Microsoft (NASDAQ: MSFT) stock is in the red in Tuesday’s trading, but it has regained some ground after initial sell-offs. As of 2:30 p.m. ET, the company’s share price was down 2% after having been down as much as 3.2%. The S&P 500 had moved 0.6% lower in the daily session at the same point, and the Nasdaq Composite had fallen 1.7%.
Despite the significant valuation pullback, there was some good news for Microsoft today — with the company announcing it had expanded its relationship with consulting firm KPMG. Even so, fears about macroeconomic factors and the potential impact of SpaceX’s upcoming initial public offering (IPO).
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Microsoft and KPMG just expanded their partnership
Microsoft and KPMG published a press release today announcing that they are deepening their existing business relationship. KPMG will begin using Microsoft Agent 365 to enhance its artificial intelligence (AI) framework. KPMG’s member firms will also be deploying Microsoft 365 Copilot. While the expanded partnership looks like a significant AI win for Microsoft, investors are focused on other catalysts today.
The stock market could be hugely volatile this week
The Bureau of Labor Statistics is set to publish its Consumer Price Index (CPI) report for May tomorrow morning, and the forthcoming inflation snapshot could make waves across the stock market. Last Friday’s stronger-than-expected jobs report caused big sell-offs for stocks because investors saw the report making it more likely that the Federal Reserve will raise interest rates. If CPI inflation comes in hotter than anticipated, it could cause investors to become even more fearful of a rate hike this year and result in strong selling action across the market.
SpaceX’s IPO this Friday is likely also factoring into bearish momentum for the market today. With the company set to go public at a record-setting market capitalization of $1.77 trillion, the IPO could wind up being a big test for the broader market. If SpaceX tumbles following its public debut, investors could view it as a sign that the market’s appetite for risky growth stocks has weakened.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again
In 2009, a “Double Down” signal flashed for a little-known chipmaker called Nvidia. If you’d invested $5,000 then, you’d be sitting on $2,709,074 today.*
