S&P 500 INDEX (SPX) Live: Markets Pivot Toward Caution After Winning Streak

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The stock market has opened with a cautious tone this morning, as the Dow, Nasdaq, and S&P 500 are all trading lower. The SPX index is down 0.37%. Investors are reacting to concerning statements made by Federal Reserve Chairman Jerome Powell at an economic forum earlier today. Powell warned of potentially higher long-term interest rates for the long term, owing in part to an uncertain monetary policy outlook.

Today’s pullback follows an impressive run for the broader stock market in which the S&P 500 has been retaking lost ground for a positive year-to-date performance. For its part, the tech-heavy Nasdaq Composite has recovered 6% over the past five trading sessions. Today Apple (Nasdaq: AAPL) will distribute it quarterly cash dividend of $0.26 per share to shareholders.

Here’s the early look at market performance:

Dow Jones Industrial Average: Down 114.29 (-0.27%)
Nasdaq Composite: Down 128.16 (-0.67%)
S&P 500: Down 13.30 (-0.23%)

Stocks in Focus

Walmart (NYSE: WMT) is trading down by 4.0% following an announcement from a company executive that the retailer plans to transfer tariff costs to consumers in the form of higher prices, with these increases potentially taking effect this month.

Shares of Chinese e-commerce leader Alibaba (NYSE: BABA) have tumbled by 6.5% today after the company reported disappointing revenue figures for its fiscal fourth quarter.

Networking solutions provider Cisco (Nasdaq: CSCO) is also seeing downward pressure, with its stock down 4.2%.

CoreWeave (Nasdaq: CRWV) is under pressure, falling by 4.4%, despite announcing strong first-quarter revenue and significant demand for its AI cloud platform,. Investors appear concerned by the company’s plans for aggressive capex plans in Q2. On the positive side, CoreWeave clinched a lucrative partnership with Google.

UnitedHealth Group (NYSE: UNH) is a major drag on the markets, falling 17% today in a series of setbacks, the latest of which is a potential Medicare controversy.

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