U.S. stock futures fell Sunday night after President Donald Trump clarified that tariffs will take effect on August 1 instead of July 9. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.33%, 0.29%, and 0.36%, respectively, at 8:26 p.m. EST, July 6.
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On Sunday, President Trump and Commerce Secretary Howard Lutnick said that new tariffs will begin on August 1. Lutnick added that Trump is still deciding the final rates and terms of the tariffs, and Trump agreed. Earlier in the day, Treasury Secretary Scott Bessent said on CNN that if no deal is reached by then, the tariffs will go back to the same levels as they were on April 2.
Meanwhile, U.S. stock indexes ended the shortened week with solid gains, rising in three out of four sessions. The S&P 500 climbed 2.25% and the Nasdaq-100 rose 1.87%, with both hitting new record highs. The Dow Jones also had a strong week, jumping 3.32% and finishing just under 1% below its all-time peak.
