Stocks moved slightly higher Tuesday morning as investors remained on alert for news from ongoing trade talks between the U.S. and China.
The S&P 500 and Nasdaq Composite were each up 0.2% recently, while the Dow Jones Industrial Average added 0.1%. Stocks kicked off the week with modest gains, pushing the benchmark S&P 500 and the tech-heavy Nasdaq Composite to their highest levels since February. The S&P 500 entered the day just 2.3% away from its record closing high, after being down as much as 15% for the year in early April when fears about tariffs roiled financial markets.
Stocks have rallied in recent weeks amid hopes that President Donald Trump will soften his stance on tariffs, while corporate earnings have been generally strong and key indicators have shown the economy remains on sound footing. Market participants are focussed early this week on discussions taking place in London between U.S. and Chinese officials, who in addition to discussing tariffs are reportedly addressing current restrictions on shipments of rare earth minerals and chips, among other products.
Tesla (TSLA) shares were up about 3%, adding to the big gains posted the past two sessions after a massive sell-off last week that was sparked by a very public dispute between CEO Elon Musk and President Trump.
Among other mega-cap technology stocks, Alphabet (GOOG) was up 2%, while Apple (AAPL) rose more than 1% after losing ground yesterday following presentations at the company’s Worldwide Developers Conference that failed to impress investors. Nvidia (NVDA and Meta Platforms (META) inched higher, while Microsoft (MSFT), which is riding an eight-day winning streak, Amazon (AMZN) and Broadcom (AVGO) fell slightly.
Bitcoin was trading at $108,800, up from around $108,500 late Thursday afternoon but down from a high this morning of $110,500. The digital currency is not far from its record high of just below $112,000, set on May 22.
West Texas Intermediate futures, the U.S. crude oil benchmark, were up 1% at $65.95 per barrel, rising for the fourth straight day and trading at their highest level since early April. Gold futures were up slipped 0.2% to $3,350 an ounce.
The yield on the 10-year Treasury note, which affects borrowing costs on all sorts of consumer and business loans, fell to 4.47% from 4.48% at yesterday’s close. The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, was up 0.1% at 99.03.
Apple’s WWDC Was a ‘Yawner’, Wedbush Says
1 hr 6 min ago
Apple (AAPL) is late to the artificial intelligence party. That’s what Wedbush analysts said after the company’s Worldwide Developers Conference keynote didn’t include a specific timeline for AI-enhanced Siri features that investors had been waiting for.
The iPhone maker “is playing it safe and close to the vest after the missteps last year,” Wedbush wrote, referencing an ambitious presentation at WWDC 2024 that showcased a supercharged Siri assistant handling more complex tasks using AI. Apple Senior Vice President of Software Engineering Craig Federighi said during Monday’s keynote that there’s more work to do, and that more information will be released in the coming year.
Still, Apple did plant the seeds of its AI strategy by releasing a software development kit that will allow developers to build apps using the large language models within Apple Intelligence, Wedbush noted. The WWDC keynote showcased “slow but steady improvements to strategy,” the analysts said. “But overall [it was] a yawner.”
Goldman Sachs analysts said that while the lack of Siri updates “may have been underwhelming,” incremental improvements such as the new “liquid glass” iOS redesign and features like AI-powered live translation should help keep users from switching to competitors’ hardware.2
Wedbush and Goldman maintained bullish price targets of $270 and $253, respectively. Meanwhile, UBS reiterated its $210 target, and JPMorgan stayed at $240. Apple shares lost about 1% Monday after the WWDC keynote, but were up more than 1% in recent trading Tuesday at around $204.
TradingView
Shares of Apple have struggled this year, falling by roughly a fifth in 2025 amid concerns over the impact of tariffs and fears Apple could be falling behind in the AI race. Last month, ChatGPT maker OpenAI took what could be seen as a step toward competing with Apple in offering AI devices with plans to acquire io, an AI startup launched by former Apple design head Jony Ive.
TSMC Rises as Chipmaker Reports Big Jump in Revenue
2 hr 23 min ago
Taiwan Semiconductor Manufacturing Co. (TSM), the world’s largest contract chipmaker, reported May revenue surged nearly 40% year-over-year as demand remained elevated for its AI chips.
The U.S.-listed shares of the company, which supplies tech heavyweights such as Apple (AAPL) and Nvidia (NVDA), rose more than 3% in early trading. They entered Tuesday up 5% so far this year.
TSMC reported May revenue of 320.52 billion New Taiwan dollars ($10.70 billion), up 39.6% from a year earlier but down 8% from April’s figure. January-to-May revenue of NT$1.51 trillion was up nearly 43% over the same period last year.
In March, TSMC CEO C.C. Wei joined President Donald Trump in announcing that the firm intends to invest $100 billion in U.S.-based chip-manufacturing facilities. In the company’s first-quarter earnings call in April, Wei affirmed TSMC’s projection of “full-year 2025 revenue to increase by close to mid-20s percent in U.S. dollar terms.”
AMD Levels to Watch as Stock at Highest Level Since January
2 hr 54 min ago
Advanced Micro Devices (AMD) shares will likely remain in focus after hitting their highest level since January on Monday, lifted by optimism that trade discussions between the U.S. and China could lead to reduced export curbs.
In April, AMD cautioned its results would be affected by charges of roughly $800 million related to tightening restrictions on sales of its chips to China, while rival AI behemoth (NVDIA) warned it would take a potential $5.5 billion charge related to limits on exports of its H20 chip.
Investors will learn more about AMD’s plans for artificial intelligence at the company’s “Advancing AI” event on Thursday, which features a keynote address from CEO Lisa Su.
AMD shares were down slightly in premarket trading after gaining nearly 5% on Monday to close at around $122. The stock has risen nearly 60% from its early April-low, putting it back to where it started 2025.
After breaking out from a descending broadening formation last month, AMD shares have traded mostly sideways just below the closely watched 200-day moving average.
More recently, the stock’s price has nudged toward the May high, a move that has coincided with the relative strength index indicating strengthening price momentum. It’s also worth pointing out that the shares registered their highest trading volume in nearly a month on Monday, indicating growing interest in the chipmaker’s stock.
Investors should monitor major overhead areas on AMD’s chart around $123, $145 and $175, while also watching a key support level near $108.
Read the full technical analysis piece here.
Major Index Futures Inch Higher
3 hr 41 min ago
Futures tied to the Dow Jones Industrial Average were up 0.1%.
TradingView
S&P 500 futures added 0.2%.
TradingView
Nasdaq 100 futures were also up 0.2%.
TradingView
