Analysts at Wall Street firm Citigroup are bullish on Magnificent Seven stock Meta Platforms (Nasdaq: META). The firm increased its price target on Meta stock by $113 to $803 per share with a “buy” rating attached. reflecting upside potential of 13.5%. Meta stock is up 1.3% today.
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Fed Chairman Jerome Powell in testimony on Capitol Hill today said that the U.S. economy is not facing a recession. However, he does expect inflation to creep up once again, causing policymakers to hold back on cutting interest rates so far in 2025. Meanwhile, Fed officials have been making the speaking rounds of late and hinting toward a rate cut in July. The Nasdaq Composite is now up 1.2%.
JPMorgan traders are touting the bull case for the stock market now that a ceasefire has seemingly been reached between Israel and Iran. They wrote in a note that “it’s time to get bulled up, again” and suggested that the market is poised to march to fresh all-time highs.
The Nasdaq Composite remains higher by 1% this morning.
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This article will be updated throughout the day, so check back often for more daily updates.
The markets are displaying a sense of optimism this morning on reports of an easing of Middle East tensions for now. President Trump has seemingly delivered a ceasefire between Israel and Iran though signs of missile attacks by Israel overnight have inserted doubts. Nevertheless, all three of the major stock market averages are advancing, including a 1.1% gain in the tech-heavy Nasdaq Composite.
With technology stocks rising, Big Tech companies are seeing their values balloon. As pointed out by Evan on X, the combined market caps of the three biggest listed companies on the planet – Microsoft (Nasdaq: MSFT | MSFT Price Prediction), Nvidia (Nasdaq: NVDA) and Apple (Nasdaq: AAPL) – has now exceeded $10 trillion.
Home prices rose 2.7% in the 12-month stretch leading up to April to its slowest pace in two years as the impact of lofty mortgage rates took a toll. Results are down from a 3.4% increase in March.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 267.16 (+0.63%)
Nasdaq Composite: Up 199.43 (+1.02%)
S&P 500: Up 41.96 (+0.70%)
Roth Capital has upgraded shares of gaming stock Electronic Arts (Nasdaq: EA) to a “buy” rating on a positive outlook for growth. The stock is up 1%.
In the telehealth segment, Teladoc Health (NYSE: TDOC) is tacking on 1% while Hims & Hers (NYSE: HIMS) is recouping some of its recently lost ground with a 2.4% gain.
Uber Technologies (NYSE: UBER) is up 4.9% today as it rides the bullish autonomous driving wave.
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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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