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US stock futures wobbled on Tuesday as investors considered the latest developments on President Trump’s tariffs, including a potential auto sector reprieve and a concrete step toward new semiconductor and pharmaceutical duties.
Futures attached to the Dow Jones Industrial Average (YM=F) moved down 0.3%, while those on the benchmark S&P 500 (ES=F) also lost 0.3%. Futures attached to the tech-heavy Nasdaq Composite (NQ=F) were down around 0.2%.
CBOT – Delayed Quote USD
As of 8:13:29 AM EDT. Market Open.
YM=F ES=F NQ=F
On Monday, US stocks rose on the heels of a remarkably volatile week for markets following news the Trump administration would treat tariffs on key electronics separately from duties on specific countries and would impose them at a later date. The president also floated possible tariff exemptions for car companies, sending auto stocks soaring.
But any clarity emerging on Trump’s trade continued to remain elusive as the president simultaneously pushed forward with plans to place tariffs on pharmaceutical and semiconductor imports.
Read more: The latest on Trump’s tariffs
On Tuesday, in addition to staying vigilant on the trade front, investors will be watching corporate earnings. Bank of America (BAC), Citi (C), Johnson & Johnson (JNJ), and PNC (PNC) are set to report their results before the bell.
Boeing (BA) stock fell almost 4% in premarket trading Tuesday after Bloomberg News reported that China instructed its airlines to suspend additional Boeing jet deliveries.
Traders will remain vigilant for any early signs of how tariff turmoil might affect companies’ bottom lines as well as what — if any — guidance they can provide for future quarters.
LIVE 6 updates
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Bank of America brings in highest-ever equities trading haul
Bank of America (BAC) stock rose 2% in premarket trading after the bank reported a jump in profits in the first quarter amid market volatility.
Like the other Wall Street banks that reported quarterly results — JPMorgan Chase (JPM), Goldman Sachs (GS), and Morgan Stanley (MS) — Bank of America saw a pullback in investment banking but a rise in trading revenue.
Yahoo Finance’s David Hollerith has the details:
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The trade war uncovers new economies of scale
In today’s Morning Brief, Yahoo Finance’s Hamza Shaban writes that the most important distinction for Big Tech isn’t just size, it’s whether they can get a tariff carve-out:
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Good morning. Here’s what’s happening today.
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Boeing stock falls as China halts jet deliveries amid escalating trade war
Boeing (BA) stock dropped more than 2% in premarket trading on Tuesday after reports emerged that China has ordered its airlines to halt further deliveries of Boeing jets, according to Bloomberg News.
This move marks the latest escalation in what Yahoo Finance’s Senior Columnist Rick Newman refers to as the “giant trade war” that has unfolded between the US and China. As Newman highlights in his latest piece, this conflict, which initially began with targeted tariffs, has now morphed into a full-scale trade war, with China as the primary adversary and smaller skirmishes occurring with other nations.
This tit-for-tat escalation has significantly impacted industries, especially those reliant on global supply chains. The Boeing delivery halt is just one example of how the trade war continues to ripple through various sectors, with repercussions felt by businesses and consumers alike.
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Asian indexes rise on gains from auto industry tariff delay
Asian markets rallied, with Japan leading the surge, after President Donald Trump signaled a possible halt to planned auto tariffs—easing investor nerves already soothed by the decision to delay duties on certain consumer tech products.
Bloomberg reports
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Jamie Dimon offloads $31.5 million in JPMorgan shares
Jamie Dimon, CEO of JPMorgan Chase & Co (JPM), has sold roughly $31.5 million in stock of America’s largest bank. The sale is his second offload of stock since taking the role of CEO in 2005.
