March S&P 500 E-Mini futures (ESH26) are down -0.48%, and March Nasdaq 100 E-Mini futures (NQH26) are down -0.65% this morning, pointing to a lower open on Wall Street as heightened uncertainty about U.S. trade policy dampened sentiment.
U.S. President Donald Trump on Saturday said he would raise global tariffs to 15% from 10%, a day after the Supreme Court struck down his “reciprocal” tariffs. “I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been “ripping” the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level,” Trump said in a Truth Social post. Notably, the 15% global tariffs are imposed under Section 122 of the 1974 Trade Act and are permitted to remain in effect for 150 days. Mr. Trump also cautioned that additional tariffs would follow. Uncertainty surrounding U.S. trade policy is adding another layer of complexity to markets already unsettled by concerns over AI disruption and U.S.-Iran tensions.
Investor focus this week is on an earnings report from chip giant Nvidia, whose results have become a barometer for the AI trade, a fresh batch of U.S. economic data, and remarks from Federal Reserve officials.
In Friday’s trading session, Wall Street’s major equity averages closed higher. Most members of the Magnificent Seven stocks advanced, with Alphabet (GOOGL) climbing over +4% to lead gainers in the Nasdaq 100 and Amazon.com (AMZN) rising more than +2% to lead gainers in the Dow. Also, chip stocks gained ground, with Lam Research (LRCX) rising over +3% and Analog Devices (ADI) advancing more than +2%. In addition, Corning (GLW) surged over +7% and was the top percentage gainer on the S&P 500 after UBS raised its price target on the stock to $160 from $125. On the bearish side, cybersecurity software stocks sank after Anthropic PBC rolled out a new security feature in its Claude AI model, with Cloudflare (NET) slumping more than -8%, and CrowdStrike…
..
