U.S. stock futures slipped on Monday night as the market awaited clarity from President Donald Trump regarding his tariff policy rollout.
Futures tied to the Dow Jones Industrial Average fell by 86 points, or 0.2%. S&P 500 futures and Nasdaq 100 futures dipped 0.3% and 0.4%, respectively.
On Monday, the S&P 500 and the Dow Jones Industrial Average posted gains for the session. The broad market index added 0.55% on Monday, while the 30-stock Dow jumped 1%. The Nasdaq Composite slid 0.14% for the session.
Stocks were shaken in the first quarter of 2025 by mounting uncertainty around the new Trump administration’s economic tariffs. As recently as Sunday, Trump said that his “reciprocal tariffs” plan would “start with all countries.” Investors had been hoping for a narrow approach toward administering the levies.
Traders will likely receive further insight into the situation on Wednesday, April 2 — when many of Trump’s duties are slated to go into effect.
Stocks ended the first quarter with losses, as the S&P 500 posted a 4.6% decline and the Nasdaq dropped more than 10% in the period. However, the future may be brighter heading into the second quarter, especially given the S&P 500’s rebound during the session, according to Scott Wren, senior global market strategist at Wells Fargo Investment Institute.
“We saw the retest today; we might get a little bit of a bounce here. We want to buy while we’ve got a pullback,” he said Monday on CNBC’s “Closing Bell: Overtime.” Consider that the broad market index at one point traded 10% below its record high on Monday, but ultimately made a comeback from the drop.
“We’re expecting some broadening out in both earnings and just stock performance this year,” Wren said. “We don’t think it’s going to be another year where you’ve got a handful of stocks leading the charge.”
On Tuesday, traders will watch out for March’s manufacturing data alongside February’s job openings and construction spending reports.
Wall Street’s VIX index tracking fear and greed rose for 4th day on Monday
The CBOE Volatility Index (VIX) rose for a fourth day Monday, the fist four-day advance since the end of February. At one point on Monday, during the worst of the morning sell-off, the VIX got as high as 24.80, eclipsing Friday’s intraday high of 22.18, before finally closing at 22.28.
The VIX Index measures traders’ expectations for how much the S&P 500 might move in either direction, up or down, over the next 30 days, using options prices. When the VIX is high, traders are thought to be rattled, expecting large swings in prices, and when the VIX is low, investors are thought to be more confident and willing to take risks.
The VIX in March soared as high as 29.57 during a market sell-off on March 11, after ending February at 19.63. The VIX low for the month of March came last week, on Wednesday March 26, after stocks put together a three-day rebound that drove the index as low as 16.97.
— Scott Schnipper
Stocks making the biggest moves after the bell: PVH and Progress Software
These are the stocks moving the most in extended-hours trading:
- PVH — The luxury brand, which owns brands such as Calvin Klein and Tommy Hilfiger, surged 15% after reporting a fourth-quarter earnings and revenue beat. PVH posted earnings of $3.27 per share on revenue of $2.37 billion. Analysts polled by LSEG had expected earnings of $3.21 per share on $2.33 billion in revenue.
- Progress Software — Shares popped 8% after the software stock reported fiscal first-quarter adjusted earnings of $1.31 per share, topping the $1.06 per share analysts had forecasted, per LSEG. Progress Software’s revenue of $238 million also beat the expected $236 million. The company also guided for full-year earnings, ex-items, that exceeded the consensus estimate.
— Lisa Kailai Han
Stock futures slip on Monday night
Stock futures ticked lower on Monday night.
Dow futures slipped around 0.1% shortly after 6 p.m. ET. S&P 500 and Nasdaq 100 futures both shed 0.2%.
— Lisa Kailai Han