The Federal Reserve is gearing up to unveil the results of this year’s financial institution stress tests in the days ahead. These crucial assessments are designed to gauge how nearly two dozen major banks would withstand the seismic shocks of a financial meltdown, including the potential for an economic recession. Financial stocks are up 0.53% today as a sector.
The SPY ETF is now up 0.11%.
According to a report in The Wall Street Journal, the U.S. is seeking to lift waivers that have allowed China to harness American technology. For example, Taiwan Semi is entitled to provisions allowing it to ship processors to Beijing without having to jump through the usual regulatory hoops. TSM’s U.S.-listed shares are under pressure, falling 1.5% today.
The SPY is up 0.11% as of late-morning trading.
While the markets didn’t receive the gift of an interest rate cut in June, there could be one just around the corner. Fed Governor Christopher Waller is making the speaking rounds today and tipped his hand to a possible interest rate cut materializing as early as July, given the backdrop of a cooling inflationary economy. President Trump predicts a rate cut would be like “rocket fuel” to the markets.
The SPY is currently up 0.15%.
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The markets are striving to close the week on an upbeat note after gaining clarity on interest rates and a possible pause in the Middle East chaos. The White House remains hopeful that negotiations with Iran remain a possibility, giving the markets reason for cheer. All three major stock market averages kicked off the session in positive territory, including a 0.23% gain in the SPDR S&P 500 ETF (SPY). Most sectors of the economy are advancing today, with energy stocks on top as crude oil prices climb amid the heightened geopolitical backdrop.
Big Tech names are participating in today’s gains. Amazon (Nasdaq: AMZN | AMZN Price Prediction) is up 0.75%, as the e-commerce titan teams up with SK Group to funnel $5 billion into an AI-powered data center project in South Korea. For those watching closely, Tesla (Nasdaq: TSLA) is recouping some of its recent losses, jumping 2.5% today. While the S&P 500 is headed for a slight weekly decline, the broader market index is up nearly 2% year-to-date.
Dow Jones Industrial Average: Up 108.47 (+0.26%)
Nasdaq Composite: Up 19.11 (+0.10%)
S&P 500: Up 12.24 (+0.20%)
Professional services firm Accenture (NYSE: ACN) finds itself lagging today’s gains, with its stock down 8% after quarterly results revealed a softening in booking activity. While Accenture’s revenue did surpass analyst estimates, the markets appear to be focusing on the less favorable aspects of the report.
CarMax (NYSE: KMX) is heading higher, up 2.7%. The used car retailer’s stock is benefiting from an uptick in demand for pre-owned vehicles, particularly as the broader automotive sector navigates ongoing tariff pressures.
Kroger (NYSE: KR) has advanced 5.6% today following the grocery retailer’s mixed first-quarter earnings report.
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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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