Market Update
Mixed Sentiment on Wall Street Ahead of U.S. Listing of SK Hynix
Barry Adams
09 Jul, 2026
New York City
In early trading, stocks in New York traded mixed, and bond yields edged higher amid escalating tensions in the Middle East.
The S&P 500 Index increased 0.1%, and the tech-focused Nasdaq Composite edged down a fraction as investors debated future rate outlook.
West Texas Intermediate crude oil prices edged up 0.9% to $74.21 a barrel, and the Brent crude oil price increased 0.95% to $78.74 a barrel after the U.S. and Iran continued their bombing campaigns.
Iran struck the U.S. military bases in Bahrain, Kuwait, and Qatar, and the U.S. CENTCOM conducted its second wave of strikes targeting 90 military installations along the coast of Iran.
Despite the surge in crude oil prices, market averages in Japan and South Korea halted their two-day slide amid a recovery in tech stocks following the strong interest in the U.S. listing of SK Hynix.
The South Korean company's U.S. listing on Friday oversubscribed by seven times, according to a Reuters report.
U.S. Movers
Levi Strauss declined 4.4% to $23.32 despite the denim maker reporting better-than-expected revenue and earnings in the fiscal second quarter and raising its guidance and dividend.
Revenue in the quarter ending in May increased to $1.6 billion from $1.4 billion, net income advanced to $87.3 million from $67.0 million, and diluted earnings per share rose to 22 cents from 17 cents a year ago.
The company revised its net revenue growth range estimate higher to between 7.0% and 7.5% from the previous range between 5.5% and 6.5%.
The company revised adjusted diluted earnings per share to a range between $1.46 and $1.52 from the previous estimate between $1.42 and $1.58.
Levi Strauss hiked its quarterly cash dividend by 14% to 16 cents per share, payable on August 5 to shareholders on record on July 22.
Mixed Sentiment on Wall Street Ahead of U.S. Listing of SK Hynix
Barry Adams
09 Jul, 2026
New York City
In early trading, stocks in New York traded mixed, and bond yields edged higher amid escalating tensions in the Middle East.
The S&P 500 Index increased 0.1%, and the tech-focused Nasdaq Composite edged down a fraction as investors debated future rate outlook.
West Texas Intermediate crude oil prices edged up 0.9% to $74.21 a barrel, and the Brent crude oil price increased 0.95% to $78.74 a barrel after the U.S. and Iran continued their bombing campaigns.
Iran struck the U.S. military bases in Bahrain, Kuwait, and Qatar, and the U.S. CENTCOM conducted its second wave of strikes targeting 90 military installations along the coast of Iran.
Despite the surge in crude oil prices, market averages in Japan and South Korea halted their two-day slide amid a recovery in tech stocks following the strong interest in the U.S. listing of SK Hynix.
The South Korean company's U.S. listing on Friday oversubscribed by seven times, according to a Reuters report.
U.S. Movers
Levi Strauss declined 4.4% to $23.32 despite the denim maker reporting better-than-expected revenue and earnings in the fiscal second quarter and raising its guidance and dividend.
Revenue in the quarter ending in May increased to $1.6 billion from $1.4 billion, net income advanced to $87.3 million from $67.0 million, and diluted earnings per share rose to 22 cents from 17 cents a year ago.
The company revised its net revenue growth range estimate higher to between 7.0% and 7.5% from the previous range between 5.5% and 6.5%.
The company revised adjusted diluted earnings per share to a range between $1.46 and $1.52 from the previous estimate between $1.42 and $1.58.
Levi Strauss hiked its quarterly cash dividend by 14% to 16 cents per share, payable on August 5 to shareholders on record on July 22.
Japan's Indexes Snapped Two-Day Losing Streak, Bain Sold Remaining Stake In Kioxia
Akira Ito
09 Jul, 2026
Tokyo
Japan's indexes rebounded on Thursday and halted a two-day slide amid a rebound in tech stocks.
The Nikkei 225 Stock Average gained 1.6%, the broader TOPIX increased 0.3%, and the yen weakened to 162.38 against the U.S. dollar.
Japan's stocks responded positively to a rebound in memory and chipmakers during overnight trading, following the oversubscription of SK Hynix's U.S. IPO by seven times, which underscored the sustained demand for AI infrastructure-linked stocks.
Investors also reviewed the latest minutes of the U.S. Fed's policy meeting held on June 16-17, and policymakers remained divided over the interest rate outlook.
