US PREMARKET ACTIONS : June 3, 2025
Futures Indices
Dow Futures: -0.17%
S&P 500 Futures: -0.1%
Nasdaq 100 Futures: 0.0%
US 10-Year Rate: 4.42%
Trade tensions and key macro indicators in focus!
Markets are digesting Trump’s announcement of new tariff hikes, while investors are awaiting crucial employment data to anticipate the trajectory of interest rates.
Market sentiment
Fear & Greed Index: 54 (Neutral)
Market environment
US markets are wavering in pre-market amid renewed trade tensions and expectations for major economic data.
The White House is urging its trading partners to submit their offers by Wednesday, five weeks ahead of its own deadline. Markets are also digesting Donald Trump’s promise to double tariffs on steel and aluminum to 50%.
Investors are now turning their attention to:
- The JOLTS report (job openings) expected at 7.11M
- April factory orders anticipated to be down by -3.1%
“June has got off to a mixed start amidst the latest trade tensions and an underwhelming ISM manufacturing print.” — Jim Reid, Deutsche Bank
“Investor focus is on whether policy uncertainty is causing companies to delay hiring.” — Paul Donovan, UBS
Why does it matter?
A deterioration in employment or manufacturing data could strengthen the case for an economic slowdown and weigh on rate expectations. Conversely, strong data could delay hopes for rate cuts.
Stocks to watch
REKR (+29.09%): Surges after a contract win with Texas DOT
AGEN (+23.49%): Rises after an anti-cancer therapy deal with Zydus
SIG (+18.08%): Sharp increase following strong Q1 results and raised 2026 guidance
MNPR (+15%): Added to Russell 3000 & 2000 indices
CEG (+10.07%): Meta to buy nuclear energy from Constellation Energy
DG (+10.22%): Raises annual guidance, lifting DLTR and FIVE
STR (+9.70%): Acquires Sitio Royalties for $4.1B in stock
GILT (+7.10%): $40M contract for its SkyEdge IV platform
HIMS (+6.04%): Acquires European health platform ZAVA
ESLA (+3.09%): Secures $3.35M financing for clinical phase
Rating changes
Upgrades
- SQ → Evercore ISI upgrades to Outperform, target raised from $58 to $75
- BKNG → William O'Neil upgrades to Buy
- CAH → Wells Fargo upgrades to Overweight, target from $136 to $179
- COR (Cencora) → Wells Fargo upgrades to Overweight, target from $274 to $337
- MRVL → CTBC upgrades to Add, target from $67 to $70
- MMS → Zacks upgrades to Outperform, target from $72 to $82
- PINS → JP Morgan upgrades to Overweight, target from $35 to $40
Neutral
- ZS → President Capital maintains Neutral, target raised from $195 to $330
- AVGO → Citigroup maintains Buy, target from $210 to $276
- CRDO → BNP Paribas maintains Outperform, target from $71 to $94
- GE → RBC maintains Outperform, target from $220 to $275
- LULU → Evercore maintains Outperform, target from $320 to $400
- RBLX → JP Morgan maintains Overweight, target from $80 to $100
Downgrades
- UNH → Piper Sandler maintains Overweight but lowers target from $552 to $353
Conclusion & Key Events
To watch today:
- JOLTS report (job openings – April)
- Factory orders (April)
- Developments in US trade talks
Expected volatility in:
- Industrials (steel, metals)
- Retail (Dollar General, Signet, Hims)
- Technology (Pinterest, Roblox, Broadcom)
Have a great session everyone
Sylvain Mouilhaud: Stock Coach