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US STOCKS-Wall St set for lower open after Trump's new tariff salvo; spotlight on inflation data
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US STOCKS-Wall St set for lower open after Trump's new tariff salvo; spotlight on inflation data
Mar 13, 2025 6:32 AM

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

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

*

Futures off: Dow 0.25%, S&P 500 0.32%, Nasdaq 0.52%

*

Dollar General ( DG ) forecasts downbeat FY comparable sales

growth

*

Intel ( INTC ) gains after naming chip industry veteran Lip-Bu Tan

CEO

*

Adobe falls after dull quarterly revenue forecast

*

US producer prices unchanged in February

(Updates to before markets open)

By Johann M Cherian and Pranav Kashyap

March 13 (Reuters) -

Wall Street's main indexes were on track to open lower on

Thursday after President Donald Trump upped his tariff rhetoric

against the European Union, while investors found some reprieve

from signs of cooling inflation.

In his latest trade threat, Trump said he would impose

duties amounting to 200% on European beverage imports if the EU

does not remove surcharges on U.S. whiskey. He had earlier said

he would penalize the bloc if it enacted retaliatory tariffs on

American goods next month.

U.S. beverage makers such as Brown-Forman ( BF/A ) swung

between gains and losses and the stock dropped 0.1% in premarket

trading. Molson Coors ( TAP/A ) rose 1.7%, while Constellation

Brands ( STZ ) was flat.

"The guidance out of the White House is so erratic that

investors cannot absorb every news flash into their investment

strategies," said Peter Andersen, founder of Andersen Capital

Management.

Markets were hit hard earlier this week by Trump's chaotic

trade restrictions, sparking fears that a multi-front trade war

could ramp up domestic inflation and potentially stall economic

growth.

The fluctuating policies have rattled investors.

Brokerages have downgraded their outlooks for U.S. equities and

multiple companies have issued downbeat forecasts.

Dollar General ( DG ) forecast annual comparable sales

growth

largely below estimates

. Its shares were last up 4.3% in choppy premarket trading.

American Eagle Outfitters ( AEO ) forecast annual

revenue below expectations, sending the apparel maker's shares

down 6.3%.

Offering some respite to investors worried about the

economy's resilience, data showed producer prices were

unexpectedly unchanged

in February, while a separate weekly report pointed to

fewer-than-expected

jobless claims

.

However, concerns that the trend might not last into the

coming months prevailed, with traders expecting the Federal

Reserve to lower borrowing costs by nearly 75 basis points in

the second half of the year, according to data compiled by LSEG.

At 08:49 a.m. ET, Dow E-minis were down 104

points, or 0.25%, S&P 500 E-minis were down 17.75

points, or 0.32%, and Nasdaq 100 E-minis were down 102

points, or 0.52%.

The benchmark S&P 500 index nearly confirmed a 10% drop

from its February high earlier in the week and is teetering on

the brink of its longest weekly losing streak in seven months.

Markets were also on edge with a deadline to pass a

funding bill

in the U.S. Senate fast approaching. If it goes through,

the bill will keep the U.S. government operational through

September 30.

The Republican-led House passed the bill earlier in the

week, but Senate Democrats are pushing for a short-term

extension, to allow for more comprehensive budget negotiations.

Among other stocks, Intel ( INTC ) jumped 12% after the

beleaguered chipmaker appointed industry veteran Lip-Bu Tan its

chief executive officer.

Adobe dropped 6.8% after the Photoshop-maker

forecast quarterly revenue in line with estimates.

SentinelOne ( S ) lost 12.9% after the cybersecurity company

forecast its first-quarter and annual revenue below Street

estimates.

Shares of truck- and parts-makers such as Paccar ( PCAR )

and Cummins fell 6% and 3.5%, respectively, after the

Environmental Protection Agency launched efforts to undo the

previous administration's vehicle-emissions rules.

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