Former Federal Reserve Chairman Ben Bernanke believes the central bank should operate with greater transparency. The stock market is holding its gains, with all three of the major stock market averages now trading higher.
Consumer sentiment took a hit in May, declining as Americans faced a one-two punch of tariff uncertainty and inflation. The University of Michigan Sentiment index came in at a reading of 50.8 compared with a more sanguine 52.2 in April, preliminary data shows. The results, which were gathered prior to the U.S. and Beijing trade deal progress, also revealed consumer inflation expectations are rising in both the short-term and long-term views.
As of mid-morning trading, the tech-heavy Nasdaq Composite is on pace for a 6.8% gain over the past five trading sessions. The S&P 500 is looking to tack on 4.7% as it makes its way into positive territory for 2025. The Dow Jones Industrial Average is headed for a 2.6% weekly advance.
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The markets are mixed out of the gate as stocks attempt to close this data-filled week on a positive note. After starting the week with a tariff-relief-fueled rally and signs of cooling inflation in the economy, stocks finally have a couple of tailwinds. President Trump indicated that he plans to reveal the latest tariff rates in the weeks to come.
Technology stocks are mostly higher today, lifting the Nasdaq Composite to slight gains following yesterday’s decline. The S&P 500 is eyeing five straight days of gains if it manages to reach today’s finish line in the green. The Dow Jones Industrial Average is off to a slow start, but small-cap stocks are moving higher.
Hereās a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 82.42 (-0.19%)
Nasdaq Composite: Up 40.92 (+0.24%)
S&P 500: Up 3.82 (+0.05%)
AI and cloud stock Advanced Micro Devices (Nasdaq: AMD | AMD Price Prediction) is extending this week’s rally. Analyst firm Barclays has lifted its price target on AMD to $130 per share from $110 while maintaining an “overweight” rating. The analyst cited AMD’s new deal with Saudi Arabia’s Humain as the catalyst for the upgrade.
Super Micro Computer (Nasdaq: SMCI) is gaining 5.6% on the day after announcing a new partnership with DataVolt to “build hyperscale AI campuses” in Saudi Arabia to start.
Archer Aviation (NYSE: ACHR) is gaining 10% on an Olympic Games taxi deal.
Novo Nordisk (NYSE: NVO), the maker of the weight loss drug Wegovy, fell as much as 5% amid an executive shakeup. CEO Lars Fruergaard Jorgensen is stepping down as the company faces a battered share price and stiff competition in the weight loss drug market.
Semiconductor stock Applied Materials (Nasdaq: AMAT) is spiraling by 6.3% today on weakening margins.
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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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