Stock Market Impact: S&P 500 fell 0.5% to 7,334.18, Dow Jones down 0.5% to 50,534.79, Nasdaq Composite dropped 1.8% to 25,452.34 as the earlier chip rally dissipated, pulling the technology sector lower.
Listed Companies and Sectors: OpenAI filed a confidential IPO, highlighting AI sector interest; Broadcom’s weak quarterly results had previously pressured chip stocks; GlaxoSmithKline announced a $10.6 bn acquisition of Nuvalent, sending Nuvalent shares up sharply; Vail Resorts cut its full‑year outlook due to low snowfall, causing its shares to fall.
Investment Flows: No specific FDI/FPI data mentioned; market sentiment affected by expectations of a potential Iran peace deal and its impact on oil supplies.
Interest Rates, Inflation, and Liquidity: Traders await the May U.S. Consumer Price Index; markets anticipate at least one Federal Reserve rate hike this year; U.S. 10‑year Treasury yields were little changed, while the 2‑year yield dipped about 2 basis points.
Fiscal or Monetary Policy: The upcoming CPI release will guide Federal Reserve policy decisions; no direct fiscal measures reported.
