Stock market today: Dow, S&P 500, Nasdaq futures retreat amid report Trump could tap emergency powers for tariffs
Published On Jan 8, 2025, 7:58 AM
The US stock market is seeing a decline in futures for the Dow, S&P 500, and Nasdaq amid reports that President-elect Donald Trump may invoke emergency powers to impose tariffs. This news is causing investors to be cautious as they prepare for possible economic changes under Trump's administration. Concurrently, the 10-year Treasury yield has risen, indicating higher interest rates which could affect stocks. Investors are closely monitoring job data and Federal Reserve minutes expected later today which could influence market expectations regarding interest rate adjustments.
Stock Forecasts
SPY
Negative
The uncertainty surrounding potential tariffs could negatively impact market sentiment, especially within trade-sensitive sectors. Tariffs often lead to increased costs for companies and can hinder economic growth, making this a situation to watch for volatility and potential downturns in the market.
NVDA
Negative
Tech stocks may see a mixed response, particularly companies like Nvidia that have recently faced significant losses and market corrections. Any expectations of slower economic growth as a result of tariff implementations could weigh heavily on tech valuations, affecting investor confidence.
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