Market Reaction to New Tariffs

In a bold move that has sent ripples through the global markets, President Donald Trump announced a 25% tariff on all steel and aluminum imports. This decision has notably caused US Steel shares to surge by 11% in premarket trading, signaling a strong market confidence in the domestic steel industry.

Gold Hits Record High

Amidst these developments, gold prices climbed to a fresh record high of $2,892, reflecting investors' search for safe-haven assets in uncertain times.

Earnings Season in Full Swing

Today's financial spotlight is on McDonald's, as the earnings season continues with a packed roster of companies set to report their financials. This week promises to be a busy one for investors and analysts alike.

Market Performance

At 4:25 am ET, the Dow Jones gained 0.28%, the Nasdaq 100 added 0.59%, and the S&P 500 improved by 0.39%. Meanwhile, the euro traded flat against the dollar, standing at 1.03277 at 4:26 am ET.