Dow Jones Today: Stock Futures Inch Higher With US-China Trade Talks in Focus as Market Looks to Extend Rally; S&P 500 at Highest Level Since February

Jun 9, 2025
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Stocks were higher in mid-afternoon trading Monday as investors awaited news from trade talks taking place between the U.S. and China.

The Dow Jones Industrial Average and S&P 500 were each up 0.3% recently, while the tech-heavy Nasdaq Composite added 0.5%, as each of the indexes traded near their highs for the session. Stocks were coming off a winning week, with the benchmark S&P 500 index surpassing 6,000 points on Friday for the first time since February as investors responded to a better-than-expected May jobs report.

Stocks have rallied in recent weeks as investor concerns about tariffs have subsided, while corporate earnings reports have been generally strong and various indicators have shown that the economy remains on sound footing. However, trade developments still have the potential to roil markets, and today’s meeting of U.S. and Chinese officials in London is being closely watched as investors seek confirmation that the two sides won’t reimpose massive tariffs on one another.

Shares of the world’s largest technology companies, which have paced the recent rally, were mostly higher on Monday. Amazon (AMZN) and Alphabet (GOOG) each rose nearly 2%, while Tesla (TSLA) was up more than 1%, extending its volatile run following last week’s very public feud between CEO Elon Musk and President Donald Trump. Microsoft (MSFT), Nvidia (NVDA) and Meta Platforms (META) inched higher. Apple (AAPL) shares slipped about 1% as the company’s highly anticipated Worldwide Developers Conference kicked off with a keynote speech from CEO Tim Cook, while Broadcom (AVGO) also dropped about 1%.

Chip stocks were among the big gainers to start the week. The iShares Semiconductor ETF (SOXX) was up nearly 3% as Advanced Micro Devices (AMD) rose 4%, ON Semiconductor (ON) climbed 5% and Arm Holdings (ARM) surged 6%.

Among other noteworthy movers, shares of trading platform Robinhood Markets (HOOD), which hit an all-time high on Friday, and adtech company Applovin (APP) dropped 5% and 4%, respectively. Both companies were seen as possible candidates for inclusion in the S&P 500 ahead of an expected rebalancing of the benchmark index, but no changes were made.

Warner Bros. Discovery (WBD) shares were up 0.5%, after rising as much as 13% in the opening minutes of trading following new the entertainment giant would split into two publicly traded companies, separating its cable business from its streaming and studio units.

Shares of USDC stablecoin issuer Circle Internet Group (CRCL) climbed 8%, adding to the huge gains posted since the company’s IPO last week. The stock rose nearly 30% earlier in Monday’s session.

Other crypto-related stocks also moved higher as bitcoin jumped to around $108,400 from an overnight low of $105,400. Major bitcoin buyer Strategy (MSTR) was up 4%, while crypto trading platform Coinbase Global (COIN) added more than 1%.

West Texas Intermediate futures, the U.S. crude oil benchmark, were up 0.4% at $64.85 per barrel, rising for the third straight day and trading near their highest level since mid-April. Gold futures rose 0.3% to $3,355 an ounce.

The yield on the 10-year Treasury note, which affects borrowing costs on a wide range of loans, notably mortgages, was at 4.48%, down from Friday’s close of 4.51%, which was a two-week high. The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, was down 0.2% at 98.95.

Tesla Gets a Couple of Downgrades After Trump-Musk Spat

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Tesla (TSLA) stock received a pair of downgrades to kick off the week after a public spat between CEO Elon Musk and President Trump erupted last week.

Analysts from Argus Research and Baird each cut their view on the electric vehicle maker, with Argus analyst Bill Selesky citing concerns that the EV maker’s stock is “currently trading on non-fundamental events,” like Musk’s relationship with the Trump administration.

Baird analysts echoed the comments, saying the CEO’s proximity to Trump was once seen as a positive after the election, but now “adds uncertainty and fuels questions regarding brand damage.”

