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Morning Watchlist: U.S. & China Meet This Weekend
Tom White
May 09, 2025
U.S. stock futures are modestly higher and extending yesterday’s gains ahead of the Wall Street open. President Trump announced a trade deal with the U.K. yesterday, which is helping support equities. The announcement comes ahead of the meeting between the U.S. and China in Switzerland this weekend which also has traders optimistic. With only Fedspeak due today, investor focus will be on earnings fallout along with more tariff headlines.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are up 2% near $61 a barrel, poised for a weekly gain as trade tensions between top oil consumers China and the United States showed signs of easing and Britain announced a “breakthrough” U.S. trade deal.
Gold (/GC) – Gold prices are up 1% near $3335 and are headed for a weekly gain, supported by a weaker dollar and lingering geopolitical tensions, while focus remained on U.S.-China trade talks due this weekend.
Bitcoin (/BTC) – The crypto future is up over 1.5% near 103.6K in the premarket. Bitcoin Futures are at over 3 months highs this week.
VIX – The CBOE Volatility Index was down 4.5% on Thursday and settled at 22.48 as stocks rose. It is down another 1% to 22.26.
U.S. Dollar (/DX) – The dollar is basically flat around 100.2.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7 AM ET) |
|---|---|---|
PODD | Insulet | +11.28% |
MCHP | Microchip Technology | +8.38% |
CSCO | Cisco Systems | +1.61% |
EXPE | Expedia | -9.76% |
MNST | Monster Beverage | -3.84% |
PFE | Pfizer | -1.52% |
Economic Data
Time | Event |
|---|---|
5:55AM ET | Fed’s Barr Speaks |
6:15AM ET | Fed’s William Speaks |
6:45AM ET | Fed’s Kugler Speaks |
8:30AM ET | Fed’s Barkin Speaks |
10:00AM ET | Fed’s Goolsbee Speaks |
11:30AM ET | Fed’s Waller Speaks Fed’s William Speaks |
1:00PM ET | Baker Hughes Rig Count |
7:45PM ET | Fed’s Hammack Speaks |
Notable Earnings
Premarket | Postmarket | Premarket Monday | Postmarket Monday |
|---|---|---|---|
AMCX, ENB, GOGO, PAA, TU, WULF | None | BLDE, CHGG, FOXA, MNDY, NRG, PLUG, RDNT, SBH | ACHR, DVA, GPRO, HTZ, RGTI, SPG, ZI |
Upgrades/Downgrades
Susquehanna upgrades Affirm (AFRM) to Positive from Neutral
Goldman Sachs upgrades Lyft (LYFT) to Buy from Neutral
TD Cowen upgrades Rockwell Automation (ROK) to Hold from Sell
DBS Bank downgrades AMD (AMD) to Hold from Buy
Piper Sandler downgrades Expedia (EXPE) to Underweight from Neutral
KGI Securities downgrades Block (XYZ) to Neutral from Outperform
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