Jun 27 2025

 

🧾 Macro Data Highlights (PCE Inflation Report – May):

• Personal Income: ↓ 0.4% (vs. +0.3% expected)

• Personal Spending: ↓ 0.1% (vs. +0.2% expected)

• Headline PCE Inflation:

  • +0.1% MoM, +2.1% YoY (better than expected 2.3%) ✅

• Core PCE Inflation:

  • +0.2% MoM (vs. +0.1% expected)

  • +2.7% YoY (vs. 2.6% expected) ❗

🔎 Mixed report: Headline PCE was cooler, but core inflation came in slightly hot.

---

💵 Market & Asset Reaction:

• 10-Year Treasury Yield: Holding at ~4.27% (well off recent highs of 4.6%+)

• Rate Cut Outlook: Markets still pricing two Fed rate cuts by year-end.

• Gold & Silver:

  • GLD (Gold ETF): ↓ 2.3%

  • SLV (Silver ETF): ↓ 2.3%

---

📈 Company Earnings & Stock Moves

1. Nike (NKE):

   • 📈 +11% post-earnings

   • EPS: $0.14/share (down significantly)

   • Revenue: ↓ 12% (but slightly beat estimates)

   • Margins: ↓ 4.4 percentage points

   • ⚠ Facing $1B in tariff-related costs, 16% of footwear made in China

   • 💬 New CEO: “We are in a fight in every sport we’re in.”

   • ✅ Strong early sales for “Bone Marrow 18” running shoe ($100M+)

2. Apogee Enterprises (APOG):

   • Reported $0.56 EPS, $346M revenue

   • 📉 Stock weak despite earlier pre-market strength

   • Relative Strength Rating: 8 (very low)

3. Concentrix (CNXC):

   • 📉 Down ~7% after hours

   • Sales up slightly, but flat earnings

   • Weak growth outlook

4. Core Scientific (CORZ):

   • 🚀 Up sharply on acquisition rumors by CoreWeave (CRWV)

   • WSJ reports merger talks are underway

5. Pony.ai:

   • 🧠 Robo-taxi company with U.S. unit

   • Reports suggest Travis Kalanick-led group may fund acquisition of its U.S. assets

   • Uber possibly involved in funding — Uber stock ↓ 1.3%

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🔄 Market Sentiment

• NASDAQ 100 (QQQ): Heading into a 5th straight up day

• Tone: Mixed fundamentals but strong technical setup

• Analysts see strength in the index-level “cup with handle” breakout pattern, suggesting potential for continued rally despite bearish sentiment in headlines.

Jun 25 25

 📈 Morning Market Recap Summary (8:27 – 8:33 a.m.)

🪙 Commodities & ETFs

• Gold: Flat around $2,333/oz; GLD gapped down Tuesday, testing its 50-day moving average.

• IBIT (Bitcoin ETF): Up 2% pre-market after testing 50-day on Monday, following Bitcoin higher.

🏠 Economic Data

• May new home sales data due at 10 a.m. ET.

💼 Earnings Movers

• AeroVironment (AVAV): Earnings +247% YoY, revenue +40%. Despite soft full-year guidance, stock gapping up—possibly due to drone contracts (Israel, Ukraine).

• Worthington Enterprises (WOR): Up nearly 20% pre-market after earnings/revenue beat.

• Paychex (PAYX): Down ~3% after slightly missing revenue; near 200-day MA.

• FedEx (FDX): Down 5% despite EPS/revenue beat; weak guidance overshadows $4B in cost cuts.

• Rubrik (RBRK): Up 1% after announcing plans to acquire AI model deployment firm (possible $500M deal).

• Yum! Brands (YUM): Up 1.5% on JPMorgan upgrade (cites strong free cash flow).

• Coinbase (COIN): Up 5% after Bernstein raises PT from $310 → $510.

• Robinhood & Futu (HOOD, FUTU): Both trading up sharply; FUTU up 6%, possibly breaking out with no obvious news.

💻 Upcoming

• Micron (MU) reports earnings after the close. Stock and SMH (semis ETF) broke out Tuesday.

📊 Market Sentiment

• NASDAQ crosses 20,000.

• Rally leaders: Netflix, Nvidia, Microsoft, Meta, Palantir, Spotify.

• Trader focus shifting to newer ideas like OLLI (Ollie’s), PLNT (Planet Fitness).

• Notable short: Lilly (LLY).

