Market Snapshot for Wednesday 6/11/2025
– S&P 500 – 6,022.24 (-0.27%)
– Dow Jones – 42,865.77 (-0.0026%)
– NASDAQ – 19,615.88 (-0.50%)
Market Performance
U.S. stocks took a breather from their recent rally on Wednesday as investors weighed a cooler-than-expected inflation report and evaluated a new U.S.-China initiative aimed at reviving their trade agreement. The Dow Jones Industrial Average (^DJI) ended the session mostly unchanged, while the S&P 500 (^GSPC) dipped just under 0.3%. The Nasdaq Composite (^IXIC), driven largely by tech stocks, led the pullback with a decline of about 0.5%. Both the S&P 500 and Nasdaq have recently climbed close to their record closing highs, fueled by optimism over the prospect of renewed trade deals.
Economic Takeaways –
• Consumer inflation rose 0.1% month over month, according to Bureau of Labor Statistics data, below the 0.2% increase anticipated and down from April’s 0.2% rise. On a “core” basis—excluding the often-volatile food and energy sectors—May’s CPI increased 2.8% year over year, matching April’s pace. Monthly core prices edged up 0.1%, compared to a 0.2% gain the previous month.
• Egg prices fell 2.7% in May. Wednesday’s Consumer Price Index report showed that the index for food at home rose 0.3% last month, a rebound after recording a 0.4% drop in April to mark the largest monthly decline since 2020.
• Odds of a September interest rate cut increased following the release, with markets pricing in a 57.2% chance versus 53.5% a day before, per the CME FedWatch tool.
• Treasury yields also fell, with the benchmark 10-year yield declining to 4.41%.
• Platinum extended gains Wednesday, rising to its highest level in four years after trading sideways for about a decade.
Gold –
• Gold is now the world’s second-largest reserve asset.
• Futures rose 0.7% to around $3,366 an ounce in early trading on Wednesday.
• Frantic central bank gold purchases, along with the precious metal’s soaring price, have cemented gold’s position as the second-largest reserve holding by value, trailing only the U.S. dollar, according to a European Central Bank report released Wednesday.
• The institutions “have played a key role in the gold rally and will probably continue buying gold, albeit at a slower pace than in the past couple of years,” one economist told CNBC.
Oil –
• Oil surges 4% following report that U.S. embassy in Iraq is preparing for evacuation amid escalating threats.
• West Texas Intermediate futures gained more than 4.5% to settle at $68.15 per barrel. Brent crude, the international benchmark, also jumped 4% to settle at $69.77 per barrel.
Bitcoin –
• Bitcoin is approaching a new high, lifted by growing optimism that the United States and China have finalized their long-anticipated trade agreement.
A Tariff Pause Extension Looks Likely
Treasury Secretary Scott Bessent told lawmakers it’s “highly likely” that the 90-day pause on newly announced U.S. tariffs will be extended for countries engaging with the administration “in good faith.”
“There are 18 important trading partners — we are working toward deals on those — and it is highly likely that those countries that are … negotiating in good faith, we will roll the date forward,” Bessent said Wednesday during testimony before the House Ways and Means Committee.
President Trump initially announced the sweeping new tariffs on April 9, rattling markets. However, the administration granted a 90-day delay on implementation as it entered negotiations with several nations and the European Union.
Earlier Wednesday, the U.S. and China agreed to a framework and implementation plan aimed at easing trade and tariff tensions. President Trump indicated the agreement was “done,” pending formal approval from both him and Chinese President Xi Jinping.
Papa John’s Shares Surge on Report of Potential Go-Private Deal
Shares of Papa John’s soared Wednesday following reports that the pizza chain could be taken private.
Papa John’s International (PZZA) stock closed the day up 7.5%, after climbing as much as 15% earlier — reaching its highest level since November. According to a report from Semafor, asset manager Apollo and Irth Capital Management have submitted a bid to take the company private in a deal that would value it at approximately $2 billion. Papa John’s current market capitalization stands at around $1.6 billion, based on data from Visible Alpha.
Irth Capital, which is associated with Qatar’s royal family, as well as Apollo and Papa John’s, did not respond to Investopedia’s requests for comment in time for publication.
In early May, Papa John’s reported a year-over-year decline in first-quarter comparable-store sales across North America. Despite that, the company’s stock has rebounded more than 25% this year, recovering significantly from its April lows.
Top Gainers
Several stocks experienced significant gains. Some of the top gainers included:
• Oklo Inc. (OKLO) moved higher 29.48%
• Quantum Computing, Inc. (QUBT) soared by 25.38%
• NuScale Power Corp. (SMR) exploded 20.41%
• Rigetti Computing, Inc. (RGTI) surged 11.39%
• Fluor Copr. (FLR) rose 10.97%
• Centrus Energy Corp. (LEU) moved up 8.37%
• Bilibili, Inc. (BILI) jumped 8.28%
• Insmed Inc. (INSM) spiked 7.75%
• Talen Energy Corp. (TLN) moved up 7.73%
• Argan, Inc. (AGX) surged 7.09%
Top Losers
The top US stock losers today, based on percentage change included:
• Newegg Commerce, Inc. (NEGG) moved lower 13.98%
• Lyell Immunopharma, Inc. (LYEL) moved lower 12.87%
• Summit Therapeutics, Inc. (SMMT) sank 11.32%
• Chewy, Inc. (CHWY) fell 10.98%
• GitLab, Inc. (GTLB) down 10.60%
• Cleveland-Cliffs, Inc. (CLF) moved lower 8.10%
• Clearwater Analytics Holdings, Inc. (CWAN) sank 6.67%
• American Airlines Group (AAL) dragged 6.59%
• Intel Corp. (INTC) moved down 6.46%
• Dream Finders Homes, Inc. (DFH) slumped 6.12%
Notables
• Quantum computing stocks jumped in early trading Wednesday after Nvidia CEO Jensen Huang said promising comments about the technology at the chipmaker’s GTC Paris developer conference. Companies in the space, such as Quantum Computing (QUBT) rose more than 31% after market open, while Rigetti Computing (RGTI) jumped more than 18% and IonQ (IONQ) rose over 8%.
• GameStop (GME) stock fell 4% before the bell on Wednesday after posting its first quarter earnings the day prior. The company announced net sales of $732.4M, down from $881.8M in the same period of 2024.
• Victoria Secret’s (VSCO) shares rose by 1% ahead of its earnings release on Wednesday.
• Oracle (ORCL) jumped after AI fueled a revenue beat for the company.
• Space firm Voyager Technologies (VOYG) jumped 82% after an upsized IPO.
• Chewy (CHWY) stock was falling Wednesday even after the pet-supply e-commerce company posted better-than-expected earnings for its fiscal first quarter.
What to Watch Ahead
Tomorrow investors can look forward to the May Producer Price Index (PPI) and expected earnings from Adobe (ADBE).
On Friday we will see Preliminary June University of Michigan Consumer Sentiment.
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