M&S Expects Cyberattack Impact to Be Over By August, CEO Says
'I'm really hoping by August the majority of this is behind us and customers will see the full M&S,' Machin told shareholders at the British retailer's annual general meeting on Tuesday. 'Within the next four weeks, we're aiming for the whole of online to be fully restored and open.'
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10 minutes ago
- Yahoo
Why NuScale Power Stock Sank 8.7% Today
Google announced a multibillion-dollar deal with nuclear fusion start-up Commonwealth Fusion Systems to secure 200 megawatts of power by the 2030s. Fusion is an experimental form of nuclear energy that promises to deliver clean, safe, bountiful power. 10 stocks we like better than NuScale Power › Shares of NuScale Power (NYSE: SMR) sank on Tuesday, finishing the day down 8.7%. The drop comes as the S&P 500 and Nasdaq Composite lost 0.2% and 0.9%, respectively. The Wall Street Journal reported that Alphabet's Google has signed a major deal with a nuclear fusion company. Google has signed a multibillion-dollar deal with Commonwealth Fusion System (CFS), a nuclear fusion start-up backed by Bill Gates. The deal will see Google secure 200 megawatts from CFS's first plant in Virginia by the 2030s. Nuclear fusion, in contrast to today's fission-based systems like those of NuScale, produces significantly more power and is safe and clean -- no spent nuclear material to dispose of and no risk of a meltdown. It has long been the holy grail of energy production but has so far eluded scientists. However, recent developments indicate it could be a reality in the next decade or so. Scientists have thought fusion technology was a decade or so away for decades. The investment from Google makes sense because of the upside, but you can bet that Google is hedging its bet with more realistic plans to meet its energy needs today and in the near future. NuScale Power's small model reactors (SMRs) make a lot of sense to fill that need in the near term. That being said, the company is still developing the technology. If you have significant risk tolerance, NuScale could be a good addition, but know that the stock will likely see a lot of volatility and is currently extremely pricey. Before you buy stock in NuScale Power, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and NuScale Power wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $722,181!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $968,402!* Now, it's worth noting Stock Advisor's total average return is 1,069% — a market-crushing outperformance compared to 177% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 30, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy. Why NuScale Power Stock Sank 8.7% Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13 minutes ago
- Yahoo
Stock market today: Dow jumps, Nasdaq slides as Trump tax bill sails through Senate
US stocks were mixed on Tuesday as President Trump's massive budget bill passed in the Senate and Wall Street watched for progress on trade talks. The S&P 500 (^GSPC) closed down 0.1%, pulling back from a record close after finishing above 6,200 for the first time on Monday. The tech-heavy Nasdaq Composite (^IXIC) fell around 0.7%, with Tesla (TSLA) stock sliding 5% as CEO Elon Musk's feud with Trump flared up again. The Dow Jones Industrial Average (^DJI) rose about 1%, largely led by a pop in healthcare stocks including United Healthcare (UNH), which rose 4.5%. Senate lawmakers voted 50-50, with Vice President JD Vance breaking the tie, to pass Trump's signature tax and spending bill, racing to meet the president's desired July 4 deadline. The bill now goes back to the House, which will vote on the Senate's changes. Republicans wrangled over the bill's measures overnight, including one amendment that passed with strong bipartisan support: A strike-down of the ban on state-level AI regulation. They also ended up slightly softening a phase out of clean-energy tax credits. Another looming deadline has prompted the US to scale back Trump's push for full-blown "reciprocal" deals with trading partners, the Financial Times reported. Instead, officials are racing to find narrower agreements before July 9, when the president's sweeping "reciprocal" tariffs are set to resume. Read more: The latest on Trump's tariffs Meanwhile, investors closely watched commentary from Fed Chair Jerome Powell and labor market data as debate intensifies over when the Federal Reserve could cut interest rates. Jerome Powell spoke about the Fed's policy stance at an ECB forum in Portgual on Tuesday, fresh from another Trump attack pushing the Federal Reserve chair to slash interest rates to 1% — a huge 250-point reduction. Powell remarked that tariffs are causing the