Jun 24 2025

🌐 Macro Headlines:

• Middle East Ceasefire: Declared by Trump (Iran–Israel); still some missile activity post-announcement.

• Market Reaction: Optimistic.

  • S&P Futures: +0.8%

  • Dow Futures: +0.8% (above 200-DMA)

  • 10-Year Treasury Yield: 4.36% (+4 bps)

  • Crude Oil: Down sharply (–8% yesterday, –5% pre-market)

  • Gold & Silver: Down 2%

  • Natural Gas: $3.61/MMBtu, –2%

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🚢 Cruise Stocks Rallying:

• Carnival (CCL): +5% pre-market (expected EPS: $0.24, up from $0.11 YoY; revs $6.21B)

• Royal Caribbean (RCL): +2%

• Norwegian (NCLH): +3%

• Viking: +1.2%
  Drop in oil = tailwind for cruise lines.

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✈️ Airlines Up:

• United (UAL): +3.6%

• American (AAL): +3%

• Alaska Air (ALK): +2%

---

💡 Stock-Specific News:

• Chewy (CHWY): –1.5% on $1B share offering.

• EQT: Highlighted in Barron’s Energy Insider.

• Snowflake (SNOW): +2% after Morgan Stanley upgrade (Overweight).

• AMD: Price target raised to $175 (from $110) by Melius; MI350 chips could add $20B in GPU sales by 2028.

---

📊 Technical Outlook:

• S&P 500 forming a cup-with-handle pattern.

• Watch 5367.8 as key resistance level.

• SPY: +0.7%, lower RS than QQQ.

• IWM (Russell 2000): Still lagging, but also rising.

 

Market Overview:

• Futures: Mixed and mostly unchanged; small caps slightly down (~0.3%).

• Oil: Initially up over the weekend, now down 0.5% at ~$73.50/barrel.

• 10-Year Treasury Yield: Down 3 basis points to ~4.35%.

---

Geopolitical Tension:

• U.S. bombed 3 Iranian nuclear sites using bunker-busters and Tomahawks.

• Iran's Parliament approved closing the Strait of Hormuz, a vital global oil route, but it still needs higher approval.

---

Notable Stock Movers:

• Chevron: Leading gains in the Dow.

• NVIDIA: Lagging slightly.

• Apple: Slight uptick amid internal talks of bidding for Perplexity AI; Meta also reportedly interested.

• Tesla: +1.5% pre-market after Robotaxi launch in Austin for $4.20/ride.

• Hims & Hers: -20% after Novo Nordisk terminated partnership, accusing it of selling knockoffs of Wegovy.

• Novo Nordisk (NVO): -5% after disappointing trial results for new obesity drug.

• Exelixis (EXEL): +20% on positive Phase 3 colorectal cancer drug results.

• Cidara Therapeutics (CDTX): +100% on successful Phase 2 flu treatment data.

• Northern Trust (NTRS): +6% after BNY Mellon approached about merger (reportedly declined).

• Fiserv (FI): +6% on news of launching a stablecoin and digital asset platform, partnered with Circle and PayPal.

• DoorDash (DASH): +2.5% after Raymond James price target raised from $215 to $260.

• AMD: +2% after Melius Research raised price target to $175 from $110.

• Supermicro (SMCI): -3% after announcing a $2B debt offering.

• Estee Lauder (EL): +2% following Deutsche Bank upgrade to Buy.

---

Earnings to Watch:

• Tuesday (Pre-Market): Carnival (CCL)

• Tuesday (After Close): AeroVironment (AVAV) – key drone supplier to Ukraine & Israel

• Wednesday (After Close): Micron (MU) – stock has rallied in anticipation

 

Jun 20 2025

 

Market Status

• NASDAQ 100 (QQQ): Off to a good start.

• S&P 500 (SPY): Futures indicate a 0.4% rise.

• Treasury Yield: At 4.42%.

• Silver: Pulling back, down over 2%.

• Crude Oil: Around $73.26/barrel, slightly down.

🧾 Economic Data

• Philly Fed Manufacturing Index: Came in at -4.0 vs. expected -1.0, indicating weaker regional activity.

