US inventory futures inched decrease as buyers digested President Donald Trump’s announcement of 25% tariffs on world metal and aluminum imports.
Futures hooked up to the S&P 500 (ES=F) slipped 0.2%, whereas Dow futures (YM=F) fell 0.1%, and Nasdaq futures (NQ=F) declined 0.2%.
Trump imposed 25% tariffs on all metal and aluminum imports on Monday evening. The tariffs are as a result of take impact on March 4th and apply to all nations, together with Canada and Mexico, the 2 prime suppliers of the metals within the US. The US neighbors are additionally scrambling to strike a deal to keep away from being topic to a different set of tariffs on March 1.
In tech, AI spending fears proceed to drag down investor confidence within the Magnificent Seven. Amazon (AMZN), Google (GOOG), Apple (AAPL), Nvidia (NVDA), Microsoft (MSFT), and Tesla (TSLA) have all seen losses from weak earnings in current weeks. Meta (META) stays the one member of the group to publish double digit good points thus far this yr.
Meta additionally attracted Wall Road’s consideration on Monday because it started to put off employees as a part of CEO Mark Zuckerberg’s pledge to chop hundreds of jobs from the corporate in a push to seek out AI expertise. In whole round 3,600 individuals, or 5% of the corporate, are anticipated to be laid off within the course of.
In commodities, espresso futures rose 6% to an all-time excessive of over $4.30 a pound. References to panic-buying have hit the bean value, the place low yield and excessive demand have led to a 35% value improve this yr. Brazil and Vietnam, the 2 largest worldwide suppliers, are usually not anticipated to have the ability to elevate output till 2026.
On Tuesday, Coca-Cola earnings are anticipated to indicate 1 / 4 of development within the firm’s battle with PepsiCo. Wall Road anticipates This autumn income of $10.67 billion and earnings per share of $0.52.
Tremendous Micro Laptop (SMCI), Lyft (LYFT), and DoorDash (DASH) are additionally set to report earnings on Tuesday.
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