S&P 500 closes higher for a fourth day, Dow jumps more than 250 points: Live updates

The climbed for a fourth session, adding to this week's rally after the U.S. and China agreed to temporarily slash tariff rates. Treasury yields also fell, providing a tailwind to stocks.

The broad market index rose 0.41% to end at 5,916.93, while the added 271.69 points, or 0.65%, and closed at 42,322.75. The underperformed, slipping 0.18% and settling at 19,112.32.

Confidence in the immediate outlook for stocks has strengthened in the wake of last weekend's talks between Treasury Secretary Scott Bessent and Chinese officials that appeared to stave off a short-term decline in economic activity and a ratcheting up in inflation.

Tech giants are putting up a strong showing week to date. and are both up around 15% each, while has added nearly 9% during the period. and are up more than 6% and 7%, respectively. The Nasdaq Composite is higher by 6.6% this week, trailed by the S&P 500, ahead 4.5%, and the Dow, up 2.6%.

"This is a market that has shifted to cautious optimism, i.e., market sentiment has shifted toward measured optimism, as recession fears begin to recede and equity markets demonstrate underlying strength. However, a number of macro and micro risks continue to form a 'wall of worry' that investors must navigate," said Joe Cusick, senior vice president and portfolio specialist at Calamos Investments. "The next phase will hinge on whether the current rally can broaden and sustain through the summer months, or whether it gives way to a healthy consolidation or correction."

Shares of surged almost 86% after  said it the retailer for $2.4 billion. slid nearly 11% after The Wall Street Journal , citing people familiar, that the Justice Department is . A UnitedHealth spokesman later told C온라인카지노사이트 that the insurer has not been notified by the DOJ of the "supposed" investigation reported.

Traders also assessed the state of the economy on Thursday, with an unexpected decline in wholesale prices last month. The producer price index for April declined 0.5% month over month, the Bureau of Labor Statistics said. Economists polled by Dow Jones forecast PPI would increase 0.3% on the month.

Retail sales increased 0.1% in April, which matched consensus estimates, while industrial production numbers for April decreased slightly more than expected.

Bond yields slipped after the release of the soft inflation report. The slipped more than 8 basis points to 4.44%, while the rate on the slid 9 basis points to 3.96%.

S&P closes higher for fourth day

The S&P 500 closed higher for a fourth time on Thursday, aided by a soft inflation report and a drop in Treasury yields.

The broad market index added 0.41% to close at 5,916.93, while the Nasdaq Composite slipped 0.18% to 19,112.32. The Dow Jones Industrial Average added 271.69 points, or 0.65%, to finish the session at 42,322.75.

— Brian Evans

Meta Platforms stock slips on report that the firm plans to delay its premier AI platform

Shares of  pulled back 4% on Thursday on a  that the company plans to delay the rollout of its premier "Behemoth" large language model.

The news also weighed on peer artificial intelligence stocks, with slumping 1.2%. The also extended losses and was last 0.6% lower.

— Brian Evans

'Don't react' to Trump's comments on Apple, Josh Brown says

Josh Brown, CEO of Ritholtz Wealth Management, is not fazed by Trump's recent remarks on .

Shares of the iPhone maker were under pressure during Thursday's session on the heels of Trump revealing that he told Apple CEO Tim Cook he in India.

"During the first Trump term, we used to have a daily angry tweet from the White House at a corporate leader, and the stock price would have a huge negative reaction to that," Brown told C온라인카지노사이트's "" on Thursday. "Everybody had to just kind of accept [that] these land mines are going to be part of the environment that we trade in. The more you don't react, the better off as an investor you'll be. I don't think anything has changed with that dynamic."

"If you're an Apple shareholder, you're not rooting for Apple to throw its margins away and start trying to build AirPods in Manhattan. I think what you're saying is, just do some more press releases, like make a few more things," he continued. "I think Tim Cook is smart enough to understand that's exactly what he needs to do, and he will."

C온라인카지노사이트 Pro subscribers can read about Brown's latest best stocks pick .

— Sean Conlon

D.A. Davidson downgrades CoreWeave to underperform despite stock popping 5% following revenue beat

D.A. Davidson downgraded shares of to an underperform rating from neutral in a note published Thursday.

Analyst Gil Luria maintained his $36 price target, which represents downside of nearly 47% from the stock's Wednesday closing price. Shares of CoreWeave popped 5% on Thursday after the Nvidia-backed artificial intelligence infrastructure provider reported in its last quarter, exceeding the $853 million analysts polled by LSEG had expected. Revenue surged 420% in the quarter from $188.7 million a year ago.

