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US Equity Futures Edge Slightly Higher Pre-Bell as Tech Stocks Rebound, Oil Prices Decline

US equity futures were slightly higher pre-bell Wednesday as technology stocks rebounded after a broad sell-off in the sector, and oil prices continued to decline.Dow Jones Industrial Average futures were flat, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.4% higher.Micron Technology (MU) stock was up 3.9% in premarket activity after falling 13% on Tuesday. The company is set to report its fiscal Q3 earnings after the market closes. Analysts polled by FactSet expect earnings of $20.83 per share on revenue of $35.85 billion.President Donald Trump, in a post on Truth Social, called out oil companies for not lowering gasoline prices in line with the recent drop in crude prices, saying that he has instructed the US Department of Justice to look into the issue. "Gasoline prices better start going down a lot faster than what I'm seeing!" Trump said.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.2% at $75.13 per barrel and US West Texas Intermediate crude 2.4% lower at $71.47 per barrel.May new home sales, due at 10 am ET, are seen at a 640,000 annual rate, up from 622,000 previously, according to estimates compiled by Bloomberg.

Dow JonesNasdaq CompositeS&P 500$MU

Commodities39d ago

US Diesel Prices Drop Below $5 for First Time Since March, Easing Inflationary Pressures

Diesel prices in the US fell below $5 per gallon for the first time since mid-March, as US-Iran peace talks continued to make progress, helping ease supply constraints.The national average retail price of diesel dropped to $4.98 a gallon on Wednesday, according to data compiled by the American Automobile Association.Diesel prices have retreated from their April peak of $5.69 per gallon but remain well above the $3.79 per gallon recorded on the eve of the U.S.-Iran war in late February, according to Bloomberg, suggesting a long way to go before fuel prices can normalize.This comes following a pullback in global crude oil prices in recent weeks, in response to de-escalating tensions in the Middle East, and rising traffic through the Strait of Hormuz, after a nearly four-month-long blockade.In a Truth Social post on Tuesday, US President Donald Trump accused the big oil companies of price gouging at the pump, for not reducing prices in line with the fall in global oil prices, while threatening action against the same.

US Markets39d ago

Stocks Mostly Up Pre-Bell Ahead of Micron's Latest Financial Results

US stock futures were mostly trending higher on Wednesday as markets looked to recover from the previous session's tech-driven selloff, while investors await Micron Technology's (MU) latest quarterly results.The S&P 500 rose 0.2% and the Nasdaq increased 0.5% before the opening bell, while the Dow Jones Industrial Average slipped 0.1%. The indexes closed Tuesday trading lower, with the Nasdaq logging its sharpest decline since June 5.Shares of Micron rose 3.9% pre-bell after closing the previous trading session down 13%. The semiconductor company is scheduled to post its fiscal third-quarter results after the markets close, with analysts on FactSet currently estimating non-GAAP earnings of $20.83 per share and sales of $35.85 billion.Tech bellwether Nvidia (NVDA) was up 0.7% after a 4.1% decline in the prior session. Intel (INTC) increased 1.9%, while Qualcomm (QCOM) advanced 2.1%.Tech stocks may face spillover impact from the recent sharp sell-off in South Korea, though the decline appears to be a "pullback/breather" in a market that almost doubled this year, Wedbush Securities said in a note on Tuesday.FedEx's (FDX) stock fell 7.2% as the parcel delivery giant issued a downbeat earnings outlook for the full 2026 calendar year. Wendy's (WEN) jumped 15% as the fast-food chain hired Potbelly Sandwich Works finance chief Steve Cirulis for the same role, effective Tuesday.West Texas Intermediate crude oil decreased 1.5% to $72.09 a barrel in premarket action, while Brent slipped 1.6% to $75.86.In a social media post early Wednesday, President Donald Trump said he has instructed the Department of Justice to "immediately start looking" into oil companies not lowering their prices."The big oil companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for oil," according to Trump. "Those prices are dropping like a rock! In other words, customers are being 'gouged.'"US Secretary of State Marco Rubio arrived in the Gulf region, aiming to sell the Iran deal to three countries -- the United Arab Emirates, Bahrain and Kuwait -- that are likely to be among the biggest skeptics, CNN reported Tuesday.Treasury yields were mixed before the open, with the two-year rate nudging higher by 0.1 basis point to 4.2% while the 10-year rate retreated 0.8 basis points to 4.49%.On Wednesday's economic calendar, the weekly mortgage applications bulletin posts at 7 am ET, followed by the new home sales report for May at 10 am. The weekly EIA domestic petroleum inventories report is due at 10:30 am.Paychex (PAYX) is expected to post its financial results before the bell, while Trip.com (TCOM), Jefferies Financial (JEF) and H. B. Fuller (FUL) report after the markets close.Gold declined 1.8% to $4,076 per troy ounce, while bitcoin traded up 0.3% at $62,455.

