The one-year inflation outlook dropped to 3.2% in May
All eyes are on U.S.-China trade negotiations in London this afternoon. The Dow Jones Industrial Average (DJI) was last seen 99 points lower, while the S&P 500 Index (SPX) is flat, and the Nasdaq Composite (IXIC) sports a comfortable lead as investors monitor updates.
Wall Street is also eyeing Apple’s (AAPL) 2025 Worldwide Developers Conference, which kicks off later today, as they unpack the New York Fed’s Survey of Consumer Expectations. Though the one-year inflation outlook dropped to 3.2% in May, the reading is still well above the Fed’s annual target of 2%.
Continue reading for more on today's market, including:
Cameco Corp (NYSE:CCJ) stock is seeing unusual options activity today, with 71,000 calls and 11,000 puts exchanged so far -- 7 times the volume typically seen at this point. The July 70 call is the most popular contract, with new positions opening there. CCJ was last seen 11.4% higher to trade at a record high of $67.15, after four analysts lifted their price objectives. Shares have added 80% over the last nine months, and sport a 29.6% year-to-date lead.
Advanced Micro Devices Inc (NASDAQ:AMD) is one of the best performers on the SPX today, last seen up 4.8% to trade at $121.74. The chip stock scored a price-target hike from UBS to $120 from $100 earlier, and has added 26.3% in the last three months. Shares carry 27.2% year-over-year deficit and sport a slim lead for 2025, as they bounce off a floor at $110 back above the $120 region, which emerged as a ceiling in January.
Universal Health Services Inc (NYSE:UHS) stock is at the bottom of the SPX today, down 7.4% to trade at $175.34 at last glance. Today's bear gap follows the company's presentation at the Goldman Sachs 46th Annual Global Healthcare Conference, which highlighted challenges such as labor costs and regulatory changes. UHS shed 22.4% over the last nine months, and earlier slipped to its lowest level since April.