Traders work on the floor of the New York Stock Exchange on June 10, 2025.
NYSE
Stocks wavered on Wednesday after the release of softer-than-expected inflation data, and as the U.S. and China reached a preliminary trade agreement.
The Dow Jones Industrial Average advanced 166 points, or 0.4%. The S&P 500 added 0.1%, while the Nasdaq Composite edged lower by less than 0.1%. The S&P 500 rose in six of the last seven trading days and was less than 2% below a record reached in February. At one point, the benchmark index was about 20% below a record.
Shares of Tesla added 1%, on track for their fourth straight winning day, after CEO Elon Musk said he regrets some of the social media posts he made regarding Trump. Musk also announced on Tuesday that Tesla robotaxi rides in Austin, Texas, are ‘tentatively’ set to start on June 22. Separately, quantum computing stocks jumped after Nvidia CEO Jensen Huang said the space is reaching an inflection point.
The consumer price index rose 0.1% in May from April, less than the 0.2% estimate from economists polled by Dow Jones. Core CPI, which strips out volatile food and energy prices, also increased 0.1%, less than expected.
“Inflation in May was lower than anticipated, suggesting the tariffs aren’t having a large immediate impact because companies have been using existing inventories or slowly adjusting prices due to uncertain demand,” said Alexandra Wilson-Elizondo, global co-CIO of multi-asset solutions at Goldman Sachs Asset Management.
“As we wait for the 90-day tariff pause to pass, the market will be caught between inflation and job prints. If inflation stays under control or the job market weakens, the Federal Reserve will likely consider cutting interest rates down the road,” Wilson-Elizondo said.
Discussions between U.S. and Chinese officials have been a key focus this week for investors who remain on edge regarding trade policy.
Officials reached a consensus after two days of talks in London, but said that they will seek approval on the framework from the U.S. and Chinese presidents before implementing it. As part of the framework, China would approve the exports of rare earth minerals while the U.S. would roll back restrictions on the sale of advanced technology to China.
Even as the framework is being finalized, Commerce Secretary Howard Lutnick said Wednesday that U.S. tariffs on Chinese imports will not change from their current levels.
President Donald Trump said earlier in a Truth Social post that the deal with China is “done, subject to final approval with President Xi and me.” As part of the deal framework, he said that magnets and “any necessary rare earths” will be supplied up front by China and the U.S. will allow Chinese students to attend U.S. colleges and universities, adding that “WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%.”
— CNBC’s Evelyn Cheng contributed reporting.
Okla, Chewy among stocks making midday moves
Check out the companies making the biggest moves midday:
- Oklo — The advanced reactor company surged more than 25% after receiving a notice that it will likely win an award to power an Air Force base. Oklo would deploy one of its Aurora powerhouse plants at Eielson Air Force Base in Alaska. The award is not finalized and Oklo’s reactor design has not been approved by the Nuclear Regulatory Commission yet.
- GameStop — Shares slipped nearly 5% after GameStop posted first-quarter revenue of $732.4 million, down from the $881.8 million figure seen in the same period a year prior.
- Chewy — The pet-focused e-commerce retailer tumbled 10% after posting 15 cents in earnings per share for the first quarter, missing the consensus forecast of 20 cents from analysts polled by LSEG. On the other hand, Chewy saw $3.12 billion in revenue, exceeding Wall Street’s prediction of $3.08 billion.
For the full list, read here.
— Pia Singh
Oklo surges after taking step closer to power Air Force base
Oklo Aurora powerhouse.
Courtesy: Oklo Inc.
Oklo shares surged more than 25% after the nuclear technology company took a step toward powering an Air Force base with its proposed advanced reactor design.
Oklo received a notice that it will likely win an award to deploy one of its Aurora powerhouse plants at the Eielson Air Force Base in Alaska. It would design, construct, own and operate the plant under the terms of the anticipated agreement.
The award is not finalized. Oklo’s reactor design has also not been approved by the Nuclear Regulatory Commission yet.
— Spencer Kimball
Lutnick says U.S. tariffs on China won’t change again
Commerce Secretary Howard Lutnick said on “Money Movers” that the U.S. tariffs on China won’t change from here.
