Stock market live updates: Stocks mixed, best quarter since 1998, Micron jumps - CNBC

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New York Stock Exchange (NYSE) building is seen with the Fearless Girl Statue during Covid-19 pandemic in Lower Manhattan, New York City, United States on May 26, 2020.

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This is a live blog. Please check back for updates.

9:57 am: Inovio hasn't provided critical data on its results, Stat says

Inovio Pharmaceuticals has not provided data needed to determine whether its vaccine is working, Stat, a medical news website reported Tuesday. The company put out a press release Tuesday morning claiming positive results in an early clinical trial, but it did not disclose how many patients produced antibodies that fight the coronavirus, the Stat report said. Inovio also said its vaccine candidate has been selected to participate in study as part of the government's Operation Warp Speed, aimed at fast-tracking development of vaccines. Inovio stock is up nearly 800% year to date. It was down about 7% in trading on Wednesday morning. - Lewis

9:30 am: Stocks open last trading day of the quarter in the red

Stocks moved lower on Tuesday, the last trading day of the month, the quarter, and the first half of 2020. The Dow Jones Industrial Average shed 87 points, for a loss of 0.3%. The S&P 500 was down 0.10%, while the Nasdaq Composite slid 0.06%. Still, the record rebound from March's low has the major averages on track for their best quarter in years. The Dow and S&P are on pace to post their largest quarterly gains since 1998, while the Nasdaq is on track for its best quarter since 2001. – Stevens

9:25 am: Investors must stay 'cautious and selective,' says portfolio manager

Katerina Simonetti, senior portfolio manager at UBS Private Wealth Management, said that with the number of Covid-19 cases rising, there's considerable uncertainty in the market and investors therefore need to be "cautious and selective" going forward. She believes volatility will persist for several months, and that risk-averse investors should consider diversifying their portfolios by adding gold. "We see opportunities in companies that enable and benefit from digital transformation, e-commerce, fintech, genetic therapies and food. Companies in factory automation and robotics are also set to benefit, as industrial firms are planning to shorten global supply chains," she said. UBS' base case forecast sees the S&P 500 trading around 3,300 by December. – Stevens

9:07 am: Inovio shares slip despite promising drug trial results

Stock of Inovio Pharmaceuticals was down more than 12% in early morning trading after the biotechnology company said its coronavirus vaccine candidate showed positive results in early clinical trials. Additionally, its vaccine candidate, INO-4800, has been selected to participate in a non-human primate study as part of the government's Operation Warp Speed, aimed at fast-tracking development of vaccines. Inovio stock is up more than 860% year to date. - Lewis

9:01 am: Goldman Sachs says a mask mandate could save economy from a 5% hit

8:51 am: Conagra jumps following quarterly beat

Shares of Conagra Brands jumped more than 3% during premarket trading after the company's fourth quarter results beat analyst estimates. The food producer posted a quarterly profit of 75 cents per share on an adjusted basis, which was nine cents ahead of estimates. Revenue also topped expectations, and the company gave upbeat guidance as the coronavirus pandemic has led to elevated demand. Shares have gained 19% in the last three months. - Stevens

8:07 am: Some banks stay silent on capital plans, dividends

On Monday night, major banks announced their dividend plans and stress capital buffers following the Federal Reserve's stress test. However, some smaller banks have not reported their plans. PNC Financial has not filed  an update with the Securities and Exchange Commission, according to the regulator's website. Capital One reported its stress capital buffer but did not mention dividends in the press release. —Pound 

7:49 am: Powell and Mnuchin to testify before the House Financial Services Committee

Federal Reserve chair Jerome Powell and Treasury Secretary Steven Mnuchin will testify before the House Financial Services Committee at 12:30 p.m. on Tuesday. The joint hearing will address the Fed and Treasury's response to the coronavirus pandemic. In remarks prepared ahead of the hearing, Powell said that despite a recent uptick in economic activity as lockdown measures are eased across the world's largest economy, the outlook is "extraordinarily uncertain" and will rely on both containing the virus and government support for the recovery. "A full recovery is unlikely until people are confident that it is safe to reengage in a broad range of activities," Powell said. "The path forward will also depend on the policy actions taken at all levels of government to provide relief and to support the recovery for as long as needed." –Li

7:46 am: Wells Fargo down, other banks move higher following capital plan announcements

7:38 am: Biden tells donors he will scrap most of Trump's tax cuts

7:35 am: Market's month & quarter in review

It's the final trading day of June, and the final trading day of the second quarter. Here's where the market stands.