Both Argus and Baird analysts said that Tesla is still a favorite stock for the long term, but downgraded their ratings to “hold” for the time being. Aside from Argus and Baird, 10 of the analysts tracked by Visible Alpha call Tesla’s stock a “buy,” while four rate it a “hold,” and four give it a “sell.” Their average price target is about $304. Shares were recently up about 1% at around $298, after falling more than 4% in early trading Monday.

Tesla is expected to launch its robotaxi service in Austin, Texas, as soon as this week, which some bullish analysts have suggested could drive gains for the company’s stock—along with a more affordable model that Musk has indicated remains on track to be revealed this month.

The Baird analysts said they expect about 6,000 robotaxis could be on the road by late next year, well below Musk’s projected “hundreds of thousands,” anticipating the business could be “harder (and likely less profitable) than the lofty expectations held by several investors.”

Tesla shares have lost about a quarter of their value since the start of 2025.

Tesla is the weakest performing stock among members of the Magnificent 7 group of major tech companies so far this year.

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Aaron McDade

Robinhood, AppLovin Slide as Stocks Not Included in S&P 500

1 hr 44 min ago

Shares of Robinhood Markets (HOOD) and AppLovin (APP) tumbled Monday as neither was added to the S&P 500 as some had anticipated.

S&P Global, which produces the index, made no changes to the prestigious index in its June rebalancing. 

Bloomberg said that analysts, including those at Bank of America and Barclays, had speculated that Robinhood would be added, sending the online trading platform’s shares soaring to an all-time high Friday.

Some intrigue was involved in the AppLovin story. CNBC reported in March that short seller Fuzzy Panda Research urged S&P Global to keep the mobile marketing platform out of the index. The network cited a letter from Fuzzy Panda calling AppLovin a “nexus of a house of cards,” and claimed it violated the app store policies of Alphabet’s (GOOGL) Google and Apple (AAPL).

Inclusion in the S&P 500 can be advantageous to stocks, because it exposes them to a wider group of investors who could become aware of those companies through an index. In addition, they can be put into various index funds that track S&P 500 stocks.

AppLovin and Robinhood were down 4% and 5%, respectively, in early-afternoon trading. 

Bill McColl

Archer Aviation, Joby Soar After Trump Executive Order

2 hr 26 min ago

President Donald Trump signed an executive order Friday aimed at “Unleashing American Drone Dominance,” and shares of unmanned aircraft manufactures are flying higher Monday.

Shares of Archer Aviation (ACHR) and Joby Aviation (JOBY) each jumped more than 10%, both extending gains from Friday. Space launch services firm Rocket Lab (RKLB) was up about 9%. 

Shares of Archer Aviation and Joby have moved back into positive territory for 2025 after big gains the past two sessions.

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The executive order establishes a pilot program to hasten the adoption of electric vertical takeoff and landing (eVTOL) technology, which companies such as Joby and Archer are utilizing for commercial air taxis and military aircraft, respectively. The policy is meant is to combat “unfair foreign competition [that] has posed a national security risk,” according to a White House fact sheet.

The order also allows for increased testing of “beyond visual line of sight” drone operations, meaning unmanned aircraft could be flown beyond a range where supervisors can directly see them. 

The development of air taxi technology has given rise to a new term: the low-altitude economy. Last week, Morgan Stanley estimated that the LAE could eventually “vastly exceed the size of today’s automotive market” and named Tesla (TSLA) as a potential company to watch in the sector. Tesla hasn’t announced any intention to develop eVTOLs, but CEO Elon Musk has discussed the need for a homegrown low-altitude economy in the U.S.

Andrew Kessel

Applied Digital Surged 103% Last Week—Watch These Levels

3 hr 13 min ago

Applied Digital (APLD) shares are likely to remain on investors’ radar screens after soaring last week following news of a deal to lease data center space to AI darling CoreWeave (CRWV).

The company said it expects the deal, which will see it host CoreWeave AI infrastructure at its Ellendale, N.D., campus, to generate $7 billion in total revenue over a 15-year period and accelerate its strategic expansion into advanced compute infrastructure. Both Applied Digital and CoreWeave are backed by AI chip giant Nvidia (NVDA).

