Investing
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The S&P 500 is trading back above the 6,000 level once again.
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Stocks are mixed as U.S. and China officials resume trade discussions across the pond.
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11:12 am
The New York Fed Survey of Consumer Expectations index indicated cooling inflation in May, dropping 0.4 percentage points from April to settle at 3.2%. This decline comes as the Trump administration made strides with U.S. trade partners.
The SPY ETF is up 0.11% at last check.
10:30 am
Morgan Stanley has turned cautious on fast-food giant McDonald’s (NYSE: MCD), downgrading the stock to an “equal weight” rating from “overweight,” saying the company is vulnerable to “structural pressures on fast food.” The analyst lowered the price target on MCD to $324 per share, which still reflects upside potential. MCD stock is down 2% today to trade at $301 per share.
This article will be updated throughout the day, so check back often for more daily updates.
The S&P 500 is trading back above the psychologically sensitive 6,000 level once again as the markets keep it together. U.S. and Chinese officials are expected to restart trade discussions in Europe today. Big Tech’s Apple (Nasdaq: AAPL) is gearing up for its developer conference, WWDC, today, featuring a keynote speech from CEO Tim Cook. The markets are awaiting any advancements on AI innovation.
After starting the trading session higher out of the gate, the three major stock market averages have turned mixed. While the S&P 500 and Nasdaq Composite are holding onto slight gains, the Dow Jones Industrial Average has turned modestly lower. The SPDR S&P 500 ETF (SPY) is up 0.15%).
Chip stocks are higher, including a 3.4% gain in Advanced Micro Devices (Nasdaq: AMD). Magnificent 7 stock Tesla (Nasdaq: TSLA) is under pressure, falling 3.9%. Analysts turned skeptical on the EV stock, citing distractions stemming from tensions between CEO Elon Musk and President Trump.
On the economic front, key inflation data is anticipated mid-week with the release of the Consumer Price Index and Producer Price Index results for May.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 117.74 (-0.28%)
Nasdaq Composite: Up 86.85 (+0.42%)
S&P 500: Up 5.19 (+0.09%)
Market Movers
Meta Platforms (Nasdaq: META) is reportedly in talks to invest over $10 billion in AI startup Scale AI, per Bloomberg.
Archer Aviation (NYSE: ACHR) is climbing 5% higher today as its piloted flight program picks up speed in both the U.S. and UAE.
Quantum computing stock IonQ (NYSE: IONQ) advanced 3% after revealing a billion-dollar deal to acquire London-based Oxford Ionics.
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