Despite this revenue beat, Luria believes a fundamental problem exists with CoreWeave's returns.

"We believe CoreWeave is a business not worth scaling if it can only generate 5% returns on its assets and has to pay 12.5% interest on the debt necessary to acquire those assets," he wrote. "The reason this business is not worth scaling is that it is mostly serving as overflow capacity for competitor Microsoft, which is unlikely to exist beyond the three-year deal."

Luria added: "Investors regretted scaling WeWork, and they may not want to scale this business."

— Lisa Kailai Han

Uncertainty isn't going away for U.S. stocks, says Wells Fargo

There are still plenty of headwinds hanging over U.S. equities, according to Wells Fargo.

"The bottom line is that many uncertainties remain," Wells Fargo investment institute senior global market strategist Scott Wren wrote in a Wednesday note. "The U.S. is in the early stages of trade negotiations. Given that, our guidance is to continue to lean toward higher-quality large- and mid-cap U.S. equities."

"In fixed income, we favor exposure to investment-grade corporates and essential-service municipal bonds in the three-to-seven-year maturity range," he added.

— Brian Evans

See the stocks moving midday

These are some of the stocks moving the most midday:

•  — The sporting goods retailer tumbled 14% on the announcement that it would buy rival  , in a deal expected to close in the second half of this year. Shares of Foot Locker rallied 85% on the news.
•  — The health insurer plunged 15%, hitting an intraday low not seen in more than five years. The Wall Street Journal, citing people familiar with the matter,  that the company is under a Justice Department investigation for potential Medicare fraud.
•  — Shares fell more than 4% after the digital currency platform said  to steal customer data for use in social engineering attacks. The hackers are now demanding $20 million in ransom.

— Alex Harring

Retail stocks head for best week since 2023

Retail stocks in the S&P 500 are poised to notch their best weekly performance since late 2023.

The has rallied more than 6% this week. If that holds through Friday's close, it would mark the fund's biggest week gain since November 2023, when the exchange-traded fund jumped more than 7% in one week.

The ETF is also on pace to notch its fifth positive week of the last six.

led the way, skyrocketing more than 98% this week following the followed, climbing more than 33% as investors analyzed the Western clothing retailer's earnings report.

Despite the gain, the fund is still down more than 5% on the year.

— Alex Harring, Nick Wells

Wolfe Research upgrades Pinterest to outperform rating

Wolfe Research upgraded social media stock to an outperform rating from peer perform in a Thursday note, citing easing tariff tensions between the U.S. and China.

Analyst Shweta Khajuria's price target of $40 is approximately 22% higher than where shares of Pinterest closed Wednesday. Pinterest stock has rallied 13% this year.

Besides the change in macro backdrop, Khajuria also pointed to this "highly reasonable" valuation as a catalyst. Meanwhile, Pinterest's performance products are also creating a "compounding revenue opportunity," she wrote.

"We expect continued outperformance on relative product cycle and valuation disconnect vs. other sub-scale peers," Khajuria added.

— Lisa Kailai Han

U.S. recession is still on the table, Jamie Dimon says

JPMorgan Chase CEO Jamie Dimon told Bloomberg Television on Thursday that the U.S. is still at

"If there's a recession, I don't know how big it will be or how long it will last. Hopefully, we'll avoid it, but I wouldn't take it off the table at this point," Dimon said.

Dimon's comments come less than a week after the U.S. and China announced they were sharply reducing tariffs on each other for 90 days. Dimon called the pause "the right thing to do" but cautioned that even the remaining tariffs could cause problems.

"Even at this level, you see people holding back on investment and thinking through what they want to do," Dimon said.

— Jesse Pound

The bond market is at odds with optimism seen in equities, economist says

Fixed income investors are seeing a more concerning outlook than what the stock market is implying as Treasury yields remain stubbornly high, according to RSM chief economist Joseph Brusuelas.

"Given the risks to the economy—a recession is still a coin flip this year—and recovery in the equity markets, bond yields should be falling," Brusuelas wrote in a Thursday note. "They are not, and that is because fixed-income investors are sniffing out the logic of economic populism amid a move toward trade protectionism, which strongly implies higher inflation and rising long-term yields."

"Should Congress approve a large tax cut that is not paid for, don't be surprised if the bond market pushes yields back toward mid-April highs, which captured the pushback against the trade conflict," he added.

— Brian Evans

Stocks open lower

Stocks opened lower on Thursday as Wall Street's most recent rally took a breather.

