Trump Imposes New Duties Despite Supreme Court Rebuke

U.S. stock index futures experienced a dip on Monday as renewed tariff uncertainty began to affect investor sentiment. This decline followed President Donald Trump's announcement of a new 15% global duty. The introduction of these new tariffs comes shortly after a Supreme Court ruling on Friday that voided most of the levies Trump had imposed the previous year.

The Supreme Court's 6-3 decision determined that the emergency law Trump had utilized did not grant the authority for imposing such tariffs. However, the administration is now exploring alternative statutes to implement these duties, with the current 15% levy potentially lasting five months.

This unpredictable trade policy landscape poses significant challenges for corporate America, making it difficult for businesses to plan supply chains and manage costs. Analysts emphasize the need for clear and stable trade policies to allow companies to strategize effectively.

Despite the pre-market dip, major stock indexes had concluded the prior week with gains. The Nasdaq, in particular, had broken a five-week losing streak. However, the new tariff announcement has introduced a layer of caution.

In premarket trading, most megacap and growth stocks were down. Alphabet showed resilience with a gain, while Nvidia's performance was watched ahead of its quarterly earnings report due Wednesday. The AI sector remains under scrutiny due to high valuations and concerns about spending efficiency.

Further earnings reports from software firms like Salesforce and Intuit are anticipated this week, as the S&P 500 software and services index has seen a significant slump this year amid AI disruption fears.

In other market movements, Eli Lilly shares rose following positive comparative trial results for its obesity drug. Conversely, cryptocurrency-related stocks dropped as Bitcoin experienced a decline. Gold and silver miners, however, saw gains as the prices of precious metals increased.