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S&P Outlook Looking Up
With the first half of 2025 almost behind us, Wall Street analysts are actively revising their year-end market forecasts. Most recently, Barclays has adjusted its S&P 500 year-end outlook upward by nearly 3% to 6,050, a notable increase from its previous target of 5,900. Beyond Barclays, other prominent analyst firms like Deutsche Bank and RBC have also recently elevated their 2025 S&P 500 targets, signaling a positively shifting consensus for the broader market’s direction.
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Market optimism is overriding underwhelming labor market data, with all three major stock averages climbing higher as of morning trading. Yesterday, equities staged a turnaround, as the Dow Jones Industrial Average notched its fourth consecutive winning session, while the tech-heavy Nasdaq Composite and S&P 500 also advanced. Today, most economic sectors are in positive territory, with technology leading the charge with a 1.48% gain. The SPDR S&P 500 ETF (SPY) is up 0.11%)
Nvidia (Nasdaq: NVDA) has surpassed Microsoft (Nasdaq: MSFT) to reclaim its position as the world’s most valuable company, now boasting a market capitalization of $3.45 trillion. Traders and investors are betting whether NVDA stock can clinch new highs soon.
Private Payrolls Slow, Sparking Rate Cut Calls
Private sector hiring lost significant momentum in May, with payrolls expanding by a mere 37,000 jobs. These results not only fell short of April’s 60,000 gain but also missed the Dow Jones forecast of 110,000 by a wide margin. In a sobering sign for the labor market, it marked the lowest monthly job creation from the ADP report in over two years. Meanwhile, the picture for wages remained largely static compared with the prior month’s results. Following this weaker-than-expected private sector jobs data, President Trump is increasing pressure on Jerome Powell to lower interest rates, asserting that the Fed chairman should have already taken this action.
Discount Retailers Rally, ON Semi Recovers
Dollar General (NYSE: DG) is racing ahead by 15.8% today, extending yesterday’s gains on the back of a positive full-year outlook. Fellow discount retailer Dollar Tree (NYSE: DLTR) is also gaining 6% today, buoyed by similarly upbeat guidance.
ON Semi (Nasdaq: ON) is climbing 2.7% today, recouping some recently lost ground. This comes after Morgan Stanley analysts recently indicated that much of the negative sentiment is already factored into ON’s stock price.
The post S&P 500 (NYSEARCA: SPY) Live: Markets Show Resilience in Face of Sputtering Economy appeared first on 24/7 Wall St..
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Author: Gerelyn Terzo
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