DTE Energy Company (DTE) Stock Forecasts

Summary

Stocks edged higher on Wednesday morning, led by gains in the Communication Services, Energy, and Materials sectors. Investors weighed weak economic data from China, where exports plunged 7.5% from the prior year in May, along with new GDP growth forecasts from the Organization for Economic Cooperation and Development. The OECD now projects global economic growth of 2.7% this year, up slightly from its prior forecast of 2.6%, and 2.9% growth in 2024, unchanged from its previous estimate. On the earnings front, United Natural Foods shares dropped 25% after the food distributor posted weaker-than-expected fiscal 3Q earnings and lowered its full-year guidance. The Dow rose 0.1%, the S&P 0.2%, and the Nasdaq 0.4%. Crude oil traded near $72.50 per barrel, while gold rose $4 to $1986 per ounce.