The Market Brief
Hey team. U.S. futures contracts gained during overnight trade, signaling a rebound from Friday’s sharp losses.
Let’s see what’s ahead for the markets!
Macro Viewpoint
U.S. stock index futures edged higher on Monday, rebounding from losses in the previous session, with steelmakers leading the gains following an announcement from President Donald Trump about new tariffs on steel and aluminum imports.
Trump escalated trade tensions on Sunday, stating that he would impose an additional 25% tariff on all steel and aluminum imports into the U.S., adding to the existing duties on these metals.
He also indicated plans to introduce reciprocal tariffs on all countries, expected to be announced on Tuesday or Wednesday, which would take effect almost immediately and match the tariffs imposed by each respective nation.
Meanwhile, expectations that the Federal Reserve will keep interest rates unchanged in March strengthened after Friday’s mixed U.S. employment report, which showed a 4.0% unemployment rate.
This could give the central bank reason to delay any rate cuts until at least June.
