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Yahoo
2 days ago
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq edge higher in wait for clues on US-China trade talks
US stocks edged higher on Tuesday as renewed US-China trade talks entered their second day after an upbeat initial meeting. The Dow Jones Industrial Average (^DJI) gained 0.2%, while the S&P 500 (^GSPC) rose nearly 0.4%. The tech-heavy Nasdaq Composite (^IXIC) rose 0.4%. The mood is cautious as investors keep a close eye on the trade talks, which restarted in the morning in London. While a deal on access to China's rare earth minerals is the US's priority, negotiators are navigating contentious issues that have fueled a rift between the two trading partners. Any signs of progress will likely be greeted with relief by markets, given switchbacks in President Trump's tariff policy and in US-China relations have fed uncertainty about risks to economic growth worldwide. On Monday, stocks on Wall Street edged higher after White House officials suggested discussions had been productive — though Trump himself cautioned that "China's not easy". Read more: The latest on Trump's tariffs Chinese stocks slid suddenly on Tuesday before the meeting resumed, a bout of volatility that suggested investors aren't confident of success. 'The market is too sensitive,' Fu Shifeng, investment director at Cheng Zhou Investment, told Bloomberg. 'People seem to be speculating that the talks didn't go well.' Meanwhile, a gauge of US small-business optimism came in higher in May — the first rise since September — amid the trade truce with China. But worries about Trump's tax-and-spending megabill stoked uncertainty about the outlook, the NFIB survey found. Investors are now counting down to the release of the May Consumer Price Index (CPI) report on Wednesday. The report will offer fresh insight into the state of inflation amid Trump's evolving trade policy. Analysts expect to see that price pressures accelerated last month. Stocks gained on Tuesday mid-trading as investors awaited new details on the high-level trade talks between the US and China, sending the S&P 500 (^GSPC) just over 100 points away from its all-time closing high. The broad-based index inched up nearly 0.4%, trading at around 6,027, just about 2% away from its February record closing high. The index has rallied more than 20% since hitting its April lows in the aftermath of President Trump's tariff policy unveiling. Trump has since paused and rolled back much of the policy while the US negotiates with individual countries. Gold (GC=F) and silver (SI=F) prices took a breather from their recent rally on Tuesday. Gold retreated less than 0.5% during the session to hover near $3,347 per ounce. Silver hovered near $36 per ounce, its highest level since February 2012. Precious metals have surged higher recently amid uncertainty over President Trump's tariff policy and the continued decline of the US dollar. Bitcoin (BTC-USD) climbed toward new highs on Tuesday, amid a series of tailwinds for the crypto space. The token was trading north of $109,000 each by 8:30 a.m. ET on Tuesday. Bitcoin touched an all-time high just under $112,000 last month. Companies have increasingly been adding bitcoin to their balance sheets in recent months, following in the footsteps of Strategy (MSTR), the largest public corporate holder of the token. "Over time, bitcoin has proven itself to be a better hedge against inflation than many other asset classes, even gold ... adding bitcoin to a corporate treasury seems like a prudent choice," said Elliot Johnson, CEO of the Bitcoin Treasury Corporation. Legislation in Congress that would regulate stablecoins, digital assets backed by the US dollar, has lifted investor optimism over the crypto space. Yahoo Finance's Pras Subramanian reports: Read more here. Stocks edged higher on Tuesday as trade talks between the US and China resumed. The Dow Jones Industrial Average (^DJI) wavered around the flat line. The S&P 500 (^GSPC) rose 0.1%. The tech-heavy Nasdaq Composite (^IXIC) also gained about 0.2%. High-level trade talks in London restarted on Tuesday as investors watched for any signs of progress in the trade negotiations between Washington and Beijing. Meanwhile, bitcoin (BTC-USD) climbed toward new highs on Tuesday, hovering above $109,000 per token. Vaccine stocks were surprisingly resilient after US Health Secretary Robert F. Kennedy Jr. fired all 17 members of the vaccine advisory committee at the Centers for Disease Control and Prevention (CDC) on Monday. Moderna (MRNA) stock fell 0.8% in premarket trading, while shares of Pfizer (PFE) and Merck (MRK) were roughly flat. BioNTech (BNTX) gained 1.4%. The move could create longer lead times for the CDC to review and approve vaccines, and the panel has significant influence over whether insurance companies and Medicaid cover the immunizations. In an op-ed published in the Wall Street Journal on Monday, RFK Jr. stated that he was reconfiguring the