Above Chart: Opened higher but pulled back intraday, showing signs of profit-taking after gains. However, the short-term moving averages continue to slope upward, indicating underlying bullish momentum remains.

 Pre-Market Analysis
Here’s what our institution is seeing:
We currently estimate a 40% probability that the U.S. economy will enter a recession in the second half of 2025. This projection is largely driven by the escalation of tariffs, which could trigger a scenario of stagflation, a period marked by high inflation combined with sluggish economic growth, similar to what the U.S. experienced during the 1970s.