Reports say Trump failed to reach a deal on SALT during a Republican meeting yesterday. There are also reports that Israel may take action against Iran on its own. Stock indexes keep rising, but bond yields are also going up. In June, a large number of bonds will need to be rolled over, adding pressure.
The market has hit resistance for three days near the level where Trump’s rally began. Today, futures opened lower again. SPY around $595 is a key level—if it breaks above fast, the next target is the previous high area. Futures have pulled back again to the $588–586 zone. If that breaks, the gap from last week after the ZM deal could be tested.
Stocks to watch:
• Musk said in an interview that Tesla may start small-scale Robotaxi deployment by the end of next month. If it works, they may expand to thousands of units. TSLA failed to break its recent range yesterday. Watch $330–350 for the next move.
• UNH, under pressure lately, bounced for three days after executives stepped in to buy shares. But news says the company secretly paid nursing homes to avoid hospital transfers. The stock dropped again and may stay in a $250–340 range for a while.
• TGT reported weak earnings and sales, cut its full-year outlook, and blamed tariffs and DEI issues. The stock fell 7%. VFC missed on revenue (-13%), while GOOS saw a profit rise (+13%).
• MSFT and GOOGL shared new AI projects this week, but their stocks are stuck. MSFT faces resistance at $460, GOOGL near $170. Also, industrial leaders are strong lately, while financials have slowed down at high levels. Keep an eye on these sectors during the day.
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