The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers. The company's Cigna Healthcare segment offers medical, pharmacy, behavioral health, dental, and other products and services for insured and self-insured customers; Medicare Advantage, Medicare Supplement, and Medicare Part D plans for seniors, as well as individual health insurance plans; and health care coverage in its international markets, as well as health care benefits for mobile individuals and employees of multinational organizations. In addition, it offers permanent insurance contracts sold to corporations to provide coverage on the lives of certain employees for financing employer-paid future benefit obligations. The company distributes its products and services through insurance brokers and consultants; directly to employers, unions and other groups, or individuals; and private and public exchanges. The company was formerly known as Cigna Corporation and changed its name to The Cigna Group in February 2023. The Cigna Group was founded in 1792 and is headquartered in Bloomfield, Connecticut.

У Cigna Group сильная выручка и прибыльная база сочетаются с заметно более слабой ликвидностью и повышенной долговой нагрузкой, что делает картину фундаментально хорошей, но не безрисковой. P/E, P/S и P/FCF находятся существенно ниже медианы отрасли, что указывает на умеренную недооценённость по рынку и поддерживает оценку. При этом P/B тоже ниже отраслевого уровня, а его снижение по годам вместе с падением P/S и P/FCF говорит о том, что рынок не закладывает чрезмерный оптимизм. С другой стороны, debt/equity выше медианы, current ratio ниже 1, а quick ratio равен нулю, что для инвестора означает ограниченный запас прочности по краткосрочным обязательствам. Рентабельность остаётся приемлемой: ROE, ROA и ROI положительные, но все они ниже отраслевых ориентиров, а net profit margin и operating margin выглядят слабо и за последние периоды не демонстрируют явного улучшения. Валовая маржа, наоборот, высокая и растёт, что показывает способность компании удерживать ценовую дисциплину и качество страхово-медицинского бизнеса на верхнем уровне цепочки создания стоимости. EPS и прогноз EPS сильные, а выручка, операционная прибыль и чистая прибыль по абсолютным значениям остаются крупными, что подтверждает масштаб и устойчивость бизнеса. Однако динамика net income и operating income не выглядит линейно улучшающейся, а маржинальность в целом не успевает за ростом выручки. Дивидендная доходность невысокая, но постепенно повышается, что добавляет небольшой плюс к инвестиционной привлекательности без существенного влияния на общую оценку. В сумме фундаментал скорее поддерживает текущую оценку, чем требует её заметного повышения, потому что сильные мультипликаторы и масштаб бизнеса компенсируются слабой ликвидностью, высоким долгом и скромной операционной маржой. Для инвестора это история качественного, но капиталоёмкого и не слишком дешёвого по рискам бизнеса, где потенциал переоценки ограничен консервативной оценкой баланса и прибыльности.

The Cigna Group

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Сильный индекс, без изменений. Рынок на стороне быков.

Strong index, flat. The market is on the bulls' side.

Средний индекс, незначительно упал. Приток средств в лонги снизился, но остается положительным.

Medium index, slightly down. The inflow of funds into longs has decreased, but remains positive.

Cigna выглядит недооценённой по мультипликаторам, но слабая ликвидность и повышенный долг сдерживают потенциал роста оценки.

The S&P 500 Index ($SPX) (SPY) on Thursday closed up +0.41%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +1.73%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.53%. June E-mini S&P futures (ESM26) rose +0.36%, and June E-mini Nasdaq futures (NQM26) fell -0.47%.
Stock indexes settled mixed on Thursday, with the Dow Jones industrials posting a new all-time high. The overall market shook off early weakness on Thursday and pushed higher as a -3% plunge in crude oil prices knocked T-note yields lower, with the 10-year T-note yield falling -2 bp to 4.47%. Also, the rally in bank stocks and managed healthcare companies lifted the broader market, pushing the Dow Jones Industrial Average to a new record high.
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The weakness in technology stocks on Thursday weighed on the broader market, keeping the Nasdaq 100 in negative territory. Broadcom fell more than -12% to lead chipmakers lower after its forecast for artificial-intelligence revenue in the current quarter fell short of expectations. Also, CrowdStrike Holdings closed down more than -3% to lead cybersecurity stocks lower, despite reporting better-than-expected Q1 earnings, as the report wasn’t strong enough to lift the stock, which has more than doubled from a March low.
Weaker crude oil prices are a positive factor for stocks and bonds, as WTI crude oil fell more than -3% on Thursday after the US late Wednesday said Israel and Lebanon agreed to a ceasefire if Hezbollah also stops fighting and withdraws militants from areas near the border with Israel. Iran insists a peace deal with the US requires a ceasefire in Lebanon. The agreement would require the Lebanese army to take over after the withdrawal of Israeli troops. However, Hezbollah militants said they refused to abide by the conditions of the ceasefire announced by the US State Department, and clashes continued in southern Lebanon. Iranian Foreign Minister Abbas Araghchi said that “Communications between Iran and the US have not been cut off, but no tangible progress has been achieved in the negotiating process.”
Thursday’s US economic news was mixed for stocks after weekly jobless claims rose more than expected to a 3.75-month high and Q1 nonfarm productivity was revised lower. Conversely, Q1 unit labor costs were unexpectedly revised lower, easing concerns over wage pressures.
US weekly initial unemployment claims rose +13,000 to a 3.75-month high of 225,000, showing a weaker labor market than expectations of 215,000.
US Q1 nonfarm productivity was revised downward to 0.3% from the previously reported 0.8%, weaker than expectations of 0.4%. Q1 unit labor costs were unexpectedly revised downward to 1.8% from 2.3%, weaker than expectations of an upward revision to 2.4%.
The markets are discounting a 2% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
The generally favorable Q1 earnings season is winding down. As of Thursday, 83% of the 494 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets settled mixed on Thursday. The Euro Stoxx 50 closed up +0.82%. China's Shanghai Composite closed down -0.64%. Japan's Nikkei Stock Average closed down -1.36%.
Interest Rates
September 10-year T-notes (ZNU6) on Thursday closed up +4.5 ticks, and the 10-year T-note yield fell -2.4 bp to 4.471%. T-note prices moved higher on Thursday, supported by a -3% decline in WTI crude oil prices, which has lowered inflation expectations. The 10-year breakeven inflation rate fell to a 6-week low of 2.365% on Thursday. Fed-friendly US economic news was also positive for T-notes, following weekly jobless claims that rose more than expected and Q1 unit labor costs that were unexpectedly revised lower. T-notes fell back from their best level as stocks rebounded, dampening safe-haven demand for government debt securities.
European government bond yields moved lower on Thursday. The 10-year German Bund yield fell from a 1.5-week high of 3.043% and finished down -1.3 bp to 3.023%. The 10-year UK gilt yield fell -3.3 bp to 4.898%.
Eurozone Apr retail sales fell -0.4% m/m, weaker than expectations of -0.3% m/m.
Swaps are discounting a 98% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Humana (HUM) closed up more than +6% to lead managed healthcare stocks higher and gainers in the S&P 500 after Morgan Stanley raised its price target on the stock to $240 from $217. Also, Centene (CNC) closed up more than +5%, and UnitedHealth Group (UNH) closed up more than +5% to lead gainers in the Dow Jones Industrials after Bank of America Global Research upgraded the stock to buy from neutral with a price target of $450. In addition, Elevance Health (ELV) and Molina Healthcare(MOH) closed up more than +4%, and Cigna Group (CI) and CVS Health (CVS) closed up more than +3%. Finally, Cardinal Health (CAH) closed up more than +2%.
Asset managers and bank stocks rallied on Thursday, lifting the broader market. Blackstone (BX) closed up more than +7% to lead gainers in the S&P 500, and Franklin Resources (BEN) closed up more than +5%. Also, Goldman Sachs (GS), Fifth Third Bank (FITB), and US Bancorp (USB) closed up more than +4%. In addition, JPMorgan Chase (JPM), Morgan Stanley (MS), Citigroup (C), Wells Fargo (WFC), Citizens Financial Group (CFG), M&T Bank (MTB), and BlackRock (BLK) closed up more than +3%.
Chipmakers and AI-infrastructure stocks retreated on Thursday, led by a -12% plunge in Broadcom (AVGO), the largest decliner in the Nasdaq 100, after giving an outlook that was seen as underwhelming, given the industry’s AI-related demand. Also, Micron Technology (MU) closed down more than -7%, and ARM Holdings Plc (ARM) closed down more than -4%. In addition, Advanced Micro Devices (AMD), Qualcomm (QCOM), Sandisk (SNDK), and Western Digital (WDC) closed down more than -3%, and Lam Research (LRCX) and Analog Devices (ADI) closed down more than -2%.
Medtronic Plc (MDT) closed up more than +5% after BTIG LLC upgraded the stock to buy from neutral with a price target of $90.
RTX Corp (RTX) closed up +4% after Jeffries upgraded the stock to buy from hold with a price target of $220.
Alnylam Pharmaceuticals (ALNY) closed up more than +3% to lead gainers in the Nasdaq 100 after entering into a strategic AI collaboration with Inceptive Nucleics valued at up to $2 billion to accelerate the discovery and design of RNAi therapeutics.
Brown-Forman (BF.B) closed up more than +2% after reporting Q4 gross margin of 62.6%, stronger than the consensus of 57.5%.
Zoetis (ZTS) closed up more than +2% after KeyBanc Capital Markets said the cattle screwworm parasite could be a potential catalyst for the company’s livestock portfolios, as it has approved medications to prevent and treat the parasite in livestock.
PVH Corp (PVH) closed down more than -20% after forecasting 2027 adjusted EPS of $11.80 to $12.10, weaker than the consensus of $12.24.
Ciena Corp (CIEN) closed down more than -13% to lead losers in the S&P 500 despite reporting better-than-expected Q2 earnings, as Bloomberg Intelligence said the company’s full-year sales outlook may be viewed as underwhelming amid heightened expectations.
Five Below (FIVE) closed down more than -13% despite reporting stronger-than-expected Q1 earnings results, as Jeffries said the company’s growth rate might be peaking.
CrowdStrike Holdings (CRWD) closed down more than -3% after its Q1 earnings beat wasn’t strong enough to lift the stock, which has more than doubled from a March low.
AT&T (T) closed down more than -3% and Verizon Communications (VZ) closed down more than -3% to lead losers in the Dow Jones Industrials after the US Supreme Court ruled that telecommunications companies can’t immediately demand a jury trial when hit with a Federal Communications Commission fine.
Earnings Reports(6/5/2026)
ABM Industries Inc (ABM), G-III Apparel Group Ltd (GIII), Lifezone Metals Ltd (LZM).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Rebound on Strength in Banks and Managed Healthcare

