Wall Street pointed toward losses early Tuesday, one day before President Donald Trump rolls out his “Liberation Day” tariffs on U.S. trade partners, the Associated Press reports. Futures for the S&P 500 fell 0.5% before the bell, while futures for the Dow Jones Industrial Average lost 0.6% and Nasdaq futures headed 0.5% lower.
Gold rose to over $3,170.00 per ounce early Tuesday before falling back slightly. Gold is hitting all-time highs as investors seek a safe place to park their money with markets destabilized by Trump’s tariff threats.
In equities trading, Johnson & Johnson slid 3.5% after a U.S. bankruptcy court judge denied the company’s settlement plan related to baby powder containing talc. It’s the third time the company’s attempt to resolve the baby powder settlement through bankruptcy has been rejected by courts.
Shares of PVH Corp., the clothing company formerly known as Phillips-Van Heusen, climbed 16% before the bell after it beat Wall Street’s fourth-quarter sales and profit targets. PVH, which owns the Calvin Klein and Tommy Hilfiger brands, also gave a strong forecast for 2025.
