President Donald Trump's proposed tariffs are also in focus
S&P 500 Index (SPX) futures are lower this morning after the benchmark yesterday scored a record high, with futures on both the Dow Jones Industrial Average (DJIA) and Nasdaq-100 Index (NDX) also set to open with losses. Investors are weighing President Donald Trump's proposed 25% tariff on chips, automobiles, and pharmaceuticals, as they unpack a slowdown in housing starts for January. Wall Street is also eyeing the Federal Reserve's meeting minutes, due out later today.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 2.6 million call contracts and 1.3 million put contracts exchanged on Tuesday. The single-session equity put/call ratio rose to 0.50 and the 21-day moving average stayed at 0.60.
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The shares of
SolarEdge Technologies Inc (NASDAQ:SEDG) are up 16% in premarket trading, after the company blew past
revenue estimates for the fourth quarter and also issued an upbeat forecast for the first quarter. SEDG rose 61.8% over the last three months, but still carries an 80.1% year-over-year deficit.
- Homebuilding giant Toll Brothers Inc (NYSE:TOL) reported a fiscal first-quarter earnings and revenue miss earlier, as home deliveries came in below estimates. The security is down 5.8% ahead of the bell, and is looking to trim its 19.4% year-over-year lead.
- Jefferies upgraded STMicroelectronics NV (NYSE:STM) stock to "buy" from "hold," with the firm noting it expects the company to rebound after the first quarter. Shares of the semiconductor name are up 5.5% before the bell, but shed 46% over the past 12 months.
- Inflation, manufacturing, and services data still on tap this week.
European Markets Slip on Earnings, Inflation Data
Asian markets were scattered across the board today, amid economic data and U.S. trade updates. Japan’s trade deficit hit a two-year high of 2.76 trillion yen ($18.2 billion), while its manufacturer’s sentiment index rose to +3 – its highest level since November. In response, the Nikkei gave back 0.3%. Elsewhere, China’s home prices fell 5% year-over-year in January, up from December’s 5.3%, sending the Shanghai Composite 0.8% lower. Rounding out the region, Hong Kong’s Hang Seng shed 0.2%, while the South Korean Kospi jumped 1.7%. Stateside, President Trump proposed tariffs on autos, semiconductors, and pharmaceutical imports in the 25% ballpark.
European bourses are lower at last check, as investors unpack a flood of corporate earnings and a hotter-than-expected January inflation reading of 3% out of the U.K. London’s FTSE 100 is down 0.6% at last check, while the French CAC 40 falls 0.8%, and the German DAX drops 1%.