
Stocks Set for Muted Open With Focus on U.S.-China Trade Talks, U.S. Inflation Data Awaited
June S&P 500 E-Mini futures (ESM25) are up +0.08%, and June Nasdaq 100 E-Mini futures (NQM25) are down -0.01% this morning, pointing to a muted open on Wall Street as investors turn their attention to talks between the U.S. and China in London, and also await the release of key U.S. inflation data later in the week.
Top officials from the U.S. and China meet in London today for talks that investors hope will signal progress toward easing trade tensions between the world's two largest economies. The talks come after a call between U.S. President Donald Trump and Chinese leader Xi Jinping last week, in which the two agreed to resume discussions on tariffs following a temporary truce reached in mid-May. 'The meeting should go very well,' Trump wrote on Truth Social on Saturday. The U.S. president told reporters on Friday that negotiations with Beijing were 'very far advanced.'
In Friday's trading session, Wall Street's major equity averages ended in the green, with the benchmark S&P 500 notching a 3-1/2 month high and the blue-chip Dow posting a 3-month high. The Magnificent Seven stocks advanced, with Alphabet (GOOGL) rising over +3% and Amazon.com (AMZN) gaining more than +2%. Also, chip stocks gained ground, with Marvell Technology (MRVL) climbing nearly +5% and Micron Technology (MU) rising over +2%. In addition, Tesla (TSLA) gained more than +3% after CEO Elon Musk indicated he would ease tensions with President Trump following Thursday's heated spat. On the bearish side, Lululemon Athletica (LULU) tumbled over -19% and was the top percentage loser on the S&P 500 and Nasdaq 100 after the retailer cut its full-year EPS guidance.
The U.S. Labor Department's report on Friday showed that nonfarm payrolls rose 139K in May, stronger than expectations of 126K. Also, U.S. May average hourly earnings rose +0.4% m/m and +3.9% y/y, stronger than expectations of +0.3% m/m and +3.7% y/y. In addition, the U.S. unemployment rate was unchanged at 4.2% in May, in line with expectations. Finally, U.S. consumer credit rose $17.87B in April, stronger than expectations of $11.30B.
'While it may not be firing on all cylinders, it's far from showing signs of a major breakdown. [Friday's] solid labor report buys the Fed more time, but Chair Jerome Powell may have a hard time justifying a restrictive rate policy should inflation continue lower,' said Bret Kenwell at eToro.
Philadelphia Fed President Patrick Harker said on Friday that there may be a path to cutting rates in the second half of the year, but reiterated that officials should hold steady for now and wait for uncertainty to subside. 'For now, I am strongly of the belief we sit here, let some of this uncertainty resolve itself,' he said.
U.S. rate futures have priced in a 99.9% probability of no rate change at next week's monetary policy meeting.
The U.S. consumer inflation report for May will be the main highlight this week. The report will be scrutinized for any indications that Trump's tariffs are feeding through into prices. Barclays economists said in a note that they anticipate the inflation data will show 'the first signs of tariff-related price pressures.' They expect upward price pressures on 'a wide range of core goods categories,' such as apparel, household furnishings, new vehicles, and other goods. Also, investors will be keeping an eye on other economic data releases, including the U.S. PPI, the Core PPI, Initial Jobless Claims, Crude Oil Inventories, and the University of Michigan's Consumer Sentiment Index (preliminary).
Market participants will also focus on earnings reports from several notable companies, with Adobe (ADBE), Oracle (ORCL), Chewy (CHWY), and GameStop (GME) scheduled to release their quarterly results this week.
U.S. central bankers are in a media blackout period before the June 17-18 policy meeting, so they are prohibited from making public comments this week. Despite President Trump's push to pressure central bankers into swiftly cutting interest rates, Fed Chair Jerome Powell and his colleagues have signaled they have time to evaluate the effects of trade policy on the economy, inflation, and employment.
Meanwhile, Apple (AAPL) kicks off its annual Worldwide Developers Conference today in Cupertino, California. The event is expected to feature the company's new products, services, and partnerships.
Today, investors will also focus on U.S. Wholesale Inventories data, which is set to be released in a couple of hours. Economists expect the final April figure to be unchanged m/m, compared to +0.4% m/m in March.
In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.483%, down -0.69%.
