📰 Market Snapshot – Monday, June 9, 2025

Pre-Market Snapshot (as of 9:00 AM ET):

• S&P 500 Futures: up 0.08%

• 10-Year Treasury Yield: 4.50%

• Gold Futures: down 0.22%

U.S. stock futures are modestly higher this morning, bond yields have ticked up to 4.50%, and gold is under pressure as investors await high-stakes U.S.–China trade talks.

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What’s Driving the Markets Today

1. U.S.–China Trade Talks
   Markets remain cautious ahead of the London round of negotiations. Optimism about a thaw in tensions is offset by concerns over enforcement and reciprocal measures .

2. Rate Path Uncertainty
   With the 10-year yield at 4.50%, bond markets are pricing in a slower path to any Fed rate cuts. Traders will parse every word from Fed speakers this week for clues on timing .

3. Safe-Haven Rotation
   Gold’s pre-market decline of 0.22% suggests some risk-on appetite returning, though haven flows could re-emerge if trade headlines sour .

4. Tech Performance
   Mega-cap tech names and AI-focused stocks continue to outperform broader peers, as investors shift into areas with clearer growth catalysts.

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What to Watch Today

• Trade Talks Updates: Any early leaks or statements from negotiators could spark a move in risk assets.

• Economic Releases: Tuesday brings ISM Services PMI; a strong print could reinforce “higher for longer” rate fears.

• Fed Speakers: Comments from Chair Powell mid-week will be scrutinized for any shift from the Fed’s “data-dependent” narrative.

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Bottom Line

With S&P 500 futures up 0.08%, the 10-year yield at 4.50%, and gold down 0.22%, markets open with a cautious tone. The outcome of this week’s U.S.–China trade discussions and Fed communications will likely dictate directional conviction. Stay nimble and monitor developments closely.