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Morning Movers: Warner Bros. Discovery climbs after plans to separate

Stock futures are pointing slightly higher this morning as the rebound in job growth reported on Friday has given equities a boost and helped ease fears of an immediate economic slowdown, though it’s also kept investors cautious ahead of this week’s inflation data. The key event on the calendar is the May CPI report, which traders are watching closely to see if it supports the case for the Federal Reserve to hold rates steady despite political pressure for cuts. Former President Trump has openly called for a 1% rate cut, but Fed officials have shown no sign they’re prepared to shift course based on politics.

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Much of the early focus this week is on U.S.–China trade talks, which are taking place in London. Treasury Secretary Bessent, Commerce Secretary Lutnick, and U.S. Trade Representative Greer are meeting with Chinese Vice Premier He Lifeng, and markets are hoping the two sides can reduce tensions over tariffs and tech exports. 

Treasuries are also in focus, with long-bond yields rising ahead of a major auction. With earnings season largely behind, macro events are firmly in the driver’s seat this week.

In pre-market trading, S&P 500 futures rose 0.17%, Nasdaq futures rose 0.11% and Dow futures rose 0.12%. 

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

HIGHER –

  • Alarum (ALAR) up 22% after raising its Q2 revenue outlook 
  • Metsera (MTSR) up 17% after reporting topline data from the Phase 1 clinical trial of MET-233i, an ultra-long acting amylin analog
  • Warner Bros. Discovery (WBD) up 6% after announcing plans to separate the company, in a tax-free transaction, into two publicly traded companies
  • Hyperscale Data (GPUS) up 1% after entering into a comprehensive settlement agreement with Gresham Worldwide’s senior secured noteholders in its Chapter 11 bankruptcy proceedings

UP AFTER EARNINGS –

  • Graham (GHM) up 17%
  • 51Talk Online Education (COE) up 8%
  • Motorcar Parts (MPAA) up 1%


LOWER –

  • EchoStar (SATS) down 10% after The Wall Street Journal reported EchoStar is considering a Chapter 11 bankruptcy filing as the firm vies to shield its stockpile of wireless spectrum licenses from the threat of revocation by federal regulators
  • Opendoor Technologies (OPEN) down 10% after announcing it seeks a reverse stock split
  • Robinhood (HOOD) down 3% after being snubbed from the S&P 500 following several analysts projecting it could be included
  • Tesla (TSLA) down 2% after Baird and Argus downgraded the shares

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

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