🌅 Pre-Market Pulse
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S&P Futures
7,785.75
▲ +22.25 (+0.29%)
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Nasdaq Futures
30,917.25
▲ +127.00 (+0.41%)
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Dow Futures
51,809.00
▲ +91.00 (+0.18%)
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10Y Treasury
5.16%
▲ +0.05%
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US Dollar
101.04
▼ -0.23 (-0.23%)
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Bitcoin
$84,870
▲ +$484 (+0.57%)
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Data as of 7:07 AM ET
Good morning! Happy Friday, and welcome to the last trading day of the week. Futures are pointing higher across the board, with a surprise jump in China's US orders setting an optimistic tone ahead of the much-anticipated Trump-Xi summit. Here's your morning rundown before the bell.
👀 What to Watch Today
The story dominating radars today is the upcoming summit between President Trump and President Xi Jinping. A private survey showing American businesses ramped up orders for Chinese goods in the weeks leading up to the meeting suggests companies are positioning for a potential thaw in trade tensions. Watch how that filters into industrials, retailers, and chip names with China exposure.Geopolitics stays front and center elsewhere too. President Zelenskiy said the EU and IMF recognize the need to help Ukraine cover its budget gap and defense spending, which could keep defense contractors and European sentiment in play.
With no blockbuster earnings on deck this morning, positioning and headlines will drive the tape. Keep an eye on how the summit narrative develops through the session.
🌏 Overnight Recap
Asian markets caught a lift overnight as that surprise uptick in Chinese exports to the US, rising both month over month and year over year, fed hopes that trade friction might ease at the Trump-Xi summit. Sentiment across the region leaned constructive heading into the meeting.European trading took cues from Ukraine headlines, with President Zelenskiy noting the EU and IMF understand the importance of financing Kyiv's budget deficit. That kept defense and aerospace names in focus across the continent.
Stateside, the backdrop is a curious mix: futures are green while Treasury yields tick higher, with the 10-year at 5.16% and the 30-year at 5.46%. The dollar softened to 101.04 on the DXY, and Bitcoin held firm near $84,870.
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📊 Pre-Market Movers
With a light earnings calendar, pre-market action is being shaped by macro headlines more than single-name catalysts. Chip and hardware names with heavy China revenue, think NVDA and AAPL, are worth watching given the surprise jump in US orders for Chinese goods ahead of the summit.Defense-linked stocks like LMT and RTX could see interest as Zelenskiy signals continued EU and IMF support for Ukraine's defense budget. Any concrete funding commitments may add fuel.
On the regulatory front, the arrest of Oxygen Forensics CEO Lee Reiber over concealed Russian ties is a reminder that compliance and national security scrutiny remains a live risk for tech firms doing cross-border business.
🔍 Today's Watchlist
- Trump-Xi summit developments and any signals on tariffs or trade policy.
- China-exposed names in tech and industrials reacting to the surprise US order data.
- Defense contractors as EU and IMF discuss Ukraine budget and defense financing.
- Rising Treasury yields: 10-year at 5.16%, 30-year at 5.46%, 5-year at 5.03%.
- Dollar weakness at 101.04 DXY and whether Bitcoin extends above $85K.
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🎯 The Morning Playbook
The play today is patience with a bullish lean. Futures are green, but the move is modest and driven by summit optimism rather than hard results, so avoid chasing early spikes until the Trump-Xi narrative clarifies.Lean into China-sensitive tech and industrials if trade sentiment holds, but keep an eye on those climbing yields. A 10-year at 5.16% and rising can quickly cap enthusiasm for rate-sensitive growth names.
Heading into the weekend, let the headlines lead rather than your emotions. Sometimes the smartest trade on a Friday is the one you skip. Have a great session.
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