Morning Watchlist: U.S. China Trade Talk in Focus

Author

Tom White
June 09, 2025

U.S. stock futures are relatively flat ahead of the Wall Street open as investors monitor today’s talks between the US and China in London for signs that trade tensions between the two biggest economies might be cooling. The moves come after a solid week for stocks with the S&P 500 (SPX) settling only 2.4% below its all-time high. Friday’s May jobs report came in at 139K jobs added which was just above the 125K expected. With little economic data today, investor focus will be on the talks with China along with the kick-off to Apple’s (AAPL) world-wide developers conference this afternoon.

Morning Movers

Snapshot (as of 7 AM ET)

  • Oil (/CL) –Oil prices are up 0.3% near $64.80 a barrel as investors awaited U.S.-China trade talks in London in the hope that a deal could boost the global economic outlook and subsequently fuel demand.

  • Gold (/GC) – Gold prices are slightly lower near $3335, despite a weaker U.S. dollar ahead of U.S.-China trade talks aimed at resolving tensions, while platinum extended gains for a sixth straight session to scale a four-year peak.

  • Bitcoin (/BTC) – The Crypto Future is up over 2.5% near 107.5K in the premarket.

  • VIX – The CBOE Volatility Index was down 9.25% on Friday and settled at 16.77 as stocks rallied. It was the lowest closing price for the VIX since February 20th.

  • U.S. Dollar (/DX) – The Dollar Index is slightly higher at 99.063

Biggest Premarket Movers

Symbol

Product

Mark % Change (as of 7 AM ET)

WBD

Warner Bros Discovery

+8.96%

COIN

Coinbase

+2.43%

MRK

Merk & CO

+2.19%

ISRG

Intuitive Surgical

-3.46%

TSLA

Tesla

-1.57%

SPG

Simon Property Group

-1.16%

Economic Data

Time

Event

10:00 AM ET

Wholesale Inventories 

11:30 AM ET

3 and 6-Month Bill Auctions 

1:00 PM ET

Apple (AAPL) WWDC begins 

Notable Earnings

Premarket

Postmarket

Premarket Tuesday

Postmarket Tuesday

N/A

CASY, SKIL

ASO, CNM, DBI, SJM, UNFI

PLAY, GME, GTLB, PETS, SFIX

Upgrades/Downgrades

  • Seaport Research upgrades Oklo (OKLO) to Buy from Neutral

  • Baird upgrades ABM Industries (ABM) to Outperform from Neutral

  • Baird downgrades Tesla (TSLA) to Neutral from Outperform

  • Argus downgrades Tesla (TSLA) to Hold from Buy

  • Morgan Stanley downgrades Lululemon (LULU) to Equal Weight from Overweight

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