Pre-opening Comments for Thursday June 5^th

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:35 AM EDT.

European Central Bank lowered its overnight lending rate by 0.25% to 2.00%.

S&P 500 futures dropped 2 points following release of economic news at 8:30 AM EDT. Consensus for April Trade was a $66.3 billion deficit versus a $140.50 billion deficit in March. Actual was a $61.6 billion deficit. Consensus for revised first quarter Non-farm Productivity was a 0.8% drop versus a 1.5% gain in the fourth quarter. Actual was a 1.5% drop.

Verint Systems (VRNT) added $2.66 to $21.00 after offering positive guidance. Nice breakout after the close!

PVH Corp (PVH) dropped $5.01 to $75.80 after reducing its profit outlook.

Costco dropped $7.09 to $1,044.60 after monthly sales growth continued to slow.

EquityClock’s Market Outlook for June 5th

The period of seasonal weakness for the energy sector is here and, combined with the weak fundamental and technical backdrops, caution in the market segment is warranted. See:

https://equityclock.com/2025/06/04/stock-market-outlook-for-june-5-2025/

Technical Notes

Semiconductor ETFs led strength in U.S. equity prices yesterday. SMH moved above $249.44 and SOXX moved above $216.70 extending an intermediate uptrend.

Notable semiconductor stocks breaking resistance/extending intermediate uptrends included ON Semiconductor (ON) on a move above $46.59, Microchip Technology (MCHP) on a move above $64.36 and NetEase (NTES) on a move above $123.15 to an all-time high

DoorDash (DASH) a NASDAQ 100 stock moved above $215.24 extending an intermediate uptrend.

MongoDB (MDB) a NASDAQ 100 stock moved above $198.58 completing a reverse Head and Shoulders pattern.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for June 4^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 June 4^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for June 4^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Chart Check on Meme Stocks: $PLTR, $TSLA, $HIMS & $CRWV: Guy Adami and Dan Nathan

https://www.youtube.com/watch?v=7ZMUv2SGwIA

S&P 500 Bullish Patterns: Are Higher Highs Ahead? Frank Cappelleri

S&P 500 Bullish Patterns: Are Higher Highs Ahead? – YouTube

Bank of Canada says U.S. trade conflict is the ‘biggest headwind’ for the Canadian economy

Bank of Canada says U.S. trade conflict is the ‘biggest headwind’ for the Canadian economy – YouTube

Fed Beige Book Shows Economic Activity Has Declined Slightly

Fed Beige Book Shows Economic Activity Has Declined Slightly – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 1.20 to 71.00. It remains Overbought.

The long term Barometer slipped 0.80 to 51.00. It remains Neutral.

TSX Momentum Barometers

The intermediate term Barometer slipped 0.40 to 90.32. It remains Overbought. Daily trend remains up

The long term Barometer slipped 0.46 to 75.12. 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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