central bank to take its time before cutting interest rates, but he said the US economy remains healthy overall. Fresh data Tuesday showed job openings rose more than expected in May. The hiring and quits rates remain near decade lows, reflecting what economists have described as a labor market in "stasis." The Dow Jones Industrial Average (^DJI) was the lone major index in the green on Tuesday led by several healthcare stocks catching bids. UnitedHealthcare (UNH) stock, which had been the worst performer in the Dow this year and down more than 35% to start 2025, rose about 4.5% on Tuesday. Tuesday's market action proved to be positive for a slew of laggards through the first half of this year. The small-cap Russell 2000 Index (^RUT), which had underperformed all three major averages through the first six months of this year, rose more than 1% on Tuesday. Below is a look at how every Dow component performed on Tuesday. Stocks staged a historic comeback from their April lows, finishing the first half of the year on a high note with the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) securing back-to-back all-time records. A large part of the market's gains has hinged on easing geopolitical tensions and tariff-related deescalations, including the emergence of the so-called TACO trade, an acronym for "Trump Always Chickens Out." The phrase captures a belief among some investors that the president often talks tough on tariffs but rarely follows through. That assumption has helped fuel a tailwind for markets in recent months as traders increasingly bet on last-minute policy pivots. Trade deal frameworks with China and the UK are reportedly now on the table ahead of Trump's self-imposed July 9 deadline. This has led investors to price in a "Goldilocks scenario" for stocks, with sustained earnings growth, little effects from tariffs, and rate cuts from the Federal Reserve. But Wall Street pros are signaling caution as they assess the path forward, which still includes many unknowns. "Just as Goldilocks awoke from her sleep to confront three bears, there are several areas where this optimism is likely to be challenged," JPMorgan's economics and policy team, led by Bruce Kasman, wrote in a recent client note. Kasman cautioned investors not to "get carried away by inflation momentum," warning that tariffs are still set to rise despite ongoing trade negotiations. This will add pressure to a US economy already grappling with softer consumer demand and signs of stalling global factory activity. "The economy is entering the second half of the year on wobbly footing," Comerica Bank chief economist Bill Adams added. Read more here. The latest Job Openings and Labor Turnover Survey (JOLTS) released on Tuesday showed 7.76 million jobs were open at the end of the May, the highest level since November 2024. After several signs of slowing in the labor market have emerged over the past months in areas like continuing unemployment claims and slowing hiring, Tuesday's data reminds us that there's a bit of something for everyone in the current economic data being analyzed as investors debate when the Federal Reserve will cut interest rates next. Tuesday's data suggested the labor market remained "healthy" in May, Capital Economics North America economist Alexandra Brown wrote in a note to clients on Tuesday. Oxford Economics lead US economist Nancy Vanden Houten wrote in a note that there was "nothing" in the May JOLTS report to shake the Fed's patient approach. But Vanden Houten noted that when the Fed does cut the "risk is growing" that the Fed's next interest rate cut is a 50 basis point move rather than 25 basis points. Solar stocks rallied in afternoon trade after the Senate voted to remove an excise tax on wind and solar projects from President Trump's $3.3 trillion tax bill. Shares of Sunrun (RUN) surged roughly 10% in afternoon trading. Enphase Energy (ENPH), one of the worst-performing stocks this year, climbed about 4%, while SolarEdge Technologies (SEDG) gained approximately 7% shortly after the news broke. Senate leaders pushed the bill closer to passage in a highly anticipated vote on Tuesday. As Yahoo Finance's Ben Werschkul reported, the measure passed with a 50-50 split in the Senate, with three Republican defections. Vice President JD Vance cast the tie-breaking vote in favor of the bill, which marked a significant win for the solar and wind energy sectors. Here's why: The bill originally included a new tax on wind and solar projects using a certain amount of parts made in China. Some US manufacturers supported this to reduce dependence on China. But renewable energy developers warned it would raise costs for their projects because many still rely on Chinese parts. To note, the bill still plans to