US Equity Futures Rise Amidst Tariff Announcement

US Equity Futures:

* S&P 500 and Nasdaq 100 contracts experience a gain of at least 0.3%.

Aluminum and Steel Stocks:

* United States Steel Corp. surges 15%.
* Alcoa Corp. rallies 5%.

European Markets:

* Stoxx 600 index rises despite a decline in mining stocks.

Asian Shares:

* Drop the most in a week.

Other Key Points:

* BP Plc shares soar 6.7% following news of activist investor stake.
* US dollar strengthens against major currencies due to tariff-induced inflation concerns.
* Gold reaches a record high.
* Benchmark 10-year Treasury yields remain steady.
* Trump's announcement of 25% tariffs on steel and aluminum contributes to market volatility.
* Powell's semiannual congressional testimony and potential tariff reciprocity unveiling by Trump add to uncertainty.

Upcoming Key Events:

* China's retaliatory tariffs on US goods take effect Monday.
* Powell's monetary policy testimony Tuesday.
* US CPI data release Wednesday.

Market Movements:

Stocks:

* Stoxx Europe 600 rises 0.3%.
* S&P 500 futures gain 0.4%.
* Nasdaq 100 futures advance 0.6%.
* Dow Jones Industrial Average futures increase 0.3%.
* MSCI Asia Pacific Index declines 0.4%.

Currencies:

* Bloomberg Dollar Spot Index rises 0.1%.
* Euro remains stable at $1.0328.
* Japanese yen weakens 0.7%.

Cryptocurrencies:

* Bitcoin gains 2.8%.
* Ether rises 3.9%.

Commodities:

* Brent crude increases 0.7%.
* Spot gold surges 1.4%.