Nasdaq-ADV: 7.213 Dec: 3,242 NYSE-ADV: 2,891 Dec: 1,244
(Source: Nasdaq)
US stocks rise simply on Wednesday, supported by technology stocks, but some initial benefits evaporate when weak data reveals economic victims taken by President Donald Trump’s trading policy that is uncertain.
The service sector which was contracted in May for the first time in almost one year, while the business paid a higher input price, a reminder that the economy was still at risk of slowing down growth and increasing inflation.
“The impact of the possibility of increasing prices paid by service sector companies,” said Jeffrey Roach, head of economist for financial LPL.
The ADP National Manpower Report showed US private entrepreneurs in May added the number of workers in at least more than two years. Investors are waiting for non-payrolls data on Friday for more signs about how trade uncertainty affects the US labor market.
Washington doubled the imported steel and aluminum tariffs to 50%, and Wednesday also Trump’s deadline for trading partners to make their best offers to avoid other import levies that did not apply in early July.
Investors focus on tariff negotiations between Washington and trading partners, with Trump and Chinese leader Xi Jinping are expected to speak around this week when the tension boils between the two largest economies in the world.
“If we cannot reach an agreement on China, tariff battles will be a major problem during the next months and will have an impact on the domestic and international economy,” said Phil Blancato, CEO of Ladenburg Thalmann Asset Management.
May saw the biggest monthly increase in the S&P 500 index (.SPX), and Nasdaq Severe Technology (.IXIC), since November 2023, thanks to the sauce of hard trading attitudes and cheerful income reports.
S&P 500 remains more than 2% below the highest record touched in February.
Barclays joined many brokers in raising the year -end price target for the S&P 500, pointing to reduce trade uncertainty and expectations of revenue growth that were normalized in 2026.
At 2:03 p.m. the average Dow Jones industry (.DJI), up 71.44 points, or 0.17%, to 42,591.08, S&P 500 (.SPX), gained 17.09 points, or 0.29%, 5,987,46 and Nasdaq points (.IXIC), 84,446 and Nasdaq (.IXIC) points,. 19,483.42.
Eight of the 11 Main S&P 500 sub-sectors rose, led by communication services (.SPLRRCL), with an increase of almost 1.3%.
Hewlett Packard Enterprise (HPE.N) shares, up 1.1% as a request for artificial intelligence servers and cloud hybrid segments help estimated second quarter income and profit.
Globalfoundries (GFS.O), up 1.5% after Chip producers announced plans to increase investment to $ 16 billion.
The fourth largest bank shares as wells fargo (wfc.n), up 0.4%, briefly reached the highest level of three months, after the federal reserve lifted the $ 1.95 trillion lid which had long been in its assets.
CEO Wells Fargo Charlie Scharf told Reuters that he expects banks to grow in all businesses including wealth, commercial banking and investment and credit cards, but not mortgage.
Tesla (tsla.o), down 2.8%. Sales of electric vehicle makers fell for the fifth month in a row in the large European market.
The shares of Cybersecurity Crowdstrike (CRWD.O), dropped 5.5% after estimating the quarterly income below estimates.
Dollar Tree (DLTR.O), down 0.9% because the discount operator estimates that the profit adjusted the second quarter can drop as much as 50% from last year because of the volatility driven by tariffs.
Advanced problems exceed the number of determination with a ratio of 1,81-to-1 in Nyse. There are 183 new highest and the lowest 32 new in Nyse.
In Nasdaq, advanced problems exceed the number of determination with a ratio of 1.4-to-1.
S&P 500 posted 22 highest 52 new weeks and there was no new lowest position while Nasdaq Composite recorded 75 highest and the lowest 30 new.
Source: Reuters (reporting by Kanchana Chakravarty and Sukriti Gupta in Bengaluru and Saeed Azhar in New York; Editing by Devika Syamnath and David Gregorio)
