$AGQ

Oil-related stocks and ETFs rose as oil prices climbed due to Middle East tensions. Battalion Oil (BATL) gained 7%, USO up 2%, UCO up 3%. ExxonMobil's (XOM) Neil Chapman warned Brent crude could hit $160/barrel due to low inventories. Brent futures rose 3% to $93.59, WTI up 3.01% to $90.02. Chevron's (CVX) CEO Mike Wirth echoed supply concerns. IEA forecasts 2026 oil demand contraction.

Oil stocks and ETFs rose overnight as Brent crude prices exceeded $90/barrel due to U.S.-Iran tensions. BATL and TPET gained over 7% and 8%, while XOM and CVX rose about 1% each. USO and UCO climbed over 2% and 3%, respectively. Analysts noted potential impacts on gas prices and global energy supplies.

India’s public sector banks are targeting nearly $30 billion via the RBI’s concessional swap window, using FCNR(B) deposits, overseas foreign currency borrowings and external commercial borrowings. SBI targets $10 billion, Bank of Baroda $4–5 billion, and others smaller amounts. Government data show FCNR(B) net inflows of about $28 billion as of July 30, and total inflows around $41 billion by July 31.

Indian benchmarks Sensex and Nifty edged up in early trade after Q1 FY27 earnings, with Nifty above 24,550. Sentiment stayed cautious due to US-Iran conflict, monsoon progress, and crude oil and inflation data. PSU Bank index fell 0.78% after prior gains. Studds Accessories, Aarti Pharmalabs, and HBL Engineering moved on quarterly results.

Leveraged precious-metals ETFs rose as gold and silver spot prices climbed about 4% to 5% on the day. Direxion Daily Gold Miners Bull 2X Shares (NUGT) gained 14.46% and ProShares Ultra Silver (AGQ) rose 9.39%, while SPDR Gold Shares (GLD) added 4.3%. Traders cited a softer US dollar, lower Treasury yields, and cooling inflation/geopolitical de-escalation expectations. NUGT remains down 33.25% YTD and AGQ down 56.47%.

U.S. stocks fell Tuesday morning as tech shares retreated after Monday’s surge. The Dow dropped over 570 points before partial recovery, the S&P 500 fell about 2.2%, and the Nasdaq fell about 3.6%. Chip stocks declined, including NVDA (-4%), INTC, MU, MRVL, AMD, and ARM. Wells Fargo analyst Ohsung Kwon said the “sugar rush” behind the AI-led rally likely ended; WTI crude eased to about $89.34.

The article explains how ProShares Ultra Gold (UGL) and ProShares UltraShort Gold (GLL) use daily reset leverage, which can cause volatility decay and futures roll costs. It cites YTD performance of about -23% for UGL and +5% for GLL versus a naive 2x/-2x expectation. It contrasts with spot gold ETFs GLD and IAU.

According to provisional Q1 FY27 disclosures compiled by PTI for nine of 12 state-owned lenders, advances grew 12–29% YoY while deposits rose 3.5–16%, with retail RAM loans driving growth. Examples: BoB advances +17.4% vs deposits +13.8%; PNB +12.85% vs +8.5%; Union Bank deposits +3.5% vs advances +12.5%. Credit-deposit ratios rose and CASA ratios eased at some banks.

Odisha’s Finance Department ordered that all government departments, universities, state-run enterprises and agencies conduct deposits and transactions only through 14 approved public sector/cooperative banks, excluding major private banks. The panel was set after performance reviews using lending and SHG metrics (data through Mar 31, 2026). Existing empanelled-bank accounts must be closed by Dec 31, 2026.

On June 2, 2026, major U.S. indexes fell after testing record highs: the S&P 500 was down 0.19% (14 points) and the Nasdaq down 0.1% (30 points). Oil slipped to $91.04 and bitcoin to about $68,995. The article cites Shiller P/E at 42.78. Marvell rose to $260 after Nvidia comments; Alphabet fell in premarket after plans to raise $80 billion via stock sales.