Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

It's good to be with you. Hopefully you enjoyed your weekend. Today is Tuesday, January 20th.

I'm Julie Morgan. Stock futures are down early on this Tuesday morning following President Trump's warning of mounting tariffs on key European

partners blocking a U.S. bid for control of Greenland. We'll get to Dow, S&P, and NASDAQ futures in a few

minutes, but first let's take a look at a few of the biggest movers in pre-market action. Logitech,

NetApp, and CDW are on our biggest movers list today, down six,

four, and two percent respectively. Shares declined after Morgan Stanley downgraded all three,

warning of a perfect storm for IT hardware as corporate spending slows to its weakest pace

in 15 years outside of COVID-19.

A fourth quarter CIO survey pointed to softer demand, while resellers expect 30 to 60%

of customers to cut PC server and storage budgets amid component-driven price increases.

The firm said this marks only the first cut of a

hardware down cycle that could last three to five quarters. CDW was cut to equal weight with a

price target of 141, Logitech to underweight with the price target of $89, and NetApp also to

underweight with the price target of $89 as well.

The New York Stock Exchange, which is owned by Intercontinental Exchange, says it's working on a

new platform that would let people trade U.S. stocks and ETFs around the clock.

These assets would be tokenized, meaning they're represented digitally using

blockchain tech. The exchange still needs regulatory approval, but if it goes through, the platform

would allow trades to settle instantly, let investors place orders based on dollar amounts instead

of share counts, and use stable coins to fund trades.

NYSC has not said yet when this might actually launch.

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