08:56 AM EDT, 07/11/2025 (MT Newswires) -- US equity futures were down ahead of Friday's opening bell after President Donald Trump slapped 35% tariffs on Canadian goods.

Dow Jones Industrial Average futures were down 0.7%, S&P 500 futures were 0.6% lower and Nasdaq futures were down 0.5%.

The higher rates for imports from Canada would go into effect Aug. 1, according to a letter Trump posted on social media.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1% at $69.36 per barrel and US West Texas Intermediate crude 1.1% higher at $67.26 per barrel.

The Federal Budget Balance report, scheduled for release at 2 pm ET, is expected to show a smaller budget deficit of $41.5 billion for June versus a $316 billion deficit in the preceding month, according to estimates compiled by Bloomberg.

In other world markets, Japan's Nikkei closed 0.2% lower, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 0.01% higher. Meanwhile, the UK's FTSE 100 was down 0.6%, and Germany's DAX index was down 1% in Europe's early afternoon session.

In equities, Signing Day Sports ( SGN ) shares soared more than 173% pre-bell after the company said it submitted a draft registration statement with the US Securities and Exchange Commission for a business combination with BlockchAIn Digital Infrastructure.

On the losing side, Capricor Therapeutics ( CAPR ) shares were down more than 37% after the company said that the US Food and Drug Administration has required additional clinical data on deramiocel, a cell therapy candidate for cardiomyopathy in Duchenne muscular dystrophy patients.