APR 30 2025

 Market Summary (Morning Update):

• Stock Futures Drop:

  • NASDAQ 100: -1.9%

  • Small Caps (IWM): -1.6%

  • S&P 500: -1.3%

  • Dow: Down <1%, supported by Caterpillar's strong earnings.

• Economic Data:

  • Q1 GDP (1st estimate): -0.3% (vs. expected +0.2%)

  • PCE Price Index: +3.6% (hotter than expected, raises stagflation fears)

  • ADP Jobs Report: 62,000 jobs added (vs. 125,000 expected)

  • Upcoming at 10 AM ET: Personal income & core PCE report

• Markets React:

  • 10-Year Treasury Yield: Rises to 4.21%

  • Crude Oil: Down 1%

  • Gold: Down 1%, near $3,300

• Notable Earnings:

  • Caterpillar (CAT): Revenue down 10%, but stock up 2%

  • Visa: Mixed; revenue and volumes up, $30B buyback announced

  • Booking (BKNG): Beats expectations, but stock down 3%

  • Stride (LRN): Up 2%, strong revenue/enrollment

  • Gene DX (WGS): Strong results, but stock falls premarket

  • Tradeweb (TW): EPS up 21%, stock down

  • Supermicro (SMCI): Weak guidance, dragging down AI stocks like NVIDIA (-4%)

  • Starbucks: Down 10%, big earnings miss, margins fall

  • Tesla: Down 4%, possibly due to Waymo–Toyota partnership news

• After-Hours Earnings to Watch:

  • Meta, Microsoft, Robinhood (HOOD), Sprouts (SFM), Wayfair (WAY)