The War of Revision Is Coming
A Chinese invasion of Taiwan 'could be imminent,' Defense Secretary Pete Hegseth warned last week at the Shangri-La Dialogue in Singapore.
'Every day you see it,' Mr. Hegseth said. 'China's military harasses Taiwan. These activities have been paired with China's rapid military modernization and buildup—including huge investments in nuclear weapons, hypersonics and amphibious assault capabilities.'
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Yahoo
an hour ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq edge higher after big ADP jobs miss
US stocks inched higher on Wednesday as Wall Street digested a sharp slowdown in private-sector hiring growth, with one eye on prospects for a US-China trade talks as a steel tariff hike kicked in. The S&P 500 (^GSPC) rose about 0.2%, while the Dow Jones Industrial Average (^DJI) added over 0.1%. The tech-heavy Nasdaq Composite (^IXIC) gained more than 0.2% to build on the major indexes strong start to the week. Stocks are trying for a third day in the green after investors welcomed unexpected signs that the labor market is holding up in the face of President Trump's tariff escalation. Those hopes got a reality check on Wednesday, however, as the ADP National Employment Report showed private-sector hiring growth fell sharply last month. Private payrolls increased by just 37,000, the lowest in over two years and well below expectations. Trump lashed out at Jerome Powell after seeing the report early Wednesday, urging the Federal Reserve Chair to lower interest rates. "He is unbelievable!!!" Trump posted. Overnight, Trump's Tuesday order doubling tariffs on steel and aluminum import to 50% came into effect, with only the UK spared the jump in duties on Wednesday. Meanwhile, Wednesday is deadline day for trading partners to make "best offers" for a deal to fend off "reciprocal" tariff hikes scheduled for July. Read more: The latest on Trump's tariffs Optimism for a US-China trade pact dimmed after Trump called President Xi "extremely hard to make a deal with" in a post to social media early Wednesday morning. The Geneva tariff truce between the two has appeared increasingly fragile amid clashes over issues such as chip exports, rare earth supplies, Taiwan, and visas. US stocks inched higher on Wednesday as Wall Street digested a sharp slowdown in private-sector hiring growth, with one eye on prospects for a US-China trade talks as a steel tariff hike kicked in. The S&P 500 (^GSPC) rose about 0.2%, while the Dow Jones Industrial Average (^DJI) added over 0.1%. The tech-heavy Nasdaq Composite (^IXIC) gained more than 0.2% to build on the major indexes strong start to the week. On Wednesday, data from ADP showed private payrolls grew by just 37,000 in May, far fewer than the 114,000 expected by economists and below the 60,000 new jobs added in April. This marked the smallest increase in private payrolls since March 2023. "The weak numbers we're seeing now does not point to a labor market that's collapsing, but there is hiring hesitancy," ADP chief economist Nela Richardson said on a call with reporters. President Trump posted about the numbers on Truth Social shortly after the release. "ADP NUMBER OUT!!! 'Too Late' Powell must now LOWER THE RATE," Trump posted. "He is unbelievable!!! Europe has lowered NINE TIMES!" Nvidia (NVDA) stock advanced 0.5% in premarket trading, adding to its $1 trillion rally that saw it surpass Microsoft (MSFT) as the world's most valuable company by market capitalization. Nvidia's market cap stands at $3.444 trillion following a more than 50% rally in May, compared to Microsoft's valuation of $3.441 trillion. The stock has gained more than 4% since reporting first quarter earnings last week. Nvidia is scheduled to present at the BofA Securities Global Technology Conference on Wednesday, which could prompt additional moves. Read more here. Dollar Tree (DLTR) reported first quarter revenue and earnings today that beat analysts' expectations but said it sees a big hit to second quarter results due to tariffs. The company forecast adjusted profit to be down 45% to 50% from a year ago in the second quarter due to tariff volatility and price hikes. However, it expects profits to pick back up in the second part of the year. Dollar Tree's earnings report follows results from Dollar General (DG) yesterday that beat estimates and included an annual sales forecast raise. Dollar