U.S. equities had been principally edging larger at noon because the market continued to attend for updates on U.S.-China commerce talks. The S&P 500 and Nasdaq had been up barely, and the Dow Jones Industrial Average was close to flat.

Vitality-related firms, together with Halliburton (HAL), APA (APA), and Chevron (CVX), superior together with the value of oil on optimism the commerce talks shall be profitable.

Shares of Walt Disney (DIS) climbed when the leisure large paid Comcast (CMCSA) $438.7 million to take full management of the Hulu streaming service. Comcast shares rose as effectively.

Casey’s Common Shops (CASY) shares soared to a report excessive when the comfort retailer operator beat revenue and gross sales estimates and boosted its dividend on robust in-store and gasoline gross sales.

J.M. Smucker (SJM) was the worst-performing inventory within the S&P 500 after the jelly and snack meals maker missed gross sales forecasts and gave weak steering because it handled “a dynamic and evolving exterior atmosphere.”

Shares of United Pure Meals (UNFI) continued their decline from yesterday following its announcement {that a} cyberattack disrupted operations. The meals distributor mentioned it was withholding up to date earnings per share and gross sales steering because it determines what influence the hack might need.

McDonald’s (MCD) shares dropped on a double downgrade from Redburn Atlantic, which pointed to falling foot site visitors and the potential impact of hovering weight-loss drug demand on its gross sales.

Gold futures fell. The yield on the 10-year Treasury be aware was little modified. The U.S. greenback gained on the pound and yen, and was little modified towards the euro. Costs had been up for many main cryptocurrencies.

Name it the “locked-in” job market: extra folks than traditional are caught in a job search or a job they do not need, and employers are equally holding on to staff they could or might not want.

That is the image painted by latest knowledge on the labor market, which reveals that employers and staff alike have responded to uncertainty about tariffs by staying in place. The hiring fee has slacked off in latest months, far under post-pandemic ranges. Fewer staff are quitting their jobs too, an indication that they don’t seem to be assured to find a greater one. And layoffs stay close to historic lows, displaying employers are reluctant to let go of the employees they’ve.

“People are sticking with their present hand quite than drawing new playing cards,” Mischa Fisher, economist at on-line course website Udemy, wrote in a commentary final week concerning the most recent report on the job market from the Bureau of Labor Statistics. “We’re seeing the labor market’s model of the housing market’s ‘lock-in’ effect,’ the place staff are too nervous to make strikes. This freeze is obstructing regular alternative movement—early profession staff cannot break in, skilled staff cannot transfer up, and burned-out staff keep put.”

In Might, employers added 139,000 jobs, sufficient to stop the unemployment fee from rising, however removed from a sizzling labor market.

“Whereas the U.S. job market continued so as to add a good variety of jobs in Might, it’s notably cooler than it was even a number of months in the past, and continues to melt—to the purpose the place there’s not a lot room for additional slowdown earlier than unemployment meaningfully begins to rise,” Cory Stahle, an economist on the hiring lab of job searching website Certainly, wrote in a commentary.

Tariff Bother

Behind the slowdown are President Donald Trump’s tariffs imposed on U.S. buying and selling companions earlier within the yr. Trump has announced tariffs, then paused or changed them so many times that corporations have been left guessing about what import taxes will likely be years or months forward. Meaning many have put enlargement plans on ice whereas they await readability, in response to recent surveys of enterprise leaders.

Many forecasters count on tariffs to begin dragging down job growth and pushing up unemployment later within the yr. The consequences might be much less if Trump strikes offers with buying and selling companions.

Within the meantime, different forces are additionally dragging down the job market. Excessive rates of interest from the Federal Reserve, meant to curb inflation, are maintaining enterprise loans costly, and the Trump administration’s mass layoffs of federal staff have additionally taken a chew, Daniel Zhao, chief economist at job-hunting website Glassdoor, famous in a commentary final week.

“The job market continues to face tall as headwinds from President Trump’s tariffs begin to blow,” Zhao wrote. “Tariff impacts will doubtless present up later within the yr, however within the interim, the job market is ready for the opposite shoe to drop.”

The fallout from a cyberattack continues to tug shares of United Pure Meals (UNFI), as a cautious outlook offset the meals distribution firm’s robust fiscal third-quarter outcomes.

The inventory value sank 7% Monday as United Pure Meals revealed the hacking disrupted operations. In its monetary report, the corporate famous that as a result of it is unclear what the influence of the cyberattack will likely be, it was not updating steerage for any metrics apart from GAAP internet loss/acquire and EPS “regardless of its underlying enterprise momentum and third quarter out-performance.” 

The corporate now sees a full-year internet lack of $55 million to $80 million, in comparison with the sooner expectation of a internet lack of $13 million to a revenue of $3 million. It anticipates a per-share lack of $0.90 to $1.30 versus the earlier projection of a per-share lack of $0.15 to a per-share acquire of $0.05. It stated these mirrored “prices and costs related to exiting a buyer contract and optimizing the Firm’s distribution community within the Northeast.”

Q3 Outcomes Simply High Estimates

That information got here as United Pure Meals posted fiscal third-quarter adjusted earnings per share (EPS) of $0.44, double what analysts surveyed by Seen Alpha have been in search of. Web gross sales elevated 7.5% year-over-year to $8.06 billion, additionally forward of estimates.

The corporate reported the gross sales leap was “primarily pushed by a 4% enhance in wholesale unit volumes, together with the advantage of new enterprise with present and new prospects, in addition to inflation,” including the efficiency “was led by pure product progress.”

In response to the net assault, CEO Sandy Douglas defined the corporate was “targeted on diligently managing by means of the cyber incident we introduced yesterday to quickly and safely restore our capabilities, whereas serving to our prospects with short-term options wherever potential.” United Pure Meals is a serious provider of Amazon’s (AMZN) Entire Meals Markets. 

Yesterday’s information despatched shares of United Pure Meals into damaging territory for the yr, and with at present’s 4% slide they’re down about 9% in 2025.