The S&P 500 Index ($SPX) (SPY) today is up +0.02%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +1.49%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.90%. June E-mini S&P futures (ESM26) are up +0.02%, and June E-mini Nasdaq futures (NQM26) are down -0.86%.
Stock indexes are mixed today, with the Dow Jones industrials posting a new all-time high. The broader market is under pressure today amid weakness in technology stocks. Broadcom is down more than -14% to lead chipmakers lower after its forecast for artificial-intelligence revenue in the current quarter fell short of expectations. Also, CrowdStrike Holdings is down more than -8% to lead cybersecurity stocks lower, despite reporting better-than-expected Q1 earnings, as the report wasn’t strong enough to lift the stock, which has more than doubled from a March low. However, the strength in managed healthcare stocks today is limiting overall market losses and helping push the Dow Jones Industrial Average to a new record high.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Weaker crude oil prices are a positive factor for stocks and bonds, with WTI crude oil down more than -3% today after the US late Wednesday said Israel and Lebanon agreed to a ceasefire if Hezbollah also stops fighting and withdraws militants from areas near the border with Israel. The agreement would require the Lebanese army to take over after the withdrawal of Israeli troops. Iran insists a deal with the US requires a ceasefire in Lebanon. Iranian Foreign Minister Abbas Araghchi said that “Communications between Iran and the US have not been cut off, but no tangible progress has been achieved in the negotiating process.”
Today’s US economic news was mixed for stocks after weekly jobless claims rose more than expected to a 3.75-month high and Q1 nonfarm productivity was revised lower. Conversely, Q1 unit labor costs were unexpectedly revised lower, easing concerns over wage pressures.
US weekly initial unemployment claims rose +13,000 to a 3.75-month high of 225,000, showing a weaker labor market than expectations of 215,000.
US Q1 nonfarm productivity was revised downward to 0.3% from the previously reported 0.8%, weaker than expectations of 0.4%. Q1 unit labor costs were unexpectedly revised downward to 1.8% from 2.3%, weaker than expectations of an upward revision to 2.4%.
The markets are discounting a 2% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
The generally favorable Q1 earnings season is winding down. As of today, 84% of the 485 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +0.51%. China's Shanghai Composite closed down -0.64%. Japan's Nikkei Stock Average closed down -1.36%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +8 ticks, and the 10-year T-note yield is down -3.6 bp to 4.459%. T-note prices are moving higher today, supported by a -2% decline in WTI crude oil prices, which has lowered inflation expectations. The 10-year breakeven inflation rate fell to a 6-week low of 2.366% today. Fed-friendly US economic news was also positive for T-notes, following weekly jobless claims that rose more than expected and Q1 unit labor costs that were unexpectedly revised lower.
European government bond yields are moving lower today. The 10-year German Bund yield fell from a 1.5-week high of 3.043% and is down -1.5 bp to 3.021%. The 10-year UK gilt yield is down -2.7 bp to 4.904%.
Eurozone Apr retail sales fell -0.4% m/m, weaker than expectations of -0.3% m/m.
Swaps are discounting a 98% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers and AI-infrastructure stocks are slumping today, led by a -14% plunge in Broadcom (AVGO), the largest decliner in the Nasdaq 100, after giving an outlook that was seen as underwhelming, given the industry’s AI-related demand. Also, Micron Technology (MU) is down more than -8%, and ARM Holdings Plc (ARM) is down more than -5%. In addition, Advanced Micro Devices (AMD), Qualcomm (QCOM), Sandisk (SNDK), and Lam Research (LRCX) are down more than -3%. Finally, Western Digital (WDC), Seagate Technology Holdings Plc (STX), Analog Devices (ADI), KLA Corp (KLAC), and Intel (INTC) are down more than -2%.
Cryptocurrency-exposed stocks are falling today, with Bitcoin (^BTCUSD) down more than -1% at a 3.75-month low. Galaxy Digital Holdings (GLXY) is down more than -5%, MARA Holdings (MARA) is down more than -4%, and Riot Platforms (RIOT) is down more than -3%. Also, Coinbase Global (COIN) is down -0.28%.
Humana (HUM) is up more than +7% to lead managed healthcare stocks higher and gainers in the S&P 500 after Morgan Stanley raised its price target on the stock to $240 from $217. Also, Centene (CNC) is up more than +6%, and UnitedHealth Group (UNH) is up more than +5% to lead gainers in the Dow Jones Industrials after Bank of America Global Research upgraded the stock to buy from neutral with a price target of $450. In addition, Elevance Health (ELV), Cigna Group (CI), and Molina Healthcare(MOH) are up more than +4%, and CVS Health (CVS) and Cardinal Health (CAH) are up more than +2%.
PVH Corp (PVH) is down more than -24% after forecasting 2027 adjusted EPS of $11.80 to $12.10, weaker than the consensus of $12.24.
Ciena Corp (CIEN) is down more than -18% to lead losers in the S&P 500 despite reporting better-than-expected Q2 earnings, as Bloomberg Intelligence said the company’s full-year sales outlook may be viewed as underwhelming amid heightened expectations.
Five Below (FIVE) is down more than -13% despite reporting stronger-than-expected Q1 earnings results, as Jeffries said the company’s growth rate might be peaking.
CrowdStrike Holdings (CRWD) is down more than -7% after its Q1 earnings beat wasn’t strong enough to lift the stock, which has more than doubled from a March low.
Alnylam Pharmaceuticals (ALNY) is up more than +5% to lead gainers in the Nasdaq 100 after entering into a strategic AI collaboration with Inceptive Nucleics valued at up to $2 billion to accelerate the discovery and design of RNAi therapeutics.
Medtronic Plc (MDT) is up more than +4% after BTIG LLC upgraded the stock to buy from neutral with a price target of $90.
Zoetis (ZTS) is up more than +4% after KeyBanc Capital Markets said the cattle screwworm parasite could be a potential catalyst for the company’s livestock portfolios, as it has approved medications to prevent and treat the parasite in livestock.
RTX Corp (RTX) is up more than +3% after Jeffries upgraded the stock to buy from hold with a price target of $220.
Brown-Forman (BF.B) is up more than +1% after reporting Q4 gross margin of 62.6%, stronger than the consensus of 57.5%.
Earnings Reports(6/4/2026)
Brown-Forman Corp (BF/B), Ciena Corp (CIEN), Cooper Cos Inc/The (COO), Docusign Inc (DOCU), Guidewire Software Inc (GWRE), Lululemon Athletica Inc (LULU), Rubrik Inc (RBRK), Samsara Inc (IOT), Toro Co/The (TTC).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Mixed as Tech Weakness Weighs

