5 things to know before the stock market opens Tuesday

1. Rebound ruined

The S&P 500 and Nasdaq Composite fell Monday, squashing investors' hopes of a market comeback after Friday's steep sell-off. The S&P 500 slid 0.5% — its third-straight losing session — while the tech-heavy Nasdaq Composite dropped 1.21%, dragged lower by losses from Palantir, Microsoft and Nvidia. The Dow Jones Industrial Average meanwhile gained 33.19 points, or 0.08%. Stock futures were little changed Tuesday morning ahead of more earnings results and the latest economic data. Follow live market updates.

2. Compounding losses

Hims & Hers Health beat fourth-quarter earnings and revenue expectations on Monday, but shares of the telehealth company sank more than 18% on its disappointing gross margin. It was yet another steep plunge for the stock, which on Friday dropped 26% after the the FDA announced that the shortage of semaglutide injection products had been resolved. As a result, Hims & Hers said Monday that it will likely not offer its weight loss products — which generated more than $225 million in revenue in 2024 — on its platform after the first quarter.

3. When, not (tar)iff

President Donald Trump indicated on Monday that tariffs on Canada and Mexico could go into effect next week when the monthlong pause on their implementation expires. "The tariffs are going forward on time, on schedule," the president said at a White House press conference. Trump signed orders on Feb. 1 imposing 25% tariffs on imports from the two countries but later delayed their implementation. The duties on Canadian goods would be paused for 30 days, he said on Feb. 3, while the tariffs on goods from Mexico would be paused for a month.

4. Dimon on DOGE

JPMorgan Chase CEO Jamie Dimon said Monday that the U.S. government is "inefficient," and that the Trump administration's effort to slash spending "needs to be done." Asked by CNBC's Leslie Picker about the Department of Government Efficiency, Dimon declined to say outright whether he approved of the Elon Musk-led cost-cutting campaign but made comments in support of the broader effort. "The government is inefficient, not very competent, and needs a lot of work," Dimon said. "It's not just waste and fraud, it's outcomes."

5. Up to code

Shares of Home Depot were lower Tuesday morning after the home improvement retailer narrowly beat Wall Street's fourth-quarter earnings and revenue expectations. The company said comparable sales for the quarter increased 0.8%, ending eight straight quarters of falling same-store sales. The positive results came even as elevated interest rates and housing prices dampened demand for large home improvement projects, but Home Depot said it anticipates consumers will stop putting off projects as they get used to higher rates. "Home improvement always persists," CFO Richard McPhail told CNBC, "and so the question, I think, will be around the mindset of whether long-term rates have gotten to a new normal."

— CNBC's Hakyung Kim, Jesse Pound, Sean Conlon, Ashley Capoot, Kevin Breuninger, Hugh Son and Melissa Repko contributed to this report.