U.S. Stock Futures Drop Slightly After Nvidia Leads Rally and Trump Imposes Tariffs

Economy
MARKET_WATCH

U.S. stock index futures softened Thursday morning after a sharp rise in markets the previous day fueled by Nvidia’s milestone and fresh tariff announcements from former President Donald Trump.

Nvidia’s $4 Trillion Valuation Sets Tone

Wednesday saw the Nasdaq Composite close at a record high, propelled by Nvidia briefly reaching a $4 trillion market capitalization—the first company ever to do so—before pulling back slightlyInvestopedia+14Investing.com+14Investing.com+14Investing.com+2Reuters+2Investing.com+2. This surge helped boost all major U.S. equity benchmarks and reinforced enthusiasm around artificial intelligence and semiconductor stocks .

Tariff Shock: Copper and Brazil Targeted

Despite the optimism, markets tread cautiously amid growing trade tensions. Trump announced 50% tariffs on imported copper and Brazilian goods, effective August 1 Investing.com+9Investors+9Investopedia+9. Stocks of Brazilian companies listed in the U.S., such as Petrobras and Banco Santander, slipped in premarket tradingInvesting.com+1Reuters+1. Investors noted that while these measures could stoke inflation, they see the potential for tariffs to be reversed or modified .

 

Jobs Data and Fed Monitor on the Horizon

Adding to the day’s economic backdrop, markets await weekly U.S. jobless claims data, which came in lower than expected—227,000 claims versus a forecast of 238,000 Investors. This signals continued labor market resilience and could weigh on expectations for near-term interest rate cuts. However, Federal Reserve minutes from mid-June suggest rate adjustments may occur later this year Reuters+3Investing.com+3Reuters+3.

 

Market Snapshot

Dow futures dropped roughly 0.15–0.2%, while S&P 500 and Nasdaq 100 futures dipped around 0.1%Reuters+5Investing.com+5Investors+5.

Treasury yields climbed, with the 10‑year note reaching approximately 4.35% Investors+1Investing.com+1.

Oil prices eased to about $67‑$69 per barrel amid trade concerns and robust gasoline demand Investing.com.

 

What Investors Are Watching

Traders are tracking next week’s Fed commentary on interest rates and economic indicators, while keeping a close eye on developments in trade relations, including potential deals with India and the European UnionReuters+5Reuters+5Reuters+5.

 

Bottom Line

Markets are navigating a delicate balance: on one side, Nvidia’s AI-driven performance continues to power equities, while on the other, escalating trade tensions and inflationary pressures keep volatility in play. Labor market strength and future Fed decisions will be key drivers in determining whether optimism holds or falters amid geopolitical headwinds.

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