The S&P 500 Index ($SPX) (SPY) today is down -0.16%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +1.41%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.23%. June E-mini S&P futures (ESM26) are down -0.14%, and June E-mini Nasdaq futures (NQM26) are down -1.16%.
Stock indexes are mixed today, with the Dow Jones industrials posting a new all-time high. The broader market is under pressure today amid weakness in technology stocks. Broadcom is down more than -15% to lead chipmakers lower after its forecast for artificial-intelligence revenue in the current quarter fell short of expectations. Also, CrowdStrike Holdings is down more than 6% to lead cybersecurity stocks lower, despite reporting better-than-expected Q1 earnings, as the report wasn’t strong enough to lift the stock, which has more than doubled from a March low. Strength in managed healthcare stocks today is helping push the Dow Jones Industrial Average to a record high.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Weaker crude oil prices are a positive factor for stocks and bonds, with WTI crude oil down more than -3% today after the US late Wednesday said Israel and Lebanon agreed to a ceasefire if Hezbollah also stops fighting and withdraws militants from areas near the border with Israel. The agreement would require the Lebanese army to take over after the withdrawal of Israeli troops. Iran insists a deal with the US requires a ceasefire in Lebanon. Iranian Foreign Minister Abbas Araghchi said that “Communications between Iran and the US have not been cut off, but no tangible progress has been achieved in the negotiating process.”
Today’s US economic news was mixed for stocks after weekly jobless claims rose more than expected to a 3.75-month high and Q1 nonfarm productivity was revised lower. Conversely, Q1 unit labor costs were unexpectedly revised lower, easing concerns over wage pressures.
US weekly initial unemployment claims rose +13,000 to a 3.75-month high of 225,000, showing a weaker labor market than expectations of 215,000.
US Q1 nonfarm productivity was revised downward to 0.3% from the previously reported 0.8%, weaker than expectations of 0.4%. Q1 unit labor costs were unexpectedly revised downward to 1.8% from 2.3%, weaker than expectations of an upward revision to 2.4%.
The markets are discounting a 2% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
The generally favorable Q1 earnings season is winding down. As of today, 84% of the 485 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +0.51%. China's Shanghai Composite closed down -0.64%. Japan's Nikkei Stock Average closed down -1.36%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +8 ticks, and the 10-year T-note yield is down -3.6 bp to 4.459%. T-note prices are moving higher today, supported by a -2% decline in WTI crude oil prices, which has lowered inflation expectations. The 10-year breakeven inflation rate fell to a 6-week low of 2.366% today. Fed-friendly US economic news was also positive for T-notes, following weekly jobless claims that rose more than expected and Q1 unit labor costs that were unexpectedly revised lower.
European government bond yields are moving lower today. The 10-year German Bund yield fell from a 1.5-week high of 3.043% and is down -1.5 bp to 3.021%. The 10-year UK gilt yield is down -2.7 bp to 4.904%.
Eurozone Apr retail sales fell -0.4% m/m, weaker than expectations of -0.3% m/m.
Swaps are discounting a 98% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers and AI-infrastructure stocks are slumping today, led by a -15% plunge in Broadcom (AVGO), the largest decliner in the Nasdaq 100, after giving an outlook that was seen as underwhelming, given the industry’s AI-related demand. Also, Micron Technology (MU), ARM Holdings Plc (ARM), and Marvell Technology (MRVL) are down more than -5%, and Applied Materials (AMAT) and Lam Research (LRCX) are down more than -3%. In addition, KLA Corp (KLAC), Intel (INTC), Qualcomm (QCOM), Analog Devices (ADI), and ASML Holding NV (ASML) are down more than -2%.
Cybersecurity stocks are retreating for a second day today, led by an -8% decline in CrowdStrike Holdings (CRWD) after its Q1 earnings beat wasn’t strong enough to lift the stock that has more than doubled from a March low. Also, Palo Alto Networks (PANW) and Cloudflare (NET) are down more than -2%, and Okta (OKTA) is down -0.83%.
Cryptocurrency-exposed stocks are falling today, with Bitcoin (^BTCUSD) down more than -1% at a 3.75-month low. Galaxy Digital Holdings (GLXY) is down more than -4%, and MARA Holdings (MARA) and Riot Platforms (RIOT) are down more than -3%. Also, Coinbase Global (COIN) is down -0.44%.
UnitedHealth Group (UNH) is up more than +6% to health insurance stocks higher and lead gainers in the S&P 500 and Dow Jones Industrials after Bank of America Global Research upgraded the stock to buy from neutral with a price target of $450. Also, Humana (HUM) is up more than +5%, and Centene (CNC) and Elevance Health (ELV) are up more than +4%. In addition, Cigna Group (CI) and CVS Health (CVS) are up more than +3%, and Cardinal Health (CAH) is up more than +2%.
PVH Corp (PVH) is down more than -27% after forecasting 2027 adjusted EPS of $11.80 to $12.10, weaker than the consensus of $12.24.
Ciena Corp (CIEN) is down more than -19% to lead losers in the S&P 500 despite reporting better-than-expected Q2 earnings, as Bloomberg Intelligence said the company’s full-year sales outlook may be viewed as underwhelming amid heightened expectations.
Five Below (FIVE) is down more than -10% despite reporting stronger-than-expected Q1 earnings results, as Jeffries said the company’s growth rate might be peaking.
Brown-Forman (BF.B) is up more than +4% after reporting Q4 gross margin of 62.6%, stronger than the consensus of 57.5%.
Medtronic Plc (MDT) is up more than +4% after BTIG LLC upgraded the stock to buy from neutral with a price target of $90.
RTX Corp (RTX) is up more than +3% after Jeffries upgraded the stock to buy from hold with a price target of $220.
Alnylam Pharmaceuticals (ALNY) is up more than +2% after entering into a strategic AI collaboration with Inceptive Nucleics valued at up to $2 billion to accelerate the discovery and design of RNAi therapeutics.
Earnings Reports(6/4/2026)
Brown-Forman Corp (BF/B), Ciena Corp (CIEN), Cooper Cos Inc/The (COO), Docusign Inc (DOCU), Guidewire Software Inc (GWRE), Lululemon Athletica Inc (LULU), Rubrik Inc (RBRK), Samsara Inc (IOT), Toro Co/The (TTC).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Weakness in Technology Stocks Pressures Stock Indexes

