Stock futures slip after Dow closes at another record: Live updates

Stock futures slip after Dow closes at another record: Live updates


Traders work on the floor of the New York Stock Exchange during afternoon trading on Aug. 2, 2024.

Michael M. Santiago | Getty Images

Stock futures slipped in overnight trading Monday, after the Dow Jones Industrial Average closed at a new record.

Futures tied to the Dow slid 144 points, or 0.3%. S&P 500 futures fell 0.4%, and Nasdaq 100 futures dropped 0.5%.

On Monday evening, President-elect Donald Trump called for a 25% tariff on products from Mexico and Canada, as well as an additional 10% levy on Chinese goods. He has already said he would impose a tariff of up to 20% on all imports, and an additional duty of at least 60% on products from China.

Stocks are coming off an action-packed session fueled by Trump’s new Treasury secretary pick, hedge fund executive Scott Bessent. The gains helped refuel the belief that the postelection rally is back in full gear following a brief breather.

The 30-stock Dow popped roughly 440 points, or about 1%, to a new record close during regular trading. The S&P 500 gained 0.3% to notch a new all-time intraday high, while Nasdaq Composite edged up about 0.3%. The Russell 2000 hit a new intraday high — its first record since 2021 — as investors piled into small caps.

Meanwhile, Treasury yields fell as traders took a favorable view of Bessent leading the Treasury department. Many investors view the hedge fund manager as a champion of financial markets and the economy given his background, and as someone who could potentially counteract some of Trump’s aggressive trade aspirations.

“These policies may take more time to play through into the market actually get enacted,” NewEdge chief investment officer Cameron Dawson told CNBC’s “Closing Bell” on Monday of potential new policies from the Treasury pick. “It’s definitely a question mark of how much impact he can have in the short run as we round the year.”

The U.S. market is closed Thursday for the Thanksgiving holiday and set to close early Friday, with volume expected to remain light. Ahead of the holiday, investors are looking ahead to October’s personal consumption expenditure price index.



Source

Blackstone drops out of consortium bid for TikTok U.S.: Reuters
World

Blackstone drops out of consortium bid for TikTok U.S.: Reuters

In this photo illustration, the logo of TikTok is displayed on a smartphone screen on April 5, 2025 in Shanghai, China.  Vcg | Visual China Group | Getty Images Private equity giant Blackstone has withdrawn from a consortium seeking to invest in TikTok’s U.S. operations, a source familiar with the matter told Reuters on Friday. The latest […]

Read More
Justice Department asks court to unseal Epstein, Maxwell grand jury transcripts
World

Justice Department asks court to unseal Epstein, Maxwell grand jury transcripts

U.S. Attorney General Pam Bondi speaks to the media, after the U.S. Supreme Court dealt a blow to the power of federal judges by restricting their ability to grant broad legal relief in cases as the justices acted in a legal fight over President Donald Trump’s bid to limit birthright citizenship, in the Press Briefing […]

Read More
Men Trump administration had sent to El Salvador’s CECOT prison exchanged in prisoner swap
World

Men Trump administration had sent to El Salvador’s CECOT prison exchanged in prisoner swap

Ten Americans freed from Venezuelan prision. Courtesy: U.S. Embassy The Venezuelan immigrants whom the Trump administration had sent to a notorious mega prison in El Salvador have been flown from there to Venezuela, according to El Salvador President Nayib Bukele. The move, Bukele said in a post on X, was part of a prisoner swap in which the […]

Read More