All eyes will be on AI leader Nvidia (Nasdaq: NVDA) next week, as the company prepares to release its highly anticipated Q1 results on Wednesday, May 28. Despite a 1% dip year-to-date in NVDA stock, the company’s underlying fundamentals remain strong based on its most recent performance.
Most Wall Street analysts maintain a buy rating on the stock, projecting an average 12-month price target of $164, a considerable upside from current levels of $132. Nvidia’s upcoming Q1 report is expected to shed light on the impact of tariffs implemented in early 2025. This follows strong Q4 results where the company surpassed Wall Street estimates on both revenue and earnings. At the time, Nvidia CEO Jensen Huang stated,
“AI is advancing at light speed as agentic AI and physical AI set the stage for the next wave of AI to revolutionize the largest industries.”
The SPY ETF is down 0.95% at last check.
Wedbush analyst Dan Ives has questioned President Trump’s proposed tariff on Apple (Nasdaq: AAPL) iPhones, dismissing the idea as implausible. “We believe the concept of Apple producing iPhones in the [U.S.] is a fairy tale that is not feasible,” Ives stated in a report. Apple now faces the risk of tariffs at a minimum of 25% on iPhones manufactured outside the USA. This development comes as Apple has recently indicated a potential shift in iPhone production from China to India. Apple stock is down 2.5% today, with the SPY lower by 0.83%.
Chicago Fed President Austan Goolsbee warned Friday that President Donald Trump’s latest tariff moves have entangled policy decisions and likely pushed back any interest rate changes, stating on CNBC: “Everything’s always on the table. But I feel like the bar for me is a little higher for action in any direction while we’re waiting to get some clarity.”
Live coverage has ended. The full story is below.
This article will be updated throughout the day, so check back often for more daily updates.
The markets are deepening their losses this Friday morning, with all three major stock market averages down by at least 1% right out of the gate. As the week draws to a close, investors are bracing for a negative finish after President Trump’s threat to impose a steep 50% tariff on the EU, potentially taking effect in the coming days. The SPY ETF is down 0.85% as of mid-morning trading. The S&P 500 is on pace for a 2.7% decline this week.
The Dow Jones Industrial Average is reeling by over 400 points, while the tech-heavy Nasdaq Composite and S&P 500 are each shedding approximately 1% today. Most economic sectors are trading lower, with consumer discretionary and technology stocks seeing the steepest declines. Treasury yields are falling as the trade war reignites, capping off a roller coaster week for the bond market. Volatility has also returned to the stock market, clearly evidenced by a 25% surge in the CBOE Volatility Index (VIX).
Additionally, Apple (Nasdaq: AAPL | AAPL Price Prediction) finds itself in the crosshairs, with President Trump also cautioning that iPhones manufactured outside the U.S. could face heavy tariffs, pushing Apple stock down 2% today. In a positive note for the Magnificent Seven, popular Wedbush analyst Dan Ives is bullish on Tesla (Nasdaq: TSLA), having just lifted his price target on the EV maker to $500, indicating a whopping 49% upside potential, accompanied by an “outperform” rating.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 327.46 (-0.78%)
Nasdaq Composite: Down 231.88 (-1.2%)
S&P 500: Down 56.14 (-0.96%)
Nuclear stocks are defying the downward trend today, gaining ground as the Trump administration signals regulatory tailwinds for this energy segment. Companies including Oklo (NYSE: OKLO), NuScale (NYSE: SMR), and Constellation Energy (Nasdaq: CEG) are all advancing, led by a double-digit percentage gain for OKLO.
Quantum Computing stock IonQ (NYSE: IONQ) fell as much as 4.7% today but is off its session lows following yesterday’s rally that saw its share price close above $45.
Intuit (NYSE: INTU) is gaining 8.6% today after reporting its quarterly earnings results.
Deckers (NYSE: DECK) is falling 21.7% after reporting earnings and being downgraded on Wall Street.
Contact [email protected] for any questions or corrections.
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.
This article will be updated throughout the day, so check back often for more daily updates. The markets are in freefall on Friday, with all three of the major stock market averages lower by…
This article will be updated throughout the day, so check back often for more daily updates. A sharp sell-off gripped the markets this Friday morning, with all three major stock market averages surrendering ground.…
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…
Another day, another market sell-off. The markets are fearful amid President Trump’s threat of yet more tariffs and the possibility of an economic recession looming. Renewed inflation fears after wholesale inflation prices stayed flat…
This article will be updated throughout the day, so check back often for more daily updates. The markets are kicking off the month of June as a mixed bag, with technology stocks moving higher…
This article will be updated throughout the day, so check back often for more daily updates. The markets are seeing signs of optimism for trade-deal progress, sending stocks higher across the board out of…
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…
The markets ran out of steam after last week’s rally but have come off their worst levels of the session. With tech stocks pressuring the Nasdaq Composite lower, the Dow Jones Industrial Average has…
The markets are responding to the tariff escalation and recessionary fears, resulting in a mixed bag out of the gate. The Nasdaq Composite and S&P 500 are managing modest gains while the Dow Jones…
