Investors are eyeing tomorrow's Fed Chair remarks
Stock futures are extending Friday's slump. At last glance, Dow Jones Industrial Average (DJIA) and Nasdaq-100 Index (NDX) futures are pacing for triple-digit drops, while S&P 500 Index (SPX) futures are also set to open firmly lower. Investors are eyeing Federal Reserve Chair Jerome Powell's speech before the Economic Club of Washington tomorrow, as well as more earnings, with Walt Disney (DIS) and Chipotle Mexican Grill (CMG) to report later this week.
Continue reading for more on today's market, including:.

5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 2 million call contracts and 1.1 million put contracts traded on Friday. The single-session equity put/call ratio rose to 0.57 and the 21-day moving average stayed at 0.80.
- Spotify Technology SA (NYSE:SPOT) is drawing analyst attention this morning, with Wells Fargo and Atlantic Equities both upgrading the music streaming giant "overweight." The former praised the company's improving margins. SPOT is already up 53.5% in 2023 and is up 2.7% in premarket trading.
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Dell Technologies Inc (NYSE:DELL) became the latest tech giant to
announce layoffs. The company will let go of roughly 5% of its workforce, as it struggled with slowing personal computer demand and prepares for a potential recession. DELL is up 1.8% before the open, but down 28.6% year-over-year.
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The shares of
Lyft Inc (NASDAQ:LYFT) are down 2.7% ahead of the open, after Gordon Haskett downgraded the
ridesharing stock to "hold" from "buy." The firm expressed concerns over Lyft's fourth-quarter active rider metrics. LYFT has shed 52.2% over the last 12 months.
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There are no relevant economic indicators scheduled for today.

European, Asian Markets Mostly Lower
Stocks in Asia were mostly lower following the Fed decision in the U.S. Japan’s Nikkei was the only winner, adding 0.7%, amid reports that the Bank of Japan (BoJ) has asked its deputy governor Masayoshi Amamiya to take Haruhiko Kuroda’s place in leading the central bank. Due to lagging tech Hong Kong’s Hang Seng led the losses with a 2% drop, while the South Korean Kospi and Shanghai Composite fell 1.7% and 0.8%, respectively.
European markets, meanwhile, are all lower midday, as euro zone bond yields rise while investors contemplate the European Central Bank’s (ECB) future in regard to rate hikes. London’s FTSE 100 is down 0.7% at last glance, while the German DAX falls 0.8%, and the French CAC 40 sheds 1.3%.