Overall inflation has hovered above the Fed's target rate of 2% for more than five years, and the latest bout of inflation is rooted in the Middle East conflict, which some policymakers viewed as transitory.
However, many policymakers worried that the surge in artificial intelligence infrastructure would keep inflation elevated by lifting prices for advanced chips and other electronic goods.
Most Fed watchers and market analysts are anticipating the Federal Reserve to raise the key lending rate by 25 basis points before the year's end and after the midterm elections.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 1.6% to 67,889.07, and the broader TOPIX rose 0.3% to 4,018.08.
Kioxia Holdings soared 6.6% to ¥76,590.0 after strong interest in the U.S. listing of South Korea's SK Hynix supported demand for artificial intelligence infrastructure providers.
Bain Capital sold its entire stake in the memory maker after steadily trimming its holdings over the last eighteen months, said managing partner David Gross, according to Bloomberg.
Bain led the memory-makers' $18 billion buyout in 2018, and Kioxia was listed on the Tokyo Stock Exchange on December 18, 2024.
Kioxia Holdings listed its stock at a price of 1,455 per share and raised 120 billion yen, or $800 million.
Japan's Indexes Snapped Two-Day Losing Streak, Bain Sold Remaining Stake In Kioxia
Akira Ito
09 Jul, 2026
Tokyo
Japan's indexes rebounded on Thursday and halted a two-day slide amid a rebound in tech stocks.
The Nikkei 225 Stock Average gained 1.6%, the broader TOPIX increased 0.3%, and the yen weakened to 162.38 against the U.S. dollar.
Japan's stocks responded positively to a rebound in memory and chipmakers during overnight trading, following the oversubscription of SK Hynix's U.S. IPO by seven times, which underscored the sustained demand for AI infrastructure-linked stocks.
Investors also reviewed the latest minutes of the U.S. Fed's policy meeting held on June 16-17, and policymakers remained divided over the interest rate outlook.
Overall inflation has hovered above the Fed's target rate of 2% for more than five years, and the latest bout of inflation is rooted in the Middle East conflict, which some policymakers viewed as transitory.
However, many policymakers worried that the surge in artificial intelligence infrastructure would keep inflation elevated by lifting prices for advanced chips and other electronic goods.
Most Fed watchers and market analysts are anticipating the Federal Reserve to raise the key lending rate by 25 basis points before the year's end and after the midterm elections.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 1.6% to 67,889.07, and the broader TOPIX rose 0.3% to 4,018.08.
Kioxia Holdings soared 6.6% to ¥76,590.0 after strong interest in the U.S. listing of South Korea's SK Hynix supported demand for artificial intelligence infrastructure providers.
Bain Capital sold its entire stake in the memory maker after steadily trimming its holdings over the last eighteen months, said managing partner David Gross according to Bloomberg.
Bain led the memory-makers' $18 billion buyout in 2018, and Kioxia was listed on the Tokyo Stock Exchange on December 18, 2024.
Kioxia Holdings listed its stock at a price of 1,455 per share and raised 120 billion yen, or $800 million.
China's Inflation Eased In May; PBoC Reiterated Accommodative Stance
Li Chen
09 Jul, 2026
Hong Kong
China's indexes lacked direction on Thursday, and investors welcomed the central bank's reassurance of keeping monetary policy appropriately loose.
The Hang Seng Index decreased 0.7%, the mainland-focused CSI 300 Index edged up 0.1%, and the 10-year government bond yield fell to a one-week low of 1.73% as investors reacted to the PBoC's willingness to provide liquidity.
The PBoC said it is willing to supply additional liquidity to support demand while acknowledging the imbalance between strong supply and weak demand.
China's annual consumer inflation eased 1.0% in June from 1.2% in May, marking the softest increase in three months, according to the National Bureau of Statistics.
Food prices fell for the third consecutive month but decreased at a slower annual pace of 1.6% from 1.7% in May.
Core inflation, which excludes food and energy prices, slowed to 1.0% from a 1.1% rise in May, confirming a weak demand growth outlook.
Producer price inflation accelerated to 4.1% in June from 3.9% in May, said the NBS in a separate report.
China's factory-gate prices advanced for the fourth consecutive month after falling for 41 months in a row, driven by the conflict in the Middle East and soaring prices of imported energy.
In overnight trading, market averages in New York retained a downward bias amid concerns that the elevated level of AI infrastructure investment is not sustainable.
