🌅 Today's Morning Call
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S&P Futures
7,197.00
▲ +24.50 (+0.34%)
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Nasdaq Futures
27,449.50
▲ +35.75 (+0.13%)
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Dow Futures
49,312.00
▲ +541.00 (+1.11%)
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10Y Treasury
4.42%
▲ +0.06%
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US Dollar
98.36
▼ -0.63 (-0.64%)
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Bitcoin
$76,112
▲ +$337 (+0.44%)
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Data as of 8:08 AM ET
Good morning! April 30 is here, and the market is not going out quietly to close the month. Futures are firmly in the green across the board, with the Dow leading the charge up more than 1%, and a packed earnings calendar giving traders plenty to chew on before the opening bell. From Eli Lilly's weight-loss drug moment to Caterpillar's demand surge, here's your morning rundown.
👀 What to Watch Today
The headliner this morning is Eli Lilly (LLY), reporting Q1 earnings before the open. Wall Street has enormous expectations tied to Lilly's newly approved obesity medication, and this print could set the tone for the entire healthcare sector today. Any guidance commentary around GLP-1 drug demand will be scrutinized word by word.Beyond Lilly, keep an eye on currency markets after the Japanese yen surged roughly 2% overnight on strong intervention warnings from Tokyo officials. That move ripples into export-heavy multinationals and any ETFs with significant Japan exposure like BBJP and DFJ. A stronger yen historically pressures Japanese equities and can weigh on global risk appetite if the move accelerates.
Treasury yields are also climbing this morning, with the 10-year sitting at 4.42% and the 30-year knocking on the door of 5%. Rising yields paired with a weakening dollar (DXY down to 98.36) is an unusual combo worth watching as the session unfolds. Rate-sensitive sectors like utilities and real estate could feel some friction.
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Text Me the Alerts🌏 Overnight Recap
Overnight, the big macro story was out of Japan. Tokyo's finance minister issued pointed warnings about possible currency intervention as the yen was under pressure, and the currency responded immediately, jumping around 2%. For context, Japanese intervention threats tend to carry real weight, and traders in Asia took the signal seriously, pulling back on yen short positions fast.On the earnings front, several reports landed after the bell Wednesday or early this morning that are shaping pre-market sentiment. Caterpillar (CAT) posted stronger profits and a sales surge driven by persistent demand for construction equipment, engines, and generators, a genuine sign that industrial activity is holding up. L3Harris (LHX) also raised its full-year forecast after beating on both profit and revenue in Q1, citing growing weapons demand.
Meanwhile, Berkshire Hathaway (BRK-A, BRK-B) is holding its annual shareholder weekend in Omaha, and the energy in Nebraska is a little different this year. It is the first gathering since Warren Buffett officially stepped down after 60 years at the helm. Sentimental? Absolutely. But also a genuine transition moment for one of the most-watched companies on the planet.
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📊 Pre-Market Movers
Notable stocks are making moves in pre-market trading.🔍 Today's Watchlist
- LLY earnings before open: GLP-1 drug demand commentary is the key variable to watch
- CAT and LHX: strong industrial and defense prints could lift their sectors at the open
- Japanese yen and BBJP, DFJ: intervention risks may create volatility in Japan-linked ETFs
- 10-Year Treasury at 4.42% and 30-Year near 5%: rising yields plus a weak dollar is worth monitoring
- BRK-A and BRK-B: Berkshire annual meeting underway, post-Buffett narrative front and center
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