Specifically, Lutnick was asked if it was fair to say the China tariffs won’t change after this week’s talks in London. He responded with “you can definitely say that.”
A trade deal between the U.S. and China has still not been finalized.
— Jesse Pound
Quantum stocks pop after Nvidia CEO says industry is ‘reaching an inflection point’
NVIDIA founder and CEO Jensen Huang speaks during the NVIDIA GTC Paris keynote, part of the 9th edition of the VivaTech technology startup and innovation fair, held at the Dôme de Paris in the Porte de Versailles exhibition center in Paris on June 11, 2025.
Mustafa Yalcin | Anadolu | Getty Images
Stocks open Wednesday little changed
Trump says China will supply rare earths in ‘done’ deal with U.S.
U.S. President Donald Trump holds a USA hat as he disembarks Air Force One upon arrival at Pope Army Airfield, in North Carolina, U.S., June 10, 2025.
Evelyn Hockstein | Reuters
U.S. President Donald Trump said in a Truth Social post on Wednesday said that “our deal with China is done” and that China will supply rare earths upfront to the U.S. as part of a trade agreement.
Trump said that magnets and “any necessary rare earths” will be supplied up front by China and that the U.S. will in turn make certain concessions such as allowing Chinese students to attend U.S. colleges and universities. The relationship between the world’s two largest economies is “excellent,” Trump said, adding “WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%.”
The agreement outlined between U.S. and Chinese officials in London is still subject to final approval with himself and China President Xi Jinping, Trump said in the post. More on this here.
— Sam Meredith, April Roach
Stock futures jump after May inflation report, Treasury yields dip
Futures tied to the three major U.S. stock indexes immediately jumped—reversing their earlier losses—after May’s consumer price index data eased fears that the Trump administration’s tariffs would have hiked inflation.
Bond yields turned lower, meanwhile. The 10-year Treasury yield was last around 2 basis points lower at 4.45%.
— Pia Singh
May CPI rises less than expected
A customer shops at a T.J. Maxx store on May 21, 2025 in Chicago, Illinois.
Scott Olson | Getty Images
Consumer prices rose slightly less than expected last month, giving investors some hope that inflation could be easing.
The consumer price index rose 0.1% in May from the prior month. Economists polled by Dow Jones expected CPI to rise 0.2%. Year over year, CPI increased by 2.4%, in line with expectations.
Core CPI, which strips out food and energy prices, also increased 0.1%, less than expected.
— Fred Imbert
See the stocks moving in premarket trading
These are some of the stocks making notable moves before the bell on Wednesday:
- GameStop — Shares of the video game retailer and meme stock slid 4%. GameStop posted first-quarter revenue of $732.4 million, down from the $881.8 million figure seen in the same period a year ago.
- Tesla — The electric vehicle maker’s stock rose 1.7%, making it poised to record its fourth straight positive day. That comes after shares cratered last week following CEO Elon Musk’s online feud with President Donald Trump. Musk said on Wednesday that he regrets some of his social media posts regarding Trump.
- Quantum computing — Quantum computing stocks advanced after Nvidia CEO Jensen Huang said during a developer conference that the space was reaching an inflection point. Shares of Quantum Computing climbed 7%, while Rigetti Computing and IonQ popped more than 4% and 3%, respectively. D-Wave Quantum added nearly 2%.
Click here for the full list.
— Alex Harring
Bank of America sees 18% upside from here for GE Vernova
GE Vernova should rise on the back of U.S. electrical load growth, according to Bank of America.
Bank of America analyst Andrew Obin lifted his price target for GE Vernova to $550 per share from $520, corresponding to an upside of 18% from the stock’s Tuesday close of $465.31. Obin kept his buy rating on the stock.
Shares of GE Vernova have rallied 41% this year.
GEV YTD chart
“We increase our 2027/28 Power revenue estimates by 2% and 5%, respectively,” the analyst wrote. “Our target multiple is a premium to the 15x peer average on 2025E to reflect above-peer earnings growth and margin expansion.”
As a catalyst, Obin cited increased U.S. electrical demand, which should grow at a compound annual growth rate of 2.5% from 2024 to 2035, resulting in raised estimates for GE Vernova’s Power segment. With U.S. demand taking up a lot of GE Vernova’s capacity additions, the company may need to further expand beginning in the second half of next year.
