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The markets are showing cautious optimism as trade discussions between the U.S. and China officials continue to unfold in London. Out of the gate, all three major stock market averages—the Nasdaq Composite, S&P 500, and Dow Jones Industrial Average—are eking out small gains for now. Stocks remain directionless as investors wait for more information about the trade deal. Economic sectors are mixed, led by a 1.3% gain in energy stocks.
Wall Street was not too impressed with Apple’s (Nasdaq: AAPL) AI innovation from yesterday’s developer conference. UBS analysts wrote in a note, “Many of the AI features announced were more incremental in our view, and already available through competitor applications.” Apple did make an impression with the announcement of Liquid Glass, a feature that will change the look and feel of its operating systems. The stock is up fractionally.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: flat
Nasdaq Composite: Up 17.96 (+0.07%)
S&P 500: Up 8.16 (+0.14%)
Market Movers
Plug Power (Nasdaq: PLUG) is gaining 21.3% today, buoyed by catalysts such as insider buying from the company’s C-suite and an expanded international partnership.
IBM (Nasdaq: IBM) is tacking on 1.5% after setting a fresh all-time high yesterday for a market cap of $256.9 billion fueled largely by its AI investments and innovation.
Navitas Semi (Nasdaq: NVTS) is up 14.2% today, adding to its recent blockbuster performance, with shares more than doubling over the past month.
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