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Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Friday afternoon, with the NYSE Energy Sector Index fractionally higher and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.9%.The Philadelphia Oil Service Sector Index was shedding 0.5%, and the Dow Jones US Utilities Index was down 0.4%.In sector news, oil prices stabilized at under $100 a barrel on Friday ahead of US-Iran talks in Pakistan as markets sought clarity on whether this weekend's huddle in Islamabad could lead to a long-term peace deal. Earlier in the week, the US and Iran agreed to a two-week ceasefire, pausing a war that had spread across the Middle East and curtailed shipments through the crucial Strait of Hormuz. Oil prices on Wednesday posted their sharpest one-day pullback since 2020 after the ceasefire announcement.Front-month West Texas Intermediate crude oil fell 2.3% to $95.58 a barrel, and the global benchmark Brent crude contract shed 1.7% to $94.39 a barrel. Henry Hub natural gas futures fell 1.1% to $2.64 per 1 million BTU.In corporate news, ConocoPhillips (COP) has sent a team to Venezuela to evaluate the prospects of oil drilling in the country, the company said in an emailed statement to. ConocoPhillips shares were down 1.2%.Shell (SHEL) confirmed in an email toon Friday that it is in talks with Venezuela to produce natural gas at the Loran-Manatee offshore field, which crosses the border of Venezuela and Trinidad and Tobago. The company expects to produce gas from Manatee in 2027 but has yet to take a final investment decision on the Loran field, according to a spokesperson. Shell shares were up 1.3%.The Port of Antwerp in Belgium, which is home to European refineries operated by Exxon Mobil (XOM) and TotalEnergies (TTE), was blocked following an oil spill during a ship refueling operation, preventing large vessels from entering or leaving the port, the port authority said Friday. Exxon shares shed 0.8%, and TotalEnergies was up 2.9%.EQT (EQT) and Glencore committed to acquiring an extra 1 million metric tons of liquefied natural gas annually from Commonwealth LNG through 20-year agreements, Reuters reported, citing a regulatory document. EQT shares were down 1.4%.

$COP$EQT$SHEL$TTE$XOM

Wire80d ago

Top Cryptocurrencies Rise; Bitcoin Holds Above $73,000 Level

Major digital assets rose Friday, with Bitcoin (BTC-USD) holding above the $73,000 level.The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, rose 1.2% in the past 24 hours. The Nasdaq 100 rose 0.1%, the S&P 500 fell 0.2%, and the Dow Jones Industrial Average decreased 0.6%.Bitcoin rose 1.2% to $73,110, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume rose 10.3% to $39.1 billion.Ethereum (ETH-USD), the second-largest digital asset by market value, climbed 1.3% to $2,250.XRP (XRP-USD) advanced 0.3%, BNB (BNB-USD) was little changed, and Solana (SOL-USD) rose 1.4%. Dogecoin (DOGE-USD) climbed 1.2%, while Cardano (ADA-USD) gained 0.7%.The US 10-year Treasury yield stood at 4.315% at 3 p.m. ET Friday, up from 4.287% Thursday, while the five-year yield rose to 3.939% from 3.911%.The total market value of the cryptocurrency industry advanced 1.4% in the past 24 hours to $2.48 trillion, with trading volume gaining 1% to $149.95 billion.Price: $73096.51, Change: $+1312.99, Percent Change: +1.83%

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

Commodities80d ago

France Reportedly Plans $12 Billion Annual Push to Cut Fossil Fuel Dependence

France plans to raise support for electrification to about 10 billion euros ($12 billion) annually through 2030, aiming to reduce reliance on imported fossil fuels amid global energy disruptions, according to multiple media reports.Prime Minister Sebastien Lecornu said the government will increase annual support to 10 billion euros from about 5.5 billion euros, focusing on long-term electrification instead of short-term fuel subsidies.France currently relies on imported fossil fuels for about 60% of its energy use, despite having significantly cheaper domestically produced electricity, Lecornu said in a televised address.The government aims to replace 85 terawatt-hours of gas consumption, roughly 20% of imports, with domestic electricity by 2030 as part of the transition strategy, according to the reports.Measures include installing about one million additional heat pumps annually and phasing out gas boilers in new residential buildings starting next year.By 2050, around two million social housing units are expected to eliminate gas heating, Lecornu added.France is also targeting a sharp rise in electric vehicle adoption, aiming for two out of three new car sales to be electric by 2030.Automakers are set to increase electric vehicle production to 400,000 units annually by 2027, with output targeted to reach one million units per year by 2030.The government will also roll out subsidized EV leasing from June, aimed at helping at least 50,000 low-income households access electric mobility.The government said funding will be reallocated from existing budgets and from efficiency gains, rather than through new spending, helping maintain fiscal discipline targets.Officials emphasized avoiding broad fuel subsidies, arguing such measures are costly and mainly benefit oil-exporting nations without addressing structural energy challenges.The policy shift marks a departure from earlier crisis-era support programs, as France prioritizes long-term electrification to stabilize energy costs and improve resilience.

