US PREMARKET ACTIONS 💥: June 24, 2025

Futures Indices

Dow Futures: +0.7%
S&P 500 Futures: +0.8%
Nasdaq 100 Futures: +1%
US 10-Year Yield: 4.34% (-1 bp)

Market Environment

The markets are digesting a fragile truce between Israel and Iran. Despite official statements, exchanges of strikes are ongoing. Israel has promised "high-intensity" retaliation after what it considers a ceasefire violation by Tehran, though Iran denies any attack.

Why is this important?

A return to extreme tensions could spark volatility, push up gold and oil, and weigh on risk assets. For now, markets are catching their breath in a closely watched geopolitical climate.

Powell before Congress today

Jerome Powell will speak at 4 pm (French time) before the House Financial Services Committee. His stance on inflation and future rate cuts could heavily influence markets.

Expected macro data:

Case-Shiller Index: expected at +4% (Y/Y)
Consumer Confidence Index (Conference Board): consensus at 99.0
House Price Index (April): expected at +0.1% (M/M)

Stocks to Watch

Notable Gains

Teladoc Health (TDOC) +6%: Rally continues, boosted by Citron Research highlighting the platform's undervalued status and AI leverage.
Super Micro Computer (SMCI) +4%: Success of its $2B convertible bond issuance.
Lyft (LYFT) +3%: Rises after TD Cowen upgraded to Buy, citing international expansion strategy and product innovation.

Notable Declines

Chewy (CHWY) -2%: Drops after a secondary share offering from its main shareholder. The company will repurchase $100M in shares without receiving proceeds.
Tesla (TSLA): Under pressure following a lawsuit related to a fatal Model S accident in 2024.

Ratings Changes

Upgrades

Electronic Arts Inc. ($EA) → Raised by Roth Capital Partners to Buy, price target increased to $185 (vs $175)
Essex Property Trust ($ESS) → Upgraded by Raymond James to Outperform, target at $315
Ge Vernova Inc. ($GEV) → Maintained Overweight by Morgan Stanley, target raised to $511 (vs $422)
Strategy Incorporated ($STR) → Maintained Buy by President Capital, target raised to $522 (vs $407)

Neutral

Nike, Inc. ($NKE) → Maintained Outperform by Evercore ISI, but target lowered to $75 (vs $97)
O'Reilly Automotive ($ORLY) → Maintained Overweight by Wells Fargo, target reduced to $103 (vs $1550)

Downgrades

Akamai Technologies ($AKAM) → Downgraded by Zacks to Underperform, target lowered to $66 (vs $87)
Microsoft Corp. ($MSFT) → Downgraded by Baptista Research to Hold, target at $525
Mid-America Apartment Communities ($MAA) → Downgraded by Raymond James to Market Perform

Conclusion & Key Events

To Watch Today:

Jerome Powell's testimony (4 pm)
Case-Shiller and House Price Index (before market open)
Consumer Confidence (4 pm)

Expected Volatility In:

Technology sectors (AI, cybersecurity), real estate, energy
Indexes sensitive to rates and geopolitics (Nasdaq, S&P 500)

Have a great session everyone
Sylvain Mouilhaud: Stock Coach