Premarket Surge in US Stocks

As dawn broke over the United States, the stock market showed signs of a robust start to the week. This surge came in the wake of President Donald Trump's announcement of a 25% tariff on all steel and aluminum imports. The news propelled US Steel shares to an impressive 11% jump in premarket trading, signaling a positive investor sentiment towards domestic producers.

Gold Hits Record High

In a parallel development, gold prices soared to a new all-time high of $2,892, underscoring the metal's enduring appeal as a safe-haven asset amidst global economic uncertainties.

Earnings Season in Focus

Today's financial landscape is also set to be shaped by corporate earnings, with McDonald's leading the charge. The fast-food giant's financial disclosures are eagerly anticipated, as they often provide valuable insights into consumer spending trends and the health of the service sector. This week promises a packed earnings schedule, offering a comprehensive overview of the economic environment.

At 4:25 am ET, the Dow Jones had gained 0.28%, the Nasdaq 100 added 0.59%, and the S&P 500 improved by 0.39%, painting a picture of a market on the rise.

Meanwhile, the euro remained steady against the dollar, trading at 1.03277 at 4:26 am ET, as investors weighed the implications of the new tariffs on international trade dynamics.