Top Stock Movers Now: GM, GE Vernova, Lockheed Martin, and More
Key Takeaways
- U.S. equities gained at midday on better-than-expected consumer inflation news and a trade agreement between the U.S. and China.
- General Motors will invest $4 billion to expand production at three U.S. factories.
- The Defense Department cut its orders of Lockheed Martin’s F-35 fighter, sending shares of the defense contractor down.
U.S. equities rose at midday as May consumer inflation came in lower than expected, and the U.S. and China reached a trade agreement. The Dow Jones Industrial Average, S&P 500, and Nasdaq all advanced.
General Motors (GM) shares gained when the automaker announced it would invest $4 billion to expand three plants as part of its response to President Donald Trump’s call for more manufacturing in the U.S.
Shares of Dave & Buster’s Entertainment (PLAY) took off after the game-themed restaurant’s CEO said the business was trending higher.
GE Vernova (GEV) shares climbed as Bank of America raised the price target on the maker of generators, citing an expected increase in U.S. power demand.
Lockheed Martin (LMT) shares dropped after the Pentagon slashed orders for the defense contractor’s F-35 fighter.
Shares of Victoria’s Secret (VSCO) slid when the maker of lingerie and other women’s apparel lowered its operating income outlook because of the anticipated costs of new tariffs.
Solar panel provider Sunrun (RUN) shares tumbled on a downgrade from Jefferies, which cited concerns about residential solar demand if federal incentives are eliminated.
Oil and gold futures were up. The yield on the 10-year Treasury note declined. The U.S. dollar lost ground to the euro, pound, and yen. Prices for most major cryptocurrencies were higher.
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