The Nasdaq Composite (^IXIC) and the S&P 500 (^GSPC) are slipping as Wall Street reacts to the latest economic data. Initial jobless claims came in at 238,000 for the week ending June 15, higher than economists’ expectations. On the housing front, the average rate for a 30-year fixed-rate mortgage fell to 6.87%, according to Freddie Mac. It’s the lowest level since early April. It comes after new housing starts and building permits fell more than expected in May. AI-related stocks are in focus after Elon Musk said Dell (DELL) and Super Micro Computer (SMCI) will be providing servers for his startup xAI’s supercomputer. Other trending tickers on Yahoo Finance include Advanced Micro Devices (AMD), Apple (AAPL), and Chipotle Mexican Grill (CMG).
Key guests include:
3:20 p.m. ET – Antonio Neri, HPE CEO
3:30 p.m. ET – Tomasz Tunguz, Founder of Theory Ventures
4:00 p.m. ET – Raphael Zagury, Swan Bitcoin Chief Investment Officer
4:50 p.m. ET – Kamran Ansari, Headline Venture Partner
