The Fed's two-day policy meeting is also in focus
Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) futures are firmly lower this morning, after both indexes yesterday snapped impressive win streaks. Futures on the tech-heavy Nasdaq-100 Index (NDX) are also swimming in red ink as traders eye the Federal Reserve's two-day policy meeting, with the central bank expected to keep rates unchanged.
Wall Street is monitoring trade talks as concerns over trade policy linger, despite assurance from the Trump administration that deals are close. President Donald Trump is expected to meet new Canadian Prime Minister Mark Carney for negotiations today.
Continue reading for more on today's market, including:
- Lululemon stock is among May's historical underperformers.
- The SPX may soon see major upside, per Senior V.P. of Research Todd Salamone.
- Plus, DoorDash's acquisition; PLTR gaps lower despite earnings win; and Ford pulls 2025 guidance.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.4 million call contracts and 885,175 put contracts exchanged on Friday. The single-session equity put/call ratio came in at 0.60, while the 21-day moving average dipped to 0.59.
- DoorDash Inc (NASDAQ:DASH) stock is down 5.5% before the open, after the food delivery concern missed first-quarter revenue estimates. The company also revealed it acquired restaurant booking platform SevenRooms for $1.2 billion in an all cash transaction. So far this year, DASH added 22.4%.
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Palantir Technologies Inc (NASDAQ:PLTR) beat revenue expectations for the first quarter, but profits came in line with analysts' projections. The tech giant also raised its full-year outlook amid strong demand for its
artificial intelligence (AI) software. PLTR added 430.5% in the last 12 months, but is down 8% in premarket trading.
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Despite surpassing first-quarter top- and bottom-line expectations,
Ford Motor Co (NYSE:F) pulled its 2025 guidance and forecasted a $2.5 billion impact from tariffs for the year. F is down 2.3% ahead of the bell, looking to extend its 16.9%
year-over-year deficit.
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Inflation data is due out this week, and the Federal Open Market Committee’s (FOMC) two-day policy meeting will be in focus.
European, Asian Markets Moving Oppositely
Asian markets rose Tuesday as investors assessed U.S. trade negotiations and monitored currency movements. China’s Shanghai Composite led the region with a 1.3% gain after reopening from the Labor Day holiday, while Hong Kong’s Hang Seng added 0.7%. Japan’s Nikkei climbed 1%, and South Korea’s Kospi edged 0.1% higher. A stronger U.S. dollar pressured regional currencies, and China’s services purchasing managers’ index (PMI) showed signs of softening.
In Europe, stocks are lower at last glance, as corporate earnings and political uncertainty weigh on sentiment. Germany’s DAX is down 0.9% following a failed chancellorship vote, while France’s CAC 40 has shed 0.5%, and London’s FTSE 100 is off 0.2%. Mining and industrial names are pacing regional losses.