Yesterday’s session on the US stock market ended with clear gains in the main stock indices. These gains were mainly driven by positive geopolitical news – lighter US tariffs, which outweighed weaker macroeconomic data, such as a lower PMI reading for the manufacturing sector. Today, at the opening of the cash session, the indices are trying to continue yesterday’s gains, although currently rather sluggishly. US500 is up 0.40%, US100 is up 0.64%, while US2000 records a 0.10% decline. Optimism in the stock market is supported by a nearly 0.25% decline in the dollar.
President Trump’s administration may adopt a more balanced approach to tariffs toward the USA’s trade partners. This information has eased investors’ concerns about the escalation of trade wars, which in recent months have been a significant source of uncertainty. This translated into increased risk appetite and stock market gains.
Today, we also received a range of new macroeconomic data from the US, which, however, did not significantly affect the market.
- The Conference Board Consumer Confidence Index dropped by 7.2 points to 92.9 (1985=100), marking the fourth consecutive monthly decline and the lowest level since 2022, indicating rising consumer concerns.
- New home sales: slightly lower reading, but growth on a month-over-month basis.
- Richmond Fed Index: reading significantly below expectations (-4 vs. 8 forecast and 6 previously).
Despite temporary investor hope for a less protectionist tariff policy, the latest reports point to concerns among both consumers and businesses.
US500
The index of the largest US companies is up 0.67% today, continuing a strong rebound from the support zone. The nearest resistance for the bulls may turn out to be the zone below 5930 points.
Source: xStation 5
Company news
Trump Media & Technology Group (DJT.US) gains +11.80% after announcing a non-binding agreement with Crypto.com to launch a series of ETFs through its Truth.Fi brand. These funds, focusing on digital assets and “Made in America” sectors like energy, will be supported by Crypto.com’s backend tech and liquidity. The ETFs are set to roll out in the U.S., Europe, and Asia, with DJT planning to invest up to $250M via Charles Schwab. CEO Devin Nunes emphasized the initiative as a push for growth and innovation without political bias.
Carvana (CVNA.US) jumps +3.60% after Morgan Stanley upgraded the stock to Overweight, highlighting a favorable buying opportunity following a recent 25% decline. Analyst Adam Jonas praised the company’s solid performance—four straight quarters of double-digit retail growth and EBITDA margins roughly double the industry average—along with its scale and integration benefits. The price target was lifted to $280 from $260, signaling 31% upside potential.
KB Home (KBH.US) dips -2.70% after it missed Q1 earnings expectations and lowered its 2025 forecast due to affordability issues and broader macroeconomic pressure. Revenue fell 5% and net orders declined 17% year-over-year, with a 2-point rise in cancellation rates to 16%. FY25 guidance was trimmed, now projecting $6.60B–$7.00B in revenue and reduced gross margin expectations. The company also named Robert R. Dillard as incoming CFO, effective March 2025.
UniFirst (UNF.US) plummeted -13.80% after Cintas ended acquisition talks, despite a prior $275/share offer. Cintas CEO Todd Schneider said key transaction terms couldn’t be agreed upon and that continuing discussions was no longer viable. The termination of talks ended investor hopes for a buyout premium, triggering the sharp sell-off.
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