US Equity Futures Lower as Traders Assess Rising Oil, Canadian Retaliatory Tariffs

MT Newswires Live09-08 19:59

US equity futures were lower pre-bell Tuesday, coming off a three-day weekend as traders assessed rising oil prices and Canada's retaliatory tariffs against the US.

Dow Jones Industrial Average futures were 0.8% lower, S&P 500 futures were down 0.3%, and Nasdaq futures were off 0.1%.

Canadian tariffs, which were announced after trade talks with the US collapsed last month, took effect on Tuesday and range from 15% to 50%, impacting hundreds of US products, including dairy, agricultural equipment, paper, household appliances and electronics.

US President Donald Trump, in a Monday post on Truth Social, called for a boycott of Canadian aerospace manufacturer Bombardier, saying "If they want our Market, they must build here, and stop treating America like a 'piggybank'". In response, the company told CNBC that its workers are based all over the US, with sites in 10 states, while its aircraft are constructed using US-made components.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.8% at $98.73 per barrel and US West Texas Intermediate crude 2.7% higher at $93.91 per barrel.

The National Federation of Independent Business' monthly Small Business Optimism Index fell to a reading of 98.7 in August from 99.8 in July.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment