07:34 AM EDT, 07/10/2025 (MT Newswires) -- The benchmark US stock measures were trending lower before Thursday's opening bell following President Donald Trump's latest tariff announcements, while investors digested minutes of the Federal Reserve's last monetary policy meeting.

The S&P 500 and the Nasdaq declined 0.1% each in premarket activity, while the Dow Jones Industrial Average was off 0.2%. The indexes finished the previous trading session in the green, with the Nasdaq reaching a new record high at close.

In a letter sent to Brazil on Wednesday, Trump said he will impose 50% tariffs on the country's products, effective Aug. 1. Trump in his letter criticized the ongoing prosecution of the country's former president, Jair Bolsonaro.

Earlier in the week, Trump sent letters to 14 nations, including Japan, South Africa, Malaysia and Thailand, informing them of their new reciprocal tariff rates, effective Aug. 1.

Trump also confirmed in a separate social media post Wednesday that recently announced duties of 50% on copper imports are set to come into effect at the beginning of next month, following a "robust national security assessment."

US Treasury yields were mixed in premarket action, with the two-year rate down 1.1 basis points to 3.85% and the 10-year rate nudging 0.8 basis points higher to 4.35%.

Fed officials last month offered mixed views on the monetary policy path ahead, with opinions ranging from "some reduction" in interest rates this year to no cuts at all, minutes from the central bank's June 17-18 meeting showed Wednesday.

"Most participants assessed that some reduction in the target range for the federal funds rate this year would likely be appropriate" amid expectations that price pressures from tariffs may be temporary or modest, the meeting minutes showed. This group of policymakers indicated that economic activity and labor market conditions could weaken.

However, some participants supported not cutting rates this year, citing, among other factors, recent inflation readings that exceeded the Fed's 2% goal.

Thursday's thin economic calendar has the weekly jobless claims bulletin at 8:30 am ET. Fed Governor Christopher Waller is scheduled to speak at 1:15 pm, while St. Louis Fed President Alberto Musalem and San Francisco President Mary Daly are also slated to give their remarks on Thursday.

Delta Air Lines ( DAL ) jumped 8.6% after reporting better-than-expected quarterly results and restoring its full-year outlook.

ConAgra Brands ( CAG ) and Simply Good Foods ( SMPL ) also report their latest financial results before the bell, among others. Levi Strauss (LEVI), PriceSmart ( PSMT ) and WD-40 ( WDFC ) post earnings after the markets close.

West Texas Intermediate crude oil decreased 0.5% to $68.03 a barrel before the open. Commercial crude stockpiles in the US unexpectedly increased last week, buoyed by propane and propylene inventory growth, government data showed Wednesday.

Gold increased 0.4% to $3,334 per troy ounce, while bitcoin was unchanged at $111,082.