07:24 AM EDT, 04/01/2025 (MT Newswires) -- US benchmark equity indexes were down before the bell on Tuesday as investors await fresh labor market data and an announcement from President Donald Trump about potential tariffs to be put in place against the country's trading partners.

The S&P 500 and the Nasdaq were down 0.4% each in premarket activity, while the Dow Jones Industrial Average slipped 0.5%. The indexes finished the previous trading session mostly higher.

Trump will reveal "country-based" tariffs during an event in the Rose Garden on Wednesday, White House Press Secretary Karoline Leavitt told reporters on Monday, according to media reports.

The Job Openings and Labor Turnover Survey for February is scheduled for a 10 am ET release on Tuesday.

US Treasury yields moved down in premarket action, with the two-year rate falling 4.5 basis points to 3.87% and the 10-year rate down 8 basis points to 4.17%.

Before the opening bell, PVH (PVH) shares jumped 17% as the company offered a full-year earnings outlook above market expectations and beat fiscal fourth-quarter estimates. Tesla (TSLA) rebounded 2.4% after closing the previous session down 1.7%, while Lucid Group ( LCID ) shares ticked 1.2% higher. Nio's (NIO) shares listed on the New York Stock Exchange gained 3.7% after the Chinese EV maker reported a 40% year-over-year growth in first-quarter deliveries.

Also on Tuesday's economic calendar, the Purchasing Managers' Manufacturing Index's final reading for March is due at 9:45 am. The Institute for Supply Management's manufacturing index for last month and construction spending report for February are out at 10 am. Richmond Fed President Thomas Barkin is scheduled to speak at 9 am.

nCino Inc ( NCNO ) is slated to report earnings after the markets close.

West Texas Intermediate crude oil inched 0.7% higher to $71.95 a barrel as markets continued to assess Trump's recent threat of secondary tariffs on Russian oil exports.

Gold ticked 0.5% higher to $3,165 per troy ounce. Bitcoin was up 1.9% to $84,355.