US Stock Futures Fall as Investors Await Trump's Tariff Policy Shifts
US stock futures declined on Tuesday as investors anticipated further tariff adjustments from President Donald Trump. Focus shifted to inflation, with Federal Chair Jerome Powell's testimony expected soon.
Key Highlights:
* Dow Jones Industrial Average futures (YM=F) dropped 0.2%, S&P 500 futures (ES=F) fell 0.3%.
* Nasdaq 100 (NQ=F) futures retreated roughly 0.5% after a positive day on Wall Street.
* Investors cautiously awaited Trump's announcement of universal like-for-like tariffs.
* Concerns grew over the potential impact of trade wars on corporate earnings and inflation.
* Gold (GC=F) reached a new record as investors sought safety, despite a slight retreat on Tuesday.
Company Earnings:
* Coca-Cola (KO) shares rose 3% after exceeding profit and revenue estimates for the fourth quarter.
* Shopify's (SHOP) stock tumbled 7% following a disappointing first-quarter profit forecast.
Other News:
* Elon Musk's bid to acquire OpenAI raised concerns about AI spending.
* Meta began layoffs as part of its shift towards finding AI talent.
* Hang Seng (^HSI) closed 1% lower in Asia amid concerns over Trump's tariffs.
* Chinese carmakers Xpeng and Geely Auto declined due to a price war initiated by BYD.
* Gold (GC=F) maintained its all-time high as investors sought refuge from market uncertainty.