Dow JonesNasdaq CompositeS&P 500$FDX$FUL$INTC$JEF$MU$NVDA$PAYX$QCOM$TCOM$WEN

Asia39d ago

J.K. Cement Named Preferred Bidder for Gilund Limestone Block in Rajasthan, India

J.K. Cement (NSE:JKCEMENT, BOM:532644) has been declared the preferred bidder for the Gilund Limestone Block in Rajasthan, India, following an e-auction conducted by the state government.The mining lease block spans about 370.96 hectares and is located in Chittorgarh district, according to a stock exchange filing on Wednesday.

BOM:532644NSE:JKCEMENT

Asia39d ago

Zhejiang Chint Electrics to Submit Bid for 3.16% Additional Stake in Subsidiary

Zhejiang Chint Electrics (SHA:601877) will submit a bid for a 3.16% stake in Chint Aneng Digital Energy (Zhejiang), according to a Wednesday filing with the Shanghai bourse.The reserve price for the auction was set at 1.12 billion yuan.Once the bid is succesful, Zhejiang Chint Electrics's take in Chint Aneng will rise to 71.24% from 68.08%.

SHA:601877

Mining & Metals39d ago

Baylin Technologies to Repay Debentures, Exchange Preferred Shares Through Equity Issuances

Baylin Technologies (BYL.TO) will repay the principal of its 8.5% convertible unsecured debentures due June 30, 2026, through a common shares issue, the company said Wednesday.The company will issue 18.2 million shares to equal the C$5.1 million debentures principal, divided by 95% of the current market price of C$0.296 per share, a statement said.Baylin will also exchange C$3.95 million of preferred shares and unpaid dividends for 16.2 million shares to be issued on a private placement basis. The preferred shares are ultimately held by board chair Jeffrey Royer. After the exchange Royer's control will increase to 53.4% of Baylin's issued and outstanding shares.

$BYL.TO

Asia39d ago

In Construction Forecasts Turnaround to Full-Year Profit

In Construction (HKG:1500) expects a profit of between HK$62.5 million and HK$67.5 million for the year ended March 31, compared with a loss of HK$18.9 million a year prior, according to a Wednesday Hong Kong bourse filing.The construction company attributed the forecast to a higher revenue and gross profit from major projects.The company expects to publish its annual results on June 26.

HKG:1500

Asia39d ago

Nichirei Approves 108 Million Yen Share Issue for Stock Compensation

Nichirei (TYO:2871) approved the issuance of 51,084 new shares worth about 107.5 million yen under its restricted stock compensation program.The shares will be issued at 2,104 yen each to six directors and five executive officers, according to a company filing on Wednesday.

TYO:2871

International39d ago

Property Stocks Undergird European Bourses Midday

European bourses tracked evenly midday Wednesday after property stocks gained on a real estate sector buyout bid, and as petroleum prices eased.Oil and bank shares lagged on continental trading floors, while tech stocks held steady.European real estate company valuations rose after US-based REIT Prologis (PLD) offered a $16.6 billion buyout bid for UK industrial warehouse giant Segro.Investors also eyed Wall Street futures in the green, and mixed closes overnight on Asian exchanges.In economic news, Germany's business climate index continued to improve in June, striking 85.6, up from 84.9 in May, the Institute for Economic Research (Ifo) reported.The pan-continental Stoxx Europe 600 Index was steady mid-session.The Stoxx Europe 600 Technology Index was flat, and the Stoxx 600 Banks Index lost 0.4%.The Stoxx Europe 600 Oil and Gas Index eased 1.3%, while the Stoxx 600 Europe Food and Beverage Index inclined 1.7%.The REITE, a European REIT index, rose 3.5%.On the national market indexes, Germany's DAX was down 1.1%, and the FTSE 100 was steady. The CAC 40 in Paris was up 0.2%, and Spain's IBEX 35 eased 0.3%.Yields on benchmark 10-year German bonds were lower, near 2.91%.Front-month North Sea Brent crude-oil futures were down 1.8% at $75.41 a barrel.The Euro Stoxx 50 volatility index was down 1.6% at 17.94, indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

