Evening Market Recap

Sophia Reyes · June 10, 2025 10:31 PM

Market Snapshot for Tuesday 6/10/2025

• S&P 500 – 6,038.81 (+0.55%)
• Dow Jones – 42,866.87 (+0.25%)
• NASDAQ – 19,714.99 (+0.63%)

Market Performance

U.S. stocks moved slightly higher on Tuesday as U.S.-China trade negotiations resumed for a second day, following a positive opening round. The Dow Jones Industrial Average (^DJI) gained about 0.2%, while the S&P 500 (^GSPC) advanced roughly 0.5%. The tech-focused Nasdaq Composite (^IXIC) added around 0.6%. Both the S&P 500 and Nasdaq are now approaching their all-time closing highs — 6,144.15 for the S&P, reached on February 19, 2025, and 20,173.89 for the Nasdaq, set on December 16, 2024. The broader rally has been supported by strong corporate earnings, improving economic forecasts, and renewed hope for progress on tariff agreements.

Asian stocks slipped. “The market is too sensitive,” Fu Shifeng, investment director at Cheng Zhou Investment, told Bloomberg. “People seem to be speculating that the talks didn’t go well.”

Economic Takeaways –

• Investors are on pins and needles waiting for a deal on access to China’s rare earth minerals.
• White House officials have indicated that discussions have been productive, but President Trump himself cautioned that “China’s not easy.”
• Tomorrow’s May Consumer Price Index (CPI) report will offer fresh insight into the state of inflation amid evolving trade policy.
• Earlier in the week New York Fed’s May 2025 Survey of Consumer Expectationsshowed inflation expectations for the next year, three years and five years all fell.
• Longer-term bond yields traded slightly lower, with the 10-year Treasury yield finishing around the 4.47%, while the 2-year yield was little changed at around 4%.

Gold –

• Gold retreated less than 0.5% during the session to hover near $3,347 per ounce. Silver hovered near $36 per ounce, its highest level since February 2012.

Oil –

• Oil prices hold near 7-week high as market waits for news from US-China trade talks
• Brent crude futures slid 17 cents, or 0.3%, to settle at $66.87 a barrel, while U.S. West Texas Intermediate crude fell 31 cents, or 0.5%, to settle at $64.98.

Bitcoin –

• Bitcoin (BTC-USD) advanced toward fresh highs on Tuesday, supported by several positive developments in the cryptocurrency sector.
• The coin hovered under 110,000 and is up 16% YTD.

IBM Unveils New Quantum Processor, Sets Sights on Starling Supercomputer by 2029

IBM shares rose more than 2% after the tech giant revealed plans to build the world’s first large-scale, fault-tolerant quantum computer—named Starling—that can operate without errors.

The announcement comes as IBM stock continues to climb, recently reaching record highs. On Monday, the company’s market capitalization topped $250 billion for the first time in its history.

In a roadmap released Tuesday, IBM detailed its vision for developing Quantum Starling, a powerful quantum system designed to correct errors and deliver reliable performance at scale.

As part of that roadmap, IBM introduced the Quantum Nighthawk processor, which is expected to debut later this year, according to a company blog post.

“Unlocking the full promise of quantum computing will require a device capable of running larger, deeper circuits with hundreds of millions of gates operating on hundreds of qubits, at least,” the blog post stated. “More than that, it will require a device capable of correcting errors and preventing them from spreading throughout the system. … It will require a fault-tolerant quantum computer.”

Discussions in London

The second round of high-stakes tariff negotiations between the United States and China is underway at Lancaster House, a historic government site in London. With global markets watching closely, the talks are seen as a pivotal moment that could ease tensions between the world’s two largest economies and help avert a deeper trade dispute.

Talks extended into a second day on Tuesday, with a senior U.S. delegation in attendance. Representing the United States are Commerce Secretary Howard Lutnick, Trade Secretary Scott Bessent, and U.S. Trade Representative Jamieson Greer. Leading the Chinese delegation is Vice Premier He Lifeng, China’s top economic envoy.

