U.S. stock futures ticked lower in premarket trading on Tuesday after two days of gains amid choppy trading.
Futures contracts connected to the Dow Jones Industrial Average were off 0.5% in early trading on Tuesday. S&P 500 and Nasdaq 100 futures were each down 0.4%. Stocks rose on Monday as market participants digested President Trump’s announcement over the weekend that semiconductors and various consumer electronics would be exempt from the tariffs announced earlier this month.
It has been a volatile two weeks for the stock market, with President Trump’s unveiling of “reciprocal” tariffs sparking Wall Street’s worst sell-off in years before his announcement of a 90-day pause fueled its best day in years. Uncertainty remained high on Tuesday despite the weekend’s tariff relief; Treasury Secretary Howard Lutnick on Sunday suggested the tariff exemption for electronics was just a temporary reprieve before the products are subjected to their own duties.
Tensions between the U.S. and China, which is still subject to a tariff rate of more than 100%, were high on Tuesday. Boeing (BA) stock fell in early trading amid reports Beijing had instructed carriers to stop accepting deliveries of the American jet maker’s planes.
Earnings season picked up steam Tuesday, with better-than-expected results from Bank of America (BAC) lifting its stock more than 1% premarket. Johnson & Johnson (JNJ) shares fell in early trading despite the healthcare giant topping earnings estimates.
Treasury yields were little changed after tumbling Monday. The 10-year yield, which affects the interest rates on consumer loans like mortgages, was at 4.39%. Yields have surged this month despite the recent flight to safety, a phenomenon that has puzzled some onlookers worried about dysfunction in the bond market.
Gold futures traded 0.3% higher at $3,235 an ounce, while West Texas Intermediate crude oil futures were down 0.7% at $61 a barrel. Bitcoin was recently trading at $85,600, up slightly from its overnight low of about $84,500.
Stock Futures Tick Lower After 2 Days of Gains
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Futures contracts connected to the Dow Jones Industrial Average were down 0.3% in premarket trading on Tuesday.
S&P 500 futures were off 0.2%.
Nasdaq 100 futures were also down 0.2%.
