US Stock Futures Steady as Investors Weigh Tariff Court Verdict

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Mon, Sep 1, 2025, 9:32 AM 1 min read

(Bloomberg) — US index futures were little changed on Monday as investors weighed the impact of federal appeals court ruling that deemed most of President Donald Trump’s global tariffs as illegal.

The New York Stock Exchange and the Nasdaq were closed for Labor Day. Contracts for S&P 500 and Nasdaq 100 were little changed as of 9:31 a.m. in New York.

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US stocks retreated from records Friday as investors took profits after the Federal Reserve’s preferred measure of underlying inflation remained stubbornly high last month. The market is bracing for what is known as the weakest month for US shares, as institutional investors rebalance, retail traders slow their buying and volatility picks up.

S&P 500 Index, which has notched 20 record highs in 2025, extended its gains for a fourth consecutive month. The benchmark closed 1.9% higher for August.

Investors should not fear a bull-market drawdown, according to Evercore ISI strategists led by Julian Emanuel, who see 20% upside for the S&P 500 by the end of 2026.

Evercore strategists note that more “scares” are inevitable, and see potential near-term volatility as a buying opportunity.

While the earnings cycle is slowing, this week has two tech-sector heavyweights reporting: Salesforce Inc. on Wednesday and Broadcom Inc. on Thursday.

Wall Street will be bracing for a crucial stretch, with jobs numbers, inflation data and the Fed’s rate call all landing within the next three weeks. Swaps markets are pricing in roughly 90% odds that the Fed will cut them at this meeting.

–With assistance from Felice Maranz.