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Major U.S. equities indexes ended the midweek session slightly lower.

Stocks failed to extend their rally even as the latest Consumer Price Index (CPI) report showed a lighter-than-expected uptick in inflation in May, while the U.S. and China announced a framework for implementing a trade deal.

The S&P 500 traded in positive territory for much of the day but lost steam on Wednesday afternoon. It closed with a loss of 0.3%, snapping a streak of three straight winning sessions. The Nasdaq was down 0.5%, while the Dow finished just a point below Tuesday’s closing level.

After securing the S&P 500’s top performance in the previous session, Intel (INTC) shares gave back most of their gains on Wednesday, tumbling 6.5% to record the steepest daily drop in the benchmark index. This week’s volatility for Intel stock came as trade talks between the U.S. and China boosted hopes for less onerous semiconductor export restrictions. Meanwhile, the chipmaker remains in the midst of a major restructuring effort under CEO Lip-Bu Tan, who has been focused on cutting costs through workforce reductions, divestitures, and other initiatives since entering the role in March.

Shares of steelmakers came under pressure following reports that the U.S. and Mexico are negotiating to scale back or cancel President Donald Trump’s 50% tariff on steel imports up to a certain volume. The North American neighbors are reportedly exploring a quota system that would allow a specific amount of the metal to enter the U.S. from Mexico duty-free or at lower rates, with excess amounts subject to the full 50% levy. Nucor (NUE) shares lost 6.1%.

Lockheed Martin (LMT) shares dropped 4.3% after reports indicated that the U.S. Department of Defense is cutting down on its orders for the aerospace and defense manufacturer’s F-35 fighter jets. Delays involving a technological upgrade have hampered the finalization of contracts for the F-35.

Warner Bros. Discovery (WBD) jumped 5%, climbing the most of any S&P 500 stock on Wednesday, as investors continue to evaluate the entertainment giant’s recently announced plan to split its studio operations and TV business into two separate companies. The stock has been volatile since the announcement, and uncertainties about the strategy remain.

Starbucks (SBUX) shares jolted 4.3% higher on Wednesday. The coffee giant announced the launch of Green Dot Assist, a virtual assistant powered by generative artificial intelligence (AI) that is designed to help baristas with in-store functions, from learning to make drinks to troubleshooting maintenance issues. The company’s CEO also said that Starbucks would accelerate its rollout of an updated staffing model across its stores and noted that the company has garnered significant interest regarding a possible sale of its stake in its China business.

Shares of GE Vernova (GEV), the energy technology company that spun off from General Electric in 2024, surged 3.9% after Bank of America boosted its price target on the stock. Analysts highlighted their expectations for growing electricity demand in the U.S. over the next 10 years. They noted that GE Vernova could be well-positioned to capitalize on its natural gas turbine market strength. BofA also pointed to upside potential for GE Vernova’s electrification business, anticipating strong demand for grid reliability equipment.

Broadcom (AVGO) shares gained 3.4%. In results released last week, the chipmaker reported record quarterly revenue, driven by a boom in AI semiconductors, prompting numerous analysts to raise their price targets on the stock. However, Broadcom issued a muted forecast for the current quarter, citing potential softness in its server storage, wireless, and industrial businesses, and its shares initially moved lower in the wake of the report. Despite these challenges, Broadcom expects AI revenue growth to remain robust, saying it could hit $5.1 billion in the fiscal third quarter.

Quantum Computing (QUBT) shares surged to their highest level since December on Wednesday, boosted by Nvidia CEO Jensen Huang’s bullish remarks about the emerging technology.

Shares of quantum computing companies shot higher after Huang said the industry is “reaching an inflection point,” adding that he expects quantum computing to be able to solve some interesting problems in the coming years. The Nvidia (NVDA) chief’s comments struck a more optimistic tone that earlier this year when he said the technology was 15 to 30 years away. 

Quantum Computing shares, which traded below $1 dollar a year ago, gained 25% on Wednesday to close at around $19, putting the stock back into positive territory for 2025. The company last month said it had finished construction of its Quantum Photonic Chip Foundry in Tempe, Ariz., and that it had deepened its engagement with both government and commercial partners amid growing interest in its photonic and quantum optics technology.

Below, we take a closer look at Quantum Computing’s chart and apply technical analysis to identify major price levels worth watching out for.

Rectangle Formation Breakout

After retracing to the 200-day moving average (MA), Quantum Computing shares trended higher before forming a rectangle, a chart formation signaling a continuation of the stock’s longer-term strong uptrend.