Tree maintained its annual sales outlook and raised its earnings per share outlook to a range of $5.15 to $5.65. Dollar Tree stock fell 0.5% in premarket trading on Wednesday after bouncing back and forth between positive and negative territory. Read more here. Earnings: ChargePoint (CHPT), Dollar Tree (DLTR), Five Below (FIVE), MongoDB (MDB) Economic data: MBA Mortgage Applications (week ending May 30); ADP employment change (May); S&P Global US services PMI (May final); S&P Global US Composite PMI (May final); ISM Services index (May); Federal Reserve Beige Book released Here are some of the biggest stories you may have missed overnight and early this morning: Apple bulls and bears don't see tariffs changing the story Trump calls Xi 'extremely hard to make a deal with' Michael Saylor's bitcoin imitators are multiplying fast Higher US metals tariffs kick in as deadline for 'best offers' arrives Tariffs are hammering an American indulgence — snacks Trump obscures Medicaid cuts in bid to pass massive tax bill Tesla's German sales fall 36% as slump builds Tesla's UK car sales drop over 45% in May, New AutoMotive early data shows When it comes to Apple stock both the bull and the bear cases are unfazed by tariffs, despite the fact these levies and presidential threats could deflate the company, bull and bear arguments tend to focus on the tech company's well established products and competitor advantage. Despite the political landscape changing for Apple CEO Tim Cook, for Wall Street the story remains the same. The bull case is focused on strong earnings, a legacy built on underpromising and overdelivering. Delivering stable results and always managing expectations. But this may be hard to see now. My colleague, Yahoo Finance's senior reporter Hamza Shaban looks at why Apple bull and bear cases don't see tariffs changing the story. Jets are taking center stage as countries vie for President Trump's attention — and China could be the latest, with a potential Airbus ( EADSY) deal. Chinese airlines are considering placing an order for as many as 500 Airbus planes to coincide with a visit by European leaders to Beijing in July, sources told Bloomberg. Deals for US rival Boeing's (BA) planes have emerged as the US's favored bargaining chip in trade discussions. The spotlight fell on the gambit after Trump's acceptance of a $400 million luxury Boeing jet from the Qatari royal family in May, for use in the Air Force One fleet. Though China's Airbus negotiations are said to be fluid and could fall through, the European jet maker's stock rose as much as 4% in Paris. Meanwhile, shares of Boeing hovered below the flat line. Bloomberg reports: Read more here. Dozens of publicly traded companies, a media firm controlled by President Trump's family, and meme stock poster child GameStop (GME) are all piling into a bet that Michael Saylor used to turn a business intelligence software firm into a bitcoin juggernaut called Strategy (MSTR). Yahoo Finance's David Hollerith and Laura Bratton report: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: CrowdStrike (CRWD) stock fell over 6% before the bell on Wednesday after the technology company forecast Q2 earnings below estimates, indicating weaker government spending on cybersecurity products. HPE (HPE) beat Wall Street estimates for second-quarter revenue and profit on Tuesday, due to strong demand for its artificial-intelligence servers and hybrid products. The groups stock price was up 5% before the bell on Wednesday. Robinhood (HOOD) stock rose over 1% in premarket trading on Wednesday. Nearly four years after its much-hyped debut, Robinhood Markets Inc. has finally seen its shares hit a fresh record as cryptocurrency markets rally. Robinhood's stock rose over 5% on Tuesday and closed at $71.72, beating its previous high of $70.39, which was set days after the online brokerage's IPO. Wells Fargo (WFC) shares were up 3% before the bell today after the Federal Reserve a major restriction on the investment bank, meaning it will no longer have to operate under a $1.95T asset cap. Despite global unrest, trade war threats and persistently sluggish demand in China, investors are clamoring for a piece of the stock action in Hong Kong as valuations are still attractive. Bloomberg reports: Read more here. Stock in Toyota Industries (6201.T) sank over 12% late Tuesday after an attempt to take the company private failed to meet investor