In This Article:
Stock futures (ES=F, NQ=F, YM=F) slip further in Wednesday's pre-market trading after equities (^DJI, ^IXIC, ^GSPC) snapped their recent win streak and US bonds (^TYX, ^TNX, ^FVX) surge around the Republican tax bill being negotiated amongst Washington lawmakers.
In its latest release, Target (TGT) missed first quarter earnings estimates amid worries for a consumer slowdown and tariff worries communicated by other retailers.
Nvidia (NVDA) CEO Jensen Huang urges US officials to ease curbs on AI chip exports to China.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
Let's get to the three things you need to know today.
First up, U.S. stock futures falling this morning, after snapping six days of gains. Investors keeping close tabs on tax bill negotiations in Washington, as lawmakers debate cuts at the center of the Trump administration's policy agenda. Rising bond yields also adding pressure to the stock market amid growing concerns about the fiscal deficit and mounting debt.
Plus, Target shares sinking this morning. The retailer cutting its outlook on the dual hit of a consumer slowdown and tariffs. The results calling into question whether CEO Brian Cornell can execute on plans to recapture growth after two years of choppy results. On a call with reporters this morning, Cornell expressed he is not satisfied with the latest earnings and says he has to drive traffic back into stores and the website.
And sticking with company news, Nvidia CEO Jensen Huang urging the U.S. to ease AI curbs on China after a, quote, failure of the restrictions to help contain China's growth in artificial intelligence. CEO calling for policymakers to propel U.S. AI technology by lowering export barriers aimed at curtailing the rise of a geopolitical rival. Huang telling reporters at the Computex conference that China alone will account for a $50 billion opportunity in 2026.
