Futures on the tech-heavy Nasdaq are also below breakeven
Futures on the Dow Jones Industrial Average (DJIA) are indicating another slightly lower open this morning, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are firmly below breakeven. The SPX is at risk of snapping a six-day win streak following yesterday's last-minute gains, as traders continue to mull over the impact of tariffs and the possibility of a U.S. recession, especially on the heels of Moody's government credit downgrade.
Continue reading for more on today's market, including:
- Schaeffer's Senior V.P. of Research Todd Salamone highlights 3 resistance levels that could shape the S&P 500’s next move.
- 2 social media stocks in focus as Reddit drama unfolds.
- Plus, BA brushes off bull note; HD's earnings move; and GM's exports update.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.8 million call contracts and over 884,743 put contracts exchanged on Monday. The single-session equity put/call ratio rose to 0.48, while the 21-day moving average stayed at 0.59.
- Boeing Co (NYSE:BA) stock is flat ahead of the open, brushing off a price-target hike from Bernstein to $249 from $218, with the analyst in coverage noting a "history of momentum." BA is up more than 15% so far in 2025.
- Shares of Home Depot Inc (NYSE:HD) are up 2.3% in premarket trading, after the home improvement giant reinstated its full-year outlook and added it does not plan to raise prices amid tariffs. HD boasts a 10.2% year-over-year lead.
- General Motors Co (NYSE:GM) stock is down 0.9% before the bell, after the auto giant said it would stop exporting vehicles from the U.S. to China. GM carries a 6% year-to-date deficit.
- Retail earnings, Fed speeches, and economic data on deck this week.
European Markets Rise on Earnings, Corporate Updates
Asian markets mostly climbed Tuesday, after China’s central bank cut its key lending rates for the first time in seven months to support economic growth. The People’s Bank of China trimmed the one-year loan prime rate to 3.0% and the five-year to 3.5%, both by 10 basis points. Hong Kong’s Hang Seng rose 1.5%, while the Shanghai Composite added 0.6%. Japan’s Nikkei tacked on 0.08%, and South Korea’s Kospi finished flat.
In Europe, stocks are modestly higher at last glance, as earnings and corporate shake-ups dominate the headlines. London’s FTSE 100 and France’s CAC 40 have both added 0.6%, and Germany’s DAX is little changed. Traders are reacting to leadership changes at Novo Nordisk (NVO) and additional capital requirements looming over UBS, while attention also turns to Vodafone, Greggs, and Swiss Life earnings results.