US stocks were poised for gains on Sunday evening after jobs data delivered a surprise blow to expectations of a resilient economy. Futures on the Dow Jones Industrial Average reversed higher, rising 114 points or 0.26%. The yield on the 10-year Treasury climbed 3.3 basis points to 4.253%, while gold rose 0.17% to $3,405.70 per ounce.
Analysts warn that the US is now on the brink of recession, citing weak job gains and deteriorating consumer spending, housing, and manufacturing indicators. Mark Zandi from Moody’s Analytics described the economy as “on the precipice of recession.” The concerns come after President Trump’s tariffs were seen as a potential catalyst for economic growth.
The impact of Trump’s trade policies will be scrutinized further, with steeper duties on trading partners like Canada and Switzerland set to take effect. US Trade Representative Jamieson Greer said tariff rates are “pretty much set” despite some delays.
The coming week will see several key economic reports, including the June trade deficit and second-quarter productivity data. Earnings season is also in full swing, with top names like Palantir Technologies, Advanced Micro Devices, Caterpillar, Disney, and McDonald’s set to release quarterly reports.
Source: https://fortune.com/2025/08/03/stock-market-today-dow-futures-sp500-recession-warnings-jobs-report-trump-tariffs