Wall Street teetered toward small losses in relatively calm trading Tuesday morning, the Associated Press reports. Futures for the S&P 500 and Nasdaq each ticked down 0.3%, while futures for the Dow Jones Industrial Average fell 0.4%.
In contrast to the latest tariff pullback announcement, the Trump administration took steps toward imposing more tariffs, saying it was investigating the national security implications of imports of pharmaceuticals, computer chips and related products.
Bank of America rose 1.8% in premarket trading after it beat Wall Street analysts’ sales and revenue forecasts. Most big U.S. banks have been reporting strong first-quarter results, boosted by their stock trading desks taking advantage of the volatility caused by Trump’s on-again-off-again tariff announcements.
Johnson & Johnson also reported strong sales and profit in its most recent quarter; however, its shares were down 1% before the opening bell Tuesday.
Boeing shares slid 3.3% after Beijing ordered Chinese airlines not to take further deliveries of Boeing planes and to halt purchases of aircraft equipment from U.S. companies, according to a Bloomberg report.
Treasury yields stabilized following their sudden and scary rise last week, with the yield on the 10-year Treasury holding firm from Monday at 4.37%. It had jumped to 4.48% on Friday from 4.01% the week before.
In energy trading, benchmark U.S. crude fell 48 cents to $61.05 per barrel. Brent crude, the international standard, also lost 48 cents, to $64.40 per barrel.
The U.S. dollar fell to 142.87 Japanese yen from 143.04 yen.
