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Sector Update: Tech

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%.

$AMZN

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

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%.

$^DJI$^IXIC$^SPX

Oil & Energy14d ago

Iran Sets 2 Conditions Ahead of Negotiations

Iranian parliament speaker Mohammad Baqer Ghalibaf said Friday that two preconditions agreed with Washington must be implemented before negotiations can begin, ahead of weekend peace talks in Islamabad.In a social media post on X, Ghalibaf said, "Two of the measures mutually agreed upon between the parties have yet to be implemented: a ceasefire in Lebanon and the release of Iran's blocked assets prior to the commencement of negotiations. These two matters must be fulfilled before negotiations begin."The post came as the US and Iran prepare for Saturday talks aimed at addressing the Middle East conflict. Ghalibaf referred to ongoing Israeli attacks in Lebanon and the tens of billions of dollars Iran has frozen in foreign banks due to US sanctions.Hours after a ceasefire framework was agreed late Tuesday by the US and Iran, Israel launched what officials called its largest strike in the parallel war in Lebanon, killing over 300 people in densely populated areas, according to Lebanese authorities.Israeli airstrikes continued Friday across southern Lebanon, with more than a dozen additional fatalities reported in multiple towns. A strike on a government building in Nabatieh killed 13 members of Lebanon's state security forces, local media reported. Hezbollah said it responded with rocket fire into northern Israel.On Friday, US President Donald Trump posted on Truth Social that Iran's leverage was limited to short-term pressure tactics, arguing its position was weak in negotiations."The Iranians don't seem to realize they have no cards, other than a short-term extortion of the World by using international waterways. The only reason they are alive today is to negotiate!" Trump wrote in a Truth Social post.During planned talks in Islamabad, Tehran is expected to push for major concessions, including sanctions relief and expanded recognition of its authority over the Strait of Hormuz, a critical global shipping lane it seeks to regulate and monetize.Iranian vessels continued moving through the strait Friday without reported disruption, while foreign commercial shipping remained largely constrained, according to maritime sources. Before the conflict, roughly 140 vessels a day transited the waterway, including oil tankers carrying up to 20 million barrels.The US is expected to focus its demands on Iran's nuclear program, which Western officials say includes stockpiles of more than 400 kilograms of highly enriched uranium, along with continued missile and drone capabilities.Crude benchmarks moved lower in midday trade as market participants closely monitor upcoming US-Iran negotiations, with Brent down 1.43% to $94.55 per barrel, WTI falling 1.74% to $96.17/bbl, and Murban slipping 1.56% to $98.07/bbl.

Oil & Energy14d ago

Trump Administration Reportedly Weighs Russian Oil Waiver Extension to Curb Supply Shock

The US is set to extend a Russian oil waiver freeing about 100 million barrels, aiming to ease supply shocks, according to multiple media reports.The Trump administration is expected to renew the exemption allowing purchases of sanctioned Russian oil and products, with a decision likely as early as Friday, according to reports.The current 30-day waiver, introduced in mid-March, permits transactions involving Russian oil already at sea and is due to expire on Apr. 11.US Treasury Secretary Scott Bessent reportedly discussed the extension with President Donald Trump on Thursday, with both agreeing the move would help manage rising energy costs.Several Asian nations are reportedly urging the US to renew the waiver, citing energy shortages and rising costs linked to the Iran conflict.India and the Philippines are among countries seeking continued access to Russian crude shipments already in transit, as governments try to secure supply amid tightening markets, according to the report.An Indian delegation in Washington is reportedly urging US officials to extend the waiver on Iranian crude and to widen existing exemptions covering Russian liquefied natural gas.An Indian official reportedly said New Delhi expects the US to extend the waiver, while denying it is actively seeking exemptions, adding that the country continues to import significant volumes of Russian oil.The International Energy Agency said the crisis has triggered the largest supply disruption on record, intensifying concerns over fuel costs ahead of the US midterm elections in November.A potential waiver, however, risks undermining Western sanctions on Russia, potentially boosting revenue for its war in Ukraine and creating tensions with European allies opposed to easing restrictions.European Commission President Ursula von der Leyen said the current environment does not justify loosening sanctions, highlighting growing divisions among Western partners.On Mar. 20, Washington introduced a 30-day waiver involving Iranian oil shipments at sea.Lawmakers in Washington have also criticized the policy, with Republicans and Democrats warning the waiver could benefit both Russia and Iran at a time of heightened geopolitical tensions.Oil prices remain over 30% above pre-conflict levels, reflecting ongoing volatility and limited supply options following military actions involving the US and Israel.has reached out to the White House, the US Department of the Treasury, and India's Ministry of External Affairs for any comments.

Financial News · Live Terminal

Sector Update: Tech

Sector Update: Consumer

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

Sector Update: Tech

Sector Update: Consumer

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

Iran Sets 2 Conditions Ahead of Negotiations

Bristol-Myers Squibb Poised for In-Line Q1 Amid One-Off Volatility, RBC Says

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