STOCKS/ECONOMY
-Stock futures are sharply down again with the markets coming off their steepest down week in five years. But the Dow futures have cut their losses in half since their lows overnight.
-The yield on the 10-year Treasury bond is at 4.02 percent.
-President Trump is urging the Federal Reserve to cut interest rates to ease the pain of the tariff rollout.
-Gold is up and at the $3,049 per ounce level. Bitcoin is down to the $76,500 level.
-Asian markets sold off sharply today, led by a massive 13.2 percent loss for the Hang Seng. The Nikkei lost 7.9 percent, and the Shenzhen fell 9.7 percent.
OIL/ENERGY
-U.S. crude prices are down and at the $60 a barrel level.
-Gasoline prices are down slightly to $3.25 a gallon, national average.
TARIFF LATEST
-President Trump says he doesn't want stocks to go down, but that sometimes you have to "take medicine" to fix the economy.
-JPMorgan Chase CEO Jamie Dimon and hedge fund investor Bill Ackman are both warning the Trump administration about the tariff policies this morning. Ackman supported Trump in the 2024 election and Dimon has defended many of this policies in the past.
AUTO NATION
-Shares of the three big Detroit automakers are down again in the premarket. Chrysler/Jeep/Dodge parent Stellantis (STLA) shares are down the most with a 9 percent decline. GM (GM) shares are down 5 percent, and Ford (F) is down 3 percent. Tesla (TSLA) shares are down 7 percent after losing 10 percent on Friday.
BUILDER BOOM
-On the other hand, some of the only stocks avoiding the pain of this selloff Friday were home builders including Pulte (PHM) and Toll Brothers (TOLL). Pulte shares gained 4 percent on Friday and Toll Brothers rose more than 2 percent. But both stocks look to open lower today.
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