The market is on track for big gains ahead of the bell
The market is staging a strong rebound following last week's wipeout and yesterday's extreme volatility. Dow Jones Industrial Average (DJI) futures are up 1,095 points ahead of the open, while futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also trading firmly higher.
In the latest trade updates, China isn't backing down on retaliatory tariffs, while Treasury Secretary Scott Bessent told CNBC that 70 other countries had approached the U.S. for tariff negotiations. Meanwhile, Big Tech stocks are slightly higher premarket as investors target the beaten-down shares.
Continue reading for more on today's market, including:
- 2 key SPX trendlines to watch, per Schaeffer's Senior V.P. of Research Todd Salamone.
- Interactive Brokers stock flashing 'buy' signal.
- Plus, 3 individual stocks rising premarket.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.8 million call contracts and over 1.1 million put contracts exchanged on Monday. The single-session equity put/call ratio came in at 0.63, while the 21-day moving average fell to 0.59.
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Lockheed Martin Corp (NYSE:LMT) is up 2.4% premarket, looking to bounce off last session's 52-week lows, after Vietnam announced it would purchase
U.S. defense and security products in an effort to mend the trade gap. LMT is also brushing off a price-target cut from Wells Fargo to $432 from $476.
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Broadcom Inc (NASDAQ:AVGO) is up 5.4% before the bell, after the company announced a $10 billion share buyback program. Year-to-date, the equity is down 33.5% heading into today.
- Charles Schwab Corporation (NYSE:SCHW) is up 3.8% in electronic trading, after an upgrade from Morgan Stanley to "overweight" from "equal weight," with a price-target cut to $76 from $91. No fewer than three other analysts slashed their price objectives as well. Since the start of 2025, SCHW is down 5.4%.
- Inflation data and big bank earnings this week.
Stocks Rebounding Overseas as Well
Asian markets were in recovery mode today, all ending significantly higher after several days of steep losses. The Chinese yuan fell to its lowest mark since 2023, however, following yesterday’s additional tariff threats from Trump. For the day, Japan’s Nikkei surged 6%, Hong Kong’s Hang Seng added 1.5%, China’s Shanghai Composite tacked on 1.6%, and South Korea’s Kospi rose 0.3%.
Sentiment is also improved across the pond, with all major indexes last seen higher. In other news, the European Union (EU) exempted U.S. whiskey, wine, and dairy products from the 25% retaliatory tariffs, boosting the beverage sector. At last check, France’s CAC 40 and Germany’s DAX are both up 2.3%, while London’s FTSE 100 is 2.4% higher.