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Time of India
3 days ago
- Business
- Time of India
US stock market futures steady after 3-day winning streak as Dow, S&P 500, Nasdaq hover near record highs — here are today's biggest premarket movers
U.S. stock market futures are holding steady Thursday morning, pausing after a three-day winning streak that pushed the Dow, S&P 500, and Nasdaq to fresh record territory. Investors are treading carefully ahead of key economic reports that could determine whether the Federal Reserve's rate-cut momentum holds or stalls. Wall Street is catching its breath this morning after a three-day winning streak sent the Dow, S&P 500, and Nasdaq to record highs, with traders now eyeing fresh inflation and jobs data that could decide the Fed's next move. Tired of too many ads? Remove Ads Wall Street takes a breather ahead of PPI and jobless claims Tired of too many ads? Remove Ads Major U.S. Index Levels (Premarket) Dow Jones Industrial Average (DJIA) : 41,285.74, ▲ 0.02% : 41,285.74, ▲ 0.02% S&P 500 : 5,602.38, ▼ 0.01% : 5,602.38, ▼ 0.01% Nasdaq Composite : 18,443.12, ▼ 0.04% : 18,443.12, ▼ 0.04% Russell 2000: 2,124.57, ▲ 0.05% Biggest winners and losers in premarket trading dLocal (DLO) surged +25% after delivering a strong earnings beat. surged after delivering a strong earnings beat. Bullish climbed +14% , continuing its hot streak. climbed , continuing its hot streak. Equinox Gold (EQX) rose +4.6% on stronger commodity sentiment. rose on stronger commodity sentiment. QXO Inc. advanced +3.4% , while Insmed (INSM) , CRISPR Therapeutics (CRSP) , and Cognex (CGNX) each gained more than 2% . advanced , while , , and each gained more than . Tempus AI jumped +7.2% as interest in biotech AI plays picked up. Ibotta (IBTA) plunged −35% after disappointing earnings. plunged after disappointing earnings. Coherent Corp. (COHR) collapsed −19.9% on weak guidance. collapsed on weak guidance. Tapestry Inc. (TPR) tumbled −17% amid a gloomy luxury demand outlook. tumbled amid a gloomy luxury demand outlook. Deere (DE) sank −7.7% after trimming its full-year forecast despite solid demand in some segments. sank after trimming its full-year forecast despite solid demand in some segments. Cisco (CSCO) gave up 0.9% despite posting a modest earnings beat, as investors questioned its growth trajectory. Why the PPI release matters more this time Tired of too many ads? Remove Ads Top movers (percentage gainers) Equinox Gold Corp (EQX) : +4.6% : +4.6% QXO Inc (QXO) : +3.4% : +3.4% Insmed Inc (INSM), CRISPR Therapeutics (CRSP), Cognex Corp (CGNX): each up at least ~2% Coherent Corp (COHR) : –19.9% : –19.9% Tapestry Inc (TPR): –8.4% Broad strength but rotation beneath the surface Why the Fed is in focus today Sector rotation quietly taking shape Strength in homebuilders , financials , biotech , and small caps (Russell 2000 at a six-month high). in , , , and (Russell 2000 at a six-month high). Softness in AI hardware and chip-related names, suggesting investors are locking in profits after a powerful run. The bigger question: Is this a soft landing or a mirage? What to watch in the hours ahead July PPI (8:30 a.m. ET) – Any reading materially above forecasts could dampen September rate cut odds. Weekly jobless claims – Another potential trigger for rate speculation, particularly if filings spike. Treasury market reaction – Yields' direction post-data will signal whether fixed income agrees with equity optimism. Sector leadership – Continued defensive rotation could hint at institutional caution creeping in. Bottom line FAQs: The US stock market took a breather on Thursday, with futures for the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite trading virtually unchanged in early hours. This pause comes after a two-day rally that pushed the S&P 500 and Nasdaq to fresh record closes, fueled by mounting expectations that the Federal Reserve will cut interest rates next of, Dow Jones Industrial Average futures were up roughlyat, while S&P 500 futures inchedto. Nasdaq-100 futures gained just, sitting nearE-mini contracts showed a slightly softer tone, with the S&P 500 mini offatand the Nasdaq-100 mini slippingto, according toThe calm comes as traders brace for theand weekly jobless claims data — two pieces of the inflation and labor puzzle that the Fed watches