Morning Dose: Tentative Start Tariff Uncertainty & Global Slowdown
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! It’s Tuesday, June 3rd, 2025. The market seems to be facing a little bit of early pressure this morning. Futures on the S&P 500 are trading about ten points below fair value. Analyst, what’s the vibe?
Overnight Headlines
Good morning! Yeah, it’s a bit of a cautious start. We saw that nice intraday recovery yesterday, but this morning feels a bit more tentative. The Trump administration extended the tariff pause on some Chinese goods until the end of August, maintaining uncertainty. Data from China showed a contraction in Caixin Manufacturing PMI, while the Eurozone’s CPI decelerated, likely leading to an ECB rate cut. The OECD has cut global growth forecasts, notably for the U.S.
Economic Announcements
Today’s calendar includes April Factory Orders and JOLTS report at 10:00 AM Eastern. Treasuries are holding modest gains with the 10-year yield down about four basis points at 4.42%.
Earnings Highlights
- Dollar General (DG) beat Q1 expectations and is up 10.8% in pre-market trading.
- Signet Jewelers (SIG) raised guidance for fiscal ’26 and is up around 13%.
- Credo Technology (CRDO), Donaldson (DCI), Ferguson (FERG), and Ollie’s Bargain Outlet (OLLI) all posted positive surprises.
Top Movers
MoonLake Immunotherapeutics (MLTX) soared 23.4% on acquisition talks, while Trevi Therapeutics (TRVI) is down 4.8% on a public stock offering.
Quick Trade Ideas
- Continuation plays on Broadcom (AVGO) and Intuitive Surgical (INTU) show strength.
- Anticipation setups on U.S. Steel (X) and FICO could provide breakout opportunities.
Key Takeaway
Market sentiment is mixed with caution due to global uncertainties. Focus on tech and energy sectors, monitor SPY and QQQ levels, and stay nimble to manage risks effectively.
Have a profitable trading day, everyone!