US stock market futures dip as Dow, S&P 500, Nasdaq weigh Trump's tariff shock against Nvidia's $4T rally
US stock market today opened slightly lower as Dow, S&P 500, and Nasdaq futures paused after a powerful tech rally led by Nvidia, which just hit a historic $4 trillion market value. Meanwhile, President Trump's new tariff threats—including a proposed 50% import tax on Brazil and extra tariffs on BRICS nations—are now in focus. As Wall Street prepares for Q2 earnings with Delta Airlines reporting first, investors are balancing excitement around AI stocks with global trade uncertainty. The Nasdaq hit a record high, but attention now turns to jobless claims and the Federal Reserve's next move on interest rates.
TIMESOFINDIA.COM Wall Street hit the pause button early Thursday as investors tried to digest two powerful, opposing forces—Donald Trump's aggressive new tariff threats and Nvidia's record-breaking market surge. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures all edged lower in premarket trading, signaling a cautious open as the market weighs trade policy shocks against tech-driven optimism. US stock market today: Dow, S&P 500, Nasdaq futures pause as Trump tariff threats and Nvidia rally split investor focus- US stock market today opened cautiously as futures for the Dow Jones, S&P 500, and Nasdaq took a breather following a tech-driven rally led by Nvidia's historic $4 trillion milestone. Meanwhile, investors remain alert after fresh tariff threats from President Trump, who warned of sweeping trade penalties starting August 1. With earnings season kicking off and AI enthusiasm growing, Wall Street is juggling multiple signals heading into Thursday's session.
Dow futures : -0.2%
: -0.2% S&P 500 futures : -0.2%
: -0.2% Nasdaq futures: -0.1% While all three indices closed higher on Wednesday—powered by Nvidia, Microsoft, and other tech giants—Thursday morning brought a more muted tone as markets seek clarity on policy direction. President Trump's latest tariff threats are shaking investor confidence. On Wednesday night, the administration proposed: A 50% tariff on copper imports starting August 1
Possible 200% duties on Brazilian pharmaceuticals
Broader trade crackdowns involving the EU and India These fresh trade tensions are sparking worries about global supply chains and commodity inflation, especially in key industrial sectors like mining and energy. At the same time, Nvidia (NVDA) crossed a historic milestone, briefly touching a $4 trillion market cap, leading a mega-cap tech rally that helped the Nasdaq hit all-time highs. Several individual names are making big waves this morning:
Delta Air Lines (DAL) : Surged 13% premarket after upbeat Q2 earnings and full-year guidance reaffirmation.
: Surged after upbeat Q2 earnings and full-year guidance reaffirmation. MP Materials (MP) : Soared 41% following a Department of Defense deal to strengthen the U.S. rare-earth supply chain.
: Soared following a Department of Defense deal to strengthen the U.S. rare-earth supply chain. WK Kellogg (KLG) : Rocketed 55% on reports of a potential $3 billion buyout by Ferrero.
: Rocketed on reports of a potential $3 billion buyout by Ferrero. Freeport-McMoRan (FCX) and Southern Copper (SCCO) : Gained 2–3% on copper tariff optimism.
and : Gained 2–3% on copper tariff optimism. Nurix Therapeutics (NRIX) : Up 17% after reporting blowout fiscal Q2 revenue of $44 million—well ahead of expectations.
: Up after reporting blowout fiscal Q2 revenue of $44 million—well ahead of expectations. Costco (COST) : Rose on strong June sales, with e-commerce up 11.5% year-over-year.
: Rose on strong June sales, with year-over-year. AES Corp (AES) and Bloom Energy (BE): Posted double-digit gains, up 19.8% and 18.2% respectively. Bitcoin (BTC) : Holding steady around $111,095 , up slightly on the day.
: Holding steady around , up slightly on the day. Gold futures : Climbing to $3,335.80 per ounce , up 0.45% as investors seek safety amid tariff threats.
: Climbing to , up as investors seek safety amid tariff threats. WTI Crude Oil : Trading at $66.82 per barrel , down 0.22% .
: Trading at , down . Copper: In focus, as mining stocks rally on new U.S. tariffs aimed at reshaping the global metals trade.
The US stock market today is showing signs of hesitation after a strong rally, with major futures slipping slightly in early trading. As of Thursday morning, Dow Jones Industrial Average futures (YM=F) were down 0.2%, S&P 500 futures (ES=F) edged 0.1% lower, while Nasdaq 100 futures (NQ=F) remained nearly flat. The pause comes after Wednesday's strong tech-led momentum, where Nvidia (NVDA) closed at an all-time high and became the first public company to surpass a $4 trillion market cap. Nvidia shares rose nearly 2% during the last session and gained again in Thursday's premarket, signaling continued investor enthusiasm around AI stocks. But the rally is now brushing up against renewed trade uncertainty, with President Trump's aggressive tariff threats back in focus. Current Level : Around 44,631
: Around 44,631 Change : Approximately +0.13%
: Approximately +0.13% Day's Range : Between 44,565 and 44,702
: Between 44,565 and 44,702 52‑Week Range : 36,708 to 45,270
: 36,708 to 45,270 Volume : Around 6,500 contracts
: Around 6,500 contracts Open Interest: Around 85,000 contracts Current Level : Slightly lower today
: Slightly lower today Performance Change : –0.12%
: –0.12% Daily Movement: Down about 5 points (~–0.08%) Current Level : Around 23,006
: Around 23,006 Change : –46.25 points or –0.20%
: –46.25 points or –0.20% Day's Range : Between 22,976.5 and 23,050.25
: Between 22,976.5 and 23,050.25 52‑Week Range : 16,460 to 23,112
: 16,460 to 23,112 Volume : About 42,000 contracts
: About 42,000 contracts 1‑Day Change : +0.32%
: +0.32% Year-to-Date Return: +8.44% Dow futures are showing a minor dip, reflecting cautious sentiment following a strong tech-driven rally.
