Traders work on the floor of the New York Stock Exchange (NYSE) in New York City.
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U.S. stock futures trading was lower Monday night as investors looked at the critical inflation reports that will be dealt with later this week.
Dow Jones Industrial Average Futures Slide 55 points, or 0.1%. Futures and S&P 500 and Nasdaq 100 Futures Each decline was about 0.2%.
At the main trading conference on Monday, Nasdaq Composite Materials Nearly 1% were obtained. Chip manufacturers, e.g. Nvidia and Micron technology Pop up 2.9% and 3.9% while other large technology names, e.g. letter and Microsoft It was also very active that day.
President Donald Trump Signed one on Monday night 25% tariff on steel imports. He also raised the tariffs on aluminum from 10% to 25%. He announced plans to perform his duties on Sunday, sparking a rally among steel producers in Monday’s deal, and Cleveland Cliffs Leaping nearly 18%, nucor Pop up more than 5%.
Those responsibilities are coming as traders look forward to two key inflation reports to be on this week. The Consumer Price Index reading for January was released Wednesday and the Manufacturer Price Index will be released Thursday.
Sam Stovall, chief investment strategist at CFRA Research, said the real economic impact of tariffs will only be seen in future inflation data.
“If the tariffs take effect for some time, supply chain disruptions and lead to an increase in inflation, then I would say investors would be worried,” Stowal said.
“But now – especially with the CPI figures on Wednesday, PPI is expected to show a year-on-year decline in title and core readings on Thursday – will eventually provide support under the market and allow it to continue to crawl higher,” Stovall added.
In addition to economic reports, traders are still watching Fed Chair Jerome Powellwho will speak before Congress on Tuesday morning.
