In This Article:
US stock futures (ES=F, NQ=F, YM=F) slip into the red Tuesday morning as Wall Street wonders if the latest market rally has already stalled out. JPMorgan Chase & Co. (JPM) CEO Jamie Dimon warned of an "extraordinary amount of complacency" in markets the bank's annual investor day on Monday.
Home Depot (HD) saw slightly mixed first quarter earnings results — just barely missing estimates on adjusted earnings per share — while same-store sales declined more than expected.
The GENIUS Act — a bill outlining the regulation of stablecoins — has passed a major hurdle in the Senate as it moves to be debated by lawmakers on the floor of the US Senate.
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Welcome to Yahoo! Finance's flagship show, the Morning Brief. I'm Alison Mills. Let's get you the three things you need to know today.
First up, US stock futures falling this morning after stocks closed out six consecutive days of gains on the brink of a bull market. For investors wondering if the rally's run its course, JP Morgan's CEO has a warning. Jamie Diamond telling shareholders at the firm's Investor Day that he thinks markets are too complacent amid a slew of mounting risks, citing tariffs, credit spreads, and geopolitics.
Plus, Home Depot out with results posting worse than expected same store sales for the quarter, down about 3/10 of a percent from a year ago. The company did, however, keep its guidance for the fiscal year. Management signaling they will maintain prices. Shares reflecting a better than feared reception on Wall Street.
And a big win in Washington for the crypto industry. Stablecoin legislation overcoming a procedural blockade in the US Senate, marking a major victory for the crypto industry after a group of Democrats had opposed, had dropped their opposition. The industry backed regulatory bill is now set for debate on the Senate floor with a bipartisan group hoping to pass it as soon as this week. Democrats had initially opposed the bill due to concerns over President Trump's crypto dealings.
