financetom
Market
financetom
/
Market
/
Trump's tariff barrage knocks Wall St futures lower
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Trump's tariff barrage knocks Wall St futures lower
Jul 11, 2025 3:16 AM

(Reuters) -U.S. stock index futures fell on Friday as President Donald Trump launched fresh salvoes in his tariff offensive, rattling investors ahead of earnings season next week.

Trump said on Thursday the U.S. would impose a 35% levy on imports from Canada next month. The U.S. president also floated a blanket 15% or 20% tariff rate on other countries, a step up from the current 10% baseline rate.

He said the European Union would soon receive a formal letter later in the day, as the bloc scrambles to strike a deal with Washington.

At 5:00 a.m. ET, Dow E-minis were down 238 points, or 0.53%, U.S. S&P 500 E-minis were down 33.25 points, or 0.53%, and Nasdaq 100 E-minis were down 109.5 points, or 0.48%.

Markets have remained largely subdued this week, with the only highlight being Nvidia becoming the first company to breach the $4 trillion valuation milestone.

The S&P 500 and tech-heavy Nasdaq are on track to end the week little changed, while the Dow looks set to snap its three-week winning streak - the longest since January.

Analysts are noting a growing sense of resilience among investors, who seem to be getting used to Trump's tariff threats. Market moves in response to new tariff announcements are far less choppier than the turbulence of early April's "Liberation Day" announcements.

While investors are firmly glued to latest developments on tariffs, the upcoming earnings season will offer clues on how trade uncertainties are affecting corporate results.

Wall Street's big banks are scheduled to report quarterly results next week, with J.P Morgan kicking off the earnings season on Tuesday.

The coming week is also packed with economic data releases, including consumer and producer price inflation and retail sales.

Cryptocurrency stocks ticked up as bitcoin rose to a record high. Coinbase Global rose 2.4%, while Bitfarms gained 5.1%. Strategy and Riot Platforms advanced over 3.3% each.

(Reporting by Pranav Kashyap in Bengaluru)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
JGB yields mixed as investors eye BOJ policy meeting, US GDP
JGB yields mixed as investors eye BOJ policy meeting, US GDP
Apr 24, 2024
TOKYO, April 25 (Reuters) - Japanese government bond (JGB) yields struggled for a clear direction on Thursday, as investors awaited more clues on the interest rate paths of both the Federal Reserve and the Bank of Japan (BOJ) ahead of key U.S. economic data and the BOJ's policy decision. The 10-year JGB yield rose 0.5 basis point (bp) to 0.890%,...
Foreign investors exit Japan stocks amid chip sector slump, high US rates
Foreign investors exit Japan stocks amid chip sector slump, high US rates
Apr 25, 2024
April 25 (Reuters) - Foreign investors were net sellers of Japanese stocks last week, driven by a global decline in chip-related stocks, profit-taking ahead of earnings reports, and expectations that U.S. interest rates would stay higher for longer amid sticky inflation. Market sentiment was also dampened as a threat of open warfare erupting between arch Middle East foes Iran and...
US Crude Oil Stocks Fall By 6.4 Million Barrels From Previous Week, EIA Reports
US Crude Oil Stocks Fall By 6.4 Million Barrels From Previous Week, EIA Reports
Apr 25, 2024
05:10 AM EDT, 04/25/2024 (MT Newswires) -- US crude oil inventories fell by 6.4 million barrels to 453.6 million barrels in the week ended April 19, the U.S. Energy Information Administration said in its weekly petroleum report released on Wednesday. Crude oil production held steady week over week at 13.1 million barrels per day (b/d), the EIA said. Crude oil...
French and Benelux stocks-Factors to watch
French and Benelux stocks-Factors to watch
Apr 24, 2024
April 25 (Reuters) - Below are company-related news and stories from France and Benelux which could have an impact on the region's markets or individual stocks. ATOS Struggling French IT consulting firm on Thursday said a review of its 2024-2027 business plan would lead to an increased need for cash and potentially additional debt reduction , forcing it to update...
Copyright 2023-2026 - www.financetom.com All Rights Reserved