Apple Intelligence Coming Soon, S&P + Nasdaq Hit Records | Wall Street Today

By direction, 6700 equities climbed in the U.S. and 6200 fell.

This week, investors can expect CPI and PPI data, but most importantly, an FOMC rate decision on Wednesday at 2 PM EST. The Fed will also display its economic predictions, a dot plot of where members of the Open Market Committee see rates in the coming months, and signal how many rate cuts it expects to make for the remainder of the year.

According to the CME Fed Watch tool, the futures prices of ZTrasuries are pricing in the next rate change after September, where target rate 'chances' go above less than 1%.  

Last week, investors watched labor data that appeared too hot for the possibility of a rate cut.

Friday, the nonfarm payrolls release showed employment grew in April to 272,000 in May compared to 182K expected. According to the Labor Department, that's about 100k more than the economy added in April. The unemployment rate climbed to 4% for the first time in more than two years, up from April's 3.9%.

In sectors,  publicly listed semiconductor companies climbed 1% following a rebound in Nvidia stock priceThe stock was trading below $120/share after a 10-1 split, a level not seen for two years before climbing.

Consumer Electronics was another industry group hit by the news, down nearly 2% after Apple's AI presentation foretold a stock sell-off as investors weighed incoming Apple features.

Gold and Silver both climbed in price by about 66  bips and 170 bips, respectively. Crude oil futures climbed about 3% after pulling back from OPEC+ supply changes last week. The price level is still below prices last.