Dow, Nasdaq-100 Futures Up Triple Digits Amid Steel Tariffs

Investors are also looking towards January's CPI report, due out on Wednesday

Fernanda Horner

Digital Content Manager

Feb 10, 2025 at 9:13 AM

Futures on the Dow Jones Industrial Average (DJIA) and Nasdaq-100 (NDX) are eyeing a triple-digit pop this morning, while S&P 500 Index (SPX) futures point higher as well. President Donald Trump on Sunday revealed plans to impose a 25% tariff on steel and aluminum imports -- boosting the sector -- and threatened countries that tax U.S. imports with tariffs as well. Traders have more earnings reports to unpack as they await January's consumer price index (CPI) report, due out on Wednesday.

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

Options traders should consider this steel stock.
Digging into Amazon's soft quarterly outlook.
Plus, why BP is surging; McDonald's brushes off revenue miss; and chip stock gaps lower.

5 Things You Need to Know Today

The Cboe Options Exchange (CBOE) saw more than 2.5 million call contracts and 1.3 million put contracts exchanged on Friday. The single-session equity put/call ratio fell to 0.52 and the 21-day moving average stayed at 0.60.
BP plc (NYSE:BP) stock is up 6.7% in premarket trading, amid reports that activist investor Elliott Management built a stake in the oil and gas name. The equity is up 17.8% so far in 2025.
McDonald's Corp (NYSE:MCD) announced a fourth-quarter revenue miss earlier, while profits were in line with expectations. The fast food giant saw same-store sales decline amid lower consumer spending, though it saw international growth. MCD is up 1.6% before the bell, and added 9.9% in the last nine months.
Shares of ON Semiconductor Corp (NASDAQ:ON) are down 4.6% ahead of the open, after the chip name missed top- and bottom-line expectations for the fourth quarter and issued a disappointing fiscal first-quarter forecast, noting weaker auto demand. ON shed 36.5% in the last 12 months.
Inflation data for January is on tap this week.

buzzfeb10

Asian Markets Digest Tariffs, Economic Data

Asia markets were mostly higher Monday, though investors remain cautious amid escalating trade tensions, especially as President Trump weighs more tariffs. Japan’s Nikkei ended flat, amid a slight dip in loan growth to 3% year over year in January. South Korea’s Kospi was also muted. In China, the Shanghai Composite closed 0.6% higher after consumer inflation hit a five-month high in January due to Lunar New Year spending, with the consumer price index rising 0.7% monthly and 0.5% annually, exceeding expectations. China’s producer price index (PPI) shed 2.3% year over year, steeper than forecasted. Elsewhere, Hong Kong’s Hang Seng surged 1.8%.

European markets are inching higher, for now brushing off tariff concerns. London’s FTSE 100 was last seen up 0.6%, with BP powering gains amid reports of activist investor Elliott Management's investment. Meanwhile, France’s CAC 40 is up 0.2% at last check, and Germany’s DAX climbs 0.4%

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