{"id":24732,"date":"2025-03-27T05:56:04","date_gmt":"2025-03-27T10:56:04","guid":{"rendered":"https:\/\/www.eoption.com\/morning-preview-march-27-2025\/"},"modified":"2025-03-27T05:56:04","modified_gmt":"2025-03-27T10:56:04","slug":"morning-preview-march-27-2025","status":"publish","type":"post","link":"https:\/\/www.eoption.com\/morning-preview-march-27-2025\/","title":{"rendered":"Morning Preview: March 27, 2025"},"content":{"rendered":"\n
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Early Look<\/span><\/b><\/p>\n

Thursday, March 27, 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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81.00<\/span><\/p>\n<\/td>\n

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0.19%<\/span><\/p>\n<\/td>\n

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42,827<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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

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0.04%<\/span><\/p>\n<\/td>\n

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5,762<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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-13.50<\/span><\/p>\n<\/td>\n

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0.07%<\/span><\/p>\n<\/td>\n

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20,102<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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 <\/p>\n

After tumbling on Wednesday, raising the 3-day win streak for major averages, US<\/span> futures look flat to slightly mixed while bonds declining (and yields edge higher) ahead of key GDP data around 8:30 am, but gold surging to new all-time highs above $3,060 an ounce. Wall Street stocks ended sharply lower on Wednesday, dragged down by losses in Nvidia and Tesla as investors awaited information about long-promised U.S. tariffs on automotive imports. Those headlines came last night as President Donald Trump followed through on weeks of threats for new tariffs on imported cars, saying a 25% import tax on vehicles not built in the U.S. would begin on April 3. This is no surprise, as for weeks, Trump has promised to announce a swath of reciprocal tariffs on April 2.  Shares of global autos (GM<\/span>, F<\/span>, TM<\/span>, STLA<\/span>, etc.) are looking lower. Adding more fuel to fears, Trump said on Thursday that tariffs “far larger than currently planned” will be imposed on Canada and the EU if they work together to “do economic harm.” Tesla (TSLA<\/span>) shares fell over 5% on Wednesday after surging 28% in the 5-day win streak prior, while the AI\/data center industry tumbled ahead of the Coreweave (CRWV<\/span>) IPO<\/span> expected pricing on Friday, with CNBC<\/span> throwing some cold water on it (David Faber) which weighed on sentiment for the sector as NVDA<\/span>, VRT<\/span>, SMCI<\/span>, ARM<\/span> shares tumbled. In Asian markets, The Nikkei Index fell -227 points to 37,799, the Shanghai Index rose 5 points to 3,373, and the Hang Seng Index rose 95 points to 23,578. In Europe, the German DAX<\/span> is down -165 points to 22,673, while the FTSE 100 drops -46 points to 8,643. Markets also get a double dose of economic data with GDP today and then PCE inflation data Friday along with University of Michigan Confidence. <\/span><\/p>\n

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Market Closing Prices Yesterday<\/p>\n

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  • The S&P 500 Index<\/span><\/b> dropped -64.45 points<\/b>, or 1.12%, to 5,712.20<\/span><\/li>\n<\/ul>\n<\/div>\n
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    • The Dow Jones Industrial Average<\/span><\/b> <\/span>fell -132.71 points<\/span>, or 0.31%, to 42,454.79<\/span><\/li>\n
    • The Nasdaq Composite <\/span><\/b>tumbled -372.84 points<\/span>, or 2.04%, to 17,899.02<\/span><\/li>\n
    • The Russell 2000 Index<\/span><\/b> <\/span>declined -21.60 points<\/span>, or 1.03% to 2,073.77<\/span><\/li>\n<\/ul>\n
      \n

      Economic Calendar for Today<\/p>\n

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      • 8:30 AM<\/span> ET<\/span>                  Weekly Jobless Claims…est. 225K<\/li>\n<\/ul>\n<\/div>\n
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        • 8:30 AM<\/span> ET<\/span>                  Continuing Claims…est. 1.888M<\/li>\n
        • 8:30 AM<\/span> ET<\/span>                  Gross Domestic Product (GDP) Q4 final…est. +2.3%<\/li>\n
        • 8:30 AM<\/span> ET<\/span> GDP<\/span> Price Deflator for Q4, final…est. +3.2%<\/li>\n
        • 8:30 AM<\/span> ET<\/span> GDP<\/span> Consumer Spending, Q4-final…prior +4.2%<\/li>\n
        • 8:30 AM<\/span> ET<\/span> PCE<\/span> Prices final, Q4…est. +2.4%<\/li>\n
        • 8:30 AM<\/span> ET<\/span>                  Core PCE Prices final, Q4…est. +2.7%<\/li>\n
        • 8:30 AM<\/span> ET<\/span>                  Advance Goods Trade Balance for February…(prior (-$155.5B)<\/li>\n
        • 10:00 AM<\/span> ET<\/span>                Pending Home Sales M\/M for February…est. +1.0%<\/li>\n
        • 10:30 AM<\/span> ET<\/span>                Weekly EIA Natural Gas Inventory Data<\/li>\n
        • 11:00 AM<\/span> ET<\/span>                Kansas City Fed Manufacturing for March…prior (-13)<\/li>\n
        • 1:00 PM<\/span> ET<\/span> US<\/span> Treasury to sell $44B in 7-year notes<\/li>\n
        • 4:30 PM<\/span> ET<\/span>                   Fed’s Barkin Gives Speech, Q&A<\/li>\n<\/ul>\n
          \n

