Good Morning, Traders!…👋

U.S. stock futures moved higher Friday morning, as markets reacted to signs of easing tensions between President Trump and Elon Musk, just ahead of the highly anticipated May jobs report.

A flurry of public barbs flew Thursday between the two powerhouses. President Trump, speaking from the Oval Office, expressed “disappointment” in Musk and questioned whether his opposition to the administration’s sweeping spending bill was driven by deficit concerns or political motives. Musk quickly hit back on X, claiming Trump owed his election win to his backing.

The high-profile feud injected fresh volatility into markets already grappling with trade tensions and slowing economic momentum. Until Thursday’s pullback, equities had posted modest gains for the week, buoyed by cautious optimism that Trump’s tariffs might be scaled back and the economy could remain resilient.

Now, all eyes are on Friday’s May employment report, due at 8:30 a.m. ET. Economists expect a slowdown in hiring while unemployment is projected to hold steady—adding another critical datapoint for traders assessing the health of the U.S. economy.

Earnings Watch

Earnings hit today from ABM Industries $ABM, FuelCell Energy $FCEL, and G-III Apparel $GIII before open, plus Broadcom $AVGO and Lululemon $LULU after close.

Analysts expect ABM to post $0.85 EPS with facility services strength, FCEL to hit -$0.07 EPS with clean energy buzz, G-III at $0.22 EPS, AVGO to deliver $1.58 EPS on AI chip demand, and LULU at $2.61 EPS.

Happening Today

✓ 08:30 AM ET – Average Hourly Earnings (MoM) (May)

✓ 08:30 AM ET – Nonfarm Payrolls (May)

✓ 08:30 AM ET – Unemployment Rate (May)

✓ 10:00 AM ET – FOMC Member Bowman Speaks

✓ 01:00 PM ET – U.S. Baker Hughes Oil Rig Count

✓ 03:00 PM ET – Consumer Credit (Apr)

✓ 03:30 PM ET – CFTC Nasdaq 100 and S&P 500 speculative net positions

PREMARKET SNAPSHOT 📈

U.S. equity futures are modestly higher this morning, with the S&P 500, Dow Jones, and Nasdaq futures all showing gains. Investor sentiment is buoyed by easing tensions between President Trump and Elon Musk, as well as anticipation of the May jobs report, which is expected to provide insights into the labor market and potential Federal Reserve policy adjustments.

SECTOR SNAPSHOT✨

All major sectors ended lower, led by sharp declines in consumer discretionary and staples. Energy, financials, and health care posted mild losses, while industrials, materials, and real estate also slipped slightly. Information technology edged down, continuing its pullback. Communication services was the only gainer, posting a modest uptick, while utilities dipped. Overall, it was a broadly negative session across the board.

PreMarket Unusual Volume Stocks

📈 Helius Medical Technologies, Inc. ($HSDT) surged 27.19% to $1.14 with 6.75M shares traded—volume soared 22,011% above average, signaling strong speculative interest.

📈 Bluejay Diagnostics, Inc. ($BJDX) exploded 92.11% to $1.52 on 9.29M shares, up 13,688.55% in volume, showing intense momentum buying.

📈 GlycoMimetics, Inc. ($GLYC) added 6.14% to $0.1986 with volume at 39.26M—an 8,833.28% jump—suggesting sharp attention from traders this morning.

📈 Eyenovia, Inc. ($EYEN) jumped 36.62% to $3.14 with 2.07M shares exchanging hands, a 1,025.67% volume surge amid growing bullish sentiment.

📈 Electra Battery Materials Corporation ($ELBM) rose 16.99% to $1.03 on 1.66M volume—up 84.04%—as interest grows in battery-related plays.

Premarket Picks

GlycoMimetics, Inc. (GLYC) saw a modest pre-market bump of 9.37%, trading at $0.22. The uptick follows shareholder approval of the company’s proposed merger with Crescent Biopharma, Inc., including all related merger proposals.

Helius Medical Technologies, Inc. (HSDT) jumped 30.70% in early trading to $1.49. The surge came after the company announced the pricing of a $9.1 million public offering.

Eyenovia, Inc. (EYEN) rose sharply by 35.03% to $4.24 in pre-market activity. The gain followed the company’s filing of an 8-K form with the SEC, typically signaling material developments.

The Generation Essentials Group (TGE) climbed 27.23% to $12.79 before the market opened. The move came as TGE and Black Spade Acquisition II Co. confirmed the completion of their previously announced business combination.

Below is a complete list of hot stocks in pre-market today:

Top Upgrades:

1. Invitation Homes Inc. (INVH)

Analyst Firm: Citi
Upgraded: Neutral to Buy
Price Target: $38.50
Yesterday's Close: $32.94

Citi analyst Eric Wolfe has raised his rating on Invitation Homes from Neutral to Buy, increasing the price target from $35 to $38.50. Invitation Homes, a member of the S&P 500, specializes in providing high-quality single-family rental homes located near employment hubs and reputable schools. Analysts have set a high price target of $43.00, with a median estimate of $38.00 and a low of $34.00. The average target stands at $37.52.

2. Ormat Technologies, Inc. (ORA)

Analyst Firm: Barclays
Upgraded: Equal Weight to Overweight
Price Target: $86
Yesterday's Close: $75.12

Barclays analyst J. David Anderson upgraded Ormat Technologies from Equal Weight to Overweight, boosting the price target from $80 to $86. Ormat Technologies focuses on the development of geothermal and recovered energy power projects across the globe. Analysts forecast a high price target of $100.00, with a median of $82.50 and a low of $75.00. The average price estimate comes in at $83.70.

3. Sarepta Therapeutics, Inc. (SRPT)

Analyst Firm: Scotiabank
Upgraded: Sector Perform to Outperform
Price Target: $80
Yesterday's Close: $39.21

Scotiabank's Louise Chen upgraded Sarepta's stock from Sector Perform to Outperform, setting a new price target of $80. Sarepta Therapeutics is a biotechnology company working on genetic medicines for rare diseases. Analyst expectations show a wide range, with a high target of $185.00, a median of $89.00, and a low of $40.00. The average price target is $96.88.

Happy investing,

Maeve Grace
Editor In Chief
Premium Stock Alerts

Important: This newsletter does not provide investment advice. The stocks mentioned should not be taken as recommendations. Your investments are solely your decisions.

Disclosure: I hold no positions in any companies mentioned, either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.