Brent crude oil prices edged up 1.3% to $78.83 a barrel after tensions in the Middle East escalated, and the U.S. struck as many as 90 targets in Iran.
Iran resumed its aerial strikes targeting the U.S. military bases in Kuwait, Bahrain, and Qatar in the Gulf and stepped up precision strikes on commercial ships in the Strait of Hormuz.
China Indexes and Stocks
The Hang Seng Index decreased 0.7% to 24,020.61, and the mainland-focused CSI 300 Index edged up 0.1% to 4,758.39.
Technology stocks led gainers in Shanghai, Shenzhen, and Hong Kong on Thursday.
Eoptolink Technology gained 3%, Zhongji Innolight added 3.3%, and NAURA Technology increased 2.7%.
Energy companies advanced following a 1% rebound in crude oil prices.
CNOOC gained 1.2%, and PetroChina increased 1.1%.
China's Inflation Eased In May; PBoC Reiterated Accommodative Stance
Li Chen
09 Jul, 2026
Hong Kong
China's indexes lacked direction on Thursday, and investors welcomed the central bank's reassurance of keeping monetary policy appropriately loose.
The Hang Seng Index decreased 0.7%, the mainland-focused CSI 300 Index edged up 0.1%, and the 10-year government bond yield fell to a one-week low of 1.73% as investors reacted to the PBoC's willingness to provide liquidity.
The PBoC said it is willing to supply additional liquidity to support demand while acknowledging the imbalance between strong supply and weak demand.
China's annual consumer inflation eased 1.0% in June from 1.2% in May, marking the softest increase in three months, according to the National Bureau of Statistics.
Food prices fell for the third consecutive month but decreased at a slower annual pace of 1.6% from 1.7% in May.
Core inflation, which excludes food and energy prices, slowed to 1.0% from a 1.1% rise in May, confirming a weak demand growth outlook.
In overnight trading, market averages in New York retained a downward bias amid concerns that the elevated level of AI infrastructure investment is not sustainable.
Brent crude oil prices edged up 1.3% to $78.83 a barrel after tensions in the Middle East escalated, and the U.S. struck as many as 90 targets in Iran.
Iran resumed its aerial strikes targeting the U.S. military bases in Kuwait, Bahrain, and Qatar in the Gulf and stepped up precision strikes on commercial ships in the Strait of Hormuz.
China Indexes and Stocks
The Hang Seng Index decreased 0.7% to 24,020.61, and the mainland-focused CSI 300 Index edged up 0.1% to 4,758.39.
Technology stocks led gainers in Shanghai, Shenzhen, and Hong Kong on Thursday.
Eoptolink Technology gained 3%, Zhongji Innolight added 3.3%, and NAURA Technology increased 2.7%.
Energy companies advanced following a 1% rebound in crude oil prices.
CNOOC gained 1.2%, and PetroChina increased 1.1%.
U.S. and Global Markets Fell Sharply as US-Iran Tensions Escalate
Barry Adams
08 Jul, 2026
New York City
Wall Street indexes plunged amid resurgent of hostilities in the Middle East and soaring oil prices.
The S&P 500 Index decreased 1%, and the tech-heavy Nasdaq Composite declined 1.2% as sentiment towards the semiconductor and tech stocks remained weak.
West Texas Intermediate crude oil prices rose 5% to $74.02 a barrel, and the Brent crude oil price advanced 4.6% to $77.56 a barrel as tensions in the Middle East fueled further supply disruptions.
The U.S. president declared that the ceasefire with Iran is "over." blaming the recent Iranian attacks in the Strait of Hormuz. The U.S. also carried out several surgical strikes on targets in Iran and nearby islands.
Iran conducted the latest wave of attacks in the Strait of Hormuz following persistent bombings by the Israeli forces in southern Lebanon, breaking the terms of the U.S.-Iran agreement.
The latest Fed's meeting minutes are scheduled to be released later in the day, and divided officials are likely to highlight concerns over persistent inflation.
However, policymakers are likely to support only one rate hike later in the year, most likely after the mid-term federal elections in early November.
Across the Atlantic, benchmark indexes in Germany decreased 1.8%, in France fell 1.7%, and in the UK dropped 1.6%.
The market sentiment over the semiconductor equipment and memory stocks remained weak, and the benchmark indexes in South Korea decreased about 5% for the second consecutive session.