That move higher started earlier this week, with the stock breaking out from the formation on the highest daily trading volume since mid-December. Moreover, the relative strength index confirms bullish price momentum, though the indicator also flashes overbought conditions, potentially leading to short-term pullbacks.

Let’s point out two major overhead areas on Quantum Computing’s chart to watch if the stock continues to climb and also identify key support levels worth monitoring during future retracements.

Major Overhead Areas to Watch

Near-term strength could initially lift the shares to around $27. This area on the chart may provide overhead resistance near the stock’s prominent December peak.

Investors can project an overhead area to watch above the December high by using the measured move technique, also known by chart watchers as the measuring principle.

When applying the analysis to Quantum Computing’s chart, we calculate the percentage change of the uptrend that immediately preceded the rectangle and add it to the formation’s top trendline value. For example, we apply a 150% increase to $15, which projects a target of $37.50. representing nearly 100% upside from Wednesday’s closing price.

Key Support Levels Worth Monitoring

Retracements in the stock could see the price revisit support around $15. Investors would likely look for “buying the dip” opportunities in this area near the rectangle formation’s top trendline.

Finally, selling below this level could trigger a drop to $9. Quantum Computing shares find a confluence of support at this location near the upward sloping 50-day MA and a trendline that links a range of price action on the chart stretching back to last November.

The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info.

As of the date this article was written, the author does not own any of the above securities.

Below you’ll find featured rates available from our partners, followed by details from our ranking of the best CDs available nationwide.

4.60% for 9 Months or 4.50% Until March 2027

Today’s best CD rate in the country comes from Newtek Bank, which is paying 4.60% on a 9-month term, extending your rate lock into 2026. It’s one of four CDs that have joined top APY slots in the past eight days. The other three are today’s new addition of a 6-month offer from Rising Bank guaranteeing 4.51%, a 4.45% 12-month CD unveiled yesterday by T Bank, and the PenAir certificate mentioned below that leads in the 2-year term.

Beyond the 4.60% national leader, a slew of institutions are offering 4.50%: from PonceBankDirect for 3 months, to Abound Credit Union and Vibrant Credit Union for 1 year, and even a 21-month offer from PenAir Credit Union. PenAir’s CD would guarantee your rate all the way until March 2027.

Shares of Papa John’s jumped Wednesday on the news that the pizza chain might be taken private. 

Papa John’s International (PZZA) stock finished the session up 7.5%, after rising as much as 15% earlier in the day to its highest level since November. A Semafor report said that asset manager Apollo and Irth Capital Management have bid to take the company private in a deal valuing it at about $2 billion. Papa John’s market capitalization is around $1.6 billion, according to Visible Alpha.

Irth Capital, which is associated with Qatar’s royal family, as well as Apollo and Papa John’s, did not respond to Investopedia’s requests for comment in time for publication. 

Papa John’s in early May reported first-quarter North American comparable-store sales that were down year-over-year. Its shares’ value has risen more than a quarter this year, climbing off April lows. 

Google extended buyout offers to more employees this week, marking the latest move by Big Tech firms to lower headcounts. It may not be the last, as companies face pressure to reduce spending amid an uncertain economic environment, while also investing in AI infrastructure.

Tech has seen an exodus in 2025. The sector has announced nearly 75,000 job cuts in 2025 as of the end of May, according to a report last week from Challenger, Gray & Christmas, up from about 55,000 cuts in the same period in 2024.

Within the last two months alone, reports emerged that Microsoft (MSFT) is looking to cut 3% of its global workforce, or roughly 7,000 jobs, and Amazon (AMZN) reportedly trimmed about 100 jobs in its devices and services unit. Intel (INTC) intends to cut a whopping 20% of its workforce this year, as the embattled chipmaker attempts to turn around its business.

While software and cloud giants like Microsoft and Google parent Alphabet (GOOGL) may be seen as better-equipped to weather tariff-fueled uncertainty than many other companies with more direct exposure, worries about the economy in the face of rapidly shifting trade policies could still hold back demand, analysts have warned.

Another factor at play is huge AI infrastructure investments announced by Microsoft, Alphabet and others. That spending puts greater pressure on profit margins, D.A. Davidson analyst Gil Luria told Investopedia, meaning companies “are either keeping lower levels of hiring for personnel, or even sometimes taking action to reduce personnel.” Advancements also make it possible for companies to rely on smaller teams of software developers, Luria added.

Microsoft, for example, has said it plans to spend $80 billion in capital expenditures this year. Luria estimates that for every year Microsoft invests at current levels, there are 10,000 positions the company could have to either let go unfilled or cut.

