🌅 Today's Morning Call
|
S&P Futures
7,431.25
▼ -12.75 (-0.17%)
|
Nasdaq Futures
29,260.00
▼ -101.75 (-0.35%)
|
Dow Futures
50,010.00
▼ -12.00 (-0.02%)
|
|
10Y Treasury
4.57%
▼ -0.09%
|
US Dollar
99.33
▲ +0.14 (+0.15%)
|
Bitcoin
$77,113
▼ -$363 (-0.47%)
|
Data as of 8:08 AM ET
Good morning! Thursday, May 21 is starting on a cautious note, with futures pointing modestly lower across the board as a pair of blockbuster headlines fight for the spotlight. Walmart is flashing a yellow light on the American consumer, while Eli Lilly just handed the obesity drug race a new frontrunner. Two very different stories, one shared market. Here is what you need to know before the opening bell.
👀 What to Watch Today
The headline risk today is concentrated in consumer discretionary and healthcare. Walmart's (WMT) downward revision to its outlook lands front and center, and traders will be parsing every word for clues about where the American shopper actually stands right now. High gas prices eating into grocery budgets is not a small signal, it is a macro warning light.On the policy front, two separate government spending announcements are worth tracking. The Trump administration is pushing a $2 billion quantum computing investment with equity stakes going to nine firms, and a separate export financing program designed to accelerate foreign adoption of U.S. AI tools. Neither has specific tickers attached yet, but quantum and AI-adjacent names will get attention.
Treasury yields are pulling back slightly, with the 10-year sitting at 4.57% and the 30-year at 5.12%. That modest easing could provide a small cushion for rate-sensitive sectors like real estate and utilities if equity pressure builds through the session.
Your Phone Is Smarter Than Your Inbox
Not every market move can wait. Our text alerts deliver the ones that can't. One short alert, straight to your phone, when something is worth seeing now. No fluff. No noise. No charge.
Text Me the Alerts🌏 Overnight Recap
Overnight, the big pharmaceutical headline out of Eli Lilly (LLY) dominated chatter across global markets. The company reported that its trial drug retatrutide helped obesity patients shed more than 28% of their body weight over 18 months. That is a staggering number, and it pushes LLY meaningfully closer to a potential approval that could reshape the already crowded but fast-growing GLP-1 landscape.Over in the auto sector, Stellantis (STLA) CEO Antonio Filosa unveiled a sweeping five-year plan valued at roughly $70 billion, targeting $6 billion in annual cost savings and positive cash flow by 2028. It is an ambitious reset for a company that has faced significant headwinds, and markets will judge whether the math is believable. Meanwhile, Airbus (EADSY) shares took a hit on fresh reports of A350 delivery delays tied to ongoing supply chain disruptions.
The dollar index (DXY) ticked up to 99.33 overnight, and Bitcoin slipped to around $77,113, off roughly half a percent. Neither move is dramatic, but the modest dollar strength adds a small layer of pressure on multinationals reporting in U.S. dollars.
Sponsored Content
Futurist Eric Fry says it will be a "Season of Surge" for these three stocks
One company to replace Amazon… another to rival Tesla… and a third to upset Nvidia. These little-known stocks are poised to overtake the three reigning tech darlings in a move that could completely reorder the top dogs of the stock market. Eric Fry gives away names, tickers and full analysis in this first-ever free broadcast.
📊 Pre-Market Movers
Eli Lilly (LLY) is the pre-market standout after that jaw-dropping 28% weight loss data from the retatrutide trial. The stock was already carrying high expectations into 2026, and this result gives bulls fresh ammunition. Competitors in the obesity space, including Novo Nordisk, will also draw attention as the competitive landscape shifts.Walmart (WMT) is under pressure after missing first-quarter expectations and cutting its outlook. The culprit is familiar: high gas prices squeezing shoppers before they even reach the checkout line. Consumer staples peers may see sympathy pressure as the market reassesses near-term spending resilience.
Kontoor Brands (KTB) is in focus after confirming the sale of its Lee denim brand to Authentic Brands Group for up to $1 billion, with $750 million upfront. That is a clean balance sheet move, and the market will decide quickly whether Kontoor is leaner and meaner, or simply smaller.
🔍 Today's Watchlist
- WMT: Watch for analyst reactions to the lowered guidance and any commentary on consumer spending trends at the open
- LLY: Retatrutide trial data is a major catalyst. Pre-market strength could extend if institutional buyers pile in early
- AMD: A $10 billion Taiwan AI investment is a long-term commitment. Watch for analyst upgrades or PT revisions today
- 10-Year Treasury at 4.57%: Any shift here will ripple through rate-sensitive sectors and growth stocks alike
- Quantum computing names: The $2B U.S. government investment program could trigger sector-wide momentum plays
Sponsored Content
Trump's $250,000/Month Secret Exposed
While President Trump's official salary is $400,000 per year... his tax returns reveal he's been collecting up to $250,000 PER MONTH from one hidden source. Until recently, most Americans couldn't touch the type of investment that makes up this investment. But thanks to Executive Order 14330, that just changed. If you love investing in disruptive new companies...
🎯 The Morning Playbook
The setup for Thursday is a tug-of-war between genuine innovation excitement and real consumer fatigue. LLY gives the bulls a genuine reason to stay engaged, but WMT's warning is not something you paper over easily. When the largest retailer in the country says shoppers are pulling back, you listen.The AMD (AMD) Taiwan announcement and the government's AI export financing push are longer-duration stories, not one-day trades. If you are positioned in AI infrastructure names, today may bring noise but not necessarily a directional move. Stay patient on those.
The smartest play on a day like this is selectivity. Not every sector deserves the same reaction to a cautious macro backdrop. Healthcare innovation and AI spending are holding up for structural reasons. Discretionary consumer names tied to value spending deserve a second look before adding. Stay curious, stay specific, and let the data do the talking.
📰 Further Reading
Better than SpaceX? Grab this ticker instead. (Ad)
Larry Benedict generated $274 million for his clients by finding the trade most missed. He says The Final Phase of Elon's Master Plan is about to trigger one of the biggest wealth transfers in market history. He's already identified the ONE ticker positioned to capture it. It isn't SpaceX, Tesla, or...
Click here to get the full details before the window closes.
What Is Trump's "Project 2026"? (Ad)
A hedge fund legend who went 20 years without a losing year says "Project 2026" is Trump's biggest move yet. Bigger than Liberation Day. Bigger than his tariff wars. Bigger than anything he did in 2025. Larry Benedict predicts it could move hundreds of billions of dollars… creating new winners and l...
Click here to discover what "Project 2026" is… and get the ticker while you're still early.
Navellier Warns: This Could Leapfrog Elon's SpaceX IPO (Ad)
Elon Musk could take SpaceX public in 2026, at an estimated $1.75 trillion valuation. The IPO would include Elon's AI model, Grok. But according to Louis Navellier, a radical new AI model will launch this year… over 1,000 times more powerful than Elon's. And the company behind it could outperform Sp...
Click here for full details (including Louis' new pick — free).