gradually end subsidies for new wind and solar projects starting after 2027, despite some Republican efforts to delay that cutoff. Circle (CRCL) has formally applied with the Office of the Comptroller of the Currency (OCC) to get a national trust bank charter, the company said Tuesday. Shares of the stablecoin issuer gained 2.8% in afternoon trading after opening in the red. The stock is up 500% since its June 5 IPO. Yahoo Finance's David Hollerith reports: Read more here. Senate Republicans were able to push President Trump's signature tax legislation over the line to pass it by a thin margin. Yahoo Finance's Ben Werschkul breaks down the Senate's changes to the complex, nearly 900-page bill that are set to reshape the US economy. Here are three major impacts to businesses and the economy: Changes for both the individual and corporate tax structure: A focus on energy: Final-hour healthcare changes: Read more here about the bill's impacts on taxes and more. US stocks remained a mixed bag on Tuesday after Senate lawmakers voted to advance President Trump's tax and spending bill. Vice President JD Vance broke the 50-50 tie to pass the bill after Republican lawmakers pulled an all-nighter to make several last-minute changes and break through Democratic opposition and the Senate's thin margins. The "big, beautiful bill" now heads to the House for a vote on the Senate's changes. The S&P 500 (^GSPC) briefly pared some losses but didn't break into positive territory following the news. The benchmark index was down 0.1% in midafternoon trading. The tech-heavy Nasdaq Composite (^IXIC) led losses, falling around 0.8%, as Tesla (TSLA) stock fell more than 4% after a feud between Elon Musk and Trump flared up again. The Dow Jones Industrial Average (^DJI), on the other hand, rose over 1% in afternoon trading. The Institute for Supply Management's (ISM) manufacturing PMI registered a reading of 49 in June, up slightly from May's reading of 48.5 Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. The manufacturing sector has been in contraction for most of the past two years. The price paid index, which is seen as a potential indicator of future prices increases that will passed on by businesses, increased to 69.7 up from 69.4 the month prior. Meanwhile, the employment index registered a reading of 45%, down from 46.8% in May. "Despite the modest gain in the ISM manufacturing index in June, the details of the report point to continued struggles for domestic manufacturers," Oxford Economics senior economist Matthew Martin wrote in a note to clients. "Demand uncertainty and bartering over who foots the tariff bill are leading to delays or cancellations in orders. Until tariff policies and geopolitical issues fade, this is unlikely to change." Shares of struggling chipmaker Wolfspeed (WOLF) climbed 11% Tuesday, though the stock was priced at less than $1 as the company filed for Chapter 11 bankruptcy. The North Carolina-based semiconductor firm was building a $5 billion plant that would employ 1,800 workers in the state with funding from the CHIPS Act. Delays in receiving its funding from the Trump administration have amplified the company's financial challenges. Wolfspeed said in a statement Monday that it's looking to slash $4.6 billion from its debt pile through a creditor-backed restructuring plan. "By taking this proactive step, the Company expects to be better positioned to execute on its long-term growth strategy and accelerate its path to profitability," the company said. CEO Robert Feurle added, 'Looking ahead, we remain laser-focused on delivering cutting-edge products to our customers and working with our vendors in the normal course." Apple (AAPL) stock jumped 2% Tuesday following a report from Bloomberg that the iPhone maker is considering using AI technology from startups Anthropic ( or OpenAI ( to power a new version of Siri. Apple has spoken to both companies about using their large language models for its voice assistant, Bloomberg wrote, citing unnamed sources. Apple has struggled to catch up to its peers on AI, and its efforts to launch a new AI-powered Siri have fallen flat. Shares of the company have lagged behind its "Magnificent Seven" peers, save for Tesla (TSLA), and are down 16% in 2025. Robinhood (HOOD) shares jumped as analysts issued bullish notes on the stock following its launch of new crypto services at an event Monday. 