6/10/25

US stocks tick higher on positive feedback from trade talks

Stocks cruised higher for the second day in a row as Wall Street looked ahead to the outcome of US-China trade talks. US Commerce Secretary Howard Lutnick said discussions were “going really, really well” after another day of negotiations. The S&P 500 rose about 0.5%, closing less than 2% away from its record high, while the Nasdaq 100 gained 0.7%. Meanwhile, the Russell 2000 was up 0.6%.

Energy led sector gains, closing up 1.7%, while industrials was the only sector that finished in the red. J.M. Smucker shares led S&P 500 decliners, slipping over 15% after the Uncrustables maker posted quarterly sales that came in below Wall Street’s estimates. Elsewhere…

Tesla traded up more than 5% on recent company tweets that suggest its long-awaited robotaxi launch is imminent — and on time.

Midwestern gas and convenience chain Casey’s General Stores soared 11% following a strong earnings report posted Monday after the bell, as food continues to drive profits.

Warner Bros. Discovery jumped 5% as investors digested Monday’s announcement that the company will split into two separate publicly traded entities.

Oil names including Schlumberger, ConocoPhillips, and Halliburton all climbed over 3.5% as trade talk momentum lifted hopes for stronger global energy demand.

Paramount shares ticked up over 1% after the legacy media company said it would cut 3% of its workforce as it grapples with shifting audience habits and pressure to cut costs.

Flutter Entertainment shares rose nearly 2% after the FanDuel parent announced a new $0.50 surcharge on bets placed in Illinois to offset the state’s new tax hike. Rival DraftKings popped nearly 4%.

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S&P 500, Nasdaq 100 post record closing highs as nearly everything rallies

The benchmark US stock index ended up 0.9%, the Nasdaq 100 rose 0.6%, and the Russell 2000 outperformed with a 1.8% gain.

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14h

Warner Bros. Discovery jumps after Wells Fargo ups price target on dealmaking buzz

Warner Bros. Discovery shares popped 7% Tuesday after Wells Fargo raised its price target on the media giant to $14 from $13 while keeping an equal-weight rating.

The bank’s optimism stemmed largely from the media giant’s potential for dealmaking. In June, WBD announced that it would split its operations into two companies, with the Streaming & Studios division (home to Warner Bros. Television, DC Studios, HBO, and Max) standing alone from the networks side (CNN, TNT Sports, and Discovery).

That separation could make the Streaming & Studios unit more attractive to buyers, the analysts said. They valued the segment at about $65 billion, which could translate to a takeover price north of $21 a share. Potential suitors range from Amazon and Apple to Sony and Comcast, though analysts flagged Netflix as the “most compelling” option despite its limited acquisition track record:

“While NFLX has historically not been acquisitive, [streaming and studios’] $12bn in annual content spend + library + 100+ acre studio lot offers a lot. It kickstarts a theatrical IP strategy, quickly scales video games and most importantly provides premium content to members.”

At Goldman Sachs’ Communacopia + Technology Conference this week, CEO David Zaslav also highlighted growing traction at HBO Max and hinted at future crackdowns on password sharing.

WBD shares are up 26% year to date, and up more than 93% over the past 12 months.

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Duolingo up on bullish note, hopes for a user rebound

Duolingo rose by the most in nearly a month after an analyst note painted a more bullish picture of the gamified language-learning company despite a dearth of news otherwise.

A quick check-in with analysts covering the stock on Wall Street found most of them otherwise flummoxed on the reason behind the uptick Thursday.

Some, however, suggested the rise may reflect optimism that the company has been able to reverse a monthslong downturn in daily active user metrics — a slump that set in after a social media backlash to a somewhat artless LinkedIn post from the company about its AI first strategy.

The bullish analyst note, published Thursday by Citizens JMP, suggested Duolingo could be a big beneficiary from a change to Apple’s rules governing its App Store driven by a ruling on a federal antitrust case against the company. The analysts wrote:

Given “Apple’s recent changes to U.S. App Store rules that allow developers to steer payments to the web where fees are similar to typical credit card fees rather than Apple’s 30% fee for in-app purchases and 30% fee on subscriptions for the first year and 15% thereafter, we expect mobile app companies including Duolingo, Life360, and Grindr Inc. to unlock meaningful cost benefits.”

At any rate, the next big event on the company’s calendar is its Duocon 2025 conference on Tuesday, where analysts are hoping to hear more hard information on all of the above topics.

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Jeep maker Stellantis surges as CEO says the automaker is in productive tariff talks with the US

Shares of Jeep and Dodge maker Stellantis are up more than 8% in Thursday afternoon trading, following comments from the automaker’s new CEO, Antonio Filosa, at a European auto conference.

On tariffs, Filosa said that Stellantis has had a “very productive exchange of ideas” with the Trump administration on the company’s manufacturing footprint and that the environment around the levies is “getting clearer and clearer.”

The US is Stellantis’ top priority, according to Filosa, and the company has taken efforts to turn things around in the market, where it’s struggled with sales in recent years. To fuel the turnaround, Stellantis is bringing back its popular Jeep Cherokee, which it discontinued in 2023.

As of 12:45 p.m. ET, Stellantis’ trading volume was at more than 140% of its average over the past 30 days.

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