12:00 PM EDT, 05/22/2025 (MT Newswires) -- All three major US stock indexes were slightly higher in midday trading as long-term Treasury yields rose further after House Republicans narrowly passed President Donald Trump's tax bill on Thursday.

JPMorgan Chase ( JPM ) Chief Executive Jamie Dimon said he is not ruling out that the US could fall into stagflation as it faces ongoing geopolitical and fiscal risks, Bloomberg reported Thursday, citing an interview with the CEO. Dimon also said he agrees with the Federal Reserve's recent decision to hold rates steady. JPMorgan ( JPM ) shares were up 1.0% around noon.

US Secretary of State Marco Rubio said late Wednesday on X that a Venezuela oil-export license will expire "as scheduled next Tuesday May 27th," defying expectations that it would be extended for companies like Chevron ( CVX ) . Shares of Chevron ( CVX ) were down 0.8%.

Advance Auto Parts ( AAP ) reported a fiscal Q1 adjusted loss Thursday of $0.22 per diluted share, swinging from earnings of $0.33 a year earlier. Analysts polled by FactSet expected a loss of $0.82. Fiscal Q1 net sales were $2.58 billion, down from $2.77 billion a year ago but above the FactSet consensus of $2.50 billion. The company reaffirmed its full-year adjusted EPS and net sales guidance of $1.50 to $2.50 and $8.40 billion to $8.60 billion, respectively. Advance Auto Parts ( AAP ) shares soared nearly 55%.

Shares of solar companies were down substantially on Thursday after the tax bill that passed the US House included cuts to key clean energy credits, according to media reports. SunRun ( RUN ) , Enphase (ENPH) and SolarEdge Technologies ( SEDG ) shares were down 39%, 17% and 21%, respectively.

BP (BP) has commenced the sale process of its Castrol unit, Reuters reported Thursday, citing two unnamed people with knowledge of the process. The sale of its lubricants business is part of the energy company's plan to raise $20 billion by 2027 via asset sales, the report said. BP shares were down 0.4%.

Snowflake (SNOW) reported fiscal Q1 non-GAAP earnings late Wednesday of $0.24 per diluted share, up from $0.14 a year earlier and above the FactSet consensus estimate of $0.21. Fiscal Q1 revenue was $1.04 billion, up from $828.7 million a year ago and above the FactSet consensus of $1.01 billion. The company said it expects Q2 product revenue of $1.035 billion to $1.040 billion. Analysts expect $1.02 billion. For full-year fiscal 2026, the company expects revenue of $4.33 billion, up from previous guidance of $4.28 billion. Analysts expect $4.28 billion. Snowflake shares were up past 11%.

Microsoft ( MSFT )-backed (MSFT) OpenAI is eyeing the Asia-Pacific region for new data center sites, Bloomberg reported Thursday, citing a person familiar with the matter. Starting next week, Chief Strategy Officer Jason Kwon will visit Japan, South Korea, Australia, India and Singapore, the person told Bloomberg. Microsoft ( MSFT ) shares were up 0.7%.

Toronto-Dominion Bank ( MLWIQXX ) said Thursday it initiated a new restructuring program in Q2 that includes a 2% reduction in its workforce. TD Bank shares were up 3.4%.

Kraken, the cryptocurrency exchange, intends to allow non-US customers to trade popular stocks like Nvidia ( NVDA ) , Apple ( AAPL ) and Tesla (TSLA) as tokens over a digital ledger, The Wall Street Journal reported Thursday. Shares of Nvidia ( NVDA ), Apple ( AAPL ) and Tesla were up 1.1%, down 0.3% and up 2.7%, respectively.

Price: 261.73, Change: +0.69, Percent Change: +0.26