The EUR/USD pair edges lower to near 1.1415 during the early Asian session on Tuesday. The Euro (EUR) weakens against the US Dollar (USD) amid rising bets for further rate cuts from the European Central Bank (ECB) in June.
Luke’s bull case today … why he’s pounding the table on “physical AI” stocks … bond spreads are looking healthier … are profit margins looking to expand?
Manufacturing company Leggett & Platt (NYSE:LEG) met Wall Street’s revenue expectations in Q1 CY2025, but sales fell by 6.8% year on year to $1.02 billion. On the other hand, the company’s full-year revenue guidance of $4.15 billion at the midpoint came in 0.6% below analysts’ estimates. Its non-GAAP profit of $0.24 per share was 10.3% above analysts’ consensus estimates.
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According to a CNBC report citing CFRA Research data, the S&P 500 declined 7.9% from Trump's inauguration on Jan. 20 to the close of the session on April 25.
Shares of travel technology company Sabre (NASDAQ:SABR)
jumped 21.1% in the morning session after the company agreed to sell its hospitality solutions business to TPG for $1.1 billion. The proceeds from the sale were expected to significantly bolster SABR's cash reserves, giving it more flexibility to invest in growth areas such as its airline IT services and travel marketplace platforms. Additionally, the transaction supported the company's efforts to achieve its target leverage ratio of 2.5x to 3.5x, which could improve its appeal to investors.
Shares of fuel cell technology Plug Power (NASDAQ:PLUG) jumped 39.2% in the morning session after the company locked in a new loan of up to $525 million, boosting its cash pile and providing more headroom to support operations and future growth plans. It also shared strong early sales for the first quarter of 2025, beating Wall Street's estimates. Q1 2025 revenue guidance was estimated at around $130 million to $134 million.
SEO-Optimized Meta Description (Under 156 Characters): Texas manufacturing conditions worsened in April as business sentiment plunged, tariff fears grew, and price pressures surged, Dallas Fed survey shows.
Investors ditched worries, boosting ETFs like VanEck SMH (+13%) on chip stock rally, Virtus BBC (+7%) on biotech hope, Simplify TESL (+31%) on Musk's focus, Invesco SPHB (+11.5%) on risk appetite, iShares IBIT (+9.2%) on crypto optimism. Market sentiment received boost from easing US-China trade tensions and news of no Fed Chair firing. S&P 500 recovered 80% of its post-April 2 sell-off, but warning signs remain with slowing private sector growth, declining consumer sentiment, and rising inflation expectations. ServiceNow (+20%) and Northrop Grumman (-15%) had divergent earnings, while Tesla (+31%) surged on Musk's promise to focus on making EVs. This week's action will be crucial.
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The ECB official expects inflation to hover around the central bank’s target but cautioned that global trade disruptions are adding uncertainty to the outlook.
Bessent also pointed toward the strengthening of the Euro against the dollar since the tariff wars commenced and said that European countries are likely to be in panic given the strengthening of their currency.