Meanwhile, U.S. load growth has also led to GE Vernova adding capacity to its electrification segment.
“We see building and vehicle electrification driving faster electrical load growth. This should drive increased demand for grid and power generation equipment as well as gas power services,” Obin wrote. “Our Buy rating reflects these demand tailwinds and margin expansion trajectory.”
— Lisa Kailai Han
Goldman Sachs raises Datadog price target to $138 per share
In a Tuesday note, Goldman Sachs raised its price target on cloud computing stock Datadog to $138 per share from $127. The bank simultaneously reiterated its buy rating on the name.
Shares of Datadog have shed 16% this year, but Goldman Sach’s revised forecast implies the stock could add 15% from here.
DDOG YTD chart
Analyst Kash Rangan raised his price target after attending Datadog’s 2025 DASH conference in New York City.
“We continue to view Datadog as a compounding growth asset,” he wrote. “We walked away incrementally more constructive on Datadog’s competitive positioning as a strategic infrastructure software provider with an end-to-end observability platform, while long-term growth prospects are bolstered by new product momentum and multiple secular tailwinds — scaling AI workloads, platform consolidation and digital transformation.”
In particular, the analyst was encouraged by Datadog’s “robust suite of AI innovations, “strategic product enhancements” and “further expansion into adjacent product vectors.”
— Lisa Kailai Han
Quantum computing stocks rise after Nvidia CEO comments
Nvidia CEO Jensen Huang delivers the keynote address during the Nvidia GTC 2025 at SAP Center in San Jose, California, on March 18, 2025.
Justin Sullivan | Getty Images News | Getty Images
Quantum computing stocks rose in the premarket after Nvidia CEO Jensen Huang said the space was in an inflection point.
Shares of Quantum Computing popped 8%, while Rigetti Computing climbed 4%. Huang was speaking at the VivaTech conference in Paris.
QUBT 5-day chart
— Fred Imbert
U.S. and China officials reach a trade consensus
U.S. Treasury Secretary Scott Bessent and Chinese vice premier He Lifeng pose for a photo with U.S. Trade Representative Jamieson Greer, U.S. Secretary of Commerce Howard Lutnick, Chinese Commerce Minister Wang Wentao, and China’s International Trade Representative and Vice Minister of Commerce Li Chenggang, in London, Britain June 9, 2025.
United States Treasury | Via Reuters
Representatives of the U.S. and China arrived at a consensus on trade after a second day of talks in London, according to an NBC transcript.
U.S. Commerce Secretary Howard Lutnick said that he and U.S. Trade Representative Jamieson Greer would return to Washington to “make sure President Trump approves” of the framework.
U.S. stock futures were little changed following the development. S&P 500 futures, Nasdaq 100 futures and Dow futures were all down roughly 0.1% each.
Read more from CNBC’s Evelyn Cheng on the latest surrounding the trade talks here.
—Darla Mercado
Stocks making the biggest moves after hours
Check out some of the companies making headlines in extended trading.
- Dave & Buster’s — Stock in the arcade and restaurant company gained more than 9% after Dave & Buster’s reaffirmed its full-year guidance. Executives also pointing to encouraging data so far in June
- GitLab — The software stock pulled back 13% after the lower end of GitLab’s second-quarter outlook missed analyst estimates for both earnings and revenue. GitLab’s first-quarter results surpassed analyst expectations on the top and bottom line.
- GameStop — Shares pulled back roughly 5% after first-quarter revenue missed analyst estimates. GameStop notched revenue of $732.4 million, while analysts polled by FactSet forecast $750 million.
— Brian Evans
Stock futures are little changed
Traders work on the floor of the New York Stock Exchange on June 10, 2025.
NYSE
Stock futures were little changed on Tuesday, with investors looking for more progress on trade policy as talks between the U.S. and China continue.
Futures tied to the Dow Jones Industrial Average slipped 24 points, or 0.06%. S&P 500 futures lost 0.07%, while Nasdaq 100 futures pulled back 0.04%.
