Morning Dose: Trump’s Tariff Threat Sends Markets Tumbling
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Good morning, traders, and welcome to The Morning Dose – Everything You Need to Know Before the Market Opens. Today, we’re looking at a rocky start this Friday, May 23rd. Futures are indicating potential volatility ahead.
Overnight Headlines
- President Trump’s comments on a potential fifty percent tariff on E.U. imports have rattled markets, with S&P 500 futures trading lower.
- Asian markets closed mostly higher, while European markets show a mixed picture.
Economic Announcements
Key economic data includes Japan’s National Core C.P.I., Germany’s G.D.P., and the U.K.’s strong retail sales report. In the U.S., keep an eye on New Home Sales data.
Earnings Highlights
- Winners: Autodesk (ADSK) and Intuit (INTU) beat expectations.
- Losers: Deckers Outdoor (DECK) and Ross Stores (ROST) faced challenges.
Top Movers
- Up: Merus (MRUS), ASP Isotopes (ASPI), Intuit (INTU), Autodesk (ADSK)
- Down: BCAX, GYRE, Xerox (XRX), Workday (WDAY)
Quick Trade Ideas
Focus on stocks with confirmed momentum and relative strength amid market uncertainty. Keep an eye on Snowflake (SNOW), CarParts.com (CTGO), and Adobe (ADBE).
Key Takeaway
Market sentiment is cautious with heightened volatility. Watch critical support levels on SPY and QQQ. Use tight stops, monitor volume, and be prepared for continued market jitters.