My top 10 things to watch Thursday, July 3 1. Wall Street is set for a higher open after better-than-expected June job creation.
The S & P 500 closed at another record high yesterday as President Donald Trump announced a Vietnam trade deal.
Investors are also watching House voting on the Trump-backed megabill of spending and tax cuts. Stock market closes early today and is closed tomorrow for the Fourth of July.
The government this morning reported 147,000 nonfarm job additions for last month. The unemployment rate dipped to 4. 1% versus expectations of a slight rise 4.
The data makes it tougher for Trump to argue for a Fed interest rate cut. Lifted China trade curbs on Cadence and Synopsys.
They make electronic design automation software needed for the most advanced Nvidia chips. Name Nvidia also works directly with them for its software.
Speaking of China, quarterly sales of Apple iPhones there grew for the first time in two years. Bank of America analysts revealed their best stock ideas for the third quarter.
Among the names are Cisco Systems and Boeing. They are in the Bullpen, which is our watch list for the. Wells Fargo raised its price target on name BlackRock to $1,180 a from $1,105.
The analysts, who kept their buy-equivalent rating, expect an OK quarter. BlackRock reports on July 15 when financials kick off earnings.
The Financial Times explains how Goldman Sachs was the biggest winner of easier Fed stress tests. That echoed our ary yesterday after names Goldman and Wells Fargo announced big dividend hikes.
Needham upgraded name Meta Platforms to hold from an underperform sell rating. No price target was given. The analysts cited positive channel checks but are worried margin risk.
Citi analysts opened an "upside 90-day catalyst watch" on name DuPont. They also raised their price target on the stock to $85 from $75.
Citi sees less tariff pressure than its analysts had previously thought. Goldman Sachs raised its Tesla price target to $315 from $285, basically matching yesterday's close.
Deries were meaningfully better Goldman analysts had forecast. They kept Tesla at a neutral rating.
Constellation Brands is not much worse, to be fair, and the Corona and Modelo brewer has great cash flow. But beer sales are not strong due to ICE raids, GLP-1s, gummies, and health concerns.
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