Live Nasdaq Composite: Markets Stay Hopeful in Big Week for Tech Sector

Technology stocks are mostly higher today, setting a positive tone for the broader markets. U.S. and Chinese officials are expected to restart trade discussions today in Europe. Big Tech stock Apple (Nasdaq: AAPL) is gearing up for its developer conference, called WWDC, today, featuring a keynote speech from CEO Tim Cook. The markets will be listening for any advancements on AI innovation.

The three major stock market averages are higher out of the gate, with the Dow Jones Industrial Average, Nasdaq Composite and S&P 500 all posting gains. All sectors of the economy are higher as sentiment looks up to start the week.

The S&P 500 is trading back above the psychologically important 6,000 level, powered in part by chip stocks including Advanced Micro Devices (Nasdaq: AMD), which is tacking on 3.4% today. While tech as a sector is moving higher, one Magnificent 7 stock being left out of the gains is Tesla (Nasdaq: TSLA), which is down 3.9%. Wall Street analysts downgraded the EV stock due to the distraction of tensions between CEO Elon Musk and President Trump.

On the economic front, the latest inflation data is expected mid-week when the latest Consumer Price Index and Producer Price Index results for May will be revealed.

Here’s a look at the performance as of morning trading:

Dow Jones Industrial Average: Up 39 (+0.09%)
Nasdaq Composite: Up 23.50 (+0.11%)
S&P 500: Up 9 (+0.15)

Market Movers

Meta Platforms (Nasdaq: META) is in discussions to potentially back AI startup Scale AI with a $10 billion-plus investment, according to a Bloomberg report.

Archer Aviation (NYSE: ACHR) is gaining 5% today as its piloted flight program gains momentum in the U.S. and UAE markets.

Quantum computing stock IonQ (NYSE: IONQ) is gaining 3% after announcing a deal to acquire London’s Oxford Ionics in a billion-dollar transaction.

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