09:01 AM EST, 02/04/2025 (MT Newswires) -- US equity futures were flat ahead of Tuesday's opening bell as traders assessed the potential impact of China's retaliatory tariffs on US goods.

Dow Jones Industrial Average futures slipped 0.2%, S&P 500 futures flatline, and Nasdaq futures were up 0.2%.

On Tuesday, China unveiled tariffs of up to 15% on imports of US coal and liquefied natural gas, as well as 10% duties on crude oil, farm equipment, and certain vehicles in response to fresh US tariffs on Chinese goods.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.7% at $74.71 per barrel and US West Texas Intermediate crude 2.5% lower at $71.30 per barrel.

US factory orders, scheduled for release at 10 am ET, are expected to have dropped by 0.7% in December following a 0.4% decline previously, according to estimates compiled by Bloomberg. Meanwhile, the Labor Department's Job Openings and Labor Turnover Survey is expected to show a decline in job openings to 8 million in December from 8.098 million in November.

In other world markets, Japan's Nikkei finished 0.7% higher, Hong Kong's Hang ended 2.8% higher, while the Chinese market was closed for holiday. UK's FTSE 100 slipped 0.1%, and Germany's DAX index gained 0.2% in Europe's early afternoon session.

In equities, shares of Spotify Technology ( SPOT ) were 8% higher pre-bell after the company reported it swung to Q4 earnings on higher revenue. Quantum BioPharma ( QNTM ) shares surged 74% after the company said its clinical trial of unbuzzd achieved "statistically significant" results in accelerating alcohol metabolism and lowering blood alcohol concentration.

On the losing side, Merck ( MRK ) shares fell 8.3% after the drugmaker issued 2025 adjusted earnings and sales guidance that trailed analysts' projections. Estee Lauder ( EL ) shares dropped 4.4% after reporting see lower fiscal Q2 adjusted profit and sales.