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Futures down: Dow 0.59%, S&P 500 0.51%, Nasdaq 0.42%

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Crypto stocks surge as Bitcoin scales record peak

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Levi Strauss gains after hiking forecasts

(Updates with prices, graphic before the opening bell)

By Pranav Kashyap and Nikhil Sharma

July 11 (Reuters) - Wall Street braced for a lower open

on Friday as President Donald Trump cranked up his tariff

assault on Canada, deepening uncertainty around Washington's

trade agenda.

Trump on Thursday announced a 35% tariff on Canadian

imports, set to kick in next month, up from the 25% imposed in

March, and warned that the levy could climb higher if Canada

retaliates.

The president also floated the possibility of a sweeping 15%

or 20% tariff on other countries, up from the current 10%

baseline.

Meanwhile, he said that the European Union would receive a

formal letter later in the day. The bloc is still scrambling to

secure a deal with Washington.

At 08:15 a.m. ET, Dow E-minis were down 263 points,

or 0.59%, S&P 500 E-minis were down 32 points, or 0.51%

and Nasdaq 100 E-minis were down 96 points, or 0.42%.

Futures tracking the small-cap Russell 2000 index

dropped 0.6%.

Markets have remained largely subdued this week, with the

only highlight being Nvidia ( NVDA ) becoming the first company

to breach the $4 trillion valuation milestone.

Shares of the chip giant eased 0.5% in premarket trading.

The S&P 500 and the tech-heavy Nasdaq are on

track to end the week largely flat, while the Dow looks set to

snap its three-week winning streak - the longest since January.

This week, President Trump widened his tariff offensive,

targeting a number of countries, including allies Japan and

South Korea, and introducing a new 50% tariff on copper.

Analysts are noting a growing sense of resilience among

investors, who seem to be getting used to Trump's tariff

threats.

Market reaction to the new tariff announcements was far less

choppier than the turbulence following early April's "Liberation

Day" announcements, when all the major indexes posted their

steepest weekly losses in nearly six years.

"It feels that the market has been rather sanguine...(about)

the potential impact and hasn't really been pricing in the risks

that are now coming to the surface as we get more clarity over

what the trade tariffs will be," said Fiona Cincotta, senior

market analyst at City Index.

Investors are also gearing up for the upcoming earnings

season, hoping for a clearer read on how trade turmoil has

rippled through corporate America.

Wall Street's big banks are scheduled to report quarterly

results next week, with J.P. Morgan kicking off the

earnings season on Tuesday.

The coming week is also packed with economic data releases,

including those on consumer and producer price inflation and

retail sales.

Meanwhile, last week's robust jobs report has nearly dashed

all hopes for a July rate cut. Investors are now betting on a

September move -- odds for which stand at 62.2%, according to

CME FedWatch.

Cryptocurrency stocks ticked up as bitcoin rose to a

record high. Coinbase Global ( COIN ) rose 1.5%, Bitfarms

climbed 8.4%, while Strategy and Riot

Platforms ( RIOT ) advanced over 3% each.

Denim maker Levi Strauss & Co ( LEVI ) jumped 6.7% after the

company raised its annual revenue and profit forecasts and beat

quarterly estimates on Thursday.