Midday movers: Apple, Palo Alto Networks, Chevron and more

June 5, 2023 1:55 PM EDT -- Stocks are mixed on Monday as investors look ahead to next week's Federal Reserve interest rate decision. Here are the market movers for June 5.

  • Apple Inc (NASDAQ: AAPL) shares rose 1.9% ahead of the start of its annual Developers Conference, where it is expected to unveil a number of new products, including the highly anticipated mixed reality headset.

  • Palo Alto Networks Inc (NASDAQ: PANW) shares rose 5.3% after the cybersecurity company will be added to the S&P 500, taking the place of Dish Network (NASDAQ: DISH).

  • Chevron Corp (NYSE: CVX) shares rose 0.2% and Exxon Mobil Corp (NYSE: XOM) shares rose 0.3% as oil prices jumped. Saudi Arabia agreed to cut another one million barrels a day from production in July as other major oil producing countries pushed production goals into next year.

  • General Motors Company (NYSE: GM) shares slipped 0.1% after the automaker said it would invest $1 billion in two Michigan plants to produce next-generation heavy duty trucks.

  • Spotify Technology SA (NYSE: SPOT) shares rose 2.8% after the streaming media platform said it was cutting 200 jobs, or about 2% of its workforce, as it makes changes in its podcast business.

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