{"id":24658,"date":"2025-03-10T05:57:29","date_gmt":"2025-03-10T10:57:29","guid":{"rendered":"https:\/\/www.eoption.com\/morning-preview-march-10-2025\/"},"modified":"2025-03-10T05:57:29","modified_gmt":"2025-03-10T10:57:29","slug":"morning-preview-march-10-2025","status":"publish","type":"post","link":"https:\/\/www.eoption.com\/morning-preview-march-10-2025\/","title":{"rendered":"Morning Preview: March 10, 2025"},"content":{"rendered":"\n
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Early Look<\/span><\/b><\/p>\n

Monday, March 10, 2025<\/span><\/b><\/p>\n\n\n\n\n\n\n
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Futures<\/span><\/p>\n<\/td>\n

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Up\/Down<\/span><\/p>\n<\/td>\n

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%<\/span><\/p>\n<\/td>\n

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Last<\/span><\/p>\n<\/td>\n<\/tr>\n

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Dow<\/span><\/b><\/p>\n<\/td>\n

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-364.00<\/span><\/p>\n<\/td>\n

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0.85%<\/span><\/p>\n<\/td>\n

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42,474<\/span><\/p>\n<\/td>\n<\/tr>\n

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S&P 500<\/span><\/b><\/p>\n<\/td>\n

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-59.25<\/span><\/p>\n<\/td>\n

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1.03%<\/span><\/p>\n<\/td>\n

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5,716<\/span><\/p>\n<\/td>\n<\/tr>\n

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Nasdaq<\/span><\/b><\/p>\n<\/td>\n

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-238.50<\/span><\/p>\n<\/td>\n

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1.18%<\/span><\/p>\n<\/td>\n

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19,991<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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US<\/span> stock futures fall solidly overnight as investors remain concerned about macro issues (tariffs, inflation, interest rates) ahead of a busy week of economic data, headlined by a report on inflation (CPI<\/span> Wednesday and PPI<\/span> on Thursday). Recession fears arising for the US economy after President Donald Trump said he hates “to predict things” when asked if a recession was coming (Barron’s). S<\/span>&P and Nasdaq futures are down over 1% after U.S. stock markets sunk again last week, kicking off the new month where February concluded as the S&P 500 and Nasdaq Composite posted their third straight week of losses, longest losing streak since mid-July-early August. The S&P 500 registered its biggest weekly percentage decline since September down -3.08% while Nasdaq down -3.45%, Dow down -2.37% and the Russell 2000 was -3.89%. The week also saw the Nasdaq enter “correction” territory, defined as a 10% pullback from its recent highs (in mid-December), while the S&P 500 dropped below its pivotal 200 day moving average (dma) both Thursday and Friday before settling just above the end the week. Smallcap Russell 2000 is down nearly 15% from its all-time highs and is down nearly 7% for the year. <\/span><\/p>\n

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Lots of important data this week as investors get to digest the February CPI<\/span>\/PPI<\/span> data as well as JOLTs, University of Michigan Sentiment\/Inflation Expectations as well as the NY Fed 1-year Inflation expectations. Headline CPI<\/span> is expected to fall to 2.9% y\/y from 3% and Core to drop 0.1% to 3.2%. Oil prices are little changed but remain under pressure this month as U.S. import tariff concerns raise fears for global economic growth, exacerbated by planned OPEC<\/span>+ output hikes. Bitcoin prices hit lows just above $80,000 overnight, down -5% as risk assets under pressure. The dollar index (DXY<\/span>), a measure of the greenback against a basket of peers, is down -0.23% to 103.60, down 2.6% over the past five days and has dropped 4% in the past month. In Asian markets, The Nikkei Index gained 141 points to 37,028, the Shanghai Index dipped -6 points to 3,366, and the Hang Seng Index fell -447 points to 23,783. In Europe, the German DAX<\/span> is down -187 points to 22,821, while the FTSE 100 is down -37 points to 8,642.<\/span><\/p>\n

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Several S<\/span>&P index announcements were made late Friday afternoon: <\/span><\/b><\/p>\n

