the State Street SPDR S&P Retail (XRT) added 0.3%.Health CareThe State Street Health Care Select Sector SPDR (XLV) eased 0.2%, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) dropped. IShares Biotechnology ETF (IBB) rose 0.7%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 0.2%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) also edged higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) rose 1.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 1.4%, ProShares Ether ETF (EETH) slipped 1.3%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was down 1.6%.

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

Wire66d ago

Update: Market Chatter: Blackstone Said to Mull Joint Bid With I Squared for Stroer Unit

(Updates with I Squared Capital's response to a request for comment.)Blackstone (BX) is partnering with I Squared Capital on a potential offer for the core advertising business of German media group Stroer, Bloomberg reported Monday, citing people familiar with the matter.I Squared declined to comment, while Blackstone didn't immediately reply 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: $120.87, Change: $+6.04, Percent Change: +5.26%

$BX

Wire66d ago

Update: Market Chatter: Chevron, Shell to Sign Deals for Venezuelan Oil, Gas Assets

(Updates with decline to comment from Shell in fourth paragraph.)Chevron (CVX) and Shell (SHEL) are set to sign agreements involving oil and gas areas in Venezuela, Reuters reported Monday, citing three sources close to the discussions.Chevron is expected to agree to return an offshore gas field to the Venezuelan government and take part in an extra-heavy crude project in the country's main oil region, the report said.Shell is expected to sign a deal to receive the Loran gas field for operation, the report said.Shell declined to comment, while Chevron did not immediately respond to a request for comment from.Chevron shares rose 1.1% in Monday trading, and Shell gained 0.4%.(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: $190.68, Change: $+2.13, Percent Change: +1.13%

$CVX$SHEL

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International66d ago

US Equity Indexes Rise Amid Tech Gains; Crude Oil Jumps as Hormuz Blockade Takes Effect

Dow JonesNasdaq CompositeS&P 500$CRM$GS$MSFT$NOW$ORCL