Stock Market News: Dow Set to Open Down Amid Fresh Trump Tariff Threats
S&P 500 and Nasdaq futures are also falling in premarket trading Monday.
U.S. stock futures were pointing to small losses on the first trading day of December. After a strong November, talk of tariffs is likely to be in focus ahead of key jobs data later in the week.
Dow Jones Industrial Average futures were down 66 points, or 0.2%. S&P 500 futures were dropping 0.2% and Nasdaq 100 futures were also falling 0.2%.
Over the weekend, President-elect Donald Trump posted on social media that he will "require a commitment" from the BRICS nations –which include China, Russia, Brazil, India, and South Africa among others– that "they will neither create a new BRICS currency, nor back any other currency to replace the mighty U.S. Dollar..." or face 100% tariffs.
“It seems to further point to Dollar strength being a theme of the new administration as against Trump 1.0 where initially they tried to talk the Dollar down,” wrote Deutsche Bank analyst Jim Reid in a research note.
The U.S. Dollar Index was up 0.5% early on Monday, as the dollar strengthened against most G-10 and Asian currencies.
The highlight of the week’s economic data will be the November jobs report on Friday. Ahead of that, investors will get more information from job openings and labor turnover data from the Bureau of Labor Statistics on Tuesday, followed by the ADP’s report on November private-sector employment on Wednesday.
The yield on the benchmark 10-year Treasury note stood at 4.206% early on Monday, ticking up from the previous week.
S&P 500 and Nasdaq futures are also falling in premarket trading Monday.
U.S. stock futures were pointing to small losses on the first trading day of December. After a strong November, talk of tariffs is likely to be in focus ahead of key jobs data later in the week.
Dow Jones Industrial Average futures were down 66 points, or 0.2%. S&P 500 futures were dropping 0.2% and Nasdaq 100 futures were also falling 0.2%.
Over the weekend, President-elect Donald Trump posted on social media that he will "require a commitment" from the BRICS nations –which include China, Russia, Brazil, India, and South Africa among others– that "they will neither create a new BRICS currency, nor back any other currency to replace the mighty U.S. Dollar..." or face 100% tariffs.
“It seems to further point to Dollar strength being a theme of the new administration as against Trump 1.0 where initially they tried to talk the Dollar down,” wrote Deutsche Bank analyst Jim Reid in a research note.
The U.S. Dollar Index was up 0.5% early on Monday, as the dollar strengthened against most G-10 and Asian currencies.
The highlight of the week’s economic data will be the November jobs report on Friday. Ahead of that, investors will get more information from job openings and labor turnover data from the Bureau of Labor Statistics on Tuesday, followed by the ADP’s report on November private-sector employment on Wednesday.
The yield on the benchmark 10-year Treasury note stood at 4.206% early on Monday, ticking up from the previous week.