expectations. A ¥4.7 trillion ($33 billion) deal offered ¥16,300 yen per share, well below Tuesday's close of ¥18,400. Parent company Toyota Motor Corporation (TM) has been trying to take the forklifts, engines, and auto parts manufacturer Toyota Industries off the stock market under pressure from government regulators and investors to pull apart entwined company structures. Toyota's tender offer drew criticism as it "undermines" minority shareholders. According to Reuters, the offer values the buyout at $26 billion, with the remaining financing structured through loans and preferred share investments. If the deal goes through a new company will be established. Toyota Motor will invest around ¥700 billion in non-voting shares, while its real estate arm, Toyota Fudosan, will contribute ¥180 billion. Chairman Akio Toyoda plans a ¥1 billion personal investment. US stocks inched higher on Wednesday as Wall Street digested a sharp slowdown in private-sector hiring growth, with one eye on prospects for a US-China trade talks as a steel tariff hike kicked in. The S&P 500 (^GSPC) rose about 0.2%, while the Dow Jones Industrial Average (^DJI) added over 0.1%. The tech-heavy Nasdaq Composite (^IXIC) gained more than 0.2% to build on the major indexes strong start to the week. On Wednesday, data from ADP showed private payrolls grew by just 37,000 in May, far fewer than the 114,000 expected by economists and below the 60,000 new jobs added in April. This marked the smallest increase in private payrolls since March 2023. "The weak numbers we're seeing now does not point to a labor market that's collapsing, but there is hiring hesitancy," ADP chief economist Nela Richardson said on a call with reporters. President Trump posted about the numbers on Truth Social shortly after the release. "ADP NUMBER OUT!!! 'Too Late' Powell must now LOWER THE RATE," Trump posted. "He is unbelievable!!! Europe has lowered NINE TIMES!" Nvidia (NVDA) stock advanced 0.5% in premarket trading, adding to its $1 trillion rally that saw it surpass Microsoft (MSFT) as the world's most valuable company by market capitalization. Nvidia's market cap stands at $3.444 trillion following a more than 50% rally in May, compared to Microsoft's valuation of $3.441 trillion. The stock has gained more than 4% since reporting first quarter earnings last week. Nvidia is scheduled to present at the BofA Securities Global Technology Conference on Wednesday, which could prompt additional moves. Read more here. Dollar Tree (DLTR) reported first quarter revenue and earnings today that beat analysts' expectations but said it sees a big hit to second quarter results due to tariffs. The company forecast adjusted profit to be down 45% to 50% from a year ago in the second quarter due to tariff volatility and price hikes. However, it expects profits to pick back up in the second part of the year. Dollar Tree's earnings report follows results from Dollar General (DG) yesterday that beat estimates and included an annual sales forecast raise. Dollar Tree maintained its annual sales outlook and raised its earnings per share outlook to a range of $5.15 to $5.65. Dollar Tree stock fell 0.5% in premarket trading on Wednesday after bouncing back and forth between positive and negative territory. Read more here. Earnings: ChargePoint (CHPT), Dollar Tree (DLTR), Five Below (FIVE), MongoDB (MDB) Economic data: MBA Mortgage Applications (week ending May 30); ADP employment change (May); S&P Global US services PMI (May final); S&P Global US Composite PMI (May final); ISM Services index (May); Federal Reserve Beige Book released Here are some of the biggest stories you may have missed overnight and early this morning: Apple bulls and bears don't see tariffs changing the story Trump calls Xi 'extremely hard to make a deal with' Michael Saylor's bitcoin imitators are multiplying fast Higher US metals tariffs kick in as deadline for 'best offers' arrives Tariffs are hammering an American indulgence — snacks Trump obscures Medicaid cuts in bid to pass massive tax bill Tesla's German sales fall 36% as slump builds Tesla's UK car sales drop over 45% in May, New AutoMotive early data shows When it comes to Apple stock both the bull and the bear cases are unfazed by tariffs, despite the fact these levies and presidential threats could deflate the company, bull and bear arguments tend to focus on the tech company's well established products and competitor