Stocks are lower at midday, putting in jeopardy the six-day winning streak for the S&P 500. Federal Reserve officials’ commentary is anticipated to provide insights into the central bank’s outlook on inflation and interest rates, while markets continue digesting the implications of Moody’s recent downgrade of the U.S. sovereign credit rating, which has heightened concerns about the nation’s fiscal health as lawmakers debate President Trump’s “big, beautiful” tax bill.
Looking ahead, investors are awaiting earnings reports from major retailers such as Target, Lowe’s, and TJX, which are expected to provide further insights into consumer spending trends amid ongoing tariff impacts following this morning’s report from Home Depot and last week’s quarterly update from Walmart.
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
Home Depot (HD) maintained its guidance for the fiscal year after comparable sales in the U.S. increased 0.2% in Q1
Intel (INTC) has considered divesting its network and edge businesses as the company looks to cut parts of the company its new CEO does not see as crucial, Reuters reports
Pfizer (PFE) said it would license an experimental cancer treatment from China’s 3SBio
Levi Strauss (LEVI) announced a deal to sell the Dockers brand to Authentic Brands Group
Amer Sports (AS), the maker of Wilson tennis rackets and Salomon ski boots, boosted its adjusted profit forecast for the full year
2. WALL STREET CALLS:
Asana (ASAN) downgraded to Underweight at Morgan Stanley
Loop downgraded MongoDB (MDB) on “lackluster” Atlas adoption
AES Corp. (AES) downgraded to Underperform at Jefferies
3. AROUND THE WEB:
The DOJ has opened a probe into a recent breach at Coinbase (COIN), involving criminals bribing employees and contractors in India to obtain client data, Bloomberg says
An internal Google (GOOGL) document reveals that the company considered giving publishers more control over how their content is used to train AI models, but ultimately chose not to, Bloomberg reports
Nintendo (NTDOY) is partnering with Samsung (SSNLF) to produce the main chips for the Switch 2, which may help Nintendo sell more than 20 million units by March next year, Bloomberg says
Builder.ai, a U.K. technology start-up backed by Microsoft (MSFT), is entering bankruptcy proceedings after admitting “problems” under its past leadership and restating its revenues, FT reports
General Motors (GM) has halted exports of a small number of U.S.-made vehicles to China as a result of tariffs, NY Post says
finance.yahoo.com
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