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US STOCKS-Wall St futures muted as auto stocks slide after Trump's tariffs
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US STOCKS-Wall St futures muted as auto stocks slide after Trump's tariffs
Mar 27, 2025 3:21 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

*

Futures: Dow up 0.12%, S&P 500 up 0.01%, Nasdaq down 0.1%

Futures tracking Wall Street's main indexes were subdued on

Thursday, with auto stocks set to extend losses after President

Donald Trump's latest tariff salvo.

In a late-night announcement on Wednesday, Trump unveiled

his plan to implement 25% tariffs on imported cars and light

trucks effective next week, escalating global trade tensions.

The benchmark S&P 500 index and the tech-focused

Nasdaq broke their longest winning streak in over a

month in the previous session, as investors adopted a

risk-averse stance ahead of the auto tariff announcement.

General Motors ( GM ) slid another 6.5% in premarket

trading on Thursday, while Ford fell 2.9%. Tesla

was little changed.

"Investors will be frustrated by this announcement with few

details... as this 25% number is hard to digest," Wedbush

analyst Daniel Ives said.

Uncertainty around Trump's trade policies has roiled Wall

Street for weeks on concerns it could upend supply chains and

hurt global growth. Market participants are now growing cautious

ahead of the April 2 deadline when reciprocal tariffs are set to

take effect.

At 5:25 a.m. ET, U.S. S&P 500 E-minis

were up 0.75 points, or 0.01%, Nasdaq 100 E-minis

were down 16.5 points, or 0.1%, Dow E-minis

were up 52 points, or 0.12%.

At 8:30 a.m. ET, the market will get a reading of

fourth-quarter's final GDP figures, with expectations set for a

confirmation of a 2.3% uptick. Simultaneously, the initial

jobless claims for the week of March 22 will be unveiled.

However, the centerpiece of the week's economic indicators

will be the personal consumption expenditures price index - the

Federal Reserve's preferred measure of inflation - scheduled for

release on Friday.

(Reporting by Pranav Kashyap in Bangalore; Editing by Saumyadeb

Chakrabarty)

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