advantage. Despite the political landscape changing for Apple CEO Tim Cook, for Wall Street the story remains the same. The bull case is focused on strong earnings, a legacy built on underpromising and overdelivering. Delivering stable results and always managing expectations. But this may be hard to see now. My colleague, Yahoo Finance's senior reporter Hamza Shaban looks at why Apple bull and bear cases don't see tariffs changing the story. Jets are taking center stage as countries vie for President Trump's attention — and China could be the latest, with a potential Airbus ( EADSY) deal. Chinese airlines are considering placing an order for as many as 500 Airbus planes to coincide with a visit by European leaders to Beijing in July, sources told Bloomberg. Deals for US rival Boeing's (BA) planes have emerged as the US's favored bargaining chip in trade discussions. The spotlight fell on the gambit after Trump's acceptance of a $400 million luxury Boeing jet from the Qatari royal family in May, for use in the Air Force One fleet. Though China's Airbus negotiations are said to be fluid and could fall through, the European jet maker's stock rose as much as 4% in Paris. Meanwhile, shares of Boeing hovered below the flat line. Bloomberg reports: Read more here. Dozens of publicly traded companies, a media firm controlled by President Trump's family, and meme stock poster child GameStop (GME) are all piling into a bet that Michael Saylor used to turn a business intelligence software firm into a bitcoin juggernaut called Strategy (MSTR). Yahoo Finance's David Hollerith and Laura Bratton report: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: CrowdStrike (CRWD) stock fell over 6% before the bell on Wednesday after the technology company forecast Q2 earnings below estimates, indicating weaker government spending on cybersecurity products. HPE (HPE) beat Wall Street estimates for second-quarter revenue and profit on Tuesday, due to strong demand for its artificial-intelligence servers and hybrid products. The groups stock price was up 5% before the bell on Wednesday. Robinhood (HOOD) stock rose over 1% in premarket trading on Wednesday. Nearly four years after its much-hyped debut, Robinhood Markets Inc. has finally seen its shares hit a fresh record as cryptocurrency markets rally. Robinhood's stock rose over 5% on Tuesday and closed at $71.72, beating its previous high of $70.39, which was set days after the online brokerage's IPO. Wells Fargo (WFC) shares were up 3% before the bell today after the Federal Reserve a major restriction on the investment bank, meaning it will no longer have to operate under a $1.95T asset cap. Despite global unrest, trade war threats and persistently sluggish demand in China, investors are clamoring for a piece of the stock action in Hong Kong as valuations are still attractive. Bloomberg reports: Read more here. Stock in Toyota Industries (6201.T) sank over 12% late Tuesday after an attempt to take the company private failed to meet investor expectations. A ¥4.7 trillion ($33 billion) deal offered ¥16,300 yen per share, well below Tuesday's close of ¥18,400. Parent company Toyota Motor Corporation (TM) has been trying to take the forklifts, engines, and auto parts manufacturer Toyota Industries off the stock market under pressure from government regulators and investors to pull apart entwined company structures. Toyota's tender offer drew criticism as it "undermines" minority shareholders. According to Reuters, the offer values the buyout at $26 billion, with the remaining financing structured through loans and preferred share investments. If the deal goes through a new company will be established. Toyota Motor will invest around ¥700 billion in non-voting shares, while its real estate arm, Toyota Fudosan, will contribute ¥180 billion. Chairman Akio Toyoda plans a ¥1 billion personal investment. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
an hour ago
- Yahoo
Private employers add fewest workers in over 2 years as 'hiring hesitancy' hits a slowing US labor market
