Daily Comment

Stock futures were slightly lower on Tuesday after China slapped tariffs on U.S. imports, retaliating to U.S. duties on exports from Beijing. Futures tied to the Dow Jones Industrial Average were down 65 points, or about 0.2%, while S&P 500 futures traded around the flatline. Meanwhile, Nasdaq-100 futures were up 0.2%.

Stock futures dropped to kick off February after President Donald Trump hit several key U.S. trading partners with tariffs, raising fears that a full-blown trade war would disrupt global supply chains, reignite inflation and slow the economy. Futures tied to the Dow Jones Industrial Average fell 584 points, or 1.3%. S&P 500 futures dropped 1.6%, while Nasdaq-100 futures lost 1.7%. Futures on the Russell 2000, the small-cap benchmark, lost 2.1%. The Cboe Volatility Index, Wall Street’s fear gauge, briefly spiked above 22 before trading around 19.

Stock futures moved higher Friday as investors analyzed earnings reports from Apple and other well-known companies ahead of the release of a closely followed inflation report. Nasdaq-100 futures gained 0.8%, while those tied to the S&P 500 advanced 0.4%. Dow Jones Industrial Average futures added 145 points, or 0.3%.

U.S. stock futures rose Thursday as Wall Street digested recent quarterly results from a slew of megacap tech companies. Investors are coming off a losing session after the Federal Reserve held steady on rates. S&P 500 futures added 0.4%, while Nasdaq 100 futures advanced 0.5%. Futures tied to the Dow Jones Industrial Average climbed 177 points, or 0.4%.

S&P 500 futures slipped on Wednesday as investors turned toward the first Federal Reserve interest rate decision of 2025. Futures tied to the 500-stock index shed 0.3%, while Dow Jones Industrial Average futures inched down 81 points, or 0.2%. Nasdaq 100 futures lost less than 0.1%.

S&P 500 futures inched higher early Tuesday after a sell-off fueled by worries over the emergence of Chinese artificial intelligence startup DeepSeek and its implications for technology investment and profits in the U.S. S&P 500 index futures rose 0.1% and Nasdaq 100 futures gained about 0.2%. Meanwhile, Dow Jones Industrial Average contracts fell 61 points, or 0.1%.

Stock futures were down sharply on Monday on concern about an artificial intelligence stock bubble popping because of the emergence of Chinese startup DeepSeek that possibly made a competitive AI model for a fraction of the cost. Futures tied to the Dow Jones Industrial Average dropped 311 points, or 0.7%, while S&P futures shed 2%. Nasdaq 100 futures slid 3.5% amid a big decline in technology shares.

S&P 500 futures were little changed on Friday, a day after the index hit a record closing high following President Donald Trump’s call to lower interest rates and crude prices. Futures tied to the broad index lost 0.1%, while Nasdaq 100 futures traded near its flatline. Futures on the Dow Jones Industrial Average fell 132 points, or 0.3%.

S&P 500 futures ticked lower early Thursday as Wall Street wondered if record highs were once again in the cards. Futures for the S&P 500 slipped around 0.2%. Dow Jones Industrial Average futures edged up 28 points, or 0.1%, while Nasdaq 100 futures lost about 0.5%.

S&P 500 and Nasdaq-100 futures rose Wednesday, led by early gains in Netflix, after the streaming giant posted blockbuster quarterly results. Futures contracts tied to the broad market index advanced 0.4%, while those associated with the Nasdaq-100 jumped 0.8%. Dow Jones Industrial Average futures gained 61 points, or 0.1%.

Stock futures advanced on Tuesday as Donald Trump’s second term as president began with a flurry of executive orders and comments on tariffs targeting goods coming from key trade partners. Futures tied to the S&P 500 rose 0.3%, while Dow Jones Industrial Average futures climbed 177 points, or 0.4%. Nasdaq-100 futures added 0.4%. Regular trading was closed Monday for the Martin Luther King holiday.

U.S. financial markets are closed on Monday for Martin Luther King Jr. Day. European markets traded lower on Monday, with investor attention on the inauguration of U.S. President-elect Donald Trump later in the day. The pan-European Stoxx 600 index shed 0.15% by 1:10 p.m. London time, with most sectors in negative territory.