Sectors80d ago

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.7% and the State Street SPDR S&P Semiconductor ETF (XSD) rising 2.4%.The Philadelphia Semiconductor index climbed nearly 3%.In corporate news, Amazon-backed (AMZN) Anthropic is exploring plans to design its own AI chips as it grapples with industry-wide shortages, Reuters reported. Amazon shares were up 2%.ServiceNow (NOW) shares fell 8.3%. The enterprise software company's competitive advantage may have eroded amid growing evidence that workflow automation tasks can be automated by harnessing AI models, UBS Securities said in a note. The brokerage downgraded its rating on the stock to neutral from buy and lowered its price target to $100 from $170.CoreWeave (CRWV) shares surged past 10% after the AI cloud computing company struck a deal to support the development and deployment of Anthropic's Claude AI models.Commvault Systems (CVLT) is exploring a sale after receiving takeover interest from multiple private equity firms and strategic buyers, Reuters reported. The data protection software provider is working with Goldman Sachs (GS) to weigh its options, the report said. Commvault shares popped 9%.

$AMZN$CRWV$CVLT$NOW

Commodities80d ago

Money Managers Maintain Bullish Bets in Crude Markets, CFTC Says

Money managers in the WTI crude futures and options markets maintained their net long positions in the week ended Apr. 7, according to the Commodity Futures Trading Commission's latest Commitments of Traders report released Friday.The data showed that money managers reported 223,091long positions, up 8,334 from Mar. 31, while short positions were also up 1,213 to 85,253.Producers, merchants, processors, and users held 724,168 long positions and 418,520 short positions.

Wire80d ago

Versamet Royalties Completes Eskay Creek Gold Stream Acquisition

Versamet Royalties (VMET) said Friday it completed the acquisition of a 3.52% gold stream on the Eskay Creek gold-silver project in Canada for $340 million in cash and about 2.05 million common shares issued to sellers.The company acquired the stream from fund entities managed by Orion Resource Partners and affiliates of Blackstone (BX), with the deal partly financed through a $400 million amended credit facility.Eskay is projected to produce an average of over 300,000 ounces of gold per year in its first five years, Versamet said.Shares of Versamet were down nearly 4% in Friday trading.Price: $12.09, Change: $-0.32, Percent Change: -2.57%

$VMET

International80d ago

USD/CAD Direction Driven By Iran Conflict, Rate Differentials, RBC Says

RBC Capital Markets on Friday said the USD/CAD pair is net down about 0.5% since its last update on March 27, rallying into Trump's self-imposed deadline and selling off as markets priced in a de-escalation in the Iran conflict.RBC, in its CAD Weekly Soundbites, said this morning's U.S. and Canada data are unlikely to change the Fed and Bank of Canada's "hold" stances for the foreseeable future. Hence, USD/CAD direction is likely to be a function of whether markets are pricing an escalation (USD-higher) or a de-escalation (USD-lower), with crude oil prices acting as a partial offset in the opposite direction.The more prolonged the Iran conflict is and its subsequent impact on energy prices and supply chains, the more likely it is that markets will focus on the monetary and fiscal responses in developed markets, RBC said.If both the Fed and the BoC are on hold, then the currently wide rate differentials will act as a floor to USD/CAD, but if the central banks' reaction functions start to show divergences, that can impact USD/CAD's direction and weaken CAD's mini-dollar status, RBC added.From a technical perspective, George Davis at RBC said a bearish trend reversal below 1.3860 has ended the near-term uptrend of the past month, with prices now probing the 200-dma at 1.3818. Below here, the focus would shift down to an old triple top from February-March at 1.3728. Initial resistance is now located at 1.3874, followed by stronger resistance at 1.3932 which has repelled four consecutive rallies since January, RBC said.