For Immediate Release
Chicago, IL – June 4, 2026 – Today, Zacks Equity Research discusses UnitedHealth Group Inc. UNH, The Cigna Group CI, Humana Inc. HUM, Centene Corp. CNC and Molina Healthcare, Inc. MOH.
Industry: Health Maintenance Organization (HMO)
Link: https://www.zacks.com/commentary/2931379/5-hmo-stocks-in-focus-amid-an-aging-us-population-tech-innovation
The U.S. health insurance industry, commonly referred to as the Health Maintenance Organization (HMO), benefits from a set of diversified, cost-effective plans that generate steady premium income and secure contract renewals. However, regulatory changes could tighten Medicaid eligibility and reduce ACA enrollment, affecting membership and reimbursements.
Demand for Medicare products should remain strong as the U.S. population ages, supporting enrollment and premium growth. Investments in telehealth, AI, cloud computing and data analytics are improving efficiency, patient engagement and long-term revenue prospects despite increasing near-term costs. HMOs are also pursuing strategic mergers and acquisitions (M&A) to expand market presence and diversify operations. Industry leaders such as UnitedHealth Group Inc., The Cigna Group, Humana Inc., Centene Corp. and Molina Healthcare, Inc. are well-positioned to capitalize on these favorable growth dynamics.
About the Industry
The Zacks HMO industry consists of entities (either private or public) that take care of subscribers’ basic and supplemental health services. Players in this space primarily assume risks and assign health and medical insurance policy premiums. Industry participants also provide administrative and managed-care services for self-funded insurance.
Services are generally offered via a network of approved care providers (called in-network), which include primary care physicians, clinical facilities, hospitals and specialists. However, out-of-network exceptions are made during emergencies or when medically necessary. Health insurance plans can be availed through private purchases, social insurance or social welfare programs.
4 Trends Shaping the Future of the HMO Industry
Diversified Offerings Support Enrolment Stability: Health insurers continue to strengthen their membership base by offering diversified, cost-effective plans with enhanced benefits. These offerings support steady enrollment growth, generate consistent premium income and often lead to contract wins and renewals from federal and state agencies. However, gains from diversified products are expected to only partly offset the expected Medicaid membership declines resulting from growing regulatory challenges following the enactment of the One Big Beautiful Bill Act.
The legislation introduced stricter Medicaid eligibility checks, work requirements and reduced federal funding. These measures, coupled with the absence of ACA subsidy extensions, are likely to reduce enrollment and pressure margins, prompting insurers to focus more on higher-margin commercial plans, while anticipated Medicare Advantage reimbursement rate increases in 2026 may provide some support.
An Aging U.S. Population: Medicare plans are specifically designed to meet the healthcare needs of individuals aged 65 and older, and an aging U.S. population is expected to drive sustained demand for these products. As the baby boomer generation enters retirement and life expectancy continues to increase, health insurers are well-positioned to benefit and generate higher premium revenues.
To effectively serve this demographic, insurers maintain broad networks of healthcare providers, including physicians, hospitals, pharmacies and ancillary care organizations, while some also operate dedicated senior-focused care centers that deliver personalized, high-quality services tailored to the unique medical and wellness needs of older adults.
Digital Transformation and Technological Innovation: The HMO industry continues to strengthen its investment in virtual healthcare solutions, or telehealth services, as digital transformation reshapes the healthcare landscape. Technologies such as Artificial Intelligence (AI)-powered chatbots, voice assistants, mobile health applications, robotics, cloud computing and advanced data analytics are revolutionizing the way healthcare services are delivered, allowing patients to receive timely care from the comfort of their homes.
This shift not only eases the strain on the U.S. healthcare system by reducing hospital visits and admissions but also enhances patient experience and care accessibility. While the adoption of advanced technologies may initially increase costs for health insurers, the resulting gains are expected to support stronger and more sustainable revenue growth over the long term.
Strategic Expansion Via Mergers and Acquisitions: In addition to embracing technological advancements, HMOs frequently engage in M&A to expand their capabilities, penetrate new markets, strengthen their foothold in existing regions, grow their membership base and enhance their nationwide reach. These strategic transactions also promote business diversification, enabling companies to maintain a competitive edge within the industry. Following the Federal Reserve's three interest rate cuts in 2025, borrowing conditions have become more favorable. Lower financing costs are expected to encourage greater M&A activity.
Zacks Industry Rank Instills Optimism
The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates bright near-term prospects. The Zacks Medical-HMOs industry, which is housed within the broader Zacks Medical sector, currently carries a Zacks Industry Rank #27, which places it in the top 11% of 246 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.
The industry’s positioning in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate.
Before we present a few stocks that you may want to buy or retain in your portfolio, let’s look at the industry’s recent stock-market performance and valuation picture.
Industry Underperforms S&P 500, Outperforms Sector
The Zacks Medical-HMO industry has gained 17.3% in the past year compared with the Zacks S&P 500 composite’s 31.3% growth. The Zacks Medical sector rallied 2.8% in the same time frame.
Industry's Current Valuation
Based on the forward 12-month price-to-earnings (P/E) ratio, which is commonly used for valuing medical stocks, the industry trades at 16.66X compared with the S&P 500’s 22.17X and the sector’s 19.33X.
Over the past five years, the industry has traded as high as 19.57X and as low as 11.58X, with the median being at 16.14X.
5 Stocks to Keep a Close Eye On
We present five stocks from the space, either carrying a Zacks Rank #2 (Buy) or #3 (Hold). Considering the current industry scenario, it might be prudent for investors to buy or retain these stocks in their portfolio, as these are well-placed to generate growth in the long haul.
Centene: Based in Missouri, Centene continues to benefit from strong momentum in its Medicare and Medicaid businesses, supported by numerous contract awards and steady membership expansion. The growing aging population in the United States remains a key driver of demand for Medicare Advantage plans, reinforcing the strength of Centene’s Medicare segment. This Zacks Rank #1 company also pursues strategic growth through acquisitions and provider partnerships. Management projects premium and service revenues within $171-$175 billion for 2026.
The Zacks Consensus Estimate for Centene’s 2026 earnings is pegged at $3.47 per share, which indicates a 66.8% rise from the year-ago figure. CNC’s earnings outpaced estimates in three of the last four quarters and missed the mark once, the average being 74.90%.
Molina Healthcare: This California-based health insurer develops affordable Medicare and Medicaid plans, enriched with extensive benefits, which have consistently led to contract wins. These contracts have contributed to a steadily growing customer base for the Zacks Rank #2 company. Management expects the 2026 premium revenue outlook to be approximately $42 billion. The company continues to strengthen its market position through acquisitions, including ConnectiCare in 2025.
The Zacks Consensus Estimate for Molina Healthcare’s 2026 earnings is pegged at $5.23 per share. The consensus mark for MOH’s 2026 earnings has moved 0.4% north over the past 30 days. MOH’s earnings beat estimates in one of the last four quarters and missed the mark thrice.
UnitedHealth Group: Minnesota-based UnitedHealth Group continues to deliver solid revenue growth, driven by the strong performance of its UnitedHealthcare and Optum segments. UnitedHealthcare benefits from enhanced Medicare and Medicaid offerings that combine affordability with attractive benefits. Optum remains a key growth engine, leveraging strategic acquisitions, advanced technology and data-driven healthcare solutions to enhance care delivery and operational efficiency. Additionally, continued focus on mergers and acquisitions, coupled with expanding telehealth capabilities, strengthens the nationwide footprint of this Zacks Rank #3 company.
The Zacks Consensus Estimate for UnitedHealth Group’s 2026 earnings is pegged at $18.29 per share, which implies 11.9% growth from the year-ago figure. UNH’s earnings beat estimates in three of the last four quarters and missed the mark once, the average surprise being 0.84%.
Cigna: Based in Connecticut, the company continues to demonstrate strong growth, supported by the robust performance of its two key business segments—Evernorth and Cigna Healthcare. Evernorth benefits from its comprehensive portfolio of specialty pharmacy services, while Cigna Healthcare leverages its broad customer base across both the U.S. Government and U.S. Commercial markets. This Zacks Rank #3 company further enhances its market position and growth prospects through strategic acquisitions and partnerships with leading healthcare organizations, while continuously expanding its product offerings.
The Zacks Consensus Estimate for Cigna’s 2026 earnings is pegged at $30.38 per share, indicating 1.8% growth from the prior-year figure. CI’s earnings beat estimates in each of the last four quarters, the average surprise being 1.86%.
Humana: Headquartered in Kentucky, Humana has delivered steady growth, driven by increasing premium income and a strong membership base across its Medicare and Medicaid segments. The strong execution of these programs has enabled this Zacks Rank #3 company to win new contracts and successfully renew existing agreements with federal and state government agencies.
Through its CenterWell platform, Humana continues to focus on meeting the evolving healthcare needs of the nation’s growing senior population. Additionally, strategic acquisitions such as Family Physicians Group, iCare and Inclusa have strengthened the company’s business diversification efforts and expanded its geographic reach.
The Zacks Consensus Estimate for Humana’s 2026 earnings is pegged at $9.01 per share. The consensus mark for 2025 revenues implies 25.3% growth from the year-ago actual. HUM’s earnings surpassed estimates in three of the last four quarters and missed the mark once, the average surprise being 3.80%.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Zacks Industry Outlook Highlights UnitedHealth, The Cigna, Humana, Centene and Molina