          Earnings Calendar: <\/p>\n

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          • Earnings Before the Open: BKTI<\/span> EDAP<\/span> PDSB<\/span> SACH<\/span> SNX<\/span> TLSI<\/span> UONEK<\/span> WGO<\/span><\/li>\n<\/ul>\n<\/div>\n
              \n
            • Earnings After the Close: AIR<\/span> AGX<\/span> BTTR<\/span> BRZE<\/span> BZAI<\/span> CODX<\/span> IRIX<\/span> KULR<\/span> LULU<\/span> LVLU<\/span> NUTX<\/span> OXM<\/span> PLSE<\/span> SPRO<\/span> <\/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

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

              		\n

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

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

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              -0.14<\/span><\/p>\n<\/td>\n

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

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

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              -0.09<\/span><\/p>\n<\/td>\n

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

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

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

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              3,062.90<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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              0.0023<\/span><\/p>\n<\/td>\n

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              1.0775<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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

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

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

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              +0.055<\/span><\/p>\n<\/td>\n

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              4.393%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

               <\/span><\/p>\n

              \n

              World News<\/p>\n

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              • The bull-bear spread in the American Association of Individual Investors (AAII) weekly survey was -24.8 vs -36.5 last week. Bulls rise to 27.4% from 21.6%, Neutrals rise to 20.4% from 20.3%, Bears fall to 52.2% from 58.1%.<\/li>\n<\/ul>\n<\/div>\n
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                • Germany’s economy minister Robert Habeck on Thursday said that U.S. tariffs on imported cars, unveiled by President Donald Trump on Wednesday, call for a firm response by the European Union.<\/li>\n
                • President Donald Trump said on Thursday that larger tariffs could be placed on the European Union and Canada if they both work together “to do economic harm to the USA.”<\/li>\n<\/ul>\n
                  \n

                  Sector News Breakdown<\/p>\n

                  Consumer<\/p>\n

                    \n
                  • General Motors (GM<\/span>)<\/b> and Ford Motor (F<\/span>)<\/b> shares are trading lower after President Trump followed through on weeks of threats for new tariffs on imported cars, saying a 25% import tax on vehicles not built in the U.S. would begin on April 3; shares of European (POAHY,<\/span> BMWYY,<\/span> MBGYY<\/span><\/b>) and Asian auto makers (TM,<\/span> NSANY<\/span><\/b>) were also weaker.<\/li>\n<\/ul>\n<\/div>\n
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                    • Cava Group Inc. (CAVA<\/span>)<\/b> will replace Altair Engineering Inc. (ALTR<\/span>)<\/b> in the S&P MidCap 400 effective prior to the opening of trading on Monday, March 31. Siemens AG (SIEGY<\/span>)<\/b> acquired Altair Engineering.<\/li>\n
                    • GameStop (GME<\/span>)<\/b> announces proposed private offering of $1.3b of convertible senior notes for purposes of acquiring bitcoin.<\/li>\n
                    • MillerKnoll (MLKN<\/span>)<\/b> Q3 adj EPS $0.44 vs est. $0.44, adj op mgn 6.6% on revs $876.2Mm vs est. $918.8Mm; guides Q4 sales $910-950Mm vs est. $958.78Mm, gr mgn 37.5-38.5% and adj EPS $0.46-0.52 vs est. $0.77.<\/li>\n
                    • Nio (NIO<\/span>)<\/b> will raise around HK$3.50 billion ($450.1 million) via a share placement to develop its smart EVs, according to a term sheet reviewed by Reuters on Thursday.<\/li>\n
                    • Petco Health (WOOF<\/span>)<\/b> Q4 adj EBITDA $96.1Mm vs est. $94.1Mm on revs $1.6B vs est. $1.561B, comps +0.5%; guides Q1 revs -low-single digit vs est. +1.9% and adj EBITDA $82-83Mm vs est. $79.33Mm; sees FY revs -low-single digit vs est. +2.1% and adj EBITDA $375-390Mm vs est. $372.59Mm.<\/li>\n
                    • Steelcase (SCS<\/span>)<\/b> Q4 adj EPS $0.26 vs est. $0.20 on revs $788Mm vs est. $781.6Mm, gr mgn 31.9%; guides Q1 revs $760-785Mm vs est. $739Mm, gr mgn approx 33% and adj EPS $0.13-0.17 vs est. $0.11.<\/li>\n<\/ul>\n
                      \n

