Major Averages Close Broadly Lower as Fed Policy Concerns Persist

The major averages closed broadly lower as concerns remain about the Federal Reserve's future policy path. Of note, Federal Reserve governor Christopher Waller, who was reportedly interviewed by President Trump to be the next Fed chair, said he still favors additional rate cuts.Energy markets were notable, with oil climbing following a U.S. order to block sanctioned Venezuelan tankers, a development that has lifted energy stocks and contributed to broader risk-asset support. Silver and gold also moved higher as precious metals benefit from expectations of easier monetary policy and ongoing economic uncertainty.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Warner Bros. Discovery'sboard unanimouslyParamount Skydance'soffer for the company, saying the terms of the Netflixdeal are "superior"Courserawith Udemyin an all-stock transactionGeneral Millsreportedand reiterated its FY26 outlookAlphabet's YouTubewillstarting 2029, after ABC'srights expireMedlineafter its IPO, the largest of the year, was priced at $29 per share2. WALL STREET CALLS:Telsey AdvisoryVictoria's Secret, Gapand Urban Outfittersas part of a year-ahead note for the retail groupJefferiesProcter & Gambleand Church & Dwightupgraded to BuyAirbnbto Outperform at RBC CapitalFortinetto Underweight at JPMorganKeurig Dr Pepperand Constellation Brandsto Hold at Jefferies3. AROUND THE WEB:Novartisand Rocheare nearing drug price deals with the U.S.,Alphabet'sWaymo business is in talks to raise over $15B at a valuation close to $100B in a round led by its parent company,Blue Owl Capitalwill not proceed with backing a planned $10B, 1-gigawatt Oracledata center in Michigan intended to serve OpenAI after negotiations stalled amid concerns over Oracle's rising debt and AI spending,As a penalty for misleading consumers about driver-assistance technology, California sales of Teslawill be suspended for 30 days,BBVAis considering large share buybacks as it seeks to return capital to shareholders following its failed bid for Banco Sabadell,4. MOVERS:DBV Technologiesincreases in New York after reporting VITESSE trialRecursion Pharmaceuticalsgains after JPMorganthe stock to OverweightHut 8higher afterwith Anthropic and Fluidstack for AI infrastructureKyvernafalls after announcing aImmunomelower after announcing an5. EARNINGS/GUIDANCE:Jabilprovided areport for Q1LennarreportedABMand provided guidance for FY26Toro Company, with EPS and revenue beating consensusSCHMIDreported, with EPS lower year-over-yearINDEXES:The Dow fell 228.29, or 0.47%, to 47,885.97, the Nasdaq lost 418.14, or 1.81%, to 22,693.32, and the S&P 500 declined 78.83, or 1.16%, to 6,721.43.