News Bulletin
Monday, June 30, 2025
Evening Edition
Economic Numbers:
Time |
Event |
Actual |
Forecast |
Previous |
9:45 |
Chicago PMI
(Jun) |
40.4 |
42.7 |
40.5 |
10:00 |
FOMC Member Bostic Speaks |
|
|
|
10:30 |
Dallas Fed
Mfg Business Index (Jun) |
-12.7 |
|
-15.3 |
11:30 |
3-Month Bill
Auction |
4.25% |
|
4.20% |
11:30 |
6-Month Bill
Auction |
4.15% |
|
4.12% |
13:00 |
Fed Goolsbee Speaks |
|
|
|
Indices
|
CLOSE |
50 DMA |
200 DMA |
DJIA |
44094.77 |
41838.03 |
42598.38 |
NASDAQ |
20369.73 |
18738.46 |
18686.14 |
S&P 500 |
6204.95 |
5827.98 |
5834.93 |
Earnings Calendar:
(EPS: Earning Per Share / Rev: Revenue / Mkt Cap : market Capital/ BMO :
Before Market Opening /AMC : After Market Close)
COMPANY |
EPS Act |
EPS Fore |
Rev Act |
Rev Fore |
Mkt Cap |
Time |
IGC Pharma (IGC) |
-- |
-0.02 |
-- |
310K |
24.62M |
BMO |
National
Beverage (FIZZ) |
-- |
0.4655 |
-- |
304.75M |
3.97B |
|
Uranium
Energy (UEC) |
-0.07 |
-0.0289 |
-- |
13.5M |
2.98B |
|
Radius
Recycling (RDUS) |
-- |
-0.48 |
-- |
696.22M |
841.83M |
|
ASOS plc PK
(ASOMY) |
-- |
-- |
-- |
-- |
500.51M |
|
Methode Electronics (MEI) |
-- |
0.01 |
-- |
235.04M |
337.99M |
|
FingerMotion (FNGR) |
-- |
-- |
-- |
-- |
118.04M |
|
MOGU (MOGU) |
-- |
-- |
-- |
-- |
17.09M |
|
GreenPower Motor (GP) |
-- |
-0.1567 |
-- |
7.22M |
11.42M |
|
Ambow Education (AMBO) |
-- |
-- |
-- |
-- |
7.2M |
|
Digerati Tech
(DTGI) |
-- |
-- |
-- |
-- |
3.64M |
|
Pinstripes
Holdings (PNST) |
-- |
-0.23 |
-- |
40.84M |
1.89M |
|
CB Wind Down
(CBKCQ) |
-- |
-- |
-- |
-- |
3.86K |
|
Conns (CONNQ) |
-- |
-0.17 |
-- |
462.7M |
2.49K |
|
Progress
(PRGS) |
-- |
1.3 |
-- |
237.53M |
2.74B |
AMC |
Market News:
The S&P 500 rose Monday,
extending its rally that puts it on track to end the second quarter with
sizeable gains as fears over global trade wars recede and bets on sooner rate
cuts heat up.
Here are some of the biggest
premarket U.S. stock movers today:
1. Futures edge higher
U.S. stock futures traded higher on Monday, as investors welcomed a
decision by Canada to scrap a digital services tax aimed at American technology
groups and hoped that the White House may be able to secure a range of trade
deals in the coming weeks.
By 03:30 ET (07:30 GMT), the Dow futures contract had risen
by 250 points, or 0.6%, S&P 500 futures had gained 23 points, or 0.4%, and Nasdaq 100 futures had risen by 109 points, or 0.5%.
The main averages all ended in the green on Friday, with the benchmark
S&P 500 and tech-heavy Nasdaq Composite both
notching all-time closing peaks. The Nasdaq,
in particular, confirmed its entry into bull market territory, commonly defined
as a 20% rise off a recent low.
A personal consumption expenditures report showed that consumer spending
unexpectedly declined in May, while the inflation rate stubbornly above the
Federal Reserve’s 2% target. The figures bolstered hopes for potential interest
rate reductions from the central bank.
Financial markets have now priced in a roughly 74% probability that the
Fed will slash rates as soon as its September, although there is still a
smaller chance that the drawdown comes at its next gathering in July.
2. Canada rescinds digital
services tax
Canada decided to rescind its digital services tax on tech businesses
mere hours before it was due to take effect, as Ottawa pushes to revitalize
stalled trade negotiations with the Trump administration.
The tax would have covered 3% of the digital services revenue a tech company
garners from Canadian customers above $20 million in a calendar year. It would
have been retroactive to 2022 as well.
U.S. President Donald Trump used the tax as a motive last week for
terminating trade discussions with Canada, calling it "egregious" and
threatening to slap a new tariff rate on Canadian goods in response.
