Stocks Steady as Markets Weigh Fed Signals: Market Wrap
US stocks trimmed earlier gains while Treasury yields fell, as investors parsed Federal Reserve comments for insights on future rate cuts following last week’s reduction. The S&P 500 managed a modest 0.2% rise, with Intel and Constellation Energy among the top performers. Intel surged 2.7% after reports of a potential multibillion-dollar investment from Apollo Global Management, while Constellation gained on favorable analyst reactions to its partnership with Microsoft.
In Europe, weaker-than-expected PMI data from France and Germany pushed the euro lower, even as European stocks nudged higher. Meanwhile, gold hit a record high amid growing geopolitical concerns, and speculation about fresh stimulus from China lifted Asian markets.
Corporate Highlights:
- Intel Corp. (INTC) saw a 2.7% boost on news of a potential multibillion-dollar investment from Apollo Global Management.
- Constellation Energy Corp. (CEG) rose after its deal with Microsoft received positive analyst feedback.
- Brookfield Asset Management (BAM) raised $2.4 billion for clean energy investments in emerging markets.
- Palantir Technologies (PLTR) CEO Alex Karp maintains a complex relationship with Wall Street, favoring retail investors.
- StandardAero Inc. (PRIVATE) is aiming for a $1.1 billion IPO backed by Carlyle Group.
- BNP Paribas (BNP.PA) agreed to acquire HSBC’s private banking operations in Germany.
- UniCredit (UCG.MI) seeks to double its stake in Commerzbank, escalating tensions with the German government.
- Asian markets gained on speculation of new stimulus measures from China.
- Gold surged to a new record high due to rising Middle East tensions.
