Tariffs on Mexico and Canada are on pause
President Donald Trump paused tariffs on Mexico and Canada after reaching deals to enhance border control. Meanwhile, China retaliated with an additional tariff of up to 15% on select U.S. imports, set to take effect on Monday, Feb. 10. Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) futures are lower, while futures on the Nasdaq-100 Index (NDX) are poised to open above breakeven. Investors are also eyeing durable goods orders and the Jobs Openings and Labor Turnover Survey (JOLTS) for December, both due later today.
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5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.7 million call contracts and 936,471 put contracts traded on Monday. The single-session equity put/call ratio rose to 0.54 and the 21-day moving average stayed at 0.60.
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PepsiCo Inc (NASDAQ:PEP) stock is down 2.2% in premarket trading, brushing off a fourth-quarter earnings beat after also sharing a revenue miss. The company also saw demand for its products weaken for a
fifth consecutive quarter. PEP is down 12.1% in the last 12 months.
- Pfizer Inc (NYSE:PFE) announced better-than-expected earnings and revenue for the fourth quarter, noting strong sales of its Covid-19 products and cost cuts. PFE is up 1.8% before the open, and may today swing above its year-to-date breakeven.
- Shares of PayPal Holdings Inc (NASDAQ:PYPL) are down 7.4% ahead of the bell, brushing off a top- and bottom-line beat for the fourth quarter due to contracting margins. The company also announced an upbeat 2025 forecast thanks to Venmo growth. PYPL still sports a 45.5% year-over-year lead, though.
- Key manufacturing and services data due out this week.

Global Markets Scattered Amid Tariffs
While Chinese markets remained closed for the Lunar holiday, Japan’s Nikkei and the South Korean Kospi rose 0.7% and 1.1%, respectively, as investors eyed tariff updates from the U.S. In response to Trump’s 10% tariff, China levied tariffs on U.S. imports, including an up to 15% tax on coal and liquefied natural gas.
European markets are mixed today amid tariff uncertainty. London’s FTSE 100 is down 0.2% at last glance, while the French CAC 40 rises 0.3% and the German DAX climbs 0.1%. Britain-based Diageo is in focus, after the drink giant pulled its medium-term guidance amid tariffs potentially looming.