U.S. stock futures are trading higher early Monday despite ongoing investor caution due to uncertainty surrounding President Donald Trump’s latest round of tariffs and the overall economic outlook. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.73%, 0.62%, and 0.63%, respectively, at 5:00 a.m. EST on August 4.
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In Friday’s trading session, major indexes dropped sharply following a disappointing July jobs report and the announcement of new tariffs on U.S. trading partners. The S&P 500 closed down 1.60%, the Dow Jones fell 1.23%, and the Nasdaq Composite dropped 2.24%.
After a turbulent trading week, all three indexes ended deeply in negative territory, halting a multi-week rally. The S&P 500 recorded its worst performance since the end of May, declining 2.4%. The Dow Jones experienced its steepest performance since April, falling 2.9%, and the Nasdaq Composite ended the week down 2.2%.
Historically, August has been one of the weakest months for the major U.S. indexes. Investors are digesting the weaker-than-expected July jobs report, which showed a steady unemployment rate of 4.2%. These data have also diminished the likelihood of an interest rate hike at the Federal Reserve’s September FOMC meeting.
Looking ahead, investors are awaiting Factory Orders report for July, which gives insights into the manufacturing sector’s health and future production activity. Experts predict a 5.2% drop compared to June, reflecting ongoing sector challenges. Additionally, data on Total Vehicle Sales will be released today, with forecasts suggesting a slight increase to 16 million vehicles sold in July.
Turning to earnings season, defense contractor Palantir Technologies (PLTR) and pharmaceutical marketplace Hims & Hers (HIMS) are scheduled to release their earnings today.
Meanwhile, the U.S. 10-year Treasury yield were up, floating near 4.25%. WTI crude oil futures were trending lower, hovering near $67.11 per barrel as of the last check. Additionally, the Gold Spot U.S. Dollar Price increased to nearly $3,412 per ounce on Monday.
Elsewhere, European stocks opened higher today, rebounding from last week’s sharp selloff. Notably, UK lenders gained ground following relief from a recent Supreme Court ruling regarding car finance commissions. The Financial Conduct Authority (FCA) announced plans to consult on a compensation scheme for mis-sold car loans, estimating the total cost between £9 billion and £18 billion, with most affected individuals expected to receive less than £950 each, starting in 2026.
Asia-Pacific Markets Traded Higher Today
Asia-Pacific markets ended mostly in the green today as investors digested Trump’s new tariffs and the weak U.S. jobs report. Moreover, OPEC+ agreed to another major production hike in September, putting downward pressure on oil prices.
Hong Kong’s Hang Seng index rose 0.92%. In China, the Shanghai Composite index gained 0.66%, while the Shenzhen Component increased 0.71%. In contrast, Japan’s Nikkei fell 1.25%, and the Topix declined 1.10%.