The Dow and Nasdaq are down triple digits
Stocks futures are firmly lower this morning, with futures on the Dow Jones Industrial Average (DJI) and Nasdaq-100 Index (NDX) down triple digits ahead of President Donald Trump's broad reciprocal tariffs. While details remain unclear, the levies are expected to target “all other countries,” keeping investors on edge.
On the data front, the ADP employment report showed private payrolls adding 155,000 jobs in March -- topping estimates and more than double February’s revised 77,000. However, job openings for February came in at 7.57 million, just below expectations.
Continue reading for more on today's market, including:
- A look at April seasonality with Schaeffer's Senior Quantitative Analyst Rocky White.
- Morgan Stanley stock posing attractive entry point.
- Plus, WOOF surges on insider buying; NMAX pulls back; and NOW hit with bear note.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.3 million call contracts and 687,632 put contracts exchanged on Monday. The single-session equity put/call ratio fell to 0.53, while the 21-day moving average stayed at 0.60.
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Petco Health & Wellness Company Inc (NASDAQ:WOOF) is up 7.1% before the bell, amid reports that CEO Joel D. Anderson bought up another 1,586,088 shares for approximately $4.7 million. Shares of the
pet supply retail giant also surged after earnings last week, and is still trading around those levels, but year-to-date, the equity is down 22.3%.
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Conservative cable channel
Newsmax Inc (NYSE:NMAX) is down 22.7% premarket, pulling back from the skyrocketing price action it saw the past couple days after its
initial public offering (IPO). Still, the stock looks like it will open around $180, which is a massive premium to its $14 IPO.
- Shares of ServiceNow Inc (NYSE:NOW) are down 1.6% in electronic trading, after Stifel cut its price target to $950 from $1,175. The firm cited “mid-market uncertainty” amid tariff pressures. Since the start of 2025, NOW is down 23.4%.
- Employment data coming up this week.
Global Markets React to U.S. Trade Tensions
Trump’s tariffs remained the theme of contention globally today. Asian markets closed mixed as anticipation loomed, with Bank of Japan (BoJ) Governor Kazuo Ueda warning of the huge impact the levies will have on global trade. In South Korea, inflation rose 2.1% year-over-year in March, a larger increase than February’s 2% and analyst expectations. South Korea’s Kospi fell 0.6% for the session, while Hong Kong’s Hang Seng and China’s Shanghai Composite finished flat. Japan’s Nikkei enjoyed a 0.3% gain.
Trade woes are pushing European stocks lower today. At last glance, Germany’s DAX is leading losses with a 1.2% drop, France’s CAC 40 is 0.5% lower, and London’s FTSE 100 is off 0.6%.