1) Palantir Technologies Inc. (PLTR<\/span>), Intuitive Surgical Inc. (ISRG<\/span>) and ServiceNow Inc. (NOW<\/span>) will replace Dow Inc. (DOW<\/span>), Kraft Heinz Company (KHC<\/span>) and Ford Motor Co. (F<\/span>) in the S&P 100, respectively. All companies being removed from the S&P 100 will remain in the S&P 500. <\/span><\/p>\n

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2) DoorDash Inc. (DASH<\/span>), S<\/span>&P MidCap 400 constituents TKO<\/span> Group Holdings Inc. (TKO<\/span>), Williams-Sonoma Inc. (WSM<\/span>) and Expand Energy Corp. (EXE<\/span>) will replace BorgWarner Inc. (BWA<\/span>), Teleflex Inc. (TFX<\/span>), Celanese Corp. (CE<\/span>) and FMC<\/span> Corp. (FMC<\/span>) in the S&P 500 respectively. <\/span><\/p>\n

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3) S<\/span>&P SmallCap 600 constituents VF<\/span> Corp. (VFC<\/span>), Alaska Air Group Inc. (ALK<\/span>) and Hims & Hers Health Inc. (HIMS<\/span>), will replace TKO<\/span> Group Holdings, Williams-Sonoma and Expand Energy in the S&P MidCap 400 respectively. Teleflex, Celanese, FMC<\/span> and BorgWarner will replace VF<\/span>, Alaska Air Group, Hims & Hers Health, and Ambac Financial Group Inc. (AMBC<\/span>) in the S&P SmallCap 600, respectively. <\/span><\/p>\n

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4) S<\/span>&P SmallCap 600 constituents Bath & Body Works Inc. (BBWI<\/span>), ATI<\/span> Inc. (ATI<\/span>) and EchoStar Corp. (SATS<\/span>) will replace The Chemours Co. (CC<\/span>), Teradata Corp. (TDC<\/span>) and Neogen Corp. (NEOG<\/span>) in the S&P MidCap 400 respectively. Chemours, Teradata and Neogen will replace Bath & Body Works, ATI<\/span> and EchoStar in the S&P SmallCap 600 respectively. <\/span><\/p>\n

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5) Ryman Hospitality Properties Inc. (RHP<\/span>), Element Solutions Inc. (ESI<\/span>), Freshpet Inc. (FRPT<\/span>), WillScot Holdings Corp. (WSC<\/span>), Mueller Water Products (MWA<\/span>), Kratos Defense & Security Solutions Inc. (KTOS<\/span>) and CleanSpark Inc. (CLSK<\/span>) will replace Wabash National Corp. (WNC<\/span>), Green Dot Corp. (GDOT<\/span>), Fulgent Genetics Inc. (FLGT<\/span>), Nabors Industries Ltd (NBR<\/span>), Green Plains Inc. (GPRE<\/span>), Mativ Holdings Inc. (MATV<\/span>) and Hain Celestial Group Inc. (HAIN<\/span>) in the S&P SmallCap 600 respectively.<\/span><\/p>\n

 <\/p>\n

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Market Closing Prices Yesterday<\/p>\n

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  • The S&P 500 Index<\/span><\/b> <\/span>climbed 31.68 points<\/span>, or 0.55%, to 5,770.20.<\/span><\/li>\n<\/ul>\n<\/div>\n
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    • The Dow Jones Industrial Average<\/span><\/b> <\/span>rose 222.64 points<\/span>, or 0.52%, to 42,801.72.<\/span><\/li>\n
    • The Nasdaq Composite <\/span><\/b>gained 126.97 points<\/span>, or 0.70%, to 18,196.22.<\/span><\/li>\n
    • The Russell 2000 Index<\/span><\/b> <\/span>advanced 8.93 points<\/span>, or 0.43% to 2,075.48.<\/span><\/li>\n<\/ul>\n
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      Economic Calendar for Today<\/p>\n

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      • 10:00 AM<\/span> ET<\/span>                Employment Trends for February<\/li>\n<\/ul>\n<\/div>\n
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        Earnings Calendar: <\/p>\n

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        • Earnings Before the Open: FNV<\/span> GNE<\/span> NPWR<\/span> TLS<\/span> URGN<\/span> WLFC<\/span><\/li>\n<\/ul>\n<\/div>\n
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          • Earnings After the Close: ASAN<\/span> AVO<\/span> FTK<\/span> GAIA<\/span> HPK<\/span> LMB<\/span> MTN<\/span> NX<\/span> ORCL<\/span> PAY<\/span> RDW<\/span> <\/li>\n<\/ul>\n
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            Other Key Events: <\/p>\n

