Dow Jones Industrial Average futures wavered on Tuesday — a day after the blue-chip index closed at a record high — as investors assessed the threat of new tariffs from President-elect Donald Trump. Futures tied to the 30-stock Dow ticked down 145 points, or 0.3%. S&P 500 futures and Nasdaq-100 futures each rose around 0.2%. On Monday night, Trump called for a 25% tariff on products from Mexico and Canada, as well as an additional 10% levy on Chinese goods. He has already said he would impose a tariff of up to 20% on all imports, and an additional duty of at least 60% on products from China. To be sure, Wall Street appeared to be taking the news in stride, “both because investors don’t entirely believe the levies will wind up being implemented and as the headlines are counteracted by favorable year-end seasonality and decent earnings,” according to Adam Crisafulli of Vital Knowledge. Stocks are coming off an action-packed session fueled by Trump’s new Treasury secretary pick, hedge fund executive Scott Bessent. The gains helped bolster the belief that the postelection rally is back in full gear following a brief breather. Both the Dow and S&P 500 hit new intraday records in Monday’s session, with the former finishing the day up by more than 400 points. The small cap-focused Russell 2000 also notched a fresh high, marking its first new record since 2021. That advance came as Treasury yields fell with traders taking a favorable view of Bessent leading the Treasury department. Many investors view the hedge fund manager as a champion of financial markets and the economy given his background, and as someone who could potentially counteract some of Trump’s aggressive trade aspirations. “These policies may take more time to play through into the market actually get enacted,” NewEdge chief investment officer Cameron Dawson told CNBC’s “Closing Bell” on Monday of potential new policies from the Treasury pick. “It’s definitely a question mark of how much impact he can have in the short run as we round the year.” Investors will monitor Federal Reserve meeting minutes due out at 2 p.m. ET for insights into the path of monetary policy. The U.S. market is closed Thursday for the Thanksgiving holiday and set to close early Friday, with volume expected to remain light. U.S. Treasury yields were higher on Tuesday as investors looked ahead to the latest Federal Reserve meeting minutes and key economic data due this week. At 4:17 a.m. ET, the yield on the 10-year Treasury was up by nearly four basis points to 4.302%. The 2-year Treasury yield was last at 4.278% after rising by more than two basis points. Asia-Pacific markets traded mixed Tuesday, in contrast to Wall Street, which saw U.S. benchmarks notching record highs following President-elect Donald Trump’s choice for Treasury secretary. Australia’s S&P/ASX 200 fell 0.69% to close at 8,359.4 after hitting a new all-time closing high on Monday. Japan’s Nikkei 225 shed 0.87% to close at 38,442, while the Topix lost 0.96% to close at 2,689.55. Japan’s service PPI rose 2.9% year on year, compared to a 2.8% rise the previous month. The Kospi slid 0.55% to end at 2,520 and the Kosdaq lost 0.53% to close at 693.15. Hong Kong’s Hang Seng Index traded 0.05% higher in its last hour of trade, while mainland China’s CSI 300 added 0.21% to close at 3,840.18. Oil prices ticked up in early trade on Tuesday after falling in the previous session as investors took stock of a potential ceasefire between Israel and Hezbollah, weighing on oil’s risk premium. Brent crude futures rose 35 cents, or 0.48%, to $73.36 a barrel at 7:46 a.m. ET, while U.S. West Texas Intermediate crude futures were at $69.28 a barrel, up 34 cents, or 0.49%. Both benchmarks settled down $2 a barrel on Monday following reports that Lebanon and Israel had agreed to the terms of a deal to end the Israel-Hezbollah conflict, which triggered a crude oil selloff. Gold prices lost about 3% after President-elect Donald Trump picked Scott Bessent as his Treasury secretary, with reports of Israel and Hezbollah nearing a ceasefire deal also eroding the safe-haven metal’s appeal. Spot prices of the yellow metal dropped 3.44% to $2,616.80 per ounce, according to data from Factset. Gold futures on the New York Mercantile exchange were trading at $2,628.5. “The ~$100 wipeout in Gold today is as severe in size & pace as the post U.S. election selloff on Nov 6th,” MKS Pamp’s head of metals strategy, Nicky Shiels said.