Major Averages Bounce Back, Oil Prices Rise
The major averages were broadly higher near noon, bouncing back from Friday's declines as President Trump attempts to maintain a fragile ceasefire despite continued attacks between Iran and Israel. Oil prices are higher as the commodity continues a volatile stretch, while semiconductor stocks are recovering some of the roughly $1T in market value erased from the chip sector late last week.Friday's employment report showed the labor market continues to create jobs despite elevated interest rates. That data reinforced the view that the economy is slowing gradually rather than falling into recession. For equity investors, that is generally positive for earnings, but it also complicates the outlook for Federal Reserve policy. Treasury yields remain elevated as a result, although they have stabilized somewhat after their sharp rise during May.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Nvidiaand SK Hynix announced aAmazonwith Corningto boost U.S. fiber optics manufacturingIngredionannounced a recommendedCampbell'sreportedand reaffirmed its FY26 guidanceEli Lillypresentedthat women with obesity or overweight who took the highest dose of Foundayo experienced significant weight loss at every stage of menopause2. WALL STREET CALLS:Crocsto Outperform at BairdCenterspaceto Neutral at Piper SandlerVoya Financialto Strong Buy from Market Perform at Raymond JamesWall Street rolled out coverage of Cerebras SystemswithFervo Energysaw a bit more mixed reception infrom Wall Street firms3. AROUND THE WEB:Spotifyis hoping to become a destination for live music content, including livestreamed concerts and festivals, and has approached concert promoters regarding licensing rights to broadcast the events, Bloomberg saysThe U.K. competition regulator has launched a probe into eBay'spurchase of Depop from Etsy, Reuters reportsIn a recently published report, Hunterbrook says that Ensign Group'sbusiness model relies on "delivering inadequate care to patients while gaming data on quality, according to Hunterbrook's five-month investigation.ITA Airways will decide within the next 8 weeks on if it will sue RTX'sPratt & Whitney over engine problems that have grounded about 20% of its 80 aircraft fleet, Reuters reportsCarlylehas agreed to acquire Chung Ho Group for $700M, Bloomberg says4. MOVERS:Tango Therapeuticsgains afterongoing Phase 1/2 study of vopimetostaAmerican Batteryincreases after announcing itwith the U.S. Department of Energy for the reinstatement of its grant awardSportsradarhigher in New York after announcing a multi-year globalShattuck Labslower after announcingfor SL-325Cienafalls after filing to sell $2B of5. EARNINGS/GUIDANCE:Honeywellfor FY26Duluth Holdingsand backed its guidance for FY26Graham, with CEO Matthew Malone commenting on "another year of strong execution"Motorcar Partsand provided guidance for FY27VinFast Auto, with revenue up year-over-yearINDEXES:Near midday, the Dow was up 0.17%, or 84.63, to 50,951.41, the Nasdaq was up 1.50%, or 386.63, to 26,096.06, and the S&P 500 was up 0.85%, or 62.51, to 7,446.25.
