Stock Market Today: Live Updates

The S&P 500 was up slightly as the shortened trading week began.

As of just after 9:30 a.m. ET, the composite index was up just 0.2%. The Nasdaq Composite was up 0.5% while the Dow was down 0.3%.

Alex Harring

Apple shares rose about 2% in premarket trading on Tuesday after the data reflected China’s recovery.

Data analyzed by UBS showed that iPhone shipments in China grew about 52% year-over-year in April, but the firm warned that these figures could be “volatile” and that investors shouldn’t jump to the conclusion that a regional turnaround is happening based solely on this month’s figures.

The data was first reported by Bloomberg News.

Here are some companies to watch before the bell rings.

• GameStop Corp. — Shares soared nearly 27% after the company said on Friday it made about $933.4 million in profits from a stock sale. The company sold 45 million shares of its common stock.
• NVIDIA — The chipmaker’s stock price rose 3% in premarket trading, continuing its rally after reporting quarterly earnings on Wednesday. Shares surged 15% last week, topping $1,000 for the first time.
• Norwegian Cruise Line Holdings Ltd. — Cruise shares rose 3% after Mizuho Securities raised its rating on the stock to buy from neutral. The investment firm said Norwegian had been a target of short sellers in recent years but could benefit from a change in opinion.

You can see the complete list here.

— Kim Hagyeong

T-Mobile said on Tuesday it has signed an agreement to acquire 30% of U.S. Cellular’s wireless communications business and spectrum assets for $4.4 billion. The deal includes cash and up to about $2 billion in unassumed debt. T-Mobile also plans to enter into new licensing agreements for more than 2,000 base stations.

The transaction is expected to close in mid-2025. U.S. Cellular shares rose 7% in market trading, while T-Mobile shares fell less than 1%.

Michelle Fox

The three major indexes had mixed performances last week.

The tech-heavy Nasdaq Composite Index rose about 1.4%, while the blue-chip Dow Jones Industrial Average lost about 2.3%, its first loss in five weeks, while the S&P 500 finished just above flat.

Alex Harring

GameStop shares rose more than 20% in premarket trading after the company said on Friday it made $933 million in profits from a stock sale. The company sold 45 million shares of its common stock.

The video game retailer’s shares have been performing well this month, soaring 71.3% amid a resurgence of the meme-stock boom, but fell 14.5% last week.

Minneapolis Federal Reserve Bank President Neel Kashkari told CNBC on Tuesday that the bank isn’t ready to cut interest rates yet.

“If we continue to see positive inflation data over the coming months, I think we can be more confident that a rate cut would be appropriate,” he said, adding that the central bank could raise rates if inflation continues to fail to ease. “I don’t think we should rule anything out at this point.”

Fred Imbert

Nvidia shares rose more than 2% in morning trading, setting the tech giant on track to rise further after its earnings report last week, which saw the company surge 15% to a record high after reporting strong quarterly results.

European markets started mixed on Tuesday as momentum regained after a quiet session the previous day.

The FTSE 100 was down 0.15% at the open and France’s CAC was down 0.14%, while Germany’s DAX rose 0.23% and Italy’s FTSE MIB added 0.2%.

India’s Adani Group is in talks to enter the country’s e-commerce and payments sector, the Financial Times reported on Tuesday, citing four people familiar with the matter.

The ports-to-retail conglomerate’s expansion in the world’s most populous country will put it up against companies such as Google in payments and India’s Reliance Industries in e-commerce.

The Financial Times reported that Adani may apply for a license to operate on India’s public digital payments platform, the Unified Payments Interface (UPI), and is also in talks with banks to finalize previously announced plans for a co-branded credit card with Adani.

Adani is also in talks to offer online shopping through the Open Network for Digital Commerce, a public e-commerce platform backed by the Indian government, the Financial Times reported.

Meanwhile, the Business Standard reported, citing banking sources, that Adani Group plans to launch several roadshows this week to raise up to $4 billion through share issues and refinancing old debt.

— Shreyas Sanyal, Financial Times

Australian Bureau of Statistics data showed seasonally adjusted retail sales increased 0.1 percent in April from the previous month.

That was below the 0.2% increase expected in a Reuters poll. Retail sales rose 1.3% in April from a year earlier.

“Retail spending fundamentals remain weak and although sales increased slightly in April, this was not enough to make up for the decline in March,” Australian Bureau of Statistics head of retail statistics Ben Dover said.

“Retail sales have been flat since the start of 2024 as cautious consumers cut back on discretionary spending,” Dover added.

Shreyasi Sanyal

Japan’s services producer price index rose 2.8% year-on-year in April, the sharpest increase in nine years, providing the Bank of Japan with a new gauge of sustained inflation.

The producer price index rose for the second consecutive month, exceeding the revised 2.4% recorded in March.

The services PPI measures the average change in prices received by domestic producers.

Lim Hui Jie

Here’s what was going on in the futures market on Monday night:

• Futures tracking the Dow Jones Industrial Average rose 57 points, or 0.1 percent.
• S&P futures rose 0.2%.
• Nasdaq 100 futures rose 0.3%

Pia Singh