💼 Earnings Reports

• CarMax (KMX):

  • EPS: $1.38 (beat estimates by $0.17)

  • Revenue: $7.55B

  • Units Bought: 336,000 vehicles (+7%)

• Darden Restaurants (DRI):

  • EPS: $2.58 (down YoY)

  • Revenue: $3.3B (+10%)

  • Longhorn Sales: +6.7%

  • Buyback Plan: $1B

  • Dividend Raised

• Accenture (ACN): Stock down 7% pre-market due to 6% drop in bookings.

Jun 17 2025

 

Market & Economic Update Summary – June 17, 2025

• Market Movement:

  • After Friday’s 1.1% drop in the S&P 500, markets are rebounding.

  • Small-cap stocks are leading, up ~0.9%. Broader market up ~0.6–0.7%.

• Geopolitical Tensions:

  • Ongoing conflict between Israel and Iran.

  • Israel expanded strikes to Iranian energy infrastructure and Houthi militia leaders in Yemen.

  • Despite this, oil prices fell 2% to ~$75/barrel.

• Sectors & Stocks:

  • Energy (XLE): Up 5.6% last week, testing the 200-day moving average.

  • Gold: Slightly down, ~$3,400/oz.

  • Cisco Systems: Up 2% after an upgrade by Deutsche Bank.

  • U.S. Steel: Up 5% after Trump approved its merger with Nippon Steel.

  • Tesla: Up 2%, launching robo-taxi service in Austin June 22.

  • Celsius: Up 5%, upgraded by TD Cowen.

  • Shopify: Rebounding after legal pressure and last week’s weak performance.

  • AMD: Up 2.5% after price target raised by Piper Sandler.

  • Circle (CRCL): Stablecoin issuer’s IPO surges 10%.

• Global & Economic Data:

  • China: May retail sales rose 6.4% YoY, beating expectations.

  • Fed Meeting This Week: No rate changes expected. Market unsure whether 1–2 cuts are coming later in 2025.

  • Upcoming Data:

    • U.S. May retail sales on Tuesday

    • Jobless claims Wednesday (early due to Juneteenth holiday Thursday

• Earnings Preview:

  • Quiet week.

  • Jabil (JBL) reports Tuesday; notable in AI hardware manufacturing.

  • Darden Restaurants (Olive Garden’s parent) to report later in the week.

June 13 2025

 

Main Market News & Headlines

• Markets Dropped overnight:

  • Nasdaq QQQ futures fell as much as 2.1%, now down about 1.2%.

  • S&P 500 and Dow futures also down ~0.9–1.2%.

• Cause: A surprise Israeli attack on multiple Iranian nuclear and military sites.

  • The strike aimed to neutralize Iran's nuclear capabilities.

  • According to the Wall Street Journal, Israel has planned 14 days of ongoing operations.

Sector & Asset Impact

• Oil spiked overnight:

  • Crude oil futures hit $77.62, up 14% intraday.

  • OIH (oil services ETF) up 4%; XLE (energy ETF) up nearly 3%.

• Defense stocks like Northrop Grumman (NOC) rose ~2%.

• Airlines dropped:

  • UAL, AAL, DAL were down on flight cancellations to the Middle East.

• Bitcoin fell to ~$100,400, down 1.8%.

• Gold surged 1.8% to $3,464/oz.

• Natural gas and silver also rose slightly.

---

Other Notable Business News

• Adobe earnings:

  • Beat by $0.08 per share.

  • Revenue guidance above expectations; stock down ~4–5% in premarket.

• Chime Financial (CHYM) IPO:

  • Priced at $27, peaked at $44.94 on day one—up 66%.

  • $1.8B in recent sales; profitable 2 of the last 4 quarters.

• Circle (CRCL) also recently IPO'd, still in post-IPO range.

• AMD Investor Day:

  • Announced new AI chips (MI400).

  • Confirmed collaboration with OpenAI.

Jun 11 2025

 

📊 Market Overview

• Markets are surprisingly strong after a recent reversal.

• S&P futures up 0.2%, NASDAQ/Dow up 0.3%.

• Russell 2000 (IWM) approaching key resistance.

• 10-year Treasury yield down to 4.43% from 4.47%.

🧾 Economic Data

• CPI: +0.1% MoM, +2.4% YoY — below expectations, showing tame inflation.

• Core CPI also +0.1%, holding steady at 2.8% YoY.

• PPI due Thursday, key for gauging Fed rate cut potential — market pricing in rate cuts later this year.

---

🚗 Company Highlights

• Shopify (SHOP) under watch.

• Gold (GLD): Bull put spread strategy discussed.

