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Tuesday, March 25

Noteworthy macro moves today: Copper +1.6%. US Dollar Index -0.3%. 

The German Ifo Business Climate indicator rose to 86.7 in March, its highest level since July, reflecting improved business sentiment following government plans for increased defense spending and infrastructure investment. This positive data aligns with market expectations and has contributed to a bullish outlook on the Eurozone's largest economy.

In the U.S., President Trump indicated that not all proposed tariffs set for April 2 will be implemented as initially planned; some countries may receive exemptions. His comments have alleviated concerns about broader trade disruptions, leading to gains across major equity indices such as the S&P 500 and Nasdaq Composite amid optimism regarding economic resilience despite ongoing tariff discussions.

Additionally, recent economic data from the U.S., including an increase in services sector activity reflected by a rise in PMI figures, is helping boost investor confidence while overshadowing weaker manufacturing signals. The upcoming release of consumer confidence metrics today could further influence market dynamics amidst these developments surrounding monetary policy adjustments anticipated from central banks globally.

iShares China Large-Cap ETF (FXI) [-0.6%]
iShares China Large-Cap ETF (FXI) has seen a price decline of 0.6% since Monday. Alibaba Group Chairman Joe Tsai announced a resumption of hiring, driven by increased optimism following a meeting with President Xi Jinping. This aligns with a broader economic strategy to enhance domestic consumption. The tech sector is experiencing growth, with Alibaba committing substantial resources to cloud computing and AI infrastructure over the next three years. Year-to-date, FXI has increased significantly, although Alibaba's ADR closed down slightly. Social media discussions highlight China's release of Mintz staff, which may positively influence foreign sentiment towards investments. Additionally, advancements in AI technology and Xiaomi's planned $5.48 billion share placement underscore ongoing corporate activities that could affect market perceptions of FXI. Notably, the top contributors to FXI's performance include JD, YUMC, TCOM, and LI, all of which experienced declines.

United States Oil Fund LP (USO) [+0.6%]
The United States Oil Fund LP (USO) has seen its price increase by 0.6% since Monday. This uptick coincides with broader market trends, as U.S. markets closed higher on March 24th, with notable gains in technology stocks amid tariff optimism. Crude oil prices also rose, with WTI trading higher due to fears of tighter global supply following U.S. tariffs on Venezuelan crude buyers and sanctions on Venezuela and Iran. This marked the fifth consecutive day of rising oil prices, contributing to a favorable environment for USO. Social media discussions have highlighted the significant increase in crude oil prices, particularly in relation to USO and other related tickers, underscoring the fund's relevance in the current market context.

NET | +5.5% | +2.5B
Cloudflare Inc | Internet Services & Infrastructure
Cloudflare Inc. received a significant double upgrade to "Buy" from "Underperform" by Bank of America Merrill Lynch, with the price target raised from 60 to 160. This upgrade was announced approximately 23 minutes ago and has resulted in a stock price increase of around 5% in premarket trading. The upgrade is supported by the identification of two key catalysts expected to accelerate growth for the company. Social media discussions reflect a positive sentiment surrounding this news, emphasizing the implications of the upgrade and its connection to the rising interest in artificial intelligence, which may enhance Cloudflare's market position. Following the announcement, Cloudflare's stock is trading at approximately 123.93.

DJT | +11.3% | +468.2M
Digital World Acquisition Corp
Digital World Acquisition Corp (DJT) has experienced a notable price increase of over 11% in pre-market trading. This movement follows the announcement from Trump Media and Technology Group (TMTG) regarding a non-binding agreement with Crypto.com to launch a series of exchange-traded funds (ETFs) under the Truth.Fi brand. The planned ETFs will focus on digital assets and securities, emphasizing a "Made in America" initiative, and are set for launch later this year, pending regulatory approval. TMTG intends to invest up to $250 million in these funds. Despite the excitement surrounding this partnership, analysts have raised concerns about TMTG's financial health, noting significant stock value declines and increasing net losses. Conversations on social media reflect both enthusiasm for the new venture and skepticism regarding the long-term viability of TMTG's financial outlook.

MKC | -2.9% | -602.2M
McCormick & Company Inc | Packaged Foods & Meats
McCormick & Company Inc reported first-quarter results that fell short of analyst expectations, resulting in a decline in share price. Adjusted earnings per share were $0.60, missing the consensus estimate of $0.64. Revenue matched expectations at $1.61 billion, while year-over-year net sales increased slightly. Operating income decreased compared to the prior year. The company reaffirmed its fiscal 2025 adjusted EPS outlook of $3.03 to $3.08, slightly below the consensus of $3.07. McCormick anticipates organic sales growth of 1-3% for the fiscal year, despite challenges from foreign currency rates and higher operational expenses. Social media discussions have focused on these financial results, highlighting the earnings report and the company's outlook for the year ahead.

TSLA | +1.6% | +14.6B
Tesla Inc | Automobile Manufacturers
Tesla's market share in Europe has declined for the second consecutive month, with sales dropping significantly year-to-date. As of February, Tesla held only a small portion of the total automotive market and a reduced share of the battery-electric vehicle market compared to the previous year. The company sold fewer than 17,000 vehicles across the European Union, Britain, and European Free Trade Association countries in February, a sharp decrease from over 28,000 during the same month in 2024. This decline is attributed to increased competition and an aging product lineup, despite an overall rise in electric vehicle sales in the region. In contrast, Tesla's weekly insured registrations in China reached their highest level for 2025, including a notable number for the refreshed Model Y. Meanwhile, Piper Sandler has reiterated an overweight rating on Tesla with a price target of 450.

CVNA | +5.6% | +2.5B
Carvana Co | Automotive Retail
Carvana Co experienced a notable increase in pre-market trading. This movement follows an upgrade from Market Securities & Co, which raised its price target to 280 from 260. The upgrade was echoed by Morgan Stanley, which also upgraded Carvana to Overweight, citing the recent pull-back in share price as an opportunity for investors. Adam Jonas was identified as the analyst responsible for this assessment. Social media discussions highlighted the potential for the stock to reach 400, further reflecting positive sentiment. Additionally, the AUD/USD currency pair rose by 0.52%, suggesting a correlation with broader market trends that may influence investor behavior in the automotive retail sector.

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