$CXY$CAD$USD

Sectors80d ago

Sector Update: Health Care Stocks Fall Late Afternoon

Health care stocks declined late Friday afternoon, with the NYSE Health Care Index falling 1.1% and the State Street Health Care Select Sector SPDR ETF (XLV) dropping 1.4%.The iShares Biotechnology ETF (IBB) shed 1.7%.In corporate news, AbbVie (ABBV) is expected to report Q1 earnings within its guidance range, but that may not be enough to improve sentiment toward the drugmaker, RBC Capital Markets said in a client note. The brokerage expects AbbVie to report per-share earnings of $2.59 for the first quarter, while the current consensus on FactSet is for non-GAAP EPS of $2.83. AbbVie shares were down 2.1%.Replimune (REPL) shares tumbled 19%. The company's biologics license application for vusolimogene oderparepvec to treat unresectable advanced cutaneous melanoma was rejected by the US Food and Drug Administration, the regulator said in a complete response letter.Abbott Laboratories (ABT) has been ordered by a jury in Chicago to pay $53 million in compensatory damages to a group of families related to four cases over its infant formula, the Chicago Tribune reported. The families accused the company of allegedly failing to inform them that its infant formula could develop a dangerous intestinal disease in premature infants, the report said. Abbott shares fell 2.7%.Organon (OGN) is closing in on a deal to be acquired by Sun Pharmaceutical Industries for $12 billion, The Economic Times reported. Organon shares surged 27%.

$ABBV$ABT$OGN$REPL

Mining & Metals80d ago

Lithium South Development Closes Sale of NRG Metals Argentina to POSCO

Lithium South Development (LIS.V) on Friday said it completed the sale of its NRG Metals Argentina subsidiary to POSCO Argentina and POSCO Holdings.The company said NRG holds the Hombre Muerto North Lithium property located in Salta Province, Argentina. The transaction was formally closed at a ceremony in Buenos Aires on April 7."Further details regarding the date of the payout of the cash consideration pursuant to the plan of arrangement will be provided in the immediate future," the company said.In a Dec. 8 statement, Lithium South Development said the terms of the sale are a cash price of US$65 million before taxes and other closing costs.The company also said it is seeking approval to delist from the TSX Venture Exchange and OTCQB and to cease being a reporting issuer.The company's shares were last seen unchanged at $0.495 on the Venture Exchange.

$LIS.V

Sectors80d ago

Sector Update: Consumer Stocks Softer Late Afternoon

Consumer stocks were lower late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.1%.In sector news, US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, University of Michigan's preliminary survey showed Friday. The main sentiment index plunged about 11% to 47.6 in April from March. That's the lowest print on record, BMO Capital Markets said in a note. Wall Street expected a 51.5 print, according to Bloomberg's poll.In corporate news, Nike (NKE) Chief Innovation Officer Tony Bignell is leaving the company after less than a year on the job, The Wall Street Journal reported. Bignell will be succeeded by Andy Caine, Nike vice president and creative director for sportswear, effective Sunday, the report said. Nike shares fell 3.4%.Nexstar Media's (NXST) $6.2 billion merger with Tegna is facing fresh hurdles after a federal judge extended the restraining order on the deal by one week to April 17 to review whether a longer preliminary injunction is needed, the Associated Press reported Friday. Nexstar shares were up 2.8%.Simply Good Foods (SMPL) shares fell 11% after Stephens downgraded the company's rating to equal-weight from overweight and cut its price target to $14 from $24.CarMax (KMX) shares rose 2.3% after it said late Thursday it plans to add William Cobb and James Kessler to its board following "constructive engagement" with activist investor Starboard Value.

