While Dow Jones futures were down 0.73% at the time of writing, the S&P 500 futures were down 0.7%.
U.S. stocks appear set for a negative opening on Friday after President Donald Trump hit Canada with 35% tariffs, continuing to amp up the tariff war that he reignited this week with letters to 14 countries.
President Trump has now sent out tariff letters to 24 countries this week so far – this includes Japan, South Korea, the Philippines, Brunei, Moldova, Algeria, Iraq, Libya, Sri Lanka, Brazil, and Canada.
While Dow Jones futures were down 0.73% at the time of writing, the S&P 500 futures were down 0.7%, and the tech-heavy Nasdaq 100’s futures fell 0.63%. Futures of the Russell 2000 index tumbled 1.13%.
Meanwhile, the SPDR S&P 500 ETF Trust (SPY) was down 0.62% at the time of writing, while Invesco QQQ Trust (QQQ) fell 0.56% on Friday morning. Retail sentiment around the S&P 500 ETF on Stocktwits has been in the ‘extremely bullish’ territory over the past week.
Asian markets ended Friday’s trading session on a mixed note, with the Hang Seng index leading with gains of 0.46%, followed by the TWSE Capitalization Weighted Stock index at 0.25%, while the Shanghai Composite edged up by 0.01%.
The KOSPI declined 0.23%, followed by the Nikkei 225 with a 0.19% fall.
Stocks To Watch
- Strategy Inc. (MSTR), Coinbase Global Inc. (COIN): Strategy and Coinbase stocks will be in focus on Friday after Bitcoin witnessed a massive rally on Thursday, setting a new all-time high.
- BP Plc. (BP): BP shares surged over 1.8% in Friday’s pre-market trading session despite the company projecting a $1.5 billion impairment charge, and a hit to its quarterly earnings due to lower oil prices.
- Levi Strauss & Co. (LEVI): Levi Strauss’ shares surged over 6% in Friday’s pre-market trading session after its second-quarter earnings beat Wall Street expectations. The denim brand raised its full-year outlook, citing strong consumer trends.
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