— Brian Evans
Traders work on the floor of the New York Stock Exchange on June 10, 2025.
NYSE
Stocks wavered on Wednesday after the release of softer-than-expected inflation data, and as the U.S. and China reached a preliminary trade agreement.
The Dow Jones Industrial Average advanced 166 points, or 0.4%. The S&P 500 added 0.1%, while the Nasdaq Composite edged lower by less than 0.1%. The S&P 500 rose in six of the last seven trading days and was less than 2% below a record reached in February. At one point, the benchmark index was about 20% below a record.
Shares of Tesla added 1%, on track for their fourth straight winning day, after CEO Elon Musk said he regrets some of the social media posts he made regarding Trump. Musk also announced on Tuesday that Tesla robotaxi rides in Austin, Texas, are ‘tentatively’ set to start on June 22. Separately, quantum computing stocks jumped after Nvidia CEO Jensen Huang said the space is reaching an inflection point.
The consumer price index rose 0.1% in May from April, less than the 0.2% estimate from economists polled by Dow Jones. Core CPI, which strips out volatile food and energy prices, also increased 0.1%, less than expected.
“Inflation in May was lower than anticipated, suggesting the tariffs aren’t having a large immediate impact because companies have been using existing inventories or slowly adjusting prices due to uncertain demand,” said Alexandra Wilson-Elizondo, global co-CIO of multi-asset solutions at Goldman Sachs Asset Management.
“As we wait for the 90-day tariff pause to pass, the market will be caught between inflation and job prints. If inflation stays under control or the job market weakens, the Federal Reserve will likely consider cutting interest rates down the road,” Wilson-Elizondo said.
Discussions between U.S. and Chinese officials have been a key focus this week for investors who remain on edge regarding trade policy.
Officials reached a consensus after two days of talks in London, but said that they will seek approval on the framework from the U.S. and Chinese presidents before implementing it. As part of the framework, China would approve the exports of rare earth minerals while the U.S. would roll back restrictions on the sale of advanced technology to China.
Even as the framework is being finalized, Commerce Secretary Howard Lutnick said Wednesday that U.S. tariffs on Chinese imports will not change from their current levels.
President Donald Trump said earlier in a Truth Social post that the deal with China is “done, subject to final approval with President Xi and me.” As part of the deal framework, he said that magnets and “any necessary rare earths” will be supplied up front by China and the U.S. will allow Chinese students to attend U.S. colleges and universities, adding that “WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%.”
— CNBC’s Evelyn Cheng contributed reporting.
Okla, Chewy among stocks making midday moves
Check out the companies making the biggest moves midday:
- Oklo — The advanced reactor company surged more than 25% after receiving a notice that it will likely win an award to power an Air Force base. Oklo would deploy one of its Aurora powerhouse plants at Eielson Air Force Base in Alaska. The award is not finalized and Oklo’s reactor design has not been approved by the Nuclear Regulatory Commission yet.
- GameStop — Shares slipped nearly 5% after GameStop posted first-quarter revenue of $732.4 million, down from the $881.8 million figure seen in the same period a year prior.
- Chewy — The pet-focused e-commerce retailer tumbled 10% after posting 15 cents in earnings per share for the first quarter, missing the consensus forecast of 20 cents from analysts polled by LSEG. On the other hand, Chewy saw $3.12 billion in revenue, exceeding Wall Street’s prediction of $3.08 billion.
For the full list, read here.
— Pia Singh
Oklo surges after taking step closer to power Air Force base
Oklo Aurora powerhouse.
Courtesy: Oklo Inc.
Oklo shares surged more than 25% after the nuclear technology company took a step toward powering an Air Force base with its proposed advanced reactor design.
Oklo received a notice that it will likely win an award to deploy one of its Aurora powerhouse plants at the Eielson Air Force Base in Alaska. It would design, construct, own and operate the plant under the terms of the anticipated agreement.
The award is not finalized. Oklo’s reactor design has also not been approved by the Nuclear Regulatory Commission yet.
— Spencer Kimball
Lutnick says U.S. tariffs on China won’t change again
Commerce Secretary Howard Lutnick said on “Money Movers” that the U.S. tariffs on China won’t change from here.
