May 8

Market Summary: Indexes: Major indexes are up: S&P Futures +0.8%, Dow +0.6% (approaching 50-day line), QQQ (Nasdaq-100) +1.5% (near 200-day), IWM (Russell 2000) +1.2% (above 50-day). Treasury Yield: 10-year yield at ~4.3% (+2–3 bps). Key News: Trump-UK Trade Deal: Trump to announce a "comprehensive" trade deal with the UK, likely a limited framework mainly around autos. Possible continued 10% tariff. EU may retaliate via WTO. Bank of England: Cut rates by 25bps to 4.25% as expected. US Data: Jobless claims: 228K (better than expected). Productivity: -0.8% (weaker than -0.5% expected). Unit labor costs: +4.7% (below 5.2% forecast). Earnings: Winners: Cato Libre, Carvana, AppLovin, Dave, Lifetime Fitness, Sezzle, Rally, Axon – all beat expectations with strong revenue gains. Mixed: Shopify, ARM, Adma, ArgenX – beat on EPS or revenue but disappointed elsewhere. Losers: Fortinet, Peloton, Cleveland Cliffs, Flutter, QSR – missed on revenue or guidance, some with declining fundamentals. Other Highlights: Instacart CEO leaving for OpenAI (remains chair). Coin acquiring Deribit (crypto options platform). Transportation Secretary to propose modernizing air traffic control. Google responds to Apple’s claim about declining Safari search traffic, cites rise in overall queries (Gemini use increasing). Market Sentiment: A bullish reversal pattern seen: two down days followed by a strong up day—potential swing trading signal. Still, resistance levels remain; cautious optimism with emphasis on risk management. Company Ticker Price (USD) Change (%) Highlights MercadoLibre MELI 2,439.47 +7.8% Strong earnings beat; revenue growth Carvana CVNA 275.06 +6.0% 38% revenue gain; nearing old buy point AppLovin APP 347.46 +16.6% Beat views; bullish guidance Dave Inc DAVE 134.00 +25.1% 47% revenue growth; breakout Sezzle SEZL 66.87 +27.1% 123% revenue gain; raised guidance Axon Enterprise AXON 670.56 +12.6% Beat views; raised full-year revenue guidance 📉 Top Losers Company Ticker Price (USD) Change (%) Highlights Fortinet FTNT 96.90 -8.6% In-line revenue; guidance slightly light Peloton PTON 6.28 -10.9% Wider-than-expected loss; revenue gain Cleveland-Cliffs CLF 7.71 -7.9% Larger-than-expected loss; idling plants ArgenX ARGX 570.00 -8.3% Beat EPS; missed revenue Adma Biologics ADMA 21.67 -7.3% Missed revenue; guidance raised