U.S. stock futures were lower early Monday as investors braced for second-quarter earnings and growing trade tensions. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.52%, 0.51%, and 0.51%, respectively, at 4:21 a.m. EST, on July 14.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
All major stock indexes ended lower in Friday’s regular session, giving up midweek gains as renewed tariff concerns weighed on investor sentiment. For the week, the S&P 500 was down 0.31%, while the Nasdaq 100 declined by 0.38% and the Dow Jones dropped 1.02%.
In the latest tariff update, President Donald Trump announced on Saturday that the U.S. will impose 30% tariffs on goods from the European Union and Mexico starting August 1. In response, EU and Mexican leaders said they plan to continue talks with the U.S. this month in hopes of reducing the tariff rate.
Looking forward, the market is bracing for a busy week of earnings reports. Major financial firms, such as Goldman Sachs (GS), Bank of America (BAC), and Citigroup (C), are scheduled to release their results this week.
Also, key companies like Netflix (NFLX), PepsiCo (PEP), TSMC (TSM), and United Airlines (UAL) will be reporting quarterly numbers this week.
Looking ahead, investors are focused on key inflation data this week. The June Consumer Price Index (CPI) report is due Tuesday, followed by the Producer Price Index (PPI) on Wednesday. These reports will provide new clues on inflation and may guide the Federal Reserve’s next steps on interest rates.
Meanwhile, the U.S. 10-year Treasury yield was down, floating near 4.42%. However, WTI crude oil futures were trending higher, hovering near $69.21 per barrel as of the last check. At the same time, the Gold Spot U.S. Dollar Price increased to nearly $3,370 per ounce on Monday.
Elsewhere, European stocks opened lower after Trump imposed a 30% tariff on the European Union.
Asia-Pacific Markets Traded Mixed Today
Asia-Pacific indices were mixed on Monday as Bitcoin hit a record high and investors weighed the impact of U.S. President Donald Trump’s newly imposed 30% tariffs on the European Union and Mexico over the weekend.
Hong Kong’s Hang Seng Index was up 0.46%, while China’s Shanghai Composite edged up 0.27%. However, the Shenzhen Component slipped 0.11%. In Japan, the Nikkei fell 0.28%, and the Topix dipped 0.02%.
Interested in more economic insights? Tune in to our LIVE webinar.