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.

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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.