Live Nasdaq Composite: Markets Stay Hopeful in Big Week for Tech Sector
Key Points
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The markets are higher out of the gate as Apple gears up for its much anticipated developer conference.
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The S&P 500 is trading back above the 6,000 level.
Live Updates
Apple Pipeline
Apple’s (Nasdaq: AAPL | AAPL Price Prediction) Worldwide Developers Conference (WWDC) will spotlight announcements from CEO Tim Cook relating to updates to the company’s operating systems for iPhones, iPads, Macs, etc. Apple is also expected to provide updates on AI software Apple Intelligence, including changes and improvements. The unveiled software and features are expected to be available for legacy hardware in the fall, coinciding with the next iPhone launch.
The Nasdaq Composite is now up 0.40%, while Apple stock is gaining 0.35%.
Easing Inflation
Inflation showed signs of easing in May, with the New York Fed Survey of Consumer Expectations index falling to 3.2%—a 0.4 percentage point drop from April levels. This improvement follows progress made by the Trump administration with U.S. trade partners.
The Nasdaq Composite is up 0.43%.
Wall Street Cautious on MCD
Morgan Stanley has turned more cautious on fast-food giant McDonald’s (NYSE: MCD), downgrading shares to an “equal weight” rating from “overweight,” citing “structural pressures on fast food.” The Wall Street firm lowered the price target by $5 to $324 per share. MCD stock is down 2% today.
This article will be updated throughout the day, so check back often for more daily updates.
Technology stocks are mostly higher today, setting a positive tone for the broader markets. U.S. and Chinese officials are expected to restart trade discussions today in Europe. Big Tech stock Apple (Nasdaq: AAPL) is gearing up for its developer conference, called WWDC, today, featuring a keynote speech from CEO Tim Cook. The markets will be listening for any advancements on AI innovation.
The three major stock market averages are higher out of the gate, with the Dow Jones Industrial Average, Nasdaq Composite and S&P 500 all posting gains. All sectors of the economy are higher as sentiment looks up to start the week.
The S&P 500 is trading back above the psychologically important 6,000 level, powered in part by chip stocks including Advanced Micro Devices (Nasdaq: AMD), which is tacking on 3.4% today. While tech as a sector is moving higher, one Magnificent 7 stock being left out of the gains is Tesla (Nasdaq: TSLA), which is down 3.9%. Wall Street analysts downgraded the EV stock due to the distraction of tensions between CEO Elon Musk and President Trump.
On the economic front, the latest inflation data is expected mid-week when the latest Consumer Price Index and Producer Price Index results for May will be revealed.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 39 (+0.09%)
Nasdaq Composite: Up 23.50 (+0.11%)
S&P 500: Up 9 (+0.15)
Market Movers
Meta Platforms (Nasdaq: META) is in discussions to potentially back AI startup Scale AI with a $10 billion-plus investment, according to a Bloomberg report.
Archer Aviation (NYSE: ACHR) is gaining 5% today as its piloted flight program gains momentum in the U.S. and UAE markets.
Quantum computing stock IonQ (NYSE: IONQ) is gaining 3% after announcing a deal to acquire London’s Oxford Ionics in a billion-dollar transaction.
Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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