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Morning Watchlist: Closing Out May
Rick Ducat, CMT
May 30, 2025
The Trade War roller coaster took another huge swing, with the U.S. Court of Appeals for the Federal Circuit yesterday reinstating President Trump’s sweeping global tariffs – at least for now – less than 24 hours after they were blocked by another U.S. court. Markets are modestly down as the last trading day of the month dawns, but major equity index futures still show strong gains during May with the /ES up about +5.2% and the /NQ up about +7.7%.
It’s another heavy day for economic data, with today’s lineup including Personal Income and Outlays, Chicago PMI, and Consumer Sentiment among others. COST and DELL are little changed after earnings, PATH is up +13%, ULTA is up +8%, and GAP is down -15%.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are 1% higher to $61.61.
Gold (/GC) – Gold is down almost 1% to around $3,317.
Bitcoin (/BTC) – The cryptocurrency is 0.3% higher this morning, around $106.7K.
VIX – The CBOE Volatility Index has fallen 0.5% to 19.
U.S. Dollar (/DX) – The dollar is up slightly, around 99.4.
Biggest S&P 500 Premarket Movers
Symbol | Product | Mark % Change (as of 7 AM ET) |
|---|---|---|
ULTA | Ulta Beauty | +9.06% |
DXCM | Dexcom | +1.69% |
DELL | Dell Technologies | +1.12% |
REGN | Regeneron | -9.48% |
COO | Cooper | -9.04% |
NTAP | NetApp | -5.25% |
Economic Data
Time | Event |
|---|---|
8:30AM ET | Intl. Trade in Goods (Advance) Personal Income & Outlays Retail Inventories (Advance) Wholesale Inventories (Advance) |
9:45AM ET | Chicago PMI |
10:00AM ET | Consumer Sentiment |
12:20PM ET | Fed’s Bostic Speaks |
1:00PM ET | Baker Hughes Rig Count |
3:00PM ET | Farm Prices |
4:45PM ET | Fed’s Daly Speaks |
7:30PM ET | Fed’s Goolsbee Speaks |
Sunday 8:00PM ET | Fed’s Waller Speaks |
Notable Earnings
Premarket | Postmarket | Premarket Monday | Postmarket Monday |
|---|---|---|---|
SCVL, CGC | None | CPB, SAIC | CRDO |
Upgrades/Downgrades
Barclays upgrades Rockwell Automation (ROK) to Overweight from Equal Weight
Oppenheimer upgrades Nordson (NDSN) to Outperform from Perform
Barclays upgrades California Resources (CRC) to Overweight from Equal Weight
Truist downgrades Airbnb (ABNB) to Sell from Hold
Piper Sandler downgrades Zscaler (ZS) to Neutral from Overweight
JPMorgan downgrades Cooper (COO) to Neutral from Overweight
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