Dow, S&P 500, Nasdaq futures fall with Trump tariffs, Big Tech earnings kickoff in focus

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US stock futures fell early Monday as investors prepared for another week of developments on President Trump's fast-moving tariff policies and for the kickoff of Big Tech earnings reports. Futures tied to the S&P 500 were down 1%, while those on the tech-heavy Nasdaq fell 1.1%. Dow Jones Industrial Average futures also dropped 0.9%.

🚫 U.S. chip controls will benefit China’s Nvidia rivals like Huawei: Analysts: As the U.S. tightens controls on Nvidia’s sales to China, the country’s rising domestic artificial intelligence chipmakers like Huawei stand to benefit, semiconductor analysts say. CNBC reports.

💼 South Korea finds ‘Made in Korea’ breaches intended to bypass U.S. tariffs: South Korea has found increased attempts to disguise foreign products as Korean exports, primarily from China, to avoid U.S. President Donald Trump’s sweeping tariffs, its customs agency said Monday. CNBC reports.

🎬 Netflix stock rises. Why earnings impressed Wall Street: Netflix stock was rising Monday after a strong first-quarter earnings report helped it shrug off a slump for the broader market. Shares climbed 3% to $1,001.96 ahead of the opening bell. Yahoo Finance reports.

🎮 Nintendo faces trade war test with Switch 2 launch: Nintendo's Switch became a source of much-needed escapism during pandemic restrictions. Now, the Japanese video game company faces the harsh reality of a brutal trade war as it launches its successor device. Reuters reports.

🏢 US multinationals extend currency hedges to counter Trump's tariff volatility: U.S. multinational companies are extending their currency hedges to longer periods to shield their cash flows from potential exchange rate volatility triggered by the Trump administration's tariff policies. Reuters reports.

🥇 Gold hits record as dollar sags and trade war concerns persist: Gold rallied to a record as a fresh bout of US dollar weakness, criticism of the Federal Reserve by President Donald Trump and persistent trade war concerns underpinned haven demand. Yahoo Finance reports.

🔍 Google faces trial in US bid to end search monopoly: Alphabet's Google faces a historic trial on Monday as U.S. antitrust enforcers in Washington seek to force the tech giant to sell off its Chrome browser as part of a bid to restore competition to the market for online search engines. Reuters reports.

🚗 Tesla's affordable EV, robotaxis in focus after Musk backlash, competition hurt demand: Tesla investors will be eager to ask CEO Elon Musk two pressing questions when the electric vehicle maker reports results on Tuesday: when will the affordable vehicle launch, and is the robotaxi plan on schedule? Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1) $SHFS: SHF Holdings
Total gain: +113.9%

2) $APVO: Aptevo Therapeutics
Total gain: +41.54%

3) $CWD: CaliberCos
Total gain: +40.01%

4) $GURE: Gulf Resources
Total gain: +27.88%

5) $MLGO: MicroAlgo
Total gain: +27.87%

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

WRB: WR Berkley
1Q 2025
After Market Close
Estimate: 0.990
Actual: N/A

WTFC: Wintrust Financial Corp.
1Q 2025
After Market Close
Estimate: 2.490
Actual: N/A

ZION: Zions Bancorporation
1Q 2025
After Market Close
Estimate: 1.180
Actual: N/A

Time (ET) / Report / Period

10:00 am - U.S. leading economic indicators - March

“The margin of safety is the central concept of investment.”

- Benjamin Graham

Sourced in:
“The Intelligent Investor: The Definitive Book on Value Investing”, by
Benjamin Graham, published in 2006.