Elaine Kaltenbach and Matt Ott, business writer for the Associated Press
Wall Street is pointed lower before bells opened with new tariffs announced in Europe and Mexico, and before this week’s unofficial revenue season begins.
The S&P 500 futures, the Dow Jones Industrial Average and the Nasdaq futures each retreated about 0.3% early on Monday.
It was a weekend announcement that he plans to tariffs on 30% of goods from Mexico and the European Union, as analysts said they hope for progress towards trade transactions by the deadline next month.
The EU is America’s largest business partner and the world’s largest trading bloc. The US decision will affect governments, businesses and consumers on both sides of the Atlantic.
Tariffs can make everything from French cheese to German electronics more expensive in the US, while keeping the economy unstable from Portugal to Norway.
The European market has responded negatively, with Germany’s DAX dropping to 1% and Paris’ CAC 40 flowing at 0.5%. The UK’s FTSE 100 (not an EU member, but already negotiating a trade agreement with the US) rose 0.4%.
The Trump administration initially set a deal with the United States on Wednesday or as a deadline for countries facing a massive rise in tariffs. However, only two trade transactions have been announced since April, and the negotiation window has been extended until August 1st.
In a few hours, part of the market’s focus will be directed at banks. JPMorgan Chase, Wells Fargo and Citigroup are among the largest US banks to report results on Tuesday.
Kamboo’s shares jumped nearly 6% ahead of the opening bell on Monday after Johnson & Johnson’s former division said CEO Thibaut Mongong had resigned. Kenvue, the manufacturer of the Listerine and Band-Aid brands, continues its strategic review of the company after splitting its consumer health sector from its pharmaceutical and medical devices sectors in 2021.
Bitcoin rose 3.6% early on Monday, from 3.6%, according to Coindesk.
Bitcoin prices jump amid bullish momentum across risky assets, coinciding with Congress’ Cryptocurrency Week, which begins Monday. Lawmakers discuss a set of bills that can define industry regulatory frameworks.
Chinese stocks have moved after the government reported that exports rose last month, prompting a surge in orders ahead of the deadline to reach a new trade deal with Washington.
Elsewhere, Hong Kong’s Hangsen scored 24,091.45 from 0.3%, while Shanghai’s composite index also rose 0.3% to 3,519.65.
Tokyo’s Nikkei 225 index slipped to 0.3% to 39,459.62, while Korean Cospi jumped to 0.8% to 3,202.03.
In Australia, the S&P/ASX 200 was 0.1% lower to 8,570.40.
Taiwan’s benchmark lost 0.6%.
In the energy market, US benchmark crude oil scored between $1.05 and $69.50 per barrel, approaching the $70 level for the first time since its two-day defeat in late June. International standard Brent crude oil increased by $1.03 at $71.39 per barrel.
The dollars were chopped from 147.38 yen to 147.45 days. The euro fell modestly to $1.1690 from $1.1692.
Original issue: July 14th, 2025, 8:37am EDT