panel to restore trust in vaccines. IBM (IBM) stock added 0.8% in premarket trading on Thursday after the company announced it is building the world's first large-scale quantum computer, called Starling, capable of operating without errors. Yahoo Finance's Laura Bratton reports: Read more here. Shares of J.M. Smucker (SJM) are sinking premarket after the food producer forecast full-year profit below Wall Street expectations. Smucker projected adjusted earnings for the year to come in at $9.50 a share, compared to estimates of $10.25, per Bloomberg. It highlights the challenging environment for consumer packaged goods as consumers pull back on spending on items like Jif peanut butter, Milk-Bone pet treats, and Hostess snack cakes. Smucker also noted it would raise prices as tariffs weigh on its coffee business. J.M. Smucker stock fell over 7% following the company's quarterly results. Economic data: NFIB small business optimism (May) Earnings: Academy Sports and Outdoors (ASO), Dave & Buster's (PLAY), GameStop (GME), The J.M. Smucker Company (SJM), Stitch Fix (SFIX) Here are some of the biggest stories you may have missed overnight and early this morning: The labor market is creating new jobs — but maybe not yours Trump says China 'not easy' as trade talks to continue Tuesday IBM takes a big step toward useful quantum computing China stocks drop suddenly in wait for trade talks Big Tech is driving bullish flows in US stocks: Citi Nvidia, HPE to build new supercomputer in Germany Reddit vs. Anthropic: The AI scraping war is heating up again Wary Wall Street positioning leaves room for S&P 500 to rally Here are some top stocks trending on Yahoo Finance in premarket trading: Tesla, Inc. (TSLA) stock rose 2% before the bell on Tuesday, after being hit with 2 downgrades on Monday due to the fallout from CEO Elon Musk and President Trump's dustup. Tesla's robotaxi test is set to take place on June 12 in Austin, Texas. McDonald's (MCD) shares fell over 1% in premarket trading today after analysts at Morgan Stanley downgraded the fast food company on Monday to a Hold from a Buy. Morgan Stanley also cut its price target to $324 from $329. Bloomberg reports: US technology heavyweights have attracted a flurry of bullish bets as optimism around the economic outlook overshadows trade concerns, according to Citigroup Inc. (C) strategists. Long positions in the technology-heavy Nasdaq 100 (^NDX) increased by more than in the S&P 500 (^GSPC) last week, the team led by Chris Montagu wrote in a note. Exposure has been mainly driven by new bullish bets, while short bets steadily declined across indexes, they said. Read more here. Chinese stocks fell on Tuesday ahead of the second day of trade negotiations between the US and China. Investors are cautious as the two biggest economies seek to resolve some contentious issues. Bloomberg News reports: Read more here. When President Trump set off a global stock market slump in April with his package of sweeping new tariffs, small investors across Asia rushed to the US stock market to buy the dip. Now they're backing away, data for May shows. Bloomberg reports: Read more here. Apple (AAPL) is holding its highly anticipated annual developers' conference. Yahoo Finance's Daniel Howley reports from Silicon Valley: Apple on Monday announced sweeping changes to its product ecosystems, including a wide-ranging revamp of its iOS operating system for its iPhones, as well as the software that powers its iPads and Macs. The updates, which the company debuted as part of its WWDC developer event held at its headquarters in Cupertino, Calif., mark the biggest shift in Apple's software design in years. Still, the improvements were light on new AI capabilities at a time when Wall Street is looking for Apple to prove it can compete in the space. ... While Apple showed off a handful of new features for its Apple Intelligence platform, it's unlikely to quell fears that the company is falling behind the likes of Microsoft and Google in the rapidly evolving space. Read more on Apple's announcements here. Stocks gained on Tuesday mid-trading as investors awaited new details on the high-level trade talks between the US and China, sending the S&P 500 (^GSPC) just over 100 points away from its all-time closing high. The broad-based index inched up nearly 0.4%, trading at around 6,027, just about 2% away from its February record closing high. The index has rallied more than 20% since hitting its April lows in the aftermath of President Trump's tariff policy unveiling. Trump has since paused and rolled back much of the policy while the US negotiates with individual countries. Gold (GC=F) and silver (SI=F) prices took a breather from their recent rally on Tuesday. Gold retreated less than 0.5% during the session to hover near $3,347 per ounce. Silver hovered near $36 per ounce, its highest level since February 2012. Precious metals have surged higher recently amid uncertainty over President Trump's tariff policy and the continued decline