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Wednesday, March 26

Noteworthy US mega-cap moves today: Exxon Mobil Corp (XOM) +0.8%. 

Recent market movements are significantly influenced by the upcoming U.S. tariffs set to be announced on April 2, which have created a cautious atmosphere among investors. President Trump's mixed signals regarding these tariffs—indicating potential exemptions for some countries while also announcing new levies on pharmaceuticals and automobiles—have contributed to volatility in equity markets as traders await clarity.

In economic data releases, the UK reported an unexpected slowdown in inflation with annual CPI at 2.8% for February compared to expectations of 3%. This has led analysts to speculate about possible interest rate cuts from the Bank of England amid persistent services inflation remaining around 5%, raising concerns over future price pressures despite overall easing.

Additionally, durable goods orders data released today showed an increase contrary to forecasts; this could signal resilience within certain sectors of the U.S. economy amidst broader uncertainty driven by trade policies and declines in consumer sentiment reflected in recent confidence surveys hitting four-year lows at just above 92 points.

Invesco QQQ Trust Series I (QQQ) [-0.1%]
In premarket trading, the Invesco QQQ Trust ETF declined following three days of gains, now priced at 492.26. The previous close was 493.46, reflecting a modest increase on Tuesday. Economic indicators show a record high in U.S. home prices alongside a decline in consumer confidence, presenting potential challenges for market sentiment. The 10-year Treasury yield is at 4.33%, with the two-year yield at 4.02%. Social media discussions highlighted optimism for QQQ potentially closing above its 200-day moving average, although there are cautionary notes regarding a possible end to the recent relief rally due to tariff concerns. Notably, the top contributors to QQQ's performance include Amazon, Apple, Micron, Meta, and Costco. The Dow Jones Index has moved slightly up, suggesting broader market dynamics may be influencing QQQ's current price stability.

ProShares Ultra Semiconductors (USD) [-2.0%]
ProShares Ultra Semiconductors (USD) has seen a price decline in pre-market trading. Recent social media discussions highlighted Dell's announcement of a 10% workforce reduction, alongside its commitment to diversity amid an AI server initiative. Additionally, geopolitical tensions were emphasized by Russia's claim of full control over the Zaporizhzhia Nuclear Plant. The U.S. has added numerous Chinese and Iranian entities to its export restriction list, which may influence market dynamics. Notably, the Nasdaq 100 Index has also declined, reflecting broader market sentiment. Among the ETF's holdings, NVIDIA faced challenges in the AI chip market due to potential Chinese export controls and competition from Huawei, contributing to its negative performance. Other holdings like AMD are investing in future technologies to remain competitive.

DLTR | +5.1% | +793.6M
Dollar Tree Inc | Consumer Staples Merchandise Retail
Dollar Tree Inc has announced its decision to divest the Family Dollar business for $1.007 billion to Brigade Capital Management and Macellum Capital Management, with the transaction expected to close in the second quarter of 2025. In its fourth-quarter earnings report, Dollar Tree reported adjusted earnings per share of $2.29, exceeding the consensus estimate of $2.19, while revenue reached $5 billion, falling short of expectations of approximately $8.24 billion. For the first quarter, the company anticipates revenues from continuing operations between $4.5 billion and $4.6 billion, alongside projected same-store sales growth of 3% to 5% for both the fiscal first quarter and full year. Social media discussions have highlighted the upcoming earnings report, indicating a projected implied move in the stock price and confirming heightened interest in the lead-up to the announcement scheduled for 6:30 AM EST on October 25th.

CHWY | +5.4% | +836.5M
Chewy Inc | Other Specialty Retail
Chewy Inc. reported its fourth-quarter financial results, revealing an adjusted EPS of 0.28, surpassing the analyst consensus of 0.20, and a notable increase from 0.18 in the prior year. The company's revenue reached 3.25 billion, exceeding expectations of 3.2 billion, marking a year-over-year growth of approximately 15%. Chewy also forecasted first-quarter adjusted EPS between 0.30 and 0.35, with anticipated net sales of 3.06 billion to 3.09 billion, above the consensus estimate of 3.2 billion. The full-year 2025 net sales projection is set between 12.3 billion and 12.45 billion, with an adjusted EBITDA margin forecasted at 5.4% to 5.7%. Following the earnings announcement, Chewy's stock experienced a significant increase of around 10%.

GME | +12.4% | +1.1B
GameStop Corp | Computer & Electronics Retail
GameStop Corp's share price has increased significantly, reflecting broader movements in the Computer & Electronics Retail sector. The company reported its fourth-quarter results, revealing adjusted earnings per share of $0.30, surpassing analyst expectations of $0.08. However, revenue fell short at $1.283 billion, below the anticipated $1.477 billion, marking a notable year-over-year decline of 28%. In a strategic pivot, GameStop's board approved the addition of Bitcoin as a treasury reserve asset, which has garnered considerable attention on social media. The company currently holds approximately $4.75 billion in cash and equivalents, reinforcing its financial position amidst these developments. Following the earnings announcement, GameStop shares experienced a notable rise in after-hours trading, reflecting heightened market activity surrounding the stock.

TSLA | -1.2% | -11.0B
Tesla Inc | Automobile Manufacturers
Tesla Inc. is preparing to launch sales in Saudi Arabia next month, a significant development following past tensions regarding CEO Elon Musk's 2018 privatization attempt. Concurrently, Canada has excluded Tesla from all electric vehicle rebate programs due to U.S. tariffs, impacting approximately C$43 million in payments. This ban follows similar actions by various provinces and could adversely affect Tesla's market share in Canada. On social media, Tesla's stock experienced notable volatility, finishing the previous day up significantly and gaining substantially over the past week. There was considerable buying activity in options, particularly for April calls. Additionally, Tesla has invited lawmakers to a robotics symposium in Washington D.C., showcasing its Optimus humanoid robot. Meanwhile, the Nasdaq 100 Index has declined slightly, which may correlate with Tesla's recent stock movement.

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