US stock futures advanced early Monday as uncertainty looms over President Donald Trump’s intentions to impose tariffs on significant US trading partners this week, coinciding with an important jobs report and notable retail earnings.
S&P 500 futures (ES=F) rose by 0.2%, while futures for the tech-focused Nasdaq 100 (NQ=F) increased by 0.3%. The Dow Jones Industrial Average futures (YM=F) remained relatively unchanged. The major US indexes are exiting a turbulent week and a disappointing month in February.
March trading begins with investors grappling with more uncertainties as tariff deadlines approach, the Federal Reserve’s next meeting nears, and the US economy faces scrutiny to counteract investors’ growth concerns.
Tariffs on Canada and Mexico are expected to take effect on Tuesday, with no signs that the planned implementation date of March 4 will be postponed again. While 25% tariffs are intended, Commerce Secretary Howard Lutnick suggested that they could be adjusted lower, referring to the situation as “fluid.” Additional tariffs on China are also scheduled to commence on Tuesday.
As of 3:50:03 AM EST. Market Open.
ES=F YM=F NQ=F
This week also presents investors with a key jobs report and a series of retail earnings that could either heighten or alleviate concerns regarding economic decline and consumer resilience. The nonfarm payrolls report for February, due on Friday, is drawing significant attention due to signs of potential weaknesses in the labor market. Modest job growth is anticipated, with the unemployment rate holding steady at 4%.
In a week packed with retail earnings, results from Target (TGT) on Tuesday and Costco (COST) will be crucial for insights into consumer behavior, especially after recent data indicated unexpected declines in their spending in January, the steepest drop in four years.
Meanwhile, cryptocurrencies experienced an upswing after Trump announced on Sunday that five digital assets — bitcoin (BTC-USD), ether (ETH-USD), XRP (XRP-USD), solana (SOL-USD), and cardano (ADA-USD) — would be incorporated into a new US strategic cryptocurrency reserve. The prices of these tokens surged following the president’s social media announcement.
Trump indicated that bitcoin (BTC-USD) and ethereum would play pivotal roles in the reserve, which is to be established following a January executive order concerning digital assets. Bitcoin, which had fallen 17% to below $79,000 per token in February, briefly climbed above $94,000 following the news, but has since retreated to around $91,700.
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