of the US dollar. Bitcoin (BTC-USD) climbed toward new highs on Tuesday, amid a series of tailwinds for the crypto space. The token was trading north of $109,000 each by 8:30 a.m. ET on Tuesday. Bitcoin touched an all-time high just under $112,000 last month. Companies have increasingly been adding bitcoin to their balance sheets in recent months, following in the footsteps of Strategy (MSTR), the largest public corporate holder of the token. "Over time, bitcoin has proven itself to be a better hedge against inflation than many other asset classes, even gold ... adding bitcoin to a corporate treasury seems like a prudent choice," said Elliot Johnson, CEO of the Bitcoin Treasury Corporation. Legislation in Congress that would regulate stablecoins, digital assets backed by the US dollar, has lifted investor optimism over the crypto space. Yahoo Finance's Pras Subramanian reports: Read more here. Stocks edged higher on Tuesday as trade talks between the US and China resumed. The Dow Jones Industrial Average (^DJI) wavered around the flat line. The S&P 500 (^GSPC) rose 0.1%. The tech-heavy Nasdaq Composite (^IXIC) also gained about 0.2%. High-level trade talks in London restarted on Tuesday as investors watched for any signs of progress in the trade negotiations between Washington and Beijing. Meanwhile, bitcoin (BTC-USD) climbed toward new highs on Tuesday, hovering above $109,000 per token. Vaccine stocks were surprisingly resilient after US Health Secretary Robert F. Kennedy Jr. fired all 17 members of the vaccine advisory committee at the Centers for Disease Control and Prevention (CDC) on Monday. Moderna (MRNA) stock fell 0.8% in premarket trading, while shares of Pfizer (PFE) and Merck (MRK) were roughly flat. BioNTech (BNTX) gained 1.4%. The move could create longer lead times for the CDC to review and approve vaccines, and the panel has significant influence over whether insurance companies and Medicaid cover the immunizations. In an op-ed published in the Wall Street Journal on Monday, RFK Jr. stated that he was reconfiguring the panel to restore trust in vaccines. IBM (IBM) stock added 0.8% in premarket trading on Thursday after the company announced it is building the world's first large-scale quantum computer, called Starling, capable of operating without errors. Yahoo Finance's Laura Bratton reports: Read more here. Shares of J.M. Smucker (SJM) are sinking premarket after the food producer forecast full-year profit below Wall Street expectations. Smucker projected adjusted earnings for the year to come in at $9.50 a share, compared to estimates of $10.25, per Bloomberg. It highlights the challenging environment for consumer packaged goods as consumers pull back on spending on items like Jif peanut butter, Milk-Bone pet treats, and Hostess snack cakes. Smucker also noted it would raise prices as tariffs weigh on its coffee business. J.M. Smucker stock fell over 7% following the company's quarterly results. Economic data: NFIB small business optimism (May) Earnings: Academy Sports and Outdoors (ASO), Dave & Buster's (PLAY), GameStop (GME), The J.M. Smucker Company (SJM), Stitch Fix (SFIX) Here are some of the biggest stories you may have missed overnight and early this morning: The labor market is creating new jobs — but maybe not yours Trump says China 'not easy' as trade talks to continue Tuesday IBM takes a big step toward useful quantum computing China stocks drop suddenly in wait for trade talks Big Tech is driving bullish flows in US stocks: Citi Nvidia, HPE to build new supercomputer in Germany Reddit vs. Anthropic: The AI scraping war is heating up again Wary Wall Street positioning leaves room for S&P 500 to rally Here are some top stocks trending on Yahoo Finance in premarket trading: Tesla, Inc. (TSLA) stock rose 2% before the bell on Tuesday, after being hit with 2 downgrades on Monday due to the fallout from CEO Elon Musk and President Trump's dustup. Tesla's robotaxi test is set to take place on June 12 in Austin, Texas. McDonald's (MCD) shares fell over 1% in premarket trading today after analysts at Morgan Stanley downgraded the fast food company on Monday to a Hold from a Buy. Morgan Stanley also cut its price target to $324 from $329. Bloomberg reports: US technology heavyweights have attracted a flurry of bullish bets as optimism around the economic outlook overshadows trade concerns, according to Citigroup Inc. (C) strategists. Long positions in the technology-heavy Nasdaq 100 (^NDX) increased by more than in the S&P 500 (^GSPC) last week, the team led by Chris Montagu wrote in a note. Exposure has been mainly driven by new bullish bets, while short bets steadily declined across indexes, they said. Read more here. Chinese stocks fell on Tuesday ahead of the second day of trade negotiations between the US and China. Investors are cautious as the two biggest economies seek to resolve some contentious issues. Bloomberg News reports: Read more here. When President Trump set off a global stock market slump