Pre-Markets in the Red to Start a Fresh Week

Market Overview - Pre-market futures are lower across all major indexes due to new tariff threats from President Trump, which have dampened market enthusiasm after reaching near record highs last week [1][2] - Trump announced a new +35% tariff on all Canadian imports and a +30% tariff on both the EU and Mexico, effective if no new trade deals are reached by August 1st [2] Tariff Impact - Over $99 billion in revenues have been collected from tariff policies, marking an increase of more than +110% from the previous year [3] - Economists express concerns that higher tariffs could lead to increased prices for consumers as companies pass on costs to maintain profitability [3] Trade Deal Status - The U.S. has not established new trade deals, with only an incomplete agreement with the UK and a preliminary deal with China regarding rare earth materials [4][5] - The 90-day window for establishing new trade policies has closed without resolution, raising questions about the potential for further delays [5] Economic Data Releases - This week will see significant economic data releases, including the Consumer Price Index (CPI) and Producer Price Index (PPI), with CPI expected to rise to +2.7% from +2.4% [6] - Other economic reports include Empire State and Philly Fed manufacturing reports, Retail Sales, Industrial Production, Business Inventories, Homebuilder Confidence, and Housing Starts/Building Permits [7] Earnings Reports - Major banks such as JPMorgan, Citigroup, and Wells Fargo will report earnings on Tuesday, followed by Bank of America and Goldman Sachs later in the week [8] - Other companies reporting include Netflix, Johnson & Johnson, and 3M, contributing to a busy earnings week [8]