• Oracle earnings expected after market close.

---

🚘 Tesla

• Robotaxi service launch rescheduled to June 22.

• Musk: First ride from Austin factory on June 28.

• Musk also apologized for recent controversial posts.

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💼 Stock Movers

• OUST: Up on DoD approval of digital LiDAR for drones.

• Lockheed Martin: Down due to Air Force F-35 program uncertainty.

• GitLab: Beat earnings, weak guidance → stock down.

• Robinhood: Trading & crypto volume sharply higher YoY.

• Dave & Buster’s: Missed earnings, but CEO optimistic.

• Nintendo (Switch 2): 3.5M units sold in 4 days.

• GameStop: Beat EPS, missed on revenue → stock falling.

• I-R-E-N, Etsy, BTSG: Down on debt/share sale announcements.

• Chewy: Guided up but stock movement mixed.

• SailPoint: Beat earnings, guided up → stock rising

Jun 10 2025 Market Summary

 

📊 Markets Overview

• Small caps (IWM) outperforming; testing the 200-day moving average, up 0.5%

• Nasdaq-100 (QQQ): +0.2%

• S&P 500 (SPY) and Dow Jones: +0.1%

• Oil: ~$65.50/barrel

• Gold: ~$2,360/oz

• 10-year Treasury yield: ~4.45% (down 3 basis points)

🏦 Fed & Economic Outlook

• Fed meeting next week: No rate change expected

• Market expects 2 rate cuts, possibly starting in September

• NFIB Small Business Optimism Index: Better than expected at 98.8

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🔍 Stock Highlights

• Advanced Micro Devices (AMD): Under watch for potential turnaround

• Amer Sports (AS): 

• IREN +2.5%, CORZ +3%

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📈 Individual Stocks

• JP Morgan (JPM): Flat, despite a price target hike to $320 (Wells Fargo)

• Disney (DIS): Slight gain; completes Hulu purchase; price target raised to $130 (Loop Capital)

• McDonald’s (MCD): Down 1.5%; downgraded to Sell by Redburn Atlantic, PT cut to $260

• Apple (AAPL): Flat after WWDC; minor AI updates seen as underwhelming

• Tesla (TSLA): +2.5%, continuing Monday’s rebound; robo-taxi launch expected this week

• Taiwan Semi (TSMC): Strong May revenue (+39.6% YoY); Jan–May up 42.6%

• Meta (META): +1%; Zuckerberg reportedly building a team of 50 for Artificial General Intelligence (AGI)

• Uber (UBER): +1%; teams up with Wavy to roll out autonomous rides in the UK

• eToro: Releases unexpected earnings; adjusted EBITDA down, but funded accounts +14%, assets +21%

• Casey’s General Stores (CASY): +10% on strong earnings & revenue beat

• Insmed (INSM): +25% on positive Phase 2B data for inhaled drug treating pulmonary arterial hypertension

• JM Smucker (SJM): -7.5% after weak guidance and revenue miss

• Rubrik (RBRK): -4% after debt offering; falls below 21-day moving average

Jun 9 2025

📈 Market Overview

• Russell 2000 (small caps) is outperforming, up 0.8%.

• Broader market is flat to slightly higher.

• 10-year Treasury yield steady at 4.51% after Friday's spike.

• Oil up 0.7%, around $65/barrel.

• Gold slightly down, just below $33.50/oz (likely an error—actual gold is near $2,300).

• Bitcoin and IBIT ETF up 3%, showing potential breakout above $60 and 10-day moving average.

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🧠 Stocks in Focus

🔼 Up in Pre-Market

• Rocket Lab (RKLB): +5%, possibly benefiting from uncertainty around SpaceX due to Trump-Musk spat.

• IBIT ETF: +3%, rallying with Bitcoin.

• Circle (CRCL): Stablecoin issuer, +17%, third strong day after IPO.

• Merck (MRK): +1%, positive Phase III trial for cholesterol drug.

• WBD (Warner Bros Discovery): +7%, plans to split into two publicly traded companies.

• Etoro (ETOR): +3%, Goldman Sachs initiates with a buy and $76 price target.

• Walmart (WMT): Edging higher, named top consumer internet pick by Mizuho (target: $115).

🔽 Down in Pre-Market

• McDonald’s (MCD): -1%, downgraded by Morgan Stanley.

