Stock Futures Slip After President Trump Fires Fed Member

Stock futures are modestly lower this morning, looking to extend yesterday's broad-market slide. The central bank's independence is in focus, after President Donald Trump removed Federal Reserve Board Governor Lisa Cook from her position, though Cook is challenging her termination. Long-bond yields rose after Trump's move,  with the 30-year Treasury last seen at 4.9%. 

Elsewhere, durable goods orders fell 2.8% in July, weighed down by weak commercial aircraft sales. Excluding transportation, however, durable goods orders rose 1.1%. 

Continue reading for more on today's market, including:

• S&P 500 trendline for bulls to watch, per Schaeffer's Senior V.P. of Research Todd Salamone. 
• Cybersecurity stock to watch ahead of earnings. 
• Plus, OKLO lands a bull note; IBKR joins the S&P 500, and SATS skyrockets. 

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw over 1.8 million call contracts and more than 1 million put contracts traded on Monday. The single-session equity put/call ratio came in at 0.55, while the 21-day moving average stayed at 0.59.
2. Nuclear reactor stock Oklo Inc (NYSE:OKLO) is up 1.8% premarket, after BofA Global Research initiated coverage with a "buy" rating and $92 price target. The analyst in coverage is bullish on nuclear energy regaining momentum to meet the demand of AI. Year to date, OKLO is up 235.3%. 
3. Interactive Brokers Group Inc (NASDAQ:IBKR) is 3.3% higher before the bell, after it was announced that the stock is replacing Walgreens Boots Alliance (WBA), which is being taken private, on the S&P 500. Since the start of the year, IBKR is up 42%. 
4. Shares of EchoStar Corp (NASDAQ:SATS) are soaring in electronic trading, up 71.4% at last glance, after news that AT&T (T) is acquiring some of its spectrum licenses in a $73 billion deal. Should these gains hold, SATS will open at record highs. 
5. GDP update and more due out this week. 

Asian Markets Slip Amid Trade Discussions

After a strong start to the week, Asian markets sunk as U.S. President Donald Trump’s tariff policies continued to unnerve investors. Japan’s Nikkei dropped 1%, with details of an updated trade deal with details of a pending trade announcement with the U.S. expected later this week. China’s Shanghai Composite fell 0.4%, while Hong Kong’s Hang Seng slid 1.2%, following Trump’s warning of a potential 200% tariff if China refuses to export rare-earth magnets to the U.S. South Korea’s Kospi also lost 1%, as tariff concerns lingered despite a meeting between Trump and President Lee Jae Myung.

European markets are under pressure as well, rattled by the potential ousting of France’s prime minister over his controversial debt-reduction plans. France’s CAC 40 was last seen plummeting 1.6%, while London’s FTSE 100 and Germany’s Dax are each down 0.4%, with the latter rattled by turmoil in its auto sector.