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Fed Speaker Rounds
While the markets didn’t receive the gift of an interest rate cut in June, there could be one just around the corner. Fed Governor Christopher Waller is making the speaking rounds today and tipped his hand to a possible interest rate cut materializing as early as July, given the backdrop of a cooling inflationary economy. President Trump predicts a rate cut would be like “rocket fuel” to the markets.
The SPY is currently up 0.15%.
This article will be updated throughout the day, so check back often for more daily updates.
The markets are striving to close the week on an upbeat note after gaining clarity on interest rates and a possible pause in the Middle East chaos. The White House remains hopeful that negotiations with Iran remain a possibility, giving the markets reason for cheer. All three major stock market averages kicked off the session in positive territory, including a 0.23% gain in the SPDR S&P 500 ETF (SPY). Most sectors of the economy are advancing today, with energy stocks on top as crude oil prices climb amid the heightened geopolitical backdrop.
Big Tech names are participating in today’s gains. Amazon (Nasdaq: AMZN) is up 0.75%, as the e-commerce titan teams up with SK Group to funnel $5 billion into an AI-powered data center project in South Korea. For those watching closely, Tesla (Nasdaq: TSLA) is recouping some of its recent losses, jumping 2.5% today. While the S&P 500 is headed for a slight weekly decline, the broader market index is up nearly 2% year-to-date.
Dow Jones Industrial Average: Up 108.47 (+0.26%)
Nasdaq Composite: Up 19.11 (+0.10%)
S&P 500: Up 12.24 (+0.20%)
Market Movers
Professional services firm Accenture (NYSE: ACN) finds itself lagging today’s gains, with its stock down 8% after quarterly results revealed a softening in booking activity. While Accenture’s revenue did surpass analyst estimates, the markets appear to be focusing on the less favorable aspects of the report.
CarMax (NYSE: KMX) is heading higher, up 2.7%. The used car retailer’s stock is benefiting from an uptick in demand for pre-owned vehicles, particularly as the broader automotive sector navigates ongoing tariff pressures.
Kroger (NYSE: KR) has advanced 5.6% today following the grocery retailer’s mixed first-quarter earnings report.
The post S&P 500 (NYSEARCA: SPY) Live: Markets Rise, Taking Cue From Potential Mideast Talks appeared first on 24/7 Wall St..
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Author: Gerelyn Terzo
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