closely. Sticky price pressures could complicate Wall Street's bet on three quarter-point cuts by year-end, starting in Wednesday's close, the S&P 500 had notched its second straight record, with the Nasdaq following suit. The Dow climbed more than 480 points over two sessions, leaving it within striking distance of its all-time high. Even the often-overlooked— a barometer for small-cap health — hit a six-month peak, suggesting the rally has breadth beyond the mega-cap tech the tone shifted overnight. Futures flattened out as traders adopted a 'wait-and-see' stance ahead of therelease, due at 8:30 a.m. ET. With the market's narrative now laser-focused on interest rate cuts, the inflation read will serve as another test for the Fed's morning's biggest standouts tell a story of sharp divergences across sectors:The PPI tracks wholesale prices and often signals inflationary pressures before they reach consumers. July's reading will come just a day after softer-than-expected CPI data bolstered bets on a September rate cut. According to CME FedWatch, markets are now pricing in a near-80% probability of a 25-basis-point cut, with a small but growing faction speculating on a more aggressive 50-basis-point bolder scenario was floated this week by Treasury Secretary Scott Bessent, who argued that faster action could prevent a sharper slowdown. But San Francisco Fed President Mary Daly poured cold water on the idea, stressing the need for measured steps given persistent uncertainties in wage growth and consumer a trading desk perspective, this divergence between political and central bank voices is creating a subtle volatility undercurrent. The options market, for instance, has seen an uptick in short-dated hedging, a sign some investors fear the Fed may deliver a hawkish surprise despite market notable decliners include:The summer rally hasn't been a one-sector show. Healthcare stocks have emerged as unexpected leaders, with the S&P Health Care Index up nearly 5% month-to-date, outpacing the tech-heavy Nasdaq's gain. Analysts point to defensive rotation — a move into sectors with stable earnings — as a sign some big funds are quietly bracing for choppier waters in the mega-cap techs that drove much of 2023–2024's gains are showing signs of fatigue. Apple (AAPL) and Nvidia (NVDA) both closed slightly lower on Wednesday, even as indexes hit new highs. That kind of divergence often signals a short-term cooling period in speculative risk have fully priced in a, with similar moves expected in October and December. But a hotter-than-expected PPI print could test that Secretaryadded intrigue this week by floating the possibility of a— a move that would likely ignite risk appetite. However, Fed officials likehave urged caution, warning that persistent inflation leaves little room for aggressive the headline numbers, seasoned traders are watching a subtle shift in market leadership:This kind of rotation can often precede new market narratives, especially if rate cuts materialize and smaller, domestically focused stocks start to are split on whether the rally reflects a genuine 'soft landing' — where inflation cools without a recession — or a temporary relief rally ahead of an earnings slowdown. The Fed's Beige Book last week hinted at moderating growth, particularly in manufacturing and commercial real estate, even as consumer spending held bond markets, the 10-year Treasury yield has drifted down to 3.78%, the lowest in nearly six months, reinforcing the view that traders see slower growth ahead. Yet credit spreads remain tight, a sign that Wall Street hasn't fully priced in a downturn portfolio manager I spoke to yesterday put it bluntly: 'We're in a Goldilocks moment — but remember, in the story, Goldilocks gets caught.' It's a reminder that sentiment can flip fast if economic data starts flashing market is standing on the edge of a potentially pivotal data day. A benign PPI print could solidify the September rate cut narrative and extend this week's rally. But a hotter-than-expected number would force traders to reassess just how dovish the Fed can afford to now, the tape is calm, the mood is cautiously optimistic, and all eyes are on 8:30 a.m.A pause in futures trading ahead of key PPI data and Fed rate cut expectations Healthcare and small-caps are showing the strongest momentum.