Private payroll additions tumbled in May as weak consumer sentiment and trade policy uncertainty weighed on hiring. On Wednesday, data from ADP showed private payrolls grew by just 37,000 in May, far fewer than the 114,000 expected by economists and below the 60,000 new jobs added in April. This marked the smallest increase in private payrolls since March 2023. "The weak numbers we're seeing now does not point to a labor market that's collapsing, but there is hiring hesitancy," ADP chief economist Nela Richardson said on a call with reporters. The survey encapsulated the week of May 12, meaning it included initial reaction to the US-China 90-day tariff pause. Additionally, Trump's baseline tariffs of 10% on various countries were in effect. Richardson said trade policy uncertainty is just one of several factors weighing on hiring, with weak consumer sentiment also potentially weighing on labor market activity. "It's like driving through fog for some of our firms here," Richardson told Yahoo Finance during the call with reporters. "When you're in that situation, you can't really stop, but you might slow down. And so that's what we're seeing" She pointed to strong wage growth and low layoffs as points of strength in the labor market. ADP's May data showed wages for workers that changed jobs grew 7% while wages for those who stayed in the same job grew 4.5%. Both were unchanged from the month prior. "The key takeaway is a slowdown in hiring momentum, but still a labor market that's in good enough shape to support consumer spending and provide the Fed the latitude they've had on rates while it continues to decipher its inflation outlook," Richardson said. Richardson added that while May's data was weighed down by economic uncertainty "fog," it isn't a clear sign the labor market is taking a turn for the worse. "I do think that once the uncertainty clears a bit, you'll see more activity in the labor market," Richardson said. President Trump posted about the numbers on Truth Social shortly after the release, calling for Federal Reserve chair Jerome Powell to cut interest rates. "ADP NUMBER OUT!!! 'Too Late' Powell must now LOWER THE RATE," Trump posted. "He is unbelievable!!! Europe has lowered NINE TIMES!" Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures meander after big ADP jobs miss
US stock futures wavered on Wednesday as Wall Street digested a sharp slowdown in private-sector hiring growth, with one eye on prospects for a US-China trade talks as a steel tariff hike kicked in. S&P 500 futures (ES=F) added roughly 0.1%, while those on the Dow Jones Industrial Average (YM=F) were little changed. Contracts on the tech-heavy Nasdaq 100 (NQ=F) also meandered around the flatline. Stocks are trying for a third day in the green as investors have welcomed unexpected signs that the labor market is holding up in the face of President Trump's tariff escalation. Those hopes got a reality check on Wednesday, however, with the ADP National Employment Report showing private-sector hiring growth fell sharply last month. Private payrolls increased by just 37,000, the lowest in over two years and well below expectations. Trump lashed out at Fed Chair Jerome Powell after seeing the report early Wednesday, urging him to lower interest rates. "He is unbelievable!!!" Trump posted. Read more: The latest on Trump's tariffs Overnight, Trump's Tuesday order doubling tariffs on steel and aluminum import to 50% came into effect, with only the UK spared the jump in duties on Wednesday. Meanwhile, Wednesday is deadline day for trading partners to make "best offers" for a deal to fend off "reciprocal" tariff hikes scheduled for July. Hopes for a US-China trade pact dimmed after Trump called President Xi "extremely hard to make a deal with" in a post to social media on Wednesday. The Geneva tariff truce between the two has appeared increasingly fragile amid clashes over issues such as chip exports, rare earth supplies, Taiwan, and visas. On Wednesday, data from ADP showed private payrolls grew by just 37,000 in May, far fewer than the 114,000 expected by economists and below the 60,000 new jobs added in April. This marked the smallest increase in private payrolls since March 2023. "The weak numbers we're seeing now does not point to a labor market that's collapsing, but there is hiring hesitancy," ADP chief economist Nela Richardson said on a call with reporters. President Trump posted about the numbers on Truth Social shortly after the release. "ADP NUMBER OUT!!! 