Wall Street pointed lower early Monday ahead of the Trump administration’s midweek deadline to negotiate deals with trading partners, the Associated Press reports. Futures for the S&P 500 were down 0.3% before the opening bell, while futures for the Dow Jones Industrial Average fell less than 0.1%, and Nasdaq futures slid 0.5%.
The U.S. will warn trading partners that higher tariffs could take effect Aug. 1. President Donald Trump and his top trade advisors said over the weekend that he could extend the tariff deadline if countries make concessions and negotiate in good faith.
Meanwhile, Tesla fell 6.5% as the feud between CEO Elon Musk and Trump reignited over the weekend.
Molina Healthcare tumbled 6% after the insurer lowered its profit guidance due to accelerating costs.
Oil prices fluctuated after OPEC+ said Saturday it would raise production in August by 548,000 barrels per day, but U.S. benchmark crude was essentially unchanged early Monday at $67 per barrel. Brent crude, the international standard, was up 40 cents to $68.70 per barrel.