The Euro Stoxx 50 Index is down -0.06% this morning as investors cautiously await the outcome of another round of U.S.-China trade talks. Trading was subdued on Monday as markets in several countries, including Switzerland, Denmark, and Norway, were closed for the Whit Monday holiday. Defense stocks lost ground, while real estate stocks outperformed. Meanwhile, European Central Bank Governing Council member Joachim Nagel said over the weekend that he cannot determine whether rate cuts are finished for this year and that the next steps remain completely open. Separately, ECB policymaker Boris Vujcic said on Monday that the central bank should not 'overreact' to Eurozone inflation dipping below its 2% target, as there are good reasons to believe it will rise again. Investor focus this week is also on the Eurozone's industrial production and trade data for April, which will provide insight into how Trump's initial on-off tariff onslaught affected manufacturing and exports at the beginning of the second quarter. In corporate news, Alphawave IP Group Plc (AWE.LN) soared over +23% after Qualcomm agreed to acquire the company for about $2.4 billion. At the same time, WPP Plc (WPP.LN) fell over -1% after the advertising group announced that its chief executive officer, Mark Read, would step down by the end of 2025.
The European economic data slate is empty on Monday.
Asian stock markets today settled in the green. China's Shanghai Composite Index (SHCOMP) closed up +0.43%, and Japan's Nikkei 225 Stock Index (NIK) closed up +0.92%.
China's Shanghai Composite Index closed higher today as investors looked ahead to the high-level U.S.-China trade talks in London. Rare-earth and technology stocks led the gains on Monday. Sentiment was supported by signs that de-escalation could be back on track following the recent flare-up in tensions between the two superpowers. China approved some applications for rare earth exports ahead of the talks. Boeing has also resumed deliveries of commercial jets to China for the first time since early April, signaling a reopening of trade flows. China Securities analysts said in a note that they think 'there could be some favorable outcomes from the meeting, as Trump has hinted at some positive signs.' Still, the benchmark index's gains were limited as investors digested weak economic data from the country. Data from the National Bureau of Statistics released on Monday showed that China's consumer prices fell for a fourth consecutive month in May, while producer deflation worsened to its deepest level in nearly two years, as the economy grapples with trade tensions and a prolonged housing slump. Separately, data showed that China's exports grew in May, but at a significantly slower rate as U.S. tariffs continue to affect trade despite the temporary trade truce between Beijing and Washington. Many economists anticipate the nation's exports to slump later this year, with the average U.S. tariff on Chinese goods still hovering near 40%, which could further intensify China's disinflationary pressures. In corporate news, Wenyi Trinity Technology jumped +10% after announcing plans to acquire a 51% stake in Anhui Zhonghe Semiconductor Technology for 121.4 million yuan.
The Chinese May CPI came in at -0.1% y/y, stronger than expectations of -0.2% y/y.
The Chinese May PPI stood at -3.3% y/y, weaker than expectations of -3.1% y/y.
The Chinese May Trade Balance arrived at $103.22B, stronger than expectations of $101.10B.
The Chinese May Exports came in at +4.8% y/y, weaker than expectations of +5.0% y/y.
The Chinese May Imports stood at -3.4% y/y, weaker than expectations of -0.9% y/y.
Japan's Nikkei 225 Stock Index ended higher today, supported by optimism surrounding trade talks between Beijing and the U.S. Chip stocks led the gains on Monday. Yunosuke Ikeda, chief macro strategist at Nomura, said, 'The trade talks in London are, at the very least, a step in the direction of easing restrictions on chip shipments between the U.S. and China.' Government data released on Monday showed that Japan's economy shrank less than previously estimated in the first quarter, as consumption was revised higher. Still, the revision does little to ease concerns among analysts and economists that economic growth is losing momentum. 'Tariffs and tariff threats are damaging exports and industrial production. Household spending is weak as inflation outpaces wage growth, and pay gains may slow further if tariff pain derails the economy,' said Moody's Analytics economist Stefan Angrick. Japan's economy remains at risk of technical recession, which could push back the Bank of Japan's timeline for raising interest rates. Meanwhile, Japanese Prime Minister Shigeru Ishiba said on Monday that Japan must recognize that rising interest rates would increase the government's debt-financing costs and impact its spending plans. Ishiba is expected to hold a bilateral meeting with U.S. President Donald Trump this week to announce a trade agreement. They will likely meet on the sidelines of the Group of Seven summit that begins on June 15th, or potentially a day earlier in Washington. In other news, Reuters reported on Monday that Japan's government was weighing the repurchase of some super-long bonds it had issued at low interest rates. In corporate news, Otsuka Holdings climbed over +5% after the drugmaker said its experimental treatment for a potentially life-threatening kidney disease reduced high levels of protein in patients' urine by more than half. The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed down -3.31% to 22.78.
