Trex Company, Inc. manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps. The company also provides Trex Transcend Railing products that are used in Trex decking products and other decking materials; Trex Select Railing products for a simple clean finished look; Trex Enhance Railing system; and Trex Signature aluminum railing for a contemporary look. In addition, it offers Trex Seclusions, a fencing product that includes structural posts, bottom and top rails, pickets, and decorative post caps. In addition, it designs, engineers, and markets architectural and aluminum railing systems, and staging equipment and accessories for the commercial market, as well as sports stadiums and performing arts venues. Further, the company acts as a licensor in various licensing agreements with third parties to manufacture and sell products under the Trex name, including Trex Outdoor Furniture; Trex RainEscape, an above joist deck drainage system; Trex Pergola, a cellular PVC product; Trex Latticeworks outdoor lattice boards; Trex Cornhole boards; Diablo Trex Blade, a saw blade for wood-alternative composite decking; Trex SpiralStairs and structural steel posts; and Trex Outdoor Kitchens, Cabinetry, and Storage products. It sells its products through wholesale distributors, retail lumber dealers, and Home Depot and Lowe's stores, as well as through its direct sales staff, independent sales representatives, and bidding on projects. Trex Company, Inc. was founded in 1996 and is headquartered in Winchester, Virginia.

Trex Company, Inc.

In trading on Monday, shares of Trex Co Inc (Symbol: TREX) crossed above their 200 day moving average of $74.92, changing hands as high as $75.44 per share. Trex Co Inc shares are currently trading up about 1.9% on the day. The chart below shows the one year performance of TREX shares, versus its 200 day moving average:
Looking at the chart above, TREX's low point in its 52 week range is $58.68 per share, with $101.91 as the 52 week high point — that compares with a last trade of $75.00.
Click here to find out which 9 other stocks recently crossed above their 200 day moving average »
Also see:
ETFs Holding TFX
Gilead Sciences Average Annual Return
Funds Holding AERT
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

TREX Makes Bullish Cross Above Critical Moving Average

The Problem With Weight Loss Stocks

Walmart Shows Other Retailers How It's Done

David Gardner on "Rule Breaker Investing"

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the Vanguard Russell 1000 Value ETF (Symbol: VONV), we found that the implied analyst target price for the ETF based upon its underlying holdings is $96.37 per unit.
With VONV trading at a recent price near $87.17 per unit, that means that analysts see 10.55% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of VONV's underlying holdings with notable upside to their analyst target prices are PENN Entertainment Inc (Symbol: PENN), Willis Towers Watson Public Ltd Co (Symbol: WTW), and Trex Co Inc (Symbol: TREX). Although PENN has traded at a recent price of $17.98/share, the average analyst target is 23.05% higher at $22.12/share. Similarly, WTW has 10.93% upside from the recent share price of $330.00 if the average analyst target price of $366.06/share is reached, and analysts on average are expecting TREX to reach a target price of $72.00/share, which is 10.77% above the recent price of $65.00. Below is a twelve month price history chart comparing the stock performance of PENN, WTW, and TREX:
Below is a summary table of the current analyst target prices discussed above:
Name
Symbol
Recent Price
Avg. Analyst 12-Mo. Target
% Upside to Target
Vanguard Russell 1000 Value ETF
VONV
$87.17
$96.37
10.55%
PENN Entertainment Inc
PENN
$17.98
$22.12
23.05%
Willis Towers Watson Public Ltd Co
WTW
$330.00
$366.06
10.93%
Trex Co Inc
TREX
$65.00
$72.00
10.77%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The Math Shows VONV Can Go To $96

