Wall Street was trending lower before the opening bell Tuesday following new tariffs announced by the White House, the Associated Press reports. More corporate earnings were also arriving ahead of Federal Reserve Chair Jerome Powell’s semiannual testimony before Congress. Futures for the S&P 500 fell 0.5%, while futures for the Dow Jones Industrial Average lost 0.3%. Nasdaq futures retreated 0.5%.
Coca-Cola rose 3.4% after the beverage giant posted better-than-expected fourth-quarter sales on strong volumes in the U.S., China, and elsewhere. It also beat Wall Street profit forecasts.
DuPont climbed 5.6% after the chemical easily beat analysts’ sales and profit expectations. The Delaware company said its results were helped by strong demand in its electronics business, which it is spinning off later this year.
In the bond market, the yield on the 10-year Treasury held ticked up to 4.53% from 4.50%. The yield on the two-year Treasury, which more closely tracks expectations for what the Federal Reserve will do with short-term interest rates, held steady at 4.29%.
In energy trading, benchmark U.S. crude added $1.21 to $73.53 per barrel. Brent crude, the international standard, rose $1.33 to $77.20 per barrel.
In currency trading, the U.S. dollar rose to $152.35 against the Japanese yen.
