Stocktwits data showed retail sentiment around SPY was ‘bearish’, while QQQ sentiment remained ‘bullish.’
- Wall Street held steady as easing geopolitical tensions gave way to concerns over the labor market and the Federal Reserve’s next move.
- A tentative truce between the U.S. and Iran has stabilized global markets ahead of expected diplomatic talks in Doha, Qatar, today.
- RBC Capital Markets has reportedly raised its year-end S&P 500 target to 8,150 on stronger earnings expectations but cautioned investors to expect bouts of volatility rather than a smooth rally.
U.S. stock futures were in the green early Tuesday after a rebound in technology shares in the previous session and easing geopolitical jitters in the Middle East pushed the Dow Jones Industrial Average to clear the historic 52,000 milestone for the first time. Alphabet's 5% surge during its debut trading session as a Dow constituent provided support.
As of 4:00 a.m. ET, Nasdaq futures rose 0.1%, S&P 500, Dow and Russell 2000 futures were flat with a positive bias.
On Stocktwits, retail sentiment for the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, has remained ‘bearish’, while the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq-100 Index, has stayed ‘bullish’.
A tentative truce between the U.S. and Iran has stabilized global markets ahead of expected diplomatic talks in Doha, Qatar, later on Tuesday. While optimism has returned following easing geopolitical tensions, Wall Street analysts are becoming increasingly cautious.
Bank of America recently advised investors to hedge further gains, warning that the recent rally could give way to a “three-wave correction” through September. And RBC Capital Markets has reportedly raised its year-end S&P 500 target to 8,150 on stronger earnings expectations but cautioned investors to expect bouts of volatility rather than a smooth rally.
Meanwhile, President Donald Trump issued a public demand for immediate cuts in retail gasoline prices and greenlit a temporary halt to tariffs on Moroccan phosphate fertilizers.
Trending Stocks To Watch
Tesla (TSLA): The EV giant is on retail radar as it begins engineering tests in Austin for its autonomous Cybercab, which features no steering wheel or pedals. Meanwhile, Cantor Fitzgerald has warned that Q2 deliveries might miss consensus estimates, but believes that Tesla’s AI, robotics, and autonomous driving initiatives could become its biggest long-term value drivers.
SpaceX (SPCX): Shares slipped marginally in early premarket trade following a Semafor report that U.S. government officials have discussed a potential SpaceX stock donation to Trump-affiliated accounts, reviving interest in CEO Elon Musk’s evolving relationship with the White House.
Rocket Lab (RKLB): Roth Capital raised its price target from $100 to $130, citing its formidable competitive position relative to SpaceX following SpaceX's acquisition of Iridium's global network.
Sellas Life Sciences (SLS): Stock rose 6% in early premarket as retail traders await the upcoming Phase 3 REGAL trial readout for its acute myeloid leukemia treatment, eyeing a breakout past $25.
SanDisk (SNDK): Stock rose 3% in early premarket trading after Bernstein raised its price target from $1,700 to $3,000, highlighting highly lucrative, long-term customer agreements with strong downside protection.
Micron Technology (MU): Capped its best first half ever with a 400% surge in 2026; the memory chip maker has officially cracked the S&P 500's top 10 constituents.
Nike (NKE): Held steady ahead of its Q4 earnings report today after JPMorgan cut its price target to $47, citing slow turnaround potential and intense retail competition.
AeroVironment (AVAV): Stock surged 19% in early premarket trade, eyeing weekly gains on a strong earnings report. The CEO highlighted ‘unprecedented’ defense demand over the next two years, but the company also added that free cash flow may not turn positive until after fiscal 2027.
Jack In The Box (JACK): Rallied 12% in early premarket trade following its official inclusion into several FTSE Russell benchmarks during the June index reconstitution.
Other tickers trending on Stocktwits at the time of writing included Nokia Corp (NOK), USA Rare Earth Inc (USAR), Abivax (ABVX), and Serve Robotics (SERV).
Other Catalysts To Watch
On the economic front, investors will be tracking the release of the Case-Shiller and FHFA House Price Index (HPI), the Chicago PMI, and the Consumer Confidence index, as well as the high-stakes JOLTS job openings report later today. The JOLTS report is expected to offer fresh clues on labor demand ahead of Thursday’s June nonfarm payrolls report, one of the Federal Reserve’s most closely watched inflation and employment indicators.
On earnings radar, watch out for quarterly reports from Nike (NKE), Progress Software (PRGS), and Constellation Brands (STZ).
U.S. stock and bond markets will be closed on Friday, July 3, in observance of Independence Day.
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