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Futures down: Dow 0.64%, S&P 500 0.85%, Nasdaq 1.04%

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Berkshire Hathaway falls after Buffett to step down as CEO

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ISM services sector data due at 10 a.m. ET

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Gold stocks shine tracking higher bullion prices

(Updates before markets open)

By Purvi Agarwal and Johann M Cherian

May 5 (Reuters) - Wall Street was on track to open lower

on Monday after President Donald Trump rekindled worries about

the ramifications of a global trade war by introducing new

tariffs, with focus also on the Federal Reserve's monetary

policy decision later this week.

On Sunday, Trump announced a 100% tariff on movies produced

outside the U.S. but offered little clarity on how the levies

would be implemented.

Movie and television production companies that film overseas

fell in premarket trading. Netflix ( NFLX ) was down 4.6% and

Amazon.com ( AMZN ) fell 1.6%, while Walt Disney ( DIS ) and

Warner Bros. Discovery ( WBD ) were off about 2.8% and 3.8%,

respectively.

Separately, class B shares of Warren Buffett's Berkshire

Hathaway fell 2.6% after the investor said he will step

down as CEO of the conglomerate.

At 08:43 a.m. ET, Dow E-minis were down 265 points,

or 0.64%, S&P 500 E-minis were down 48.25 points, or

0.85%, and Nasdaq 100 E-minis were down 209.25 points,

or 1.04%.

On Friday, the S&P 500 notched its ninth session of gains, a

streak last seen in 2004, on hopes of potential easing of

Sino-U.S. trade tensions.

This week, the spotlight will be on the U.S. Fed, which is

widely expected to keep interest rates on hold. Commentary from

central bank policymakers will be in focus to gauge their

approach to monetary policy easing this year amid tariff

impacts.

"What we're still dealing with is policy versus economics

... we haven't yet been able to see what the final impact from

the tariff situation will be," said Phil Blancato, CEO of

Ladenburg Thalmann Asset Management.

Data last week showed the world's biggest economy contracted

in the first quarter, for the first time since 2022, as traders

rushed to import goods before tariffs kicked in, raising worries

about slowing growth.

Later on Monday, traders will assess an ISM report, with

economists polled by Reuters expecting non-manufacturing

activity to have slowed marginally from the previous month, but

still remaining in expansion territory.

Traders are pricing in 25 basis points of easing only by

July, and see a total of 116 points of cuts by the end of the

year, according to data compiled by LSEG.

Investor attention will be on how companies are navigating

tariff-induced uncertainty.

Freshpet ( FRPT ) fell 4.7% after the pet food maker lowered

its annual sales forecast, while Onsemi rose 2.5% with

the chipmaker forecasting second-quarter revenue above

estimates.

Carmaker Ford and data analytics firm Palantir ( PLTR )

are scheduled to report results after the bell.

U.S.-listed shares of gold miners Gold Fields Ltd

and Anglogold Ashanti ( AU ) gained 8.9% and 6.7%, respectively,

tracking a 2.5% rise in prices of the yellow metal.

Energy stocks Chevron ( CVX ) and Exxon fell about

1% each as crude prices declined on anticipation of increased

supply by OPEC+ countries.