The Nikkei 225 Stock Average declined 0.7%, the broader TOPIX fell 0.6%, and the yen traded at 162.45 against the US dollar.
U.S. Movers
Energy producers jumped after the U.S. president declared the end of ceasefire with Iran.
Exxon Mobil increased 1.5%, Chevron increased 2%, Marathon Petroleum jumped 2.5%, and ConocoPhillips advanced 1.9%.
Semiconductor and memory stocks led the decliners in New York for the second week in a row amid worries that the AI infrastructure investment is likely to cool down.
SanDisk decreased dropped 4.5% to $1,550.67, Micron Technology fell 3.5% to $905.39, Intel eased 1.5% to $108.72, and Nvidia Corp. declined 1% to $194.95.
U.S. and Global Markets Fell Sharply as US-Iran Tensions Escalate
Barry Adams
08 Jul, 2026
New York City
Wall Street indexes plunged amid resurgent of hostilities in the Middle East and soaring oil prices.
The S&P 500 Index decreased 1%, and the tech-heavy Nasdaq Composite declined 1.2% as sentiment towards the semiconductor and tech stocks remained weak.
West Texas Intermediate crude oil prices rose 5% to $74.02 a barrel, and the Brent crude oil price advanced 4.6% to $77.56 a barrel as tensions in the Middle East fueled further supply disruptions.
The U.S. president declared that the ceasefire with Iran is "over", blaming the recent Iranian attacks in the Strait of Hormuz. The U.S. also carried out several surgical strikes on targets in Iran and nearby islands.
Iran conducted the latest wave of attacks in the Strait of Hormuz following persistent bombings by the Israeli forces in southern Lebanon, breaking the terms of the U.S.-Iran agreement.
The latest Fed's meeting minutes are scheduled to be released later in the day, and divided officials are likely to highlight concerns over persistent inflation.
However, policymakers are likely to support only one rate hike later in the year, most likely after the mid-term federal elections in early November.
Across the Atlantic, benchmark indexes in Germany decreased 1.8%, in France fell 1.7%, and in the UK dropped 1.6%.
The market sentiment over the semiconductor equipment and memory stocks remained weak, and the benchmark indexes in South Korea decreased about 5% for the second consecutive session.
The Nikkei 225 Stock Average declined 0.7%, the broader TOPIX fell 0.6%, and the yen traded at 162.45 against the US dollar.
U.S. Movers
Energy producers jumped after the U.S. president declared the end of ceasefire with Iran.
Exxon Mobil increased 1.5%, Chevron increased 2%, Marathon Petroleum jumped 2.5%, and ConocoPhillips advanced 1.9%.
Semiconductor and memory stocks led the decliners in New York for the second week in a row amid worries that the AI infrastructure investment is likely to cool down.
SanDisk decreased dropped 4.5% to $1,550.67, Micron Technology fell 3.5% to $905.39, Intel eased 1.5% to $108.72, and Nvidia Corp. declined 1% to $194.95.
Nikkei and Kospi Extended Weekly Losses Amid Sell Off In Semi Stocks and Escalating Middle East Tensions
Akira Ito
08 Jul, 2026
Tokyo
Japan's indexes decreased for the second consecutive session, tracking losses in tech stocks in overnight trading in New York.
The Nikkei 225 Stock Average declined 0.7%, the broader TOPIX fell 0.6%, and the yen traded at 162.45 against the U.S. dollar.
Semiconductor-linked stocks led decliners for the second session in a row amid worries that the global investment in AI infrastructure may cool down faster than previously estimated.
Technology and consumer electronics account for about 50% of the Nikkei 225 weight.
The market sentiment over the semiconductor equipment and memory stocks remained weak, and the benchmark indexes in South Korea decreased about 5% for the second consecutive session.
The two leading electronics companies—SK Hynix and Samsung Electronics—account for about 40% of the benchmark index, and turbulence in tech stocks adds to volatility in broader market averages.
Escalating tensions in the Middle East also weighed on the market sentiment, and investors reacted to rising oil prices.
The U.S. and Iran exchanged aerial attacks over the Strait of Hormuz, and both warring nations reimposed their blockade on commercial shipments.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.7% to 67,769.84, and the broader TOPIX dropped 0.6% to 4,040.28.
Tokyo Electron decreased 1.5%, Advantest Corp. fell 2%, SoftBank Group gained 2%, Ibiden Co. declined 3%, and Kioxia Holdings traded up 2.2%.