The U.S. health insurance industry, commonly referred to as the Health Maintenance Organization (HMO), benefits from a set of diversified, cost-effective plans that generate steady premium income and secure contract renewals. However, regulatory changes could tighten Medicaid eligibility and reduce ACA enrollment, affecting membership and reimbursements. Demand for Medicare products should remain strong as the U.S. population ages, supporting enrollment and premium growth. Investments in telehealth, AI, cloud computing and data analytics are improving efficiency, patient engagement and long-term revenue prospects despite increasing near-term costs. HMOs are also pursuing strategic mergers and acquisitions (M&A) to expand market presence and diversify operations. Industry leaders such as UnitedHealth Group Incorporated UNH, The Cigna Group CI, Humana Inc. HUM, Centene Corporation CNC and Molina Healthcare, Inc. MOH are well-positioned to capitalize on these favorable growth dynamics.
About the Industry
The Zacks HMO industry consists of entities (either private or public) that take care of subscribers’ basic and supplemental health services. Players in this space primarily assume risks and assign health and medical insurance policy premiums. Industry participants also provide administrative and managed-care services for self-funded insurance. Services are generally offered via a network of approved care providers (called in-network), which include primary care physicians, clinical facilities, hospitals and specialists. However, out-of-network exceptions are made during emergencies or when medically necessary. Health insurance plans can be availed through private purchases, social insurance or social welfare programs.
4 Trends Shaping the Future of the HMO Industry
Diversified Offerings Support Enrolment Stability: Health insurers continue to strengthen their membership base by offering diversified, cost-effective plans with enhanced benefits. These offerings support steady enrollment growth, generate consistent premium income and often lead to contract wins and renewals from federal and state agencies. However, gains from diversified products are expected to only partly offset the expected Medicaid membership declines resulting from growing regulatory challenges following the enactment of the One Big Beautiful Bill Act. The legislation introduced stricter Medicaid eligibility checks, work requirements and reduced federal funding. These measures, coupled with the absence of ACA subsidy extensions, are likely to reduce enrollment and pressure margins, prompting insurers to focus more on higher-margin commercial plans, while anticipated Medicare Advantage reimbursement rate increases in 2026 may provide some support.
An Aging U.S. Population: Medicare plans are specifically designed to meet the healthcare needs of individuals aged 65 and older, and an aging U.S. population is expected to drive sustained demand for these products. As the baby boomer generation enters retirement and life expectancy continues to increase, health insurers are well-positioned to benefit and generate higher premium revenues. To effectively serve this demographic, insurers maintain broad networks of healthcare providers, including physicians, hospitals, pharmacies and ancillary care organizations, while some also operate dedicated senior-focused care centers that deliver personalized, high-quality services tailored to the unique medical and wellness needs of older adults.
Digital Transformation and Technological Innovation: The HMO industry continues to strengthen its investment in virtual healthcare solutions, or telehealth services, as digital transformation reshapes the healthcare landscape. Technologies such as Artificial Intelligence (AI)-powered chatbots, voice assistants, mobile health applications, robotics, cloud computing and advanced data analytics are revolutionizing the way healthcare services are delivered, allowing patients to receive timely care from the comfort of their homes. This shift not only eases the strain on the U.S. healthcare system by reducing hospital visits and admissions but also enhances patient experience and care accessibility. While the adoption of advanced technologies may initially increase costs for health insurers, the resulting gains are expected to support stronger and more sustainable revenue growth over the long term.
Strategic Expansion Via Mergers and Acquisitions: In addition to embracing technological advancements, HMOs frequently engage in M&A to expand their capabilities, penetrate new markets, strengthen their foothold in existing regions, grow their membership base and enhance their nationwide reach. These strategic transactions also promote business diversification, enabling companies to maintain a competitive edge within the industry. Following the Federal Reserve's three interest rate cuts in 2025, borrowing conditions have become more favorable. Lower financing costs are expected to encourage greater M&A activity.
Zacks Industry Rank Instills Optimism
The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates bright near-term prospects. The Zacks Medical-HMOs industry, which is housed within the broader Zacks Medical sector, currently carries a Zacks Industry Rank #27, which places it in the top 11% of 246 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.
The industry’s positioning in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate.
Before we present a few stocks that you may want to buy or retain in your portfolio, let’s look at the industry’s recent stock-market performance and valuation picture.
Industry Underperforms S&P 500, Outperforms Sector
The Zacks Medical-HMO industry has gained 17.3% in the past year compared with the Zacks S&P 500 composite’s 31.3% growth. The Zacks Medical sector rallied 2.8% in the same time frame.
One-Year Price Performance
Image Source: Zacks Investment Research
Industry's Current Valuation
Based on the forward 12-month price-to-earnings (P/E) ratio, which is commonly used for valuing medical stocks, the industry trades at 16.66X compared with the S&P 500’s 22.17X and the sector’s 19.33X.
Over the past five years, the industry has traded as high as 19.57X and as low as 11.58X, with the median being at 16.14X, as the chart below shows.
Forward 12-Month Price/Earnings (P/E) Ratio
Image Source: Zacks Investment Research
Image Source: Zacks Investment Research
5 Stocks to Keep a Close Eye On
We present five stocks from the space, either carrying a Zacks Rank #2 (Buy) or #3 (Hold). Considering the current industry scenario, it might be prudent for investors to buy or retain these stocks in their portfolio, as these are well-placed to generate growth in the long haul.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Centene: Based in Missouri, Centene continues to benefit from strong momentum in its Medicare and Medicaid businesses, supported by numerous contract awards and steady membership expansion. The growing aging population in the United States remains a key driver of demand for Medicare Advantage plans, reinforcing the strength of Centene’s Medicare segment. This Zacks Rank #1 company also pursues strategic growth through acquisitions and provider partnerships. Management projects premium and service revenues within $171-$175 billion for 2026.
The Zacks Consensus Estimate for Centene’s 2026 earnings is pegged at $3.47 per share, which indicates a 66.8% rise from the year-ago figure. CNC’s earnings outpaced estimates in three of the last four quarters and missed the mark once, the average being 74.90%.
Price & Consensus: CNC
Image Source: Zacks Investment Research
Molina Healthcare: This California-based health insurer develops affordable Medicare and Medicaid plans, enriched with extensive benefits, which have consistently led to contract wins. These contracts have contributed to a steadily growing customer base for the Zacks Rank #2 company. Management expects the 2026 premium revenue outlook to be approximately $42 billion. The company continues to strengthen its market position through acquisitions, including ConnectiCare in 2025.
The Zacks Consensus Estimate for Molina Healthcare’s 2026 earnings is pegged at $5.23 per share. The consensus mark for MOH’s 2026 earnings has moved 0.4% north over the past 30 days. MOH’s earnings beat estimates in one of the last four quarters and missed the mark thrice.
Price & Consensus: MOH
Image Source: Zacks Investment Research
UnitedHealth Group: Minnesota-based UnitedHealth Group continues to deliver solid revenue growth, driven by the strong performance of its UnitedHealthcare and Optum segments. UnitedHealthcare benefits from enhanced Medicare and Medicaid offerings that combine affordability with attractive benefits. Optum remains a key growth engine, leveraging strategic acquisitions, advanced technology and data-driven healthcare solutions to enhance care delivery and operational efficiency. Additionally, continued focus on mergers and acquisitions, coupled with expanding telehealth capabilities, strengthens the nationwide footprint of this Zacks Rank #3 company.
The Zacks Consensus Estimate for UnitedHealth Group’s 2026 earnings is pegged at $18.29 per share, which implies 11.9% growth from the year-ago figure. UNH’s earnings beat estimates in three of the last four quarters and missed the mark once, the average surprise being 0.84%.
Price & Consensus: UNH
Image Source: Zacks Investment Research
Cigna: Based in Connecticut, the company continues to demonstrate strong growth, supported by the robust performance of its two key business segments—Evernorth and Cigna Healthcare. Evernorth benefits from its comprehensive portfolio of specialty pharmacy services, while Cigna Healthcare leverages its broad customer base across both the U.S. Government and U.S. Commercial markets. This Zacks Rank #3 company further enhances its market position and growth prospects through strategic acquisitions and partnerships with leading healthcare organizations, while continuously expanding its product offerings.
The Zacks Consensus Estimate for Cigna’s 2026 earnings is pegged at $30.38 per share, indicating 1.8% growth from the prior-year figure. CI’s earnings beat estimates in each of the last four quarters, the average surprise being 1.86%.
Image Source: Zacks Investment Research
Humana: Headquartered in Kentucky, Humana has delivered steady growth, driven by increasing premium income and a strong membership base across its Medicare and Medicaid segments. The strong execution of these programs has enabled this Zacks Rank #3 company to win new contracts and successfully renew existing agreements with federal and state government agencies. Through its CenterWell platform, Humana continues to focus on meeting the evolving healthcare needs of the nation’s growing senior population. Additionally, strategic acquisitions such as Family Physicians Group, iCare and Inclusa have strengthened the company’s business diversification efforts and expanded its geographic reach.
The Zacks Consensus Estimate for Humana’s 2026 earnings is pegged at $9.01 per share. The consensus mark for 2025 revenues implies 25.3% growth from the year-ago actual. HUM’s earnings surpassed estimates in three of the last four quarters and missed the mark once, the average surprise being 3.80%.
Price & Consensus: HUM
Image Source: Zacks Investment Research
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5 HMO Stocks in Focus Amid an Aging U.S. Population, Tech Innovation

Looking at the universe of stocks we cover at Dividend Channel, on 6/4/26, The Cigna Group (Symbol: CI) will trade ex-dividend, for its quarterly dividend of $1.56, payable on 6/18/26. As a percentage of CI's recent stock price of $274.44, this dividend works out to approximately 0.57%, so look for shares of The Cigna Group to trade 0.57% lower — all else being equal — when CI shares open for trading on 6/4/26.
In general, dividends are not always predictable; but looking at the history above can help in judging whether the most recent dividend from CI is likely to continue, and whether the current estimated yield of 2.27% on annualized basis is a reasonable expectation of annual yield going forward. The chart below shows the one year performance of CI shares, versus its 200 day moving average:
Looking at the chart above, CI's low point in its 52 week range is $239.51 per share, with $338.8899 as the 52 week high point — that compares with a last trade of $273.88.
According to the ETF Finder at ETF Channel, CI makes up 4.14% of the iShares U.S. Healthcare Providers ETF (Symbol: IHF) which is trading lower by about 0.4% on the day Tuesday. (see other ETFs holding CI).
In Tuesday trading, The Cigna Group shares are currently up about 0.1% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
Further CI Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Ex-Div Reminder for The Cigna Group (CI)

