Futures Indices:
- Dow Futures: +0.16%
- S&P 500 Futures: +0.46%
- Nasdaq 100 Futures: +0.84%
Market Environment
US equities are up this Thursday, with investors welcoming two key White House decisions: the postponement of tariffs on critical minerals and Donald Trump’s announcement confirming Jerome Powell will remain as head of the Fed.
Bond yields are also rising:
- 2-year yield: 3.53% +0.37%
- 10-year yield: 4.15% +0.39%
- 30-year yield: 4.80% +0.31%
“We will secure our critical supplies through international cooperation, not taxation,” President Trump declared, easing concerns over the global supply chain.
Stocks to Watch Today
Up
Lam Research (LRCX) +6%
Stifel forecasts a 10 to 15% increase in semiconductor equipment spending in 2026, benefiting LRCX, KLA, and Teradyne.
Taiwan Semiconductor (TSMC) +5%
The group reported a 35% quarterly net profit increase to $16B, well above expectations. They plan to raise capital expenditures to $52–56B for 2026.
KLA (KLAC) +4.5% / Applied Materials (AMAT) +5.56%
Riding the same positive sector momentum around semiconductor equipment.
Nokia (NOK) +3.8%
Morgan Stanley upgrades to Overweight and raises the price target to €6.50, highlighting revenue growth linked to AI and Cloud.
Spotify (SPOT) +3.2%
The group is raising premium prices in the US and Europe, supporting revenue prospects.
Dell Technologies (DELL) +2.3%
Barclays upgrades to Overweight, noting strong demand for AI servers.
Centrus Energy (LEU) +2%
The D.E. Shaw fund raises its stake to 5.6%, a strong signal for the stock.
BlackRock (BLK) +1.3%
Quarterly results beat expectations with adjusted EPS of $13.16 and net inflows of $268B.
Down
Church & Dwight (CHD) -3.49% / Ingersoll Rand (IR) -2.94% / Agilent (A) -1.93%
Sector pressures with no specific announcements.
Changes in Recommendations
Upgraded
Digital Realty Trust ($DLR) → HSBC upgrades to Buy (from Hold) and raises the price target from $187 to $193.
DraftKings ($DKNG) → Wells Fargo upgrades to Overweight (from Equal Weight), with a price target raised from $31 to $49.
Entegris ($ENTG) → UBS upgrades to Buy (from Neutral) and now targets $145, up from $90.
Neutral
Delta Air Lines ($DAL) → Freedom Broker maintains a Buy rating, raising the price target from $69 to $89.
Expeditors Intl ($EXPD) → Truist remains at Hold but raises the price target from $130 to $160.
Freeport-McMoRan ($FCX) → Raymond James maintains Outperform, price target raised from $53 to $66.
Marriott International ($MAR) → Citi stays Neutral, but raises the price target from $285 to $345.
MDU Resources ($MDU) → Citi maintains Neutral and raises the price target from $18 to $22.
Micron Technology ($MU) → CTBC maintains Add recommendation, with a significant price target raise from $265 to $369.
Seagate Technology ($STX) → China Renaissance maintains Buy and raises the price target from $325 to $452.
Western Digital ($WDC) → China Renaissance remains at Buy with a price target raised from $193 to $286.
Downgraded
Albertsons Companies ($ACI) → Morgan Stanley downgrades to Underweight (from Equal Weight), with a price target cut from $20 to $14.
GE Healthcare Technologies ($GEHC) → UBS downgrades to Sell (from Neutral), despite a slight price target increase from $73 to $77.
Have a good trading session everyone.
