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Tariff concerns and hotter-than-expected inflation data are weighing on futures (ES=F, NQ=F, YM=F) Friday morning. One company in focus is CoreWeave (CRWV), which will make its debut on the Nasdaq later today.
Morning Brief Anchors Brad Smith and Madison Mills break down the top stories of the day.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
Let's get to the three things that you need to know today.
First up, US stock futures falling this morning as investors de-risk ahead of President Trump's tariff deadline next week. Stocks halting their earlier gains this week following the announcements of auto tariffs and safe havens rallying ahead of the next set of tariffs due out on that so-called April Second Liberation Day. Gold, meantime, hitting another record high as investors seek safety amid volatility.
Plus the Fed's preferred inflation gauge core PCE out this morning showing prices rose at a stubborn pace in February, and household demand was weaker than expected, illustrating a more guarded consumer amid growing concerns about finances. Swaps traders, they continue to price in about two quarter-point reductions this year with the first scene coming in July. Consumer sentiment data out later this morning will offer more insight into the state of the consumer.
And core weave set to start trading today after the cloud computing company raised 1.5 billion dollars in a downsized IPO. The smaller debut coming amid stock market volatility which hurt demand and sets up today's trading as the next big test for initial public offerings. The company builds out data centers based on NVIDIA's chips to offer AI-related computing.