Major Averages Rise as Fed Chair Confirmed
The major averages were mostly higher as Kevin Warsh was confirmed as the next Fed Chair in a Senate vote. Markets were trying to stabilize after Tuesday's inflation-driven pullback, though they face an added headwind after April producer price inflation came in hotter than expected.Investors are closely watching developments between President Trump and Chinese President Xi Jinping, with trade, AI and rare-earth supply negotiations in focus. Any signs of easing trade tensions could help improve sentiment, particularly for industrials and semiconductors, while renewed tariff escalation would likely add to inflation concerns.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Alibabareported a sharpin Q4 earnings per shareNvidia, Tesla, and Boeingwere all higher as theirAmazonintroduced itspersonalized AI assistantEquinox Goldand Orla Miningagreed to anPayPalannounced aover AI training for small businesses2. WALL STREET CALLS:LeerinkJ&Jto Outperform on new drug momentumAkamaito Buy at BofAWendy'sto Buy at Argus on take-private reportsUnder Armourto Hold at Stifel on persistent challenges to sales growthZoomInfoto Underperform at Mizuho3. AROUND THE WEB:Cerebrashas turned down a takeover approach from Armand SoftBank, Bloomberg saysAppleis exploring ways to bring AI agents to the App Store, The Information reportsBYDis negotiating with Stellantisand other European car makers to take over underused factories in the region, Bloomberg reportsWalmartis cutting or relocating about 1,000 corporate roles, WSJ saysAnthropic is in talks to raise between $30B and $50B in a funding round that would value it at up to $950B, NY Times says4. MOVERS:Energy Vaultrose announcing awith EskomVelo3Dwas higher afterNextpowergained afterand agreeing to acquire Zigor's power conversion businessKarmanfell afterResideowas lower afterand reaffirming its guidance for Q2 and FY265. EARNINGS/GUIDANCE:OkloreportedEos Energyreportedand provided FY26 revenue guidanceWix.comreportedKornit DigitalreportedGlobal-e Onlineprovided areport for Q1INDEXES:The Dow fell 67.36, or 0.14%, to 49,693.20, the Nasdaq gained 314.14, or 1.20%, to 26,402.34, and the S&P 500 advanced 43.29, or 0.58%, to 7,444.25.