'HOOD's incredible product velocity makes it hard to keep up with innovation,' Mizuho analyst Dan Dolev wrote in a note to clients Tuesday, upgrading his price target on the stock to $99 from $80. Shares traded around $96 on Tuesday morning. KeyBanc analyst Alex Markgraff also raised his price target on the stock to $110 from $60 following the event, according to Bloomberg data. Robinhood stock is up nearly 158% in 2025 as crypto-related stocks have rallied on the heels of President Trump's election. Trump has favored deregulation of the fraud-ridden crypto industry, unlike his predecessor, Joe Biden. Coinbase (COIN) has risen 40% this year, while bitcoin treasury company Strategy (MSTR) is up 34%. Bitcoin (BTC-USD) itself is up 13% in 2025. Job openings rose more than expected in May while investors closely watch for any signs of slowing in the labor market as debate over when the Federal Reserve could cut interest rates again intensifies. New data from the Bureau of Labor Statistics showed 7.76 million jobs open at the end of May, an increase from the 7.39 million seen the month prior and the highest level since November 2024. The April figure was revised higher by 4,000 from the 7.39 million open jobs initially reported. Economists surveyed by Bloomberg had expected Tuesday's report to show 7.3 million openings in May. The Job Openings and Labor Turnover Survey (JOLTS) also showed that 5.5 million hires were made during the month, down from the 5.61 million made during April. The hiring rate ticked lower to 3.4% from 3.5%. In one sign that workers remain cautious about labor market conditions, the quits rate, a sign of confidence among workers, moved up to 2.1% from 2% in April. Still, both the hiring and quits rates are hovering near decade lows, reflecting what economists have described as a labor market in "stasis." Read more here. Federal Reserve Chair Jerome Powell has begun speaking about the Fed's policy stance at an ECB forum in Sintra, Portugal, where he said that tariffs are causing the central bank to take its time before cutting interest rates. When asked if the Fed would have cut interest rates by more by now if it weren't for higher tariffs, Powell stated, "I think that's right." "In effect, we went on hold when we saw the size of the tariffs," Powell continued. "Essentially, all inflation forecasts for the United States went up materially as a consequence of the tariffs." Powell noted that the US economy remains healthy overall but that he expects to see the effects of tariffs filter through the economic data in the coming months. In recent days, Powell has faced increased pressure, including in the form of handwritten notes, from President Trump to lower interest rates. "Ignore the tariffs for a second," Powell said of the economy. "Inflation is behaving pretty much exactly as we have expected and hoped that it would. We haven't seen effects much yet from tariffs, and we didn't expect to by now." Watch Powell speak live below: US stocks pulled back from record highs Tuesday morning as President Trump's massive budget bill made its way through the Senate and investors looked for progress on trade talks ahead of the July 9 deadline. The S&P 500 (^GSPC) dropped about 0.3% after closing above 6,200 for the first time on Monday, while the Dow Jones Industrial Average (^DJI) traded roughly flat. The tech-heavy Nasdaq Composite (^IXIC) fell 0.4%, with Tesla (TSLA) stock plummeting more than 7% as CEO Elon Musk's feud with Trump reignited. Nvidia (NVDA) fell 1% and Meta (META) dropped fractionally after the two members of the "Magnificent Seven" hit fresh records the prior day. Tesla (TSLA) stock sank as much as 6% before the market open Tuesday as the feud between CEO Elon Musk and President Trump reignited overnight, with the president once again threatening to cut government subsidies across Elon Musk's businesses, including Tesla and SpaceX ( 'Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa,' Trump wrote on his social media platform Truth Social early Monday. 'No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!' The threats followed Musk's criticism of Trump's "big, beautiful" tax and spending bill over the weekend after the Senate advanced the bill with last-minute additions that would eliminate electric vehicle tax credits, which benefit Tesla customers, earlier than expected and add $1 trillion to the bill's original price tag. Read the full story here. The 10-year Treasury yield (^TNX) fell about 2 basis points to 4.20% on Tuesday — hitting its lowest level in two months — ahead of Fed Chair Jerome Powell's speech today at the ECB forum in Sintra, Portugal. Powell will join a panel of central bankers at the ECB forum to discuss the Federal Reserve's policy stance as pressure from the White House to cut interest rates has ratcheted up. On Monday, Trump sent Powell a signed note that lambasted the Fed chair for not slashing rates. Bloomberg reports: Read more: What is the 10-year Treasury note, and how does it affect your finances? AI chip stocks, including Nvidia (NVDA), fell across the board, and Big Tech names were little changed