OP Wire 2/10 (OP – Lite)

By Steve

OptionsPlayers Market Update – Monday

U.S. stock futures ticked higher to start the week as investors reacted to fresh tariff comments from President Trump and awaited key economic data releases.

As of 03:23 ET (08:23 GMT):

Dow futures gained +80 points (+0.2%)
S&P 500 futures dipped -17 points (-0.3%)
Nasdaq 100 futures shed -108 points (-0.5%)

The major averages closed lower last Friday after Trump announced new reciprocal tariffs and weak employment and consumer sentiment data weighed on the markets. Over the weekend, Trump confirmed plans to impose a 25% tariff on all steel and aluminum imports, with reciprocal tariffs on other countries to follow later this week.

Key Market Events

1. Trump’s New Tariffs on Steel and Aluminum

Speaking on Air Force One, Trump announced:

A 25% tariff on all steel and aluminum imports, effective immediately on Monday.
More reciprocal tariffs on additional countries to be announced on Tuesday or Wednesday.
Tariffs on Canada and Mexico were postponed last week after receiving border security assurances.

Major steel exporters to the U.S. include Canada, Brazil, Mexico, South Korea, and Vietnam. In his first term, Trump imposed similar tariffs but later granted exemptions to allies. These new tariffs could escalate trade tensions, especially after China retaliated against his recent 10% tariffs with countermeasures.

2. U.S. Treasury Debt Under Investigation

Trump also stated that his administration is investigating U.S. Treasury debt payments for potential fraud, suggesting that America’s $36.2 trillion debt may be inflated by fraudulent transactions. The White House has shifted its focus from general spending audits to examining debt payments, though details remain unclear.

With Republicans potentially needing to approve more borrowing this year, Trump’s past comments about defaulting on U.S. debt could create further market uncertainty.

3. Chinese Inflation Data

China’s January consumer inflation rose:

0.7% month-over-month (below the 0.8% forecast)
0.5% year-over-year (above the 0.4% forecast)

However, factory-gate prices continued declining, signaling industrial sector deflation. This could increase pressure on China’s economic growth, especially amid ongoing tariff disputes.

4. Gold Hits Record High

Gold prices surged to fresh record highs as investors hedged against trade uncertainty. However, gains were somewhat limited by a strong U.S. dollar and expectations of elevated interest rates.

Federal Reserve officials have warned that Trump’s tariffs could drive inflation, potentially limiting the Fed’s ability to cut rates. Meanwhile, oil prices rebounded, erasing some losses from last week’s three-week decline, driven by higher U.S. crude stockpiles and renewed trade concerns.

Nasdaq 100 (NQ) Technical Outlook

Last week, we highlighted 21,550 as the key level to watch, and price action confirmed its importance:

Monday’s session established the weekly low, with buyers stepping in near 21,100.
A rally tested 21,550, but sellers pushed price back to this level by the weekly close.
Range-bound trading continues, providing strong intraday opportunities for active traders.

This week’s key focus remains on 21,550 – the current structure’s Volume Point of Control (VPOC).

If buyers hold 21,550, potential upside targets: 21,960, 22,100, and 22,450 (ATH).
If sellers break below 21,550, downside targets: 21,430, 21,100, and 20,800 (daily support zone).

Quick Reference Levels

Upside: 21,960 / 22,100 / 22,450
Downside: 21,430 / 21,100 / 20,800

Notable Economic Data & Earnings

📊 Key Economic Releases:

Wednesday: CPI & Powell Speech
Thursday: PPI
Friday: Retail Sales

💰 Earnings to Watch (Thursday):

ABNB (Airbnb)
COIN (Coinbase)
ROKU (Roku)

📢 See you all in chat! Stay sharp and trade smart.

Stack Your Gains! – OptionsPlayers Team

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