Market Update: DRI, WTRG, BHF


Stocks were mixed on Monday morning as investors awaited new developments in the debt ceiling negotiations in Washington. President Biden and House Speaker McCarthy are expected to meet later today, while Treasury Secretary Janet Yellen reiterated that the U.S. faced a June 1 deadline for avoiding default. In corporate news, Micron Technology fell 3% after the Chinese government banned the import of the company’s memory chips into China on cybersecurity grounds. Meta Platforms shares rose 2% despite a $1.3 billion fine from the European Union for privacy violations and the unlawful transfer of EU user data to the U.S. The Dow fell 0.2%, the S&P rose 0.1%, and the Nasdaq rose 0.5%. Crude oil traded near $71.50 per barrel while gold fell $6 to $1976 per ounce.

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