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            • Barclays Leisure, Transport & Business Services Conference, 3\/10 in London<\/li>\n<\/ul>\n<\/div>\n
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              • Deutsche Bank 33rd Annual Media, Internet & Telecom Conference, 3\/10-3\/12 in Palm Beach, FL<\/li>\n
              • Goldman Sachs 13th Annual Latin America Financials Conference, 3\/10-3\/11, in London<\/li>\n
              • Loop Capital Markets Investor Conference, 3\/10-3\/11, in New York<\/li>\n
              • Piper Western Bank Forum, 3\/10-3\/11, at Ritz Carlton, Marina Del Rey Ca.<\/li>\n<\/ul>\n

                 <\/span><\/p>\n

                 <\/span><\/p>\n\n\n\n\n\n\n\n\n\n
                \n

                Macro<\/span><\/p>\n<\/td>\n

                		\n

                Up\/Down<\/span><\/p>\n<\/td>\n

                		\n

                Last<\/span><\/p>\n<\/td>\n<\/tr>\n

                \n

                Nymex<\/span><\/b><\/p>\n<\/td>\n

                		\n

                0.02<\/span><\/p>\n<\/td>\n

                		\n

                67.06<\/span><\/p>\n<\/td>\n<\/tr>\n

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                Brent<\/span><\/b><\/p>\n<\/td>\n

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                0.11<\/span><\/p>\n<\/td>\n

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                70.47<\/span><\/p>\n<\/td>\n<\/tr>\n

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                Gold<\/span><\/b><\/p>\n<\/td>\n

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                -7.10<\/span><\/p>\n<\/td>\n

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                2,907.00<\/span><\/p>\n<\/td>\n<\/tr>\n

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                EUR\/USD<\/span><\/b><\/p>\n<\/td>\n

                		\n

                0.003<\/span><\/p>\n<\/td>\n

                		\n

                1.0862<\/span><\/p>\n<\/td>\n<\/tr>\n

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                JPY\/USD<\/span><\/b><\/p>\n<\/td>\n

                		\n

                -1.03<\/span><\/p>\n<\/td>\n

                		\n

                146.99<\/span><\/p>\n<\/td>\n<\/tr>\n

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                10-Year Note<\/span><\/b><\/p>\n<\/td>\n

                		\n

                -0.071<\/span><\/p>\n<\/td>\n

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                4.247%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

                 <\/span><\/p>\n

                \n

                World News<\/p>\n

                  \n
                • Mark Carney is set to become Canada’s new prime minister in the middle of a tough economic situation for his country amid Trump’s persistent tariff threats, as Justin Trudeau steps down.<\/li>\n<\/ul>\n<\/div>\n
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                  • HSBC downgrades U.S. stocks to neutral and upgrades Europe (ex-UK) to overweight citing the U.S. downgrade due to market factors pricing in a “mini earnings recession” in early 2025, while the European upgrade is driven by game-changing fiscal stimulus in the Eurozone.”<\/li>\n<\/ul>\n
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                    Sector News Breakdown<\/p>\n

                    Consumer<\/p>\n

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                    • QXO (QXO<\/span>)<\/b> is in discussions about a potential $11 billion deal for Beacon Roofing Supply (BECN), the companies said on Monday; Beacon Roofing Supply in discussions about potential combination in which QXO would acquire beacon for $124.35 per share in cash.<\/li>\n<\/ul>\n<\/div>\n
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                      • Uber (UBER<\/span>)<\/b> and Lyft (LYFT<\/span>)<\/b> dominate ride-hailing in North America, a position that has helped them turn cash-burning operations into moneymakers. Now Bolt, an Uber rival in Europe and Africa, is trying to undercut the two ride-hailing companies in their home markets, The Information reported.<\/li>\n
                      • Xpeng (XPEV<\/span>)<\/b> Chairman He Xiaopeng said on Saturday the company plans to mass-produce its modular flying car for the first time in 2026.<\/li>\n
                      • Yum China Holdings (YUM<\/span>)<\/b> named Adrian Ding chief financial officer, removing the interim tag he has carried since October. Yum China on Monday said the appointment comes after a thorough search process following the resignation of its former finance chief, Andy Yeung.<\/li>\n<\/ul>\n
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                        Energy, Industrials and Materials<\/p>\n

