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Today's Market
May 5, 2025 at 9:00 a.m. EST
Happy Cinco de Mayo. The S&P 500 came into today’s session on the longest winning streak since 2004, so it wasn’t surprising to see futures trading modestly lower overnight. It was a somewhat quiet start to the week with much of Asia closed for Golden Week. The main headlines coming out of the weekend were the OPEC+ production increase, Warren Buffet stepping back as the CEO of Berkshire at the end of the year and a surprise announcement by the President that he’d put a 100% tariff on foreign made films. Major indices opened modestly lower but have improved after this morning’s ISM services came in better than expected. The nine-day winning streak is at risk, but the S&P 500 is in striking distance with most of the weakness coming from a few mega-cap stocks.
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