Key Points
Homeowners in the United States are sitting on $35 trillion in home equity, the highest level ever.
Banks and mortgage originators could be big winners, as they were during the last low-rate environment.
Home improvement retailers and building suppliers could see sales rise as people borrow for big projects.
Most of the trillion-dollar investment opportunity headlines have to do with artificial intelligence, autonomous vehicles, Internet of Things, or other tech trends. And there's certainly a good reason they're getting so much attention.
However, there could be an even larger market opportunity hiding in plain sight. Homeowners in the United States are sitting on an all-time high $35 trillion in home equity right now, and most aren't willing to tap into it while interest rates remain stubbornly high.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »
In recent quarters, Home Depot's (NYSE: HD) management has specifically cited homeowners holding off on big projects as a drag on sales, and these are often financed through home equity, just to name one example.
While there's no way to know for sure when the Federal Reserve might finally start lowering interest rates once again, most experts agree that the most likely direction for interest rates over the next few years will be lower. And this could lead to a multitrillion-dollar surge in homeowners' tapping into their home equity.
What stocks could be the biggest winners?
If Americans start borrowing against the value of their homes again, there are several types of stocks that could win. Here are two categories of home equity winners and some of the top players in each space.
Banks and loan originators
The most obvious beneficiary of a surge in homeowners' tapping into their equity is the financial services companies who originate home equity loans and home equity lines of credit, or HELOCs.
Bank of America (NYSE: BAC) is one of the largest HELOCs lenders and could be a particularly big winner as rates fall and this type of financing surges in popularity. Plus, residential mortgage loans make up $118 billion on Bank of America's loan book, and this could surge if we see a refinancing boom.
Rocket Companies (NYSE: RKT) is another one to watch, as it offers HELOCs but standard refinancing loans (which can also be used to pull cash out of your home equity) have historically been its bread-and-butter, especially when rates were low. It offers a seamless, online experience that resonates with today's borrowers and has made Rocket the leading mortgage originator.
Home improvement retailers
I already mentioned Home Depot, and just as the massive home improvement retailer is seeing customers delaying big projects right now. Of course, many people pay for home renovations and other major projects -- such as installing a swimming pool -- with cash, but HELOCs are a solid alternative for those who aren't cash-rich. So, as interest rates fall, we could see the pent-up demand for major projects coming back into the market. Home Depot and fellow home improvement retail giant Lowe's (NYSE: LOW) could both see sales, especially to contractors, spike higher during a refinancing boom.
It isn't just the retailers that can benefit. Companies like Trex (NYSE: TREX) that produce building materials could be big winners. Trex is the clear leader in composite decking materials and sells its products through third-party retailers. But there was a clear influx of demand during the low-interest era, and we could certainly see that once again.
The bottom line
A falling-rate environment could create a massive opportunity for companies that are involved with home equity loans and lines of credit, cash-out refinancing loans, and even the retailers who are most likely to benefit from a surge in home equity activity.
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Bank of America is an advertising partner of Motley Fool Money. Matt Frankel has positions in Bank of America and Rocket Companies. The Motley Fool has positions in and recommends Home Depot and Trex. The Motley Fool recommends Lowe's Companies. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

There's a Massive Stock Market Opportunity Right Now, and It Isn't AI: Here Are 3 Great Ways to Play It

