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New Car Prices Hold Steady Despite Tariffs, Inventory Shields Buyers

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New Car Prices Hold Steady Despite Tariffs, Inventory Shields Buyers

The April Consumer Price Index (CPI) report revealed that new car prices were flat, surprising many who expected President Trump’s auto sector tariffs to drive prices higher. However, inventory levels at dealerships may have shielded car buyers from tariff-induced price hikes—at least for now.

April CPI Results and Price Trends

In April, new vehicle prices remained unchanged from the previous month and increased by 0.3% year-over-year. Meanwhile, used vehicle prices fell by 0.5% but rose 1.5% from the same month last year. The report comes on the heels of Trump’s 25% foreign-made auto tariffs, which began on April 3 and affected not only European and Asian manufacturers but also U.S. automakers like GM (GM), Ford (F), and Stellantis (STLA), who import vehicles from Canada, Mexico, and China.

Tariffs and Inventory Impact

Expectations were high that new vehicle prices would rise as tariff costs were passed on to consumers, with used car prices also expected to increase as buyers shifted to pre-owned vehicles. However, a significant factor in holding prices steady may have been dealers and automakers drawing from their preexisting new car inventory, which included imports not subject to tariffs. Dealers promoted these tariff-free vehicles as a sales tactic in the highly competitive new car market.

Shrinking Inventory Levels

The number of cars available at dealerships has been shrinking. Vehicle data site CarPro reports that overall industry stock in April dropped to 2.6 million vehicles, down from around 3 million, with days of supply falling to just over 60. This is below the average of around 70 days of supply. For instance, Toyota (TM) had only 10 to 15 days of supply, while GM had about 50 to 60 days. Stellantis, during a troubled period in 2024, had over 100 days of supply, though this has since been reduced significantly.

Sales Gains and Tariff Guarantees

Several automakers saw significant sales increases in April, including Hyundai (up 19%), Honda (up 17%), Ford (up 15%), and Toyota (up 8%). GM and Stellantis do not report monthly sales figures. Additionally, some automakers, like Hyundai, have guaranteed pricing through the end of May, which could help keep prices stable in the short term. However, tariff-exposed shipments are expected soon, which could lead to further supply and pricing pressures in the weeks ahead.

Pricing Challenges Ahead

The question remains: how long will automakers be able to hold the line on prices? “Across OEMs, we continue to monitor post-tariff reactions,” said Deutsche Bank’s Edison Yu in a note. GM has stated it will not raise prices across the board but expects consistent price increases of 0.5%-1.0% for the year. Ford has extended employee pricing on most vehicles until July 4 (previously June 2) but has raised prices on Mexico-built vehicles.

Differences in Price Data

Kelley Blue Book (KBB), which tracks average transaction prices (ATP) at the dealership level, saw prices climb by 2.5% month-over-month in April, more than double the average monthly increase for the month. A KBB spokesperson noted that the deviation between KBB’s data and the government’s CPI reading could be due to timing differences, with CPI data potentially lagging behind KBB’s more current data.

Future Price Expectations

With tariffs on foreign-made autos still looming, prices are expected to rise, and April’s lack of price increases could just be a temporary blip. As noted by Deutsche Bank, Ford is already raising prices on its Mexican-built Ford Maverick, Bronco Sport, and Mustang Mach-E EV.

UnitedHealth Group Faces Turmoil: A Timeline of Challenges

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UnitedHealth Group Faces Turmoil: A Timeline of Challenges

CEO Andrew Witty Steps Down Amid Challenges

UnitedHealth Group has seen a tumultuous year marked by several high-profile incidents, leading to the sudden departure of CEO Andrew Witty. The company faced numerous setbacks, including a significant cyber attack on its tech unit, Change Healthcare, and the tragic murder of its insurance unit CEO, Brian Thompson. These incidents, coupled with rising medical costs and a series of legal challenges, have severely impacted the company’s operations and public image.

Timeline of Key Events

January 12, 2024: UnitedHealth’s shares fell after medical services costs surpassed Wall Street expectations, despite beating fourth-quarter profit and revenue estimates.

February 21, 2024: UnitedHealth’s tech unit, Change Healthcare, was hit by a cyber attack, with hackers stealing millions of sensitive health records.

March 13, 2024: The U.S. government launched an investigation into whether the cyber attack violated health privacy laws.

