Morning Movers: New York Times slips following $15B lawsuit from President Trump

S&P futures are showing modest gains as investors zero in on the Federal Reserve’s two-day policy meeting, expected to yield a 25-basis-point rate cut. Confidence in easing is high, and fresh developments have bolstered that view. The U.S. dollar has dropped to multi-month lows against the euro and sterling, pressured by softening labor market data and speculation that the Fed will lean dovish in both action and communication.

Precious metals are benefiting strongly as gold hit record highs again amid dollar weakness and rate-cut expectations. Silver is also attracting attention, riding the wave of safe-haven demand.

In energy markets, oil is holding steady. Underlying supply risks, especially from recent Ukrainian drone strikes on Russian refineries, are supporting prices, but demand concerns and macro uncertainty are tempering further gains.

In pre-market trading, S&P 500 futures rose 0.12%, Nasdaq futures rose 0.21% and Dow futures fell 0.06%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly, and subscribe to the FlyBy on YouTube.

HIGHER –

• Oracle (ORCL) up 4% after CBS News reported the company is among a consortium of firms that would enable TikTok to continue operations in the U.S. if a framework deal is finalized,
• Novo Nordisk (NVO) up 3% after reporting cagrilintide provided clinically meaningful weight loss, with an average body weight reduction of 11.8% compared to 2.3% with placebo after 68 weeks
• Webtoon (WBTN) up 29% after Disney (DIS) and the company entered into a non-binding term sheet for Disney to acquire a 2% equity interest as part of an expanded partnership
• Chipotle (CMG) up 1% after authorizing an additional $500M for share repurchases

DOWN AFTER EARNINGS –

• Dave & Buster’s (PLAY) down 17%

LOWER –

• New York Times (NYT) down 2% after President Trump said he is bringing a $15B defamation and libel lawsuit against the company
• Warner Bros. Discovery (WBD) down 2% after TD Cowen downgraded the stock to Hold with an unchanged price target of $14
• Adtran (ADTN) down 8% after announcing an offering of $150M of convertible senior notes due 2030