Dow Jones Futures attempt to recover losses as Trump delays tariff implementation
Dow Jones Futures move sideways ahead of the opening on Tuesday, trading around 44,680, up by 0.01%. Meanwhile, S&P 500 Futures were up 0.08% at around 6,280, recovering some of the previous session’s losses. Nasdaq 100 Futures led the gains, rising 0.28% to trade near 22,950 during the European hours.
US stock index futures stabilize after US President Donald Trump delayed the implementation of new tariffs from July to August 1, giving negotiators more time to reach agreements. He added, "I would say firm, but not 100% firm. If they call up and they say we'd like to do something a different way, we're going to be open to that." However, US stock futures are poised to face challenges as President Trump’s announcement of updated tariff rates on 14 countries that have yet to secure trade deals with Washington.
Trump renewed his threat of a 25% tax on imports from Japan and South Korea and shared a batch of other letters to world leaders warning of levies from 1 August. Trump also imposed 25% rates on Malaysia, Kazakhstan and Tunisia, while South Africa would see a 30% tariff and Laos and Myanmar would face a 40% levy. Other nations hit with levies included Indonesia with a 32% rate, Bangladesh with 35%, and Thailand and Cambodia with duties of 36%.
The US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is retracing its recent gains from the previous session and trading around 97.20 at the time of writing. The Greenback faces challenges as market caution eases on delaying of implementation of Trump tariffs.
Source: FXstreet
