The first wholesale inflation data after the tariff retaliation came out. April PPI unexpectedly dropped by 0.5% month-over-month, vs expectations of +0.3% and last month’s 0%. The annual rate fell to 2.4%, down from 3.4%. The 20-year Treasury yield touched the 5% mark.
Tomorrow is this month’s Options Expiration Day. We’ve been highlighting how sector flows could drive market moves. Index futures dipped slightly before the open.
Dow component Walmart (WMT) beat earnings estimates for the 12th straight quarter, but revenue came in slightly below forecast. The company warned that tariffs may push prices higher. The stock was flat in premarket.
Healthcare giant UnitedHealth (UNH) is under pressure again. After the CEO change, reports say the DOJ launched a fraud probe. The stock continued to drop. Back in April, when the market tanked, UNH was hitting record highs. Since earnings, it has been cut in half. Risk is everywhere.
Dick’s announced a $2.4B offer to buy Foot Locker (+83%). New data center IPO CRWV reported its first quarterly results: revenue grew 4x, but losses were bigger than expected. The company plans to invest $23B in AI infrastructure. The stock jumped early but then pulled back, ending down 4%.
SPY has failed to break above the $588 level (as noted premarket) for two days in a row. That remains the key resistance. On the downside, watch $583 first, then $577 if that breaks — the previous breakout area.
This week’s leaders are still the tech giants tied to Trump’s Middle East trade push. Chip stocks like NVDA and AMD are leading the charge. MSFT is near record highs, and TSLA is grinding higher. Boeing (BA) signed a big deal with Qatar and has been strong lately too. Most other sectors remain weak. In the short term, keep watching if these strong names can keep climbing.
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