Dow Jones Today: Stock Futures Rise as Investors Await News on US-China Trade Talks; Tesla
June 10, 2025
Biggest S&P 500 Movers on Tuesday2 hr 19 min ago Advancers
Intel (INTC) shares surged nearly 8%, gaining the most of any stock in the S&P 500. Shares of other semiconductor makers also moved higher as the U.S.-China talks bolstered hopes for looser export restrictions. Although Apple (AAPL) said it will end support next year for Mac computers built with Intel’s processors, providing more evidence of the transitional period faced by the chipmaker, analysts have expressed confidence in the ability of CEO Lip-Bu Tan, who took the reins of in March, to drive a turnaround at Intel.
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Annabelle Chih / Bloomberg / Getty Images
- Caesars Entertainment (CZR) shares jumped 5.7%. TD Cowen analysts reiterated a “buy” rating on the casino operator’s stock, noting that the company’s loyalty program has helped drive entertainment, food and beverage, and lodging revenues to supplement its traditional earnings from gaming operations. The analysts also pointed to potential growth in its digital business.
- Tesla (TSLA) stock also added 5.7% as social-media posts from CEO Elon Musk hinted at the impending launch of the company’s autonomous ride hailing service in Austin, Texas. Tuesday’s move higher extended a recovery for the stock that kicked into gear during the previous session as tensions appeared to ease between Musk and President Donald Trump.
- Warner Bros. Discovery (WBD) shares advanced 5%, a day after the media conglomerate announced plans to split into two companies. One entity will house Warner’s TV and movie studios along with the HBO Max streaming service, while the other will be home to its cable channels and the Discovery+ streaming service. The stock initially surged following the Monday-morning announcement, gave back those gains to end Monday’s session lower, and then rose again today.
Decliners
- Food maker J.M. Smucker (SJM) reported lower-than-expected sales for its fiscal fourth quarter of 2025, and its profit guidance for fiscal 2026 also came in below expectations. The maker of Folgers coffee and Uncrustables handheld sandwiches said that volume/mix impacts contributed to a year-over-year decline in net sales, especially declines in dog treats and sweet baked goods. Smucker shares sank nearly 16%, losing the most of any S&P 500 stock on Tuesday.
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Dave Kotinsky / Getty Images
- Universal Health Services (UHS) fell 2.9% on Tuesday, extending losses posted in the prior session after the hospital operator’s chief financial officer discussed a decline in the volume of surgical procedures at its facilities.
Apple Levels to Watch After WWDC Fails to Boost Stock2 hr 36 min ago Apple (AAPL) shares rose slightly Tuesday after losing ground the previous session following announcements from the company at its developers conference that failed to impress investors.
The tech giant, which kicked off its week-long Worldwide Developers Conference on Monday, unveiled several AI-related improvements with iOS 26 but said enhanced Siri features needed more time to meet the company’s quality standards.
The lack of new Siri updates likely raised concerns that the company, which was slow to roll out its flagship Apple Intelligence software, is losing ground to other tech giants with artificial intelligence and that further delays could slow iPhone sales as consumers postpone their upgrade cycle. The company’s keynote presentation Monday delivered “slow but steady improvements to strategy,” Wedbush analysts said, “but overall [it was] a yawner.”
Apple stock is down 19% since the start of 2025, making it the weakest performer among members of the Magnificent Seven group of major technology companies, alongside Tesla (TSLA). Apple shares gained 0.6% on Tuesday to close at $202.67, after dropping 1.2% yesterday. Source: TradingView.com.
After rebounding from their early-April low, Apple shares have traded mostly sideways, with the price recently forming a rising wedge. The price then ran into selling pressure near the downward sloping 50-day moving average, potentially setting the stage for a continuation of the stock’s longer-term downtrend that started in late December.
Meanwhile, the relative strength index has struggled to reclaim its neutral threshold, signaling bearish price momentum.
Investors should watch important support levels on Apple’s chart around $193 and $180, while also monitoring resistance levels near $214 and $235.
Read the full technical analysis piece here.
–Timothy Smith
GameStop Slides in Extended Trading After Earnings Release3 hr 24 min ago GameStop (GME) shares fell in extended trading Tuesday as the retailer’s quarterly revenue declined.