^SXXP

Research39d ago

B. Riley Initiates Suncrete at Buy With $26 Price Target

Suncrete (RMIX) has an average rating of buy and mean price target of $22.40, 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)

$RMIX

Research39d ago

Stephens Upgrades Varonis Systems to Overweight From Equalweight, Adjusts Price Target to $45 From $33

Varonis Systems (VRNS) has an average rating of overweight and mean price target of $37.48, 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)

$VRNS

Research39d ago

Barclays Initiates SAB Biotherapeutics at Overweight With $13 Price Target

SAB Biotherapeutics (SABS) has an average rating of buy and mean price target of $11.33, 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)

$SABS

Research39d ago

Northcoast Research Initiates Coverage on WD-40 With Buy Rating, $265 Price Target

WD-40 (WDFC) has an average rating of overweight and mean price target of $254.67, 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)

$WDFC

Research39d ago

Cantor Fitzgerald Initiates Silence Therapeutics at Overweight

Silence Therapeutics (SLN) has an average rating of overweight and mean price target of $31.20, 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)

$SLN

Research39d ago

Leerink Partners Initiates Rapport Therapeutics at Outperform With $52 Price Target

Rapport Therapeutics (RAPP) has an average rating of buy and mean price target of $58.30, 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)

$RAPP

Research39d ago

Mizuho Securities Initiates Coverage on Sol-Gel With Outperform Rating, $285 Price Target

Sol-Gel Technologies (SLGL) has an average rating of Buy and mean price target of $234.50, 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)

$SLGL

Research39d ago

Leerink Partners Initiates Quince Therapeutics at Outperform With $4 Price Target

$QNCX

Mining & Metals39d ago

District Metals Begins Drilling at Osterkalen Mineral License Within Alum Shale Properties in Sweden

District Metals' (DMX.V) diamond drilling program at the Osterkalen Mineral License, part of the company's Alum Shale properties in central Sweden, has commenced, the company said Wednesday.This drill program by the miner is designed to test prospective Alum Shale mineralization associated with coincident geophysical and geochemical anomalies identified across the property, it said."The large conductive MobileMT anomaly at Osterkalen is interpreted to represent Alum Shale and has dimensions consistent with a district-scale target," said District Metals CEO Garrett Ainsworth. "This program is designed to determine whether the Osterkalen target hosts the characteristics of a Viken-style mineralized system while continuing to demonstrate the significant exploration upside across our Alum Shale Properties."Shares of the company closed down 4.1% to C$0.70 on Tuesday on the TSX Venture Exchange.

$DMX.V

Asia39d ago

Guangdong Dtech Technology Passes Listing Hearing in Hong Kong

Guangdong Dtech Technology (SHE:301377) filed a post-hearing information pack on Tuesday and sought listing approval from the Hong Kong Exchange, according to a Wednesday disclosure to the Shenzhen bourse.The printed circuit board manufacturer plans to use proceeds from its offering to boost its production capacity locally and overseas, invest in frontier technologies, fund acquisitions, digitize its systems, and supply working capital, according to a near-final prospectus released Tuesday.

SHE:301377

Asia39d ago

Bilibili Launches $300 Million Share Buyback

Bilibili's (HKG:9626) board approved the buyback of up to $300 million of its shares over 24 months, according to a Wednesday Hong Kong bourse filing.The digital content platform will repurchase the shares from time to time from the open market.

HKG:9626

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US Markets39d ago

Stocks Mostly Up Pre-Bell Ahead of Micron's Latest Financial Results

Dow JonesNasdaq CompositeS&P 500$FDX$FUL$INTC$JEF$MU$NVDA$PAYX$QCOM$TCOM$WEN