President Donald Trump is targeting the entertainment industry
Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) futures are firmly below breakeven this morning, with both benchmarks at risk of snapping nine-day win streaks as futures on the Nasdaq-100 Index (NDX) gap lower as well. Today's premarket losses come after President Donald Trump revealed over the weekend he allowed government agencies to impose a 100% levy on movies made outside of the U.S.
Traders are also monitoring U.S.-China trade tensions, after Trump noted he has no plans to talk to Chinese President Xi Jinping. He also said that while tariff negotiations with other countries are underway, he would ultimately "set the deal, they don’t set the deal.”
Continue reading for more on today's market, including:
- How to find the best broker for options trading.
- Tech earnings powered last week's win streaks.
- Plus, tariffs ding NFLX; new coverage for OKTA; and biopharmaceutical giant's profit miss.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.9 million call contracts and 1 million put contracts exchanged on Friday. The single-session equity put/call ratio came in at 0.49, while the 21-day moving average dipped to 0.59.
- Netflix Inc (NASDAQ:NFLX) stock is down 5.5% before the open, after President Trump said he would impose a 100% tariff on movies produced outside of the U.S., which could sharply increase costs for the entertainment industry. NFLX sports a 104.6% year-over-year lead, though.
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The shares of
Okta Inc (NASDAQ:OKTA) are down 0.4% in premarket trading, despite Loop Capital initiating coverage with a
"buy" rating and setting its price objective at $140, implying more than 24% upside to Friday's close. OKTA already gained 43.3% so far in 2025.
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TG Therapeutics Inc (NASDAQ:TGTX) is down a 9.8% ahead of the bell, as the
biopharmaceutical company's first-quarter profit miss overshadows its revenue win and raised 2025 guidance. TGTX still added an impressive 164.6% in the past 12 months.
- Inflation data is due out this week, and the Federal Open Market Committee’s (FOMC) two-day policy meeting will be in focus.
European Markets Mixed o Corporate News
Markets in Hong Kong, Japan, South Korea, and mainland China were closed Monday for holidays, but currencies across the region strengthened as the U.S. dollar weakened. The Japanese yen rose 0.7%, while the offshore yuan firmed 0.2%.
In Europe, stocks are mixed to start the week, with London markets closed for a bank holiday. Germany’s DAX was last seen up 0.5%, while France’s CAC 40 slips 0.7%. Corporate news drove much of the action, with Erste Group shares popping after a major acquisition and Eutelsat jumping on a leadership shake-up. Investors are also eyeing central bank meetings and key earnings reports slated for later this week.