The video game retailer’s revenue dropped 17% year-over-year to $732.4 million. The company swung to an adjusted profit of $83.1 million, or 17 cents per share, from a loss of $36.7 million, or 12 cents per share, a year ago. However, adjusted earnings were down from the $136.4 million, or 30 cents per share, GameStop reported a quarter earlier.
GameStop shares slid about 5% in after-hours trading. The stock was down 4% for 2025 through Tuesday’s close.
GameStop also said it has not bought any additional bitcoin (BTCUSD) since it disclosed last month the purchase of 4,710 bitcoin. The company did not reveal the purchase price at the time, but that amount of the cryptocurrency would be worth nearly $516 million at its recent price. In March, GameStop said it was planning to issue $1.3 billion in convertible bonds for “general corporate purposes,” including buying bitcoin.
–Andrew Kessel
IBM Hits Record as Company Touts Quantum Computing Plans4 hr 14 min ago IBM (IBM) shares hit an all-time high Tuesday as company showcased what it called a “viable path” to building the world’s first large-scale, “fault-tolerant” quantum computer by the end of the decade.
IBM shares rose 1.5% to close at $276.24, topping a record set just a day earlier. The company’s shares have climbed for eight consecutive sessions, adding roughly one-quarter of their value since the start of the year.
The computer, dubbed IBM Starling, is expected to be capable of performing 20,000 times the operations of quantum computers that exist today, according to IBM. Such a computer could “accelerate time and cost efficiencies in fields such as drug development, materials discovery, chemistry, and optimization,” the company said.
A fault-tolerant computer is able to suppress the errors that can occur as a result of running quantum computing operations, IBM said. Historically, correcting those errors at a large scale has presented engineering challenges.
IBM laid out milestones along the way to Starling in 2029, including the launch of IBM Quantum Loon later this year, which the company said is meant to test certain architectural components.
–Andrew Kessel
What to Expect from Wednesday’s Key Inflation Report4 hr 51 min ago Inflation likely rose in May after three months of declines, as President Donald Trump’s tariffs start to push up prices.The Bureau of Labor Statistics is scheduled to release the Consumer Price Index report on Wednesday. According to a survey of economists by Dow Jones Newswires and The Wall Street Journal, it’s likely to show that the key cost-of-living measure rose 2.4% over the last year, up from a 2.3% annual increase in April. “Core” inflation, which excludes volatile prices for food and energy, is expected to rise 2.9% over the year, up from 2.8% in April.The report could mark a turning point in the economy’s trajectory and be an early indicator in the “hard data” of the effects of the wide-ranging tariffs Trump imposed over the last few months. So far, “soft data” such as surveys have indicated businesses are raising prices and slowing down hiring because of the tariffs, but “hard data” such as official measures of inflation and job growth have been business-as-usual.”I expect the May CPI report to begin reflecting upward pressure on goods prices due to tariffs,” Ronald Temple, chief market strategist at Lazard, wrote in a commentary. “While companies are carefully avoiding attracting attention by announcing price increases or highlighting that they are a result of tariffs, they have to choose between raising prices to protect margins, cutting other costs to offset tariffs, or suffering lower margins and a weaker share price.”
One statistic included in the report will be especially useful for gauging the impact of tariffs.
A figure economists call “core goods” in the index measures prices of everything besides services, food, and energy. The Bureau of Labor Statistics calls the number “commodities less food and energy.” These prices will be the ones hit hardest by the tariffs, economists said.
Until this point, core goods had been a bright spot for household budgets, showing declines in prices every month from January 2024 through March 2025. But in April, the core goods index rose 0.1%, and forecasters expect that to go higher in May.”We expect a modest push from tariffs with firmer new cars, apparel, and other heavily tariffed goods such as household appliances,” Michael T. Gapen, chief U.S. economist at Morgan Stanley, wrote in a commentary.
