U.S. stocks appear set for a cautious opening on Monday as investors adopt a wait-and-watch approach after President Donald Trump’s July 9 tariff deadline was pushed back to August 1.
Treasury Secretary Scott Bessent, as well as Commerce Secretary Howard Lutnick, have both implied that the looming deadline could be pushed forward, potentially offering a reprieve to nations that are yet to finalize bilateral trade deals with the U.S.
While Dow Jones futures edged lower by 0.06% at the time of writing, the S&P 500 futures were down 0.3%, and the tech-heavy Nasdaq 100’s futures fell 0.45%. Futures of the Russell 2000 index declined 0.41%.
Meanwhile, the SPDR S&P 500 ETF Trust (SPY) fell 0.23%, while Invesco QQQ Trust (QQQ) was down 0.35% on Monday morning. Retail sentiment around the S&P 500 ETF on Stocktwits has been in the ‘bullish’ territory over the past week.
Asian markets ended Monday’s trading session on a mixed note, with the KOSPI leading with gains of 0.17%, followed by the Shanghai Composite at 0.02%.
The Nikkei 225 index fell 0.56%, followed by a 0.53% decline in the TWSE Capitalization Weighted Stock index. The Hang Seng index fell 0.12%.
Stocks To Watch
- Tesla Inc. (TSLA): Tesla shares fell over 6% in Monday’s pre-market trading session after the company’s CEO Elon Musk announced his re-entry into U.S. politics with the formation of the America Party.
- Shell Plc. (SHEL): Shell’s shares fell nearly 3% pre-market after the company warned of profitability taking a hit due to volatility.
- Apple Inc. (AAPL): In good news for Apple, the company’s iPhone sales in China grew in the June quarter, marking the first uptick over the past two years.
- Oracle Corp. (ORCL): The company slashed prices of its database and cloud-computing software for the U.S. government.
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