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Update: Gold Trades Lower, Dollar and Yields Rise as US Retail Sales Growth Eased in June

(Updates prices in the second and final paragraphs.)Gold fell midafternoon on Thursday as the dollar and yields rose after a report showed US retail sales slowed in June.Gold for August delivery was last seen down $65.30, or 1.6%, to $3,986.50 per ounce.Retail sales rose by 0.2% monthly in June, down from a rise of 1% in May and matching the consensus estimate, according to Marketwatch. The data is the latest this week to show a slowing US economy, after the country reported consumer and wholesale inflation eased last month amid falling energy prices.That's curbing concerns the Federal Reserve will need to raise interest rates, even as oil rises on renewed fighting between the U.S. and Iran."Gold remains trapped in a broad USD 3,950-4,200 range as investors balance the inflationary impact of higher energy prices and the prospect of tighter Federal Reserve policy against the longer-term economic risks from a prolonged energy shock," Saxo Bank wrote.The greenback was higher, with the ICE dollar index last seen up 0.2914 points to 100.78. Treasury yields also climbed, with the US two-year note last seen at 4.17%, up 2.7 basis points, while the yield on the 10-year note was up 1.5 points to 4.569%.

$GCQ6$GLD

Wire26d ago

CareDx Shares Rise After Surveillance Testing Coverage Affirmed

CareDx (CDNA) shares were up over 30% in Thursday trading after the company said a final policy affirmed coverage across its transplant surveillance offerings in kidney, heart, and lung.The firm reported earlier the finalization of the Medicare Local Coverage Determination process related to molecular testing for solid organ allograft rejection.The final Local Coverage Determination is expected to take effect on Aug. 30, CareDx added.Price: $39.01, Change: $+9.26, Percent Change: +31.11%

$CDNA

Oil & Energy26d ago

US Oil Update: Futures Hold Steady as US-Iran Conflict Threatens Middle East Supply Routes

Crude oil futures were little changed in midday trading on Thursday as fresh US strikes on Iranian military installations deepened concerns over potential supply disruptions in the Middle East.Front-month West Texas Intermediate crude futures eased 0.7% to $79.05 per barrel, while Brent futures slipped 0.6% to $84.40/bbl.Soojin Kim, research analyst at MUFG, said crude prices steadied after gaining about 12% over the previous three sessions as renewed US strikes on Iran and repeated attacks on shipping revived concerns over Gulf supply.US commercial crude oil inventories decreased by 1.7 million barrels to 409.7 mmbbls in the week ended July 10, the Energy Information Administration said in its weekly report on Wednesday, less than Investing.com's forecast of a 1.8-mmbbl draw.Crude inventories are now about 6% below the five-year average for this time of year, the agency said.On Wednesday, the US hit an unladen oil tanker attempting to sail toward Iran's main export terminal, as shipping traffic via the Strait of Hormuz has slumped. The latest data from Kpler show that confirmed crude and condensate transit through the strategic waterway fell 62% to 4.1 million barrels per day.US Central Command also said on Wednesday it carried out a fresh wave of attacks on Iran overnight that concluded at 9 p.m. ET, hitting Iranian coastal defenses and missile sites after reimposing a naval blockade of the country's ports."US forces struck Iranian command centers, air defense sites, missile and drone capabilities, and coastal surveillance facilities to further degrade Iran's ability to threaten innocent mariners crewing commercial vessels transiting the Strait of Hormuz," Centcom said in a statement posted on X.Meanwhile, Iran warned that it would "crush" key targets in the Middle East if President Trump's threats to target the country's infrastructure in the coming days are carried out.Ebrahim Zolfaqari, spokesperson for Iran's military command, said infrastructure in the Gulf region that has remained untouched so far would be "smashed under the iron blows" of Iran's armed forces if the US carries out attacks on Iranian infrastructure.Iran also asked Yemen's Houthi rebels to stand ready to close the Red Sea oil route if the US strikes Iranian power infrastructure, according to media reports, which would further threaten global energy supplies.RBC Capital Markets strategists said a potential new front in the Red Sea is compounding geopolitical tensions.Saudi Arabia has increased crude exports via its East-West Pipeline and the Yanbu terminal to about 4 million b/d to offset reduced flows through the Strait of Hormuz, making the Red Sea a critical alternative export route.The consultancy said any renewed Houthi attacks on shipping or Saudi energy infrastructure could threaten that capacity and significantly worsen supply risks.

