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

US banal futures fell aboriginal Monday arsenic investors prepared for different week of developments connected President Trump's fast-moving tariff policies and for the kickoff of Big Tech net reports.

Futures tied to the S&P 500 (ES=F) were down 0.8%, portion those connected the tech-heavy Nasdaq (NQ=F) fell 0.9%. Dow Jones Industrial Average futures (YM=F) besides dropped 0.7%.

As Yahoo Finance's Josh Schafer wrote successful our preview of the week ahead, the banal marketplace remains mostly astatine the mercy of Trump's tariffs. Different headlines and shifts successful narratives person driven large marketplace swings implicit the past respective weeks, from Trump's "Liberation Day" to the consequent locomotion backmost to a seemingly ever-escalating conflict with China.

The S&P 500 (^GSPC) fell astir 1.5% successful a shortened trading week past week, portion the Nasdaq Composite (^IXIC) and Dow (^DJI) each shed astir 2.6%. All 3 indexes are down implicit 5% since Trump's April 2 tariff lawsuit astatine the White House.

Read more: The latest connected Trump's tariffs

Big banks and immoderate consumer-facing companies person already revealed their first-quarter net reports, providing penetration into their preparations up of the tariffs. So far, a smaller percent of companies are beating expert expectations — and those who are outrunning the estimates are doing truthful by smaller margins than usual.

This week, 2 of the "Magnificent 7" instrumentality the spotlight of immoderate 120 S&P 500 companies reporting: Elon Musk's Tesla (TSLA) and Alphabet (GOOG, GOOGL). Both stocks are emblematic of this year's displacement distant from the high-flying tech commercialized of caller years. Alphabet banal is down astir 20% truthful acold successful 2025, portion Tesla has mislaid a whopping 40%.

The economical information beforehand is acceptable for a quieter week, with cardinal points connected the lodging marketplace and a speechmaking of user sentiment acceptable for aboriginal successful the week.