The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
1412 ET - The slide in tech stocks looks like repositioning as positive macro data prompt a move to cyclical parts of the economy, says David Russell, global head of market strategy at TradeStation. "We're at the end of the best quarter that tech stocks have had this century. There's a lot of chopping and consolidation," he says. "My sense is we're seeing a shift away from a lot of the tech, not because it's overall bad but because it's a quarter end, and we're starting to see a real argument in favor of things like banks and retail stocks and some of the consumer non-growth stocks." Those could benefit if there is a sustained drop in oil and diesel prices that lower inflation and the market starts to see a potentially less hawkish or somewhat dovish Fed, he adds. (anthony.harrup@wsj.com)
1357 ET - Carnival CEO Josh Weinstein says booking trends appear to be normalizing, after extreme geopolitical volatility disrupted typical patterns during the recent quarter. The cruise line reports strong bookings for 2027 and beyond: "This strength has been broad-based and includes our European deployments next year, where bookings were up year-over-year in mid-teens percentages at higher prices," Weinstein says on a call with analysts. Booking trends were most disrupted across the Mediterranean region during the recent quarter, in areas closest to the Middle East. "As conditions continue to normalize, we expect to benefit from the strong underlying demand, pricing and operational improvements that remain embedded in our business," Weinstein adds. (connor.hart@wsj.com)
1250 ET - The ending of the conflict in Iran and a more hawkish Federal Reserve will pull the US economy in opposite directions, Oxford Economics says in a note. For consumers, "Lower global energy prices and reduced supply-chain stress will translate into cheaper gasoline prices and reduced second-round effects on prices for food, travel, and other energy-intensive sectors," Oxford says. However, higher interest rates present another headwind to the recovery of non-AI business investment. In addition, even as energy prices decline, Oxford expects headline inflation to run more than 3.2% through December, meaning real income growth will be flat for much of the rest of the year.(jessica.coacci@wsj.com)
1105 ET - Bank of Canada Governor Tiff Macklem says he expects the Canadian economy to return to growth mode after two straight quarters of contraction. However, he tells an audience in Paris that growth would be modest. "The economy is weak," he says during an question-and-answer session after a speech focused on global imbalances. He says the uncertainty posed by US trade policy and hefty tariffs on specific sectors such as steel, aluminum, automobiles and forest products are weighing on economic activity, in particular business investment--which has declined for five straight quarters.(paul.vieira@wsj.com; @paulvieira)
1007 ET - Bank of Canada Governor Tiff Macklem says the deal reached between the US and Iran to end the conflict and get crude oil moving through the Strait of Hormuz is a welcome development for the global economy. "Global energy prices have begun to come down, though much remains to be worked out," says Macklem, in a brief mention in a speech focused on global imbalances. Inflation accelerated in Canada in May to its highest level since 2023, fueled by rising gas prices. Economists argue the immediate pullback in energy prices should lead to a softening in headline inflation, providing further comfort to the BOC given that core CPI appears contained. (paul.vieira@wsj.com; @paulvieira)
0943 ET - U.S. natural gas futures are lower in choppy trade with a warmer weather outlook for early July supporting prices while solid production and comfortable inventories limit gains. "Storage remains at a 5.8% premium to the five-year average, which is keeping the sellers present on rallies," Dennis Kissler of BOK Financial says in a note. "Hotter weather forecasts will be needed to lift prices into July." Nymex natural gas is down 1.8% at $3.195/mmBtu. (anthony.harrup@wsj.com)
0934 ET - Oil futures are lower as the U.S. waives sanctions on Iranian oil, which along with a reopening of the Strait of Hormuz is seen freeing more oil into the market. Further price weakness can't be ruled out as the market focuses more on the loosening of oil balances than on the drop in oil stocks to "critically low levels" which could continue for several weeks, Ritterbusch & Associates says in a note. "Once the sharp supply downtrend begins to reverse, the process of refilling both commercial and SPR storage will provide a source of support through the rest of this year and well into next as far as the SPR is concerned." WTI is off 0.6% at $73.41 a barrel as the August contract debuts at the front of the curve. Brent is down 0.7% at $77.33 a barrel.(anthony.harrup@wsj.com)
0916 ET - Treasury yields cool down a little while the dollar rises as U.S.-Iran talks inch forward. Crude prices slip, as the U.S. cleared the way for Iran to sell oil in dollars, including to U.S. buyers, as part of the negotiations to restore shipping through the Strait of Hormuz. Falling energy prices can ease inflation concerns. Odds of a Fed hike in September decline slightly, according to CME. The WSJ Dollar Index rises 0.2%. The 10-year yield slips to 4.487% from yesterday's 4.507% settle. The two-year declines to 4.192% from 4.230%. (paulo.trevisani@wsj.com; @ptrevisani)
0854 ET - Couche-Tard's F4Q EPS beat was driven by solid gasoline margins, says Stifel's Martin Landry. "U.S. gasoline margins reached $0.52/gal, this highest level in more than five years," the analyst says. The company's arbitrage strategies benefited from the volatility in crude prices during the quarter, according to Landry. Citing data from OPIS, he says industry gasoline margins in the U.S. were approximately $0.35/gal during the quarter, while Couche-Tard's U.S. gasoline margins were $0.52/gal, "an outperformance of 46%, above the historical average outperformance of 15-18%. The strong gasoline margins were a main contributor to the earnings beat." (adriano.marchese@wsj.com)
0844 ET - RWE's acquisition of an additional stake in transmission grid operator Amprion is strategically attractive, Barclays analysts write. The German energy company will pay 3.6 billion euros for an additional 35% stake. The deal is another step into regulated infrastructure assets just as Germany's grid requires substantial investment, they say. The deal adds visibility to earnings from regulated assets, with RWE expecting more than 75% of adjusted earning per share in 2031 to be contracted or regulated, the analysts say. Shares fall 1.3% to 54.88 euros. (adam.whittaker@wsj.com)
0740 ET - Fuel-price volatility played right into Couche-Tard's strengths in F4Q. TD Cowen's Michael Van Aelst says in a note that EPS of 73 cents, up 59% year-over-year and far above consensus estimates of 54 cents, "stemmed from fuel margin outperformance across all geographies and U.S. in-store execution where merchandise same-store sales growth accelerated to 3.4%." Van Aelst says the strong beat "highlights how larger players like ATD can materially outperform during periods of fuel price volatility, particularly after significant supply chain investments." (adriano.marchese@wsj.com)
0703 ET - RWE's Amprion deal has several merits despite being funded via an equity raise rather than within the existing joint venture it has with Apollo Global Management as expected, BofA analysts write. The German energy company's acquisition of an additional 35% stake for 3.6 billion euros is immediately accretive to earnings per share and the acquisition price is cheap, the analysts write. The deal also reduces long-term earnings volatility and has significant investment optionality, the analysts add. Shares rise 0.8% to 56.02 euros. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
June 23, 2026 14:12 ET (18:12 GMT)
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