Specifically, Lutnick was asked if it was fair to say the China tariffs won’t change after this week’s talks in London. He responded with “you can definitely say that.”
A trade deal between the U.S. and China has still not been finalized.
— Jesse Pound
Quantum stocks pop after Nvidia CEO says industry is ‘reaching an inflection point’
NVIDIA founder and CEO Jensen Huang speaks during the NVIDIA GTC Paris keynote, part of the 9th edition of the VivaTech technology startup and innovation fair, held at the Dôme de Paris in the Porte de Versailles exhibition center in Paris on June 11, 2025.
Mustafa Yalcin | Anadolu | Getty Images
Stocks open Wednesday little changed
Trump says China will supply rare earths in ‘done’ deal with U.S.
U.S. President Donald Trump holds a USA hat as he disembarks Air Force One upon arrival at Pope Army Airfield, in North Carolina, U.S., June 10, 2025.
Evelyn Hockstein | Reuters
U.S. President Donald Trump said in a Truth Social post on Wednesday said that “our deal with China is done” and that China will supply rare earths upfront to the U.S. as part of a trade agreement.
Trump said that magnets and “any necessary rare earths” will be supplied up front by China and that the U.S. will in turn make certain concessions such as allowing Chinese students to attend U.S. colleges and universities. The relationship between the world’s two largest economies is “excellent,” Trump said, adding “WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%.”
The agreement outlined between U.S. and Chinese officials in London is still subject to final approval with himself and China President Xi Jinping, Trump said in the post. More on this here.
— Sam Meredith, April Roach
Stock futures jump after May inflation report, Treasury yields dip
Futures tied to the three major U.S. stock indexes immediately jumped—reversing their earlier losses—after May’s consumer price index data eased fears that the Trump administration’s tariffs would have hiked inflation.
Bond yields turned lower, meanwhile. The 10-year Treasury yield was last around 2 basis points lower at 4.45%.
— Pia Singh
May CPI rises less than expected
A customer shops at a T.J. Maxx store on May 21, 2025 in Chicago, Illinois.
Scott Olson | Getty Images
Consumer prices rose slightly less than expected last month, giving investors some hope that inflation could be easing.
The consumer price index rose 0.1% in May from the prior month. Economists polled by Dow Jones expected CPI to rise 0.2%. Year over year, CPI increased by 2.4%, in line with expectations.
Core CPI, which strips out food and energy prices, also increased 0.1%, less than expected.
— Fred Imbert
See the stocks moving in premarket trading
These are some of the stocks making notable moves before the bell on Wednesday:
- GameStop — Shares of the video game retailer and meme stock slid 4%. GameStop posted first-quarter revenue of $732.4 million, down from the $881.8 million figure seen in the same period a year ago.
- Tesla — The electric vehicle maker’s stock rose 1.7%, making it poised to record its fourth straight positive day. That comes after shares cratered last week following CEO Elon Musk’s online feud with President Donald Trump. Musk said on Wednesday that he regrets some of his social media posts regarding Trump.
- Quantum computing — Quantum computing stocks advanced after Nvidia CEO Jensen Huang said during a developer conference that the space was reaching an inflection point. Shares of Quantum Computing climbed 7%, while Rigetti Computing and IonQ popped more than 4% and 3%, respectively. D-Wave Quantum added nearly 2%.
Click here for the full list.
— Alex Harring
Bank of America sees 18% upside from here for GE Vernova
GE Vernova should rise on the back of U.S. electrical load growth, according to Bank of America.
Bank of America analyst Andrew Obin lifted his price target for GE Vernova to $550 per share from $520, corresponding to an upside of 18% from the stock’s Tuesday close of $465.31. Obin kept his buy rating on the stock.
Shares of GE Vernova have rallied 41% this year.
GEV YTD chart
“We increase our 2027/28 Power revenue estimates by 2% and 5%, respectively,” the analyst wrote. “Our target multiple is a premium to the 15x peer average on 2025E to reflect above-peer earnings growth and margin expansion.”
As a catalyst, Obin cited increased U.S. electrical demand, which should grow at a compound annual growth rate of 2.5% from 2024 to 2035, resulting in raised estimates for GE Vernova’s Power segment. With U.S. demand taking up a lot of GE Vernova’s capacity additions, the company may need to further expand beginning in the second half of next year.