are showing a minor dip, reflecting cautious sentiment following a strong tech-driven rally. S&P 500 futures are slightly down as markets assess upcoming economic data and policy signals.
are slightly down as markets assess upcoming economic data and policy signals. Nasdaq futures are cooling off after recent highs, reflecting some profit-taking in tech stocks despite continued AI enthusiasm.
Late Wednesday, President Donald Trump—not former, but currently serving—issued his strongest tariff warning to date. He announced 50% tariffs on Brazilian imports, citing political tensions involving Brazil's ex-president Jair Bolsonaro, who faces trial over alleged election-related offenses. That move is part of a broader pattern this week. Trump has sent 22 letters to global leaders, detailing new tariffs set to take effect on August 1. The president's list includes countries like Brazil, India, the European Union, and Canada, with a sharper tone toward BRICS members, where he's proposed an additional 10% tariff. Despite these warnings, market sentiment hasn't entirely soured. Investors are waiting to see if Trump's comments signal a hard shift in trade strategy or a push toward negotiating better deals. A potential trade agreement with India was reportedly close, but now appears to be on shakier ground. Yes—AI momentum remains a key force behind the tech rally. On Wednesday, the Nasdaq Composite (^IXIC) set another record close, powered largely by Nvidia's strong performance. The chipmaker's success has become symbolic of the larger AI investment boom, which continues to attract bullish sentiment. Despite geopolitical risks and trade threats, AI-related stocks—especially semiconductors and cloud computing—have maintained upward pressure on indexes. Nvidia's role is central, especially after becoming the world's most valuable public company. Its stock is already moving higher in premarket, hinting at more gains if macro conditions allow. While much of the market's attention is on tariffs and AI stocks, other important triggers are also in play. Delta Airlines (DAL) is set to kick off Q2 earnings season with its report due Thursday. Last quarter, Delta withdrew its guidance, citing trade uncertainties following earlier Trump announcements. Investors will be closely watching to see if that position has shifted. Meanwhile, weekly jobless claims data is expected today. This is one of the few economic reports due this week and could influence rate-cut expectations. According to Federal Reserve minutes released Wednesday, most Fed officials are hesitant to begin rate cuts in July. That caution means every bit of economic data—especially labor market indicators—can sway the market outlook. So far, the market hasn't shown signs of panic. Even with Trump's escalating tariff plans, including tariffs on major trade partners and BRICS nations, the investor mood has been surprisingly resilient. That's largely because AI optimism and strong corporate earnings continue to support equities. However, if Trump's tariff actions are implemented without any softening or negotiation, markets could face turbulence, particularly in sectors like manufacturing, agriculture, and transport. For now, Wall Street seems to be taking a 'wait and see' approach as it balances tech optimism against trade risks. Index Current Level Change Day's Range 52-Week Range Volume Open Interest YTD Return E-mini Dow Jones (YM=F) 44,631 +0.13% 44,565 – 44,702 36,708 – 45,270 ~6,500 ~85,000 — E-mini S&P 500 (ES=F) Slightly lower –0.12% — — — — — E-mini Nasdaq 100 (NQ=F) 23,006 –0.20% (–46.25 pts) 22,976.5 – 23,050.25 16,460 – 23,112 ~42,000 — +8.44% The US stock market today is facing a rare dual spotlight—on one side, Nvidia's record-breaking rally has electrified tech investors, and on the other, President Trump's renewed global tariff threats are stirring uncertainty. While futures are slightly down, underlying bullish sentiment around AI, earnings season, and possible rate cuts keeps optimism afloat for now. Investors are bracing for a fresh batch of economic data today, including: Weekly jobless claims : A key signal of labor market strength
: A key signal of labor market strength Fed speakers : Insights from Christopher Waller and Mary Daly could guide expectations around future interest rate cuts
: Insights from and could guide expectations around future interest rate cuts Trade headlines: Markets are watching for any movement in negotiations with Europe, India, or Brazil The Federal Reserve's June meeting minutes, released Wednesday, showed that most officials want to hold off on rate cuts until inflation is clearly under control—dampening hopes for a July move, though markets still eye a potential cut in September. Q1: Why did US stock market today open lower? Due to Trump's new tariff threats and Nvidia-driven tech rally pausing.
Q2: What made Nvidia reach a $4 trillion market value? AI demand and strong investor confidence pushed Nvidia's stock to new highs.
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