Stock Futures Little Changed as Trump Tariffs Ignite Retaliation
US stock futures traded near flatline on Tuesday after President Trump's tariffs on China sparked instant retaliation from the world's second-largest economy.
Key Points:
* S&P 500 (ES=F), Dow Jones Industrial Average (YM=F), and Nasdaq 100 (NQ=F) futures near unchanged.
* Trump's 10% tariff on Chinese goods remains in effect.
* Tech stocks hit: Apple (AAPL) -3.39%, Nvidia (NVDA) -3.0% in premarket.
* Tesla (TSLA) leads auto stocks lower with a 5.1% drop in premarket.
* Palantir (PLTR) surges 23.9% on upbeat earnings forecasts.
* US dollar indexes continue to rise.
China Retaliates with Tariffs, Investigation
China launched an anti-monopoly investigation into Google (GOOG) and placed US companies PVH Corp. and Illumina on its "unreliable entity list" in response to US tariffs.
Gold Rises on Safe-Haven Demand
Spot gold reached $2,850 an ounce, approaching a record high, as Trump's tariff threats and delays boost demand for a stable asset.
Market Outlook Uncertain
Markets remain unsettled amid concerns over a potential trade war and its impact on the US economy and monetary policy. The Federal Reserve has adopted a "wait-and-see" approach to the new administration's policies.