April 16, 2024: The company estimated the cost of the cyber attack at $1.6 billion, but still maintained its earnings forecast for the year.

Tragedy Strikes with the Murder of CEO Brian Thompson

December 4, 2024: UnitedHealth’s insurance unit CEO, Brian Thompson, was tragically killed outside a hotel in Midtown Manhattan, just ahead of a major investor day event. The murder is believed to be a targeted attack, sending shockwaves through the company.

December 19, 2024: The suspect in Thompson’s killing was charged with federal murder and terrorism-related crimes. The case continues to unfold, with significant impacts on UnitedHealth’s operations.

Financial Struggles and Management Changes

April 17, 2025: UnitedHealth experienced an unexpected quarterly earnings miss, due to higher-than-expected medical costs. The company also lowered its full-year outlook, causing a more than 20% drop in shares.

May 13, 2025: After a turbulent year, CEO Andrew Witty stepped down, and UnitedHealth suspended its 2025 forecast due to surging medical costs, signaling continued uncertainty for the company moving forward.

Looking Ahead

UnitedHealth Group’s future remains uncertain as it navigates the fallout from a series of crises, including leadership changes, legal issues, and financial challenges. As the company grapples with rising medical costs and public scrutiny, its ability to recover remains in question. The latest events underscore the volatility facing major players in the U.S. healthcare sector.

Ukraine and Russia Debate Ceasefire Terms Ahead of Talks

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Ukraine and Russia Debate Ceasefire Terms Ahead of Talks

Ukraine and its European allies are pushing for a 30-day ceasefire before starting peace talks with Russia, but Russian President Vladimir Putin has responded with an escalation in attacks, including more than 100 drones aimed at Ukraine. This has intensified the standoff, with both sides drawing clear lines on the conditions for negotiations.

Trump’s Support for Putin

U.S. President Donald Trump has thrown his weight behind Putin’s position, urging Ukraine to agree to meet for talks in Turkey without a ceasefire. In a post on his Truth Social platform, Trump expressed support for Putin, stating, “President Putin of Russia doesn’t want to have a Cease Fire Agreement with Ukraine, but rather wants to meet on Thursday, in Turkey, to negotiate a possible end to the BLOODBATH. Ukraine should agree to this, IMMEDIATELY.”

Ukraine Challenges Putin with Direct Offer

Ukrainian President Volodymyr Zelenskyy has not backed down, however. He challenged Putin to meet in person in Istanbul, declaring, “I will be waiting for Putin in Türkiye on Thursday. Personally. I hope that this time the Russians will not look for excuses.” Zelenskyy’s bold move was a direct challenge to Putin, aiming to put pressure on the Russian president to follow through with the talks.

Russia’s Escalation: Drone Attacks and Continued Frontline Conflict

In response, Russia launched an overnight wave of drones, most of which were intercepted by Ukrainian forces. This was followed by continued attacks on Ukrainian positions along the frontlines. Meanwhile, Russia reported a Ukrainian attack in the Kursk region, further escalating the situation. The back-and-forth between Moscow and Kyiv appears to be a game of political brinkmanship, with each side attempting to outmaneuver the other.

Ukraine Seeks to Outplay Putin

Ukrainian officials believe Zelenskyy’s move to offer a face-to-face meeting with Putin in Turkey has shifted the dynamics. According to Oleksandr Merezhko, head of the Ukrainian parliament’s foreign relations committee, this challenge forces Putin into a corner: “The Ukrainian president turned the tables. Because now Putin cannot help but go personally, because then Trump and everyone will see that Putin does not want negotiations.”

Trump’s Perspective on Negotiations

Trump’s involvement adds a layer of complexity to the situation. He has expressed frustration over the lack of progress in negotiations and emphasized the need for a resolution. In his Truth Social post, he wrote, “At least they will be able to determine whether or not a deal is possible, and if it is not, European leaders, and the U.S., will know where everything stands, and can proceed accordingly.”

Ukraine’s Position on Negotiations with Putin

Despite Putin’s push for direct talks, there are still questions surrounding Ukraine’s willingness to engage with him. Dmitry Peskov, the Kremlin spokesperson, accused Ukraine of violating previous ceasefires and warned against a “simplistic approach” to talks. Moscow also insists that Ukraine must first lift its 2022 ban on negotiations with Russia. However, Ukrainian officials have clarified that the ban was meant to prevent unauthorized talks and does not rule out direct negotiations with Putin when the time is right.