The Japanese GDP Annualized has been reported at -0.2% q/q in the first quarter, stronger than expectations of -0.7% q/q.
The Japanese April Current Account n.s.a. stood at 2.258T yen, weaker than expectations of 2.560T yen.
The Japanese May Economy Watchers Current Index came in at 44.4, stronger than expectations of 43.8.
Pre-Market U.S. Stock Movers
Tesla (TSLA) fell over -3% in pre-market trading after Baird downgraded the stock to Neutral from Outperform.
Air mobility stocks jumped in pre-market trading, extending Friday's gains after President Trump signed an executive order launching an electric 'Vertical Takeoff and Landing' integration pilot program. Joby Aviation (JOBY) and Archer Aviation (ACHR) are up over +9%.
Today's U.S. Earnings Spotlight: Monday - June 9th
Caseys (CASY), VinFast (VFS), Calavo Growers (CVGW), Graham (GHM), Limoneira (LMNR), Motorcar Parts (MPAA), Lakeland Industries (LAKE), Comtech (CMTL).
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Globe and Mail
19 minutes ago
- Globe and Mail
Cardiovascular Tailwind Boosts BSX: Here's How to Play the Stock
Boston Scientific BSX, a prominent global player in cardiovascular technology, is well-positioned to capitalize on the robust expansion of the cardiovascular devices market. According to a MarketsandMarkets report, this market was valued at $72.83 billion in 2023 and is expected to witness a strong CAGR of 7.3% between 2024 and 2029. With its portfolio of Cardiology and Peripheral Interventions products, Boston Scientific is set to benefit significantly from this upward trend. The booming cardiovascular devices market, driven by aging demographics, minimally invasive procedures, and tech innovation, is propelling Boston Scientific's top-line growth, product leadership and stronger profitability. These tailwinds were clearly reflected in the company's robust first-quarter 2025 performance and raised full-year 2025 guidance. In the past year, Boston Scientific's shares have skyrocketed roughly 31.8%, outpacing the broader Medical Product industry and the S&P 500 benchmark, which have improved about 8.9% and 11.9%, respectively. During this time, Boston Scientific has also outpaced key peers such as Abbott Laboratories ABT and Medtronic MDT. While Abbott, known for its structural heart, cardiac rhythm management, and diagnostics products, gained 24.2%, Medtronic, known for heart valves and coronary stents, advanced 5.1%. BSX 1 Year Price Comparison Major Tailwinds Driving BSX Stock Strong Q1: In the first quarter of 2025, Boston Scientific's revenues were up 22.2% on an operational basis (at a constant exchange rate or CER). The Cardiovascular segment sales were up 26.2% year over year. Within this, Cardiology and Peripheral Interventions businesses' sales grew 31.2% and 7.4%, respectively, year over year. U.S. revenues rose 31%, driven by double-digit growth in most business units. Japan and China also delivered strong results, particularly in EP. Boston Scientific reported adjusted earnings per share (EPS) of $0.75, up 34% year over year. The company's revenues and EPS rose due to exceptional top-line growth across key franchises, especially in EP and structural heart, combined with improved margin performance and disciplined cost management. Cardiovascular Steals Spotlight: Boston Scientific's Electrophysiology business is rapidly expanding its global market share, with first-quarter 2025 organic growth surging 145%, positioning BSX as the number two player in the space. This growth is largely driven by strong commercial adoption of FARAPULSE, the company's flagship Pulsed Field Ablation ('PFA') system, which is gaining traction through global demand, new account expansions, and ongoing clinical studies like AVANT GUARD and Elevate PF. Meanwhile, Boston Scientific's structural heart portfolio is also performing well, with WATCHMAN sales up 24% year over year, aided by DRG-enabled procedural growth. Next-gen versions — WATCHMAN FLX and FLX Pro — are accelerating adoption, while trials like CHAMPION-AF and OPTION A aim to expand the device's global market potential. Boston Scientific's 2025 Outlook Looks Promising For full-year 2025, Boston Scientific raised its organic revenue growth guidance to 12- 14% (from 10-12%) and now expects adjusted EPS of $2.87-$2.94, representing 14-17% year-over-year growth. Reported revenue growth is projected at 15-17%, including contributions from recent acquisitions like Axonics and Intera Oncology. Adjusted operating margin is expected to expand 50-75 basis points, driven by strong product mix, notably FARAPULSE and WATCHMAN, and cost efficiencies. Segmentally, Cardiology continues to lead growth, with Endoscopy and Neuromodulation expected to outperform markets and Urology affected modestly by supply constraints. Estimates for BSX Heading North The Zacks Consensus Estimate for Boston Scientific's 2025 sales and EPS implies a year-over-year improvement of 16.4% and 15.9%, respectively. The bottom-line estimates have moved northward in the past 60 days. BSX's Downsides Boston Scientific continues to face a challenging business environment, thanks to industry-wide macroeconomic pressures, including geopolitical