                      Energy, Industrials and Materials<\/p>\n

                        \n
                      • Chemours (CC<\/span>)<\/b> upgraded to Outperform from Neutral at Mizuho.<\/li>\n<\/ul>\n<\/div>\n
                          \n
                        • HB Fuller (FUL<\/span>)<\/b> Q1 adj EPS $0.54 vs est. $0.50, adj EBITDA $114Mm vs est. $112.19Mm on revs $789Mm vs est. $769.19Mm; sees Q2 adj EBITDA $150-160Mm vs est. $156.66Mm; guides FY revs down 2-4% vs est. -3.29%, adj EBITDA $600-625Mm vs est. $602.35Mm and adj EPS $3.90-4.20 vs est. $3.97.<\/li>\n
                        • Liberty Energy (LBRT<\/span>)<\/b> upgraded to Overweight from Equal Weight at Morgan Stanley.<\/li>\n<\/ul>\n
                          \n

                          Financials<\/p>\n

                            \n
                          • Jefferies (JEF<\/span>)<\/b> Q4 EPS $0.57 vs est. $0.94 on revs $1.59B vs est. $1.86B; says capital markets have become increasingly more challenging due to uncertainties around US policy and geopolitical events.<\/li>\n<\/ul>\n<\/div>\n
                            \n

                            Healthcare<\/p>\n

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                            • In Managed care (CI,<\/span> HUM,<\/span> UNH,<\/span> ELV<\/span><\/b>), the WSJ reported Health insurers received duplicate payments from the Medicaid system for covering hundreds of thousands of patients nationwide, leading to billions of dollars in excess taxpayer spending<\/li>\n<\/ul>\n<\/div>\n
                                \n
                              • Nkarta Inc. (NKTX<\/span>)<\/b> Q4 EPS ($0.35) vs est. ($0.41); says cash balance expected to fund operations into 2029.<\/li>\n
                              • Soleno Therapeutics (SLNO<\/span>)<\/b> won FDA approval of its treatment for a genetic disorder that can lead to obesity, diabetes and cardiovascular disease; said the FDA approved its Vykat XR extended-release tablets for the treatment of hyperphagia, a chronic and life-threatening feeling of intense, persistent hunger.<\/li>\n
                              • Zentalis Pharmaceuticals Inc (ZNTL<\/span>)<\/b> files for a mixed shelf of up to $250M.<\/li>\n<\/ul>\n
                                \n

                                Technology, Media & Telecom<\/p>\n

                                  \n
                                • Advanced Micro Devices (AMD<\/span>)<\/b> was downgraded to Hold from Buy at Jefferies and cut tgt to $120 from $135 as believes AMD’s traction in AI is limited and sees increased competition from Intel (INTC).<\/li>\n<\/ul>\n<\/div>\n
                                    \n
                                  • Angi Inc. (ANGI<\/span>)<\/b> will replace The ODP Corp. (ODP<\/span>)<\/b> in the S&P SmallCap 600 effective prior to the opening of trading on Wednesday, April 2. S&P SmallCap 600 constituent IAC Inc. (IAC<\/span>)<\/b> is spinning off its ownership interest in ANGI in a transaction expected to be completed on Tuesday, April 1. <\/li>\n
                                  • 3D Systems (DDD<\/span>)<\/b> Q4 EPS ($0.25) vs est. ($0.11), adj EBITDA ($19.1Mm) vs est. ($8.91Mm) on revs $111Mm vs est. $115.2Mm, adj gr mgn 31.3%; guides FY revs $420-435Mm vs est. $462Mm, adj gr mgn 37-39% and adj EBITDA break-even or better in Q4 vs Q4 est. $0.266Mm.<\/li>\n
                                  • Concentric Corp. (CNXC<\/span>)<\/b> Q1 adj EPS $2.79 vs est. $2.58, adj EBITDA $374.2Mm vs est. $370Mm, adj op Inc $321.5Mm vs est. $308.5Mm on revs $2.372B vs est. $2.364B; reiterates FY guide.<\/li>\n
                                  • Microsoft (MSFT<\/span>)-<\/b>backed OpenAI is close to completing a $40B funding round that would value the company at $300B, Bloomberg reported overnight.<\/li>\n
                                  • Verint Systems (VRNT<\/span>)<\/b> Q4 adj EPS $0.45 vs est. $1.27, op Inc $46.324Mm vs est. $101.07Mm on revs $254Mm vs est. $276.99Mm; guides FY revs $960Mm +\/-3% vs est. $974.68Mm and adj EPS $2.93 at midpoint of revs guide vs est. $3.11.<\/li>\n<\/ul>\n<\/div>\n

                                    <\/p>\n