premarket after an artificial intelligence provision was stripped from President Trump's "big, beautiful bill" overnight. In a middle-of-the-night push to pass the megabill, Senate Republicans dropped the ban on state regulations of AI for a decade, which had gained support in Silicon Valley. The idea appeared to be dead after Sen. Marsha Blackburn of Tennessee turned against a compromise plan Monday evening. Yahoo Finance's Ben Werschkul reports: Read more here. From President Trump's tariffs to the Federal Reserve rate cut saga, the US stock market has just completed a roller-coaster first half of the year. The S&P 500 (^GSPC) is up 5% year to date, rebounding from its April slump after Trump's "Liberation Day" tariffs were announced. But what should investors watch for in the second half of 2025? Here's a look at six key questions facing US stock investors at the start of the second half. Reuters reports: Read more here. Yahoo Finance's Hamza Shaban reports in today's Morning Brief: Read more here on how these stocks tell investors about stock trading in 2025. Earnings: Constellation Brands (STZ) Economic data: JOLTS Job Openings (May); ISM manufacturing (June); Construction spending (May); Dallas Fed services activity; S&P Global US manufacturing PMI (June) Here are some of the biggest stories you may have missed overnight and early this morning: Trump repeats Tesla subsidy threat after Musk bashes megabill Senate kills ban on AI regulation as it pulls all-nighter on tax bill Trump pulls back from big trade deals as deadline looms How Boeing, Walmart, and Tesla tell the stock story of 2025 6 questions for US stock investors as 2025's second half begins Homes are taking longer to sell in US market that once flourished Tesla sales drop over 60% in Sweden and Denmark Chinese AI chipmakers plan $1.7B IPOs thanks to US curbs The Dow Jones Industrial Average (^DJI) was the lone major index in the green on Tuesday led by several healthcare stocks catching bids. UnitedHealthcare (UNH) stock, which had been the worst performer in the Dow this year and down more than 35% to start 2025, rose about 4.5% on Tuesday. Tuesday's market action proved to be positive for a slew of laggards through the first half of this year. The small-cap Russell 2000 Index (^RUT), which had underperformed all three major averages through the first six months of this year, rose more than 1% on Tuesday. Below is a look at how every Dow component performed on Tuesday. Stocks staged a historic comeback from their April lows, finishing the first half of the year on a high note with the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) securing back-to-back all-time records. A large part of the market's gains has hinged on easing geopolitical tensions and tariff-related deescalations, including the emergence of the so-called TACO trade, an acronym for "Trump Always Chickens Out." The phrase captures a belief among some investors that the president often talks tough on tariffs but rarely follows through. That assumption has helped fuel a tailwind for markets in recent months as traders increasingly bet on last-minute policy pivots. Trade deal frameworks with China and the UK are reportedly now on the table ahead of Trump's self-imposed July 9 deadline. This has led investors to price in a "Goldilocks scenario" for stocks, with sustained earnings growth, little effects from tariffs, and rate cuts from the Federal Reserve. But Wall Street pros are signaling caution as they assess the path forward, which still includes many unknowns. "Just as Goldilocks awoke from her sleep to confront three bears, there are several areas where this optimism is likely to be challenged," JPMorgan's economics and policy team, led by Bruce Kasman, wrote in a recent client note. Kasman cautioned investors not to "get carried away by inflation momentum," warning that tariffs are still set to rise despite ongoing trade negotiations. This will add pressure to a US economy already grappling with softer consumer demand and signs of stalling global factory activity. "The economy is entering the second half of the year on wobbly footing," Comerica Bank chief economist Bill Adams added. Read more here. The latest Job Openings and Labor Turnover Survey (JOLTS) released on Tuesday showed 7.76 million jobs were open at the end of the May, the highest level since November 2024. After several signs of slowing in the labor market have emerged over the past months in areas like continuing unemployment claims and slowing hiring, Tuesday's data reminds us that there's a bit of something for everyone in the current economic data being analyzed as investors debate when the Federal Reserve will cut interest rates next. Tuesday's data suggested the labor market remained "healthy" in May, Capital Economics North America economist Alexandra Brown wrote in a note to clients on Tuesday. Oxford Economics lead US economist Nancy Vanden Houten wrote in a note that there was "nothing" in the May JOLTS report to shake the Fed's patient approach. But Vanden Houten noted that when the Fed does cut the "risk is growing" that the Fed's next interest rate cut is a 50 basis point move rather than 25 basis points. Solar stocks rallied in afternoon trade after the Senate voted to remove an excise tax on wind and solar projects from President Trump's $3.3 trillion tax bill. Shares of Sunrun (RUN) surged roughly 10% in afternoon trading. Enphase Energy (ENPH), one of the worst-performing stocks this year, climbed about 4%, while SolarEdge Technologies (SEDG) gained approximately 7% shortly after the news broke. Senate leaders pushed the bill closer to passage in a highly anticipated vote on Tuesday. As Yahoo Finance's Ben Werschkul reported, the measure passed with a 50-50 split in the Senate, with three Republican defections. Vice President JD Vance cast the tie-breaking vote in favor of the bill, which marked a significant win for the solar and wind energy sectors. Here's why: The bill originally included a new tax on wind and solar projects using a certain amount of parts made in China. Some US manufacturers supported this to reduce dependence on China. But renewable energy developers warned it would raise costs for their projects because many still rely on Chinese parts. To note, the bill still plans to gradually end subsidies for new wind and solar projects starting after 2027, despite some Republican efforts to delay that cutoff. Circle (CRCL) has formally applied with the Office of the Comptroller of the Currency (OCC) to get a national trust bank charter, the company said Tuesday. Shares of the stablecoin issuer gained 2.8% in afternoon trading after opening in the red. The stock is up 500% since its June 5 IPO. Yahoo Finance's David Hollerith reports: Read more here. Senate Republicans were able to push President Trump's signature tax legislation over the line to pass it by a thin margin. Yahoo Finance's Ben Werschkul breaks down the Senate's changes to the complex, nearly 900-page bill that are set to reshape the US economy. Here are three major impacts to businesses and the economy: Changes for both the individual and corporate tax structure: A focus on energy: Final-hour healthcare changes: Read more here about the bill's impacts on taxes and more. US stocks remained a mixed bag on Tuesday after Senate lawmakers voted to advance President Trump's tax and spending bill. Vice President JD Vance broke the 50-50 tie to pass the bill after Republican lawmakers pulled an all-nighter to make several last-minute changes and break through Democratic opposition and the Senate's thin margins. The "big, beautiful bill" now heads to the House for a vote on the Senate's changes. The S&P 500 (^GSPC) briefly pared some losses but didn't break into positive territory following the news. The benchmark index was down 0.1% in midafternoon trading. The tech-heavy Nasdaq Composite (^IXIC) led losses, falling around 0.8%, as Tesla (TSLA) stock fell more than 4% after a feud between Elon Musk and Trump flared up again. The Dow Jones Industrial Average (^DJI), on the other hand, rose over 1% in afternoon trading. The Institute for Supply Management's (ISM) manufacturing PMI registered a reading of 49 in June, up slightly from May's reading of 48.5 Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. The manufacturing sector has been in contraction for most of the past two years. The price paid index, which is seen as a potential indicator of future prices increases that will passed on by businesses, increased to 69.7 up from 69.4 the month prior. Meanwhile, the employment index registered a reading of 45%, down from 46.8% in May. "Despite the modest gain in the ISM manufacturing index in June, the details of the report point to continued struggles for domestic manufacturers," Oxford Economics senior economist Matthew Martin wrote in a note to clients. "Demand uncertainty and bartering over who foots the tariff bill are leading to delays or cancellations in orders. Until tariff policies and geopolitical issues fade, this is unlikely to change." Shares of struggling chipmaker Wolfspeed (WOLF) climbed 11% Tuesday, though the stock was priced at less than $1 as the company filed for Chapter 11 bankruptcy. The North Carolina-based semiconductor firm was building a $5 billion plant that would employ 1,800 workers in the state with funding from the CHIPS Act. Delays in receiving its funding from the Trump administration have amplified the company's financial challenges. Wolfspeed said in a statement Monday