The S&P 500 slipped 0.3%, while the Nasdaq Composite fell 0.5%. The Dow Jones Industrial Average lost 186 points, or 0.4%.

— Brian Evans

Retail sales edge higher, jobless claims unchanged

rose slightly in April as consumers began preparing for potential inflation from President Trump's tariffs, the Commerce Department reported Thursday.

Advance estimates showed a gain of 0.1%, down sharply from the 1.7% increase in March, though in line with the Dow Jones consensus estimate. Ex-auto sales also rose 0.1%, short of the 0.3% estimate. Sales rose 5.2% from a year ago, according to the figures that are adjusted for seasonality but not inflation.

Restaurants and bars saw a 1.2% increase, and building materials and garden centers reported a 0.8% gain. Sporting goods sales were off 2.5%, while miscellaneous retailers slipped 2.1%.

In other economic news, were unchanged at 229,000 for the week ending May 10, near the forecast for 226,000.

Also, the Empire State Manufacturing index, which gauges activity around the New York area, fell further to -9.2, slightly below the -9.0 estimate. The Philadelphia Fed manufacturing index rose sharply in May but was still negative at -4.0. The previous reading was -26.4. The estimate was for -10.5. The two measures look at the difference between companies reporting expansion against contraction.

— Jeff Cox

Wholesale prices unexpectedly fell in April amid slide in services

Wholesale prices unexpectedly declined in April as prices for services fell the most in at least the past 16 years, the Bureau of Labor Statistics reported Thursday.

The , a measure of final demand prices, declined 0.5% after being unchanged in March. Economists surveyed by Dow Jones had been looking for an increase of 0.3%.

The BLS said the decline was attributable to a 0.7% decrease in services prices, the steepest in the survey's history going back to December 2009. Most of the decline came from a 1.6% slide in trade services. Also, margins for machine and vehicle wholesaling fell 6.1%.

Excluding food and energy, core PPI declined 0.4%, also against an estimate for a 0.3% increase.

— Jeff Cox

Walmart, Dick's Sporting Goods among the names making moves in the premarket

Check out the stocks making moves before the opening bell on Thursday:

•  — The discount retailer reported , but shares were slightly lower in the premarket. Walmart posted an adjusted profit of 61 cents per share, beating an LSEG estimate of 58 cents per share. Revenue of $165.61 billion was about in line with the consensus forecast of $165.84 billion.
• ,  — Shares of Dick's Sporting Goods slid nearly 11% after the athletic apparel and goods company  smaller rival Foot Locker for $2.4 billion. Dick's offered $24 per share of Foot Locker, which implies 86% upside to the stock's price. Foot Locker shares popped roughly 83% on the news.
•  — The health insurer's shares pulled back more than 6%. On Wednesday, The Wall Street Journal, citing people familiar with the matter, reported that UnitedHealth is being investigated by the Department of Justice for .

Read for the full list.

— Sean Conlon

Trump says he doesn’t want Apple building products in India

he told CEO Tim Cook that he does not want the tech giant building its products in India. Shares of Apple dipped about 1% in premarket trading.

"I had a little problem with Tim Cook yesterday," Trump said. "I don't want you building in India."

Apple has been ramping up production in India with the aim of making around 25% of global iPhones in the country in the next few years as it looks to reduce reliance on China.

— Yun Li, Arjun Kharpal

Foot Locker stock up more than 80% as Dick's acquisition officially announced

Shares of surged more than 80% in premarket trading as the retailer and announced a . The announcement confirms a previous report by .

The acquisition will involve Dick's paying $24 per share in cash for the smaller company, the companies said. Foot Locker shareholders can also elect to receive stock instead of cash.

Shares of Foot Locker closed at $12.87 per share on Wednesday, down roughly 41% year to date.

Shares of Dick's were down more than 8% in premarket trading.

— Jesse Pound

Oil prices tumble after Trump raises hope of Iran nuke deal

Crude oil futures fell more than 3% on Thursday after President Donald Trump said the U.S. is holding with Iran that could result in a nuclear deal.

"We're in very serious negotiations with Iran for long-term peace," Trump said in Doha, Qatar.

U.S. crude oil was down $2.24, or 3.55%, at $60.91 per barrel. Global benchmark Brent fell $2.18, or 3.3%, to $63.91 per barrel.

A top advisor to Iran's supreme leader  on Tuesday that the OPEC producer was ready to sign a nuclear deal with certain conditions.

— Spencer Kimball

Walmart rises on earnings beat

reported better-than-expected earnings, sending shares higher by more than 2% in the premarket.