in April with his package of sweeping new tariffs, small investors across Asia rushed to the US stock market to buy the dip. Now they're backing away, data for May shows. Bloomberg reports: Read more here. Apple (AAPL) is holding its highly anticipated annual developers' conference. Yahoo Finance's Daniel Howley reports from Silicon Valley: Apple on Monday announced sweeping changes to its product ecosystems, including a wide-ranging revamp of its iOS operating system for its iPhones, as well as the software that powers its iPads and Macs. The updates, which the company debuted as part of its WWDC developer event held at its headquarters in Cupertino, Calif., mark the biggest shift in Apple's software design in years. Still, the improvements were light on new AI capabilities at a time when Wall Street is looking for Apple to prove it can compete in the space. ... While Apple showed off a handful of new features for its Apple Intelligence platform, it's unlikely to quell fears that the company is falling behind the likes of Microsoft and Google in the rapidly evolving space. Read more on Apple's announcements here. 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
2 days ago
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures tread water as US-China trade talks enter second day
US stock futures were stuck in a holding pattern on Tuesday as renewed US-China trade talks entered their second day after an upbeat initial meeting. Futures on the Dow Jones Industrial Average (YM=F), the S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) all wavered around the flat line. The mood is cautious as investors keep a close eye on the trade talks, which restarted in the morning in London. While a deal on access to China's rare earth minerals is the US priority, negotiators are navigating contentious issues that have fueled a rift between the two trading partners. Any signs of progress will likely be greeted with relief by markets, given switchbacks in President Trump's tariff policy and in US-China relations have fed uncertainty about risks to economic growth worldwide. On Monday, stocks on Wall Street edged higher after White House officials suggested discussions had been productive — though Trump himself cautioned that "China's not easy". Read more: The latest on Trump's tariffs Chinese stocks slid suddenly on Tuesday before the meeting resumed, a bout of volatility that suggested investors aren't confident of success. 'The market is too sensitive,' Fu Shifeng, investment director at Cheng Zhou Investment, told Bloomberg. 'People seem to be speculating that the talks didn't go well.' Meanwhile, a gauge of US small-business optimism came in higher in May — the first rise since September — amid the trade truce with China. But worries about Trump's tax-and-spending megabill stoked uncertainty about the outlook, the NFIB survey found. Investors are now counting down to the release of the May Consumer Price Index (CPI) report on Wednesday. The report will offer fresh insight into the state of inflation amid Trump's evolving trade policy. Analysts expect to see price pressures accelerated last month. Vaccine stocks were surprisingly resilient after US Health Secretary Robert F. Kennedy Jr. fired all 17 members of the vaccine advisory committee at the Centers for Disease Control and Prevention (CDC) on Monday. Moderna (MRNA) stock fell 0.8% in premarket trading, while shares of Pfizer (PFE) and Merck (MRK) were roughly flat. BioNTech (BNTX) gained 1.4%. The move could create longer lead times for the CDC to review and approve vaccines, and the panel has significant influence over whether insurance companies and Medicaid cover the immunizations. In an op-ed published in the Wall Street Journal on Monday, RFK Jr. stated that he was reconfiguring the panel to restore trust in vaccines. IBM (IBM) stock added 0.8% in premarket trading on Thursday after the company announced it is building the world's first large-scale quantum computer, called Starling, capable of operating without errors. Yahoo Finance's Laura Bratton reports: Read more here. Shares of J.M. Smucker (SJM) are sinking premarket after the food producer forecast full-year profit below Wall Street expectations. Smucker projected adjusted earnings for the year to come in at $9.50 a share, compared to estimates of $10.25, per Bloomberg. It highlights the challenging environment for consumer packaged goods as consumers pull back on spending on items like Jif peanut butter, Milk-Bone pet treats, and Hostess snack cakes. Smucker also noted it would raise prices as tariffs weigh on its coffee business. J.M. Smucker stock fell over 7% following the company's quarterly results. Economic data: NFIB small business optimism (May) Earnings: Academy Sports and Outdoors (ASO), Dave & Buster's (PLAY), GameStop (GME), The J.M. Smucker Company (SJM), Stitch Fix (SFIX) Here are some of the biggest stories you may have missed overnight and early this morning: The labor market is creating new jobs — but maybe not yours Trump says China 'not easy' as trade talks to continue Tuesday IBM takes a big step toward useful quantum computing China stocks drop suddenly in wait for trade talks Big Tech is driving bullish flows in US stocks: Citi Nvidia, HPE to build new supercomputer in Germany Reddit vs. Anthropic: The AI scraping war is heating up again Wary Wall Street positioning leaves room for S&P 500 to rally Here are some top stocks trending on Yahoo Finance in premarket trading: Tesla, Inc. (TSLA) stock rose 2% before the bell on Tuesday, after being hit with 2 downgrades on Monday due to the fallout from CEO Elon Musk and President Trump's dustup. Tesla's robotaxi test is set to take place on June 12 in Austin, Texas. McDonald's (MCD) shares fell over 1% in premarket trading today after analysts at Morgan Stanley downgraded the fast food company on Monday to a Hold from a Buy. Morgan Stanley also cut its price target to $324 from $329. Bloomberg reports: US technology heavyweights have attracted a flurry of bullish bets as optimism around the economic outlook overshadows trade concerns, according to Citigroup Inc. (C) strategists. Long positions in the technology-heavy Nasdaq 100 (^NDX) increased by more than in the S&P 500 (^GSPC) last week, the team led by Chris Montagu wrote in a note. Exposure has been mainly driven by new bullish bets, while short bets steadily declined across indexes, they said. Read more here. Chinese stocks fell on Tuesday ahead of the second day of trade negotiations between the US and China. Investors are cautious as the two biggest economies seek to resolve some contentious issues. Bloomberg News reports: Read more here. When President Trump set off a global stock market slump in April with his package of sweeping new tariffs, small investors across Asia rushed to the US stock market to buy the dip. Now they're backing away, data for May shows. Bloomberg reports: Read more here. Apple (AAPL) is holding its highly anticipated annual developers' conference. Yahoo Finance's Daniel Howley reports from Silicon Valley: Apple on Monday announced sweeping changes to its product ecosystems, including a wide-ranging revamp of its iOS operating system for its iPhones, as well as the software that powers its iPads and Macs. The updates, which the company debuted as part of its WWDC developer event held at its headquarters in Cupertino, Calif., mark the biggest shift in Apple's software design in years. Still, the improvements were light on new AI capabilities at a time when Wall Street is looking for Apple to prove it can compete in the space. ... While Apple showed off a handful of new features for its Apple Intelligence platform, it's unlikely to quell fears that the company is falling behind the likes of Microsoft and Google in the rapidly evolving space. Read more on Apple's announcements here. Vaccine stocks were surprisingly resilient after US Health Secretary Robert F. Kennedy Jr. fired all 17 members of the vaccine advisory committee at the Centers for Disease Control and Prevention (CDC) on Monday. Moderna (MRNA) stock fell 0.8% in premarket trading, while shares of Pfizer (PFE) and Merck (MRK) were roughly flat. BioNTech (BNTX) gained 1.4%. The move could create longer lead times for the CDC to review and approve vaccines, and the panel has significant influence over whether insurance companies and Medicaid cover the immunizations. In an op-ed published in the Wall Street Journal on Monday, RFK Jr. stated that he was reconfiguring the panel to restore trust in vaccines. IBM (IBM) stock added 0.8% in premarket trading on Thursday after the company announced it is building the world's first large-scale quantum computer, called Starling, capable of operating without errors. Yahoo Finance's Laura Bratton reports: Read more here. Shares of J.M. Smucker (SJM) are sinking premarket after the food producer forecast full-year profit below Wall Street expectations. Smucker projected adjusted earnings for the year to come in at $9.50 a share, compared to estimates of $10.25, per Bloomberg. It highlights the challenging environment for consumer packaged goods as consumers pull back on spending on items like Jif peanut butter, Milk-Bone pet treats, and Hostess snack cakes. Smucker also noted it would raise prices as tariffs weigh on its coffee business. J.M. Smucker stock fell over 7% following the company's quarterly results. Economic data: NFIB small business optimism (May) Earnings: Academy Sports and Outdoors (ASO), Dave & Buster's (PLAY), GameStop (GME), The J.M. Smucker Company (SJM), Stitch Fix (SFIX) Here are some of the biggest stories you may have missed overnight and early this morning: The labor market is creating new jobs — but maybe not yours Trump says China 'not easy' as trade talks to continue Tuesday IBM takes a big step toward useful quantum computing China stocks drop suddenly in wait for trade talks Big Tech is driving bullish flows in US stocks: Citi Nvidia, HPE to build new supercomputer in