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U.S. equity futures are up marginally – less than 0.1% – in the first hour of the evening session. Wednesday’s trading was once again dominated by the markets trying to parse through the bluster of tariff threats from the White House, with Trump’s 25% tariff on imports of steel and aluminum from all countries taking effect today, even though the cabinet reconsidered its threat to raise tariffs to 50% for Canadian imports of the metals after Canada suspended a new tax on U.S.-bound electricity. Traders were also far more keen on Growth over Value, with MAG7/AI-themed stocks outperforming the more defensive sectors. CPI data came in softer than expected, but Treasury yields notched higher as fixed income markets continued to bet on the Fed remaining on hold until the June meeting. 10-year yield was back above 4.30% after falling as low as 4.10% early last week. In metals, Copper futures reached 2025-highs at $4.90.
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Check out this evening’s top movers from around Wall Street, compiled by The Fly.
HIGHER AFTER EARNINGS –
ALSO HIGHER –
DOWN AFTER EARNINGS –
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UiPath (PATH) down 16.5%
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SentinelOne (S) down 13.0%
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NextNav (NN) down 7.5%
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American Eagle Outfitters (AEO) down 5.1%
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Adobe (ADBE) down 4.3%
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AudioEye (AEYE) down 3.2%
ALSO LOWER –
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A10 Networks (ATEN) down 10.5% after announcing $200M convertible senior note offering
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