Tom White

Host

U.S. stock futures dipped ahead of Wednesday's opening bell as investors braced for President Trump’s highly anticipated announcement on trade policies, dubbed ‘Liberation Day,’ set to be unveiled at 4 PM ET from the White House Rose Garden. The speech, scheduled after the market close, will detail new tariffs expected to take effect immediately, adding to uncertainty that has fueled wild swings in stocks and heightened volatility in recent weeks.

Tuesday saw another choppy session, with equities rallying late to push the S&P 500 up nearly 0.4% by the close. Beyond the tariff news, investors are also eyeing fresh economic data, with the ADP private payrolls report due to shed light on the labor market’s health. The combination of trade policy shifts and jobs figures has markets on edge as Wall Street navigates an unpredictable landscape.

Snapshot (as of 7 AM ET)

Oil (/CL) – Oil prices are down 0.5% near $71 a barrel after hitting 5-week highs in the previous session.
Gold (/GC) – Gold prices are up 0.4% near $3150 after hitting an all-time high on Tuesday.
Bitcoin (/BTC) – The crypto futures are flat around $85K.
VIX – The CBOE Volatility Index is up 6% to the 23 level in anticipation of tariff announcements.
U.S. Dollar (/DX) – The dollar is flat around 103.8.

Biggest Premarket Movers (Mark % Change as of 7 AM ET)

Domino’s Pizza (DPZ): +0.54%
Biogen (BIIB): +0.36%
Kroger (KR): +0.26%

Tesla (TSLA): -2.67%
Palantir (PLTR): -2.44%
Super Micro (SMCI): -2.43%

Economic Data

7:00AM ET: MBA Mortgage Applications
8:15AM ET: ADP Employment Report
10:00AM ET: Factory Orders
10:30AM ET: Oil Inventories
11:30AM ET: 4-Month Bill Auction
4:30PM ET: Fed’s Kugler Speaks

Notable Earnings

Premarket: BB, CGNT, UNF
Postmarket: RH
Premarket Tomorrow: AYI, CAG, LW, MSM
Postmarket Tomorrow: GES

Upgrades/Downgrades

Daiwa upgrades Broadcom (AVGO) to Buy from Outperform
Keefe Bruyette upgrades Rocket Companies (RKT) to Market Perform from Underperform
Goldman Sachs upgrades Fiserv (FI) to Buy from Neutral
Deutsche Bank downgrades Paramount (PARA) to Hold from Buy
Raymond James downgrades Truist Financial (TFC) to Market Perform from Outperform
Goldman Sachs downgrades nCino (NCNO) to Neutral from Buy

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Data contained herein is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. All events and times listed are subject to change without notice.