The S&P 500 Index ($SPX) (SPY) Thursday closed up +0.27%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.43%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.16%. September E-mini S&P futures (ESU25) are up +0.26%, and September E-mini Nasdaq futures (NQU25) are down -0.17%.
Stock indexes on Thursday settled mixed, with the S&P 500 posting a new all-time high. Strength in airline stocks was positive for the broader market Thursday, with Delta Air Lines jumping more than +12% after restoring its full-year guidance. Stocks also found support after the weekly US initial unemployment report showed jobless claims unexpectedly fell to an 8-week low, a sign that the US labor market remains strong.
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Bond yields fell from early highs Thursday to give equities a lift after solid demand was seen for the Treasury's $22 billion auction of 30-year T-bonds. Dovish comments from San Francisco Fed President Mary Daly were also supportive for stocks when she said she "still expects two 25 bp interest rate cuts this year."
The price of Bitcoin (^BTSUSD) rose more than +2% Thursday and posted a new record high, which sparked a rally in cryptocurrency-exposed stocks. The US House Committee on Financial Services announced the week of July 14 as "Crypto Week," and the US House Committee on Ways and Means has planned an oversight subcommittee hearing on July 16, "Making America the Crypto Capital of the World," which may lead to more crypto-friendly regulations.
Stocks continue to see downward pressure due to uncertainty about President Trump's trade policies. On Wednesday, President Trump issued a new set of tariff demands on several countries, including a 50% tariff rate on Brazil. Mr. Trump also confirmed that the US will begin levying a 50% tariff on copper imports, effective August 1.
President Trump has vowed to push forward with his aggressive tariff regime, stressing he would not offer additional extensions on country-specific tariffs set to take effect on August 1. Mr. Trump also stated that drug companies could face tariffs as high as 200% on imports if they don't relocate production to the US within the next year. In addition, despite stating that the US was close to a trade deal with India, Mr. Trump said he would still impose a 10% tariff on India's goods for their participation in BRICS, a group of developing nations he claimed were "set up to hurt" the US.
US weekly initial unemployment claims unexpectedly fell -5,000 to an 8-week low of 227,000, showing a stronger labor market than expectations of an increase to 235,000. However, weekly continuing claims rose +10,000 to a 3.5-year high of 1.965 million, right on expectations and a sign that out-of-work Americans are finding it difficult to secure a new job.
Comments Thursday from St. Louis Fed President Alberto Musalem were slightly hawkish, as he noted that he sees upside risks to inflation, but it is too early to determine whether tariffs will have a persistent impact on prices. However, comments from San Francisco Fed President Mary Daly were dovish when she said she "still expects two 25 bp interest rate cuts this year," and sees a greater chance that the price effects from tariffs may be more muted than anticipated.
Another hurdle for stocks is the upcoming earnings season, which begins in earnest next week. Bloomberg Intelligence data show that the consensus for Q2 earnings of S&P 500 companies is for a rise of +2.8% year-over-year, the smallest increase in two years. Also, only six of the eleven S&P 500 sectors are projected to post an increase in earnings, the fewest since Q1 of 2023, according to Yardeni Research.
Federal funds futures prices are discounting the chances at 7% for a -25 bp rate cut at the July 29-30 FOMC meeting.
Overseas stock markets on Thursday settled mixed. The Euro Stoxx 50 fell from a 3.5-month high and closed down -0.14%. China's Shanghai Composite rallied to a 9-month high and closed up +0.48%. Japan's Nikkei Stock 225 closed down -0.44%.
Interest Rates
