Dow Futures Decline As Trump’s Tariffs Cloud Earnings Season: Tech Bull Says ‘White House Needs Trade Deals Done Quick’

U.S. stocks were set for a negative opening on Monday as Trump’s tariffs cast a shadow on the first-quarter earnings season that is set to gather steam this week, with Big Tech giants like Tesla Inc., Alphabet Inc., and others set to report their results.

The Dow Jones futures were down 0.9% at the time of writing, while the S&P 500 and the Nasdaq 100 futures declined nearly 1.1%. Futures of the Russell 2000 index slid almost 1%.

Meanwhile, the SPDR S&P 500 ETF Trust (SPY) was up 0.14% in Monday’s pre-market session, while Invesco QQQ Trust (QQQ) declined 0.02%.

Bitcoin (BTC) rose by 3.45% in the past 24 hours.

Asian markets ended Monday's trading session on a mixed note. The Shanghai Composite index gained the most, at 0.50%, followed by the KOSPI, which gained 0.12%.

However, the TWSE Capitalization Weighted Stock Index fell 1.5%, while the Nikkei 225 declined 1.3%.

U.S. markets ended Thursday on a mixed note. The Dow Jones index slid 1.33%, while the S&P 500 and Nasdaq 100 indices edged up 0.1% each.

Tech Bull Says Clock ‘Ticking’ On Trade Deals

Tech bull Dan Ives of Wedbush said in a new note that the clock is “ticking” on trade deals as the earnings season gathers steam.

"The White House needs trade deals done quick with a negotiation path established with China. Otherwise, the markets, 10-year yield, USD, Gold, and the economy will head down their own divergent paths over the coming weeks and months ahead," said Ives.

Elon Musk-led Tesla, Google-parent Alphabet, Lockheed Martin, Verizon, Boeing, AT&T Inc., and Texas Instruments are among the major companies scheduled to report their quarterly results this week.

President Donald Trump is reportedly studying whether to fire the U.S. Federal Reserve chair Jerome Powell, said White House economic adviser Kevin Hassett, according to a report by CNBC.

This comes after President Trump berated Powell in a post on his social media platform, Truth Social, calling him “too late and wrong” on rates.

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Also See: Multiple Boeing Planes Reportedly Sent Back To Seattle From China Amid Escalating Trade War, But Retail’s Bullish

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