Major US indexes plummeted near noon as investors reacted to key inflation data and recent trade policy developments. The Federal Reserve’s core personal consumption expenditures price index showed a 0.4% increase for February, pushing the 12-month inflation rate to 2.8%. This hotter-than-expected reading led to sharp declines in the Dow (down 1.26%), Nasdaq (down 2.22%), and S&P 500 (down 1.56%).
In the commodities market, gold prices edged higher, reaching a record high above $3,100, while oil prices fell but remain near one-month highs. Investors are also waiting for the first trade in CoreWeave after its IPO was priced at $40 per share.
Here are some top stock picks and analyst calls: Lululemon (LULU) reported better-than-expected Q4 results, while Jefferies downgraded KLA Corp. (KLAC) to Hold from Buy. FBN Securities initiated coverage of Roku (ROKU) with an Outperform rating.
Additionally, several companies received significant news, including Rocket Lab’s $5.6B Air Force contract and SoftBank’s plan to establish industrial parks featuring AI-equipped factories in the US.
In earnings news, LiqTech reported Q4 results and provided guidance for Q1, while CureVac increased after European patent validation.
Source: https://finance.yahoo.com/news/lululemon-reports-q4-beat-coreweave-160526047.html