Investing
-
The markets are apprehensive despite better-than-expected inflation data for April.
-
UNH stock is lower on an executive shakeup. Technology stocks are delivering a mixed showing.
-
Are you ahead, or behind on retirement? SmartAsset’s free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don’t waste another minute; get started by clicking here.(Sponsor)
Live Updates
Live Coverage
Updates appear automatically as they are published.
10:51 am
Nvidia (Nasdaq: NVDA) is taking its spot as a Big Tech leader, tacking on 5% in today’s trading session. The AI leader revealed it would be sending thousands of its AI chips to Saudi Arabia’s Humain. With a market cap of $3 trillion, Nvidia has gained 14.1% over the past five trading sessions and has narrowed its year-to-date decline to 3.4%.
10:10 am
Former stock market headwinds are turning into tailwinds. Wall Street firm Goldman Sachs has revised its 2025 stock market performance outlook upward. Goldman Sachs Chief U.S. Equity Strategist David Kostin increased his 2025 S&P 500 prediction to 6,100, up from a former 5,900, suggesting upside potential of approximately 4% from current levels. He wrote: “We raise our S&P 500 return and earnings forecasts to incorporate lower tariff rates, better economic growth, and less recession risk than we previously expected.”
This article will be updated throughout the day, so check back often for more daily updates.
The markets are stalling as they process the latest inflation data coupled with the trade progress between the U.S. and China. The economy appears to be headed in the right direction, as the annual inflation rate fell to 2.3% in April, representing its lowest threshold since 2021. For the month, the Consumer Price Index (CPI) rose by a mere 0.2%, while prices for eggs, a common grocery item, fell by just over 12%. The inflation data was better than expected considering April followed a period of heightened trade tensions, with a truce and tariff reductions announced in May.
The Nasdaq Composite is looking to extend yesterday’s gains, as Big Tech delivers a mixed performance. Amazon (Nasdaq: AMZN) and Nvidia (Nasdaq: NVDA) are each tacking on about 2% today, while Microsoft (Nasdaq: MSFT) and Apple (Nasdaq: AAPL) are off fractionally.
Ed Yardeni, of the research firm that bears his name, has lowered the chances of a U.S. recession and raised his S&P 500 year-end target to 6,500 in response to the Trump administration’s ability to successfully navigate tariff deals.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 199.63 (-0.47%)
Nasdaq Composite: Up 91.95 (+0.50%)
S&P 500: Up 5.80 (+0.10%)
Market Movers
Coinbase (Nasdaq: COIN) is soaring by 15% after further validating the cryptocurrency industry with a spot in the S&P 500.
UnitedHealth Group (NYSE: UNH) is suffering a 12% decline amid further turmoil in the C-Suite. The healthcare giant announced CEO Andrew Witty would be leaving his post, owing to personal reasons. The company has named Stephen Hemsley as Witty’s successor. Brian Thompson, former CEO of UnitedHealthcare (a division of UnitedHealth Group), was fatally gunned down in 2024. UnitedHealth has suspended its 2025 outlook.
Raymond James has started coverage of Super Micro (Nasdaq: SMCI) with an “outperform” rating, calling it a “nearly pure AI play.”
Goldman Sachs upgrades shares of Valero Energy (NYSE: VLO) from “neutral” to “buy” with a price target of $154 attached, reflecting upside potential of 15%.
In 20 Years, I Haven’t Seen A Cash Back Card This Good
After two decades of reviewing financial products I haven’t seen anything like this. Credit card companies are at war, handing out free rewards and benefits to win the best customers.
A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges.
Our top pick today pays up to 5% cash back, a $200 bonus on top, and $0 annual fee. Click here to apply before they stop offering rewards this generous.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.