Wall Street

S&P Futures are trading lower this morning. There are news reports indicating that Isreal is preparing to launch a strike on Iran. In March, President Trump gave Iran a 60-day deadline to reach a deal, that deadline has passed. House Republicans appear close to passing their reconciliation bill, The Senate will likely make changes to the bill. If the bill passes in the House and Senate, it will likely be a negative for markets as it will increase the deficit. Yesterday, President Trump unveiled a missile defense plan, LHX shares are higher. Medtronic plans to separate its diabetes business into a stand-alone company. Take Two announced a $1 Billion stock offering. KEYS, BIDU, & LOW are higher after earning announcements. After the bell today SNOW, ZM and URBN are set to report. On Thursday morning ADI, BJ & RL will repor

S&P Futures are trading lower this morning as the markets showing concern on the U.S. fiscal policy with President Trump’s tax bill in focus. This morning, President Trump is scheduled at the House GOP Conference Meeting in an attempt to unify Republicans behind his sweeping tax and spending bill. His visit comes at a pivotal moment, as GOP leaders face significant internal divisions over the bill’s provisions and its impact on the national deficit. Several fed members are schedule to speak this morning, odds of the next rate cut are being pushed back to Sept. HD, BILI & PONY are displaying gains this morning after earning announcements. After the bell today KEYS and PANW will be releasing. A host of retailors are scheduled to report earnings tomorrow morning including TJX, TGT & LOW.

S&P Futures are weakening this morning in a reaction to Moody’s lowering its credit rating on the U.S after markets closed on Friday. The downgrade was not unexpected as Fitch and S&P have already lowered their ratings. President Trump’s sweeping tax-cut bill advanced through the House Budget Committee on Sunday night, overcoming a major hurdle after days of internal Republican disputes. Also, President Trump is scheduled to hold a call today with Russian President Putin today at 10:00 am to discuss a path forward to end hostilities with Ukraine. The key economic event in the week ahead will be the release of S&P Global manufacturing and services PMIs, along with data on existing and new home sales. Upcoming earnings reports from Target, Home Depot, and Lowe’s will be closely watched for how these major retailers are adapting to the evolving tariff landscape and broader economic headwinds.

S&P Futures are positive this morning on the prospect of additional trade deal to be announced. President wraps up his Middle East tour today. He has indicated that the UAE will invest in US produced semiconductors, he also indicated that the U.S. will set tariff rates for its trading partners within the next few weeks. Housing data is in focus this morning along with the U of M Consumer Sentiment report. WMT has indicated that it will start to raise prices due to the additional cost associated with the Trump tariffs. Charter Communications and Cox Communications are set to merge. Boeing gets another plane order from Etihad Airways for 28 planes valued at $14.5B. AMAT, TTWO & CAVA are lower after earnings announcements. Next week HD, PANW, TGT, TJX, LOW, SNOW, DECK, ADSK & INTU are scheduled to report.

S&P Futures are displaying strong gains this morning as markets react to the latest news on the U.S. and China trade talks. The U.S. & China will be lowering tariffs by 115% for the next 90 days and agreed to continue trade talks. Healthcare stocks are weakening as President Trump is expected to sign an executive order on drug pricing today. Defense stocks are on watch as Russia and Ukraine appear ready for peace talks. House Republicans have released a new plan to cut Medicaid spending, opting for a compromise approach after internal debate between party centrists and hardliners. the House GOP plan represents a significant but less extreme reduction in Medicaid spending, shaped by intraparty negotiations and concerns over the potential impact on vulnerable populations. Earnings season remains in focus, with major reports due out this week from Cisco, Tencent, Alibaba, SoftBank, Walmart, and Target. 

S&P Futures are positive higher this morning. Trade talks between the U.S. and China this weekend are in focus. President Trump indicated a major announcement this weekend and indications are that the White House will be lowering its tariffs on China, but they will likely remain elevated. Interesting data point were the figures on China exports which came in positive by 1.8% for April. Apparently, goods were rerouted to various Asian countries and away from the U.S. as exports to the U.S. tumbled. The Trump administration is likely to rescind some of the Biden-era AI chip curbs. Fed Speak highlights the economic calendar today as there are a host of Fed officials scheduled to talk today. Fed governor Adriana Kugler spoke this morning and indicated that unemployment at 4.2% is likely near the Fed’s maximum unemployment goal. On the earning front, MCK, NET, DKNG, TKO, TTD, PINS & MCHP are higher after their earnings announcements.

S&P Futures are seeing a strong move higher this morning as President Trump is expected to announce the framework of trade agreement with the U.K. this morning. The UK deal is widely seen as the easiest to secure, given the close economic and cultural ties between the two countries and their nearly balanced trade flows. In Fed Chairman Jerome Powell’s press conference yesterday, he was cautious on the state of the economy due to the latest confidence data and indicated that the Fed will need more data before taking any monetary policy action. COST reported strong April sales data last night. Key economic data point for today is this morning Jobless Claims report, estimates are for the number to come in at +230k. On the earning front, APP, BUD, CVNA are higher after their earnings announcements, ARM and FTNT are lower. After the bell today MCK, COIN, NET, DKNG & TTD are set to report.