The Uncertainty of Thursday’s Meeting

As the date for the potential meeting in Turkey approaches, it remains uncertain whether Zelenskyy will travel to Istanbul to await Putin. A senior Ukrainian official, speaking anonymously, stated, “We will not publicly disclose our plans, as we’re waiting for the Russians to react.” The next steps are still unclear, with the situation hanging in the balance.

Panasonic Cuts 10,000 Jobs, Focuses on EV Battery Profits

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Panasonic Cuts 10,000 Jobs, Focuses on EV Battery Profits

Panasonic Holdings (6752.T) said on Friday it will cut 10,000 staff and expects to book restructuring costs of 130 billion yen ($896.06 million) this business year as part of an overhaul of the company. The electronics manufacturer will make the staff cuts mainly in the current business year, with half of them planned for Japan and the other half for overseas, it said in a statement.

The cuts will come through consolidation of sales and indirect operations as well as sites, business terminations, and employees in Japan taking early retirement, it said. Panasonic has around 228,000 staff worldwide, according to its website. The company’s restructuring aims to improve group profitability and seeks to achieve a return on equity – a measure of profitability – of 10% by the fiscal year ending in March 2029.

Panasonic also said it will target a group adjusted operating profit of at least 600 billion yen in the fiscal year to March 31, 2027, partly due to a revamp of its consumer electronics business, termination of loss-making businesses, and streamlining of IT investments. The company said it will review the operational efficiency of its group companies, particularly in sales and back-office divisions, in an update of its overhaul announced in February.

Almost half of the restructuring costs will be booked in its Lifestyle business, which includes home electronics and heating and ventilation systems, and another 40% in “other” businesses, including its holding company. It did not expect to book any restructuring costs in its energy business.

Panasonic also forecast a 39% increase in operating profit at its electric vehicle battery-making energy business this fiscal year to March 31, 2026, upgrading it to 167 billion yen on expected higher battery and energy storage system sales. The energy business, which makes batteries for Tesla (TSLA.O) and other automakers, made 120.2 billion yen in the year that ended in March, missing its own 124 billion yen forecast.

For its business as a whole, Panasonic forecast a 13% decline in operating profit for this business year to 370 billion yen.

Cardinal Robert Prevost Becomes First American Pope

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Cardinal Robert Prevost Becomes First American Pope

New Pope: Robert Prevost, First American to Lead the Church

Cardinal Robert Prevost, a missionary born in Chicago, has made history by becoming the first American pope in the 2,000-year history of the Catholic Church. Prevost, aged 69, took the papal name Leo XIV after being elected to replace Pope Francis, who passed away last month. His election marks a historic moment for both the Church and the United States.

First Words as Pope

Upon his election, Pope Leo XIV addressed the gathered crowd with his first words: “Peace be with you.” He introduced himself as an Augustinian priest and emphasized his Christian identity above all, also describing himself as a bishop and inviting the global faithful to walk together. He spoke in both Italian and Spanish, reflecting on his years spent as a missionary and archbishop in Chiclayo, Peru.

Early Life and Background

Robert Prevost grew up in Dolton, Illinois, near Chicago. A childhood friend, Noelle Neis, recalled the close-knit community at St. Mary of the Assumption Church, where the Prevost family was deeply involved. “To think we knew him when he was a kid,” Neis said, sharing her pride in his rise to such an influential position within the Church.

Influence of Family and Education

Prevost’s rise began in Dolton, a suburb of Chicago, where his family contributed significantly to the local Catholic community. His father, Louis, served as a school superintendent, and his mother, Mildred, was a dedicated librarian who helped establish the library at St. Mary’s. These institutions, now gone, shaped Prevost’s upbringing and his dedication to the Catholic faith.

A Global Mission

Prevost’s mission work spans several countries, particularly in Peru, where he served as the archbishop of Chiclayo. As prior general of the Order of St. Augustine, he led a religious community committed to poverty, service, and evangelization. This Order, dating back to the 13th century, operates in about 50 countries worldwide.

Quick Election Process

Prevost’s election to the papacy was swift, taking just two days and four rounds of voting by the College of Cardinals. The process was remarkably quick, similar to the elections of Pope Francis and Pope Benedict XVI. Despite expectations that an American pope was a long shot, Prevost’s background and leadership within the Order of St. Augustine earned him widespread support.

