June S&P 500 E-Mini futures (ESM25) are down -0.18%, and June Nasdaq 100 E-Mini futures (NQM25) are down -0.29% this morning, pointing to a slightly lower open on Wall Street after yesterday’s rally, while investors await a raft of U.S. economic data as well as remarks from Federal Reserve officials.
Tariffs have remained in focus for investors, with U.S. equities rallying on Monday amid optimism over more targeted U.S. levies. U.S. President Donald Trump on Monday twice indicated that trading partners could be granted exemptions or reductions from his “reciprocal” tariffs. However, the U.S. president also stated that he will soon impose tariffs on automobiles and pharmaceuticals, and later added that levies on lumber and semiconductors will be introduced further down the line. “So we’ll be announcing some of these things in the very near future, not the long future, the very near future,” Trump said.
