US equity futures are pointing sharply lower to start the week, with Asian markets broadly higher and European equities trading a weaker open. Markets are reacting to Friday’s Supreme Court ruling striking down the IEEPA tariffs, followed immediately by President Trump announcing a new global tariff rate of 10%, later raised to 15% under a different authority. The move has injected fresh uncertainty into the trade landscape, with expectations that the administration will pursue additional trade investigations to restore its effective tariff rate. Questions also remain around potential tariff refunds after the court offered no clear guidance. The ruling and subsequent policy shift come against a backdrop of mixed macro data, including softer flash PMIs, hotter-than-expected core PCE, and below-consensus fourth-quarter GDP. Fed commentary leaned hawkish, with officials highlighting upside inflation risks and signaling that further tightening could return to the table if price pressures reaccelerate. Geopolitical tensions remain elevated amid discussions of a potential limited US strike on Iran, though risk assets had largely shrugged off the headlines late last week.

Companies Mentioned: Netflix, TPG, KKR, Fortune Brands Innovations

US equity futures are pointing modestly higher, with Asian markets mixed and European equities trading firmer. US equities finished mostly lower on Thursday while energy stocks outperformed as crude extended gains, supported by escalating Middle East tensions and reports the US could act within days if negotiations with Iran fail. President Trump signaled a potential deal or alternative action within a ten-day window, keeping geopolitical risk in focus. Economic data surprised to the upside in labor and manufacturing, though housing remained soft, reinforcing the broader resilient macro narrative. Fed commentary highlighted firming goods inflation and debate around the pace of rate cuts, while investors also digested a heavy earnings slate and ongoing rotation beneath the surface.

Companies Mentioned: Nvidia, OpenAI, Amazon, CSX Corp

US equity futures are pointing modestly higher, with Asian markets broadly stronger and European equities trading lower. US equities finished higher on Wednesday, led by strength in big tech, high-beta names and most-shorted stocks, with memory, semis and software also rebounding. Treasury yields moved higher and the dollar strengthened following hawkish-leaning FOMC minutes, though markets continue to price in two additional rate hikes. Oil rallied sharply on concerns around potential US-Iran hostilities, supporting energy shares, while precious metals also advanced. Economic data came in broadly better than expected. Attention now turns to upcoming earnings, jobless claims, trade data and potential developments on tariffs.

Companies Mentioned: OpenAI, eBay, Etsy, Live Nation Entertainment

US equity futures are pointing modestly higher, with Asian markets firmer and European equities advancing. There was little change in the overarching narrative. Big tech was mixed, software resumed its pullback after a brief stabilization, and financials rebounded following recent weakness. The yield curve continued to flatten with a bearish tilt, while a firmer dollar weighed on precious metals. Corporate updates were largely underwhelming, though M&A and activist activity picked up. Fed commentary remained cautious, with officials signaling openness to rate cuts later this year but emphasizing the need for clearer evidence that inflation is returning to target.

Companies Mentioned: Ovintiv, Riot Platforms, Live Nation Entertainment

US equity futures are under pressure following a mostly higher Friday close, with Asian markets mixed in holiday-thinned trade and European equities trading modestly firmer. Markets continue to rotate beneath the surface. The broadening-out trade remains intact, supported by cooler headline inflation and a rate rally, though AI-related concentration risk and scrutiny around large-cap tech valuations remain an overhang. Investors are balancing softer consumer data against still-solid labor conditions and stable earnings trends, while positioning and sentiment appear less stretched than earlier in the year. Attention now shifts to the upcoming batch of economic releases and policy signals, with inflation trends and Fed communication remaining central to the outlook.

Companies Mentioned: Masimo, Danaher, Norwegian Cruise Line, Tesla

US equity futures are pointing modestly lower, with Asian markets sharply weaker and European equities trading mixed. AI-related disruption fears remained the dominant market theme. Investors rotated further into defensive sectors as volatility picked up and the VIX moved above 20. Economic data showed weekly jobless claims broadly in line, continuing claims slightly higher, and existing home sales falling sharply month over month despite some improvement in affordability. Treasury auctions drew strong demand at the long end following earlier mixed results. Market attention now turns to January CPI, with expectations centered on a modest monthly increase in both headline and core inflation. Market has pared back Fed rate cut expectations to July move versus June.

Companies Mentioned: Humana, Sumitomo Forestry, Tri Pointe Homes, OpenAI, DeepSeek