Buffett's Berkshire departure, Fed decision, and another rush of earnings

🧨Fed and Powell face 'tug-of-war' with Trump and his tariffs looming. Trump has made it clear what he wants. Now will Powell show his hand? The biggest question facing the Federal Reserve as it gathers again this week is how to grapple with a tariff-related "tug-of-war" between sticky inflation and a slowing economy — as well as a president who wants looser monetary policy. How that dilemma gets resolved could mean two very different courses for interest rates in the coming months. Yahoo Finance reports.

🏦 U.S. Treasuries hold steady as investor attention turns to Fed meeting. U.S. Treasury yields were little changed on Monday as investor attention turned to the Federal Reserve meeting and interest rate decision slated for later in the week.At 4:45 a.m. ET, the yield on the 10-year Treasury was down by less than one basis point to 4.312%. The 2-year Treasury yield was last more than one basis point lower at 3.824%. CNBC reports.

🏆 Gold Prices Climb as US Dollar Weakens Ahead of Fed Meeting and PMI Report. Gold Awaits US Rate Decision this Week. The market is closely watching the upcoming US central bank policy decision and scheduled speeches from several Fed officials this week, seeking clues about the direction of future monetary policy. Following Friday’s US Labor Department report, which revealed stronger-than-expected job growth in April, traders are now pricing in 80 basis points of interest rate cuts beginning in July. Investing.com reports.

🛢️ Oil prices fall and world share prices are mixed in thin holiday trading. During the weekend, the OPEC+ group of eight nations announced it will raise its output by 411,000 barrels per day as of June 1, stepping up production increases.
The group said strong fundamentals were behind the decision, though analysts also speculated that it might reflect a desire to curry favor with U.S. President Donald Trump before he makes a visit to the Middle East later this month. AP News reports.

🎬 Trump says non-US movies to be hit with 100% tariffs. US President Donald Trump says he will hit movies made in foreign countries with 100% tariffs, as he ramps up trade disputes with nations around the world.
Trump said he was authorising the US Department of Commerce and Trade Representative to start the process to impose the levy because America's movie industry was dying "a very fast death". BBC reports.

💰 Pre-Market Earnings Report for May 5, 2025 : CMI, ARES, BNTX, ZBH, TSN, ON, CNA, HSIC, TGTX, JBTM, AXSM, FRPT

A host of companies are due to report earnings prior to markets opening today, including

• Palantir Technologies: Investors are closely watching for insights into AI and government contracts.
• ON Semiconductor: Expected to report a 52.78% decrease in earnings per share compared to the same quarter last year.
• Tyson Foods: Projected to report a 37.10% increase in earnings per share year-over-year.

Click through to see the full list on Nasdaq.com

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1) $NCNA: NuCana

Total gain: +152.06%

2) $AGMH: AGM Group Holdings

Total gain: +64.06%

3) $NITO: N2OFF

Total gain: +38.69%

4) $HNVR: Hanover Bancorp

Total gain: +28.31%

5) $ASPS: Altisource Portfolio Solutions

Total gain: +25.26%

The closing price of the top three market percent gainers trading near or above $3 on May 2.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1) $CPS: Cooper-Standard Holdings

Total gain: +43.52%

The company reported its results for the first quarter 2025.

• Gross profit of $77.2 million, an increase of 25.2% vs. the first quarter of 2024.
• Operating income of $22.3 million, an increase of 539.2% vs. the first quarter of 2024.
• Net income of $1.6 million, or $0.09 per diluted share, an increase of $33.2 million vs. the first quarter of 2024.
• Adjusted net income of $3.5 million, or $0.19 per diluted share, an increase of $34.1 million vs. the first quarter of 2024.
• Adjusted EBITDA of $58.7 million, or 8.8% of sales, an increase of $29.4 million vs. the first quarter of 2024.

Benzinga reports.

2) $KIDZ: Classover Holdings

Total gain: +33.95%

The company, announced that it has entered into an Equity Purchase Facility Agreement with Solana Strategies Holdings LLC providing for the sale by the Company of up to $400 million of Class B Common Stock. Benzinga reports.

3) $ADPT: Adaptive Biotechnologies 

Total gain: +33.76%

The company reported its results for the first quarter 2025.

• Revenue for the first quarter of 2025 was $52.4 million. The MRD business, which contributed 83% of revenue, grew 34% versus the first quarter of 2024.
• ClonoSEQ test volume in the first quarter of 2025 grew 36% to 23,117 tests delivered versus the first quarter of 2024.
• Received expanded Medicare coverage of clonoSEQ® for recurrence monitoring in mantle cell lymphoma.
• Recognized $4.5 million in MRD pharma regulatory milestone revenue.
• Raising full year 2025 MRD revenue guidance to a new range of $180 million to $190 million, implying annual growth of 24% to 31%.
• Reducing full year 2025 guidance range for operating spend and annual cash burn.

Benzinga reports.

Time (ET) / Report / Period

9:45 am - S&P final U.S. services PMI - April

10:00 am - ISM services - April

"Hope and fear are not part of the trader’s toolkit."

- Alexander Elder

Sourced in:
“Come Into My Trading Room: A Complete Guide to Trading”, by Alexander
Elder, published in 2002