The stock market today is showing a mixed picture with some notable calls from Wall Street, including upgrades for major companies like Zoom and Chevron. At the same time, the latest news from former President Donald Trump about new tariff proposals has added volatility to certain sectors. Let’s dive into the key stories driving today’s market action.
Stock Upgrades: Zoom, Chevron, and Marvell See Big Moves
Today’s market saw some major upgrades for stocks, including Zoom (Nasdaq: ZM), Chevron (NYSE: CVX), and Marvell (Nasdaq: MRVL), though market reactions have varied.
Zoom (Nasdaq: ZM) – Multiple Upgrades but Shares Down
Zoom was a standout today with multiple analysts upgrading their price targets following the company’s recent earnings report. Bernstein raised its price target to $89, while Bank of America bumped its target up to $90, maintaining a neutral rating. Despite these optimistic price targets, Zoom shares are down 8% today, showing how volatile the stock market can be, especially when investor expectations aren’t fully met after earnings reports.
| Analyst | Price Target | Stock Reaction |
|---|---|---|
| Bernstein | $89 | Down 8% |
| Bank of America | $90 | Down 8% |
The question is whether these upgrades will prove to be enough to drive Zoom’s recovery or if the stock continues to experience volatility in the short term.
Chevron (NYSE: CVX) – Positive Catalyst Watch
Chevron has been placed on a 90-day positive catalyst watch by Citi analyst Alastair Syme. The bank has set a price target of $185 for Chevron, noting potential positive developments in the coming months. Energy stocks like Chevron often see price swings due to global oil price changes and geopolitical tensions, so this could be an interesting stock to watch if market conditions shift.
Market Overview: Mixed Results
As of shortly before noon, the broader market is showing a mix of performance across major indices:
| Index | Change | Percentage Change |
|---|---|---|
| S&P 500 | +21.05 | +0.35% |
| Nasdaq-100 | +88.61 | +0.46% |
| Russell 2000 | -12.26 | -0.50% |
| Dow Jones | -118.71 | -0.26% |
While the S&P 500 and Nasdaq are both seeing slight gains, the Dow Jones and Russell 2000 are trailing, with small-cap stocks in the Russell 2000 suffering more than large-cap stocks.
Sectors leading the charge today:
- Utilities (+1.08%)
- Information Technology (+0.55%)
Meanwhile, sectors that are underperforming include Energy (-0.25%) and Materials (-0.73%).
Trump’s New Tariff Proposal – Market Reaction
In political news, Donald Trump recently proposed new tariffs on Chinese imports. In a post on his Truth Social platform, Trump stated that China has failed to curb the flow of fentanyl into the U.S., which he claims is contributing to the drug crisis. He proposed a new 10% tariff on all products coming from China, in addition to any existing tariffs, if China doesn’t act to stop drug trafficking.
While this is a strong stance from the former president, markets are not reacting as dramatically as one might expect. Historically, Trump’s tariff threats are often seen more as negotiation tactics than as concrete actions, so investors are taking this news with a grain of salt.
Stock Market Laggards Today: Amgen and General Motors
On the downside, Amgen (Nasdaq: AMGN) and General Motors (NYSE: GM) are among the biggest laggards in the market today.
Amgen (Nasdaq: AMGN)
Amgen announced positive news regarding its experimental weight loss drug, with patients losing an average of 20% of their body weight. However, the results didn’t meet Wall Street’s expectations, which led to a 10% drop in Amgen’s shares today. The drug’s promising results were overshadowed by the fact that they were lower than expected, leaving investors less confident.
General Motors (NYSE: GM)
General Motors is also feeling the pressure of Trump’s tariff threat. With significant manufacturing operations in both Canada and Mexico, GM would likely be hit hard by tariffs imposed on those countries. The potential for tariffs on Canadian and Mexican goods could raise production costs, especially for carmakers like GM, which rely on these regions for parts and assembly.
Credit Card Wars: A Battle for Customers
In the world of credit cards, companies are competing fiercely for the best customers. Several of the top issuers have rolled out rewards programs that offer unlimited cash back or generous benefits, such as 2% cash back on all purchases. For qualified borrowers, this is essentially “free money,” and it’s hard to resist the allure of earning rewards while making everyday purchases.
The result? Credit card companies are shifting their focus to attract higher-quality customers who can maximize the value of these rewards. If you’re a consumer looking to take advantage of these offers, now might be the best time to apply for a new card, as these rewards can add up to thousands of dollars a year.
Today’s market is full of action with upgrades for major stocks like Zoom, Chevron, and Marvell, though some companies are facing challenges, including Amgen and General Motors. As investors keep an eye on the ongoing tariff threats from Trump, certain sectors like industrials and energy are feeling the pressure, while utilities and tech stocks are leading the charge.
Investors should remain cautious and stay updated on the evolving economic landscape, especially with potential tariff impacts on global trade and businesses.