• Echostar (SATS): -10%, considering Chapter 11 bankruptcy (owns Dish, Boost, Sling TV).

• Tesla (TSLA): Under pressure, down after a 15% drop last week, downgraded by Baird; concerns over robo-taxi optimism and political tensions.

• Robinhood (HOOD): -3%, fell after not being added to the S&P 500.

• Applovin (APP): -3.5%, also not added to S&P 500 as rumored.

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📆 Upcoming Events

• CPI data: Wednesday

• Wholesale prices (PPI): Thursday

• Consumer Sentiment & inflation expectations: Friday (University of Michigan)

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🧾 Key Earnings This Week

• Tuesday (pre-market): Core & Main (pipe and valve supplier)

• Wednesday (early): Chewy (CHWY) – breakout stock

• Wednesday (late): Oracle – rallying with AI stocks

• Thursday: Adobe (ADBE) – in a recent downtrend

 

Jun 05

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📈 Market Overview

• Indexes Up Modestly:

  • S&P 500 (SPY): +0.3%

  • Dow: +0.2%

  • Nasdaq (QQQ): +0.3%

  • Russell 2000 (IWM): +0.1%

• 10-Year Treasury Yield: Flat at 4.36%

• Commodities:

  • Crude oil: +1%

  • Gold: Slightly up

  • Silver: Up strongly

  • Copper: Rising, near resistance

---

🧾 Economic Data

• Jobless Claims:

  • Initial: 247K (vs. 235K est.)

  • Previous: 239K
    → Continuing claims little changed

• Challenger Job Cuts:

  • Down 12% vs. April

  • Up 47% YoY

  • YTD layoffs: 284K (includes govt & contractors)

• JOLTS Preview (Friday):

  • Expected: 129K vs. April’s 177K

  • Jobless rate to remain at 4.2%

• Trade Deficit:

  • Dropped to $61.6B (vs. $118.1B est.; previous $138.3B)

  • Imports from China lowest since March 2020

• Productivity (Q1 Revised):

  • Down 1.5% (was -0.8%)

  • Unit labor costs up 6.6% (vs. 5.7% est.)

• ECB Cut Rates:

  • By 25 bps to 2.0% as expected

• Geopolitics:

  • Trump–Xi call helped boost futures (positive tone reported)

  • EU–US trade talks reportedly going well

---

🏢 Corporate Highlights

• Argan (AGX):

  • EPS beat by 176%, revenue up 23% → stock surged

  • CFO stepping down for personal reasons

• Costco (COST):

  • Core comps +6%, U.S. +5.5%, e-commerce +11.6%

  • Growth slowed from April

• Descartes Systems (DSGX):

  • Missed EPS & revenue → stock plunging

• Shift4 Payments (FOUR):

  • CEO Jared Isaacman stepping down (was once Trump’s NASA pick)

  • Taylor Lauber named successor

• Robinhood (HOOD):

  • May activity:

    • Equity volume +10%

    • Options +5%

    • Crypto +30%

• TradeWeb:

  • Daily volume +33% YoY

• Foxconn:

  • May revenue +11.9% YoY

• Circle (CRCL):

  • Raised $1.1B by selling shares at $31 each

• Ciena (CIEN):

  • EPS miss, slight revenue beat → stock volatile

• Winnebago (WGO):

  • Preliminary Q3 EPS & revenue well below expectations (after strong results from RevGroup & Thor)

• Cracker Barrel (CBRL):

  • EPS beat, slight revenue miss → stock within buy zone

• MongoDB (MDB):

  • Strong beat on EPS, 22% revenue growth

  • Raised FY EPS guidance

  • Announced $800M buyback (total now $1B)

• Planet Labs (PL):

  • Breakeven, beat revenue → stock skyrocketing

• CyberArk (CYBR):

  • Plans $750M convertible debt sale

• SanDisk (via Western Digital):

  • 17M shares being sold

• Suzuki:

  • Suspends subcompact production due to China rare earth export restrictions

• Tesla (TSLA):

  • Offers $1,100 discount in China via referral program

  • More incentives amid concerns about demand and political tensions

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🧾 Analyst Actions & Earnings Tonight

• CRM (Salesforce): Downgraded to Hold (ERST)

• AVGO (Broadcom): Upgraded to Buy

  • Key earnings after close: AVGO, Rubrik (RBRK), DocuSign (DOCU), Lululemon (LULU), ServiceTitan (TTAN)

 

Jun 04

 

Top Headlines

• Wells Fargo (WFC):
  Up 2%+ after the Fed removed asset growth restrictions from 2018. Stock may gap above $76.58.

