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Wall Street Futures Tumble Amid Trump’s Tariff Blitz and Amazon’s Earnings Miss

Market Overview Wall Street futures took a sharp hit Friday morning as investors reacted to a double dose of economic anxiety: sweeping new tariffs imposed by President Donald Trump and disappointing earnings from Amazon. Dow futures fell nearly 1% S&P 500 futures dropped 0.91% Nasdaq 100 futures slid 1.1% Tariff Shockwaves Trump’s executive order introduced tariffs ranging from 10% to 41% on imports from over 90 countries. Notable hikes include: Canada : 35% India : 25% Taiwan : 20% Thailand : 19% South Korea : 15% The White House dubbed August 1st “Liberation Day,” signaling a hardline stance with little room for negotiation. China faces an August 12 deadline to finalize a separate trade agreement. Tech Turmoil Amazon shares plunged 7.6% in premarket trading after its cloud division, AWS, posted underwhelming growth compared to rivals like Microsoft and Alphabet. In contrast, Apple’s earnings beat expectations, buoyed by strong iPhone sales, though CEO Tim ...
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Markets Cool After Hot July: Wall Street Slips as Tariff Deadline and Jobs Data Weigh on Sentiment

 


Wall Street Ends July on a Cautious Note Amid Tariff Tensions and Jobs Report Jitters

The U.S. stock market closed the final trading session of July with modest losses, capping a month of strong gains on a sour note as investors braced for President Trump's looming tariff deadline and a pivotal jobs report.

  • Dow Jones Industrial Average fell about 0.7%
  • S&P 500 slipped 0.4%
  • Nasdaq Composite dipped below the flatline after earlier gains

Despite Thursday’s decline, July was a solid month overall:

  • S&P 500 gained 2.3%
  • Nasdaq rose 3.7%
  • Dow ended the month nearly flat

Tariff Deadline and Trade Uncertainty

President Trump’s tariff deadline on Friday has markets on edge. While he extended current rates with Mexico for 90 days, broader trade terms with other partners remain uncertain. The U.S. also struck a deal with South Korea, applying 15% tariffs in exchange for duty-free treatment on many American goods.

Fed Policy and Inflation Concerns

The Federal Reserve held interest rates steady this week, but its preferred inflation gauge—the PCE index—showed price increases accelerated in June, keeping inflation above the 2% target. Fed Chair Jerome Powell emphasized that no decisions have been made about a potential rate cut in September.

Jobs Report Looms

Friday’s jobs report is expected to show the U.S. added just 104,000 jobs in July, potentially the weakest monthly gain since February. Powell noted that the unemployment rate remains the key metric to watch, as labor force participation continues to decline.

Big Tech Earnings Shine

Amid the macroeconomic uncertainty, Big Tech delivered standout performances:

  • Meta (META) surged over 11% on strong earnings and bullish guidance
  • Microsoft (MSFT) briefly jumped 8%, pushing its market cap above $4 trillion
  • Investors now await results from Apple (AAPL) and Amazon (AMZN)


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