S&P 500 INDEX (SPX) Live: Markets Pivot Toward Caution After Winning Streak
Investing
-
The markets have turned cautious after Fed Chairman’s remarks on interest rates.
-
The S&P 500 is on track to break its three-day winning streak.
-
Are you ahead, or behind on retirement? SmartAsset’s free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don’t waste another minute; get started by clicking here.(Sponsor)
Live Updates
Live Coverage
Updates appear automatically as they are published.
11:07 am
While some retailers like Walmart are discussing higher prices for consumers due to tariffs, data on producer prices suggests a broader trend of cost absorption. April saw a significant 0.5% decrease in producer prices, the most substantial drop in five years. This indicates that U.S. producers are largely bearing the brunt of increased costs, protecting consumers from immediate price hikes, a finding that significantly undershot Bloomberg economist expectations of a 0.2% increase.
This article will be updated throughout the day, so check back often for more daily updates.
The stock market has opened with a cautious tone this morning, as the Dow, Nasdaq, and S&P 500 are all trading lower. The SPX index is down 0.37%. Investors are reacting to concerning statements made by Federal Reserve Chairman Jerome Powell at an economic forum earlier today. Powell warned of potentially higher long-term interest rates for the long term, owing in part to an uncertain monetary policy outlook.
Today’s pullback follows an impressive run for the broader stock market in which the S&P 500 has been retaking lost ground for a positive year-to-date performance. For its part, the tech-heavy Nasdaq Composite has recovered 6% over the past five trading sessions. Today Apple (Nasdaq: AAPL) will distribute it quarterly cash dividend of $0.26 per share to shareholders.
Here’s the early look at market performance:
Dow Jones Industrial Average: Down 114.29 (-0.27%)
Nasdaq Composite: Down 128.16 (-0.67%)
S&P 500: Down 13.30 (-0.23%)
Stocks in Focus
Walmart (NYSE: WMT) is trading down by 4.0% following an announcement from a company executive that the retailer plans to transfer tariff costs to consumers in the form of higher prices, with these increases potentially taking effect this month.
Shares of Chinese e-commerce leader Alibaba (NYSE: BABA) have tumbled by 6.5% today after the company reported disappointing revenue figures for its fiscal fourth quarter.
Networking solutions provider Cisco (Nasdaq: CSCO) is also seeing downward pressure, with its stock down 4.2%.
CoreWeave (Nasdaq: CRWV) is under pressure, falling by 4.4%, despite announcing strong first-quarter revenue and significant demand for its AI cloud platform,. Investors appear concerned by the company’s plans for aggressive capex plans in Q2. On the positive side, CoreWeave clinched a lucrative partnership with Google.
UnitedHealth Group (NYSE: UNH) is a major drag on the markets, falling 17% today in a series of setbacks, the latest of which is a potential Medicare controversy.
Most People Don’t Realize How Good Things Are Are Right Now
With inflation and uncertainty running high, millions of Americans have missed the best money opportunity right under their noses. Personal loan ares are shockingly affordable today, and can be a secret weapon for that home improvement project, paying off a credit card, or covering an unexpected emergency.
With rates starting at just 6.40% APR, frankly it’d be crazy to not consider one. It’s the smart time to take action. Compare top loan offers in under 2 minutes—with zero impact on your credit score—and get matched with lenders ready to help you move forward.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.