Sectors26d ago

Abcourt Mines Gold Production Falls to 720 Ounces in Q4

Abcourt Mines (ABI.V) produced 720 ounces of gold in the fourth quarter at its Sleeping Giant Mine in Quebec, falling below the prior quarter's output, the company said on Thursday.This brings its annual production to 3,628 ounces at an average grade of 4.18 grams per tonne of gold.Abcourt processed 11,891 tonnes of ore during the quarter ended June 30, a 160% jump over the previous quarter. June also marked a historical peak for the fiscal year with 5,229 tonnes milled, it added.Abcourt shares were down C$0.005, to C$0.065, on the TSX Venture Exchange.

$ABI.V

Wire26d ago

Google Months Behind Schedule for New Gemini Launch, Bloomberg Reports

$GOOG$GOOGL

Wire26d ago

Market Chatter: Honda to End Sales of Its Last EV Model in the US

Honda Motor (HMC) informed its US dealers on Thursday that it's halting production of the Honda Prologue, the last electronic vehicle in its US lineup, Bloomberg reported, citing an interview with Lance Woelfer, the company's head of US sales operations.The EV model, which was co-developed with General Motors (GM), will be discontinued as of the 2026 model year, and Honda will pivot to hybrid and internal combustion models in the US, the report said.(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: $28.73, Change: $+0.84, Percent Change: +2.99%

$HMC

Wire26d ago

Uber's Delivery Hero Bid Expands Cross Platform Opportunity, Wedbush Says

Uber Technologies' (UBER) acquisition offer for Delivery Hero expands its cross-platform opportunity, Wedbush said in a note Thursday, describing the strategic implication of the deal as net positive.The brokerage said the deal expands Uber's cross-platform markets from 34 to 58, adding more than 50 million eligible cross-platform consumers."Cross-platform users generate ~3x the gross bookings and profits of single-product users," while acquiring those users is "~50% cheaper than paid acquisition channels," Wedbush said.Wedbush said the acquisition supports Uber's push beyond food delivery into the broader $10 trillion global grocery and retail market, with the combined company operating in more than 100 markets.Wedbush has an outperform rating on the stock with a $91 price target.Price: $73.41, Change: $+0.74, Percent Change: +1.02%

$UBER

Oil & Energy26d ago

Dana Gas Reportedly Suspends Khor Mor Gas Field Production Amid Regional Tensions

Dana Gas shut down Iraq's Khor Mor gas field, cutting 2,500 megawatts of regional power generation as security threats intensified, according to multiple media reports Thursday.Dana Gas suspended the field's main production facilities after identifying credible security threats linked to escalating regional tensions, a company spokesperson said, according to the reports.Iraq's Kurdistan Region electricity ministry reportedly said the shutdown reduced electricity generation by 2,500 megawatts. Khor Mor holds the region's largest gas reserves and supplies most of the region's power generation, according to reports.The developments followed drone activity across northern Iraq. At least five drones targeted Erbil on Wednesday, including the city's airport and the US consulate, while another drone landed at Iraq's Faw port, the reports said.Dana Gas said it continues to monitor the security situation, while Iraqi authorities have not reported damage at Faw port despite the latest drone incident, according to the reports.Dana Gas did not immediately reply to' request for comment.

