Stocks slipped on June 11, 2025, ending three days of gains as investors processed a softer-than-expected inflation report and awaited details on U.S.-China trade talks.
The S&P 500 dropped 0.3%, the Nasdaq Composite fell 0.5%, and the Dow Jones Industrial Average was nearly flat, giving back earlier intraday gains. Despite the decline, the S&P 500 stays less than 2% below its record high set earlier this year.
The Consumer Price Index (CPI) for May showed inflation rose by only 0.1% month-over-month, below economists’ expectations of 0.2%. Core inflation, which excludes food and energy, increased 2.8% year-over-year, matching April’s rate.
This cooler inflation reading eased concerns about the impact of tariffs on prices and raised hopes for future Federal Reserve rate cuts.
In trade news, U.S. and Chinese officials concluded talks in London, announcing a framework to implement last month’s agreement to reduce tariffs.
The deal, pending approval from President Trump and Chinese President Xi Jinping, aims to ease tensions by scaling back tariffs and addressing issues like rare earth mineral exports. Trump declared on social media that the “deal with China is done,” though details remain limited.
Tesla shares edged up 0.1% after a recent rally following a public dispute between CEO Elon Musk and President Trump. Musk expressed regret over some of his recent posts and confirmed the Robotaxi launch date set for June 22.
Meanwhile, other major tech stocks mostly declined, with Apple and Amazon down about 2%, while Broadcom and Microsoft saw modest gains. Intel shares fell over 6%, leading losses among S&P 500 components.
Energy stocks rose alongside oil prices, with Devon Energy up 3% and Exxon Mobil, APA Corp., and Occidental Petroleum each gaining about 2%. West Texas Intermediate crude surged 5.1% to $68.30 per barrel, its highest level since early April. Bitcoin traded near $108,600, close to its recent record high.
The 10-year Treasury yield dropped to 4.42%, easing borrowing costs slightly. The U.S. dollar index fell 0.5%, while gold futures gained 1%, reaching $3,375 an ounce.
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