The company posted an adjusted , beating an LSEG estimate of 58 cents per share. Revenue of $165.61 billion was about in line with the consensus forecast of $165.84 billion.

But Chief Financial Officer John David Rainey warned that tariffs are still too high, even after the U.S. and China agreed to lower duties for 90 days.

"We're wired for everyday low prices, but the magnitude of these increases is more than any retailer can absorb," he said. "It's more than any supplier can absorb. And so I'm concerned that [the]consumer is going to start seeing higher prices. You'll begin to see that, likely towards the tail end of this month, and then certainly much more in June."

— Fred Imbert

Jefferies upgrades Petrobras to buy rating on new cost-cutting measures

Jefferies upgraded shares of to a buy rating from hold in a Thursday note. Analyst Alejandro Anibal Demichelis' price target of $15.30 is approximately 26% above the stock's Wednesday closing price of $12.15.

Shares of Petrobras have slipped nearly 6% this year and have plunged 28% over the past 12 months, opening up an attractive entry point for investors, Demichelis wrote.

"PBR shares are down 28% LTM, materially lagging peers and the Brazilian index, and now trade on 3.4x EV/DACF 2026E, a c25% discount to global peers. We see this as an undemanding valuation, relative to historical multiples, and see room for PBR to re-rate near term as the more discipline capital allocation push removes market concerns," the analyst said.

Meanwhile, new cost-cutting efforts have significantly improved the company's risk/reward ratio. In a recent conference call, Petrobras' CEO confirmed that, with current oil prices in mind, the company will focus more toward cost cutting, project simplification and capital discipline measures.

"PBR mgmt's aim to cut costs to weather lower oil prices and base dividend commitment positively skews the risk/reward for the stock, in our view," Demichelis added. "In addition, the ramp up of new platforms should offer some upside to PBR's FY25 output growth target of 5%."

— Lisa Kailai Han

Cisco Systems rises after earnings beat

was the best performer in the S&P 500 in the premarket, rising nearly 4% after the tech company reported fiscal third-quarter results that beat expectations.

an adjusted 96 cents per share on revenue of $14.15 billion. Analysts polled by LSEG expected a profit of 92 cents per share on revenue of $14.08 billion.

— Fred Imbert

UnitedHealth Group tumbles after WSJ reports the insurer is facing a probe from the Justice Department

Shares of slid Wednesday night after , citing people familiar, that the Justice Department is investigating the insurer.

The people told the Journal that the probe centers on UnitedHealth's Medicare Advantage business practices.

"We have not been notified by the Department of Justice of the supposed criminal investigation reported," a UnitedHealth spokesman later told C온라인카지노사이트. "We stand by the integrity of our Medicare Advantage program."

Shares of UnitedHealth were last down 8%, dragging down Dow futures.

— Darla Mercado, Bertha Coombs

Wholesale inflation reading due on Thursday

Traders are looking ahead to the producer price index, a measure of wholesale prices, due on Thursday morning.

Economists polled by Dow Jones anticipate the April producer price index grew 0.3% from the prior month. They also estimate that the core reading, which excludes food and energy prices, rose 0.3% during the period.

April's consumer price index helped lift investors' sentiment this week. Headline CPI climbed 0.2% for the month, bringing the 12-month inflation rate to 2.3%. The monthly result was in line with Dow Jones consensus estimates, while the 12-month reading came in slightly below the forecast for 2.4%.

— Darla Mercado

Stocks making the biggest moves in extended trading

Several stocks made major moves in after-hours action on Wednesday evening:

•  – Shares of the sports apparel retailer soared 67%.  reported, citing sources familiar with the matter, that  is closing in on a deal to buy the company for roughly $2.4 billion, or about $24 per share. Shares of Dick's Sporting Goods slid about 6%.
•  – Shares of the networking tech company jumped 2% after fiscal  topped estimates. Cisco posted adjusted earnings of 96 cents per share on revenue of $14.15 billion, while analysts polled by LSEG sought 92 cents per share on revenue of $14.08 billion. Cisco's finance chief Scott Herren will retire in July.
•  – The artificial intelligence infrastructure company saw shares fall about 6%. CoreWeave posted a loss of $1.49 per share, but beat the Street's estimates on . Revenue surged 420% in the quarter on a year-over-year basis. It is CoreWeave's first quarterly report since it debuted on the public markets.

.

— Darla Mercado

Stock futures open little changed Wednesday evening

Futures traded near the flatline Wednesday night.

S&P 500 futures slipped 0.1%, as did Nasdaq 100 futures. Dow Jones Industrial Average futures lost 38 points, or roughly 0.1%.

— Darla Mercado