'Too Late' Powell must now LOWER THE RATE," Trump posted. "He is unbelievable!!! Europe has lowered NINE TIMES!" Nvidia (NVDA) stock advanced 0.5% in premarket trading, adding to its $1 trillion rally that saw it surpass Microsoft (MSFT) as the world's most valuable company by market capitalization. Nvidia's market cap stands at $3.444 trillion following a more than 50% rally in May, compared to Microsoft's valuation of $3.441 trillion. The stock has gained more than 4% since reporting first quarter earnings last week. Nvidia is scheduled to present at the BofA Securities Global Technology Conference on Wednesday, which could prompt additional moves. Read more here. Dollar Tree (DLTR) reported first quarter revenue and earnings today that beat analysts' expectations but said it sees a big hit to second quarter results due to tariffs. The company forecast adjusted profit to be down 45% to 50% from a year ago in the second quarter due to tariff volatility and price hikes. However, it expects profits to pick back up in the second part of the year. Dollar Tree's earnings report follows results from Dollar General (DG) yesterday that beat estimates and included an annual sales forecast raise. Dollar Tree maintained its annual sales outlook and raised its earnings per share outlook to a range of $5.15 to $5.65. Dollar Tree stock fell 0.5% in premarket trading on Wednesday after bouncing back and forth between positive and negative territory. Read more here. Earnings: ChargePoint (CHPT), Dollar Tree (DLTR), Five Below (FIVE), MongoDB (MDB) Economic data: MBA Mortgage Applications (week ending May 30); ADP employment change (May); S&P Global US services PMI (May final); S&P Global US Composite PMI (May final); ISM Services index (May); Federal Reserve Beige Book released Here are some of the biggest stories you may have missed overnight and early this morning: Apple bulls and bears don't see tariffs changing the story Trump calls Xi 'extremely hard to make a deal with' Michael Saylor's bitcoin imitators are multiplying fast Higher US metals tariffs kick in as deadline for 'best offers' arrives Tariffs are hammering an American indulgence — snacks Trump obscures Medicaid cuts in bid to pass massive tax bill Tesla's German sales fall 36% as slump builds Tesla's UK car sales drop over 45% in May, New AutoMotive early data shows When it comes to Apple stock both the bull and the bear cases are unfazed by tariffs, despite the fact these levies and presidential threats could deflate the company, bull and bear arguments tend to focus on the tech company's well established products and competitor advantage. Despite the political landscape changing for Apple CEO Tim Cook, for Wall Street the story remains the same. The bull case is focused on strong earnings, a legacy built on underpromising and overdelivering. Delivering stable results and always managing expectations. But this may be hard to see now. My colleague, Yahoo Finance's senior reporter Hamza Shaban looks at why Apple bull and bear cases don't see tariffs changing the story. Jets are taking center stage as countries vie for President Trump's attention — and China could be the latest, with a potential Airbus ( EADSY) deal. Chinese airlines are considering placing an order for as many as 500 Airbus planes to coincide with a visit by European leaders to Beijing in July, sources told Bloomberg. Deals for US rival Boeing's (BA) planes have emerged as the US's favored bargaining chip in trade discussions. The spotlight fell on the gambit after Trump's acceptance of a $400 million luxury Boeing jet from the Qatari royal family in May, for use in the Air Force One fleet. Though China's Airbus negotiations are said to be fluid and could fall through, the European jet maker's stock rose as much as 4% in Paris. Meanwhile, shares of Boeing hovered below the flat line. Bloomberg reports: Read more here. Dozens of publicly traded companies, a media firm controlled by President Trump's family, and meme stock poster child GameStop (GME) are all piling into a bet that Michael Saylor used to turn a business intelligence software firm into a bitcoin juggernaut called Strategy (MSTR). Yahoo Finance's David Hollerith and Laura Bratton report: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: CrowdStrike (CRWD) stock fell over 6% before the bell on Wednesday after the technology company forecast Q2 earnings below estimates, indicating weaker government spending on cybersecurity products. HPE (HPE) beat Wall Street estimates for second-quarter revenue and profit on Tuesday, due to strong demand for its artificial-intelligence servers and hybrid products. The groups stock price was up 5% before the bell on Wednesday. Robinhood (HOOD) stock