S&P 500 Index ($ SPX,detective) On Thursday +0.80%shut down, Dow Jones Industrial Index ($ Dovi,DIA) Close +0.94%, and nasdaq 100 index ($ IUXX,Qqqq) Closed +0.94%. September e-mine S&P Fucers (Esu25) Rose +0.75%, and September e-mine nasdac futures (Nqu25) Rose +0.92%.

The stock index posted the S&P 500 at a height of 4 months on Thursday, posted Dow Jones Industrial at an altitude of 3-3/4 months, and NASDAQ 100 was posting a new all-time high. Strength among chip manufacturers promoted a broad market. Stock on Thursday also saw support from the news of strong-to-precedent claims, core capital goods order and pending domestic sales report.

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Equity prices were mainly supported as 10-year-old T-Note yield fell at a two-month low on a Wall Street Journal report that President Trump could declare the replacement of Fed Chair Powell in early September, an unusually initial appointment. After the criticism of Pavel to keep the interest rates stable, reinforced the expectations of a more destructive fed. Because Pavel’s term ends in May 2026, the announcement of a new Fed chair compared to the traditional 3-4 months infection period may allow the chair-in-weighting to affect expectations about the potential path for interest rates.

On Thursday, there was news of an unexpected amendment for Q1 GDP on the negative side for shares. In addition, the May trade deficit was wider than expected, a negative factor for Q2 GDP.

The US weekly initial unemployment claims fell from 7,000 to 236,000, showing a strong labor market compared to the expectations of 243,000. However, the weekly continuous claims increased to 3–1/2 years above the expectations of 1.950 million, 3–1/2 years high of 1.974 million to 3–1/2 years, hinting to more people, living out of work for a long time.

The US Q1 GDP was revised to a low -0.5% (Q/Q annual), which was weaker than any change at -0.2% as Q1 personal consumption was revised from 1.2% to 0.5%. The Q1 Core PCE P -Price Index was modified more than +3.5% (Q/Q annual), which was stronger than the expectations of no change at +3.4%.

US Capital Goods New Order Nondifence X-Aircraft Rose +1.7% m/m, +stronger than expectations of +0.1% m/m and the biggest increase in 4 months.

America’s trade may trade deficit -was wider than expectations of $ 96.6 billion -$ 86.1 billion, a negative factor for Q2 GDP.

America can be pending home sales +1.8% m/m, +stronger than expectations of 0.1% m/m.

Richmond Fed Chairman Barkin said he hoped that tariffs would pressurize the prices upwards, and with much more uncertainty, he is waiting for more clarity before adjusting the interest rates.

San Francisco Fed President Daily said that she is looking at the increased evidence that tariffs cannot increase a large or continuous inflation, which supports their approach that the fed may start cutting interest rates again in the fall.

The markets of this week will see to see if the ceasefire is between Israel and Iran. In addition, any new tariff news or business deals will be examined. Friday may be personal expenses (expected +0.1% m/m) and personal income (expected +0.3% m/m). In addition, on Friday, May Core PCE Price Index, Fedependent Price Gauge, +0.1% m/M and +2.6% y/y is expected to increase. Finally, Friday’s June University of Michigan US Consumer Sentment Index is expected to be amended less than 60.3 by -0.2 points.

Federal Fund Futures prices are giving up 21% probability for cutting 25 BP rate in July 29-30 FOMC meeting.

Foreign stock markets became mixed on Thursday. Euro Stoxx closed down 50 -0.15%. China’s Shanghai Composite fell from a height of 6–1/4 ​​months and closed down -0.22%. Japan’s Nikkei Stock 225 rallied at an altitude of 4-3/4 months and closed +1.65%.

Interest rates

September 10-Year’s T-Rots (Znu25) On Thursday, he increased from +12.5 ticks and posted a 2 -month high. The yield of 10-year T-Note-5.1 BP fell to 4.240% and posted a new 2-math less.

On the Wall Street Journal report, T-Note prices increased that President Trump considered the nomination of Fed Chair Powell’s successor in early September, well before his term ends in next May, making them a lame duck and stuck that interest rates may eventually fall faster than markets. The Q1 GDP was also supported after reducing the GDP.

T-notes limited the profit to limit the profit-to-first early claims, core capital goods order and pending home sales reports. In addition, the Q1 core PCE Price Price Index was a recession for the upward amendment T-notes. In addition, Hawkish comments by Richmond Fed President Barkin weighed T-Nots when he said he was waiting for more clarity before adjusting interest rates. Supply pressure was negative for T-Nots as the Treasury auctioned $ 44 billion 7-year-old T-notes.

The yield of European government bonds became mixed. 10 -year -old German Bund yield +0.4 bp rose to 2.569%. 10 -year -old UK gilt yield -0.9 BP fell to 4.472%.

German June GFK Consumer Confidence Index unexpectedly fell from -0.3 to -20.3, weakened by hopes of growth of -19.2.

In the July 24 policy meeting, the ECB is exempting the possibility of 9% for the ECB -25 BP rate cut.

US Stock Movers

Power among chip manufacturers promoted technology shares and overall markets. Marvel technology (Mrvl) NASDAQ 100 rallies to lead beneficiaries in 100 rallies. Broadcom (Evgo) +2%off. Qualcomm (Talent), Intel (commission), Analog device (Etcetera), And kla corp (Klac) All closed more than +1%.

Micron technology (MU) Initially held a rally after reporting a strong-to-submitted Q3 EPS and an enthusiastic forecast for the current quarter inspired by the demand for artificial intelligence equipment. However, Micron fell back and closed the day approximately -1%.

Managed healthcare stocks moved higher. Cigna Group (CI) +4%closed. CVS Health (CVS) +2%off. Universal health services (UHS) And HCA Healthcare (HCA) About +1%closed.

Copper mining stocks showed strength, in which Comex Copper prices shut down at a new 2-3/4-month height and +2.55%. Southern copper (SCCO) +7%closed, Freeport McMoron (Cacical) +6%off, and Rio Tinto PLC (Rio) +3%off.

McCormic and Cum (McC)) Following +5% rallies after reporting of Q2 EPS of 69 cents, better than $ 3.02 of $ 3.03- $ 3.08 above $ 3.02 than $ 3.02.

Sandisk Corp (Snadak) Citygroup stopped the purchase recommendation and the start of the stock coverage with a price target of $ 57 +0.40%.

Trust Financial Corp (TFC) Citragroup closed more than +2% after upgrading the stock to buy from neutral with a price target of $ 55.

Equinix Inc. (Ekix) BMO Capital Markets fell over -9% to lead the losers in the S&P500 after downgrating the stock for market performance from outperform.

Unity software (You) Bank of America Global Research fell more than -3% after the start of the coverage of the stock with a recommendation of the underperform and the price target of $ 15.

Trade desk (TTD) After Wales Fargo Securities downgrade the stock for equal weight from overweight, Nasdaq fell more than -2% to lead losing in 100.

Kratos defense and safety solutions (Ktos) After the announcement, it fell more than -2% that it intends to sell shares of $ 500 million of its normal stock in a winter offering.

Jeffreys Financial Group (JEF) Weak unanimously by 44 cents, despite reporting of Q2 EPS of 40 cents +0.30% rose.

Earning Report (6/27/2025)

APOGEE ENTERPRIESES INC (APOG) and immersion corp (immr).

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