Stock Futures Little Changed to Start New Month

Stocks are poised to kick off a new month of trading as another tariff deadline looms. (Spencer Platt/Getty Images)

Stock futures were little changed on Sunday, starting off a new month as President Donald Trump’s latest tariffs are set to take effect on Aug. 7.

White House officials stressed to the Sunday morning news shows that the latest tariff deadlines, pushed back from Aug. 1, were final and wouldn’t be renegotiated before Thursday.

After they started trading late Sunday, Dow Jones Industrial Average futures were down 27 points, or less than 0.1%. S&P 500 futures were down 0.1%, and Nasdaq Composite futures were down 0.1%.

Trump set broad 10% baseline tariffs on imports to the U.S. from across the world, but there are numerous carve-outs, including a 15% levy on imports from the European Union and 35% on goods from Canada.

U.S. Trade Representative Jamieson Greer told CBS News’ Face the Nation that he didn’t see any chance that tariff rates would be negotiated down in the coming days. “So these tariff rates are pretty much set.”

Kevin Hassett, the director of the White House National Economic Council, told NBC’s Meet the Press that eight trade deals with the EU, Japan, Korea, and other nations are “the final deals,” although there might be “some dancing around the edges” on details.

The Dow Jones Industrial Average closed down 1,313 points last week, or 2.9%, to 43,589, including a 542-point drop on Friday, in the largest one-week point and percentage drop since the week ended April 4, according to Dow Jones Market Data. That was around the time Trump first announced his so-called “reciprocal” tariffs. The Dow is up 2.5% so far this year.

The S&P 500 closed down 2.4% last week, to 6238, snapping a two-week winning streak, in the largest one-week point and percentage decline since the week ended May 23. The S&P is up 6.1% year to date.

The Nasdaq Composite closed down 2.2% last week to 20,650, also snapping a two-week winning streak, and the largest one-week point and percentage decline since the week ended May 23, according to Dow Jones Market Data. The Nasdaq is up 6.9% this year.

Write to Janet H. Cho at janet.cho@dowjones.com