Senate Set to Vote on the 'Big Beautiful Bill'
U.S. stock futures are slightly lower ahead of the Wall Street open after the S&P 500 and Nasdaq-100 settled at fresh record highs. June was a positive month for equities with the SPX up nearly 5% and the NDX higher by more than 6%. Even with the rally, there may be headwinds on the horizon with the ‘Big Beautiful Bill’ and trade deadlines due over the next week or so. Investor focus today will be on Manufacturing data and Job openings along with any comments from Fed Chair Powell at a speech in Portugal.
Snapshot (as of 7 AM ET)
- Oil (/CL) – Oil prices are up 0.8% near $65.50 a barrel, despite expectations of an OPEC+ output hike in August and concerns of an economic slowdown driven by prospects of higher U.S. tariffs.
- Gold (/GC) – Gold are up 1.5% near $3360, supported by a weaker dollar and heightened uncertainty over U.S. President Donald Trump’s tariff policies ahead of the July 9 deadline, driving investors toward safe-haven assets.
- Bitcoin (/BTC) – The Crypto Future is down over 1% below 107K in the premarket.
- VIX – The CBOE Volatility Index rose 4% on Monday and settled at 17.10 despite stocks finishing higher. It was the lowest closing price for the VIX since February 20th on Friday.
- U.S. Dollar (/DX) – The dollar is down -0.4% at about 96.46
Biggest Premarket Movers
Symbol Product Mark % Change (as of 7 AM ET)
WYNN Wynn Resorts +5.06%
LVS Las Vegas Sands +4.57%
HAS Hasbro Inc +1.82%
TSLA Tesla -5.75%
COIN Coinbase Global -2.71%
ADM Advanced Micro Devices -1.99%
Economic Data
Time- Event
9:30 AM ET- Fed’s Powell Speaks
9:45 AM ET- PMI Mfg. - Final
10:00 AM ET- ISM Mfg. Index
Construction Spending- JOLTS
Notable Earnings
Premarket- None
Postmarket- None
Premarket Tomorrow- None
Postmarket Tomorrow- STZ
Upgrades/Downgrades
- Raymond James upgrades Hyatt (H) to Strong Buy from Market Perform
- Argus upgrades Nike (NKE) to Buy from Hold
- Goldman Sachs upgrades Hasbro (HAS) to Buy from Neutral
- TD Cowen downgrades Sweetgreen (SG) to Hold from Buy
- Goldman Sachs downgrades Textron (TXT) to Neutral from Buy
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