Germany Reddit vs. Anthropic: The AI scraping war is heating up again Wary Wall Street positioning leaves room for S&P 500 to rally Here are some top stocks trending on Yahoo Finance in premarket trading: Tesla, Inc. (TSLA) stock rose 2% before the bell on Tuesday, after being hit with 2 downgrades on Monday due to the fallout from CEO Elon Musk and President Trump's dustup. Tesla's robotaxi test is set to take place on June 12 in Austin, Texas. McDonald's (MCD) shares fell over 1% in premarket trading today after analysts at Morgan Stanley downgraded the fast food company on Monday to a Hold from a Buy. Morgan Stanley also cut its price target to $324 from $329. Bloomberg reports: US technology heavyweights have attracted a flurry of bullish bets as optimism around the economic outlook overshadows trade concerns, according to Citigroup Inc. (C) strategists. Long positions in the technology-heavy Nasdaq 100 (^NDX) increased by more than in the S&P 500 (^GSPC) last week, the team led by Chris Montagu wrote in a note. Exposure has been mainly driven by new bullish bets, while short bets steadily declined across indexes, they said. Read more here. Chinese stocks fell on Tuesday ahead of the second day of trade negotiations between the US and China. Investors are cautious as the two biggest economies seek to resolve some contentious issues. Bloomberg News reports: Read more here. When President Trump set off a global stock market slump in April with his package of sweeping new tariffs, small investors across Asia rushed to the US stock market to buy the dip. Now they're backing away, data for May shows. Bloomberg reports: Read more here. Apple (AAPL) is holding its highly anticipated annual developers' conference. Yahoo Finance's Daniel Howley reports from Silicon Valley: Apple on Monday announced sweeping changes to its product ecosystems, including a wide-ranging revamp of its iOS operating system for its iPhones, as well as the software that powers its iPads and Macs. The updates, which the company debuted as part of its WWDC developer event held at its headquarters in Cupertino, Calif., mark the biggest shift in Apple's software design in years. Still, the improvements were light on new AI capabilities at a time when Wall Street is looking for Apple to prove it can compete in the space. ... While Apple showed off a handful of new features for its Apple Intelligence platform, it's unlikely to quell fears that the company is falling behind the likes of Microsoft and Google in the rapidly evolving space. Read more on Apple's announcements here. Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures fluctuate as US-China trade talks enter second day
US stock futures were stuck in a holding pattern on Tuesday as renewed US-China trade talks entered their second day after an upbeat initial meeting. Futures on the Dow Jones Industrial Average (YM=F), the S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) all wavered around the flat line. The mood is cautious as investors keep a close eye on the trade talks, which restarted in the morning in London. While a deal on access to China's rare earth minerals is the US priority, negotiators have to navigate contentious issues that have fueled a rift between the two trading partners. Any signs of progress will likely be greeted with relief by markets, given switchbacks in President Trump's tariff policy and in US-China relations have fed uncertainty about risks to economic growth worldwide. On Monday, stocks on Wall Street edged higher after White House officials suggested discussions had been productive — though Trump himself cautioned that "China's not easy". Read more: The latest on Trump's tariffs Chinese stocks slid suddenly on Tuesday before the meeting resumed, a bout of volatility that suggested investors aren't confident of success. 'The market is too sensitive,' Fu Shifeng, investment director at Cheng Zhou Investment, told Bloomberg. 'People seem to be speculating that the talks didn't go well.' Meanwhile, investors are counting down to the release of the May Consumer Price Index (CPI) report on Wednesday. The report will offer fresh insight into the state of inflation amid Trump's evolving trade policy. Analysts expect to see price pressures accelerated last month. Economic data: NFIB small business optimism (May) Earnings: Academy Sports and Outdoors (ASO), Dave & Buster's (PLAY), GameStop (GME), The J.M. Smucker Company (SJM), Stitch Fix (SFIX) Here are some of the biggest stories you may have missed overnight and early this morning: The labor market is creating new jobs — but maybe not yours Trump says China 'not easy' as trade talks to continue Tuesday IBM takes a big step toward useful quantum computing China stocks drop suddenly in wait for trade talks Big Tech is driving bullish flows in US stocks: Citi Nvidia, HPE to build new supercomputer in Germany Reddit vs. Anthropic: The AI scraping war is heating up again Wary Wall Street positioning leaves room for S&P 500 to