September 10-year T-notes (ZNU25) Thursday closed down -1.5 ticks. The 10-year T-note yield rose +1.8 bp to 4.350%. T-notes were under pressure Thursday after US weekly jobless claims unexpectedly fell to an 8-week low, a sign of labor market strength that was hawkish for Fed policy. T-notes were also weighed down by concern that US tariff increases could boost inflation and prevent the Fed from cutting interest rates. T-notes extended their losses today after St. Louis Fed President Alberto Musalem said he sees upside risks to inflation.
However, T-notes recouped most of their decline on solid demand for the Treasury's $22 billion auction of 30-year T-bonds, which saw the bonds awarded at a yield of 4.889%, slightly lower than the 4.890% pre-auction yield just before the bidding deadline, a sign of strong demand. Also, dovish comments from San Francisco Fed President Mary Daly gave T-notes a boost when she said she "still expects two 25 bp interest rate cuts this year,"
European government bond yields on Thursday were mixed. The 10-year German bund yield rose to a 3-month high of 2.710% and finished up +3.2 bp at 2.705%. The 10-year UK gilt yield fell -1.6 bp to 4.595%.
Italy May industrial production fell -0.7% m/m, weaker than expectations of -0.2% m/m.
Swaps are discounting the chances at 3% for a -25 bp rate cut by the ECB at the July 24 policy meeting.
US Stock Movers
Airline stocks rallied sharply Thursday, as Delta Air Lines (DAL) jumped more than +12% after it restored its full-year guidance and projected full-year adjusted EPS of $5.25-$6.25, the midpoint well above the consensus of $5.35. United Airlines Holdings (UAL) closed up more than +14% to lead gainers in the S&P 500, and American Airlines Group (AAL) closed up more than +12%. Also, Alaska Air Group (ALK) and Southwest Airlines (LUV) closed up more than +8%.
Cryptocurrency-exposed stocks moved higher Thursday as the price of Bitcoin (^BTCUSD) rose more than +2% to a new record high. As a result, Coinbase Global (COIN) closed up more than +3%. Also, MARA Holdings (MARA) and Riot Platforms (RIOT) closed up more than +2%, and MicroStrategy (MSTR) closed up more than +1%.
MP Materials (MP) closed up more than +50% after the company struck a multi-billion-dollar public-private deal with the US Department of Defense to build a new magnet plant and expand rare earth capabilities.
WK Kellogg (KLG) closed up more than +30% after Ferrero International SA acquired the company for about $3.1 billion or $23 per share.
Tesla (TSLA) closed up more than +4% to lead gainers in the Nasdaq 100 after CEO Musk said the company will launch deployment of its driverless taxis in the San Francisco Bay area "in a month or two," pending regulatory approvals.
Advance Micro Devices (AMD) closed up more than +4% after HSBC upgraded the stock to buy from hold with a price target of $200.
Trex Co (TREX) closed up more than +6% after Baird upgraded the stock to outperform from neutral with a price target of $75.
Huntington Ingalls Industries (HII) closed up more than +3% after TD Cowen upgraded the stock to buy from hold with a price target of $300.
McDonald's (MCD) closed up more than +1% after Goldman Sachs upgraded the stock to buy from neutral with a price target of $345.
Methode Electronics (MEI) closed down more than -25% after reporting a Q4 loss per share of -77 cents versus a loss of -23 cents y/y.
Helen of Troy (HELE) closed down more than -22% after reporting Q1 net sales of $371.7 million, weaker than the consensus of $396.5 million.
Autodesk (ADSK) closed down more than -6% on reports that the company is considering the acquisition of PTC Inc.
Crowdstrike Holdings (CRWD) closed down more than -5% after CFRA downgraded the stock to hold from buy.
Workday (WDAY) closed down more than -4% after Piper Sandler downgraded the stock to underweight from neutral with a price target of $235.
Conagra Brands (CAG) closed down more than -4% after reporting Q4 net sales of $2.78 billion, below the consensus of $2.84 billion.
Earnings Reports (7/11/2025)
Hingham Institution For Saving (HIFS), Lifezone Metals Ltd (LZM), PACS Group Inc (PACS), Smith-Midland Corp (SMID), Unity Bancorp Inc (UNTY).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

