Stock Futures Struggle Again as Economic Uncertainty Weighs

Stock futures tried to recover from Monday’s massive sell-off. Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) futures were poised to rebound earlier in the morning, but have since pared premarket gains and now look flat as the bell looms. Anxiety remains elevated after Treasury Secretary Scott Bessent warned of a potential "detox period" as President Donald Trump's administration slashes federal spending.

New data is also weighing on sentiment, with the National Federation of Independent Business (NFIB) Small Business Optimism Index below estimates for February. The survey’s Uncertainty Index jumped to 104, marking its second-highest reading on record, further underscoring market jitters over future conditions.

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

• Senior V.P. of Research Todd Salamone on the VIX's intriguing behavior.
• Bullish signal flashing for hotel stock.
• Plus, Tesla stock stalling in 2025, Delta's dreary forecast; and Oracle earnings.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 2.1 million call contracts and 1.2 million put contracts exchanged on Monday. The single-session equity put/call ratio fell to 0.60, while the 21-day moving average stayed at 0.60.
2. Tesla Inc (NASDAQ:TSLA) stock plunged 15.4% on Monday, deepening its 45% year-to-date decline, as recession fears and a bearish delivery forecast from a Wall Street analyst pressured the stock. Concerns are also mounting that CEO Elon Musk’s involvement in Trump’s administration is distracting him from company operations. Despite this, shares edged up 1.5% in premarket trading, even after Musk admitted on Fox Business that he was running his businesses “with great difficulty.”
3. Delta Air Lines Inc (NYSE:DAL) stock is off by 6.3% before the open, after slashing its first-quarter earnings and revenue forecasts due to weaker consumer and corporate demand. The airline giant now expects adjusted earnings of 30 to 50 cents per share, down from its prior 70 cents to $1 range, and cut its revenue growth outlook. Since the start of the year, DAL has taken a 16.8% haircut.
4. Oracle Corp (NYSE:ORCL) stock is 1.5% lower before the opening bell, after reporting fiscal third-quarter earnings and revenue that missed analysts’ expectations. However, the enterprise software giant announced new cloud agreements with OpenAI, Meta (META), and Nvidia (NVDA), which it expects to help drive a 15% revenue increase in the next fiscal year starting in June. ORCL sports a 10.7% year-to-date deficit.
5. More inflation data and retail earnings reports are on tap.

Japan's GDP Misses Estimates; European Markets Mirror Stateside Losses

Asian stocks were mixed in the wake of the U.S. selloff. South Korea’s Kospi paced the region with a 1.3% pullback, while Hong Kong’s Hang finished flat. Japan’s Nikkei gave back 0.6%, with tech giant Konica Minolta weighing, as well as a revised gross domestic product reading that fell short of estimates. China’s Shanghai Composite eked out a 0.4% win.

Over in Europe, bourses are lower, with travel and leisure stocks among the notable laggards. At last check, London’s FTSE 100 is off by 0.5%, the French CAC 40 is 0.4% lower, and the German DAX is flat.