rose over 1% in premarket trading on Wednesday. Nearly four years after its much-hyped debut, Robinhood Markets Inc. has finally seen its shares hit a fresh record as cryptocurrency markets rally. Robinhood's stock rose over 5% on Tuesday and closed at $71.72, beating its previous high of $70.39, which was set days after the online brokerage's IPO. Wells Fargo (WFC) shares were up 3% before the bell today after the Federal Reserve a major restriction on the investment bank, meaning it will no longer have to operate under a $1.95T asset cap. Despite global unrest, trade war threats and persistently sluggish demand in China, investors are clamoring for a piece of the stock action in Hong Kong as valuations are still attractive. Bloomberg reports: Read more here. Stock in Toyota Industries (6201.T) sank over 12% late Tuesday after an attempt to take the company private failed to meet investor expectations. A ¥4.7 trillion ($33 billion) deal offered ¥16,300 yen per share, well below Tuesday's close of ¥18,400. Parent company Toyota Motor Corporation (TM) has been trying to take the forklifts, engines, and auto parts manufacturer Toyota Industries off the stock market under pressure from government regulators and investors to pull apart entwined company structures. Toyota's tender offer drew criticism as it "undermines" minority shareholders. According to Reuters, the offer values the buyout at $26 billion, with the remaining financing structured through loans and preferred share investments. If the deal goes through a new company will be established. Toyota Motor will invest around ¥700 billion in non-voting shares, while its real estate arm, Toyota Fudosan, will contribute ¥180 billion. Chairman Akio Toyoda plans a ¥1 billion personal investment. On Wednesday, data from ADP showed private payrolls grew by just 37,000 in May, far fewer than the 114,000 expected by economists and below the 60,000 new jobs added in April. This marked the smallest increase in private payrolls since March 2023. "The weak numbers we're seeing now does not point to a labor market that's collapsing, but there is hiring hesitancy," ADP chief economist Nela Richardson said on a call with reporters. President Trump posted about the numbers on Truth Social shortly after the release. "ADP NUMBER OUT!!! 'Too Late' Powell must now LOWER THE RATE," Trump posted. "He is unbelievable!!! Europe has lowered NINE TIMES!" Nvidia (NVDA) stock advanced 0.5% in premarket trading, adding to its $1 trillion rally that saw it surpass Microsoft (MSFT) as the world's most valuable company by market capitalization. Nvidia's market cap stands at $3.444 trillion following a more than 50% rally in May, compared to Microsoft's valuation of $3.441 trillion. The stock has gained more than 4% since reporting first quarter earnings last week. Nvidia is scheduled to present at the BofA Securities Global Technology Conference on Wednesday, which could prompt additional moves. Read more here. Dollar Tree (DLTR) reported first quarter revenue and earnings today that beat analysts' expectations but said it sees a big hit to second quarter results due to tariffs. The company forecast adjusted profit to be down 45% to 50% from a year ago in the second quarter due to tariff volatility and price hikes. However, it expects profits to pick back up in the second part of the year. Dollar Tree's earnings report follows results from Dollar General (DG) yesterday that beat estimates and included an annual sales forecast raise. Dollar Tree maintained its annual sales outlook and raised its earnings per share outlook to a range of $5.15 to $5.65. Dollar Tree stock fell 0.5% in premarket trading on Wednesday after bouncing back and forth between positive and negative territory. Read more here. Earnings: ChargePoint (CHPT), Dollar Tree (DLTR), Five Below (FIVE), MongoDB (MDB) Economic data: MBA Mortgage Applications (week ending May 30); ADP employment change (May); S&P Global US services PMI (May final); S&P Global US Composite PMI (May final); ISM Services index (May); Federal Reserve Beige Book released Here are some of the biggest stories you may have missed overnight and early this morning: Apple bulls and bears don't see tariffs changing the story Trump calls Xi 'extremely hard to make a deal with' Michael Saylor's bitcoin imitators are multiplying fast Higher US metals tariffs kick in as deadline for 'best offers' arrives Tariffs