S&P 500 Climbs to a Record High Despite Tariff Uncertainty

The S&P 500 Index ($SPX) (SPY) today is up +0.10%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.41%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.34%. September E-mini S&P futures (ESU25) are up +0.13%, and September E-mini Nasdaq futures (NQU25) are down -0.33%.
Stocks today are mixed. Strength in airline stocks is positive for the broader market, with Delta Air Lines jumping more than +12% after restoring its full-year guidance. Stocks also found support after today’s US weekly initial unemployment report showed jobless claims unexpectedly fell to an 8-week low, a sign that the US labor market remains strong.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks continue to see downward pressure due to uncertainty about President Trump’s trade policies. On Wednesday, President Trump issued a new set of tariff demands on several countries, including a 50% tariff rate on Brazil. Mr. Trump also confirmed that the US will begin levying a 50% tariff on copper imports, effective August 1. Higher T-note yields are also weighing on stocks today, with the 10-year T-note yield up +3 bp to 4.36%.
President Trump has vowed to push forward with his aggressive tariff regime, stressing he would not offer additional extensions on country-specific tariffs set to take effect on August 1. Mr. Trump also stated that drug companies could face tariffs as high as 200% on imports if they don’t relocate production to the US within the next year. In addition, despite stating that the US was close to a trade deal with India, Mr. Trump said he would still impose a 10% tariff on India’s goods for their participation in BRICS, a group of developing nations he claimed were “set up to hurt” the US.
US weekly initial unemployment claims unexpectedly fell -5,000 to an 8-week low of 227,000, showing a stronger labor market than expectations of an increase to 235,000. However, weekly continuing claims rose +10,000 to a 3.5-year high of 1.965 million, right on expectations and a sign that out-of-work Americans are finding it difficult to secure a new job.
Comments today from St. Louis Fed President Musalem were slightly hawkish, as he noted that he sees upside risks to inflation, but it is too early to determine whether tariffs will have a persistent impact on prices.
Another hurdle for stocks is the upcoming earnings season, which begins this week. Bloomberg Intelligence data show that the consensus for Q2 earnings of S&P 500 companies is for a rise of +2.8% year-over-year, the smallest increase in two years. Also, only six of the eleven S&P 500 sectors are projected to post an increase in earnings, the fewest since Q1 of 2023, according to Yardeni Research.
Federal funds futures prices are discounting the chances at 7% for a -25 bp rate cut at the July 29-30 FOMC meeting.
Overseas stock markets today are mixed. The Euro Stoxx 50 fell from a 3.5-month high and is down -0.11%. China’s Shanghai Composite rallied to a 9-month high and closed up +0.48%. Japan’s Nikkei Stock 225 closed down -0.44%.
Interest Rates
September 10-year T-notes (ZNU25) today are down -7 ticks. The 10-year T-note yield is up +3.4 bp to 4.367%. T-notes are under pressure today after US weekly jobless claims unexpectedly fell to an 8-week low, a sign of labor market strength that is hawkish for Fed policy. T-notes are also weighed down by concern that US tariff increases could boost inflation and prevent the Fed from cutting interest rates. T-notes extended their losses today after St. Louis Fed President Musalem said he sees upside risks to inflation. In addition, supply pressures are negative for T-notes, as the Treasury will auction $22 billion of 30-year T-bonds later today to conclude this week’s auction slate of $119 billion of T-notes and T-bonds.
European government bond yields today are mixed. The 10-year German bund yield is up +2.6 bp at 2.698%. The 10-year UK gilt yield is down -1.0 bp to 4.602%.
Italy May industrial production fell -0.7% m/m, weaker than expectations of -0.2% m/m.
Swaps are discounting the chances at 3% for a -25 bp rate cut by the ECB at the July 24 policy meeting.
US Stock Movers
Airline stocks are climbing today, led by a +12% jump in Delta Air Lines (DAL) after the company restored its full-year guidance and projects full-year adjusted EPS of $5.25-$6.25, the midpoint well above the consensus of $5.35. American Airlines Group (AAL) and United Airlines Holdings (UAL) are up more than +11%, Alaska Air Group (ALK) is up more than +8%, and Southwest Airlines (LUV) is up more than +5%.
MP Materials (MP) is up more than +52% after the company struck a multi-billion-dollar public-private deal with the US Department of Defense to build a new magnet plant and expand rare earth capabilities.
WK Kellogg (KLG) is up more than +30% after Ferrero International SA acquired the company for about $3.1 billion or $23 per share.
Advance Micro Devices (AMD) is up more than +4% to lead gainers in the Nasdaq 100 after HSBC upgraded the stock to buy from hold with a price target of $200.
Tesla (TSLA) is up more than +3% after CEO Musk said the company will launch deployment of its driverless taxis in the San Francisco Bay area “in a month or two,” pending regulatory approvals.
Trex Co (TREX) is up more than +5% after Baird upgraded the stock to outperform from neutral with a price target of $75.
McDonald’s (MCD) is up more than +2% to lead gainers in the Dow Jones Industrials after Goldman Sachs upgraded the stock to buy from neutral with a price target of $345.
Huntington Ingalls Industries (HII) is up more than +1% after TD Cowen upgraded the stock to buy from hold with a price target of $300.
Helen of Troy (HELE) is down more than -24% after reporting Q1 net sales of $371.7 million, weaker than the consensus of $396.5 million.
Methode Electronics (MEI) is down more than -21% after reporting a Q4 loss per share of -77 cents versus a loss of -23 cents y/y.
Autodesk (ADSK) is down more than -7% to lead losers in the Nasdaq 100 on reports that the company is weighing the acquisition of PTC Inc.
Conagra Brands (CAG) is down more than -3% to lead packaged food makers lower after reporting Q4 net sales of $2.78 billion, below the consensus of $2.84 billion. Also, the Campbell’s Company (CPB) is down more than -1% and J M Smucker (SJM) is down -0.81%.
Workday (WDAY) is down more than -4% after Piper Sandler downgraded the stock to underweight from neutral with a price target of $235.
Crowdstrike Holdings (CRWD) is down more than -3% after CFRA downgraded the stock to hold from buy.
Earnings Reports (7/10/2025)
Byrna Technologies Inc (BYRN), Conagra Brands Inc (CAG), Delta Air Lines Inc (DAL), E2open Parent Holdings Inc (ETWO), Frequency Electronics Inc (FEIM), Helen of Troy Ltd (HELE), PriceSmart Inc (PSMT), Simply Good Foods Co/The (SMPL), WD-40 Co (WDFC).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks See Support from Airline Stocks but Trade Uncertainty Persists

