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Futures down: Dow 0.47%, S&P 500 0.60%, Nasdaq 0.86%

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Datadog ( DDOG ) up after lifting 2025 revenue, profit forecast

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Ford falls after suspending annual forecast

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International trade data for March due at 8:30 a.m. ET

(Updates with results from Doordash ( DASH ), Datadog ( DDOG ))

By Purvi Agarwal and Johann M Cherian

May 6 (Reuters) - U.S. stock index futures fell on

Tuesday after President Donald Trump's plans for potential

pharma tariffs renewed fears about the impact of the global

trade war, further dampening investor sentiment amid subdued

corporate earnings.

Trump said late on Monday that he would announce pharma

tariffs over the next two weeks, his latest action on levies

that have roiled global financial markets over the past months.

Drugmakers Eli Lilly and Pfizer ( PFE ) were

flat-to-slightly-lower in premarket trading after the news,

which offset optimism stemming from his order aimed at reducing

the approval time for pharmaceutical manufacturing plants.

The latest development follows Trump's announcement on

Sunday about imposing tariffs on foreign-made movies. Wall

Street closed lower on Monday, with the benchmark S&P 500

snapping a nine-session winning streak.

Ford Motor ( F ) was the latest to suspend its annual

outlook on Monday, joining a host of companies that shelved

their forecasts in April. The automaker also flagged a hit of

about $1.5 billion from the levies, sending its shares down 1.9%

in premarket trading.

Tariff-driven uncertainty has led consumers, businesses and

even the U.S. Federal Reserve to adopt a wait-and-watch mode as

they struggle to navigate the tariffs and gauge their impact.

The Trump administration suggested last week that potential

deals with trading partners were underway, but markets have seen

no concrete results on that front.

The latest tariffs on the film and pharma industries are

undermining the "likely misplaced" optimism that markets feel

about the U.S. striking trade deals in the near future, said

Marc Ostwald, chief economist, ADM Investor Services

International.

At 07:15 a.m. ET, Dow E-minis were down 188 points,

or 0.47%, S&P 500 E-minis were down 34 points, or 0.60%,

and Nasdaq 100 E-minis were down 174 points, or 0.86%.

The Fed starts its two-day meeting on Tuesday, with the

central bank widely expected to stay put on interest rates.

Comments from policymakers will be scrutinized for any clues

hinting at their stance on monetary policy easing this year.

"We see little market-moving information emerging... with a

steady-as-she-goes payroll print for April, stable inflation

numbers and prospects of engaging in trade deals, this should

keep the Fed in wait-and-see mode for now," BNP Paribas analysts

said.

Traders see about 79 basis points of policy easing by the

end of 2025, with the first cut coming only in July, according

to data compiled by LSEG.

Markets will also assess trade data later in the day, with

economists expecting the deficit to increase in March.

Data analytics firm Palantir's shares were down

6.8% after investors were unimpressed by the company's modest

revenue beat and in-line profit.

DoorDash ( DASH ) was down 5% after the meal delivery firm

said it would buy Deliveroo ( DROOF ) in a deal valuing the

British rival at about 2.9 billion pounds ($3.86 billion). The

U.S. firm's quarterly revenue missed estimates, disappointing

investors.

Datadog ( DDOG ) gained 3.8% after the software firm

lifted its annual forecast.

($1 = 0.7505 pounds)