Apple, Autodesk, General Motors, and More

The Dow and S&P 500 were lower at midday Tuesday ahead of Wednesday’s decision by the Federal Reserve about the future of interest rates, and a report on May consumer prices. The Nasdaq was little changed.

Shares of Academy Sports + Outdoors (ASO) declined as the sporting goods and outdoor recreation gear retailer missed profit and sales estimates, blaming “economic pressures” on consumers.

Tesla (TSLA) shares lost ground ahead of this week’s shareholder meeting where investors will decide on Elon Musk’s $55.8 billion pay package. 

Autodesk (ADSK) shares fell as the Securities and Exchange Commission (SEC) and Department of Justice investigate the software maker after it replaced its CFO following an internal probe of its accounting practices.

Apple (AAPL) was the best-performing stock in the Dow and S&P 500, with shares hitting an all-time high, a day after the iPhone maker announced its iOS 18, Apple Intelligence, and an artificial intelligence (AI) partnership with ChatGPT maker OpenAI.

Shares of General Motors (GM) gained when the Big Three automaker announced a $6 billion stock buyback, its second repurchase plan in seven months.

FMC (FMC) shares rose as the former CEO of the agricultural chemical maker, Pierre Brondeau, returned to that position after CEO Mark Douglas stepped down.

Oil futures were down and gold prices were up. The yield on the 10-year Treasury note dropped. The U.S. dollar advanced on the euro, pound, and yen. Most major cryptocurrencies traded in negative territory.