But in a statement, Canada’s finance ministry said collection of the
tax, slated for Monday, will be halted. Canada’s finance minister also noted
that legislation to erase the tax will be brought forward.
Following the announcement, Prime Minister Mark Carney and U.S.
President Donald Trump will now hold talks with the goal of reaching a trade
deal by July 21, Canada’s finance ministry said.
3. Senate debates policy bill
with full passage vote looming
Republicans in the U.S. Senate have voted to begin debate over their
version of a massive, Trump-backed tax-and-spending bill, even as the
legislation faces holdouts from inside the GOP and staunch Democratic
opposition.
The measures, which a nonpartisan forecaster said could add around $3.3
trillion to the country’s ballooning $36.2 trillion debt pile over the next
decade, are widely tipped to be passed by the upper chamber of the U.S.
Congress, potentially as early as Monday.
Among a variety of initiatives, the bill would extend tax cuts first put
in place by Trump in 2017, slash other taxes and increase spending on defense and border security.
Senators now likely face hours of debate before beginning a voting
session on amendments to the legislation -- a step which could then be followed
by a vote on full passage. The bill would next need to be approved by the House
of Representatives.
Lawmakers in Congress are pushing to have the package on Trump’s desk
ready for signing by a self-imposed July 4 deadline.
4. China manufacturing activity
contracts
China’s manufacturing sector contracted in June, albeit at a slightly
less-than-expected pace as local manufacturers grappled with sluggish overseas
demand amid relatively high U.S. trade tariffs.
The manufacturing purchasing managers’ index read 49.7 in June, data
from the National Bureau of Statistics showed on Monday. The print was slightly
better than expectations of 49.6 and improved from the 49.5 seen in the prior
month.
A reading below 50 indicates contraction, with China’s manufacturing
sector now shrinking for a third straight month.
Yet the PMI picked up marginally from the prior month, reflecting some
improving conditions for domestic manufacturers after the U.S. and China agreed
to slash their respective trade tariffs in May.
Washington and Beijing have also made steps towards agreeing to uphold
the May deal, as well as establishing a framework for a trade deal in June.
Further improvements in trade relations between the two countries could benefit
Chinese manufacturers, who will be able to sell more in U.S. markets as tariffs
fall.
5. Oil dips
Crude prices edged lower Monday as an easing of geopolitical risks in
the Middle East and the prospect of another OPEC+ output hike in August
weighed.
At 03:35 ET, Brent futures dropped 0.2% to $66.66 a barrel and U.S. West
Texas Intermediate crude futures fell 0.4% to $65.26 a barrel.
Both benchmarks posted their biggest weekly decline since March 2023
last week, but they are set to finish higher in June with a second consecutive
monthly gain of more than 5%.
The Organization of the Petroleum Exporting Countries and allies, known
as OPEC+, is set to meet on July 6 and is widely expected to agree to another
monthly increase in output levels, the fifth since the group started unwinding
production cuts in April.
Shares of Zscaler (NASDAQ:ZS) fell more than
3% in premarket trading Monday after the cloud security firm announced plans to
raise capital through a private offering of convertible bonds.
The company is seeking to issue $1.5 billion in three-year convertible
bonds.
Zscaler plans to use a portion of the
net proceeds to pay for capped calls, which are derivative transactions
designed to reduce potential dilution from the bond conversion.
The remaining funds will be allocated for general corporate purposes,
including working capital, capital expenditures, potential acquisitions, and
strategic transactions.
Shares of some hospital stocks fell premarket on Monday after BofA analysts warned the latest version of the Senate’s
Reconciliation Bill appears “more negative for hospitals” than previously
expected.
According to BofA, the bill reinstates cuts to
provider taxes and retains reductions to Medicaid state-directed payment
programs (DPPs), both of which could materially impact hospital revenue.
Tenet Healthcare (NYSE:THC) shares dropped 2.3%, HCA Healthcare
(NYSE:HCA) fell 0.9%, and Acadia Healthcare (NASDAQ:ACHC) slipped 0.4% in early
trading following the release.
The Senate passed the updated bill on June 28, but BofA
noted that “more last-minute changes and amendments” remain possible before it
moves to the House.
Prices for goods made in China and sold on Amazon.com (NASDAQ:AMZN) have
been rising faster than overall inflation, according to an analysis of 1,400
different products conducted exclusively for Reuters by the analytics firm DataWeave, a sign that tariffs are starting to hit American
consumers.
The analysis shows that price increases for those goods accelerated
beginning in May, a signal U.S. President Donald
Trump’s tariffs are starting to filter through to consumers. The median price
of a basket of more than 1,400 products made in China and sold on Amazon.com to
U.S. buyers has gone up by 2.6% between January and mid-June, outpacing the
latest U.S. inflation rate for core goods, which runs only through May.
For
internal use only