rally Here are some top stocks trending on Yahoo Finance in premarket trading: Tesla, Inc. (TSLA) stock rose 2% before the bell on Tuesday, after being hit with 2 downgrades on Monday due to the fallout from CEO Elon Musk and President Trump's dustup. Tesla's robotaxi test is set to take place on June 12 in Austin, Texas. McDonald's (MCD) shares fell over 1% in premarket trading today after analysts at Morgan Stanley downgraded the fast food company on Monday to a Hold from a Buy. Morgan Stanley also cut its price target to $324 from $329. Bloomberg reports: US technology heavyweights have attracted a flurry of bullish bets as optimism around the economic outlook overshadows trade concerns, according to Citigroup Inc. (C) strategists. Long positions in the technology-heavy Nasdaq 100 (^NDX) increased by more than in the S&P 500 (^GSPC) last week, the team led by Chris Montagu wrote in a note. Exposure has been mainly driven by new bullish bets, while short bets steadily declined across indexes, they said. Read more here. Chinese stocks fell on Tuesday ahead of the second day of trade negotiations between the US and China. Investors are cautious as the two biggest economies seek to resolve some contentious issues. Bloomberg News reports: Read more here. When President Trump set off a global stock market slump in April with his package of sweeping new tariffs, small investors across Asia rushed to the US stock market to buy the dip. Now they're backing away, data for May shows. Bloomberg reports: Read more here. Apple (AAPL) is holding its highly anticipated annual developers' conference. Yahoo Finance's Daniel Howley reports from Silicon Valley: Apple on Monday announced sweeping changes to its product ecosystems, including a wide-ranging revamp of its iOS operating system for its iPhones, as well as the software that powers its iPads and Macs. The updates, which the company debuted as part of its WWDC developer event held at its headquarters in Cupertino, Calif., mark the biggest shift in Apple's software design in years. Still, the improvements were light on new AI capabilities at a time when Wall Street is looking for Apple to prove it can compete in the space. ... While Apple showed off a handful of new features for its Apple Intelligence platform, it's unlikely to quell fears that the company is falling behind the likes of Microsoft and Google in the rapidly evolving space. Read more on Apple's announcements here. Economic data: NFIB small business optimism (May) Earnings: Academy Sports and Outdoors (ASO), Dave & Buster's (PLAY), GameStop (GME), The J.M. Smucker Company (SJM), Stitch Fix (SFIX) Here are some of the biggest stories you may have missed overnight and early this morning: The labor market is creating new jobs — but maybe not yours Trump says China 'not easy' as trade talks to continue Tuesday IBM takes a big step toward useful quantum computing China stocks drop suddenly in wait for trade talks Big Tech is driving bullish flows in US stocks: Citi Nvidia, HPE to build new supercomputer in Germany Reddit vs. Anthropic: The AI scraping war is heating up again Wary Wall Street positioning leaves room for S&P 500 to rally Here are some top stocks trending on Yahoo Finance in premarket trading: Tesla, Inc. (TSLA) stock rose 2% before the bell on Tuesday, after being hit with 2 downgrades on Monday due to the fallout from CEO Elon Musk and President Trump's dustup. Tesla's robotaxi test is set to take place on June 12 in Austin, Texas. McDonald's (MCD) shares fell over 1% in premarket trading today after analysts at Morgan Stanley downgraded the fast food company on Monday to a Hold from a Buy. Morgan Stanley also cut its price target to $324 from $329. Bloomberg reports: US technology heavyweights have attracted a flurry of bullish bets as optimism around the economic outlook overshadows trade concerns, according to Citigroup Inc. (C) strategists. Long positions in the technology-heavy Nasdaq 100 (^NDX) increased by more than in the S&P 500 (^GSPC) last week, the team led by Chris Montagu wrote in a note. Exposure has been mainly driven by new bullish bets, while short bets steadily declined across indexes, they said. Read more here. Chinese stocks fell on Tuesday ahead of the second day of trade negotiations between the US and China. Investors are cautious as the two biggest economies seek to resolve some contentious issues. Bloomberg News reports: Read more here. When President Trump set off a global stock market slump in April with his package of sweeping new tariffs, small investors across Asia rushed to the US stock market to buy the dip. Now they're backing away, data for May shows. Bloomberg reports: Read more here. Apple (AAPL) is holding its highly anticipated annual developers' conference. Yahoo Finance's Daniel Howley reports from Silicon Valley: Apple on Monday announced sweeping changes to its product ecosystems, including a wide-ranging revamp of its iOS operating system for its iPhones, as well as the software that powers its iPads and Macs. The updates, which the company debuted as part of its WWDC developer event held at its headquarters in Cupertino, Calif., mark the biggest shift in Apple's software design in years. Still, the improvements were light on new AI capabilities at a time when Wall Street is looking for Apple to prove it can compete in the space. ... While Apple showed off a handful of new features for its Apple Intelligence platform, it's unlikely to quell fears that the company is falling behind the likes of Microsoft and Google in the rapidly evolving space. Read more on Apple's announcements here. 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