The report could have implications for the nation’s monetary policy. Officials at the Federal Reserve closely watch inflation reports to see if prices are rising too fast: the Fed aims to keep inflation running at an annual rate of 2%. However, central bankers use the core measurement in the Personal Consumption Expenditures price index, not CPI, as their benchmark.Still, a rebound in CPI inflation could pressure the Fed to keep its benchmark interest rate higher for longer. Fed officials have held the influential fed funds rate flat, at a higher-than-usual level, this year out of concern that tariffs could push up prices and reignite inflation.”I do not expect the Fed to raise rates in response to tariff-induced inflation, but I also do not anticipate any rate cuts against a backdrop where core inflation is likely to rise to levels around 4%,” Temple wrote.
–Diccon Hyatt
These Analysts Have a New Stock Acronym. It’s ‘COW’5 hr 24 min ago The temptation to plug acronyms in this business—whether you’re an investor, analyst or someone who writes about such things—is powerful.
How powerful? Sufficiently so that just after we all learned what the “TACO Trade” was, some would have us already moving on to the next multi-letter term. (Meanwhile, some of us are old enough to remember when there was only one “A” in “FANG,” rather than however many there are now.)
If you’re sure you won’t chicken out, UBS suggests you have a “COW”—short for “Costco (COST), O’Reilly (ORLY) and Walmart (WMT),” referring to shares of the warehouse standout, the auto parts chain, and the retail giant, respectively. That’s its term, to be clear, not ours: Its research note title asks whether it’s “Best to Own the COW.”
“We think it makes sense to stick with these retail stocks for the foreseeable future,” the analysts wrote Tuesday. “This is because we believe Costco, O’Reilly, and Walmart will lead to steady outperformance over the long-term.”
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Their argument boils down to this: That “best-in-class” retailers can provide investors some safety in uncertain times; these companies can benefit from “periods of disruption,” taking share and growing sustainable sales; the businesses have invested in personnel, supply chains and e-commerce; and they have strong moats around their businesses.
“We see the biggest risk to the performance of these stocks being a significant reduction in interest rates,” they wrote. “In this case, the market might shift some capital to laggards or the stocks of retailers that might stand to outperform during a period of more robust economic activity.”
UBS has “buy” ratings on all three companies’ shares. “At the end of the day, we believe [the companies] offer steady, solid performance regardless of the surrounding and are poised to continue to grow and outperform the broader industry in the long term,” its analysts wrote.
Core & Main Stock Falls on Soft Outlook6 hr 7 min ago Core & Main (CNM) shares lost ground Tuesday as the water and sewer infrastructure provider missed profit estimates and warned that it sees a “flat” market for the year.
In the call with analysts, CFO Robyn Bradbury said that the company expects a lower second half of the year, and that “reflects the level of uncertainty given … the tariffs, the higher interest rates and affordability concerns and things like that,” according to a transcript provided by AlphaSense.
In addition, CEO Mark Witkowski said looking at the housing market, Core & Main is “beginning to see signs of softening in response to general economic conditions and affordability pressures.”
In the first quarter, the company reported earnings per share of $0.52, a penny below Visible Alpha forecasts. Revenue was up 10% year-over-year to $1.91 billion, better than expected.
Core & Main credited the revenue rise to higher volumes and acquisitions, boosted by increased demand for pipes, valves and fittings, storm drainage, and meter products. Sales declined for fire protection products, hurt by lower end-market volumes and falling prices.
Core & Main shares were down more than 2% in late trading. The stock is up about 14% year-to-date.
–Bill McColl
Novo Nordisk Climbs on Report Activist Building Stake6 hr 41 min ago The U.S.-listed shares of Danish drugmaker Novo Nordisk (NVO) rose Tuesday following a report that an activist investor is building a stake in the Ozempic maker.
Citing sources familiar with the matter, the Financial Times reported on Monday that Parvus Asset Management has bought up shares in Novo Nordisk, and is looking to influence the hiring of the drugmaker’s next CEO.
The fund has not disclosed the size of its stake because it is still under 5% of Novo Nordisk’s total shares, the legal threshold requiring disclosure under Danish law, the Financial Times reported. The Novo Nordisk Foundation nonprofit owns the majority of voting rights in the weight loss giant, which the FT reported could make any activist pressure campaign difficult.
Novo Nordisk’s U.S.-listed shares have lost nearly half their value in the last 12 months as sales growth for its landmark weight loss drugs Ozempic and Wegovy have started to slow. Studies have also shown that Eli Lilly’s (LLY) rival drugs, Mounjaro and Zepbound, are more effective at weight loss along with promising data for its next-generation drugs.
