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Morning Watchlist: 1 Week 'Til Tariffs
Tom White
March 26, 2025
U.S. stock futures are relatively flat ahead of the Wall Street open with the S&P 500 on a three-session win streak. Yesterday’s gains came despite Consumer Confidence data posting below expectations. The soft data showed headline numbers fell to 92.9, a 50-month low, and the expectations component dumped to its lowest reading in 12 years. Investors pushed aside the weak data and now focus on the upcoming reciprocal tariffs, which kick in next Wednesday. Optimism remains that President Trump will take a more targeted approach and not install a broad-based swath of the tariffs.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are up around 1% but still below the $70 mark.
Gold (/GC) – Gold is slightly higher around $3034.
Bitcoin (/BTC) – The cryptocurrency is flat at $88K.
VIX – The CBOE Volatility Index is holding around 17.
U.S. Dollar (/DX) – The dollar is flat just beneath 104.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7 AM ET) |
|---|---|---|
DLTR | Dollar Tree | +2.77% |
MU | Micron | +2.09% |
FCX | Freeport-McMoRan | +2.05% |
NVDA | Nvidia | -1.30% |
IP | Intl. Paper | -1.21% |
JBHT | J.B. Hunt Transport | -0.77% |
Economic Data
Time | Event |
|---|---|
7:00AM ET | MBA Mortgage Applications |
8:30AM ET | Durable Goods Orders |
10:00AM ET | Fed’s Kashkari Speaks |
10:30AM ET | EIA Petroleum Status Report |
1:00PM ET | 5-Year Note Auction |
1:10PM ET | Fed’s Musalem Speaks |
Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
DOOO, CHWY, CTAS, JKS, PAYX, TTAM | FUL, JEF, MLKN, WOOF, SCS, VRNT | BITF, SNX, WGO | AIR, LULU, OXM |
Upgrades/Downgrades
Stephens upgrades CarMax (KMX) to Overweight from Equal Weight
Morgan Stanley upgrades Range Resources (RRC) to Equal Weight from Underweight
China Renaissance downgrades Micron (MU) to Hold from Buy
Susquehanna downgrades J.B. Hunt (JBHT) to Neutral from Positive
Piper Sandler downgrades Westlake (WLK) to Neutral from Overweight
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