Pre-opening Comments for Friday May 30^th

U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points at 8:35 AM EST. Index futures moved lower after President Trump said that China has violated its tariff agreement with the United States.

S&P 500 futures recovered 15 points following release of economic news at 8:30 AM EDT. Consensus for April Core PCE Price Index was a 0.1% increase versus no change in March. Actual was a 0.1% increase. Consensus for April U.S. Personal Income was a 0.3% increase versus a 0.5% increase in March. Actual was a 0.8% increase. Consensus for April U.S. Personal Spending was a 0.2% increase versus a 0.7% gain in March. Actual was a 0.2% increase.

The Canadian Dollar added US0.04 cents to 72.47 cents following release of Canada’s March GDP at 8:30 AM EDT. Consensus was a 0.1% increase versus a 0.2% gain in February. Actual was a 0.1% increase.

Dell Computer added $5.66 to $118.84 after reporting higher than consensus second quarter results. The company also raised guidance.

American Eagle Outfitters dropped $1.03 to $10.15 after lowering guidance.

Ulta Beauty advanced $30.61 to $452.40 after reporting higher than consensus first quarter revenues and earnings.

EquityClock’s Market Outlook for May 30^th

Investors not all that enthusiastic about stocks at present levels, although positioning is more balanced compared to the complacent levels that were recorded in January. See:

https://equityclock.com/2025/05/29/stock-market-outlook-for-may-30-2025/

Technical Notes

Copart $CPRT a NASDAQ 100 stock moved below $51.72 setting an intermediate downtrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for May 29^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for May 29^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 29^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Why Bonds Matter to Stock Investors: Keith Richards

https://www.youtube.com/watch?v=_0Vro1yjgqU

2 Must-Know Signals to Tune Out Bearish Noise: Tom Bowley

https://www.youtube.com/watch?v=H17Q7B3oyCw

Tariffs Blocked In Court… What’s Next? Guy Adami and Dan Nathan

https://www.youtube.com/watch?v=rvXSlUdEMS0

Tom Lee: Stock rally will be cyclical when markets believe tariff story is behind us

Tom Lee: Stock rally will be cyclical when markets believe tariff story is behind us – YouTube

RBC’s Helima Croft on oil: Here are the major negotiations to monitor

RBC’s Helima Croft on oil: Here are the major negotiations to monitor – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer added 2.80 to 69.00. It remains Overbought.

The long term Barometer added 0.60 to 50.00. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer slipped 0.92 to 86.64. It remains Overbought.

The long term Barometer added 0.46 to 73.27. It remains Overbought. Daily trend remains up.

Disclaimer: Seasonality ratings and technical ratings offered in this report and at

www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed.

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