$KMX$NKE$NXST$SMPL

International80d ago

RBC Says USD/CAD Direction Hinges On Iran Headlines As Yields Hold Steady

RBC Capital Markets said an on-consensus March employment report in an otherwise quiet week on the domestic calendar has helped Government of Canada yields finish the week close to where they ended last week, despite the continued uncertainty in the Middle East.With little on the data calendar next week and this morning's US/CA data unlikely to move the needle for both the Fed and Bank of Canada, USD/CAD's near-term direction is likely to be a function of whether markets are pricing an escalation (USD-higher) or a de-escalation (USD-lower), RBC said in its CAD Weekly Soundbites on Friday.Rates ViewOn the BoC, RBC said the central bank has been clear that the starting point matters for responding to the recent oil price spikes and knock-on impacts due to the Iran conflict. In particular, core inflation trending to target and excess slack in the Canadian economy afford the BoC some time to assess any potential second-order impacts.The recent rise in wage growth looks more due to compositional changes and should be looked through by the BoC, RBC said, adding it continues to see no change from the BoC in 2026 and hikes starting in 2027.On spreads, RBC said despite continued volatility, CA/US spreads continue to move sideways over the medium-term, with the 10-year marginally more negative on the week at -86bp.From a technical perspective, George Davis at RBC said the uptrend in CA 10-year yields came to an end on March 31 via a bullish trend reversal below 3.50%. This favours a move toward 3.36% initially, with additional resistance coming in at 3.25%. Initial support is located at 3.53%, with a return above 3.62% required to trigger a new bearish phase.Key Things To WatchIn Canada, RBC said Monday sees three federal byelections, including two in traditional Liberal strongholds in Toronto. Ahead of these, the latest floor-crosser from the Conservatives to the governing Liberals give the latter a 171-169 parliamentary advantage, meaning two wins will give them a clear, though slight, majority.RBC said there is a plethora of second-tier data next week as well, including February manufacturing sales on Wednesday, February wholesale trade on Wednesday, March existing home sales on Thursday and March housing starts on Friday.Globally, RBC said focus is on headlines related to the Iran conflict. Data wise, there will be March PPI in the US on Tuesday, March employment in Australia on Wednesday, Q1 GDP and March economic activity indicators in China on Wednesday, and February monthly GDP in the UK on Thursday.

$CXY$CAD$USD

Wire80d ago

Whirlpool to Invest $60 Million in New Ohio Production Facility

Whirlpool (WHR) plans to invest $60 million in a new production facility in Perrysburg, Ohio, with a two-year development expected to create 100 to 150 jobs.The investment will be used to revamp a building previously used for solar-panel manufacturing, the company said Friday in a statement.The site, for production of appliance components and subassemblies for washers and dryers, will serve as a hub for US operations and support nearby Ohio plants, the company said.The investment is subject to final approval of incentives, including assistance from JobsOhio and a state tax credit, the company said.Price: $56.29, Change: $-0.59, Percent Change: -1.04%

$WHR

Sectors80d ago

Sector Update: Energy

Energy stocks declined late Friday afternoon, with the NYSE Energy Sector Index easing 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.8%.The Philadelphia Oil Service Sector Index was shedding 0.5%, and the Dow Jones US Utilities Index was down 0.4%.Front-month West Texas Intermediate crude oil fell 2.3% to $95.58 a barrel, and the global benchmark Brent crude contract shed 1.7% to $94.39 a barrel. Henry Hub natural gas futures fell 1.1% to $2.64 per 1 million BTU.In corporate news, ConocoPhillips (COP) has sent a team to Venezuela to evaluate the prospects of oil drilling in the country, the company said in an emailed statement to. ConocoPhillips shares were down 1.1%.

$COP

Sectors80d ago

Sector Update: Financial

Financial stocks were lower late Friday afternoon, with the NYSE Financial Index decreasing 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1%.The Philadelphia Housing Index was down 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.2%.Bitcoin (BTC-USD) was increasing 1.8% to $73,058, and the yield for 10-year US Treasuries rose 2.4 basis points to nearly 4.32%.In corporate news, KKR (KKR) and EQT AB are among private equity firms showing takeover interest in PolyPeptide Group, Bloomberg reported. KKR shares were down 2%.

