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The markets are showing cautious optimism in what could shape up to be a significant week for trade war deals. Treasury Secretary Scott Bessent predicts trade deals could begin to emerge this week or next, potentially paving the way for further gains in the stock market. He also said it’s up to China to de-escalate the retaliatory tariffs between Beijing and the White House.
Earnings season continues to roll on with Big Tech names on the docket to report this week, including Microsoft (Nasdaq: MSFT | MSFT Price Prediction), Amazon (Nasdaq: AMZN), Meta Platforms (Nasdaq: META) and Apple (Nasdaq: AAPL). Last week, Google parent Alphabet (Nasdaq: GOOGL) beat earnings estimates and lifted its quarterly dividend by 5%.
With the S&P 500 now out of dangerous correction territory, the markets are stringing together a winning streak, including a 7.1% advance for the S&P 500 over the past five days. If today’s gains hold, that will bring the broader market index further away from its Liberation Day lows suffered in early April.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 166.49 (+0.39%)
Nasdaq Composite: Down 16.38 (-0.10%)
S&P 500: Up 6.04 (+0.13%)
Market Movers
EV battery stock Albemarle (NYSE: ALB) is tacking on 3.6% in today’s market.
Dividend stock Erie Indemnity (Nasdaq: ERIE) has been volatile of late and has most recently fallen below the $400 threshold after trading handily above that level earlier this month.
Intel (Nasdaq: INTC) is gaining 4% as one of the top performers in the S&P 500 today.
Cruise stocks Carnival (NYSE: CCL) and Norwegian Cruise Lines (NYSE: NCLH) are each up over 3%.
Bank of America has reiterated its “buy” rating on Meta before the company’s quarterly earnings print this week amid optimism that the company will hit its revenue targets.
IBM (NYSE: IBM) is gaining 1.1% after revealing it would pour $150 billion to advance U.S. tech innovation.
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