Applied Digital shares, which gained 103% last week, have more than tripled over the past 12 months, boosted by expectations that the company sits well placed to capitalize on booming demand for AI infrastructure. The stock was down 0.3% in recent trading Monday, at around $13.80.

Source: TradingView.com.

Applied Digital shares have formed a cup and handle on the chart, with the price staging a decisive breakout above the pattern’s top trendline last week, potentially signaling the start of a new longer-term move higher.

It’s worth pointing out that the rally has occurred on significant trading volume, indicating strong buying conviction from larger market participants. Moreover, the relative strength index confirms bullish price momentum with a reading just below the indicator’s overbought threshold.

Investors should watch important overhead areas on Applied Digital’s chart around $17, $28 and $46.70, while also monitoring a major support level near $10.50.

Read the full technical analysis piece here.

Timothy Smith

Warner Bros. Discovery Stock Soars on Plan to Split

3 hr 41 min ago

Warner Bros. Discovery (WBD) is splitting into two separate companies, the media conglomerate announced on Monday, sending its shares sharply higher.

The company will split into two separate public companies by the middle of next year. One company, Streaming & Studios, will include the Warner Bros. movie and TV studios along with the recently rebranded HBO Max streaming service, while Global Networks will be made up of WBD’s cable channels like TNT, CNN, and the Discovery+ streaming service.

Warner Bros. Discovery shares were up more than 7% in recent trading, pacing S&P 500 gainers this morning.

With its sharp gain this morning, Warner Bros. Discovery shares are near unchanged in 2025. The stock has lagged the performance of the S&P 500 so far this year.

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The split is expected to be completed by the middle of next year, the company said in a statement.

WBD CEO David Zaslav, who recently had a nearly $52 million pay package rejected by shareholders, will serve as CEO of the Streaming & Studios segment, while CFO Gunnar Wiedenfels will take on the CEO role at Global Networks.

In December, the company announced that it would internally restructure its operations into a TV- focused and a movie- and streaming-focused segment, and said it was open to splitting up the company in the long term. A report last month that the split was likely going to be announced soon sent WBD shares up sharply.

Aaron McDade

Major Indexes Enter the Week in Positive Territory for 2025

4 hr 41 min ago

After two consecutive weeks of gains, the three major U.S. stock indexes are back in the green for 2025.

Through Friday’s close, the S&P 500 was up up 2% since the start of the year, while the Nasdaq Composite had gained 1.1% and the Dow Jones Industrial Average had risen 0.5% over the period.

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The S&P 500 entered the day just 2.4% away from the record closing high it set on Feb. 19. The Nasdaq was 3.3% below its Dec. 16 record high, while the Dow was 5.3% away from its Dec. 4 closing high.

S&P 500 Levels to Watch as Index Back Above 6,000

5 hr 30 min ago

The S&P 500 (SPX) surpassed the 6,000-point mark on Friday for the first time since February, extending a rally for stocks that’s been fueled by optimism about strong corporate earnings and economic data, as investors await further developments on the trade front.

After climbing above a descending broadening formation, the S&P 500 trended sharply higher before consolidating within a pennant. The index broke out from the pattern last week, indicating a continuation of its recent move higher. Meanwhile, the relative strength index confirms bullish momentum, but remains below its overbought threshold, providing ample room for further upside.

Source: TradingView.com.

Investors should track key overhead areas on the S&P 500’s chart around 6,100 and 6,575, while also watching major support levels near 5,770 and 5,650.

The S&P 500 closed right at 6,000 on Friday, and futures are pointing to a slightly higher open for the benchmark index on Monday.

Read the full technical analysis piece here.

Timothy Smith

Major Index Futures Rise Slightly

5 hr 54 min ago

Futures tied to the Dow Jones Industrial Average were up 0.1%.

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S&P 500 futures rose 0.2%.

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Nasdaq 100 futures tacked on 0.1%.

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