• The Dow is up 0.84% this month, on pace for its third positive month in a row
• The Dow is up 16.78% this quarter, on pace for its best quarterly performance since the fourth quarter of 1998 when it gained 17.07%, and fifth positive quarter in six
• For the first half of 2020 the Dow is down 10.31%
• The S&P 500 is up 0.29% this month, on pace for its third positive month in a row
• The S&P is up 18.13% this quarter, on pace for its best quarterly performance since the fourth quarter of 1998 when it gained 20.87%, and fifth positive quarter in six
• For the first half of 2020 the S&P is down 5.5%
• The Nasdaq Composite is up 4.05% this month, on pace for its third straight positive month
• The Nasdaq Composite is up 28.23% this quarter, on pace for its best quarterly performance since the fourth quarter of 2001 when it gained 30.13%, and second positive quarter in three
• The Nasdaq Composite is up 10.05% for the first half of 2020
• The Russell 2,000 is up 1.95% this month, on pace for its third positive month in a row 
• The Russell 2,000 is up 23.25% this quarter, on pace for its best quarterly performance since the first quarter of 1991 when it gained 29.37%, and second positive quarter in three
• The Russell 2,000 is down 14.82% this year    
• Seven out of 11 sectors are negative for June, led to the downside by utilities. Tech is the best performer
• All 11 sectors are positive for the quarter, led by consumer discretionary, which is up 30.32% and on pace for its best quarterly performance ever
• For the year, nine out of 11 sectors are negative, led to the downside by energy, which has shed 38.38%. Tech is the top performer after gaining 12.06%. – Hayes, Stevens

7:30 am: Micron shares jump after earnings

Micron traded more than 5% higher in the premarket after the chip manufacturer posted better-than-expected results for the previous quarter. The company posted an adjusted profit of 82 cents per share, topping a Refinitiv estimate of 77 cents. Revenues rose to $5.44 billion, beating an estimate of $5.31 billion. Micron also issued better-than-expected revenue guidance for the current quarter. —Imbert

7:25 am: China says its manufacturing sector expanded in June

Chinas's official Purchasing Manager's Index came in at 50.9 for June, beating expectations and showing a growing sector. The expectation was for a reading of 50.4, according to economists polled by Reuters. In PMIs, readings above 50 represent expansion. A private survey PMI from Caixin and IHS Markit is scheduled to be released later this week. — Pound, Tan

7:20 am: FedEx rises ahead of earnings

Shares of FedEx rose 1% in premarket trading as the company prepares to release its fourth quarter earnings results after the market closes on Tuesday. According to consensus estimates from FactSet, analysts are expecting the company to earn $1.58 per share on $16.41 billion in revenue. In a recent note to clients UBS said it's expecting a "very weak" report for the shipping company, although the firm still has a buy rating on the stock.  "FDX's potential for multi-year margin improvement and EPS growth can make it attractive to investors," UBS said. Shares of FedEx are down 11% this year. – Stevens 

7:20 am: Stock futures flat

Stock futures pointed to a flat open in early trading Tuesday following a strong rally in the previous session. Futures on the Dow Jones Industrial Average futures dipped 40 points, implying a loss of 10 points at the open. S&P 500 and Nasdaq-100 futures traded just below the flat line. Tuesday's session marks the last day of June and the second quarter. Investors will monitor Federal Reserve chair Jerome Powell and Treasury Secretary Steven Mnuchin's testimony before the House Financial Services Committee at 12:30 p.m.— Li

— CNBC's Fred Imbert, Christopher Hayes, Thomas Franck, Al Lewis and Huileng Tan contributed reporting.

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