Investing.com – U.S. Futures pointed to a flat opening bell on Monday after a tariff announcement from U.S. President Donald Trump sparked fears of a trade war.
The S&P 500 futures fell five points or 0.20% to 2,685.0 as of 6:53 AM ET (11:53 GMT) while Dow futures decreased 46 points or 0.19% to 24,488.0. Meanwhile tech heavy Nasdaq 100 futures was up nine points or 0.13% to 6,813.75.
Markets have been in turmoil since last week, amid political and inflation uncertainty.
Last week Trump announced that the United States would impose 25% import tariffs on steel and 10% tarffits on aluminum, raising concern about higher prices and a trade war. The announcement was widely criticised by leaders and investors fear retaliatory moves from major trade partners such as China, Europe and neighboring Canada.
Netflix (NASDAQ:NFLX) was among the biggest gainers in pre-market trading, rising 0.75% while Chinese e-commerce firm Alibaba (NYSE:BABA) inched up 0.14% and XL Group Ltd (NYSE:XL) surged 30.48%.
Elsewhere chipmaker Qualcomm (NASDAQ:QCOM) lost 3.83% after U.S. officials asked the firm to delay its shareholder meeting for a month to investigate if a takeover by Singapore-based Broadcom (NASDAQ:AVGO) would present a security risk.
Meanwhile Snap Inc (NYSE:SNAP) fell 0.06% while Apple (NASDAQ:AAPL) decreased 0.02% and carmaker Fiat Chrysler Automobiles NV (NYSE:FCAU) was down 1.62%.
In economic data, the services purchasing managers' index is due out at 9:45 AM ET (14:45 GMT), followed by the non-manufacturing ISM report on business at 10:00 AM ET (15:00 GMT).
In Europe stocks were up. Germany’s DAX rose 93 points or 0.78% while in France the CAC 40 increased 14 points or 0.28% and in London, the FTSE 100 was up 17 points or 0.25%. Meanwhile the pan-European Euro Stoxx 50 gained 14 points or 0.43% while Spain’s IBEX 35 jumped 49 points or 0.49%.
In commodities, gold futures were up 0.19% to $1,325.90 a troy ounce while crude oil futures rose 0.26% to $61.41 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, inched up 0.06% to 90.00.