Meanwhile, U.S. load growth has also led to GE Vernova adding capacity to its electrification segment.
“We see building and vehicle electrification driving faster electrical load growth. This should drive increased demand for grid and power generation equipment as well as gas power services,” Obin wrote. “Our Buy rating reflects these demand tailwinds and margin expansion trajectory.”
— Lisa Kailai Han
Goldman Sachs raises Datadog price target to $138 per share
In a Tuesday note, Goldman Sachs raised its price target on cloud computing stock Datadog to $138 per share from $127. The bank simultaneously reiterated its buy rating on the name.
Shares of Datadog have shed 16% this year, but Goldman Sach’s revised forecast implies the stock could add 15% from here.
DDOG YTD chart
Analyst Kash Rangan raised his price target after attending Datadog’s 2025 DASH conference in New York City.
“We continue to view Datadog as a compounding growth asset,” he wrote. “We walked away incrementally more constructive on Datadog’s competitive positioning as a strategic infrastructure software provider with an end-to-end observability platform, while long-term growth prospects are bolstered by new product momentum and multiple secular tailwinds — scaling AI workloads, platform consolidation and digital transformation.”
In particular, the analyst was encouraged by Datadog’s “robust suite of AI innovations, “strategic product enhancements” and “further expansion into adjacent product vectors.”
— Lisa Kailai Han
Quantum computing stocks rise after Nvidia CEO comments
Nvidia CEO Jensen Huang delivers the keynote address during the Nvidia GTC 2025 at SAP Center in San Jose, California, on March 18, 2025.
Justin Sullivan | Getty Images News | Getty Images
Quantum computing stocks rose in the premarket after Nvidia CEO Jensen Huang said the space was in an inflection point.
Shares of Quantum Computing popped 8%, while Rigetti Computing climbed 4%. Huang was speaking at the VivaTech conference in Paris.
QUBT 5-day chart
— Fred Imbert
U.S. and China officials reach a trade consensus
U.S. Treasury Secretary Scott Bessent and Chinese vice premier He Lifeng pose for a photo with U.S. Trade Representative Jamieson Greer, U.S. Secretary of Commerce Howard Lutnick, Chinese Commerce Minister Wang Wentao, and China’s International Trade Representative and Vice Minister of Commerce Li Chenggang, in London, Britain June 9, 2025.
United States Treasury | Via Reuters
Representatives of the U.S. and China arrived at a consensus on trade after a second day of talks in London, according to an NBC transcript.
U.S. Commerce Secretary Howard Lutnick said that he and U.S. Trade Representative Jamieson Greer would return to Washington to “make sure President Trump approves” of the framework.
U.S. stock futures were little changed following the development. S&P 500 futures, Nasdaq 100 futures and Dow futures were all down roughly 0.1% each.
Read more from CNBC’s Evelyn Cheng on the latest surrounding the trade talks here.
—Darla Mercado
Stocks making the biggest moves after hours
Check out some of the companies making headlines in extended trading.
- Dave & Buster’s — Stock in the arcade and restaurant company gained more than 9% after Dave & Buster’s reaffirmed its full-year guidance. Executives also pointing to encouraging data so far in June
- GitLab — The software stock pulled back 13% after the lower end of GitLab’s second-quarter outlook missed analyst estimates for both earnings and revenue. GitLab’s first-quarter results surpassed analyst expectations on the top and bottom line.
- GameStop — Shares pulled back roughly 5% after first-quarter revenue missed analyst estimates. GameStop notched revenue of $732.4 million, while analysts polled by FactSet forecast $750 million.
— Brian Evans
Stock futures are little changed
Traders work on the floor of the New York Stock Exchange on June 10, 2025.
NYSE
Stock futures were little changed on Tuesday, with investors looking for more progress on trade policy as talks between the U.S. and China continue.
Futures tied to the Dow Jones Industrial Average slipped 24 points, or 0.06%. S&P 500 futures lost 0.07%, while Nasdaq 100 futures pulled back 0.04%.
— Brian Evans