Challenges Ahead for the New Pope

As the new pope, Prevost faces significant challenges, including navigating the complex and often divided College of Cardinals. His leadership will be closely watched, especially considering the evolving role of the Catholic Church in the modern world, with issues ranging from clerical sexual abuse to poverty, migration, and global conflicts.

Cardinal Prevost’s election represents a new chapter for the Vatican and the global Catholic community. His deep ties to both the U.S. and Latin America position him to address key global challenges, particularly within the Church’s missionary and humanitarian efforts.

Papal Conclave Begins with Black Smoke on First Day

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Papal Conclave Begins with Black Smoke on First Day

On the first day of the conclave, plumes of black smoke rose from the chimney of the Sistine Chapel, signaling that the 133 cardinals inside had failed to elect a new pope. The long-awaited moment followed the formal procession and the oath of secrecy that each cardinal swore before voting began at 5:45 pm local time. After hours of anticipation, the smoke appeared at 9:05 pm, to loud applause from a crowd of over 45,000 people gathered below.

Anticipation in St. Peter’s Square

Despite expectations that the first day would not see a decision, St. Peter’s Square was packed with eager onlookers. Among them was Cinzia Caporali from Tuscany, who recalled her experience during the election of Pope Benedict XVI in 2005. She remembered hearing shouts of “Fatto, fatto, fatto!” (It’s done) as the white smoke signaled the end of the conclave, which was one of the fastest papal elections in history. This time, Caporali hoped for a continuation of Pope Francis’s focus on marginalized people and his stand against the church’s wealth, a theme that was echoed in the pre-conclave mass.

Giovanni Battista Re’s Message to the Cardinals

During the pre-conclave mass on Wednesday morning, Giovanni Battista Re, the Italian cardinal who led Pope Francis’s funeral mass, called for a pope chosen with “maximum responsibility.” Re urged the cardinals to cast aside personal considerations and to be guided by love in their decision-making. He emphasized that love was “the only force capable of changing the world,” setting the tone for the upcoming deliberations.

Challenges in Choosing a Successor to Pope Francis

Finding a successor to Pope Francis is no easy task, with the college of cardinals being diverse and divided. Some cardinals favor the progressive changes Francis made during his papacy, while others are seeking to reverse his reforms. As the conclave progresses, there is a desire among the cardinals to avoid prolonged deliberations, as they do not wish to present the image of a divided church. The initial focus has been on issues such as evangelization, the church’s finances, clerical sexual abuse, and service to the poor and migrants.

The Role of Women in the Church

Notably absent from the pre-conclave discussions was the issue of the role of women in the church. This is a subject that Pope Francis championed during his papacy, though he remained firm in his stance that women could never be ordained as priests. In response, women’s groups have organized protests. On the eve of the conclave, bursts of pink smoke filled the air above Gianicolo hill, a peaceful demonstration by the Catholic Women’s Ordination group. Miriam Duignan, who led the protest, expressed the group’s frustration with the exclusion of women from key decisions in the church, highlighting their struggle for equality.

U.S. Trade Deficit Hits Record Amid Tariff Concerns

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U.S. Trade Deficit Hits Record Amid Tariff Concerns

The U.S. trade deficit soared to a record-breaking $140.5 billion in March, marking a dramatic 92.6% increase year-to-date. This surge comes as businesses and consumers rush to import goods ahead of the tariff increases set to take effect on July 6, due to President Trump’s sweeping global tariffs.

Trade Deficit Growth Driven by Increased Imports

Imports have jumped by 23.3% this year, contributing to a $17.8 billion increase in March alone, according to the Bureau of Economic Analysis. Meanwhile, U.S. exports saw a modest rise of just $500 million. The significant jump in imports, particularly in categories such as pharmaceuticals, apparel, furniture, jewelry, household appliances, and textiles, suggests companies are trying to stockpile goods before tariffs are heightened.

Trump’s tariffs, which already stand at a staggering 145% on goods from China, are expected to increase further. This has caused a rush in imports, which is expected to slow in the second quarter, potentially allowing for a rebound in U.S. GDP. However, analysts, including those at Goldman Sachs, remain concerned, forecasting a 45% chance of a recession within the next year.

