Closing Bell Movers: Futures sustaining gains after massive rebound

In the opening 60 minutes of the evening session, U.S. stock futures are sustaining the outsized gains recorded by the major average following President Trump’s about-face on global reciprocal tariffs, even as the administration’s focus on China imbalances was ratcheted higher.  S&P500 is up 0.4% at 5,514, Nasdaq 100 is up 0.2% above 19,300, and Dow Industrials is up 0.6% above 41,000.   In commodities, WTI crude oil prices have added nearly a dollar above $63 after gains of about 10%, while gold remains bid, rising another $15 above 3,090 per ounce.   Economists with sell-side firms are cautious in writing off continued volatility –  Goldman Sachs is merely reverting to its previous non-recession baseline forecast with GDP growth of 0.5% and a 45% probability of recession while Evercore still estimates recession odds at 35%-40%, warning that while the re-direction of purchases from China to countries like Vietnam might shave some of the core PCE inflation rate, imports that still come from China are products not easily sourced elsewhere.   Investors are now bracing for CPI data on tap for Thursday morning.

Check out this evening’s top movers from around Wall Street, compiled by The Fly.

HIGHER AFTER EARNINGS –

• PriceSmart (PSMT) up 6.1%
• Richardson Electronics (RELL) up 4.0%

ALSO HIGHER –

• Enact Holdings (ACT) up 5.3% after entering S&P SmallCap 600 index
• Aerovate Therapeutics (AVTE) up 3.6% after announcing special dividend

DOWN AFTER EARNINGS –

• Lakeland Industries (LAKE) down 18.1%
• Constellation Brands (STZ) down 2.9%

ALSO LOWER –

• Lucid Diagnostics (LUCD) down 22.4% after equity offering
• Amtech Systems (ASYS) down 4.0% after negative pre-announcement