FX.co ★ US Futures Point to Lower Open

On Friday, US stock futures experienced a decline, with key index contracts, including those tied to the S&P 500, Nasdaq, and Dow Jones, falling approximately 0.5%. This downturn comes as investors are digesting new tariff threats issued by the Trump administration. The dip follows historic highs for the S&P 500 and Nasdaq achieved just the day before. President Trump announced a significant 35% tariff on imports from Canada, set to commence on August 1st, and has indicated plans to elevate tariffs ranging between 15% and 20% on the majority of other trading partners, an increase from the existing 10% rate. The European Union is anticipating an official notification of these new tariff rates soon. Concurrently, market participants are preparing for both the upcoming earnings season next week and crucial economic reports, including the Consumer Price Index (CPI). In pre-market activity, large-cap technology stocks demonstrated a general decline, with Nvidia, Microsoft, Apple, Amazon, Meta, Broadcom, and Alphabet all posting losses between 0.2% and 0.8%. Throughout the week, the S&P 500 and Nasdaq remained relatively stable, while the Dow Jones saw a slight decrease of 0.4%.