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Morning Watchlist: S&P Snaps 4-Week Losing Streak
Tom White
March 24, 2025
U.S. Stock Futures are sharply higher ahead of the Wall Street open as investors are becoming more optimistic that tariff policy will be more targeted as opposed to broad-based. Tech is leading the gains with the Nasdaq-100 (/NQ) Futures up 1.3% as traders are buying beaten-down stocks in the sector. Stocks are coming off a week that finally saw some gains with the S&P 500 snapping a four-week losing streak by rising a modest 0.5%. Investor focus will continue to be on tariff headlines today along with PMI Composite data.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are up 0.8% near $68.80 a barrel as investors assessed the outlook for ceasefire talks aimed at ending the Russia-Ukraine war, which could lead to an increase in Russian oil to global markets.
Gold (/GC) – Gold is 0.3% higher, lingering below the records it set last week.
Bitcoin (/BTC) – The cryptocurrency is up 4.5% and is nearing $88K.
VIX – The CBOE Volatility Index has fallen almost 2% to just below 19.
U.S. Dollar (/DX) – The dollar is about flat at 103.6.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7 AM ET) |
|---|---|---|
TSLA | Tesla | +3.87% |
FCX | Freeport-McMoran | +2.91% |
META | Meta Platforms | +2.94% |
LMT | Lockheed Martin | -1.75% |
ABBV | Abbvie | -0.48% |
VZ | Verizon | -0.43% |
Economic Data
Time | Event |
|---|---|
8:30AM ET | Chicago Fed Natl. Activity Index |
9:45AM ET | PMI Composite Flash |
11:30AM ET | 3-Month Bill Auction 6-Month Bill Auction |
Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
LUNR | KBH, OKLO | CSIQ, MKC, PONY | GME, WOR |
Upgrades/Downgrades
Melius Research upgrades Boeing (BA) to Buy from Hold
Raymond James upgrades Lumentum (LITE) to Strong Buy from Outperform
Jefferies upgrades FedEx (FDX) to Buy from Hold
Evercore ISI downgrades Lennar (LEN) to In Line from Outperform
Goldman Sachs downgrades Super Micro (SMCI) to Sell from Neutral
BofA downgrades Lockheed Martin (LMT) to Neutral from Buy
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