Oil & Energy26d ago

EMEA Oil Update: Crude Holds Firm as US-Iran Conflict Fuels Supply Fears

EMEA crude futures held steady in after-hours trading on Thursday as renewed hostilities between the US and Iran continue to cloud the outlook for transit through the Middle East region's critical oil export routes.Brent crude futures shed 0.01% to $84.88 per barrel, while Murban crude futures eased by 0.75% to $79.14/bbl.Gelber & Associates said that markets have largely absorbed the geopolitical premium tied to US strikes on Iranian targets and the heightened naval presence around the Hormuz, with no confirmed disruption to physical oil flows preventing prices from pushing higher.On Thursday, Iran warned that it would "crush" key targets in the Middle East if President Trump's threats to target the country's infrastructure in the coming days are carried out.Iran's military command's spokesperson, Ebrahim Zolfaqari, reportedly said that if the recent "empty threats" by the US president to have US forces target Iran's infrastructure are carried out, then all infrastructure throughout the region will be "smashed" by Iran.Iran also requested Yemen's Houthi rebels to stand ready to close the Red Sea oil route if the US strikes Iranian power infrastructure, according to media reports, which would further threaten global energy supplies, according to Reuters.RBC Capital Markets strategists said a potential new front in the Red Sea is compounding geopolitical tensions.Saudi Arabia has increased crude exports through its East-West Pipeline and Yanbu terminal to around 4 million b/d to offset reduced Hormuz flows, making the Red Sea a critical alternative export route.The consultancy said any renewed Houthi attacks on shipping or Saudi energy infrastructure could threaten that capacity and significantly worsen supply risks.US Central Command said on Wednesday it carried out a fresh wave of attacks on Iran overnight that concluded at 9 p.m. ET, hitting Iranian coastal defenses and missile sites after reimposing a naval blockade of the country's ports."US forces struck Iranian command centers, air defense sites, missile and drone capabilities, and coastal surveillance facilities to further degrade Iran's ability to threaten innocent mariners crewing commercial vessels transiting the Strait of Hormuz," US Centcom said in a statement posted on X.Meanwhile, the renewed US-Iran conflict has disrupted energy flows through the Hormuz, with the latest data from Kpler showing that confirmed crude and condensate transit through the strategic waterway fell 62% to 4.1 million barrels per day, while regional loadings dropped 47%.Renewed attacks, enforcement of the US blockade, and a shrinking pool of conventional tanker operators are weakening confidence, Kpler said.

Wire26d ago

Top Midday Decliners

QumulusAI's common shares have begun trading on the Nasdaq Global Market under the ticker symbol "QMLS," according to a statement released Thursday.Shares sank 59%, with intraday trading volume at more than 74,000.AST SpaceMobile (ASTS) priced a private offering of $1 billion aggregate principal amount of 1.625% convertible senior notes due 2034, the company said late Wednesday.Shares slumped 19% as intraday trading volume catapulted to over 36.5 million from a daily average of about 22.3 million.ASP Isotopes (ASPI) said the company and its wholly owned subsidiary, Quantum Leap Energy, have entered into private exchange agreements with certain holders of the unit's outstanding convertible promissory notes, according to a statement released late Wednesday.Under the terms, certain holders of QLE Notes have agreed to exchange about $109.2 million of QLE Notes for roughly 23.2 million shares of ASP common stock, representing almost 18% of ASP's common stock.Shares of ASP declined 11%, with intraday trading volume rising to over 4.95 million from a daily average of roughly 4.90 million.Price: $4.03, Change: $-0.56, Percent Change: -12.12%

