Video: Stocks Steady as Apple Slides, China Talks Progress, and Trump Clashes with California
U.S. stocks closed mixed on Monday as investors weighed tepid Apple product announcements, a fragile truce in U.S.-China trade relations, and a legal showdown between California and President Donald T
U.S. stocks closed mixed on Monday as investors weighed tepid Apple product announcements, a fragile truce in U.S.-China trade relations, and a legal showdown between California and President Donald Trump over National Guard deployment. Meanwhile, markets looked ahead to Oracle’s earnings later this week, a potential bellwether for the enterprise tech sector.
At the closing bell, the Dow Jones Industrial Average slipped 1.11 points to 42,761.81, essentially unchanged. The S&P 500 rose 5.52 points, or 0.09%, to finish at 6,005.88. The Nasdaq Composite advanced 61.28 points, or 0.31%, ending at 19,591.2. Small-caps outperformed, with the Russell 2000 climbing 1.45%, its best showing among the major indices.
Market breadth was positive, with advancing stocks outnumbering decliners nearly 2-to-1 on the NYSE. Roughly 67% of issues closed higher, and 87.5% of stocks marked new 52-week highs. More than three-quarters of listed companies traded above their 50-day moving averages, a sign of underlying strength.
Trade Talks Offer Cautious Optimism
Investors took some comfort in developments out of London, where top U.S. and Chinese trade officials met to defuse tensions. U.S. Commerce Secretary Howard Lutnick described the talks as "fruitful,"emphasizing progress on critical issues like rare earth mineral access and the Geneva tariff agreement. China’s Commerce Ministry, for its part, signaled goodwill by approving some rare earth export applications. National Economic Council Director Kevin Hassett added to the positive tone, expressing confidence that a longer-term trade agreement could be reached.
Apple WWDC Fails to Impress Wall Street
Apple shares dropped 1.4%, closing at $201.04, following a lackluster Worldwide Developers Conference. The company unveiled its new “Liquid Glass” design and an AI rebrand called “Apple Intelligence,” but failed to deliver game-changing innovations. Analysts were particularly underwhelmed by the absence of major hardware updates and saw the AI features as playing catch-up to competitors.
While Apple added features like Visual Intelligence and generative coding in Xcode, the overall takeaway was that the company is still early in its AI journey. With shares now near the bottom of a months-long trading range, further downside is possible absent a stronger catalyst.
Trump’s National Guard Move Sparks California Lawsuit
President Trump’s unilateral deployment of 2,000 National Guard troops to Los Angeles over the weekend drew swift legal action from California. Governor Gavin Newsom filed suit Monday, claiming the move violated constitutional norms by bypassing state consent. The conflict stems from protests over federal immigration raids, which have escalated in the city.
Trump’s fiery response on Truth Social—“If they spit, we will hit…”—only added to tensions and underscored the deepening political divide between Washington and Sacramento.
WATCH: Could Oracle's AI push and Project Stargate send its earnings through the roof?
Looking ahead, Oracle will report fiscal Q4 earnings on Wednesday. Analysts expect adjusted EPS of $1.64 and revenue of $15.6 billion, up 9% year-over-year. The company’s $130 billion backlog and growing Infrastructure-as-a-Service segment have bolstered confidence, though recent top-line misses and heavy CapEx have raised questions.
Analyst Angelo Zino of CFRA remains bullish, citing easing supply constraints and strong bookings momentum. “We’re looking for about 9% top-line growth this quarter,” Zino said, adding that Oracle’s AI investments could accelerate gains in FY26 and beyond.
As markets digest mixed signals from tech and geopolitics, investors will likely continue favoring companies with visible growth paths and resilient balance sheets—especially as political uncertainties remain front and center.
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