Market Indexes Under Pressure as Trade Concerns Mount
Major U.S. stock index futures are pointing lower Monday morning as investors digest weekend comments from President Donald Trump regarding his administration’s trade policies. Dow Jones Industrial Average futures slid by 53 points (0.1%), while S&P 500 futures dipped 0.4% and Nasdaq-100 futures fell 0.5% in premarket trading.
This comes after a strong performance last week that saw the S&P 500 and Nasdaq Composite closing at all-time highs on Friday. The Dow Jones Industrial Average remains just 0.4% away from setting its first all-time high since December 4, 2024.
Year-to-date, the markets have shown impressive gains despite ongoing economic uncertainties, with the S&P 500 and Nasdaq both up nearly 7% in 2025, while the Dow has risen 5.4%.
Trump Announces Tariff Delay, Threatens New 10% BRICS Penalties
In a significant development for markets today, President Trump clarified that previously announced tariffs will go into effect on August 1, not July 9 as many investors had expected. Treasury Secretary Scott Bessent stated that tariffs will return to April 2 levels on August 1 if there is no progress on signing trade deals with U.S. partners.
Adding to trade concerns, Trump also threatened an additional 10% tariff on countries that align with what he termed “Anti-American policies of BRICS,” referring to emerging market countries including Brazil, Russia, India, and China. The announcement coincides with the BRICS meeting currently underway in Rio de Janeiro, Brazil.
“Ultimately, trade negotiations usually take a long time to negotiate; free trade arrangements the US negotiated have taken an average of 3 years,” noted Rajeev Sibal, senior global economist at Morgan Stanley.
Premarket Movers: Winners and Losers
Several stocks are making significant moves in premarket trading. Among the biggest gainers, Mullen Automotive (MULN) is surging 80.27% to $0.40 on heavy volume of over 88 million shares. Sonnet BioTherapeutics (SONN) is also showing strong momentum, up 60.97% to $6.31.
Other notable premarket gainers include:
– MediaCo Holding (MDIA): +28.18% to $1.41
– Inno Holdings (INHD): +27.12% to $1.50
– Northern Dynasty Minerals (NAK): +22.14% to $1.71
On the downside, MingZhu Logistics Holdings (YGMZ) is falling 18.60% to $0.83, while Lixte Biotechnology (LIXT) is down 18.02% to $2.32. Bitmine Immersion Technologies (BMNR) is also under pressure, dropping 17.47% to $111.42.
Key Earnings and Economic Events This Week
The earnings calendar is relatively light at the start of this week, with no major reports scheduled for Monday, July 7. However, several notable companies will report later in the week, including Delta Air Lines (DAL) on Thursday, which will provide insights into second-quarter travel trends amid tariff-related uncertainties.
Delta CEO Ed Bastian previously noted that “with broad economic uncertainty around global trade, growth has largely stalled.” The airline has reduced planned capacity growth in the second half of the year to remain flat versus 2024. Wall Street expects Delta to report second-quarter earnings per share of $2.02 on revenue of $15.4 billion.
Other companies reporting this week include:
– Tuesday: Penguin Solutions (PENG)
– Wednesday: AZZ (AZZ)
– Thursday: Conagra (CAG), Helen of Troy (HELE), Simply Good Foods (SMPL), Levi Strauss (LEVI), PriceSmart (PSMT), and WD-40 (WDFC)
Nvidia Approaches Historic $4 Trillion Milestone
Nvidia (NVDA) continues its remarkable run, with shares closing at an all-time high of $159.34 last Thursday, pushing its market capitalization to $3.89 trillion. The AI chipmaker is on the verge of becoming the first company to reach a $4 trillion market cap, needing just a 3% rise from Thursday’s closing price to hit this unprecedented milestone.
Microsoft (MSFT), which has competed with Nvidia this year for the title of world’s most valuable company, could also reach the $4 trillion threshold soon, according to Wedbush analysts led by Dan Ives. Both companies have gained approximately 18% since the start of 2025.
“We believe both Nvidia and Microsoft will hit the $4 trillion market cap club this summer and then over the next 18 months the focus will be on the $5 trillion club….as this tech bull market is still early being led by the AI Revolution,” the analysts noted.
Market Outlook: Navigating Trade Uncertainty
As markets navigate the uncertainty surrounding trade policies, investors remain cautiously optimistic about the continued strength of the U.S. economy and corporate earnings. The second-quarter earnings season, which begins in earnest next week with major banks reporting, will be closely watched for signs of how companies are managing in the current economic environment.
Analysts at FactSet estimate a year-over-year earnings growth rate of 5.0% for S&P 500 companies in Q2, which would mark the lowest earnings growth reported by the index since Q4 2023.
Despite concerns about trade tensions, some market analysts remain bullish. Tom Lee, head of research at Fundstrat Global Advisors, recently characterized the current market as “the most hated V-shaped rally,” suggesting that companies may surprise to the upside during earnings season if they demonstrate the ability to navigate tariff challenges effectively.
As markets today grapple with premarket movers and ongoing trade developments, investors will be watching closely for further policy clarifications and their potential impact on global markets and the broader economy.
