Nasdaq Futures Slide Alongside Tech Stocks

This week will bring bank earnings and two inflation reports

Laura McCandless

Deputy Editor

Jan 13, 2025 at 9:12 AM

Futures on the Nasdaq-100 Index (NDX) are down 202 points ahead of the open amid a decline in tech stocks, while Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) futures sit lower as well. Investors are looking ahead to this week's inflation data, as well as an incoming flood of bank earnings. Meanwhile, the 10-year Treasury yield is nearing the psychologically significant 5% threshold after last week's spike.

Continue reading for more on today's market, including: .

The worst S&P 500 stock of 2024 skyrocketed Friday.
Rising bond yields highlighted the end of last week.
Plus, two biotech stocks making outsized moves and LULU jumps on upbeat outlook.

5 Things You Need to Know Today

The Cboe Options Exchange (CBOE) saw more than 2.7 million call contracts and over 1.9 million put contracts exchanged on Friday. The single-session equity put/call ratio rose to 0.70 and the 21-day moving average remained at 0.61.
Sage Therapeutics Inc (NASDAQ:SAGE) is up 37.5% premarket, after news of Biogen's (BIIB) proposed takeover. Late Friday, the biopharmaceutical name said it would carefully review the unsolicited $442 million bid. Year over year, SAGE is down 79.4%.
On the other hand, Moderna Inc (NASDAQ:MRNA) is down 19.3% before the bell, after the company slashed its 2025 sales forecast on slowing Covid vaccine demand. Should these losses hold, the equity will notch fresh record lows straight out of the gate.
Retail stock Lululemon Athletica Inc (NASDAQ:LULU) is up 2.7% in electronic trading, after the retailer lifted its current-quarter and full-year revenue forecasts after strong holiday sales. Since last January, the stock has shed 18.4%, though the 20-day moving average has attempted to remain as support.
Which key bank earnings are coming up this week.

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Stocks Lower Overseas as Well

Asian markets fell Monday, as traders in the region continued to assess Friday’s stateside jobs report that dinged hopes of near-term interest rate cuts. Meanwhile, in China, exports and imports in December easily bested estimates, while the People’s Bank of China and other regulators in the country pledged support to stabilize the yuan. Still, China’s Shanghai Composite erased 0.3%, and Hong Kong’s Hang Seng fell 1%. Elsewhere, South Korea’s Kospi shed 1%, while markets in Japan were closed for a holiday.

Stocks in Europe are also lower this afternoon, as traders continue to eye bond yields in the region. Higher U.K. borrowing costs are sending gilts soaring, with the 10-year yield rising to its highest level 2008. At last glance, France’s CAC 40, Germany’s DAX, and London’s FTSE 100 are 0.5%, 0.4%, and 0.3% lower, respectively.

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