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Futures down: Dow 0.27%, S&P 500 0.27%, Nasdaq 0.26%

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Crypto stocks jump as bitcoin hits $120,000 mark

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Boeing ( BA ) up after preliminary Air India crash report

(Updates with prices, analyst comment before the bell)

By Pranav Kashyap and Nikhil Sharma

July 14 (Reuters) -

Wall Street looked set for a lower open on Monday as

President Donald Trump's latest

tariff threats

against the EU and Mexico dampened investor sentiment, in a

week loaded with economic data and the start of second-quarter

earnings.

Trump ramped up trade tensions over the weekend, vowing

to slap a 30% tariff on most imports from the European Union and

Mexico starting August 1 - a move that leaves the clock ticking

for last-minute trade deals.

The EU extended its pause on retaliatory measures until

early August, holding out hope for a negotiated truce.

Trump's latest salvo follows last week's

tariff offensive

, which targeted the United States' close allies like

Canada, Japan, and South Korea, and a 50% duty on copper.

At 8:21 a.m. ET, Dow E-minis were down 120

points, or 0.27%, S&P 500 E-minis were down 16.75

points, or 0.27% and Nasdaq 100 E-minis were down 59

points, or 0.26%.

Yet, investors barely flinched, having grown accustomed

to Trump's tariff threats and his track record of last-minute

reversals.

On Friday, the S&P 500 receded from an all-time

high it hit the day before, and closed lower. It capped last

week with modest losses.

"While tariff-driven market volatility has calmed down

in recent months, we are not out of the woods just yet, as the

next few weeks will be pivotal to see how countries respond to

the administration's new August 1 tariff deadline," said Glen

Smith, chief investment officer, GDS Wealth Management.

Now, Wall Street's resilience faces a new test this week

as the second-quarter earnings season kicks off, with banking

giants JPMorgan Chase ( JPM ), Wells Fargo ( WFC ), and

Citigroup ( C/PN ) reporting on Tuesday.

"The big question for markets is can earnings overshadow

the tariff issues," Smith added.

The market will also be poring over June's consumer

price data, hunting for any early signs of tariff-fueled

inflation. Meanwhile, producer and import price reports are due

on Wednesday and retail sales figures are due on Thursday.

RBC Capital Markets

raised

its year-end S&P 500 target to 6,250 - its second upgrade

this year - pointing to upbeat investor sentiment and optimism

about the economic outlook through 2026.

Also on the docket are at least seven Federal Reserve

officials due to speak through the week.

Amid the economic data deluge, traders have almost entirely

ruled out a July rate cut from the Fed, though the odds for a

September move still hover around 60%.

Investors are also keeping a close watch on tensions between

the White House and the U.S. central bank, after economic

adviser Kevin Hassett said over the weekend that Trump might

have cause to fire Fed Chair Jerome Powell, citing cost overruns

from the central bank's headquarters renovation.

Among stocks, Boeing ( BA ) rose 1.4% in premarket trading

after a preliminary report from the Air India crash probe

suggested no immediate action against the planemaker.

Kenvue ( KVUE ) gained 5.3% after the Tylenol maker's CEO,

Thibaut Mongon, stepped down amid push by activist investors to

boost performance.

Crypto stocks ticked up after bitcoin topped $120,000

for the first time. Coinbase global rose 1.6%, while

Bitfarms gained 4.7%. Strategy advanced 2.5%,

while Riot platforms was up 2.7%.