Strong performance from Dow Jones Industrial Average component company Nvidia (Nasdaq: NVDA) helped to drive the index higher Tuesday. Nvidia stock gained 2.8% on the day, and the DIA (Diamonds) ETF closed up 0.5% at 425.93.
Piper Sandler lowered its price target on UnitedHealth (NYSE: UNH) stock to $353 citing “considerable execution risk” and warning the company has a 3-year turnaround ahead of it.
Ford Motor Company (NYSE: F) reports its May U.S. sales increased 16.3% to 220,959 vehicles. EV sales were 29,442, up 10.7% year over year, and internal combustion vehicle sales were 191,517, up 17.2%.
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The SPDR Dow Jones Industrial Average ETF Trust (DIA) (NYSEMKT: DIA) opened down 0.1% this morning after the Organisation for Economic Co-operation and Development lowered its growth outlook for the U.S. economy. According to OECD, the US economy that grew 2.8% in 2024 will slow to only 1.6% growth this year, then slow again to 1.5% in 2026.
Global growth forecasts are about twice as fast: 3.3% in 2025, and 2.9% in 2026 — so no wonder investors aren’t happy with the U.S. news!
At the same time, Constellation Energy (Nasdaq: CEG | CEG Price Prediction) investors are very happy today. The nuclear power utility just announced it has signed a 20-year deal to supply Meta (Nasdaq: META) with 1.1 gigawatts of nuclear energy annually for the latter’s artificial intelligence server farms. Constellation stock is up about 7% on the news.
Investors in Dollar General (NYSE: DG) are another group that is happy today. Stock in the five-and-dime chain operator opened 10% higher after reporting earnings and sales beats this morning. Dollar General reported $1.78 per share in profit on $10.4 billion in Q1 sales, both higher than analysts had forecast.
Returning to bad news, Jefferies just downgraded miner Rio Tinto (NYSE: RIO) stock to hold on worries over “geopolitical factors, capital allocation and capex risks, strategic risks, and, at the margin, valuation.”
In other industrials news, Itau BBA downgraded Cemex (NYSE: CX) to market perform with a $7.50 price target.
In healthcare, Berenberg cut GlaxoSmithKline (NYSE: GSK) stock to hold, citing investor worries over “2028+ HIV patent expiry fears.”
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Joel South covers large-cap stocks, dividend investing, and major market trends, with a focus on earnings analysis, valuation, and turning complex data into actionable insights for investors.
He brings more than 15 years of experience as an investor and financial journalist, including 12 years at The Motley Fool, where he served as an investment analyst, Bureau Chief, and later led the Fool.com investing news desk. He has also co-hosted an investing podcast and appeared across TV and radio discussing market trends.
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