The major indexes were fractionally higher near noon, continuing yesterday’s rally after the Federal Reserve held its benchmark interest rate steady on Wednesday, though Chair Jerome Powell noted there is “high uncertainty” about the potential impact of the Trump administration’s policies. Some solid housing data also allayed some worries about the U.S. economy potentially approaching a recession.
Looking to commodities, gold prices have surged to new record highs, surpassing the $3,000 per ounce mark. This increase is driven by escalating geopolitical tensions, particularly in the Middle East, and a weakening U.S. dollar, prompting investors to seek safe-haven assets. Meanwhile, oil prices are sharply higher despite volatility amid global uncertainties surrounding global supply and demand dynamics.
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
2. WALL STREET CALLS:
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Scotiabank starts Microsoft (MSFT) at Outperform at outset of “paradigm-shifting year”
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Piper upgrades Carvana (CVNA) to Overweight on selloff, sales growth
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Cloudflare (NET) assumed at Outperform with $150 price target as new analyst takes over coverage at Oppenheimer
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Piper downgrades Rivian (RIVN) on “heavy lifting” needed in 2025
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Citi upgraded Boston Beer (SAM) to Buy and downgraded Constellation Brands (STZ) to Neutral
3. AROUND THE WEB:
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Eli Lilly (LLY) launched its blockbuster diabetes and weight-loss drug Mounjaro in India on Thursday, Reuters says
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The Bear Cave issued a cautious report on Ibotta (IBTA)
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Chinese firms like Alibaba (BABA), Baidu (BIDU) and DeepSeek are open sourcing AI models to bypass U.S. curbs, decentralize development, and tap global talent for refinement, The Financial Times
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Tesla (TSLA) plans to unveil dry cathodes later this year and integrate battery innovations into the Cybertruck, The Information reports
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Nvidia (NVDA) plans to spend hundreds of billions of dollars on chips and other electronics made in the U.S. over the next four years as the company shifts its supply chain back from Asia, FT says
