Dow and Nasdaq futures are down triple digits
Stock futures are pointed lower this morning, as investors return from the holiday weekend and weigh the possibility of a recession ahead of a deluge of inflation data coming later this week. Futures on the Dow Jones Industrial Average (DJI) and Nasdaq Composite Index (NDX) are both down triple digits, while S&P 500 Index (SPX) futures sport more modest losses.
Continue reading for more on today's market, including:
Here's how the second quarter kicked off.
Levi Strauss stock plunged after earnings.
Plus, tailwinds for chip sector; First Republic Bank suspends dividend payments; and Tesla's updates.

5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.1 million call contracts and 811,472 put contracts traded on Thursday. The single-session equity put/call ratio rose to 0.69 and the 21-day moving average stayed at 0.78.
- Micron Technology Inc (NASDAQ:MU) is 5% higher in electronic trading, after Samsung Electronics revealed plans to cut near-term memory chip production, with many on Wall Street now speculating on an accelerated recovery for the semiconductor sector. Year-to-date, MU is up 17.2%.
- First Republic Bank (NYSE:FRC) is suspending preferred stock dividend payments, sending the shares 4.1% lower premarket. The regional bank stock has been struggling, shedding over 91% during the last 12 months.
- Tesla Inc (NASDAQ:TSLA) is 3.1% lower before the bell, even after the electric vehicle (EV) giant announced plans to cut prices. The company also revealed it will build a "megapack" battery factory in Shanghai. Though it carries a significant year-over-year deficit, TSLA is 50.2% higher in 2023.
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European Markets Shake Off Bank Volatility
Asian markets finished mostly higher on Monday, with the exception of China’s Shanghai Composite, which posted a 0.4% drop. Japan’s Nikkei rose 0.4% thanks to a big surge from Nintendo and the Super Mario Bros. movie, while the South Korean Kospi tacked on 0.9%. Hong Kong’s Hang Seng, meanwhile, remained closed for the Easter holiday.
European markets are higher midday, as bank stocks shake off the recent volatility. London’s FTSE 100 is up 1%, while the French CAC 40 and German DAX rise 0.1% and 0.5%, respectively.