US pre-open: Futures in the red ahead of 'Liberation Day' tariff announcement
By Iain Gilbert
Date: Wednesday 02 Apr 2025
(Sharecast News) - Wall Street futures were in the red ahead of the bell as investors patiently awaited Donald Trump's so-called 'Liberation Day' tariff announcements.
As of 1145 BST, Dow Jones futures were down 0.36%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.42% and 0.54% weaker, respectively.
The Dow closed just 11.80 points lower on Tuesday, doing little to impact gains recorded in the previous session.
Today's primary focus will undoubtedly be Donald Trump's long-awaited tariff announcement at 2100 BST, with his "reciprocal tariffs" said to hit "all countries" be "effective immediately".
Treasury Secretary Scott Bessent said on Tuesday that the new duties would act as a "cap" and that the US would give other nations the chance to take certain steps to lower the tariffs. According to The Washington Post, the White House was said to also be mulling over the idea of slapping levies of roughly 20% on most imports coming into the US.
Ahead of the announcement, the yield on the benchmark 10-year Treasury note was up more than two basis points at 4.176% prior to the open, while its two-year counterpart was also up over two-basis points at 3.883%.
On the macro front, mortgage application data from the Mortgage Bankers' Association will be out at 1200 BST, while ADP employment change figures and February factory order numbers will follow at 1315 BST and 1500 BST, respectively.
Reporting by Iain Gilbert at Sharecast.com
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