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Here are three stories investors are watching on Tuesday.
Stock futures (ES=F, NQ=F, YM=F) are trading lower to start the second quarter as President Trump prepares to announce more tariffs on Wednesday.
Also in focus is economic data, with ISM manufacturing and JOLTS data set to be released later this morning.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
Let's get you the three things that you need to know today. First up, US stock futures are falling this morning as investors kick off second quarter trading with tariff headwinds front and center. The start of the second quarter coming after a volatile start to the year for the markets. The tech heavy Nasdaq 100 down 8% in its worst quarter since 2022. Meanwhile, the magnificent 7 group extended its quarterly route to 16% amid lingering concerns about an AI bubble. And for the first time since the onset of the pandemic in March of 2020, bonds rose and stocks fell in a three month period.
And President Trump settling in on his tariff plans but saying he won't reveal them yet. According to reports, Trump's team has pitched him on several ideas of how to tariff other countries including a 20% global tariff on virtually all imports. Meantime, the European Union is preparing to retaliate against the US if the President imposes reciprocal tariffs on the block. EU Chief Ursula von der Leyen saying the EU has a quote strong plan to hit back if needed.
And we'll get a fresh read on the health of the economy this morning with job openings data and the latest ISM manufacturing survey. The manufacturing sector may show renewed weakness once tariff front running is done. Meanwhile, job openings likely ticked up in February, a sign that labor demand is holding steady.
