11:42 AM EDT, 05/30/2025 (MT Newswires) -- All three major stock indexes were down in late-morning trading Friday after President Donald Trump said on Truth Social that China has violated its agreement with the US.

The personal consumption expenditures price index, the Federal Reserve's preferred gauge of inflation, rose by 0.1%, as expected after a flat reading in March, trimming the year-over-year rate to 2.1% from 2.3%. The core PCE price index, which excludes food and energy prices, increased by 0.1%, also inline with expectations and following a 0.1% gain in March. The year-over-year rate slowed to 2.5% from 2.7% in the previous month.

In company news, the Trump administration has selected Palantir Technologies ( PLTR ) to put the technological building blocks in place for the president's executive order calling for the federal government to share data across agencies, The New York Times reported Friday, citing public records, six government officials and Palantir ( PLTR ) employees. The company has received over $113 million in federal spending since Trump took office, the report said, citing public records, including extra funds from existing contracts as well as new contracts with the Pentagon and the Department of Homeland Security. Palantir ( PLTR ) shares were up 6.0% around midday.

Marvell Technology ( MRVL ) reported fiscal Q1 non-GAAP earnings late Thursday of $0.62 per diluted share, up from $0.24 a year earlier and above the FactSet consensus analyst estimate of $0.61. First-quarter revenue was $1.90 billion, up from $1.16 billion a year ago and above the FactSet consensus of $1.88 billion. The company expects fiscal Q2 non-GAAP EPS of $0.62 to $0.72 on revenue of $2 billion, plus or minus 5%. Analysts expect EPS of $0.66 on revenue of $1.98 billion. Marvell ( MRVL ) shares were down 5.1%.

Costco Wholesale ( COST ) reported fiscal Q3 net income late Thursday of $4.28 per diluted share, up from $3.78 a year earlier and above the FactSet estimate of $4.24. Fiscal Q3 total revenue was $63.21 billion, up from $58.52 billion a year ago and above the FactSet consensus of $63.13 billion. Costco shares were up 3.7%.

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