Investors are betting on softer-than-expected tariffs
Stock futures are muted Tuesday, as Wall Street looks to build on Monday’s gains amid optimism that President Donald Trump may scale back his sweeping tariff plans. Futures on the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) are all up roughly 0.2%, as all three indexes eye a third consecutive win. Investors are also awaiting the latest consumer confidence data due at 10 a.m. ET, with economists forecasting a March reading of 93.5 -- down from February’s 98.3.
Continue reading for more on today's market, including:
- Senior V.P. of Research Todd Salamone lays out the SPX trendlines to watch.
- Who is buying Azek Company?
- Plus, DJT launches crypto ETF; KBH earnings; and Cintas ends UniFirst talks.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 2.2 million call contracts and 1 million put contracts exchanged on Monday. The single-session equity put/call ratio fell to 0.48, while the 21-day moving average stayed at 0.60.
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Shares of media and technology name Trump Media & Technology Group Corp (NASDAQ:DJT) are 8.8% higher premarket today, after announcing a partnership with Crypto.com to launch a lineup of exchange-traded funds (ETFs). The ETFs will feature digital assets and U.S.-focused securities across industries like energy, with plans to launch later this year. Coming into today, DJT was down 38.4% year-to-date.
- KB Home (NYSE:KBH) stock is down 7.8% before the bell, after the company reported disappointing fiscal first-quarter earnings. Revenue of $1.39 billion missed expectations and marked a 5.2% year-over-year decline. The homebuilder also lowered its full-year housing revenue forecast due to a slowdown in new orders and ongoing affordability challenges. KB Home stock is poised to add to a 6% year-to-date deficit today.
- UniFirst Corp (NYSE:UNF) stock is 10.2% lower in electronic trading, after Cintas (CTAS) ended acquisition talks. Cintas had made a $5.3 billion offer for the uniform provider in January, but the proposal was declined. Cintas stated it no longer sees a reason to continue discussions. Should today's losses hold, UNF will cut into its 15.5% year-to-date gain.
- Get ready for tons of economic data and a few notable earnings reports.
Japan 5-Year Government Bond Yields Hit Highest Level Since 2008
Asian markets were once more scattered. Hong Kong’s Hang Seng paced the laggards with a 2.4% drop, with tech stocks weighing. Small caps led South Korea’s Kospi 0.6% lower, while China’s Shanghai Composite finished flat. Japan’s Nikkei added 0.5%, even as five-year government bond yields rose to levels not seen since 2008.
European bourses are moving confidently higher, with energy stocks leading the way. At last check, London’s FTSE 100 is up 0.8% and the French CAC 40 has risen 1.5%. The DAX has climbed 1.4%, after the German business climate index rose month-over-month in March, sending the 10-year bond yield higher.