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                        • Franco-Nevada (FNV<\/span>)<\/b> Q4 adj EPS $0.95 vs. est. $0.89; Q4 revs rose 6% y\/y to $321M vs. est. $304.44M; said expect 2025 revenue to be more than 25% higher than in 2024 based on budgeted gold price of $2,800\/oz and the mid-point of our Total GEOs guidance range provided.<\/li>\n<\/ul>\n<\/div>\n
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                          • Grainger (GWW<\/span>)<\/b> and Fastenal (FAST<\/span>)<\/b> both upgraded to Outperform from Market Perform at William Blair<\/li>\n
                          • Knight-Swift (KNX<\/span>)<\/b> upgraded to Neutral from Sell at Citigroup.<\/li>\n
                          • Sherwin-Williams (SHW<\/span>)<\/b> downgraded to Hold from Buy at Jefferies<\/li>\n
                          • Whitecap Resources (WCP<\/span>.TO)<\/b> said on Monday it will merge with Veren (VRN<\/span>)<\/b> in an all-share transaction including debt to form a $15 billion company.<\/li>\n<\/ul>\n
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                            Financials<\/p>\n

                              \n
                            • UDR Corp (UDR<\/span>)<\/b> downgraded to Hold from Buy at Truist saying shares appear fully valued.<\/li>\n<\/ul>\n<\/div>\n
                              \n

                              Healthcare<\/p>\n

                                \n
                              • Beam Therapeutics (BEAM<\/span>)<\/b> pricing of underwritten offering of 16.2M shares at price $28.48 per share.<\/li>\n<\/ul>\n<\/div>\n
                                  \n
                                • DexCom (DXCM<\/span>)<\/b> receives a warning letter from FDA following inspections late Friday; says doesn’t expect material impact on FY25 rev guidance.<\/li>\n
                                • Nordisk (NVO<\/span>)<\/b> announced headline results from REDEFINE 2, a phase 3 trial in the global REDEFINE program. REDEFINE 2 is a 68-week efficacy and safety trial investigating once-weekly subcutaneous CagriSema (compared to placebo. The trial included 1,206 randomized people with obesity or overweight and type 2 diabetes and a mean baseline body weight of 102 kg. The trial achieved its primary endpoint by demonstrating a statistically significant and superior weight loss at week 68 with CagriSema versus placebo.<\/li>\n
                                • Trevi Therapeutics, Inc. (TRVI<\/span>),<\/b> announced results from its Phase 2a RIVER trial of Haduvio for the treatment of patients with RCC (N=66). Haduvio met the primary endpoint with a statistically significant reduction in the objective 24-hour cough frequency of 67% from baseline and 57% on a placebo-adjusted basis (p<0.0001).<\/li>\n<\/ul>\n
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                                  Technology, Media & Telecom<\/p>\n

                                    \n
                                  • Cognizant Technology (CTSH<\/span>)<\/b> shares rose late Friday after the Wall Street Journal reported that activist investor Mantle Ridge has built a stake of over $1 billion in CTSH, Mantle Ridge believes Cognizant’s shares undervalued; it started buying shares in the second half of 2022 according to the report.<\/li>\n<\/ul>\n<\/div>\n
                                      \n
                                    • DocuSign (DOCU<\/span>)<\/b> upgraded to Neutral from Underweight at JPMorgan.<\/li>\n
                                    • NVent (NVT<\/span>)<\/b> said it will acquire the electrical products group business of Avail Infrastructure Solutions for $975M; expects acquisition to be accretive to EPS in first year.<\/li>\n
                                    • Perion Network (PERI<\/span>) <\/b>expands share repurchase program to $125M<\/li>\n
                                    • Taiwan Semiconductor (TSM<\/span>)<\/b> February revenue rose 43% on year to NT$260.01B; February revenue fell 11% on month; January-February revenue NT$553.30b, up 39% on year.<\/li>\n<\/ul>\n<\/div>\n

                                      <\/p>\n