The S&P 500 Index ($SPX) (SPY) on Tuesday closed up +0.61%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.23%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.76%. June E-mini S&P futures (ESM26) rose +0.61%, and June E-mini Nasdaq futures (NQM26) rose +1.72%.
Stock indexes settled mostly higher on Tuesday, with the S&P 500 and Nasdaq 100 posting new all-time highs. Stocks found support as a drop in crude oil prices and bond yields fueled a rally in technology stocks after officials signaled the US was nearing a deal with Iran to reopen the Strait of Hormuz and restore oil flows. According to the Washington Post, the US and Iran have developed a memorandum that would extend the ceasefire by 60 days as the two sides seek a permanent deal, and if agreed, the Strait of Hormuz would be de-mined and reopened in the meantime. Secretary of State Rubio said negotiations will still "take a few days" as both sides discuss language in an initial document. WTI crude oil fell to a 2.5-week low on Tuesday, and the 10-year T-note yield fell to a 1.5-week low of 4.47%.
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However, stock index futures were undercut after the US Central Command said US forces struck Iranian missile-launch sites and boats trying to place mines in the Strait of Hormuz. Also, weakness in health insurance stocks and energy producers on Tuesday knocked the Dow Jones Industrial Average into negative territory.
Tuesday’s US economic news was mixed for stocks. The Apr Chicago Fed National Activity Index rose +0.29 to a 13-month high of 0.14, stronger than expectations of -0.03. Also, the Mar S&P Composite-20 home price index rose +0.83% y/y, a smaller increase than the +0.90% y/y expected and the smallest year-on-year gain in more than 2.5 years. In addition, the Conference Board US May consumer confidence index fell -0.7 to 93.1, a smaller decline than expectations of 92.0.
WTI crude oil prices (CLM26) remain extremely volatile and are susceptible to headlines from the Iran war. Crude oil prices fell more than -2% on Tuesday to a 2.5-week low after the US and Iran said peace talks were progressing. However, crude prices rebounded from their worst levels after US and Israeli jets struck missile sites in Iran and boats laying mines in the Strait of Hormuz.
The International Energy Agency (IEA) said in a recently released monthly report that global oil inventories declined at a rate of about 4 million bpd in March and April, and the market will remain “severely undersupplied” until October even if the conflict ends next month. Goldman Sachs estimates that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with the drawdown potentially reaching 1 billion bbl by June.
The markets are discounting a 3% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
Earnings season is winding down, and reports thus far have been supportive of stocks. As of Tuesday, 83% of the 475 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets settled lower on Tuesday. The Euro Stoxx 50 closed down -1.18%. China's Shanghai Composite closed down -0.17%. Japan's Nikkei Stock Average closed down -0.25%.
Interest Rates
June 10-year T-notes (ZNM6) on Tuesday closed up by +18.5 ticks. The 10-year T-note yield fell -6.9 bp to 4.489%. June T-note prices rallied to a 1.5-week high on Tuesday, and the 10-year T-note yield fell to a 1.5-week low of 4.473%. Tuesday’s -2% fall in WTI crude oil prices reduced inflation expectations and is bullish for T-note prices. The 10-year breakeven inflation rate fell to a 1-month low of 2.375% on Tuesday. T-notes maintained their gains on decent demand for the Treasury’s $69 billion auction of 2-year T-notes that has a bid-to-cover ratio of 2.64, better than the 10-auction average of 2.61.
European government bond yields on Tuesday were mixed. The 10-year German Bund yield rose +3.3 bp to 2.979%. The 10-year UK gilt yield fell to a 5-week low of 4.820% and finished down -2.2 bp to 4.875%.
ECB Executive Board member Isabel Schnabel said even if there's a quick resolution to the conflict in the Middle East, "I think a rate hike by the ECB in June will be needed." She added that "given the high persistence of the energy shock, I believe that the negative impact on economic growth will also be stronger" than initially expected.
ECB Chief Economist Philip Lane said the ECB will probably raise its quarterly inflation outlook at next month's policy meeting as the Iran war keeps energy prices elevated.
Swaps are discounting a 91% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers and AI infrastructure stocks rallied on Tuesday, helping lift the broader market. Micron Technology (MCHP) closed up more than +20% to lead gainers in the S&P 500 and Nasdaq 100 after UBS raised its price target on the stock to $1,625 from $535, and ON Semiconductor (ON) closed up more than +10%. Also, Western Digital (WDC) closed up more than +8%, and Sandisk (SNDK) and Advanced Micro Devices (AMD) closed up more than +7%. In addition, Marvell Technology (MRVL) and KLA Corp (KLAC) closed up more than +6%, and Applied Materials (AMAT), Analog Devices (ADI), Microchip Technology (MCHP), NXP Semiconductors NV (NXPI), Lam Research (LRCX), and Texas Instruments (TXN) closed up more than +5%.
Airlines and cruise line operators moved higher on Tuesday after WTI crude oil prices fell to a 2.5-week low, reducing fuel costs and bolstering profitability prospects. American Airlines Group (AAL) closed up more than +7%, and Alaska Air Group (ALK) closed up more than +6%. Also, United Airlines Holdings (UAL) closed up more than +5%, and Delta Air Lines (DAL), Norwegian Cruise Line Holdings (NCLH), and Royal Caribbean Cruises Ltd (RCL) closed up more than +4%. In addition, Southwest Airlines (LUV) closed up more than +3%, and Carnival (CCL) closed up more than 2%.
Rocket and satellite companies moved sharply higher on Tuesday after SpaceX filed to become the largest-ever initial public offering. Redwire (RDW) closed up more than +26%, Firefly Aerospace (FLY) closed up more than +18%, and AST Spacemobile (ASTS) closed up more than +12%.
Energy producers and energy service providers retreated on Tuesday after WTI crude oil prices slid to a 2.5-week low. Devon Energy (DVN) closed down more than -4%, and Chevron (CVX) closed down more than -3% to lead losers in the Dow Jones industrials. Also, Exxon Mobil (XOM), ConocoPhillips (COP), and APA Corp (APA) closed down more than -3%, and Diamondback Energy (FANG), Marathon Petroleum (MPC), Occidental Petroleum (OXY), Phillips 66 (PSX), and Valero Energy (VLO) closed down more than -2%.
Defensive health insurance stocks were under pressure with Tuesday’s rally in the broader market. Centene (CNC) closed down more than -3%, and UnitedHealth Group (UNH), Humana (HUM), and CVS Health (CVS) closed down more than -2%. Also, Elevance Health (ELV) and Cigna Group (CI) closed down more than -1%.
Allient (ALNT) closed up more than +12% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $80.
Autoliv (ALV) closed up more than +3% after Handelsbanken upgraded the stock to buy from hold with a price target of $145.
AutoZone (AZO) closed down more than -8% to lead losers in the S&P 500 after reporting Q3 net sales of $4.84 billion, below the consensus of $4.87 billion. Also, O’Reilly Automotive (ORLY) is down more than -4% to lead losers in the Nasdaq 100.
Intuit (INTU) closed down more than -4% to lead losers in the Nasdaq 100 after Mizuho Securities cut its price target on the stock to $500 from $600.
Earnings Reports(5/27/2026)
Agilent Technologies Inc (A), Bath & Body Works Inc (BBWI), Dick's Sporting Goods Inc (DKS), Everpure Inc (P), HEICO Corp (HEI), HP Inc (HPQ), Marvell Technology Inc (MRVL), nCino Inc (NCNO), Nutanix Inc (NTNX), Salesforce Inc (CRM), Snowflake Inc (SNOW), Synopsys Inc (SNPS), U-Haul Holding Co (UHAL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Finish Mostly Higher on Iran Peace Progress