The average median monthly housing cost is increasing for homeowners, even as the price tag on homes has declined, according to the most recent month-over-month data analyzed by Investopedia. One factor behind the trend? Rising interest rates. 

The median monthly housing cost for homeowners rose $16 to $2,412 in May, up from April’s reading of $2,396, according to data calculations. Meanwhile, the housing cost-to-income ratio worsened slightly to 34.73% (from 34.66%), and Investopedia’s Home Affordability Index slipped to 0.86 (from 0.87) during that time period.

While the median home price for April (the latest available reading) was down slightly (to $367,711 from $368,247 in March), average monthly mortgage interest rates increased, pushing the combined cost higher. Investopedia’s monthly payment figure includes principal, interest, taxes, and insurance for a median-priced home.

Housing Affordability

Affordability consists of three parts: income, cost, and the impact of housing costs on household budgets. Homeowners whose housing cost ratio exceeds 30% of their income are considered “housing cost burdened” by the federal government. Our affordability calculations use that same ratio. 

The housing cost ratio stood at 34.4%, according to our recent analysis of trends in April compared to a month prior. This means that 34.4% of median household income was spent on housing, above the official 30% threshold for affordability.

The Investopedia Home Affordability Index shows the relationship between housing costs and income. A reading of 1.0 or better means housing is affordable. Readings below 1.0 mean housing is unaffordable.

Income Required to Make a Median-Priced Home Affordable

We also calculate the gross income required to afford a median-priced home. For May, that figure was $8,040 (up from $7,936  a month prior). In other words, a household would need to bring in $8,040 per month for median housing costs to consume 30% or less of income.

Home Affordability Gap

This measure shows the difference between median income and the income required to afford a median-priced home. Over time, the affordability gap widens and narrows as interest rates and home prices move with their markets while income rises steadily.

The home affordability gap for May was $1,094. In practical terms, a median-income household would need an extra $1,094 monthly to bring housing costs down to the 30% affordability threshold, leaving less for essentials like food, transportation, or financial goals like college or retirement.

The narrowest gap in our data was $620, recorded in September 2024 when mortgage rates hit their most recent low. On average, the gap has held at $1,152 since June 2023.

Housing Costs

Our affordability charts and indicators are derived from housing costs—median home price, average monthly interest rates, and additional housing costs like insurance and property taxes.

GameStop (GME) shares fell in late-Wednesday trading after the company announced plans for a big convertible notes offering expected largely to fund its Bitcoin-buying aims.

GameStop’s stock, which fell about 5% in the day’s regular session, was off another 10% in after-hours action. The company in a press release said it was offering $1.75 billion in the notes, with as much as $250 million more available to initial purchasers of the notes. The news affirmed plans announced in March.

The company in its statement said the proceeds were intended for “general corporate purposes, including making investments in a manner consistent with GameStop’s Investment Policy and potential acquisitions.” The notes are convertible into either company stock or a combination of cash and stock; the conversion rate has not been determined.

GameStop, which earlier this week reported its latest financial results, is a video-game retailer seeking to become a Bitcoin treasury. The company last month said it had recently bought more than 4,700 bitcoin.

Bitcoin traded around $109,000 as of late Wednesday.

The full article continues below these offers from our partners.

What to Expect From the Fed Next Week and Through 2025

Through three consecutive meetings this year, the Federal Reserve has kept the federal funds rate steady. This followed a series of three rate cuts between September and December 2024, which reduced the benchmark rate by a full percentage point. Prior to that, the Fed held its key rate at a 23-year high for 14 months.

The Fed’s rate-setting committee will meet again next week. While the official decision won’t come until Wednesday afternoon, the CME Group’s FedWatch Tool currently shows a 0% chance of the central bank lowering its benchmark rate next week.

Another rate hold is expected for the July 30 announcement as well, with less than a 20% probability of a July rate reduction. That means we likely won’t see a Fed rate cut until the September meeting. (The Fed is not scheduled to meet in August.)

By year-end, however, traders are pricing in about a 70% chance of at least half a percentage point in rate cuts by the December meeting. This would most likely occur through two 0.25-point reductions.

How Next Week’s Fed Announcement Could Affect Savings and CD Rates

Since the Fed is not expected to change rates next week, we don’t foresee any significant shifts in savings account rates in the short term. Because banks and credit unions can adjust their rates on savings accounts quickly, they typically wait for a Fed move before making any changes on those accounts.