Impact on U.S. GDP and Consumer Spending

The latest data from the U.S. Bureau of Economic Analysis reveals a contraction of 0.3% in gross domestic product (GDP) in the first quarter, largely due to the massive drag from net exports. This marks the largest negative impact from trade in over fifty years. Additionally, consumer spending grew at the slowest pace since mid-2023, increasing just 1.8% in the first quarter.

Economists expect the surge in imports to taper off, which could allow GDP growth to shift into positive territory in the second quarter. However, the persistent uncertainty over tariffs and their impact on various sectors, such as pharmaceuticals and semiconductors, continues to create significant risks for the economy.

Canada’s Trade with the U.S. Faces Decline

On the other side of the border, Canada’s exports to the U.S. fell by 6.6% in March, marking the second consecutive month of decline. Despite the drop in exports to the U.S., Canada saw a rise in exports to other countries, with the U.K., Germany, the Netherlands, and Hong Kong being primary recipients. Notably, crude oil was the top export to the latter two markets, further demonstrating how Canadian trade dynamics are shifting amidst the ongoing tariff war.

Uncertainty Ahead as Tariffs Continue to Dominate Trade

With further tariff increases on the horizon and trade uncertainties continuing to loom, the global economy faces a precarious outlook. The U.S. is bracing for the impact of potential new tariffs, which could include additional levies on pharmaceuticals, semiconductors, and even movies, all while navigating the challenges posed by the trade war and slowing consumer demand.

As the situation develops, economists and business leaders alike will be closely monitoring how these trade dynamics evolve, with the outcome set to shape both the U.S. and global economies in the months ahead.

How Tariffs Could Impact Grocery Prices in the U.S.

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How Tariffs Could Impact Grocery Prices in the U.S.

The ongoing tariff situation and its potential escalation have raised concerns about the impact on grocery prices in the United States. While the country produces many of its food products domestically, it still relies heavily on imports, which may see price hikes due to new tariffs.

Tariffs and Inflation in the Food Sector

David Ortega, a food economist at Michigan State University, explained that tariffs are inherently inflationary. “They are a tax on imports, so by definition, they are inflationary,” Ortega said. The potential for higher tariffs could lead to increased food costs for American households, affecting budgets significantly.

The Impact of Tariffs on Imported Goods

The U.S. imports around 15% of its food supply, including fresh produce, seafood, and other items, making it highly vulnerable to tariff changes. Thomas Gremillion from the Consumer Federation of America pointed out that even the baseline 10% tariff would be one of the largest federal tax increases in recent history, affecting many American consumers.

Price Increase: Seafood and Produce

Seafood, fresh vegetables, and fruits are particularly vulnerable to price increases due to tariffs. Seafood, for instance, may see higher costs due to international trade complexities, with labor costs in countries like China impacting the economics of the supply chain.

What Tariffs Could Mean for Specific Foods

Products like bananas and coffee, which are mostly imported, could see significant price hikes. “Bananas and coffee are products we rely on imports for, and those will be impacted by tariffs,” said Ortega. Other products like olive oil, mostly imported from Europe, could also experience price increases.

Retailers May Raise Prices Even Without Tariffs

Even if some products aren’t directly affected by tariffs, retailers might increase prices in response to rising costs elsewhere in the supply chain. For example, U.S.-based products might see price hikes due to the rising costs of imported packaging or ingredients.

Consumers Are Confused About Tariff Impacts

A NielsenIQ study showed that a significant portion of consumers are unsure about how tariffs will impact their grocery bills. The complexities of tariff changes, including the 25% tariff on goods from Mexico and Canada, make it difficult for consumers to keep track of which items are affected.

Tips for Consumers to Save on Grocery Costs

Gremillion offers several strategies for consumers to mitigate higher grocery costs amid tariffs, such as sticking to a shopping list, avoiding shrinkflation, and considering generic or store brands. He also recommends looking at frozen, dried, and canned goods as potential alternatives to fresh produce.

Key Takeaways

While the impact of tariffs on grocery prices may vary depending on the product, consumers can expect to see some price increases, especially for imported goods like bananas, coffee, and seafood. By being mindful of spending habits and exploring alternatives, families can help manage the financial impact of tariffs on their grocery budgets.

