US Stock Futures Decline Amid Tariff Concerns

US stock futures dipped following President Trump’s recent comments that dashed hopes for tariff relief, adding to the uncertainty in the market just ahead of the Federal Reserve’s upcoming policy decision.

Futures linked to the Dow Jones Industrial Average fell by 0.2%, while the S&P 500 saw a 0.4% decrease. The futures for the tech-heavy Nasdaq Composite slipped by 0.6%.

On Monday, the S&P 500 pulled back from record highs, which had marked its longest winning streak in two decades. Trump’s two remarks significantly shifted market sentiment: he announced a plan for a 100% tariff on films made outside the US and indicated that discussions with Chinese President Xi Jinping regarding trade wouldn’t happen this week.

The weight of tariff issues was also evident in Ford’s strong earnings report, where the automaker noted future uncertainties linked to trade, projecting a potential $1.5 billion impact from Trump’s auto duties.

As investors await Wednesday’s decision from the Federal Reserve regarding interest rates, there’s an expectation that rates will remain unchanged. However, all ears will be on Chairman Jerome Powell’s remarks for hints about future monetary policy directions.

Tuesday also brings quarterly earnings reports from major companies, including chipmaker AMD, server manufacturer Super Micro, and electric vehicle company Rivian.

Palantir Stock Drops After Revenue Report

Palantir Technologies Inc.’s stock fell 9.2% in after-hours trading, following a revenue report that did not meet Wall Street’s expectations, according to Bloomberg.