Stock Futures Rise as Tech Outperforms

Stock futures are higher this morning, as Wall Street looks to build on a strong start to the week that pushed the S&P 500 Index (SPX) into positive territory for 2025. Futures on the Nasdaq-100 Index (NDX) and Dow Jones Industrial Average (DJI) are both eyeing solid opens, while SPX futures are more modestly in the black.

Investors are still reacting to Monday’s news of a 90-day tariff rollback between the U.S. and China, which helped spark a risk-on rally in tech. Nvidia (NVDA) surged on news it will send 18,000 chips to Saudi Arabia, while other Big Tech names like Apple (AAPL) and Amazon.com (AMZN) look to extend their multi-day win streaks.

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

• Outside days may be time to 'buy the dip,' says Senior Quantitative Analyst Rocky White. 
• 3 drone stocks buzzing right now.
• Plus; luxury stock upgraded; UNH rebounds; and JD.com's post-earnings reaction.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 3.4 million call contracts and over 1.9 million put contracts exchanged on Tuesday. The single-session equity put/call ratio rose to 0.55, while the 21-day moving average stayed at 0.59.
2. PVH Corp (NYSE:PVH) stock is up 1.4% premarket, after Jefferies upgraded the retail stock to “buy” from “hold.” The brokerage noted PVH is positioned for a recovery as the Tommy Hilfiger and Calvin Klein parent undergoes a business transformation. PVH sports a 29.1% year-over-year deficit.
3. UnitedHealth Group Inc (NYSE:UNH) stock is up 3.4% before the bell, following yesterday’s nearly 18% plunge after the company’s CEO stepped down for “personal reasons” and health insurer suspended its 2025 financial forecast. Year to date, UNH is down 38.5%.
4. JD.com Inc (NASDAQ:JD) stock is down 1.8% in electronic trading, despite the e-tailer's better-than-expected first-quarter earnings and revenue. The company cited “improving consumer sentiment,” though analysts expect flat earnings growth in 2025 and mounting losses in its food delivery unit. Morgan Stanley lowered its 12-month price target to $39 from $41. Over the last nine months, JD has added 42.6%.
5. There's more than just CPI data due out this week.

Asian Markets Finish Mostly Higher, European Bourses Mixed

Asian markets were higher today, with the exception of Japan’s Nikkei, which shed 0.1% to snap a four-day win streak. Hong Kong’s Hang Seng paced the region with a 2.3% gain, while China’s Shanghai Composite added 0.9%, the latter boosted by upbeat revenue numbers from e-commerce giant JD.com. South Korea’s Kospi tacked on 1.2%, after the country’s unemployment fell to seven-month lows.

In Europe, bourses are more mixed. London’s FTSE 100 is marginally higher at last check, while the French CAC 40 is 0.4% lower, dragged by a dismal post-earnings reaction from train maker Alston. The German DAX is off by 0.3%, with defense manufacturer Renk slipping despite a boom in orders.