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Morning Watchlist: Jobs Data, AVGO Earnings Ahead
Tom White
June 05, 2025
U.S. stock futures are relatively flat in the premarket with the S&P 500 and Nasdaq-100 on three-session win streaks. Despite lower than expected ADP private payrolls and ISM services data on Wednesday, big tech is leading the markets with the S&P 500 less than 3% from its all-time high. Focus today will be on Jobless Claims data along with earnings from Broadcom (AVGO) after the closing bell.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are up 0.1% near $63 a barrel after a build in U.S. gasoline and diesel inventories and Saudi Arabia’s cut to its July prices for Asian crude buyers.
Gold (/GC) – Gold is 0.6% near $3420 as investors assessed weaker-than-expected U.S. data and ongoing global economic and political uncertainties, while looking ahead to U.S. payroll data for further economic cues.
Bitcoin (/BTC) – The Crypto Future is relatively flat near 105K in the premarket.
VIX – The CBOE Volatility Index was down 0.5% on Wednesday and settled at 17.61 as stocks were relatively flat.
U.S. Dollar (/DX) – The dollar is also flat at 98.8.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7 AM ET) |
|---|---|---|
FCX | Freeport-McMoRan | +2.06% |
MTCH | Match Group | +1.84% |
DLTR | Dollar Tree | +1.70% |
TSLA | Tesla | -2.20% |
PLTR | Palantir | -0.78% |
HD | Home Depot | -0.49% |
Economic Data
Time | Event |
|---|---|
7:30AM ET | Challenger Job Cuts |
8:15AM ET | EBC Announcement |
8:30AM ET | Jobless Claims Intl. Trade in Goods Productivity & Costs |
10:30AM ET | Natural Gas Inventories |
12:00PM ET | Fed’s Kugler Speaks |
1:30PM ET | Fed’s Harker/Schmid Speak |
Notable Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
BF/B, CIEN, CBRL, DLTH, MOMO, LE, TTC | AVGO, DOCU, GES, LULU, WOOF, RENT, TTAN, MTN, ZUMZ | ABM, GIII, MANU | None |
Upgrades/Downgrades
Mizuho upgrades Visa (V) Outperform from Neutral
Erste Group upgrades Broadcom (AVGO) to Buy from Hold
Bernstein upgrades Texas Instruments (TXN) to Market Perform from Underperform
Erste Group downgrades Salesforce (CRM) to Hold from Buy
Jefferies downgrades Chewy (CHWY) to Hold from Buy
Erste Group downgrades Eli Lilly (LLY) to Hold from Buy
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