U.S. stock futures were mixed Tuesday morning, July 8, as investors weighed the impact of President Trump’s sweeping new tariffs against growing optimism that trade negotiations may still progress before the August 1 deadline.
All eyes remain on the fallout from Monday’s selloff and whether global equities can stabilize following Washington’s latest trade offensive.
Markets this morning: Futures at a glance
- Dow futures: -0.14%
- S&P 500 futures: +0.03%
- Nasdaq futures: +0.15%
- 10-year Treasury yield: 4.39%
- Dollar Index: +0.3%
After Monday’s steep losses, U.S. indexes remain on edge:
- Dow Jones: Closed down 422 points (-0.94%)
- S&P 500: Fell 0.79%
- Nasdaq: Dropped 0.92%
It was the worst single-day decline in three weeks, sparked by Trump’s announcement of 25%–40% tariffs on 14 countries, including Japan, South Korea, and South Africa. The administration moved the start date to August 1, giving markets some breathing room but little clarity.
Global markets react cautiously
Despite the heavy rhetoric, Asian markets opened slightly higher, showing a mix of resilience and optimism:
- Japan’s Nikkei 225: +0.3%
- South Korea’s Kospi: +1.8%
- Hong Kong’s Hang Seng: +0.3%
- Australia’s ASX 200: +0.1%
Morningstar strategist Kai Wang said markets appear to interpret the tariff extension as “posturing, not policy”—a sign that room for dialogue still exists.
Sector spotlight: Clean energy slides, tech rebounds
Pre-market movement highlighted tariff-sensitive sectors:
- First Solar (FSLR): -2%
- SolarEdge (SEDG): -4%
- Enphase Energy (ENPH): -4%
- Tesla (TSLA): +1.2% (after Monday’s -6% drop)
Investors rotated slightly back into large-cap tech, while clean energy stocks slipped following news that Trump’s new domestic policy bill will end key subsidies.
Key themes for July 8
- Tariff timeline: The executive order delays tariffs until August 1, but more letters may follow.
- Earnings season: Delta Airlines (DAL) reports Thursday, kicking off Q2 results.
- Fed watch: Minutes from the June Fed meeting drop Wednesday. No rate changes expected, but markets will parse the tone.
- Economic data today: NFIB small business optimism and NY Fed inflation expectations.
Oil dips as OPEC+ raises output
Crude prices fell in early Tuesday trading:
- WTI: $67.60 (-0.49%)
- Brent: $69.12 (-0.45%)
Oil markets are responding to both OPEC+’s unexpected supply boost and concerns over global demand tied to trade tensions. Analysts warn further weakness could follow if recession risks intensify.
Analyst outlook: Volatility or opportunity?
While some see risk, others suggest the current pullback could be a buying opportunity.
“It’s fluid. Any new tariff headline can reverse sentiment in minutes,” said Jim Baird, chief investment officer at Plante Moran. “But strong fundamentals are still in play.”
“Investors should expect more chop ahead of August 1,” noted Scott Wren of Wells Fargo. “We’re trimming overvalued positions, especially in small caps and consumer discretionary.”
Goldman Sachs, meanwhile, raised its S&P 500 year-end target to 6,600, citing resilient U.S. data and soft inflation.
Key takeaways
- U.S. stock futures are flat to modestly higher following Monday’s tariff-driven selloff
- Trump extended the tariff deadline to August 1, giving markets room—but not certainty
- Asian markets show cautious optimism
- Tech stocks recover; clean energy under pressure
- Fed minutes and Q2 earnings kick off later this week