United States stock futures were trading lower on Sunday evening (Monday AEDT) as investors prepared for a crucial week of economic data while monitoring reports that President Donald Trump may introduce a new round of tariffs.
By 10:25 am AEDT (11:25 pm GMT) Dow Jones Industrial Average futures 0.1%, S&P 500 futures fell 0.2%, and Nasdaq 100 futures slipped 0.3%.
Speaking to reporters on Sunday, Trump indicated plans to impose a sweeping 25% tariff on all steel and aluminum imports. While he did not specify a timeline, he also warned of retaliatory tariffs against countries that tax U.S. imports.
The potential escalation in trade tensions comes just as previously announced tariffs on Chinese goods are set to take effect at midnight. The move has added to investor uncertainty, particularly as markets are already grappling with inflation concerns.
Markets will also be closely watching a series of high-profile economic reports this week, including January consumer price index (CPI), initial weekly jobless claims and the producer price index (PPI).
Additionally, Federal Reserve Chair Jerome Powell is set to testify before Congress this week, offering insights into the central bank’s outlook on inflation and interest rates.
Alongside macroeconomic developments, investors will be monitoring major corporate earnings. McDonald’s is set to release its quarterly results on Monday, followed by Coca-Cola on Tuesday.
