Morning Watchlist: Can Monday Rally Continue?
2 min read
U.S. Stock Futures are relatively flat in premarket trading after a massive broad-based rally on Monday. The moves come after the S&P 500 (SPX) jumped nearly 1.8% yesterday while the tech-heavy Nasdaq-100 (NDX) jumped 2.16%. Stocks continue to react to headlines but optimism won on Monday on the hopes that tariffs will be more targeted and narrower in scope. Investors will continue to react to tariff headlines along with data today, which includes Consumer Confidence and New Home Sales.
Snapshot (as of 7 AM ET)
- Oil (/CL) – Oil prices are up 0.5% near $69.50 a barrel and are higher for a fifth consecutive day on concerns global supply will tighten after the U.S. announced additional 25% tariffs on countries that buy Venezuelan crude.
- Gold (/GC) – Gold prices are up 0.4% near $3030 amid persistent uncertainty over impending reciprocal U.S. tariffs and their impact on the global economy.
- Bitcoin (/BTC) – The cryptocurrency is down over 1% near $87.5K
- VIX – The CBOE Volatility Index has continued to fall and is a little above 17.
- U.S. Dollar (/DX) – The dollar is down slightly around 103.5.
Biggest Premarket Movers (Mark % Change as of 7 AM ET)
- Pentair (PNR): +1.84%
- CrowdStrike (CRWD): +1.72%
- Tesla (TSLA): +1.50%
- American Electric Power (AEP): -1.76%
- Altria (MO): -1.73%
- Crown Castle (CCI): -1.26%
Economic Data
- 8:40AM ET
- Fed’s Kugler Speaks
- 9:00AM ET
- Case-Shiller Home Price Index
- FHFA House Price Index
- 9:05AM ET
- Fed’s William Speaks
- 10:00AM ET
- Consumer Confidence
- New Home Sales
- Richmond Fed Mfg. Index
- 1:00PM ET
- 2-Year Note Auction
Earnings
- Premarket: CSIQ, MKC, PONY
- Postmarket: GME, WOR
- Premarket Tomorrow: DOOO, CHWY, CTAS, JKS, PAYX, TTAM
- Postmarket Tomorrow: FUL, JEF, MLKN, WOOF, SCS, VRNT
Upgrades/Downgrades
- BTIG upgrades CrowdStrike (CRWD) to Buy from Neutral
- BofA double upgrades Cloudflare (NET) to Buy from Underperform
- Morgan Stanley upgrades Carvana (CVNA) to Overweight from Equal Weight
- BTIG downgrades Ally Financial (ALLY) to Sell from Neutral
- Mizuho downgrades EOG Resources (EOG) to Neutral from Outperform
- HSBC downgrades Alcon (ALC) to Hold from Buy
Charles Schwab and all third parties mentioned are separate and unaffiliated, and are not responsible for one another's policies, services or opinions.