that it's looking to slash $4.6 billion from its debt pile through a creditor-backed restructuring plan. "By taking this proactive step, the Company expects to be better positioned to execute on its long-term growth strategy and accelerate its path to profitability," the company said. CEO Robert Feurle added, 'Looking ahead, we remain laser-focused on delivering cutting-edge products to our customers and working with our vendors in the normal course." Apple (AAPL) stock jumped 2% Tuesday following a report from Bloomberg that the iPhone maker is considering using AI technology from startups Anthropic ( or OpenAI ( to power a new version of Siri. Apple has spoken to both companies about using their large language models for its voice assistant, Bloomberg wrote, citing unnamed sources. Apple has struggled to catch up to its peers on AI, and its efforts to launch a new AI-powered Siri have fallen flat. Shares of the company have lagged behind its "Magnificent Seven" peers, save for Tesla (TSLA), and are down 16% in 2025. Robinhood (HOOD) shares jumped as analysts issued bullish notes on the stock following its launch of new crypto services at an event Monday. 'HOOD's incredible product velocity makes it hard to keep up with innovation,' Mizuho analyst Dan Dolev wrote in a note to clients Tuesday, upgrading his price target on the stock to $99 from $80. Shares traded around $96 on Tuesday morning. KeyBanc analyst Alex Markgraff also raised his price target on the stock to $110 from $60 following the event, according to Bloomberg data. Robinhood stock is up nearly 158% in 2025 as crypto-related stocks have rallied on the heels of President Trump's election. Trump has favored deregulation of the fraud-ridden crypto industry, unlike his predecessor, Joe Biden. Coinbase (COIN) has risen 40% this year, while bitcoin treasury company Strategy (MSTR) is up 34%. Bitcoin (BTC-USD) itself is up 13% in 2025. Job openings rose more than expected in May while investors closely watch for any signs of slowing in the labor market as debate over when the Federal Reserve could cut interest rates again intensifies. New data from the Bureau of Labor Statistics showed 7.76 million jobs open at the end of May, an increase from the 7.39 million seen the month prior and the highest level since November 2024. The April figure was revised higher by 4,000 from the 7.39 million open jobs initially reported. Economists surveyed by Bloomberg had expected Tuesday's report to show 7.3 million openings in May. The Job Openings and Labor Turnover Survey (JOLTS) also showed that 5.5 million hires were made during the month, down from the 5.61 million made during April. The hiring rate ticked lower to 3.4% from 3.5%. In one sign that workers remain cautious about labor market conditions, the quits rate, a sign of confidence among workers, moved up to 2.1% from 2% in April. Still, both the hiring and quits rates are hovering near decade lows, reflecting what economists have described as a labor market in "stasis." Read more here. Federal Reserve Chair Jerome Powell has begun speaking about the Fed's policy stance at an ECB forum in Sintra, Portugal, where he said that tariffs are causing the central bank to take its time before cutting interest rates. When asked if the Fed would have cut interest rates by more by now if it weren't for higher tariffs, Powell stated, "I think that's right." "In effect, we went on hold when we saw the size of the tariffs," Powell continued. "Essentially, all inflation forecasts for the United States went up materially as a consequence of the tariffs." Powell noted that the US economy remains healthy overall but that he expects to see the effects of tariffs filter through the economic data in the coming months. In recent days, Powell has faced increased pressure, including in the form of handwritten notes, from President Trump to lower interest rates. "Ignore the tariffs for a second," Powell said of the economy. "Inflation is behaving pretty much exactly as we have expected and hoped that it would. We haven't seen effects much yet from tariffs, and we didn't expect to by now." Watch Powell speak live below: US stocks pulled back from record highs Tuesday morning as President Trump's massive budget bill made its way through the Senate and investors looked for progress on trade talks ahead of the July 9 deadline. The S&P 500 (^GSPC) dropped about 0.3% after closing above 6,200 for the first time on Monday, while the Dow Jones Industrial Average (^DJI) traded roughly flat. The tech-heavy Nasdaq Composite (^IXIC) fell 0.4%, with Tesla (TSLA) stock plummeting more than 7% as CEO Elon Musk's feud with Trump reignited. Nvidia (NVDA) fell 1% and Meta (META) dropped fractionally after the two members of the "Magnificent Seven" hit fresh records the prior day. Tesla (TSLA) stock sank as much as 6% before the market open Tuesday as the feud between CEO Elon Musk and President Trump reignited overnight, with the president once again threatening to cut government subsidies across Elon Musk's businesses, including Tesla and SpaceX ( 'Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa,' Trump wrote on his social media platform Truth Social early Monday. 