$ASPI$ASTS$QMLS

US Markets26d ago

Chip Stocks Weigh on Equities Intraday; Netflix Earnings on Deck

US benchmark equity indexes were lower intraday amid a sell-off in certain chip-related stocks as investors parsed latest corporate earnings and awaited Netflix's (NFLX) results.The technology-heavy Nasdaq Composite was down 1.1% at 25,979.8 after midday Thursday, while the S&P 500 fell 0.5% to 7,537.8. The Dow Jones Industrial Average dropped 0.2% to 52,548. Among sectors, tech saw the steepest decline, while consumer staples paced the gainers.Sandisk (SNDK) was down 12%, the biggest drop on the S&P 500. Nvidia (NVDA) fell 2.5%, among the worst performers on the Dow.Taiwan Semiconductor Manufacturing's (TSM) US-listed shares were down 3.2% after the semiconductor manufacturer reported its second-quarter results. The company earmarked an additional $100 billion to increase its chipmaking capacity in the US, Bloomberg News reported, citing a US official.In other corporate news, Abbott Laboratories (ABT) shares jumped 11%, the biggest gainer on the S&P 500. The healthcare company lifted its full-year earnings outlook after reporting second-quarter results above market estimates.UnitedHealth (UNH) raised its full-year earnings guidance, as the health insurance giant recorded an unexpected year-over-year increase in its second-quarter revenue. The company's shares rose 3.3%, among the best performers on the Dow.Streaming giant Netflix is scheduled to report results after the closing bell Thursday.West Texas Intermediate crude oil was down 0.8% at $78.96 a barrel intraday, while Brent dropped 0.7% to $84.37."Oil prices slipped as traders assessed tensions between the (US) and Iran and the risks to oil supplies moving through the Strait of Hormuz," D.A. Davidson said in a note.Iran vowed to destroy key Middle East infrastructure if US President Donald Trump carries out his threat to hit Iranian infrastructure in the absence of a deal between the two countries, an Iranian military spokesperson reportedly said. Trump issued his warning in a recent interview with Fox News, CNBC reported.US Treasury yields were higher intraday, with the two-year rate up 3.8 basis points at 4.17% and the 10-year rate rising 2.8 basis points to 4.57%.In economic news, US retail sales edged higher in June despite lower gasoline prices that drove a sharp decline in gas station receipts, official data showed.Pending home sales decreased more than projected in June amid high mortgage rates and prices, data from the National Association of Realtors showed.Homebuilder confidence deteriorated in July amid growing material prices, high land costs and elevated mortgage rates, the National Association of Home Builders and Wells Fargo said.Gold was down 1.5% at $3,992 per troy ounce, while silver lost 2.1% to $56.22 per ounce.

Dow JonesNasdaq CompositeS&P 500$ABT$NFLX$NVDA$SNDK$TSM$UNH

Wire26d ago

Honda Ending Sales of Its Last EV Model in US, Bloomberg Reports

$HMC

Wire26d ago

Street Color: Honda to End US Sales of Prologue EV, Bloomberg Reports

$HMC

Research26d ago

Barclays Upgrades PayPal to Equalweight From Underweight

PayPal (PYPL) has an average rating of hold and mean price target of $48.11, according to analysts polled by FactSet.(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)Price: $57.35, Change: $+1.83, Percent Change: +3.30%

$PYPL

Wire26d ago

HSBC Adjusts Price Target on United Airlines to $163 From $156

United Airlines (UAL) has an average rating of buy and mean price target of $156.65, according to analysts polled by FactSet.(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)Price: $118.86, Change: $-2.11, Percent Change: -1.74%

$UAL

Mining & Metals26d ago

CHARBONE Expands Helium Fleet to Five Units; Shares Drop 4.8%

CHARBONE (CH.V) shares fell 4.8% after it expanded its helium delivery fleet to five units from one unit, to enable a faster service to North American customers, it said in a statement on Thursday.The company also said that 22 new helium customers were recently added across Quebec."We were prepared to scale helium production well before recent supply disruptions materialized," said Charbone Senior Vice-President Patrick Cuddihy. "With trailers on order and agreements in place, we've grown our dedicated helium fleet from one unit to five and remain positioned to add five more within months to meet this surge in demand."

$CH.V

Wire26d ago

Market Chatter: Apollo Plans Up to $20 Billion to Finance Projects in Mexico

Apollo Global Management (APO) plans to allocate as much as $20 billion to financing projects in Mexico as it seeks new opportunities for its private credit business, Bloomberg reported Thursday, citing people familiar with the matter.The asset manager is in talks to finance infrastructure projects as well as other debt deals in Mexico, the report said, citing the people.Apollo 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: $121.87, Change: $+0.03, Percent Change: +0.03%

