Futures on the Dow and Nasdaq are off by triple digits
Wall Street is pointing to a lower open, as selling pressures from last week continue to weigh on stocks. Futures on the Dow Jones Industrial Average (DJI) and Nasdaq-100 Index (NDX) are down triple digits, while S&P 500 Index (SPX) are also in the red, with investors bracing for a busy week of economic data that could shape expectations for Federal Reserve policy.
Markets remain on edge amid ongoing tariff negotiations between the U.S., Mexico, and Canada, with investors closely watching for updates from Washington, D.C. Over the weekend, President Donald Trump downplayed recession fears, calling the current economic climate “a period of transition” in an interview on Fox News. Traders will be closely monitoring consumer expectations data today, with key inflation reports due later this week.
Continue reading for more on today's market, including:
- Behind the Dow's dramatic selloff last week.
- Revisiting this retailer's profit miss.
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Plus, Rocket acquires Redfin; Robinhood's massive fines; and ABNB's bull note.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 2.3 million call contracts and nearly 3 million put contracts exchanged on Friday. The single-session equity put/call ratio surged to 1.23, while the 21-day moving average stayed at 0.60.
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Shares of Redfin Corp (NASDAQ:RDFN) are 76% higher premarket, after the real estate brokerage and mortgage origination services company agreed to be acquired by Rocket Companies (RKT) in an all-stock deal valued at $1.75 billion. Rocket will purchase Redfin for $12.50 per share, with the transaction expected to close in the second or third quarter. Coming into today, RDFN was down 26.1% year-to-date.
- Robinhood Markets Inc (NASDAQ:HOOD) stock is down 6.7% in electronic trading, after Finra ordered the company to pay nearly $30 million in fines and restitution for allegedly violating numerous industry regulations. The brokerage industry’s self-regulatory organization announced the penalties late Friday. HOOD is on track to cut into its 19.2% year-to-date lead.
- Airbnb Inc (NASDAQ:ABNB) stock is flat ahead of the open, after Jefferies upgraded the stock to "buy" from "hold" and raised its price target to $185 from $165, citing improving fundamentals and growth potential for the short-term rental platform. So far in 2025, ABNB has added 2.3%.
- More inflation data and retail earnings reports are on tap.
Global Economic Fears Weigh on Overseas Markets
Asian bourses opened the week as a mixed bag. The Nikkei added 0.4%, as Japan’s cash earnings showed a slower-than-expected growth of 2.8% year-over-year in January. South Korea’s Kospi tacked on 0.3%, despite a move lower from small caps. The Shanghai Composite gave back 0.2%, after China’s consumer price index (CPI) fell below 0 for the first time in over a year. The country also announced retaliatory tariffs on some Canadian agricultural goods. Hong Kong’s Hang Seng led the region with a 1.9% drop.
Over in Europe, markets are choppy and pivoting into the red midday, as global economic unease extends another week. At last check, London’s FTSE 100 is 0.4% lower, while the French CAC 40 and German DAX are off by 0.4% and 0.9%, respectively, the entire continent brushing off outsized moves higher from various auto stocks like BMW and Stellantis (STLA).