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Last month, Novo Nordisk cut its full-year sales and profit forecasts, and just over a week later announced that CEO Lars Fruergaard Jørgensen would step away from the company once it found a successor.
Novo Nordisk and Parvus did not immediately respond to Investopedia’s requests for comment.
Novo Nordisk’s U.S.-traded shares were up about 6% in afternoon trading Tuesday.
Cyberattack Disclosure Weighing on United Natural Foods 8 hr 14 min ago The fallout from a cyberattack continues to drag shares of United Natural Foods (UNFI), as a cautious outlook offset the food distribution company’s strong fiscal third-quarter results.
The stock price sank 7% Monday as United Natural Foods revealed the hacking disrupted operations. In its financial report, the company noted that because it’s unclear what the impact of the cyberattack will be, it was not updating guidance for any metrics other than GAAP net loss/gain and EPS “in spite of its underlying business momentum and third quarter out-performance.”
The stock was was down another 7% in afternoon trading on Tuesday.
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The company, a major supplier of Amazon’s (AMZN) Whole Foods Markets, now sees a full-year net loss of $55 million to $80 million, compared to the earlier expectation of a net loss of $13 million to a profit of $3 million. It anticipates a per-share loss of $0.90 to $1.30 versus the previous projection of a per-share loss of $0.15 to a per-share gain of $0.05. It said those reflected “costs and charges associated with exiting a customer contract and optimizing the Company’s distribution network in the Northeast.”
That news came as United Natural Foods posted fiscal third-quarter adjusted earnings per share (EPS) of $0.44, double what analysts surveyed by Visible Alpha were looking for. Net sales increased 7.5% year-over-year to $8.06 billion, also ahead of estimates.
In response to the online attack, CEO Sandy Douglas said the company was “focused on diligently managing through the cyber incident we announced yesterday to rapidly and safely restore our capabilities, while helping our customers with short-term solutions wherever possible.”
JM Smucker Plunges After Weak Results, Outlook8 hr 56 min ago Shares of The J.M. Smucker Co. (SJM) tumbled Tuesday to lead S&P 500 decliners after the snack maker reported worse fiscal 2025 fourth-quarter sales and fiscal 2026 profit projections than analysts had expected.
The maker of its namesake jellies and jams, JIF peanut butter, Folgers coffee, and several other snack and pet food products reported adjusted earnings per share (EPS) of $2.31 on net sales that decreased 3% year-over-year to $2.14 billion. Analysts had expected $2.24 and $2.19 billion, respectively, according to estimates compiled by Visible Alpha.
Sales rose 11% to $738.6 million in the company’s U.S. Retail Coffee segment and 3% to $308.9 million in the International and Away From Home division; were flat at $449.8 million in the U.S. Retail Frozen Handheld and Spreads segment; and declined 26% to $251.0 million in Sweet Baked Snacks and 13% to $395.5 in U.S. Retail Pet Food.
Analysts had expected a sales decline in Smucker’s Sweet Baked Snacks and U.S. Retail Pet Foods segments, with gains projected in the U.S. Retail Coffee, U.S. Retail Frozen Handheld and Spreads, and International and Away From Home divisions.
J.M. Smucker shares were down 14% around midday, pushing the stock into negative territory for the year.
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Smucker laid out initial fiscal 2026 projections, guiding for adjusted EPS of $8.50 to $9.50—down from $10.12 in fiscal 2025—and sales growing by 2% to 4% from $8.73 billion in its recently completed fiscal year. Analysts currently expect adjusted EPS of $10.28 and revenue to grow by about 2%.
The company said it “continues to operate in a dynamic and evolving external environment, including tariffs and related trade impacts, regulatory and policy changes, ongoing input inflation, and changes in consumer behaviors that impact its fiscal year 2026 outlook.” The projections are “based on its current understanding of these factors,” Smucker said.
Apple’s WWDC Was a ‘Yawner’, Wedbush Says10 hr 6 min ago Apple (AAPL) is late to the artificial intelligence party. That’s what Wedbush analysts said after the company’s Worldwide Developers Conference keynote didn’t include a specific timeline for AI-enhanced Siri features that investors had been waiting for.