Bloomberg
2 days ago
- Business
- Bloomberg
Chinese Stocks Fall as Investors Puzzle Over US-China Trade Progress
Chinese stocks slid suddenly before a second day of US-China trade talks in London. While it wasn't immediately clear what caused the slide, some investors pointed to earlier commentary on a social media account affiliated with state broadcaster CCTV, which said that 'the US should realistically view the progress made and revoke negative measures against China.' Beijing is earnest about trade talks with the US but is at the same time principled, it added. Hopes that trade negotiations will help ease tensions between the world's two largest economies had spurred a sharp rebound in Chinese shares in recent weeks. 'People seem to be speculating that the talks didn't go well,' said Fu Shifeng, investment director at Cheng Zhou Investment. 'The rally in gold prices as well as rare-earth stocks seems to suggest that.'
Yahoo
2 days ago
- Business
- Yahoo
Chinese Stocks Drop Suddenly as Investors Await US Trade Talks
(Bloomberg) -- Chinese stocks slid suddenly on Tuesday before the second day of trade talks with the US, showing that investors remain on the edge as the world's two largest economies seek to address some contentious issues. Next Stop: Rancho Cucamonga! Trump Said He Fired the National Portrait Gallery Director. She's Still There. Where Public Transit Systems Are Bouncing Back Around the World NYC Mayoral Candidates All Agree on Building More Housing. But Where? US Housing Agency Vulnerable to Fraud After DOGE Cuts, Documents Warn A gauge of Chinese shares in Hong Kong fell as much as 0.9% as trading resumed after the mid-day break, and finished the session down 0.2%. It had risen as much as 0.5% earlier. The CSI 300 Index, a benchmark for onshore equities, flipped to a loss to end 0.5% lower. US equity futures also retreated from the day's high. It wasn't immediately clear what caused the sudden declines. Some investors pointed to an earlier commentary listed in a social media account affiliated with state broadcaster CCTV, which said that 'the US should realistically view the progress made and revoke negative measures against China.' Beijing is earnest about trade talks with the US but is at the same time principled, it added. 'The market is too sensitive,' said Fu Shifeng, investment director at Cheng Zhou Investment. 'People seem to be speculating that the talks didn't go well.' Hopes that trade talks will help ease Sino-American tensions and pave the way for a potential deal between the two nations have spurred a sharp rebound in Chinese shares in recent weeks. The Hang Seng China Enterprises Index entered a bull market on Monday, taking its gains from a April low to over 20%. Global investor sentiment toward China is improving, with increased willingness to add positions in Chinese equities and greater conviction in the 'new consumption' and tech spaces, Morgan Stanley analysts including Laura Wang wrote in a recent note. Representatives from both nations are slated to meet again on Tuesday at 10 a.m. local time in London. Trump on Monday had told reporters that the US was 'doing well with China' and that he was 'only getting good reports.' The first round of negotiations since delegations from the countries met a month ago is aimed at restoring confidence that both sides are living up to commitments made in Geneva. During those discussions, Washington and Beijing agreed to lower crippling tariffs for 90 days to allow time to address a trade imbalance that the Trump administration blames on an unfair playing field. Meanwhile, shares of rare earth firms jumped, with China Rare Earth Holdings Ltd. rallying 26%. China accounts for almost 70% of the world's production of rare earths and the sector is a central point of contention between the two sides. 'It remains a wait-and-watch situation,' said Shen Meng, director at Beijing-based investment bank Chanson & Co. Traders may be worried about a lack of 'any material progress in trade talks anytime soon,' he added. New Grads Join Worst Entry-Level Job Market in Years The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again What America's Pizza Economy Is Telling Us About the Real One America Cast Itself as the World's Moral Leader. Not Anymore ©2025 Bloomberg L.P. Sign in to access your portfolio