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Earnings Winners

• Guidewire (GWRE):
  Up 14% on strong earnings and accelerating revenue. Gapped above $218.33 (alternate handle entry).

• HP Enterprise (HPE):
  Up 6%, despite weak RS rating of 29. Earnings and revenue beat, guidance raised (in line).

• HealthEquity (HQY):
  Up 5% after a cup-with-handle breakout. Earnings +21%, revenue +15% YoY.

• Rev Group (REVG):
  RV maker, gapping up on earnings after pulling back to the 21-day moving average.

• Thor Industries (THO):
  Also up on earnings, but not as strong as REVG.

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Earnings Losers

• CrowdStrike (CRWD):
  Down 7.5%. Earnings beat, but growth decelerated and revenue guidance slightly below. Could retest $451 buy point.

• Asana (ASAN):
  Down 10% despite earnings/revenue beat. Mixed analyst reactions.

• Constellation Energy (CEG):
  Down 3% after Citigroup downgrade. Stock had surged Tuesday on a 20-year nuclear deal with Meta, but deal is reportedly less lucrative than prior Microsoft one.

• D-Wave Quantum (QBTS):
  Down 2.5% after $400M stock/debt offering.

---

Other Movers

• Snowflake (SNOW):
  Up 2.5% after UBS and RBC upgrades, with price targets raised to $265 and $250, respectively.

• XP Inc. (XP):
  Brazil-based fintech, up 2.5% on Goldman Sachs upgrade to “Buy” with $23 target.

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Upcoming Earnings to Watch

• After close today:

  • Argan (AGX): Heavy construction leader.

  • Five Below (FIVE): Retail stock has doubled recently.

• Thursday after close:

  • Broadcom (AVGO), ServiceTitan (TTAN), Rubrik (RBRK), DocuSign (DOCU).

 

Market Overview (as of early morning)

• Futures: Mixed — Dow and S&P slightly down; Nasdaq 100 turned slightly up.

• Russell 2000 (IWM): Up ~0.5%.

• 10-Year Treasury Yield: Fell from 4.46% to ~4.43%.

• Gold: Down slightly after a large gain yesterday.

• Crude Oil: Up ~1%.

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Global & Macro

• OECD cuts global growth forecast to 2.9% (from 3.3%); U.S. forecast to grow 1.6% (vs. 2.8%).

• China's Caixin Manufacturing PMI fell to 48.3, lowest since Sept 2022.

• JOLTS Report (10 a.m. ET): Job openings expected at 7.1M.

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Major Stocks & News

• Meta: Flat; signed 20-year nuclear power deal with Constellation Energy (CEG up ~12%).

• Broadcom: Announced new data center chip; earnings later this week.

• Snowflake: Buying AI startup Crunched Data.

• Uber: Appointed COO for autonomous vehicle efforts.

• RTX: Secured $1.1B Sidewinder missile contract.

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Notable Movers

• Ferguson (FERG): Beat EPS/revenue; gapping up.

• Donaldson (DCI): Missed EPS, slight revenue beat; guiding higher.

• Dollar General (DG): Beat both metrics; rising back into buy zone.

• Ollie’s: Beat; volatile price action, now below 50-day line.

• Signet (SIG): Beat; shares jumping.

• Victoria’s Secret (VSCO): Delayed results due to IT issue; prelim numbers positive.

• Hims & Hers: Buying European health platform Zava.

• Applied Digital (APLD): Filed for shelf offering; stock spiked 48% yesterday.

---

Auto Sector

• Ford: May sales +16%; hybrids up 29%, EVs down 25%.

• NIO: Missed earnings, guided lower.

• Tesla: Included in China’s rural EV campaign.

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M&A & Strategic Moves

• Viper Energy (VNOM) to acquire Sitio Royalties (SITR) for $4.1B in all-stock deal.

• Skyward Insurance (SKWD): Launching aviation underwriting unit.

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Upgrades/Downgrades

• Pinterest: Upgraded at JPMorgan (PT to $40).

• ASML: Downgraded at Barclays.

• Netflix: PT raised to $1,400 at Jefferies.

• Block (SQ): Upgraded at Evercore.

• CrowdStrike: PT raised ahead of earnings after close.