- Morning Watchlist
- Posts
- Morning Watchlist: Heavy Tariffs Hit Markets
Morning Watchlist: Heavy Tariffs Hit Markets
Tom White
April 03, 2025
U.S. stock futures are selling off in premarket trading in the wake of the tariff announcement yesterday after the close with the benchmark S&P 500 down over 3%. The levies were more onerous than feared, especially after stocks rallied into the announcement. The policy announced by the Trump administration included reciprocal tariffs that vary country to country on some of the U.S.′s largest trading partners, as well as a blanket 10% duty on imports from all countries. Stagflation, if not recession risks, will be on the rise as uncertainty has risen. Investor focus will be on the tariff impacts along with Services data and Jobless Claims.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are down 6% near $67.30 a barrel after U.S. President Donald Trump announced sweeping new tariffs which investors worry will enflame a global trade war that will curtail economic growth and limit fuel demand.
Gold (/GC) – Gold prices have reversed lower after hitting a record high overnight and are trading off over 1% near $3120 in the premarket.
Bitcoin (/BTC) – The crypto future is down 4.5% to around $83K.
VIX – The CBOE Volatility Index has popped over 20% to above 26 as stocks sell off.
U.S. Dollar (/DX) – The dollar is down almost 2% to 101.5.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7 AM ET) |
|---|---|---|
ABBV | Abbvie | +0.88% |
T | AT&T | +0.64% |
NEE | NextEra Energy | +0.60% |
LULU | Lululemon | -12.04% |
DECK | Deckers Outdoor | -11.93% |
DLTR | Dollar Tree | -10.15% |
Economic Data
Time | Event |
|---|---|
7:00AM ET | Challenger Job Cuts |
8:30AM ET | Jobless Claims Intl. Trade in Goods/Services |
9:45AM ET | PMI Composite |
10:00AM ET | ISM Services Index |
10:30AM ET | Natural Gas Inventories |
12:30PM ET | Fed’s Jefferson Speaks |
2:30PM ET | Fed’s Cook Speaks |
Notable Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
AYI, CAG, LW, MSM | GES | None | None |
Upgrades/Downgrades
Morgan Stanley upgrades Block (XYZ) to Overweight from Equal Weight
Cantor Fitzgerald upgrades Zscaler (ZS) to Overweight from Neutral
Citi upgrades TJX (TJX) and Ross Stores (ROST) to Buy from Neutral
JPMorgan downgrades U.S. Bancorp (USB) to Underweight from Neutral
BofA double downgrades Lyft (LYFT) to Underperform from Buy
Tune in live from 8 a.m. to 5 p.m. ET, or anytime, anywhere, on‑demand.
Or stream it via thinkorswim® and thinkorswim Mobile, available through our broker-dealer affiliate, Charles Schwab & Co., Inc
Please do not reply to this email. Replies are not delivered to Schwab Network. For inquiries or comments, please email [email protected].
See how your information is protected with our privacy statement.
This material is intended for informational purposes only and should not be considered a personalized recommendation or investment advice. Investors should review investment strategies for their own particular situations before making any decisions.
Schwab Network is brought to you by Charles Schwab Media Productions Company (“CSMPC”). CSMPC is a subsidiary of The Charles Schwab Corporation and is not a financial advisor, registered investment advisor, broker-dealer, or futures commission merchant.
Charles Schwab Media Productions Company and all third parties mentioned are separate and unaffiliated, and are not responsible for one another's policies, services or opinions.
Data contained herein is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. All events and times listed are subject to change without notice.