$KKR

Commodities80d ago

EDF Sees No Hit to Provisions as France Sets New Cigeo Waste Costs

France's Electricite de France said on Friday that the updated industrial reference cost for Cigeo, the country's multi-billion-euro deep geological repository for radioactive waste, will have a limited impact on its balance sheet.The state-backed utility said its current provisions, as of the end of 2025, remain aligned with the government's latest estimates.The decree, dated March 30, formalizes the latest cost trajectory for one of Europe's most ambitious infrastructure projects.The project, developed by the National Agency for Radioactive Waste Management, is designed to store high-level and long-lived intermediate-level radioactive waste hundreds of meters underground.Nuclear operators, including EDF, the Alternative Energies and Atomic Energy Commission, and Orano, are responsible for financing the site under French law. The companies are required to set aside massive financial provisions to cover the project's lifecycle, which is expected to span more than a century.The project's cost estimates are subject to periodic revisions by the energy ministry, tied to technical milestones such as commissioning and the conclusion of the "industrial pilot phase."

Sectors80d ago

Sector Update: Health Care

$ABBV

Mining & Metals80d ago

Versamet Royalties Completes Eskay Creek Buy

Versamet Royalties (VMET.TO) said Friday that it has completed the acquisition of a 3.52% gold stream in respect of gold production from the Eskay Creek project from Orion Resource Partners and Blackstone affiliates.A statement noted the company paid US$340 million in cash and issued about 2.05 million shares to the vendors. The cash portion was financed through an expanded credit facility totaling US$400 million, including a US$250 million revolving credit line maturing in March 2029 and a US$150 million term loan maturing in March 2028, according to the statement."Eskay is expected to produce an average of over 300,000 ounces of gold per year in its first 5 years and an average of approximately 230,000 ounces of gold per year over its initial 12 year life," the company said, adding that it will pay 10% of the spot gold price for each ounce it receives under the stream.Price: $16.71, Change: $-0.45, Percent Change: -2.62%

$SKE.TO$VMET.TO

Sectors80d ago

Sector Update: Tech

$AMZN

Sectors80d ago

Sector Update: Consumer

Consumer stocks were lower late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.1%.In corporate news, Nexstar Media's (NXST) $6.2 billion merger with Tegna is facing fresh hurdles after a federal judge extended the restraining order on the deal by one week to April 17 to review whether a longer preliminary injunction is needed, the Associated Press reported Friday. Nexstar shares were up 3.4%.

$NXST

Japan80d ago

US Equity Indexes Mixed as Investors Await Iran Peace Talks, Red Hot Inflation Lifts Treasury Yields

US equity indexes were mixed in the final leg of trading on Friday, ahead of the high-stakes Iran peace talks in Pakistan and as a red-hot inflation report lifted government bond yields.The Nasdaq Composite rose 0.3% to 22,900.3, while the S&P 500 fell 0.1% to 6,816.7 and the Dow Jones Industrial Average slid 0.5% to 47,931.5.If a peace deal is not reached this weekend at Pakistan-brokered negotiations in Islamabad, the US is prepared to renew and intensify strikes on Iran, US President Donald Trump said, according to a CNN news report. The war in the Middle East drove up the US inflation rate threefold in March amid soaring gasoline prices, data from the Bureau of Labor Statistics showed.Iran's parliament speaker, Mohammad Bagher Ghalibaf, reportedly said talks cannot start until the US meets two conditions: a ceasefire in Lebanon and the release of blocked Iranian assets. Ambassadors from Israel, Lebanon, and the US will hold talks in Washington, DC, on Friday to set the table for future negotiations between Israel and Lebanon, an Israeli official and a source familiar with the talks told CNN.US Vice President JD Vance, setting off for US-Iran talks, said Washington is "willing to extend the open hand" this weekend but warned Tehran not to "try to play us," The Wall Street Journal reported.West Texas Intermediate crude oil futures fell 1.6% to $96.27, and Brent crude futures slid 1.4% to $94.68, moving between gains and losses on Friday as Israel's continued attacks on Lebanon and a severely restricted Strait of Hormuz risked the Iran ceasefire deal ahead of the talks.In US economic news, the consumer price index accelerated to its highest monthly reading in nearly four years, rising 0.9% in March, in line with expectations. Energy prices jumped about 11% sequentially in March, led by a 21% surge in gasoline, accounting for almost three-quarters of the headline increase, the Bureau of Labor Statistics data showed.US Treasury yields rose, with the 10-year up 2.2 basis points to 4.32% and the two-year climbed 1.6 basis points to 3.80%.

Dow JonesNasdaq CompositeS&P 500

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International80d ago

RBC Says USD/CAD Direction Hinges On Iran Headlines As Yields Hold Steady

$CXY$CAD$USD