Live Nasdaq Composite: Inflation Rate Eases to Multi-Year Low, Stocks Stall
Live Updates Live Coverage Updates appear automatically as they are published. Stock Market Tailwinds 10:10 am by Gerelyn Terzo Former stock market headwinds are turning into tailwinds. Wall Street firm Goldman Sachs has revised its 2025 stock market performance outlook upward. Goldman Sachs Chief U.S. Equity Strategist David Kostin increased his 2025 S&P 500 prediction […] The post Live Nasdaq Composite: Inflation Rate Eases to Multi-Year Low, Stocks Stall appeared first on 24/7 Wall St..
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Stock Market Tailwinds
Former stock market headwinds are turning into tailwinds. Wall Street firm Goldman Sachs has revised its 2025 stock market performance outlook upward. Goldman Sachs Chief U.S. Equity Strategist David Kostin increased his 2025 S&P 500 prediction to 6,100, up from a former 5,900, suggesting upside potential of approximately 4% from current levels. He wrote: “We raise our S&P 500 return and earnings forecasts to incorporate lower tariff rates, better economic growth, and less recession risk than we previously expected.”
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The markets are stalling as they process the latest inflation data coupled with the trade progress between the U.S. and China. The economy appears to be headed in the right direction, as the annual inflation rate fell to 2.3% in April, representing its lowest threshold since 2021. For the month, the Consumer Price Index (CPI) rose by a mere 0.2%, while prices eggs, a common grocery item, fell by just over 12%. The inflation data was better than expected considering April followed a period of heightened trade tensions, with a truce and tariff reductions announced in May.
The Nasdaq Composite is looking to extend yesterday’s gains, as Big Tech delivers a mixed performance. Amazon (Nasdaq: AMZN) and Nvidia (Nasdaq: NVDA) are each tacking on about 2% today, while Microsoft (Nasdaq: MSFT) and Apple (Nasdaq: AAPL) are off fractionally.
Ed Yardeni, of the research firm that bears his name, has lowered the chances of a U.S. recession and raised his S&P 500 year-end target to 6,500 in response to the Trump administration’s ability to successfully navigate tariff deals.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 199.63 (-0.47%)
Nasdaq Composite: Up 91.95 (+0.50%)
S&P 500: Up 5.80 (+0.10%)
Market Movers
Coinbase (Nasdaq: COIN) is soaring by 15% after further validating the cryptocurrency industry with a spot in the S&P 500.
UnitedHealth Group (NYSE: UNH) is suffering a 12% decline amid further turmoil in the C-Suite. The healthcare giant announced CEO Andrew Witty would be leaving his post, owing to personal reasons. The company has named Stephen Hemsley as Witty’s successor. Brian Thompson, former CEO of UnitedHealthcare (a division of UnitedHealth Group), was fatally gunned down in 2024. UnitedHealth has suspended its 2025 outlook.
Raymond James has started coverage of Super Micro (Nasdaq: SMCI) with an “outperform” rating, calling it a “nearly pure AI play.”
Goldman Sachs upgrades shares of Valero Energy (NYSE: VLO) from “neutral” to “buy” with a price target of $154 attached, reflecting upside potential of 15%.
The post Live Nasdaq Composite: Inflation Rate Eases to Multi-Year Low, Stocks Stall appeared first on 24/7 Wall St..
