US stock futures edged up Tuesday morning as President Donald Trump said he was considering tariffs on Canada and Mexico. The S&P 500 futures rose 0.11%, while Dow Jones Industrial Average futures gained 0.24%. Nasdaq 100 futures remained flat.
Trump’s comments on tariffs for February 1, which would target Mexico and Canada due to their border policies, sparked market volatility. He also mentioned China as a potential target if Beijing doesn’t approve a TikTok deal.
However, Trump clarified that he isn’t ready to impose universal tariffs yet. Market analysts predict uncertainty will persist under his presidency, with some suggesting asset prices in 2025 will be driven by the path of Trump’s policies.
Trump declared a national energy emergency to increase fossil fuel production and vowed to promote business-friendly regulations. This may boost stocks that rely on smaller caps, oil, and bitcoin.
Stocks have had a strong week, with the S&P 500 gaining 2.9%, its best performance since November 8. The Dow and Nasdaq Composite also saw significant gains.
In other news, Jefferies downgraded Apple due to concerns about revenue disappointment, while Costco union members voted to authorize a strike if their contract can’t be reached.
Source: https://www.cnbc.com/2025/01/20/stock-futures-rise-as-trumps-second-term-begins-live-updates.html