tensions, global supply-chain disruptions, and labor market instability. International conflicts and retaliatory trade actions have increased global risks, while volatile financial markets and fluctuating prices for goods and services are squeezing profitability. Sustained macroeconomic pressures may make it more difficult for the company to manage operating expenses effectively. Tariffs are expected to have a $200 million impact in 2025, which, although planned to be offset through sales growth, cost controls and FX benefits, underscores the heightened complexity of the current environment. BSX Stock Valuation With a forward five-year price-to-earnings (P/E) of 33.31X, Boston Scientific's shares are trading at a premium compared with the industry average of 21.29X. It has a Value Score of D at present. P/E Forward Twelve Months (F12M) Meanwhile, MDT's five-year price-to-earnings (P/E) of 15.63X is lower than the industry average. How to Play BSX Stock? Considering Boston Scientific's strong operational performance, leadership in fast-growing cardiovascular segments like Electrophysiology and Structural Heart, and promising pipeline of developments, the company is clearly executing well on both growth and profitability fronts. With projected double-digit revenue and earnings growth, BSX is poised to continue delivering shareholder value, even amid a complex macroeconomic backdrop and tariff headwinds. The stock has excelled both the industry and its peers, and its estimates are likely to continue to trend upward in the near term. Henceforth, the current BSX shareholders may find it prudent to stay invested. Boston Scientific carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Abbott Laboratories (ABT): Free Stock Analysis Report Boston Scientific Corporation (BSX): Free Stock Analysis Report Medtronic PLC (MDT): Free Stock Analysis Report


Globe and Mail
19 minutes ago
- Globe and Mail
Onfolio Holdings Inc. Launches Referral Partner Program to Accelerate Adoption of AI Visibility Services
WILMINGTON, Del., June 10, 2025 (GLOBE NEWSWIRE) -- Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW) (OTCQB: ONFOP) ('Onfolio' or the 'Company') today announced the official launch of its Referral Partner Program to support the rapid growth of its Generative Engine Optimization (GEO) business. The program offers recurring income and long-term upside to professionals who refer clients to Pace Generative LLC, Onfolio's GEO subsidiary, which helps businesses gain visibility in AI-generated answers from tools like ChatGPT, Gemini, Claude, Grok, and Perplexity. For Onfolio, the program should help to capture the demand and scale revenues significantly faster. Generative Engine Optimization (GEO) is a fast-emerging discipline that positions businesses inside AI-generated responses, rather than simply helping them rank in traditional search engines. When prospective clients ask tools like ChatGPT, 'Who's the best cosmetic surgeon in Miami?' or 'Which estate planning firm in NYC is most reputable?', GEO helps to determine whether a business is mentioned in that real-time answer. 'With the way people now search for trusted services, the brands that show up in AI answers will win the next decade,' said Dominic Wells, CEO of Onfolio. 'Our mission is to ensure that great companies don't get left behind - and our referral partners will be essential to helping us scale that impact.' 'AI is now the first stop for answers,' Wells continued. 'If a company isn't cited, it's not just ranked lower, it's invisible. GEO addresses that. And our referral program allows trusted professionals to help their clients while building a new revenue stream for themselves.' For more information about Pace Generative LLC, visit For more information about our referral program, visit or contact Michael Carwile at partners@ About Onfolio Holdings Inc. Onfolio acquires, operates, and scales a diversified portfolio of digital companies. The Company focuses on businesses with strong cash flows, long-term growth potential, and experienced leadership—or those that can be effectively managed by Onfolio's in-house team. By targeting under-optimized businesses with untapped potential, Onfolio adds value through operational expertise, strategic guidance, and advanced technologies. For more information, visit www. Safe Harbor Statement The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continues," "estimates," "projects," "intends," and similar expressions. Examples of forward-looking statements include, among others, statements we make regarding expected operating results, such as revenue growth and earnings, and strategy for growth and financial results. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing new customer offerings, changes in customer order patterns, changes in customer offering mix, continued success in technological advances and delivering technological innovations, delays due to issues with outsourced service providers, those events and factors described by us in Item 1.A "Risk Factors" in our most recent Form 10-K and Form 10-Q, other risks to which our Company is subject, and various other factors beyond the Company's control. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

