US pre-open: Futures slightly lower as tariff news remains in focus
By Iain Gilbert
Date: Thursday 10 Jul 2025
(Sharecast News) - Wall Street futures were in the red ahead of the bell on Thursday as tariff news remained in focus.
As of 1220 BST, Dow Jones futures were down 0.19%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.10% and 0.05% lower, respectively.
The Dow closed 217.54. points higher on Wednesday, bouncing back after two days of losses despite ongoing tariff-related uncertainty as minutes from the latest Federal Reserve meeting opened the door to another rate cut this year.
Donald Trump said late on Wednesday that he was instituting a 50% tariff on imported copper, with effect from 1 August, and also announced a 50% tariff on Brazil, principally in retaliation for its ongoing trial against former president Jair Bolsonaro for his role in an alleged attempt to overturn Brazil's 2022 election results. Trump also said the tariffs were due to a "very unfair trade relationship" with Brazil.
Brazilian president Luiz Inacio Lula da Silva said that his country would respond to the new levy in accordance with its economic reciprocity law.
Before Trump's Brazil tariff announcement, he sent letters that outlined new US import duties on at least seven additional countries, just days after he sent letters spelling out new rates to the leaders of 14 other countries, including Japan and South Korea.
On the macro front, weekly jobless claims data from the Labor Department will be released at 1330 BST.
Reporting by Iain Gilbert at Sharecast.com
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