Futures on the Dow Jones Industrial Average (DJI) and Nasdaq-100 Index (NDX) are up triple digits this morning, while S&P 500 Index (SPX) futures sit comfortably higher as well. The market is shrugging off 'reciprocal tariffs,' which went into effect at midnight for Switzerland, India, Thailand, and many more. President Donald Trump also announced a 100% tariff on imported semiconductors, with exemptions for chip companies with factories in the U.S. Elsewhere, weekly jobless claims rose to 226,000 last week, above the 221,000 estimates.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw over 2.3 million call contracts and more than 1.4 million put contracts traded on Wednesday. The single-session equity put/call ratio came in at 0.62, while the 21-day moving average remained at 0.59.
- Energy drink stock Celsius Holdings Inc (NASDAQ:CELH) is soaring in premarket trading, up 20.5% at last glance, after the company produced better-than-expected second-quarter results. Celsius' recent acquisition of Alani Nu gave sales a boost. Should these gains hold, CELH will open at a fresh 52-week high.
- Shares of Datadog Inc (NASDAQ:DDOG) are also sharply higher, up 11.6% before the bell, following the cloud concern's second-quarter beat-and-and-raise. Looking to break into positive territory for 2025, the stock is up 29.9% year-over-year.
- Crocs Inc (NASDAQ:CROX) stock is down 16.3% in electronic trading, despite the retailer reporting better-than-expected second-quarter results, with a disappointing current-quarter sales forecast instead the negative catalyst. Year-to-date, CROX is down 4% heading into today.
- This week will bring plenty more earnings, as well as a handful of economic data.
Asian Stocks Resume Climb
Asian markets continued to trend upward, even as President Trump intensified tariff discussions. Japan’s Nikkei rose 0.7%, bolstered by strength in its automobile and technology sectors. Tech giant SoftBank Group Corp was a standout, reporting a $2.87 billion profit for the fiscal first quarter. In Hong Kong, the Hang Seng gained 0.7%, while China’s Shanghai Composite edged up 0.2%, as both exports and imports rose year over year, beating analyst expectations. South Korea’s Kospi climbed 0.9% after former Free Trade Negotiations Director Yeo Han-Koo reported that Samsung Electronics and SK Hynix wouldn’t be subject to 100% U.S. tariffs on chips.
In Europe, stocks are mostly higher. France’s CAC 40 is 1.1% higher, while Germany’s DAX sports a 1.6% lead. However, London’s FTSE 100 is 0.8% lower after the Bank of England (BoE) voted to cut interest rates to 4%.