Block Shares Drop 22% on Lower 2025 Profit Forecast

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Block Shares Drop 22% on Lower 2025 Profit Forecast

Shares Plunge Amid Concerns Over Cash App and Competition

Block’s (XYZ.N) stock plunged 22% on Friday, marking the largest intraday decline in five years. The selloff, which wiped nearly $8 billion from the company’s market value, was triggered by a downward revision of its 2025 profit forecast. Analysts expressed concerns about the performance of Block’s peer-to-peer Cash App and the mounting competition the company faces. At least eight brokerages reduced their price targets on the stock, citing weakness in Cash App and broader macroeconomic uncertainty.

Profit Forecast Cut Stirs Doubts Amid Economic Concerns

Block’s profit forecast cut raised eyebrows, as it was attributed to macroeconomic uncertainty, a factor that has affected many businesses. However, industry peers in the financial sector have reported steady spending trends, making Block’s outlook stand out. Despite concerns over a potential consumer spending slowdown due to President Donald Trump’s tariff policies, major bank executives have remained optimistic, citing a strong labor market as a buffer for near-term economic resilience.

Cash App’s Weakness Raises Long-Term Questions

Analysts are questioning whether the weakness in Cash App is cyclical or structural. BTIG analysts noted that the trend in Cash App is an “outlier” compared to its peers, raising concerns about its long-term viability. The app’s sluggish performance has prompted some analysts, including those at Jefferies, to suggest that the company’s forecast of 9.5% gross profit growth for the second quarter appeared “incredibly conservative.” This has led to increased skepticism about Cash App’s ability to recover in the near term.

Square Business Provides Hope for Block’s Future

While Cash App has been a source of concern, Block’s Square segment, which offers payment solutions to small and medium-sized businesses, remains a bright spot. Analysts at William Blair noted that Square is making competitive progress, which could provide a strong foundation for the company moving forward. Despite the challenges faced by Cash App, Square’s continued strength is seen as a potential counterbalance to the broader issues facing Block.

Stock Decline Could Present Opportunity for Investors

Despite the sharp decline in Block’s stock, some analysts see the drop as an opportunity for investors. The lower stock price could make the company more attractive, especially if it rebounds. However, caution is advised, as a further deterioration in the broader economic conditions could dampen optimism. J.P. Morgan’s Tien-tsin Huang echoed this sentiment, saying, “We’re cautiously optimistic recognizing margin for error is low in a tough macro backdrop.”

Big Tech Stocks Surge on Strong Q1 Results

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Big Tech Stocks Surge on Strong Q1 Results

Magnificent Thursday for Big Tech Stocks

Big tech stocks are having a spectacular Thursday, with shares of the Magnificent Seven — Meta Platforms (META), Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Alphabet (GOOG), Tesla (TSLA), and Nvidia (NVDA) — rising across the board. The surge is largely driven by optimism surrounding the financial results from Meta and Microsoft, which fueled a broader rally in tech stocks, taking major market indexes higher. Microsoft’s stock surged close to 9%, while Meta’s gained over 5%, both ranking among the top gainers in the S&P 500.

The Magnificent Seven Index Shines

CNBC’s Magnificent Seven Index, which tracks the performance of these tech giants, saw an impressive 3.5% increase, surpassing the upward moves of major U.S. indexes. The tech-heavy Nasdaq Composite led the major indexes, climbing over 2.5%. Nvidia led the charge, rising nearly 5%, while most of the remaining Magnificent Seven stocks saw increases of over 1%. However, Apple’s shares were little changed, reflecting a more cautious investor sentiment ahead of its earnings report later today.

Tech Stocks Climbing Amid Economic Concerns

Recent concerns about U.S. trade policy and broader economic issues have weighed heavily on market indexes in recent weeks. However, these fears seem to be receding, as evidenced by the recent rally in tech stocks. The Magnificent Seven companies, in particular, have emerged as clear beneficiaries of the positive sentiment surrounding their financial performance. As investors digest Meta and Microsoft’s strong earnings, tech stocks are once again in the spotlight, with many anticipating more strong results from Apple and Amazon in the coming days.

Looking Ahead: Apple, Amazon, and Nvidia on the Horizon

As we approach the end of the trading day, all eyes will be on Apple and Amazon, both of which are scheduled to report their earnings after the close today. With expectations high for both companies, their results could further fuel the rally in tech stocks. Nvidia, the final member of the Magnificent Seven to report, is scheduled for May 28, with analysts eagerly awaiting its results. The outcome of these upcoming reports will likely continue to shape market sentiment and could keep the momentum going for big tech stocks.