The Number Nobody Mentioned
Where Futures Sit
Dow futures up 315 points, or 0.61%, near 51,562. S&P 500 futures ahead 38.25, about 0.52%. Nasdaq futures up 162.75, roughly 0.55%. A quiet extension of yesterday's powerful move.
Macro Pulse
Thursday was a barn-burner. The Dow tore higher by more than 920 points... nearly 1.9%... with the Nasdaq up 2.5%, after the President pulled back planned strikes on Iran and floated a peace deal that could be signed as soon as this weekend.
Relief washed over the tape and oil retreated. But notice what the party skated past: yesterday's producer price report ran hot, the fastest wholesale inflation in nearly four years, as the Iran oil shock pushed business costs higher.
This morning brings the University of Michigan consumer sentiment read. And the Fed sits down next week.
Tickers To Watch
SpaceX makes its market debut today... priced at 135 dollars, raising roughly 75 billion at a valuation near 1.78 trillion, on track to be the largest IPO in history.
Watch whether the frenzy pulls money out of megacap tech or lifts the whole complex. The chip names ran hard yesterday, with Micron up around 11% and AMD up 8%, so watch for follow-through or profit-taking.
Bottom Line
A peace headline and the largest IPO in history!
Enjoy the rally with your eyes open.
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