are hammering an American indulgence — snacks Trump obscures Medicaid cuts in bid to pass massive tax bill Tesla's German sales fall 36% as slump builds Tesla's UK car sales drop over 45% in May, New AutoMotive early data shows When it comes to Apple stock both the bull and the bear cases are unfazed by tariffs, despite the fact these levies and presidential threats could deflate the company, bull and bear arguments tend to focus on the tech company's well established products and competitor advantage. Despite the political landscape changing for Apple CEO Tim Cook, for Wall Street the story remains the same. The bull case is focused on strong earnings, a legacy built on underpromising and overdelivering. Delivering stable results and always managing expectations. But this may be hard to see now. My colleague, Yahoo Finance's senior reporter Hamza Shaban looks at why Apple bull and bear cases don't see tariffs changing the story. Jets are taking center stage as countries vie for President Trump's attention — and China could be the latest, with a potential Airbus ( EADSY) deal. Chinese airlines are considering placing an order for as many as 500 Airbus planes to coincide with a visit by European leaders to Beijing in July, sources told Bloomberg. Deals for US rival Boeing's (BA) planes have emerged as the US's favored bargaining chip in trade discussions. The spotlight fell on the gambit after Trump's acceptance of a $400 million luxury Boeing jet from the Qatari royal family in May, for use in the Air Force One fleet. Though China's Airbus negotiations are said to be fluid and could fall through, the European jet maker's stock rose as much as 4% in Paris. Meanwhile, shares of Boeing hovered below the flat line. Bloomberg reports: Read more here. Dozens of publicly traded companies, a media firm controlled by President Trump's family, and meme stock poster child GameStop (GME) are all piling into a bet that Michael Saylor used to turn a business intelligence software firm into a bitcoin juggernaut called Strategy (MSTR). Yahoo Finance's David Hollerith and Laura Bratton report: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: CrowdStrike (CRWD) stock fell over 6% before the bell on Wednesday after the technology company forecast Q2 earnings below estimates, indicating weaker government spending on cybersecurity products. HPE (HPE) beat Wall Street estimates for second-quarter revenue and profit on Tuesday, due to strong demand for its artificial-intelligence servers and hybrid products. The groups stock price was up 5% before the bell on Wednesday. Robinhood (HOOD) stock rose over 1% in premarket trading on Wednesday. Nearly four years after its much-hyped debut, Robinhood Markets Inc. has finally seen its shares hit a fresh record as cryptocurrency markets rally. Robinhood's stock rose over 5% on Tuesday and closed at $71.72, beating its previous high of $70.39, which was set days after the online brokerage's IPO. Wells Fargo (WFC) shares were up 3% before the bell today after the Federal Reserve a major restriction on the investment bank, meaning it will no longer have to operate under a $1.95T asset cap. Despite global unrest, trade war threats and persistently sluggish demand in China, investors are clamoring for a piece of the stock action in Hong Kong as valuations are still attractive. Bloomberg reports: Read more here. Stock in Toyota Industries (6201.T) sank over 12% late Tuesday after an attempt to take the company private failed to meet investor expectations. A ¥4.7 trillion ($33 billion) deal offered ¥16,300 yen per share, well below Tuesday's close of ¥18,400. Parent company Toyota Motor Corporation (TM) has been trying to take the forklifts, engines, and auto parts manufacturer Toyota Industries off the stock market under pressure from government regulators and investors to pull apart entwined company structures. Toyota's tender offer drew criticism as it "undermines" minority shareholders. According to Reuters, the offer values the buyout at $26 billion, with the remaining financing structured through loans and preferred share investments. If the deal goes through a new company will be established. Toyota Motor will invest around ¥700 billion in non-voting shares, while its real estate arm, Toyota Fudosan, will contribute ¥180 billion. Chairman Akio Toyoda plans a ¥1 billion personal investment. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