National Post
24 minutes ago
- National Post
WealthTech Disruptor, OneVest Recognized for Innovation and Market Impact with Dual Finalist Honors at 2025 Wealthies Awards
Article content NEW YORK — Following its successful Series B funding round led by Salesforce Ventures, OneVest is redefining WealthTech and bringing its transformative, full-stack wealth management platform to financial institutions across the US. This strategic growth underscores OneVest's commitment to reshaping the future of wealth management with technology that enables seamless, scalable, and intelligent investing experiences for Advisor, Client and Home Office. Article content As the industry evolves, OneVest's modular platform is helping RIAs, banks, asset managers and insurance companies modernize how they deliver wealth management solutions and services, driving operational efficiency, enhancing client engagement, and reducing time to market. Article content Article content Recognized by the Industry Article content That momentum has earned OneVest finalist recognition in two categories for the 2025 Informa Connect Wealth Management Industry Awards: Article content These honors validate OneVest's leadership in delivering cutting-edge solutions that simplify complex processes and enhance advisor productivity. Article content A standout innovation is Next Best Action Powered by AI, a feature that delivers real-time, proactive recommendations to advisors. By surfacing intelligent, context-aware prompts, the tool helps wealth managers engage clients more effectively, take timely action, and ultimately drive better financial outcomes. It is part of OneVest's recently announced Enhanced AI suite and a key differentiator in the wealthtech space. Article content Furthering this leadership in innovation, OneVest will be featured at Wealth Management EDGE, the industry's leading thought leadership event. Co-Founder and CEO Amar Ahluwalia will speak on the AI Assembly Track on the 'Work Smarter, Not Harder: AI's Role in Operational Excellence' panel held on Tuesday, June 10 at 2:50–3:30 PM ET. Article content The session will explore how firms can harness AI to enhance operations and empower advisors in an increasingly complex environment. Orchestrating the Entire Wealth Stack Article content OneVest's platform is designed with open architecture at its core, enabling effortless integration with third-party systems across compliance, custodial services, CRM, and more. This universal orchestration allows financial institutions to customize and control their entire tech stack without compromising scale or performance. Article content An important part of wealth management solutions is the integrations to the custodian ecosystem. OneVest continues to deepen relationships with leading custodians and infrastructure providers, including Charles Schwab, Envestnet, APEX, DriveWealth, Hilltop, Plaid and many more, offering clients unmatched flexibility and connectivity across their operations. Article content These integrations accelerate time-to-value for new OneVest clients by significantly reducing implementation effort. With built-in connectivity to leading custodians and infrastructure providers, firms can onboard quickly, minimize manual setup, and immediately deliver a modern, unified experience to both advisors and end clients—without heavy development work. Article content OneVest is the right choice for modern RIA firms looking to scale fast by attracting top advisor talent. Article content Advisor transitions are often messy, manual, and resource-intensive, both for the incoming advisor and the firm. Many RIAs rely on fragmented processes that create bottlenecks, increase compliance risk, and slow down AUM transfers. For advisors, the operational burden and uncertainty of joining a new firm can be a major deterrent, and for firms, it's a costly and inconsistent experience that strains transition teams and jeopardizes client retention. Article content OneVest solves this with a fully digital, end-to-end advisor onboarding experience. Configurable workflows, embedded compliance tools, and integrated data infrastructure reduce manual lift, eliminate redundant processes, and accelerate time to revenue. Advisors can bring over their book smoothly, while firms maintain full visibility and control. For growing RIAs, this means faster ramp-up times, fewer errors, and a standardized onboarding journey aligned with firm policies and brand expectations, helping firms recruit top talent and scale with speed. Article content About OneVest Article content OneVest is a financial technology company on a mission to Power the World's Wealth. It offers an end-to-end wealth management platform, from client onboarding, to portfolio management, to analytics and beyond. OneVest's software was built to be modular, allowing financial institutions to fill gaps in their process depending on their needs. With backing from leading investors such as Salesforce, Deloitte, Allianz, TIAA, OMERS, Fin Capital, FJ Labs and many more, OneVest is positioned at the forefront of wealth management innovation. Article content Article content Article content Article content