Schaeffer's Top Stock Picks for '25

Stock Futures Rise Despite Tension-Filled Headlines

President Trump has vowed to deploy the military if U.S. protests continue

Deputy Editor
Jun 2, 2020 at 9:22 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJI) futures are up around 150 points above fair value this morning, despite dipping overnight in the wake of U.S. President Donald Trump's statement that he will deploy the military if protests around the country continue. As investors focus on states easing lockdowns, futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are both hovering above fair value, though many remain wary of civil unrest and U.S.-China tensions. Last night, New York Gov. Andrew Cuomo issued a curfew from 11 p.m. to 5 a.m. in New York City, in an effort to quell protests.

Continue reading for more on today's market, including: 

  • Schaeffer's Senior V.P. of Research Todd Salamone breaks down the SPX and VIX levels to watch.
  • Energy Transfer stock gained yesterday despite job cuts.
  • Plus, Wells Fargo pumps the brakes on LULU; Slack sees an upgrade; and Marriott opens its hotels in China.

Stock Futures Chart June 2

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.3 million call contracts traded on Monday and 609,643 put contracts. The single-session equity put/call ratio fell to 0.46, and the 21-day moving average slipped to 0.55.
  2. Lululemon Athletica Inc (NASDAQ:LULU) is down 0.8% ahead of the bell, after Wells Fargo downgraded the athleisure retailer to “equal weight” from “overweight,” with an added price target raise to $275 from $250. The analyst in coverage cited the stock’s risk/reward profile is balanced amid the coronavirus environment. LULU is up around 41% in the last monthly period after reaching an all-time high of $310.22 yesterday. 
  3. The shares of Slack Technologies Inc (NYSE: WORK) are up 5.7% before the open, after Cowen & Company initiated coverage with an "outperform" rating and price target of $45. In addition, Wells Fargo hiked its price target to $41 from $30. WORK is up 65% in 2020 going into today.
  4. Marriott International Inc (NASDAQ:MAR) stock is up 1.7% ahead of the bell, after the company's CEO announced last night that it was reopening all of its hotels in China. The hotel stock is down 37.2% in 2020, and will face off with its 80-day moving average today.
  5. Today will feature motor vehicle sales. Additionally, Dick's Sporting Goods, GameStop (GME), Tiffany & Co, and Zoom Video (ZM) will enter the earnings confessional

Buzz Chart June 2

Stocks in Asia Continue Rally as Lockdown Measures Ease

Stocks in Asia closed higher on Tuesday, after coronavirus-related containment measures were eased, leaving investors excited about the reopening of economies. Japan’s Nikkei tacked on 1.2%, as shares of financial giant Softbank Group extended Monday’s gains. Meanwhile, Hong Kong’s Hang Seng and South Korea’s Kospi both added 1.1%, and China’s Shanghai composite gained 0.2%.

Stocks in Europe are also climbing today, despite a backdrop of unrest in the U.S. and uncertainty around it’s growing tensions with China. Making the biggest splash across the pond this morning is the German DAX, last seen up 3.7%. Additionally, France’s CAC 40 is up 2.1%, while London’s FTSE 100 was last seen 1% higher. 

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?

 

 

(function(doc, script) { var js, fjs = doc.getElementsByTagName(script)[0], frag = doc.createDocumentFragment(), add = function(url, id) { if (doc.getElementById(id)) {return;} js = doc.createElement(script); js.src = url; id && (js.id = id); frag.appendChild( js ); }; // Google+ button //add('https://apis.google.com/js/platform.js', async="defer"); // Facebook SDK add('//connect.facebook.net/en_US/all.js#xfbml=1&appId=772755279557744', 'facebook-jssdk'); // Twitter SDK //add('//platform.twitter.com/widgets.js', charset='utf-8'); fjs.parentNode.insertBefore(frag, fjs); }(document, 'script'));