As U.S. stock futures indicated a lower opening, investors awaited further developments on tariffs. The S&P 500 and Nasdaq futures were down, following record highs in the previous sessions. The Dow Jones Industrial Average futures remained relatively stable, while Bitcoin and Treasury note yields showed minimal movement. Gold futures, however, experienced a slight decline.
President Donald Trump issued a warning of an additional 10% tariff on nations supporting policies against the United States within the BRICS group. This statement coincided with the group’s meeting in Brazil. Trump also announced the initiation of tariff negotiations with countries worldwide, starting two days before the U.S. tariff deadline.
Tesla shares faced a setback following CEO Elon Musk’s announcement of creating a new political party called the “America Party.” This move drew criticism from Trump, who claimed third parties historically failed in the U.S. Musk’s decision triggered a 7% premarket drop in Tesla stock.
OPEC+ members, including major oil-producing nations, agreed to boost oil production levels once again. This decision marked a continuation of the group’s efforts to stabilize the oil market. West Texas Intermediate crude prices remained steady around $67 per barrel.
Datadog shares gained attention after surging nearly 15% upon news of the company’s inclusion in the S&P 500 index. This positive development followed a period of fluctuating stock performance for Datadog. Despite recent volatility, the stock had shown resilience and had gained significantly since the beginning of the year.
Investors navigated these developments as they prepared for the day’s market opening, keeping a close eye on the evolving economic landscape and geopolitical dynamics impacting various sectors.
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