US Futures Slide on MLK Day Amidst Fresh Tariff Threats, Global Markets React

Market Overview - U.S. stock markets are closed on January 19, 2026, for Martin Luther King Jr. Day, with no cash equity trading or after-hours sessions occurring [1] - U.S. equity futures are experiencing notable declines, with E-mini S&P 500 futures down approximately 0.7% to 0.9%, Nasdaq 100 futures down between 1% and 1.2%, and Dow Jones Industrial Average futures sliding by about 0.6% to 0.7% [2] Geopolitical Developments - President Trump announced a 10% tariff on imports from eight European countries, effective February 1, which could escalate to 25% by June 1 if no agreement is reached regarding the U.S. acquisition of Greenland [3] - European leaders are considering retaliatory measures, including activating the EU's Anti-Coercion Instrument, in response to the tariff threats [3] Safe-Haven Assets - Investors are flocking to safe-haven assets, with gold futures surging to a record high above $4,670 an ounce and silver futures reaching a new record above $94 an ounce [4] Global Market Performance - European equity markets are broadly lower, with the STOXX Europe 600 index down approximately 0.9%, Germany's DAX declining by 1.1%, and France's CAC 40 down 1.3% [5] - Asian markets show mixed results, with Japan's Nikkei 225 dipping by 0.7% to 0.8%, while China's economy expanded by 4.5% year-on-year in Q4 2025, despite disappointing retail sales figures [6] Upcoming Market Events - Key economic data and corporate earnings reports are expected to influence market sentiment upon the reopening of U.S. markets [7] - The Personal Consumption Expenditures (PCE) price index and a further estimate of third-quarter GDP growth are scheduled for release, which will be vital for assessing the U.S. economy [8] Earnings Season - The fourth-quarter earnings season is underway, with major companies such as Netflix, Intel, Visa, 3M, Johnson & Johnson, Procter & Gamble, and NextEra Energy set to report their results [10] Major Stock News - BRC Group Holdings reported a significant turnaround with a net income of $89.1 million in Q3, contrasting with a loss in the same period last year [14] - Goldman Sachs shares increased by 4.6% due to record-setting equity trading revenue [14] - European defense stocks are gaining amidst geopolitical tensions, while European car manufacturers are seeing declines due to fears of increased U.S. tariffs [14]