This article will be updated throughout the day, so check back often for more daily updates.
Major market indices closed higher for the second straight week on Friday. As investors look to London for updates on a new round of trade negotiations between the U.S. and China Monday, they’re being cautious, and the Vanguard S&P 500 ETF (NYSEMKT: VOO) is basically flat in the first few minutes of trading.
In London today, Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and U.S. Trade Representative Jamieson Greer are meeting Chinese counterparts, including Chinese Vice Premier He Lifeng to discuss issues including Chinese restrictions on rare earth magnet exports. Meetings began last night, and are expected to continue all week long — so expect the market to move up and down a lot this week as details filter out.
Earnings
Earnings reports are often slow on Mondays, and today’s no exception, with only a handful of companies reporting. But we do have one good report at least.
Industrials company Graham Corporation (NYSE: GHM) says it earned $0.43 per share in its fiscal Q4 2025, twice as much profit as Wall Street predicted, and with strong sales guidance for the coming year.
Graham stock is up 21% in response.
Analyst Calls
Less happily, S&P 500 component company lululemon athletica (Nasdaq: LULU) suffered two downgrades as both CICC bank and Morgan Stanley pulled their buy ratings this morning, after lululemon issued disappointing guidance last week.
Morgan Stanley’s Alex Straton writes that there are “powerful dynamics contributing to LULU’s Americas challenges” and the prospects for near-term improvement in the company’s business seem dim.
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