Market Indexes Under Pressure as Trade Concerns Mount
Major U.S. stock index futures are pointing lower Monday morning as investors digest weekend comments from President Donald Trump regarding his administration’s trade policies. Dow Jones Industrial Average futures slid by 53 points (0.1%), while S&P 500 futures dipped 0.4% and Nasdaq-100 futures fell 0.5% in premarket trading.
This comes after a strong performance last week that saw the S&P 500 and Nasdaq Composite closing at all-time highs on Friday. The Dow Jones Industrial Average remains just 0.4% away from setting its first all-time high since December 4, 2024.
Year-to-date, the markets have shown impressive gains despite ongoing economic uncertainties, with the S&P 500 and Nasdaq both up nearly 7% in 2025, while the Dow has risen 5.4%.
Trump Announces Tariff Delay, Threatens New 10% BRICS Penalties
In a significant development for markets today, President Trump clarified that previously announced tariffs will go into effect on August 1, not July 9 as many investors had expected. Treasury Secretary Scott Bessent stated that tariffs will return to April 2 levels on August 1 if there is no progress on signing trade deals with U.S. partners.
Adding to trade concerns, Trump also threatened an additional 10% tariff on countries that align with what he termed “Anti-American policies of BRICS,” referring to emerging market countries including Brazil, Russia, India, and China. The announcement coincides with the BRICS meeting currently underway in Rio de Janeiro, Brazil.
“Ultimately, trade negotiations usually take a long time to negotiate; free trade arrangements the US negotiated have taken an average of 3 years,” noted Rajeev Sibal, senior global economist at Morgan Stanley.
Premarket Movers: Winners and Losers
Several stocks are making significant moves in premarket trading. Among the biggest gainers, Mullen Automotive (MULN) is surging 80.27% to $0.40 on heavy volume of over 88 million shares. Sonnet BioTherapeutics (SONN) is also showing strong momentum, up 60.97% to $6.31.
Other notable premarket gainers include:
– MediaCo Holding (MDIA): +28.18% to $1.41
– Inno Holdings (INHD): +27.12% to $1.50
– Northern Dynasty Minerals (NAK): +22.14% to $1.71
On the downside, MingZhu Logistics Holdings (YGMZ) is falling 18.60% to $0.83, while Lixte Biotechnology (LIXT) is down 18.02% to $2.32. Bitmine Immersion Technologies (BMNR) is also under pressure, dropping 17.47% to $111.42.
Key Earnings and Economic Events This Week
The earnings calendar is relatively light at the start of this week, with no major reports scheduled for Monday, July 7. However, several notable companies will report later in the week, including Delta Air Lines (DAL) on Thursday, which will provide insights into second-quarter travel trends amid tariff-related uncertainties.
Delta CEO Ed Bastian previously noted that “with broad economic uncertainty around global trade, growth has largely stalled.” The airline has reduced planned capacity growth in the second half of the year to remain flat versus 2024. Wall Street expects Delta to report second-quarter earnings per share of $2.02 on revenue of $15.4 billion.
Other companies reporting this week include:
– Tuesday: Penguin Solutions (PENG)
– Wednesday: AZZ (AZZ)
– Thursday: Conagra (CAG), Helen of Troy (HELE), Simply Good Foods (SMPL), Levi Strauss (LEVI), PriceSmart (PSMT), and WD-40 (WDFC)
Nvidia Approaches Historic $4 Trillion Milestone
Nvidia (NVDA) continues its remarkable run, with shares closing at an all-time high of $159.34 last Thursday, pushing its market capitalization to $3.89 trillion. The AI chipmaker is on the verge of becoming the first company to reach a $4 trillion market cap, needing just a 3% rise from Thursday’s closing price to hit this unprecedented milestone.
Microsoft (MSFT), which has competed with Nvidia this year for the title of world’s most valuable company, could also reach the $4 trillion threshold soon, according to Wedbush analysts led by Dan Ives. Both companies have gained approximately 18% since the start of 2025.
“We believe both Nvidia and Microsoft will hit the $4 trillion market cap club this summer and then over the next 18 months the focus will be on the $5 trillion club….as this tech bull market is still early being led by the AI Revolution,” the analysts noted.
Market Outlook: Navigating Trade Uncertainty
As markets navigate the uncertainty surrounding trade policies, investors remain cautiously optimistic about the continued strength of the U.S. economy and corporate earnings. The second-quarter earnings season, which begins in earnest next week with major banks reporting, will be closely watched for signs of how companies are managing in the current economic environment.
Analysts at FactSet estimate a year-over-year earnings growth rate of 5.0% for S&P 500 companies in Q2, which would mark the lowest earnings growth reported by the index since Q4 2023.
Despite concerns about trade tensions, some market analysts remain bullish. Tom Lee, head of research at Fundstrat Global Advisors, recently characterized the current market as “the most hated V-shaped rally,” suggesting that companies may surprise to the upside during earnings season if they demonstrate the ability to navigate tariff challenges effectively.
As markets today grapple with premarket movers and ongoing trade developments, investors will be watching closely for further policy clarifications and their potential impact on global markets and the broader economy.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.