Morning Dose: Futures Soaring Trump’s Trade Talks Thrill Market
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Welcome to The Morning Dose – Everything You Need to Know Before the Market Opens. Futures are soaring this morning with Trump easing his stance on China trade talks, sparking a massive relief rally across the board. S&P futures are up 125 points, Nasdaq up 504 points, and the Dow up 685 points, showcasing infectious positive momentum.
Overnight Headlines
Mega-caps and tech are leading the charge, with Tesla seeing a 7% increase pre-market despite missing on earnings. Trump’s comments on not firing Powell and easing trade tensions are considered game-changing, reflected in the sharp drop in Treasury yields.
Economic Announcements
Companies like SAP, Boeing, GE Vernova, and Philip Morris have beaten expectations, contributing to the overall bullish sentiment. However, Enphase Energy and others are down pre-market. European PMI numbers, US Manufacturing and Services PMIs, New Home Sales, and Crude Oil Inventories are key data to watch for potential shifts.
Earnings Highlights
- Tesla (TSLA): Up over 7% pre-market.
- SAP: Beat expectations.
- Boeing (BA): Beat expectations.
- GE Vernova: Beat expectations.
- Philip Morris (PM): Beat expectations.
Top Movers
- Enphase Energy: Down over 11% pre-market.
- Packaging Corp: Gapping down.
- Bristol Myers Squibb: Gapping down.
Quick Trade Ideas
Consider looking for entries on dips in tech and mega-caps like SAP, Boeing, and Tesla. Exercise caution with gapping up names and monitor support levels closely to prevent potential breakdowns. Keep an eye on McDonald’s (MCD) as well.
Key Takeaway
Stay vigilant with risk management amidst the bullish sentiment. Watch closely for economic data releases and trade opportunities while maintaining a cautious approach in a dynamic market environment. Have a profitable day!