President Donald Trump expressed cautious optimism on Monday, telling reporters at the White House: “We’re doing well with China. China’s not easy. We’re getting good reports from the talks.”

Top Gainers

Several stocks experienced significant gains. Some of the top gainers included:

• Nektar Therapeutics (NKTR) moved higher 29.12%
• Insmed Inc. (INSM) soared by 28.65%
• Casey’s General Stores (CASY) exploded 11.59%
• NewAmsterdam Pharma Company (NAMS) surged 8.33%
• Legend Biotech Corp. (LEGN) rose 8.22%
• Intel Corp. (INTC) moved up 7.81%
• YPF Sociedad Anonima (YPF) jumped 7.65%
• Telecom Argentina S.A. (TEO) spiked 6.77%
• PBF Energy, Inc. (PBF) moved up 6.53%
• Visteon Corp. (VC) surged 6.52%

Top Losers

The top US stock losers today, based on percentage change included:

• AAON, Inc. (AAON) moved lower 16.39%
• The J.M. Smucker Company (SJM) moved lower 10.20%
• United Therapeutics Corp. (UTHR) sank 9.88%
• Lyell Immunopharma, Inc. (LYEL) fell 8.52%
• Korea Electric Power Company (KEP) down 8.21%
• Newegg Commerce, Inc. (NEGG) moved lower 8.07%
• Rocket Lab Corp. (RKLB) sank 7.67%
• Loar Holdings, Inc. (LOAR) dragged 6.78%
• BrightSpring Health Services (BTSG) moved down 6.55%
• Symbotic, Inc. (SYM) slumped 6.14%

Notables

• Casey’s (CASY) stock hit an all-time high on Tuesday after the company beat on both the top and bottom lines in its fiscal fourth quarter.
• GameStop (GME) reported a 17% drop in first-quarter revenue, coming in at $732.4 million, down from $881.8 million a year earlier.
• Boeing (BA) gave up earlier gains of up to 2% on Tuesday, despite logging 303 new orders in May—the highest monthly total since December 2023.
• Disney (DIS) was the most searched ticker on Yahoo Finance after shares rose 2%, following news that Warner Bros. Discovery will split into two publicly traded entities.
• IBM (IBM) gained over 2% after unveiling plans to develop the world’s first large-scale, fault-tolerant quantum computer.
• J.M. Smucker (SJM) shares tumbled after the company issued full-year earnings guidance below Wall Street expectations.
• McDonald’s (MCD) dropped 1.4% following a downgrade from Redburn Atlantic, which lowered its rating from Buy to Sell due to concerns over weight-loss drugs’ potential impact on eating habits. The downgrade followed a similar move by Morgan Stanley a day earlier.
• Tesla (TSLA) advanced 2.5% in early trading amid reports of improved relations between Elon Musk and Donald Trump. Investors are also focused on the company’s Q2 delivery report, due in early July. Wall Street is forecasting 412,000 vehicle deliveries—a 7% drop from last year.
• Taiwan Semiconductor (TSMC) climbed 1.8% pre-market after posting a 40% year-over-year jump in May revenue, fueled by strong demand for AI chips.
• Coca-Cola (KO) said it plans to close one of its U.S. manufacturing facilities.
• Designer Brands (DBI) plunged more than 20% on Tuesday after missing first-quarter expectations and pulling its full-year forecast.
• Starlink, Elon Musk’s satellite internet venture, has filed for approval to operate in southwestern Switzerland, according to the Swiss communications office (BAKOM).

What to Watch Ahead

Wednesday: May Consumer Price Index (CPI) and expected earnings from Oracle (ORCL) and Chewy (CHWY). Headline CPI is forecasted to increase by 0.2% month-over-month and 2.5% year-over-year. Core CPI is expected to rise 0.3% for the month and 2.9% on an annual basis.

Thursday: May Producer Price Index (PPI) and expected earnings from Adobe (ADBE).
Friday: Preliminary June University of Michigan Consumer Sentiment.