The iPhone maker “is playing it safe and close to the vest after the missteps last year,” Wedbush wrote, referencing an ambitious presentation at WWDC 2024 that showcased a supercharged Siri assistant handling more complex tasks using AI. Apple Senior Vice President of Software Engineering Craig Federighi said during Monday’s keynote that there’s more work to do, and that more information will be released in the coming year.
Still, Apple did plant the seeds of its AI strategy by releasing a software development kit that will allow developers to build apps using the large language models within Apple Intelligence, Wedbush noted. The WWDC keynote showcased “slow but steady improvements to strategy,” the analysts said. “But overall [it was] a yawner.”
Goldman Sachs analysts said that while the lack of Siri updates “may have been underwhelming,” incremental improvements such as the new “liquid glass” iOS redesign and features like AI-powered live translation should help keep users from switching to competitors’ hardware.2
Wedbush and Goldman maintained bullish price targets of $270 and $253, respectively. Meanwhile, UBS reiterated its $210 target, and JPMorgan stayed at $240. Apple shares lost about 1% Monday after the WWDC keynote, but were up more than 1% in recent trading Tuesday at around $204.
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Shares of Apple have struggled this year, falling by roughly a fifth in 2025 amid concerns over the impact of tariffs and fears Apple could be falling behind in the AI race. Last month, ChatGPT maker OpenAI took what could be seen as a step toward competing with Apple in offering AI devices with plans to acquire io, an AI startup launched by former Apple design head Jony Ive.
TSMC Rises as Chipmaker Reports Big Jump in Revenue11 hr 22 min ago Taiwan Semiconductor Manufacturing Co. (TSM), the world’s largest contract chipmaker, reported May revenue surged nearly 40% year-over-year as demand remained elevated for its AI chips.
The U.S.-listed shares of the company, which supplies tech heavyweights such as Apple (AAPL) and Nvidia (NVDA), rose more than 3% in early trading. They entered Tuesday up 5% so far this year.
TSMC reported May revenue of 320.52 billion New Taiwan dollars ($10.70 billion), up 39.6% from a year earlier but down 8% from April’s figure. January-to-May revenue of NT$1.51 trillion was up nearly 43% over the same period last year.
In March, TSMC CEO C.C. Wei joined President Donald Trump in announcing that the firm intends to invest $100 billion in U.S.-based chip-manufacturing facilities. In the company’s first-quarter earnings call in April, Wei affirmed TSMC’s projection of “full-year 2025 revenue to increase by close to mid-20s percent in U.S. dollar terms.”
–Nisha Gopalan
AMD Levels to Watch as Stock at Highest Level Since January11 hr 54 min ago Advanced Micro Devices (AMD) shares will likely remain in focus after hitting their highest level since January on Monday, lifted by optimism that trade discussions between the U.S. and China could lead to reduced export curbs.
In April, AMD cautioned its results would be affected by charges of roughly $800 million related to tightening restrictions on sales of its chips to China, while rival AI behemoth (NVDIA) warned it would take a potential $5.5 billion charge related to limits on exports of its H20 chip.
Investors will learn more about AMD’s plans for artificial intelligence at the company’s “Advancing AI” event on Thursday, which features a keynote address from CEO Lisa Su.
AMD shares were down slightly in premarket trading after gaining nearly 5% on Monday to close at around $122. The stock has risen nearly 60% from its early April-low, putting it back to where it started 2025.
After breaking out from a descending broadening formation last month, AMD shares have traded mostly sideways just below the closely watched 200-day moving average. Source: TradingView.com.
More recently, the stock’s price has nudged toward the May high, a move that has coincided with the relative strength index indicating strengthening price momentum. It’s also worth pointing out that the shares registered their highest trading volume in nearly a month on Monday, indicating growing interest in the chipmaker’s stock.
Investors should monitor major overhead areas on AMD’s chart around $123, $145 and $175, while also watching a key support level near $108.
Read the full technical analysis piece here.
–Timothy Smith
Major Index Futures Inch Higher12 hr 40 min ago Futures tied to the Dow Jones Industrial Average were up 0.1%.
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S&P 500 futures added 0.2%.
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Nasdaq 100 futures were also up 0.2%.
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