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Real-time financial news from around the world.
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NZX 50 Trades Lower in Morning Trade
The NZX 50 dropped 49 points, or 0.4%, to 13,155 in Wednesday morning trade, erasing gains from the previous session and retreating from its highest level since May 29, reached a day earlier, as it tracked a decline in US futures amid renewed escalation in the Middle East. The US military reportedly launched strikes against Iran in retaliation for the downing of an American helicopter, raising concerns about oil prices. Traders were also cautious ahead of the release of Chinese consumer and producer price data later today, amid rising oil prices. Meanwhile, investors remained wary ahead of the release of New Zealand's business PMI for May, due on Friday, after the index recorded its slowest growth in seven months in April. Financial, energy, industrial, and consumer staple stocks mainly drove the index lower, with notable losses from Fletcher Building (-2.2%), Scales Corporation (-1.3%), Mainfreight (-1.1%), F&C Investment Trust (-1.0%), Infratil (-0.7%), and Ebos Group (-0.5%).
Crypto Updates: Ether Drops by 2.68%
Top crypto losers are Ether (-2.68%), XRP (-2.60%) and Bitcoin (-2.05%).
Agricultural Commodities Updates: Butter Drops by 3.61%
Top commodity losers are Butter (-3.61%), Cotton (-2.61%) and Rubber (-2.30%). Gains are led by Lumber (1%).
Metals Commodities Updates: Silver Drops by 4.38%
Top commodity losers are Silver (-4.38%), Silicon (-1.75%), Platinum (-1.60%) and Gold (-1.47%).
Energy Commodities Updates: Natural Gas UK Falls by 3.11%
Top commodity losers are Natural Gas UK (-3.11%), Crude Oil WTI (-2.75%), Natural Gas EU (-2.47%) and Brent Crude Oil (-2.35%). Gains are led by Methanol (1.91%).
FX Updates: Brazilian Real Rises by 0.56%
Top currency gainers are Brazilian Real (0.56%), Indian Rupee (0.42%), British Pound (0.31%) and Euro (0.10%). Biggest losers are Swedish Krona (-0.30%), Japanese Yen (-0.12%) and Dollar Index (-0.06%).
US Oil Stockpiles Fall More Than Expected
US crude oil inventories fell by 9.1 million barrels in the week ended June 5, far exceeding forecasts for a 3.4 million-barrel draw, after declining by 6.7 million barrels in the previous week. Despite a cumulative decline of roughly 44 million barrels over the past eight weeks, crude inventories remain nearly 7 million barrels above year-end levels. The Strategic Petroleum Reserve also continued to shrink, with another 7.9 million barrels withdrawn during the week. Inventories at Cushing, Oklahoma, fell by 1.125 million barrels, following a 279,000-barrel decline a week earlier. US crude production eased to 13.707 million barrels per day from 13.715 million. Gasoline inventories declined by 1.191 million barrels after a 3.45 million-barrel increase in the prior week, while distillate stocks rose by 1.3 million barrels after falling 214,000 barrels previously.
Brazil Equities Rise on Oil Pullback
The Ibovespa gained 0.7% to close at 169,813 on Tuesday as lower oil prices eased inflation concerns and pushed bond yields lower, supporting financial stocks and the broader market. ItaΓΊ climbed 1.8%, Bradesco added 1.2%, and ItaΓΊsa gained 1.3%. Utilities also advanced, with Sabesp rising 1.7%. Other notable performers included Ambev (+0.8%) and Rede D'Or (+1.9%). On the downside, WEG lost 1.5% after reporting first-quarter 2026 results that fell short of expectations, with net profit down 5.7% from a year earlier.
TSX Slips as Mining and Energy Losses Weigh
The S&P/TSX Composite Index fell 0.2% to close at 34,412 on Tuesday, weighed down by losses in the mining, energy, and technology sectors. Mining shares retreated as gold prices declined amid expectations that the Federal Reserve will maintain a hawkish stance. Agnico Eagle shed 1.9%, Barrick lost 1.4%, and Wheaton Precious Metals fell 2.6%. Energy stocks also weakened as oil prices pulled back after Israel and Iran agreed to halt attacks following a renewed flare-up in hostilities. Canadian Natural dropped 3.6%, while Suncor lost 3%. In the tech sector, Shopify fell 0.5% and Celestica lost 4.9% as a wave of equity offerings by companies seeking capital to fund AI ambitions raised concerns about whether demand will be sufficient to absorb the new supply and what that could mean for valuations. Investors also looked ahead to the Bank of Canada's policy decision on Wednesday, with policymakers widely expected to leave interest rates unchanged.