$APO

Sectors26d ago

Sector Update: Energy Stocks Rise Thursday Afternoon

Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index increasing 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index was down 0.3%, and the Dow Jones US Utilities Index was fractionally lower.In geopolitical news, Iran has asked Yemen's Houthi movement to stand ready to close the Red Sea oil route if the US strikes Iranian power infrastructure, Reuters reported.Front-month West Texas Intermediate crude oil shed 0.5% to $79.24 a barrel, and the global benchmark Brent crude contract decreased 0.3% to $84.67 a barrel. Henry Hub natural gas futures fell 2.7% to $2.85 per 1 million BTU.In sector news, US natural gas stocks rose by 41 billion cubic feet in the week ended July 10, above the 39 billion increase expected in a survey compiled by Bloomberg and following an increase of 61 billion cubic feet in the previous week.Separately, Kalshi traders now see a 90% chance that gas prices will exceed $4 per gallon by the end of this month, up from 56% two days ago, CNBC reported. Traders see a 93% chance of prices topping $4 and a 63% chance of exceeding $4.10, with the contract verified by AAA, the report said.In corporate news, Chevron (CVX) is expected to sign accords with Iraq on Friday that will further the company's negotiations about investing in large oil fields, Bloomberg reported Thursday, citing a senior company executive. Chevron shares were up 1.2%.Constellation Energy's (CEG) venture arm made an equity investment in Blue Energy, a developer of prefabricated nuclear power plants, for an undisclosed amount. Constellation shares were down 2.7%.TotalEnergies (TTE) expects Q2 hydrocarbon production to be nearly 2.4 million barrels of oil equivalent per day, supported by about 4% organic growth, the company said Thursday. Its shares were shedding 1.7%.

$CEG$CVX$TTE

Commodities26d ago

US Natural Gas Update: Futures Fall After 41 Bcf Storage Build

US natural gas futures prices fell sharply in midday trading Thursday after government data showed a 41 billion cubic foot increase in inventories, reinforcing concerns that supply continues to outpace demand.The front-month Henry Hub contract and the continuous contract each declined 2.70% to $2.845 per million British thermal units.The US Energy Information Administration said natural gas inventories totaled 3,024 Bcf for the week ended July 10, up 41 Bcf from the previous week. Stocks were 21 Bcf below year-ago levels but 181 Bcf above the five-year average of 2,843 Bcf.Analysts' expectations ranged from a 36-45 Bcf build, while the five-year average was a 45 Bcf increase for the week.Gelber & Associates said the EIA report came in above its 36 Bcf forecast, prompting a quick market reaction."Henry Hub was trading near $2.94/MMBtu heading into the morning release and slipped to $2.84 in the minutes after, as the bigger injection reinforced the view that supply continues to outrun demand even with summer cooling load still running strong," Gelber analysts said.The firm added that robust production and a recovering LNG sector have kept market focus on supply length rather than emerging tightness.NatGasWeather.com said most of the US will remain very warm to hot in the coming days, with highs in the upper 80 degrees Fahrenheit to triple digits and widespread 90s across major cities in the Midwest and East Coast.The Northeast is expected to cool Saturday through Wednesday, with national demand forecast to remain high over the next three days before easing to moderate-high levels.Trading Economics said Lower 48 gas production rose to 110.2 Bcf per day in July from 110 Bcf/d in June, while near-record solar and wind generation has reduced gas-fired power demand.On the export side, Gelber said the ongoing Freeport LNG turnaround remains a key market factor, with an estimated 25-30 Bcf impact before a late-August return to full service. The firm also said LNG feedgas demand is somewhat recovering as Sabine Pass returns from maintenance.NRG Energy said LNG feedgas demand increased 0.7 Bcf/d to 16.5 Bcf/d on Thursday."Between a storage figure that leaned bearish and a supply and demand picture still dominated by ample production and gradually recovering exports, the path of least resistance for Henry Hub has tilted lower," Gelber said.

Wire26d ago

Update: Market Chatter: Chevron Slated to Sign Accords With Iraq for Oil Field Investments

(Updates with Chevron comment in the fourth and fifth paragraphs.)Chevron (CVX) is expected to sign accords with Iraq on Friday that will further the company's negotiations about investing in large oil fields, Bloomberg said Thursday, citing a senior company executive.The talks are focused on the West Qurna-2 field, which is Iraq's second-largest oil complex, and Nasiriyah, the report said, adding that the accords are likely to be non-binding but will show Chevron's commitment to eventually signing commercial agreements for the fields.Chevron and other US and international companies are also exploring the potential of building a pipeline for exporting Iraq's oil by avoiding the Strait of Hormuz, the report said.Chevron is discussing investment in West Qurna 2 and in the Nasiriyah Field with their Iraqi counterparts, a company spokesperson said in an email to.The company declined to comment on reports about building a pipeline or alternative routes for Iraqi oil.(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: $183.75, Change: $+2.15, Percent Change: +1.18%

$CVX

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Oil & Energy26d ago