United States futures traded lower on Monday night (Tuesday AEDT) as investors awaited further details on President Donald Trump’s tariff policy, set to be unveiled later this week.
By 9:30 am AEDT (10:30 pm GMT), Dow Jones Industrial Average futures were down 0.2%, S&P 500 futures fell 0.4% and Nasdaq 100 futures declined 0.5%.
In after-hours trading, PVH Corp. gained 14.6% after posting quarterly earnings that exceeded estimates and providing an upbeat outlook.
Progress Software added 4.1% after reporting strong first-quarter results and issuing optimistic guidance.
Meanwhile, Live Nation Entertainment fell 1.8% following reports that President Trump is addressing concerns over high ticket prices for live events.
During Monday’s regular session, the Dow Jones Industrial Average climbed 1%, while the S&P 500 rose 0.6%. The Nasdaq Composite, however, slipped 0.1%.
Market sentiment has been rattled so far this year amid mounting uncertainty around the new Trump administration’s economic tariffs.
Traders will likely receive further insight into the situation on Wednesday, April 2, when many of Trump’s duties are slated to go into effect.
Stocks ended the first quarter on a weak note, with the Dow down 1.3%, the S&P 500 losing 4.6%, and the Nasdaq tumbling more than 10%.
Analysts at ANZ cautioned in a note to clients: "Stock markets are sending a very clear message that tariffs are not good for corporate profits which potentially can have knock-on effects for all aspects of economic activity, not least of which is hiring."
On Tuesday, investors will focus on the Institute of Supply Management's manufacturing data, along with reports on February’s Job Openings and Labor Turnover survey (JOLTs) and construction spending.