Nikkei and Kospi Extended Weekly Losses Amid Sell Off In Semi Stocks and Escalating Middle East Tensions
Akira Ito
08 Jul, 2026
Tokyo
Japan's indexes decreased for the second consecutive session, tracking losses in tech stocks in overnight trading in New York.
The Nikkei 225 Stock Average declined 0.7%, the broader TOPIX fell 0.6%, and the yen traded at 162.45 against the U.S. dollar.
Semiconductor-linked stocks led decliners for the second session in a row amid worries that the global investment in AI infrastructure may cool down faster than previously estimated.
Technology and consumer electronics account for about 50% of the Nikkei 225 weight.
The market sentiment over the semiconductor equipment and memory stocks remained weak, and the benchmark indexes in South Korea decreased about 5% for the second consecutive session.
The two leading electronics companies—SK Hynix and Samsung Electronics—account for about 40% of the benchmark index, and turbulence in tech stocks adds to volatility in broader market averages.
Escalating tensions in the Middle East also weighed on the market sentiment, and investors reacted to rising oil prices.
The U.S. and Iran exchanged aerial attacks over the Strait of Hormuz, and both warring nations reimposed their blockade on commercial shipments.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.7% to 67,769.84, and the broader TOPIX dropped 0.6% to 4,040.28.
Tokyo Electron decreased 1.5%, Advantest Corp. fell 2%, SoftBank Group gained 2%, Ibiden Co. declined 3%, and Kioxia Holdings traded up 2.2%.
A Rebound In Semiconductor Stocks Lifted China Indexes, Escalating Middle East Tensions Weighed
Li Chen
08 Jul, 2026
Hong Kong
China's indexes halted a three-day slide and overlooked rising tensions in the Middle East.
The Hang Seng Index soared 2.4% to 4,821.65, and the mainland-focused CSI 300 Index edged up 0.6% to 4,821.65.
AI- and semiconductor-linked stocks rebounded as investors searched for bargains following a steep sell-off in the previous session amid worries that massive investment in global AI infrastructure may not be sustainable.
Samsung Electronics extended a two-day loss to 10% despite reporting a 19-fold increase in second quarter profit as investors focused on escalating costs of expansion and a possible decrease in demand growth.
In yesterday's trading, benchmark indexes in South Korea plunged 5% and in Japan fell 2%, and the sell-off rippled to markets in Europe and in New York.
The renewed tensions in the Middle East raised doubts about ongoing discussions aimed at securing a lasting peace agreement between the U.S. and Iran.
Brent crude oil prices rose 2.6% to $76.01 a barrel after the U.S. escalated pressure on Iran by conducting new airstrikes and reimposed a blockade of shipments.
China Indexes and Stocks
The Hang Seng Index increased 2.4% to 24,070.89, and the mainland-focused CSI 300 Index advanced 0.6% to 4,821.65.
Financial services. Industrial and technology stocks led gainers in Shanghai and Hong Kong trading.
Industrial and Commercial Bank of China jumped 3.4% to HK $6.71, China Construction Bank advanced 3.4% to HK $8.13, HSBC Holdings plc gained 0.1% to HK $153.30, and China CITIC Bank increased 2.9% to HK $6.91.
A Rebound In Semiconductor Stocks Lifted China Indexes, Escalating Middle East Tensions Weighed
Li Chen
08 Jul, 2026
Hong Kong
China's indexes halted a three-day slide and overlooked rising tensions in the Middle East.
The Hang Seng Index soared 2.4% to 4,821.65, and the mainland-focused CSI 300 Index edged up 0.6% to 4,821.65.
AI- and semiconductor-linked stocks rebounded as investors searched for bargains following a steep sell-off in the previous session amid worries that massive investment in global AI infrastructure may not be sustainable.
Samsung Electronics extended a two-day loss to 10% despite reporting a 19-fold increase in second quarter profit as investors focused on escalating costs of expansion and a possible decrease in demand growth.
In yesterday's trading, benchmark indexes in South Korea plunged 5% and in Japan fell 2%, and the sell-off rippled to markets in Europe and in New York.
The renewed tensions in the Middle East raised doubts about ongoing discussions aimed at securing a lasting peace agreement between the U.S. and Iran.
Brent crude oil prices rose 2.6% to $76.01 a barrel after the U.S. escalated pressure on Iran by conducting new airstrikes and reimposed a blockade of shipments.