The S&P 500 Index ($SPX) (SPY) today is up +0.18%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.58%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.20%.
Stocks today are mixed. On Wednesday, President Trump issued a new set of tariff demands on several countries, including a 50% tariff rate on Brazil. Mr. Trump also confirmed that the US will begin levying a 50% tariff on copper imports, effective August 1.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
President Trump has vowed to push forward with his aggressive tariff regime, stressing he would not offer additional extensions on country-specific tariffs set to take effect on August 1. Mr. Trump also stated that drug companies could face tariffs as high as 200% on imports if they don't relocate production to the US within the next year. In addition, despite stating that the US was close to a trade deal with India, Mr. Trump said he would still impose a 10% tariff on India's goods for their participation in BRICS, a group of developing nations he claimed were "set up to hurt" the US.
Strength in airline stocks is positive for the broader market, with Delta Air Lines jumping more than +9% after restoring its full-year guidance. Stocks also found support after today's US weekly initial unemployment report showed jobless claims unexpectedly fell to an 8-week low, a sign that the US labor market remains strong.
US weekly initial unemployment claims unexpectedly fell -5,000 to an 8-week low of 227,000, showing a stronger labor market than expectations of an increase to 235,000. However, weekly continuing claims rose +10,000 to a 3.5-year high of 1.965 million, right on expectations and a sign that out-of-work Americans are finding it difficult to secure a new job.
Another hurdle for stocks is the upcoming earnings season, which begins this week. Bloomberg Intelligence data show that the consensus for Q2 earnings of S&P 500 companies is for a rise of +2.8% year-over-year, the smallest increase in two years. Also, only six of the eleven S&P 500 sectors are projected to post an increase in earnings, the fewest since Q1 of 2023, according to Yardeni Research.
Federal funds futures prices are discounting the chances at 7% for a -25 bp rate cut at the July 29-30 FOMC meeting.
Overseas stock markets today are mixed. The Euro Stoxx 50 climbed to a 3.5-month high and is up +0.10%. China's Shanghai Composite rallied to a 9-month high and closed up +0.48%. Japan's Nikkei Stock 225 closed down -0.44%.
Interest Rates
September 10-year T-notes (ZNU25) today are down -3 ticks. The 10-year T-note yield is up +1.6 bp to 4.348%. T-notes are under pressure today after US weekly jobless claims unexpectedly fell to an 8-week low, a sign of labor market strength that is hawkish for Fed policy. T-notes are also weighed down by concern that US tariff increases could boost inflation and prevent the Fed from cutting interest rates. In addition, supply pressures are negative for T-notes, as the Treasury will auction $22 billion of 30-year T-bonds on Thursday to conclude this week's auction slate of $119 billion of T-notes and T-bonds.
European government bond yields today are mixed. The 10-year German bund yield is up +0.3 bp at 2.675%. The 10-year UK gilt yield is down -2.2 bp to 4.589%.
Italy May industrial production fell -0.7% m/m, weaker than expectations of -0.2% m/m.
Swaps are discounting the chances at 3% for a -25 bp rate cut by the ECB at the July 24 policy meeting.
US Stock Movers
Airline stocks are climbing today, led by a +9% jump in Delta Air Lines (DAL) after the company restored its full-year guidance and projects full-year adjusted EPS of $5.25-$6.25, the midpoint well above the consensus of $5.35. American Airlines Group (AAL) and United Airlines Holdings (UAL) are up more than +7%, Alaska Air Group (ALK) is up more than +3%, and Southwest Airlines (LUV) is up more than +2%.
MP Materials (MP) is up more than +47% after the company struck a multi-billion-dollar public-private deal with the US Department of Defense to build a new magnet plant and expand rare earth capabilities.
WK Kellogg (KLG) is up more than +30% after Ferrero International SA acquired the company for about $3.1 billion or $23 per share.
Advance Micro Devices (AMD) is up more than +3% to lead gainers in the Nasdaq 100 after HSBC upgraded the stock to buy from hold with a price target of $200.
Trex Co (TREX) is up more than +3% after Baird upgraded the stock to outperform from neutral with a price target of $75.
Circle Internet Group (CRCL) is up more than +3% after Ant Group said it is adding Circle's stablecoin to its blockchain platform.
Huntington Ingalls Industries (HII) is up more than +1% after TD Cowen upgraded the stock to buy from hold with a price target of $300.
Helen of Troy (HELE) is down more than -28% after reporting Q1 net sales of $371.7 million, weaker than the consensus of $396.5 million.
Methode Electronics (MEI) is down more than -19% after reporting a Q4 loss per share of -77 cents versus a loss of -23 cents y/y.
Autodesk (ADSK) is down more than -7% to lead losers in the Nasdaq 100 on reports that the company is weighing the acquisition of PTC Inc.
Conagra Brands (CAG) is down more than -6% to lead packaged food makers lower after reporting Q4 net sales of $2.78 billion, below the consensus of $2.84 billion. The Campbell's Company (CPB) is down more than-3%, J M Smucker (SJM) is down more than -2%, and General Mills (GIS) is down more than -1%.
Workday (WDAY) is down more than -3% after Piper Sandler downgraded the stock to underweight from neutral with a price target of $235.
Crowdstrike Holdings (CRWD) is down more than -1% after CFRA downgraded the stock to hold from buy.
Earnings Reports (7/10/2025)
Byrna Technologies Inc (BYRN), Conagra Brands Inc (CAG), Delta Air Lines Inc (DAL), E2open Parent Holdings Inc (ETWO), Frequency Electronics Inc (FEIM), Helen of Troy Ltd (HELE), PriceSmart Inc (PSMT), Simply Good Foods Co/The (SMPL), WD-40 Co (WDFC).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.