FX.co ★ US Futures Point to Weak Open

On Monday, U.S. futures showed mixed movements, with S&P 500 contracts dipping by 0.2% and Nasdaq 100 futures declining by 0.4%, while the Dow Jones remained almost unchanged. As investors returned from an extended holiday, they were met with new trade updates to consider. President Trump revealed plans for new trade agreements and announced potential tariff measures, setting August 1 as the commencement date for reciprocal tariffs. This timeline allows for a three-week negotiation period. Concurrently, the European Union conveyed that it is close to finalizing a framework trade deal with the United States. Furthermore, Trump cautioned that any nation aligning with the "anti-American policies" of the BRICS group would incur an additional 10% tariff on its exports to the U.S. In corporate news, Tesla's shares dropped almost 6% in premarket trading following Elon Musk's announcement of his intention to establish a new political party, sparking investor concerns about potential impacts on Tesla's brand and sales.