The S&P 500 Index ($SPX) (SPY) today is up +0.81%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.10%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.74%. June E-mini S&P futures (ESM26) are up +0.77%, and June E-mini Nasdaq futures (NQM26) are up +1.71%.
Stock indexes are mostly rallying today, with the S&P 500 and Nasdaq 100 posting new all-time highs. Stocks are finding support as a drop in crude oil prices and bond yields fuels a rally in technology stocks after officials signaled the US was nearing a deal with Iran to reopen the Strait of Hormuz and restore oil flows. According to the Washington Post, the US and Iran have developed a memorandum that would extend the ceasefire by 60 days as the two sides seek a permanent deal, and if agreed, the Strait of Hormuz would be de-mined and reopened in the meantime. Secretary of State Rubio said negotiations will still "take a few days" as both sides discuss language in an initial document. WTI crude oil fell to a 2.5-week low today, and the 10-year T-note yield fell to a 1.5-week low of 4.47%.
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However, stock index futures were undercut after the US Central Command said US forces struck Iranian missile-launch sites and boats trying to place mines in the Strait of Hormuz. Also, weakness in health insurance stocks and energy producers has knocked the Dow Jones Industrial Average into negative territory.
US economic news today is mixed for stocks. The Apr Chicago Fed National Activity Index rose +0.29 to a 13-month high of 0.14, stronger than expectations of -0.03. Also, the Mar S&P Composite-20 home price index rose +0.83% y/y, a smaller increase than the +0.90% y/y expected and the smallest year-on-year gain in more than 2.5 years. In addition, the Conference Board US May consumer confidence index fell -0.7 to 93.1, a smaller decline than expectations of 92.0.
WTI crude oil prices (CLM26) remain extremely volatile and are susceptible to headlines from the Iran war. Crude oil prices fell more than -2% today to a 2.5-week low after the US and Iran said peace talks were progressing. However, crude prices rebounded from their worst levels after US and Israeli jets struck missile sites in Iran and boats laying mines in the Strait of Hormuz.
The International Energy Agency (IEA) said in a recently released monthly report that global oil inventories declined at a rate of about 4 million bpd in March and April, and the market will remain “severely undersupplied” until October even if the conflict ends next month. Goldman Sachs estimates that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with the drawdown potentially reaching 1 billion bbl by June.
The markets are discounting a 3% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
Earnings season is winding down, and reports thus far have been supportive of stocks. As of today, 83% of the 475 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.81%. China's Shanghai Composite closed down -0.17%. Japan's Nikkei Stock Average closed down -0.25%.
Interest Rates
June 10-year T-notes (ZNM6) today are up by +17 ticks. The 10-year T-note yield is down -6.5 bp to 4.493%. June T-note prices rallied to a 1.5-week high, and the 10-year T-note yield fell to a 1.5-week low of 4.473%. Today’s -2% fall in WTI crude oil prices has reduced inflation expectations and is bullish for T-note prices. The 10-year breakeven inflation rate fell to a 1-month low of 2.375% today. Limiting gains in T-notes is supply pressure, as the Treasury will auction $217 billion of T-notes and floating-rate notes this week, beginning with today’s $69 billion auction of 2-year T-notes.
European government bond yields are mixed. The 10-year German Bund yield is up +3.6 bp to 2.982%. The 10-year UK gilt yield fell to a 5-week low of 4.820% and is down -2.8 bp to 4.869%.
ECB Executive Board member Isabel Schnabel said even if there's a quick resolution to the conflict in the Middle East, "I think a rate hike by the ECB in June will be needed." She added that "given the high persistence of the energy shock, I believe that the negative impact on economic growth will also be stronger" than initially expected.
ECB Chief Economist Philip Lane said the ECB will probably raise its quarterly inflation outlook at next month's policy meeting as the Iran war keeps energy prices elevated.
Swaps are discounting a 92% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers and AI infrastructure stocks are gaining today, helping lift the broader market. Micron Technology (MCHP) is up more than +12% to lead gainers in the S&P 500 and Nasdaq 100, and ON Semiconductor (ON) and Marvell Technology (MRVL) are up more than +8%. Also, Sandisk (SNDK) is up more than +6%, and Western Digital (WDC) and Analog Devices (ADI) are up more than +5%. In addition, Microchip Technology (MCHP) and Texas Instruments (TXN) are up more than +4%, and Advanced Micro Devices (AMD), NXP Semiconductors NV (NXPI), and KLA Corp (KLAC) are up more than +3%.
Airlines and cruise line operators are climbing today, with WTI crude oil prices down more than -3%, which reduces fuel costs and bolsters profitability. American Airlines Group (AAL) is up more than +6%, and United Airlines Holdings (UAL) is up more than +5%. Also, Alaska Air Group (ALK), Norwegian Cruise Line Holdings (NCLH), and Royal Caribbean Cruises Ltd (RCL) are up more than +4%. In addition, Delta Air Lines (DAL) and Carnival (CCL) are up more than +3%, and Southwest Airlines (LUV) is up more than 2%.
Rocket and satellite companies are moving higher today after SpaceX filed to become the largest-ever initial public offering. Redwire (RDW) is up more than +27%, and AST Spacemobile (ASTS) is up more than +19%. Also, Firefly Aerospace (FLY) and Intuitive Machines (LUNR) are up more than +14%.
Energy producers and energy service providers are falling today after WTI crude oil prices slid to a 2.5-week low. Chevron (CVX) is down more than -2% to lead losers in the Dow Jones industrials. Also, Exxon Mobil (XOM) is down more than -2%, and Devon Energy (DVN), ConocoPhillips (COP), APA Corp (APA), and Valero Energy (VLO) are down more than -1%.
Defensive health insurance stocks are under pressure with today’s rally in the broader market. Centene (CNC) and Elevance Health (ELV) are down more than -2%. Also, Humana (HUM), CVS Health (CVS), and Cigna Group (CI) are down more than -1%.
Allient (ALNT) is up more than +9% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $80.
Autoliv (ALV) is up more than +2% after Handelsbanken upgraded the stock to buy from hold with a price target of $145.
AutoZone (AZO) is down more than -11% to lead losers in the S&P 500 after reporting Q3 net sales of $4.84 billion, below the consensus of $4.87 billion. Also, O’Reilly Automotive (ORLY) is down more than -4% to lead losers in the Nasdaq 100.
Earnings Reports(5/26/2026)
AutoZone Inc (AZO), Box Inc (BOX), Champion Homes Inc (SKY), CSW Industrials Inc (CSW), Digital Turbine Inc (APPS), Modine Manufacturing Co (MOD), Ooma Inc (OOMA), Semtech Corp (SMTC), Transcat Inc (TRNS), Zscaler Inc (ZS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

S&P 500 and Nasdaq 100 Climb to Record Highs on Tech Stock Strength

The S&P 500 Index ($SPX) (SPY) today is up +0.72%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.31%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.42%. June E-mini S&P futures (ESM26) are up +0.62%, and June E-mini Nasdaq futures (NQM26) are up +1.33%.
Stock indexes are rallying today, with the S&P 500 and Nasdaq 100 posting new all-time highs. Stocks are finding support today from a drop in crude oil prices and bond yields after officials signaled the US was nearing a deal with Iran to reopen the Strait of Hormuz and restore oil flows. According to the Washington Post, the US and Iran have developed a memorandum that would extend the ceasefire by 60 days as the two sides seek a permanent deal, and if agreed, the Strait of Hormuz would be de-mined and reopened in the meantime. Secretary of State Rubio said negotiations will still "take a few days" as both sides discuss language in an initial document. WTI crude oil fell to a 2.5-week low today, and the 10-year T-note yield fell to a 1.5-week low of 4.47%.
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However, stock index futures were undercut after the US Central Command said US forces struck Iranian missile-launch sites and boats trying to place mines in the Strait of Hormuz.
US economic news today was mixed for stocks. The Apr Chicago Fed National Activity Index rose +0.29 to a 13-month high of 0.14, stronger than expectations of -0.03. Also, the Mar S&P Composite-20 home price index rose +0.83% y/y, a smaller increase than the +0.90% y/y expected and the smallest year-on-year gain in more than 2.5 years.
WTI crude oil prices (CLM26) remain extremely volatile and are susceptible to headlines from the Iran war. Crude oil prices fell more than -3% today at a 2.5-week low after the US and Iran said peace talks were progressing. However, crude prices rebounded from their worst levels after US and Israeli jets struck missile sites in Iran and boats laying mines in the Strait of Hormuz.
The International Energy Agency (IEA) said in a recently released monthly report that global oil inventories declined at a rate of about 4 million bpd in March and April, and the market will remain “severely undersupplied” until October even if the conflict ends next month. Goldman Sachs estimates that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with the drawdown potentially reaching 1 billion bbl by June.
The markets are discounting a 2% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
Earnings season is winding down, and reports thus far have been supportive of stocks. As of today, 83% of the 475 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.62%. China's Shanghai Composite closed down -0.17%. Japan's Nikkei Stock Average closed down -0.25%.
Interest Rates
June 10-year T-notes (ZNM6) today are up by +19 ticks. The 10-year T-note yield is down -7.5 bp to 4.483%. June T-note prices rallied to a 1.5-week high, and the 10-year T-note yield fell to a 1.5-week low of 4.473%. Today’s -3% plunge in WTI crude oil prices has reduced inflation expectations and is bullish for T-note prices. The 10-year breakeven inflation rate fell to a 1-month low of 2.375% today. Limiting gains in T-notes is supply pressure, as the Treasury will auction $217 billion of T-notes and floating-rate notes this week, beginning with today’s $69 billion auction of 2-year T-notes.
European government bond yields are mixed. The 10-year German Bund yield is up +2.7 bp to 2.973%. The 10-year UK gilt yield fell to a 5-week low of 4.820% and is down -4.7 bp to 4.850%.
ECB Executive Board member Isabel Schnabel said even if there's a quick resolution to the conflict in the Middle East, "I think a rate hike by the ECB in June will be needed."
Swaps are discounting a 91% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers and AI infrastructure stocks are gaining today, helping lift the broader market. Micron Technology (MCHP) is up more than +12% to lead gainers in the S&P 500 and Nasdaq 100, and ON Semiconductor (ON) and Marvell Technology (MRVL) are up more than +8%. Also, Sandisk (SNDK) is up more than +6%, and Western Digital (WDC) and Analog Devices (ADI) are up more than +5%. In addition, Microchip Technology (MCHP) and Texas Instruments (TXN) are up more than +4%, and Advanced Micro Devices (AMD), NXP Semiconductors NV (NXPI), and KLA Corp (KLAC) are up more than +3%.
Airlines and cruise line operators are climbing today, with WTI crude oil prices down more than -3%, which reduces fuel costs and bolsters profitability. United Airlines Holdings (UAL) is up more than +5%, and American Airlines Group (AAL), Alaska Air Group (ALK), and Norwegian Cruise Line Holdings (NCLH) are up more than +4%. Also, Delta Air Lines (DAL) and Southwest Airlines (LUV) are up more than +3%, Carnival (CCL) is up more than +2%, and Royal Caribbean Cruises Ltd (RCL) is up more than +2%.
Rocket and satellite companies are moving higher today after SpaceX filed to become the largest-ever initial public offering. Redwire (RDW) is up more than +23%, and Firefly Aerospace (FLY) and Intuitive Machines (LUNR) are up more than +18%. Also, AST Spacemobile (ASTS) is up more than +15%.
Allient (ALNT) is up more than +9% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $80.
Autoliv (ALV) is up more than +2% after Handelsbanken upgraded the stock to buy from hold with a price target of $145.
AutoZone (AZO) is down more than -8% to lead losers in the S&P 500 after reporting Q3 net sales of $4.84 billion, below the consensus of $4.87 billion. Also, O’Reilly Automotive (ORLY) is down more than -4% to lead losers in the Nasdaq 100.
Cigna Group (CI) is down more than -1% after Barclays downgraded the stock to equal weight from overweight.
Earnings Reports(5/26/2026)
AutoZone Inc (AZO), Box Inc (BOX), Champion Homes Inc (SKY), CSW Industrials Inc (CSW), Digital Turbine Inc (APPS), Modine Manufacturing Co (MOD), Ooma Inc (OOMA), Semtech Corp (SMTC), Transcat Inc (TRNS), Zscaler Inc (ZS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Jump on US-Iran Peace Optimism

