The Empire State Manufacturing index came in at -8.1
Stock futures are slipping following yesterday's tech-fueled rally. Futures on the Dow Jones Industrial Average (DJI) are down 124 points, while S&P 500 (SPX) and Nasdaq-100 Index (NDX) futures are modestly lower as investors unpack this morning's economic data.
The New York Fed’s Empire State Manufacturing Survey remained in negative territory at -8.1, better than the anticipated -12.4%. However, the six-month outlook fell to -7.4 -- its lowest reading since 2022. Meanwhile, the import price index for March slipped 0.1%, following a 0.2% rise in February.
Continue reading for more on today's market, including:
- 3 interesting areas for S&P 500 bulls to evaluate, per Schaeffer's Senior V.P. of Research Todd Salamone.
- Netflix gearing up for earnings this week.
- Plus, more updates on the streaming giant; China cuts off BA; and BAC rises on earnings beat.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.5 million call contracts and over 1 million put contracts exchanged on Monday. The single-session equity put/call ratio came in at 0.68, while the 21-day moving average remained at 0.59.
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Netflix Inc (NASDAQ:NFLX) is up 1.9% premarket, after the company announced lofty new sales targets and a $1 trillion market capitalization by 2030. As previously mentioned, the streaming giant will report earnings on Thursday. Year to date, the equity is up 4.5%.
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Boeing Co (NYSE:BA) is down 3.6% before the bell, after China ordered carriers to suspend
jet deliveries amid the trade war with the U.S. Since the start of 2025, BA is down 10%.
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Shares of
bank giant Bank of America Corp (NYSE:BAC) are up 1.3% in electronic trading, after the company's better-than-expected first-quarter results amid strong trading revenue. Year-to-date, BAC is down 16.6%.
- This week will bring plenty more economic data, including retail sales data and housing starts.
Stocks Higher Overseas
Asia-Pacific markets mostly rose Tuesday, following a tech-led rally on Wall Street and continued optimism around U.S. tariff policy. Japan’s Nikkei climbed 0.8%, while South Korea’s Kospi added 0.9%. Hong Kong’s Hang Seng added 0.2%, and China’s Shanghai Composite tacked on 0.2% ahead of tomorrow’s closely watched first-quarter gross domestic product (GDP) report.
In Europe, stocks are higher across the board as investors eye potential relief from U.S. auto tariffs. Germany’s DAX is leading with a 1.1% gain, followed by London’s FTSE 100 with a 0.8% lead. France’s CAC 40 was last seen up 0.3%, even as questions linger over the duration of President Trump’s broader tariff pause.