U.S. stock futures are trading lower on Tuesday, May 6, 2025, as investors await the Federal Reserve’s policy meeting amid ongoing concerns about President Trump’s tariff policies. Futures tied to the S&P 500<\/a> (ES=F)<\/b> are down 0.4%, while Dow Jones<\/a> Industrial Average (YM=F)<\/b> futures have slipped 0.2%. The tech-heavy Nasdaq Composite (NQ=F)<\/b> is showing the largest decline, down 0.6% in early morning trading. This downward movement follows Monday’s market retreat, which snapped the S&P 500’s impressive nine-day winning streak\u2014its longest since 2004. The shift in sentiment was largely driven by President Trump’s recent comments on tariffs, including plans to impose a 100% tariff on movies produced outside the U.S. and indications that he has no plans to discuss trade with Chinese President Xi Jinping this week. The Federal Reserve’s two-day policy meeting, which begins today, is commanding market attention. While the central bank is widely expected to keep interest rates unchanged in the 4.25%-4.50% range, investors will be closely monitoring Fed Chair Jerome Powell’s press conference on Wednesday for clues about future monetary policy. Market participants are particularly interested in how the Fed views the potential economic impact of Trump’s tariffs, which could increase both inflation and unemployment. According to the CME Group’s FedWatch tool, there’s only a 1.8% chance of a rate cut at this meeting, but the probability rises to around 30% for the June meeting. Several high-profile companies are scheduled to report quarterly results today, which could significantly impact market sentiment:<\/p>\n – Advanced Micro Devices (AMD<\/a>)<\/b> will release earnings after market close, with investors focused on its data center and AI accelerator businesses, as well as updates on its MI300 chips. The report will provide crucial insights into AMD’s position in the AI chip race against Nvidia. – Super Micro Computer (SMCI<\/a>)<\/b> will report after the bell, with the market already digesting its preliminary results that fell short of previous guidance. The company expects net sales of $4.5-$4.6 billion, below its prior forecast of $5.0-$6.0 billion. SMCI attributed the shortfall to “delayed customer platform decisions” that shifted sales into the fourth quarter. – Rivian (RIVN<\/a>)<\/b> earnings will focus on vehicle production and delivery volumes, as well as cost control and margin improvement efforts. The EV startup faces rising competition and headwinds in consumer discretionary spending. – Other notable companies reporting today include BP (BP<\/a>)<\/b>, Ferrari (RACE<\/a>)<\/b>, Celsius Holdings (CELH<\/a>)<\/b>, Datadog (DDOG<\/a>)<\/b>, and Marriott International (MAR<\/a>)<\/b>. Uncertainty surrounding Trump’s tariff policies remains a significant market overhang. Ford Motor Company (F<\/a>)<\/b> pulled its 2025 guidance after Monday’s close, citing trade uncertainties, and said it foresees a $1.5 billion hit from the president’s auto duties.Federal Reserve Meeting Takes Center Stage<\/h2>\n
Major Earnings Reports on Deck<\/h2>\n
Tariff Concerns Continue to Weigh on Markets<\/h2>\n