China Indexes and Stocks
The Hang Seng Index increased 2.4% to 24,070.89, and the mainland-focused CSI 300 Index advanced 0.6% to 4,821.65.
Financial services. Industrial and technology stocks led gainers in Shanghai and Hong Kong trading.
Industrial and Commercial Bank of China jumped 3.4% to HK $6.71, China Construction Bank advanced 3.4% to HK $8.13, HSBC Holdings plc gained 0.1% to HK $153.30, and China CITIC Bank increased 2.9% to HK $6.91.
Chip Stocks Sell-Off Ripples from Asia to New York After Samsung Earnings
Barry Adams
07 Jul, 2026
New York City
Benchmark indexes turned lower on Tuesday as investors continued to avoid high-flying AI-related stocks.
The S&P 500 Index decreased 0.1%, and the tech-dominated Nasdaq Composite declined 0.9%, and investors rotated out of AI-related names into financials, healthcare, and industrials.
Chips and memory stocks dived for the second session even after Samsung Electronics reported a 19-fold rise in income in the second quarter.
Shares of Micron, Marvell Technology, SanDisk, Nvidia, and AMD decreased between 2% and 7% following the reaction to Samsung results.
Benchmark indexes in Japan dropped 2% and in South Korea fell 5%, and the weakness in tech stocks rippled to markets in Europe.
Market averages in Germany decreased 0.6%, but in France and the U.K., they advanced 0.3%, respectively.
Crude oil prices advanced 0.6% to $68.50 a barrel, and the Brent crude oil price inched higher 0.8% to $72.53 a barrel following reports of Iranian attacks on commercial ships in the Strait of Hormuz.
In the absence of any major earnings releases scheduled today, investors will focus on the U.S. trade deficit.
The U.S. trade deficit widened sharply in May after imports rose faster than exports, according to the U.S. Bureau of Economic Analysis.
Exports fell 3.2% to $317.7 billion, and imports advanced 3.3% to $395.3 billion, resulting in a trade deficit of $77.6 billion, the largest gap since March 2025.
U.S. Movers
Vertex Pharma decreased 0.3% to $525.0, and the company agreed to acquire rare-disease-focused Crinetics Pharmaceuticals in a $10 billion deal.
Vertex focuses on development and commercialization of medicines for serious diseases related to autoimmune and inflammatory disorders.
Vertex agreed to acquire Crinetics for $85 a share, or $8.8 billion in cash, and the deal is expected to be completed by the third quarter of this year.
Crinetics jumped 99% to $83.63 in early trading in New York, and the company focuses on developing medicines for hormone-related diseases, including endocrine disorders.
Chip Stocks Sell-Off Ripples from Asia to New York After Samsun Earnings
Barry Adams
07 Jul, 2026
New York City
Benchmark indexes turned lower on Tuesday as investors continued to avoid high-flying AI-related stocks.
The S&P 500 Index decreased 0.1%, and the tech-dominated Nasdaq Composite declined 0.9%, and investors rotated out of AI-related names into financials, healthcare, and industrials.
Chips and memory stocks dived for the second session even after Samsung Electronics reported a 19-fold rise in income in the second quarter.
Shares of Micron, Marvell Technology, SanDisk, Nvidia, and AMD decreased between 2% and 7% following the reaction to Samsung results.
Benchmark indexes in Japan dropped 2% and in South Korea fell 5%, and the weakness in tech stocks rippled to markets in Europe.
Market averages in Germany decreased 0.6%, but in France and the U.K., they advanced 0.3%, respectively.
Crude oil prices advanced 0.6% to $68.50 a barrel, and the Brent crude oil price inched higher 0.8% to $72.53 a barrel following reports of Iranian attacks on commercial ships in the Strait of Hormuz.
In the absence of any major earnings releases scheduled today, investors will focus on the U.S. trade deficit.
U.S. Movers
Vertex Pharma decreased 0.3% to $525.0, and the company agreed to acquire rare-disease-focused Crinetics Pharmaceuticals in a $10 billion deal.
Vertex focuses on development and commercialization of medicines for serious diseases related to autoimmune and inflammatory disorders.
Vertex agreed to acquire Crinetics for $85 a share, or $8.8 billion in cash, and the deal is expected to be completed by the third quarter of this year.
Crinetics jumped 99% to $83.63 in early trading in New York, and the company focuses on developing medicines for hormone-related diseases, including endocrine disorders.