U.S. stocks rose at midday following lower-than-expected consumer inflation data for May and a new trade agreement between the U.S. and China. The Dow Jones Industrial Average, S&P 500, and Nasdaq all posted gains.
General Motors shares climbed after the company announced a $4 billion investment to expand three plants, aligning with President Donald Trump’s push for increased domestic manufacturing. Dave & Buster’s Entertainment saw its shares surge after the CEO reported positive business trends.
GE Vernova shares rose as Bank of America raised its price target, anticipating higher U.S. power demand. In contrast, Lockheed Martin shares fell after the Pentagon cut orders for its F-35 fighter jets.
Victoria’s Secret shares declined after the company lowered its operating income forecast due to expected tariff-related costs. Solar panel provider Sunrun also dropped following a downgrade from Jefferies, which cited concerns over residential solar demand if federal incentives end.
Oil and gold futures increased, while the yield on the 10-year Treasury note fell. The U.S. dollar weakened against the euro, pound, and yen. Most major cryptocurrencies saw price gains.
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