Stock Market Update GitLab Plunges IBM Rises Tesla Surges as China Talks Stall

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Find out what happening right now and get all the pieces of the puzzle on important data activity before the major news sources break the story and see what are the trends
 

•  11 Jun 2025
 

U.S. stock futures dip as markets react to the lack of significant progress in the high-stakes U.S.-China trade talks, which ended with vague "framework" agreements and no clear path forward. Investors hate uncertainty, and today’s market mood reflects that, with the S&P 500, Nasdaq, and Dow Jones futures all edging lower by about 0.1%.

Meanwhile, Tesla (TSLA) continues its rally, up 2.6% in premarket after gaining nearly 6% yesterday. The buzz? A viral video showing a self-driving Tesla Robotaxi cruising through Austin. CEO Elon Musk confirmed a July 22 launch target, though with his usual caution around timelines. Combine that with Musk’s recent olive branch towards President Trump, and Wall Street seems pleased with Musk returning to business focus.

On the other end of the sentiment spectrum, GitLab (GTLB) is taking a nosedive, dropping 12% premarket despite posting solid quarterly earnings. The issue? A weak full-year forecast that's too close to analyst expectations. In the high-growth software sector, even slight doubts about future expansion can spark a sell-off.

GameStop (GME) is sliding again, down 4.7% as fading meme-stock momentum meets disappointing earnings. Revenue dropped 17% YoY despite posting a profit, highlighting the ongoing struggle to transition away from physical retail toward digital.

Oracle (ORCL) is slipping 0.4% ahead of its Q4 earnings. With expectations high for $95.58 billion in annual revenue, investors are looking for proof that Oracle can sustain its AI and cloud momentum in an increasingly competitive space.

In contrast, IBM (IBM) continues its climb, rising 0.2% early after closing at an all-time high of $276. The company unveiled plans for the world’s first fault-tolerant quantum computer set to launch in 2029, strengthening its position as a leader in quantum computing with massive implications for finance, cybersecurity, and healthcare.

Nvidia (NVDA) holds steady after briefly becoming the most valuable company on Wall Street, with a $3.51 trillion market cap. All eyes are on its European AI expansion and sovereign digital infrastructure efforts via its Blackwell platform, keeping Nvidia front and center in the AI revolution.