FX.co ★ US Futures Point to Lower Open

On Monday, U.S. stock futures experienced a slight decline, with futures associated with the Dow, S&P 500, and Nasdaq each decreasing by approximately 0.3%. This dip was prompted by escalating trade tensions following President Trump's recent declaration of a 30% tariff on imports from the European Union and Mexico, slated to be implemented on August 1st. Leaders from these trading partners have committed to ongoing negotiations with the United States, aiming to reach an agreement that could mitigate the tariff increase. Concurrently, investors are preparing for an important Consumer Price Index (CPI) report anticipated tomorrow, which is expected to indicate rising inflation as companies begin to pass on increased import costs. In the corporate sector, major tech companies saw declines in premarket trading, including Microsoft (-0.4%), Apple (-0.8%), Amazon (-0.2%), Meta (-0.2%), Broadcom (-0.4%), and Alphabet (-0.6%), while Nvidia remained steady. Conversely, Tesla shares rose by approximately 1.2%, following Elon Musk's hint at a forthcoming shareholder vote on Tesla's investment in xAI.