The S&P 500 Index ($SPX) (SPY) on Wednesday closed up +1.08%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +1.31%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.66%. June E-mini S&P futures (ESM26) rose +0.96%, and June E-mini Nasdaq futures (NQM26) rose +1.57%.
Stock indexes finished sharply higher on Wednesday, recovering most of this week’s losses, amid a plunge in crude oil prices and lower bond yields. Crude oil prices sank by more than 5% on hopes for a deal to end the Iran war, knocking inflation expectations and bond yields lower. The 10-year T-note yield fell -10 bp to 4.57%, falling back sharply from Tuesday’s 16-month high.
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Semiconductor stocks also rallied on Wednesday, providing support to the broader market. Nvidia rose more than +1% ahead of its earnings results after Wednesday’s close. Nvidia’s earnings will provide an update on the state of the AI economy, with Q1 sales expected to be up 80%, but the markets will be focused on what the company has to say about ramping up production and fending off competitors.
The minutes of the April 28-29 FOMC meeting were hawkish as "many" policymakers called for the Fed to drop its easing bias and signal its next move could be an interest rate increase. Also, most of the meeting's participants said that "some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%."
US MBA mortgage applications fell -2.3% in the week ended May 1, with the purchase mortgage sub-index down -4.1%, and the refinancing mortgage sub-index down -0.1%. The average 30-year fixed rate mortgage rose +10 bp to 6.56% from 6.46% in the prior week.
WTI crude oil prices (CLM26) remain extremely volatile and are susceptible to headlines from the Iran war. Prices plummeted by more than -5% on Wednesday after President Trump said the US is in the "final stages" with Iran, bolstering speculation that crude supplies will soon start flowing out of the Strait of Hormuz. Late Monday, President Trump said he called off a strike on Iran scheduled for Tuesday after Gulf allies asked for more time to give diplomacy a chance.
Last Wednesday, the International Energy Agency (IEA) said in a monthly report that global oil inventories declined at a rate of about 4 million bpd in March and April, and the market will remain “severely undersupplied” until October even if the conflict ends next month. Goldman Sachs estimates that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with the drawdown potentially reaching 1 billion bbl by June.
The markets are discounting a 7% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
Earnings season is winding down, and reports thus far have been supportive of stocks. As of Wednesday, 83% of the 463 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets settled mixed on Wednesday. The Euro Stoxx 50 rallied to a 1.5-week high and closed up sharply by +2.13%. China's Shanghai Composite closed down -0.18%. Japan's Nikkei Stock Average fell to a 2.5-week low and closed down -1.23%.
Interest Rates
June 10-year T-notes (ZNM6) on Wednesday closed up +22.5 ticks. The 10-year T-note yield fell -9.8 bp to 4.568%. T-note prices rallied sharply on Wednesday, recovering most of this week’s sell-off, as a -5% plunge in WTI crude oil prices weakened inflation expectations, a supportive factor for T-notes. The 10-year breakeven inflation rate fell to a 1.5-week low of 2.443% on Wednesday. T-notes also had some carryover support from a rally in 10-year UK gilts after UK April consumer prices rose less than expected.
The strength in stocks on Wednesday limited gains in T-notes, as did the hawkish minutes of the April 18-29 FOMC meeting. Also, slack demand for the Treasury’s $16 billion auction of 20-year T-bonds was negative for T-note prices, as the auction had a bid-to-cover ratio of 2.55, below the 10-auction average of 2.65.
European government bond yields moved lower on Wednesday. The 10-year German Bund yield fell -9.7 bp to 3.096%. The 10-year UK gilt yield fell -14.1 bp to 4.988%.
UK Apr CPI eased to 2.8% y/y from 3.3% y/y in Mar, weaker than expectations of 3.0% y/y. Apr core CPI eased to 2.5% y/y from 3.1% y/y in Mar, weaker than expectations of 2.6% y/y.
ECB Governing Council member Pierre Wunsch said, "If the Iran conflict isn't resolved by June, then I think the likelihood of an ECB rate hike is quite high."
Swaps are discounting an 82% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers and AI infrastructure stocks rallied on Wednesday, providing support to the overall market. ARM Holdings Plc (ARM) closed up more than +15% to lead gainers in the Nasdaq 100, and Advanced Micro Devices (AMD) and Intel (INTC) closed up more than +7%. Also, Lam Research (LRCX) and ASML Holding NV (ASML) closed up more than +6%, and KLA Corp (KLAC), Marvell Technology (MRVL), and NXP Semiconductors NV (NXPI) closed up more than +5%. In addition, Applied Materials (AMAT) closed up more than +4%, and Qualcomm (QCOM) closed up more than +3%.
Airline stocks and cruise line operators moved sharply higher on Wednesday as WTI crude oil prices sank by more than 5%, lowering fuel costs and boosting profitability prospects. Alaska Air Group (ALK) closed up more than +10%, and United Airlines Holdings (UAL) closed up more than +9% to lead gainers in the S&P 500. Also, Delta Air Lines (DAL) closed up more than +9%, and Carnival (CCL) and Norwegian Cruise Line Holdings (NCLH) closed up more than +8%. In addition, American Airlines Group (AAL) closed up more than +7%, and Southwest Airlines (LUV) closed up more than +6%.
Toll Brothers (TOL) closed up more than +9% on Wednesday to lead homebuilders and building suppliers higher after reporting Q2 revenue of $2.53 billion, above the consensus of $2.43 billion. Also, Builders Firstsource (BLDR) closed up more than +7%, and DR Horton (DHI) and Lennar (LEN) closed up more th a+5%. Also, Pulte Group (PHM) and KB Home (KBH) closed up more than +4%.
Energy producers and service providers fell on Wednesday as WTI crude prices tumbled by more than -5%. APA Corp (APA), Exxon Mobil (XOM), Occidental Petroleum (OXY), and Valero Energy (VLO) closed down more than -3%. Also, Chevron (CVX) closed down -3% to lead losers in the Dow Jones Industrials, and ConocoPhillips (COP) and Devon Energy (DVN) closed down more than -2%.
TJX Cos (TJX) closed up more than +5% after reporting Q1 net sales of $14.32 billion, better than the consensus of $14.01 billion.
Etsy (ETSY) closed up more than +5% after Arete upgraded the stock to buy from neutral with a price target of $76.
Packaging Corp of America (PKG) closed up more than +4% after UBS upgraded the stock to buy from neutral with a price target of $248.
Cava Group (CAVA) closed up more than +3% after reporting that Q1 comparable restaurant sales rose +9.70%, stronger than the consensus of +5.97%.
Hasbro (HAS) closed down more than -8% to lead losers in the S&P 500 after forecasting full-year adjusted Ebitda of $1.40 billion to $1.45 billion, the midpoint below the consensus of $1.44 billion.
Intuit (INTU) closed down more than -3% to lead losers in the Nasdaq 100 after announcing it is cutting 17% or its workforce, or about 3,000 employees worldwide.
Target (TGT) closed down more than -3%, despite reporting better-than-expected Q1 sales after executives warned in a conference call that Q2 comparisons are the “hardest” of the year.
Analog Devices (ADI) closed down more than -3% after reporting Q2 industrial revenue of $1.80 billion, below the consensus of $1.81 billion.
Cigna Group (CI) closed down more than -2% after Deutsche Bank downgraded the stock to hold from buy.
Earnings Reports(5/21/2026)
Advanced Drainage Systems Inc (WMS), Copart Inc (CPRT), Deckers Outdoor Corp (DECK), Deere & Co (DE), Flowers Foods Inc (FLO), Hamilton Lane Inc (HLNE), Ralph Lauren Corp (RL), Ross Stores Inc (ROST), Take-Two Interactive Software (TTWO), Walmart Inc (WMT), Williams-Sonoma Inc (WSM), Workday Inc (WDAY), Zoom Communications Inc (ZM).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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