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Stock futures, Trump Media, Reddit options trade: 3 Things

Yahoo Finance

Stock futures (^DJI, ^IXIC, ^GSPC) pull back a touch more ahead of Tuesday's open ahead of the Personal Consumptions Expenditure (PCE) print.

Trump Media & Technology Group (DJT) — owned by Former President Donald Trump — will begin trading on the Nasdaq following its merger with Digital World Acquisition Corp (DWAC).

Reddit (RDDT) shares are flying high in Tuesday's pre-market trading as bulls flock to options trades on the social media platform.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Luke Carberry Mogan.

Video transcript

- So let's get right to it. The three things that you need to know, your roadmap for the trading day. Yahoo Finance's Jared Blikre, Alexandra Canal, and Madison Mills have more.

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JARED BLIKRE: Thank you Seana. Futures edging higher after slipping from recent records on Monday. Now Wall Street strategists remaining bullish on stocks as they continue to patiently wait for the Federal Reserve's first interest rate cut this year. In an exclusive interview with Yahoo Finance yesterday, Chicago Fed President, Austan Goolsbee, had this to say about the timing of the interest rate cuts.

- As the summary of economic projections is not forward guidance. Is not debated.

JARED BLIKRE: Investors are eagerly awaiting the government's release of core personal consumption expenditures at price indexes due and will hint of future cuts.

ALEXANDRA CANAL: former President Donald Trump's newly merged company which owns a social media app Truth Social, began trading on the NASDAQ today under the ticker symbol DJT which also happens to be Trump's initials. The startup went public via merger with digital World Acquisition corp.

A special purpose vehicle that's been trading since 2021. Trump's ownership stake could fetch more than $3 billion. Now that the company is public, shares are up more than 20% in premarket trading.

MADISON MILLS: And Reddit shares extending the rally in premarket trading after closing up 30% on Monday. Some analysts believe that bullish bets from options traders could be pushing that stock higher as we head into today's trade. And Reddit was among one of those top gainers on the New York Stock Exchange heading into this week.