S&P 500 and Nasdaq Close Lower
The S&P 500 and Nasdaq closed 0.25% and 1% lower respectivelly on Tuesday despite a retreat in oil prices, as the recent rebound in semiconductor shares lost steam. Semiconductor stocks came under renewed pressure, with the iShares Semiconductor ETF dropping more than 3% after rallying 6% on Monday. The fund had plunged 10% on Friday, its worst single-day decline in six years, as investors worried that the AI-fueled surge in chip stocks had become overheated. Micron Technology fell nearly 5%, giving back part of Mondayβs 10% recovery. The stock had already lost about 20% over two trading sessions last week, including a steep 13% decline on Friday. Broadcom, which also suffered a sharp two-day selloff last week, slipped more than 2%. In contrast, the Dow Jones gained 0.2% boosed by J&J, Visa and JP Morgan.
Argentina Industrial Output Falls in April
Argentina's industrial production fell 2.8% year-on-year in April 2026, reversing a 5% increase in the previous month. Twelve of the 16 manufacturing sectors posted annual declines. The largest drags came from machinery and equipment (-20.2%), textiles (-22.2%), apparel, leather and footwear (-15.9%), basic metals (-11.2%), motor vehicles and auto parts (-10.7%), and food and beverages (-2.4%). Smaller declines were recorded in other equipment and instruments (-11.4%), non-metallic minerals (-6.4%), rubber and plastics (-5.1%), furniture and other manufacturing (-5.1%), metal products (-1.4%), and other transport equipment (-2.1%). Partly offsetting the weakness, output rose in chemicals (16.7%), petroleum refining (5.6%), tobacco products (6.5%), and wood, paper and printing (4.1%).
Crypto Updates: Ether Drops by 2.51%
Top crypto losers are Ether (-2.51%), Bitcoin (-2.22%) and Binance (-1.43%).
Agricultural Commodities Updates: Butter Falls by 3.07%
Top commodity losers are Butter (-3.07%), Cotton (-2.68%) and Rubber (-2.30%). Gains are led by Lumber (1.23%) and Oat (0.75%).
Metals Commodities Updates: Silver Falls by 4.09%
Top commodity losers are Silver (-4.09%), Silicon (-1.75%), Platinum (-1.52%) and Gold (-1.17%).
Energy Commodities Updates: Crude Oil WTI Falls by 3.28%
Top commodity losers are Crude Oil WTI (-3.28%), Natural Gas UK (-3.11%) and Brent Crude Oil (-2.68%). Gains are led by Methanol (1.91%) and Natural gas (0.50%).
TSX Falls on Mining and Energy Losses
The S&P/TSX Composite Index fell more than 0.5% to trade below 34,500 on Tuesday, weighed down by losses in the mining, energy, and technology sectors. Mining shares retreated as gold prices declined amid expectations that the Federal Reserve will maintain a hawkish stance. Agnico Eagle and WPM lost about 3%, while Franco-Nevada and Barrick shed around 2.5%. Energy stocks also weakened as oil prices pulled back after Israel and Iran agreed to halt attacks following a renewed flare-up in hostilities. Canadian Natural and Suncor dropped 3%. In the tech sector, Shopify fell 1.5%, while Celestica plunged 7% as investors took profits after the recent AI-driven rally. Investors also looked ahead to the BoC's policy decision on Wednesday, with policymakers expected to leave interest rates unchanged. Meanwhile, prospects for progress in US-Iran negotiations deteriorated after President Trump said Iran had shot down a US helicopter patrolling the Strait of Hormuz and vowed to retaliate.
ProLogis Stock Price Hits 4-year High
ProLogis shares increased to 147.93 USD, the highest since May 2022. Over the past 4 weeks, ProLogis gained 2.48%, and in the last 12 months, it increased 34.85%.
Microsoft Stock Price Hits 5-week Low
Microsoft shares decreased to 400.62 USD, the lowest since April 2026. Over the past 4 weeks, Microsoft lost 2.81%, and in the last 12 months, it decreased 14.83%.
Corning Stock Price Hits 5-week Low
Corning shares decreased to 169.11 USD, the lowest since May 2026. Over the past 4 weeks, Corning lost 18.41%, and in the last 12 months, it increased 234.34%.
DAX Finishes in the Red
The DAX 40 reversed course to close about 0.7% lower at 24,418 on Tuesday, the lowest since May 19, amid renewed weakness in the tech sector. The index tracked losses on Wall Street as concerns about high valuations among US tech giants resurfaced ahead of SpaceXβs IPO on Friday. Meanwhile, Middle East news was broadly reassuring as Israel and Iran halted strikes following an appeal from US President Trump, who said a deal with Tehran was close to being finalized. In the meantime, US Energy Secretary Chris Wright pointed to increasing shipping traffic through the Strait of Hormuz. The tech sector was the hardest hit, with Infineon Technologies and SAP down 3.4% and 2.2%, respectively. Siemens Energy also faced heavy pressure, dropping nearly 6%. On the opposite side, Symrise led gains, climbing 7.2%, after JPMorgan reaffirmed its Buy rating and kept its β¬100 price target unchanged.
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