In This Article:
US stock futures (ES=F, NQ=F, YM=F) sink Friday morning after President Trump is now threatening a 50% tariff against EU countries.
Both shares of retailer Ross Stores (ROST) and shoe brand Deckers Outdoor (DECK) are falling in pre-market trading.
Nvidia (NVDA) is set to report its first quarter earnings on Wednesday, May 28. Catch Yahoo Finance's coverage of how the chip stock historically reacts to earnings and the areas that mattered the most for the semiconductor giant.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
Welcome to Yahoo! Finance's flagship show, The Morning Brief. I'm Brad Smith alongside Madison Mills. Let's get to the three things that you need to know today.
First up, U.S. stock futures sinking this morning as President Trump reignites trade fears on Wall Street. The President threatening a 50% tariff on the European Union as he says trade negotiations are heading nowhere. The President also targeting Apple with a 25% tariff of at least 25% if it does not manufacture its phones in the United States.
Plus, retailers taking a hit this morning as Deckers, the parent company of UGG and Hoka plunges after declining to provide full year guidance amid macro uncertainty here. Meanwhile, Ross Stores sinking after the retailer's second quarter EPS missed estimates. The company also withdrew its full year sales and earnings guidance citing heightened macroeconomic and geopolitical uncertainty.
And investors gearing up for the final MAG 7 stock to report earnings and video results due out next week with all eyes on the chip giant. The company is expected to deliver another strong quarter, but investors will focus on commentary regarding sales to China, the macro and tariff backdrop, and any visibility into the second of the year. Yahoo! Finance will bring you full coverage of Nvidia ahead of those results.