Markets opened the day on a steady note, with slight gains across the major U.S. equity indices. The S&P 500 ticked up 0.2%, the Nasdaq Composite added 0.3%, and the small-cap Russell 2000 remained flat, reflecting a cautious but mildly optimistic sentiment across the board.

Mega-Cap Techs Push Higher

The so-called “Magnificent Seven” technology giants continued to show resilience, supporting broader market strength. Notable moves included:

• Tesla (+1.1%) and Nvidia (+1.1%) led the pack, shrugging off mixed headlines and maintaining momentum.
• Alphabet rose 0.7%, Amazon 0.5%, and Apple 0.4%, signaling ongoing investor confidence in big tech fundamentals.
• Meta Platforms and Microsoft each posted modest gains of 0.3%, contributing to the Nasdaq’s steady climb.

The strength in this elite group underscores the market’s reliance on a narrow group of leaders, especially in an environment marked by macroeconomic uncertainty and uneven sector performance.

Company Highlights: Mixed Bag of Earnings and Headlines

FedEx Sinks on Outlook

Shares of FedEx dropped sharply by 6% after the company issued weaker-than-expected guidance for its upcoming quarter. Management pointed to ongoing tariff-related uncertainties and sluggish demand trends, raising investor concerns about the health of global trade and logistics.

Tesla Gains Despite Slump in EU Sales

Tesla rose 0.7%, outperforming the broader auto space, even as new data revealed a sharp 40.5% year-over-year decline in European Union sales for May, totaling just 8,729 vehicles. The move suggests investors are either looking past the temporary slump or betting on a rebound in other regions or product lines.

General Mills Disappoints

Packaged foods giant General Mills saw its shares slip 2% after reporting revenues that fell short of expectations. The company also signaled subdued growth in its adjusted earnings for the full year, adding to concerns over margin pressures in the consumer staples sector.

Yum! Brands Gets a Lift

Fast food conglomerate Yum! Brands climbed 1.5% after receiving an analyst upgrade from JPMorgan. The upgrade appears to have restored some investor confidence amid ongoing debates about global franchise performance and consumer spending resilience in the quick-service restaurant category.

BYD Slashes Production

Chinese EV manufacturer BYD’s U.S.-listed shares gained 1.5% despite reports that the company has reduced vehicle production by at least one-third at four of its facilities in China. The production cuts highlight the broader challenges facing the global EV industry, from supply chain constraints to fluctuating consumer demand.

Tyson Foods Faces Political Pressure

Shares of Tyson Foods remained flat after Senator Josh Hawley publicly criticized the company, labeling it a monopolist. The comments add to the growing political scrutiny over corporate concentration in the U.S. food industry, although immediate market impact was muted.

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Today’s market reflects a complex blend of resilience and concern. While mega-cap tech stocks continue to buoy major indices, individual corporate developments—particularly in logistics, consumer goods, and autos—underscore lingering challenges. Investors appear to be treading cautiously, favoring strength in select sectors while remaining alert to shifting fundamentals and macro risks.