'No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!' The threats followed Musk's criticism of Trump's "big, beautiful" tax and spending bill over the weekend after the Senate advanced the bill with last-minute additions that would eliminate electric vehicle tax credits, which benefit Tesla customers, earlier than expected and add $1 trillion to the bill's original price tag. Read the full story here. The 10-year Treasury yield (^TNX) fell about 2 basis points to 4.20% on Tuesday — hitting its lowest level in two months — ahead of Fed Chair Jerome Powell's speech today at the ECB forum in Sintra, Portugal. Powell will join a panel of central bankers at the ECB forum to discuss the Federal Reserve's policy stance as pressure from the White House to cut interest rates has ratcheted up. On Monday, Trump sent Powell a signed note that lambasted the Fed chair for not slashing rates. Bloomberg reports: Read more: What is the 10-year Treasury note, and how does it affect your finances? AI chip stocks, including Nvidia (NVDA), fell across the board, and Big Tech names were little changed premarket after an artificial intelligence provision was stripped from President Trump's "big, beautiful bill" overnight. In a middle-of-the-night push to pass the megabill, Senate Republicans dropped the ban on state regulations of AI for a decade, which had gained support in Silicon Valley. The idea appeared to be dead after Sen. Marsha Blackburn of Tennessee turned against a compromise plan Monday evening. Yahoo Finance's Ben Werschkul reports: Read more here. From President Trump's tariffs to the Federal Reserve rate cut saga, the US stock market has just completed a roller-coaster first half of the year. The S&P 500 (^GSPC) is up 5% year to date, rebounding from its April slump after Trump's "Liberation Day" tariffs were announced. But what should investors watch for in the second half of 2025? Here's a look at six key questions facing US stock investors at the start of the second half. Reuters reports: Read more here. Yahoo Finance's Hamza Shaban reports in today's Morning Brief: Read more here on how these stocks tell investors about stock trading in 2025. Earnings: Constellation Brands (STZ) Economic data: JOLTS Job Openings (May); ISM manufacturing (June); Construction spending (May); Dallas Fed services activity; S&P Global US manufacturing PMI (June) Here are some of the biggest stories you may have missed overnight and early this morning: Trump repeats Tesla subsidy threat after Musk bashes megabill Senate kills ban on AI regulation as it pulls all-nighter on tax bill Trump pulls back from big trade deals as deadline looms How Boeing, Walmart, and Tesla tell the stock story of 2025 6 questions for US stock investors as 2025's second half begins Homes are taking longer to sell in US market that once flourished Tesla sales drop over 60% in Sweden and Denmark Chinese AI chipmakers plan $1.7B IPOs thanks to US curbs Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
13 minutes ago
- Washington Post
How major US stock indexes fared Tuesday, 7/1/2025
A mixed day of trading left the U.S. stock market split, as Wall Street's momentum slowed after setting record highs in each of the last two days. The S&P 500 slipped 0.1% Tuesday for its first loss in four days. The Dow Jones Industrial Average rose roughly 400 points, and the Nasdaq composite fell 0.8%. Tesla tugged on the market as the relationship between its CEO, Elon Musk, and President Donald Trump soured further. But most U.S. stocks rose. So did short-term Treasury yields following a better-than-expected report on U.S. job openings. Data on U.S. manufacturing was more mixed. On Tuesday: The S&P 500 fell 6.94 points, or 0.1%, to 6,198.01. The Dow Jones Industrial Average rose 400.17 points, or 0.9%, to 44,494.94. The Nasdaq composite fell 166.84 points, or 0.8%, to 20,202.89. The Russell 2000 index of smaller companies rose 20.46 points, or 0.9%, to 2,195.49. For the week: The S&P 500 is up 24.94 points, or 0.4%. The Dow is up 675.67 points, or 1.5%. The Nasdaq is down 70.57 points, or 0.3%. The Russell 2000 is up 22.97 points, or 1.1%. For the year: The S&P 500 is up 316.38 points, or 5.4%. The Dow is up 1,950.72 points, or 4.6%. The Nasdaq is up 892.10 points, or 4.6%. The Russell 2000 is down 34.66 points, or 1.6%.
