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The markets are catching their breath today, buoyed by signals of inflation holding steady and the continued progress in U.S.-China trade discussions. May’s Consumer Price Index (CPI) data delivered an unexpected positive, showing inflation nudging just slightly higher to 2.4% compared with year-ago levels. President Trump announced that the trade deal with China is a done deal, describing the relationship between Washington, D.C. and Beijing as “excellent.”
While marginally warmer than April’s 2.3% reading—fueled in part by higher grocery prices—the mere 0.1% monthly increase surprisingly surpassed economists’ expectations. Notably, price upticks in categories like food and shelter were offset by declines in energy, autos, and apparel, a striking development even amidst current tariffs.
On the index front, the Nasdaq Composite, S&P 500 and Dow Jones Industrial Average are all gaining modest ground. The SPDR S&P 500 ETF (SPY) is currently up 0.15%.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 49.34 (+0.12%)
Nasdaq Composite: Up 48.64 (+0.25%)
S&P 500: Up 10.68 (+0.18%)
Quantum Jumps
Technology stocks are firmly in the green. Nvidia (Nasdaq: NVDA) CEO Jensen Huang recently weighed in on the future of quantum computing, asserting that he fully expects these formidable machines to tackle real-world issues in the not-too-distant future. “Quantum computing is reaching an inflection point,” stated Huang during his keynote speech at Nvidia’s GTC 2025 developer conference. This bullish outlook has sent quantum stocks like Rigetti Computing (Nasdaq: RGTI) and IonQ (NYSE: IONQ) enjoying a nice bump today.
Market Movers
Chewy (NYSE: CHWY) is taking a notable hit, falling 11.1% after reporting weaker-than-expected Q1 net income.
Intel (Nasdaq: INTC) is sliding 4% on the day, extending its recent struggles, having lost approximately 28% of its value over the past 12 months.
Starbucks (Nasdaq: SBUX) is perking up with a 3% gain on reports that the coffee giant is exploring interest from other parties in its significant China business.
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