US Open: US100 gains 0.5%📈General Mills shares near lowest level since March 2020

Wall Street sentiment is optimistic today, with gains led by technology stocks. Despite a brief upward reaction in oil prices, equity markets barely responded to a New York Times report suggesting that Iran may be relocating its enriched uranium reserves. These claims were previously denied by U.S. Defense Secretary Pete Hegseth, who stated that Iran’s messaging lacks credibility and that there are significant reasons to doubt its validity.

• The US2000 is up over 1.1%, while the US100 gains 0.5%; the dollar continues to weaken, with the USD Index losing over 0.35%.
• Durable goods orders rose sharply (16.4% vs. 8% expected), and jobless claims came in below forecasts (236,000 vs. 244,000 expected).
• Macro data from the U.S. economy remains strong: while final Q1 GDP disappointed, the drop was driven by a spike in imports due to fears of impending tariffs.

US100 chart (H1)

Source: xStation5

The final U.S. Q1 GDP reading indicates the first quarter-on-quarter GDP contraction since the COVID-19 pandemic.
However, it's important to note that the decline was driven by a surge in imports, stemming from concerns over sharply rising tariffs in the U.S., which negatively impacted the GDP calculation. Other GDP components—such as consumption, investment, and federal spending—increased. Source: XTB Research

Company News

• Apple Inc. (AAPL.US) shares fall 0.2% after JPMorgan cut its price target from $240 to $230, citing the incremental rollout of the iPhone 17 lineup.

• Edgewise Therapeutics (EWTX.US) shares decline 5.4% after the biotech firm announced that the FDA deemed the data for its experimental Becker muscular dystrophy drug insufficient to support accelerated approval.

• General Mills (GIS.US) rebounds slightly—up 0.4%—after RBC upgraded the stock to "outperform" from "sector perform," noting that the company's full-year EPS guidance suggests resilience in a sluggish economic environment.

• Hive Digital Technologies (HIVE.US) falls 4.5% after the Bitcoin mining company posted an unexpected adjusted EBITDA loss in Q4, driven by declining Bitcoin prices.

• Jefferies (JEF.US) slips 2.5% after reporting earnings that missed expectations, largely due to a drop in deal-making activity between March and May amid market volatility.

• McCormick (MKC.US) gains 5.1% after the spice and flavoring company beat second-quarter EPS estimates and reaffirmed its full-year earnings and sales outlook.

• MillerKnoll (MLKN.US) rises 8.6% after the office furniture maker reported stronger-than-expected adjusted EPS for the fourth quarter.

• Trade Desk (TTD.US) falls 2.5% after Wells Fargo downgraded the stock to "equal weight" from "overweight," forecasting increased competitive pressure from Amazon in 2026.

General Mills (GIS.US) Chart

General Mills shares are currently trading at levels not seen since the COVID panic of March 2020. The company produces popular U.S. snack and cereal brands. Yesterday, the company reported Q1 results showing EPS of $0.74 versus Wall Street expectations of $0.71. Quarterly revenue came in at $4.6 billion, in line with forecasts. The stock is down nearly 10% over the past 3 months and more than 16% over the last 12 months.

Source: xStation5