The S&P 500 Index is up 0.03% while the Dow Jones Industrials Index is down 0.17% and the Nasdaq 100 Index is up 0.06%. June E-mini S&P futures have increased by 0.01% and June E-mini Nasdaq futures are up 0.05%. Market sentiments are mixed as US-China trade talks occur in London, focusing on rare-earth minerals and technology exports.
In corporate news, Qualcomm has agreed to acquire Alphawave IP Group Plc for approximately $2.4 billion, while IonQ has announced a deal to purchase Oxford Ionics for $1.075 billion. China’s May exports rose 4.8% year-over-year, below expectations of 6.0%, and imports decreased by 3.4% year-over-year. This week, attention will turn to upcoming economic reports, including CPI data and initial unemployment claims.
US stock movers include Warner Bros Discovery, which is up over 11% following a planned split into two companies. Goodyear Tire & Rubber and ABM Industries are also experiencing notable gains, while Intuitive Surgical leads Nasdaq 100 losers, down over 8% after a downgrade by Deutsche Bank.
