US Stock Futures Slip Amid Tariff Concerns and Economic Uncertainty

U.S. stock index futures edged lower Monday evening as investors sought clarity on President Donald Trump’s tariff plans and the broader U.S. economic outlook. Futures reversed gains from a mildly positive Wall Street session, where tech and energy stocks offered some support despite trade tensions.

S&P 500 Futures dipped 0.1% to 5,940.25, Nasdaq 100 Futures fell 0.1% to 21,510.00, and Dow Jones Futures dropped 0.1% to 42,325.00. The pullback followed modest gains earlier in the day, driven by rising oil prices and strength in tech shares. The S&P 500 rose 0.4% to 5,935.94, the Nasdaq added 0.7% to 19,242.61, and the Dow inched up 0.1% to 42,305.48.

Markets remained tense after Trump announced plans to double tariffs on steel and aluminum imports to 50%, aiming to protect U.S. producers. While the move lifted shares of domestic metal companies, it raised fears of prolonged inflationary pressure. The announcement further strained U.S.-China relations, as Beijing denied breaching a mid-May trade deal and pledged to protect its interests.

Treasury Secretary Scott Bessent’s recent remarks that trade talks with China had stalled added to investor anxiety. Meanwhile, focus also turned to progress on Trump’s tax and spending bill, which he called the “largest spending cut in history.” However, concerns are mounting that the legislation could significantly expand the fiscal deficit and balloon federal debt.

Investors are now eyeing upcoming speeches from Federal Reserve officials and Friday’s nonfarm payrolls data for May. A dip in Treasury yields provided brief relief, but sentiment remains cautious amid a recent bond market selloff linked to high debt levels and policy uncertainty.