Of course, there’s never a guarantee that the top savings account rate will remain available, as any given offer can be adjusted at any time. But across our ranking of the best high-yield savings accounts, we don’t anticipate that next week’s Fed announcement will trigger any meaningful change in the general range of APYs you see there, which currently run from 4.30% to 5.00% APY.

CD rates, however, work a bit differently. Unlike savings accounts, CDs offer not just a current rate, but a guaranteed rate for the future—meaning banks and credit unions are cautious about locking in rates they might regret later. As a result, institutions often adjust CD rates in anticipation of an upcoming Fed move, especially when there’s high confidence in the Fed’s decision.

The best CD rates are currently as high as 4.60% APY. What does the Fed’s meeting mean for them next week? It largely depends on the Fed’s statement and the signals Fed Chair Jerome Powell provides in his post-meeting press conference. Additionally, the Fed’s quarterly “dot plot” projection will give insight into future rate expectations.

If the Fed hints at becoming more comfortable with a near-term rate cut, some institutions may begin lowering their CD rates sooner rather than later. However, if the Fed sticks to its wait-and-see stance, CD rates are likely to remain stable until there’s stronger evidence the central bank is approaching a move.

When CD rate declines do occur, they are likely to be gradual, rather than drastic (unless the Fed makes an unexpected decision). That said, the outlook remains uncertain, since the impacts of President Donald Trump’s tariff policy on inflation, economic growth, and—by extension—Fed monetary policy remain to be seen.

How We Find the Best Savings and CD Rates

Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs and savings accounts to customers nationwide and determines daily rankings of the top-paying accounts. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), and the account’s minimum initial deposit must not exceed $25,000. It also cannot specify a maximum deposit amount that’s below $5,000.

Banks must be available in at least 40 states to qualify as nationally available. And while some credit unions require you to donate to a specific charity or association to become a member if you don’t meet other eligibility criteria (e.g., you don’t live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, read our full methodology.

Oil prices rose as a U.S.-China trade deal and soft inflation report boosted demand expectations while concerns about political instability in the Middle East sparked fears of supply disruptions.

West Texas Intermediate futures contracts, the U.S. crude oil benchmark, rose as much as 5.2% on Wednesday to trade above $68 a barrel for the first time since April 2, when President Trump’s “Liberation Day” tariff announcement pulled prices lower.

Prices surged in afternoon trading amid reports that the State Department had ordered the departure of all nonessential personnel at the U.S. Embassy in Baghdad to address security concerns amid mounting tensions in the Middle East.

Oil prices had risen earlier in the session after the U.S. and China agreed to a trade deal that eased fears about the economic fallout of a protracted trade war between the world’s two largest economies. A soft inflation report added to Wall Street’s optimism about demand.

The energy sector led stock market gainers on Wednesday. Oil companies were up, with Occidental Petroleum (OXY) gaining 2% and ConocoPhillips (COP) both finishing up more than 2%. Read Investopedia’s full coverage of today’s trading here.

Crude oil prices slumped to about $57 per barrel in early May, their lowest level since early 2021, after the Organization of Petroleum Exporting Countries and its allies agreed to boost production in June. Energy markets were on edge even before OPEC announced the supply increase: U.S.-China trade had effectively come to a standstill after the countries increased tariff rates on each other’s goods to more than 100%, threatening to slow global growth and weigh on oil demand.

Prices began to rebound in mid-May after the U.S. and U.K. agreed to a trade deal framework, giving Wall Street confidence that tariff rates would eventually settle below the levels announced in April. Oil’s rebound picked up pace in early June when OPEC lifted its production targets by less than investors expected. 

President Donald Trump’s 90-day pause on “reciprocal” tariffs against trading partners is likely to be extended as negotiations continue, a top White House official said Wednesday.

Treasury Secretary Scott Bessent testified before the House of Representatives’ Ways and Means Committee on Wednesday about the administration’s efforts to negotiate trade deals with other countries.

Bessent said the U.S. is currently in talks with 18 of its most important trading partners. As long as the negotiations continue, the tariff pause for those countries could continue beyond its July 9 expiration, he said.

“It is highly likely that those countries—or trading blocs, as in the case of the EU—who are negotiating in good faith, we will roll the date forward to continue good faith negotiations,” Bessent said.

All imports currently face a 10% baseline tariff. However, the administration has said in the past that if trade deals cannot be reached by July 9, the higher “reciprocal” tariffs on some U.S. trading partners will be implemented.

Bessent’s comments come as the administration has roughly a month to complete what it had once described as “90 deals in 90 days.” So far, only one deal has been announced, with the U.K. Last week, the White House asked countries for their best and final offers.