The Star
25-06-2025
- Business
- The Star
QXO seeks US$2bil in share sale
QXO chairman and CEO Brad Jacobs. — Bloomberg NEW YORK: QXO Inc is seeking to raise US$2bil in a share sale, as the building products distributor, led by billionaire Brad Jacobs, pursues a takeover. The Greenwich, Connecticut-based firm is marketing the shares for US$22.25 to US$23.25 each in an overnight share sale, according to people familiar with the matter, who asked not to be identified as the information isn't public. QXO intends to use proceeds from the offering for purposes which may include funding future acquisitions, according to a statement. The price range represents a discount of as much as 5.4% to the stock's last traded price of US$23.51 each. Its shares have climbed nearly 48% in the year-to-date period, giving the company a market value of US$13.4bil. QXO made an unsolicited US$5bil offer for GMS Inc, and said it wouldn't raise the offer after The Wall Street Journal reported Home Depot Inc had made a rival bid. QXO is the largest publicly traded distributor of roofing and building products in the United States. — Bloomberg
Yahoo
22-06-2025
- Business
- Yahoo
GMS Inc (GMS) Soars 31.88% W/W as 2 Building Giants Engage in Bidding War
GMS Inc. (NYSE:GMS) is one of the . GMS Inc. (NYSE:GMS) jumped by 31.88 percent week-on-week to finish at $100.27 versus the $76.03 on June 13, as investors snapped up shares following news that it was being targeted for acquisition by two home building giants. Last week, GMS Inc. (NYSE:GMS) confirmed receipt of QXO Inc.'s (NYSE:QXO) offer to acquire the company, saying that it will review the bid and make a decision that aligns with the best interests of the company and its shareholders. Meanwhile, The Wall Street Journal reported that Home Depot also offered to acquire GMS Inc. (NYSE:GMS), making it the second firm to bid for GMS Inc. (NYSE:GMS) and engage in a bidding war with QXO Inc. (NYSE:QXO). Home Depot, however, declined to comment on the acquisition reports. A construction worker using a drill while installing steel framing in a building. Founded in 1971, GMS operates a network of more than 320 distribution centers and operates nearly 100 tool sales, rental, and service centers across the United States and Canada. While we acknowledge the potential of GMS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Bloomberg
19-06-2025
- Business
- Bloomberg
Home Depot Seeks to Buy GMS in Challenge to QXO Bid, WSJ Says
Home Depot Inc. has made an offer for GMS Inc., potentially setting off a bidding war with QXO Inc. which this week made a $5 billion offer for the building-products distributor, the Wall Street Journal reported Thursday. The offer from Home Depot, the world's largest home-improvement retailer, is for an undetermined sum, the Journal said, citing people with knowledge of the matter.
Yahoo
19-06-2025
- Business
- Yahoo
QXO (QXO) Bullish Rating Propels Stock by 11.66%
We recently published a list of These 10 Stocks Boast Double-Digit Gains Amid Boring Market. QXO Inc. (NYSE:QXO) is one of the best-performing stocks on Thursday. QXO extended its winning streak to a third consecutive day on Wednesday, jumping 11.66 percent to finish at $22.50 apiece as investor sentiment was buoyed by an investment firm's bullish rating for its stock. In its first coverage of QXO Inc. (NYSE:QXO), investment firm William Blair & Company gave an 'outperform' rating on its stock with a target range between $27 and $44. The price target gives QXO Inc.'s (NYSE:QXO) stock as much as 95-percent upside from its latest closing price. According to William Blair, QXO Inc. (NYSE:QXO) has the potential to become a major player in the $800-billion building products distribution industry. The analyst rating followed the company's acquisition of Beacon Building Products for $11 billion, making it the largest publicly traded distributor of roofing, waterproofing, and complementary building products in the United States. dcwcreations/ William Blair expects QXO Inc. (NYSE:QXO) to pursue another large acquisition as part of its 'big game hunting' strategy, and propel its revenues to $50 billion in revenue in the next decade. While we acknowledge the potential of QXO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
