STOCKS/ECONOMY
-Stock futures are solidly lower after Wednesday's 486-point gain for the Dow, similar 1.1 percent rally for the S&P 500, and a 1.5 percent rise for the Nasdaq. Investors are whipsawing over tariff policies and some carve outs for auto industry on that tariff policy.
-The yield on the 10-year Treasury bond is at 4.27 percent.
-Gold is at the $2,908 per ounce level. Bitcoin is at the $90,000 level.
-Asian markets closed higher today, led by a 3.3 percent rally for the Hang Seng. The Nikkei gained 0.8 percent and the Shenzhen rose 1.8 percent.
OIL/ENERGY
-U.S. crude prices are up, but still at a 6-month low at the $66 a barrel level.
-Gasoline prices are up to $3.11 a gallon, national average.
TARIFF TWO-STEP
-President Trump has delayed the Canadian and Mexican import tariffs just for U.S. automakers for a month. The news pushed shares of General Motors (GM) up by 7 percent and Ford (F) up by 6 percent Wednesday. But this morning both companies' shares are down 2 percent in the premarket.
-Jack Daniel's parent company Brown-Forman (BF.b) is decrying reports that Canadian liquor store owners are pulling his company's products off the shelves in protest of the Trump tariffs. Brown-Forman shares are down 3 percent in the premarket.
DEPARTMENT STORE WOES
-Macy's (M) reported weaker than expected revenues for the Christmas season. Its shares are down 3 percent in the premarket.
TOUGH CROWD
-Chipmaker Marvell Technologies (MRVL) reported better than expected quarterly profits and revenues. But it wasn't enough of a beat to satisfy investors and Marvell shares are falling 18 percent in the premarket.
DEALS/NO DEALS
-7-11 parent company Seven and i Holdings, a Japanese firm, is replacing its CEO and restructuring the company in hopes of staving off a $47 billion takeover from Canada's Circle K parent Alimentation Couche-Tard.
NOT SO HOT
-LBGTQ dating and social media site Grindr (GRND) reported a $131 million loss for 2024; more than doubling its loss from 2023. Its shares are down 10 percent in the premarket.
-Lingerie retailer Victoria's Secret (VSCO) issued lighter-than-expected revenue guidance for the current quarter. Its shares are down 3 percent in the premarket.
dow futures down 430 points
tariff whipsaw automakers get a pause jack daniel’s crying
more retailer woes macy’s down 3, victoria’s down 3
even grndr is hurting doen 10%
7-11 47B circle k
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