U.S. stock index futures fluctuated ahead of Monday’s open, pulling back from the mixed to positive finish seen on Wall Street in the previous session.
At around 5:55 a.m. ET, Dow futures were off 11 points, indicating a drop of 8.06 points at the open. The Nasdaq and S&P 500 futures meantime pointed to a flat to positive open for their respective markets. The negative sentiment seen in U.S. futures is likely to be linked somewhat to the recent tariff announcements made by the U.S. president.
Last week, markets went on a roller-coaster ride during the last two trading days after Donald Trump announced that the U.S. would be imposing new tariffs on aluminum and steel, as early as this coming week. The news was met with criticism from a number of leaders, and investors have remained on edge, as Trump’s announcement sparks fears of a trade war.
On Saturday, Trump tweeted that if the EU wanted to further increase “their already massive tariffs and barriers on U.S companies,” then the U.S. would apply a tax on European automakers. Many European car firms saw their shares open sharply lower on Monday morning.
On the U.S. central banking front, Fed Governor Randal Quarles is expected to be in Washington, D.C., where he is set to deliver remarks at the Institute of International Bankers Annual Washington Conference.
Markets remain on edge overseas, with Asia closing lower as Chinese leaders headed into an annual parliament meeting. While in Europe, politics dominated following news that early projections in Italy indicated that no party was emerging with a clear majority in the election that took place Sunday.
