In the latest stock market analysis, a significant downturn was observed in chip stocks, prompting the attention of CNBC TV producers as they prepared for the next trading session and reviewed today’s market movements.
Tomorrow’s major economic indicators were highlighted, with a series of key data releases set to air on “Squawk Box” at 8:30 a.m. ET. Of note, the initial jobless claims figure is anticipated to land around 223,000, based on consensus estimates from Dow Jones. Additionally, durable goods orders are projected to decline by 4%, while a third reading on real gross domestic product (GDP) is expected to reveal a growth rate of 1.7%. Treasury Secretary Scott Bessent expressed confidence that the GDP could rebound to 3% by year-end. The May reading of the personal consumption expenditures price index will also be released, with Dow Jones estimating a month-to-month increase of 0.5% and an annual gain of 4.1%.
Morning earnings reports featured prominently on “Squawk Box,” with Darden Restaurants, parent company of major dining establishments like Olive Garden and LongHorn Steakhouse, posting an increase of over 6% in the past three months. In contrast, McCormick, a Maryland-based seasoning giant known for its Old Bay product, struggled with more than an 8% decrease in its share price during the same timeframe, losing 39% since its June 2025 peak. Winnebago, also set to report in the morning, suffered a notable 22% decline over the last three months.
After market hours, BlackBerry—a name once synonymous with mobile devices—will be unveiling its earnings after evolving into a software-focused company. Despite a staggering 167% increase over the past quarter, the stock remains down 20% from a recent high on June 4. FedEx Freight is also reporting, although a preliminary look has already been provided through FedEx’s prior announcement. The stock has experienced a 20% drop since May 28.
In a more optimistic light, Micron Technology reported its earnings on Wednesday evening and saw its stock rise 16% in extended trading, outperforming Wall Street forecasts. CEO Sanjay Mehrotra noted that significant supply shortages in memory and storage will persist, although gradual improvements are expected in the industry supply chain by 2028. Micron’s stock has surged nearly 40% in the last month. Similarly, Qualcomm enjoyed a 13% increase in after-hours trading following its investor day presentation, where it predicted a substantial rise in non-handset revenue by 2029. Over the past three months, Qualcomm’s stock has soared by 53%.
In the banking sector, several institutions announced increased dividends following favorable stress test outcomes. Goldman Sachs will raise its dividend from $4.50 to $5 per share, while Morgan Stanley increased its payout from $1 to $1.15. Wells Fargo plans to lift its dividend from 45 cents to 50 cents, and JPMorgan announced an increase from $1.50 to $1.65 alongside a $50 billion repurchase program. Stocks across these banks have experienced fluctuations, with Goldman Sachs and Morgan Stanley both down about 4% from their recent highs, yet up nearly 30% and 33%, respectively, over the last three months.
CNBC continues to expand its coverage of options trading, with live segments scheduled from the Cboe on Thursday. Stations “Power Lunch” and “The Exchange” will broadcast directly from the options pit, highlighting developments in notable market players. Cboe Global Markets has seen its shares decline by 33% from a May peak, while the CME Group is down 30% from its March high.
In energy news, the nuclear sector received attention as CNBC’s Pippa Stevens prepared for a visit to the Idaho National Laboratory, where a new reactor is under review. Vistra, a key player in the nuclear industry, has fallen 26% from its September high, and Constellation Energy saw a 35% decrease relative to its October peak. Meanwhile, the Global X Uranium ETF has also dipped by 28% since January.
Market participants remain vigilant as they anticipate the forthcoming economic data and corporate earnings that will shape trading decisions in the sessions ahead.
