Market

US Stocks Rally Premarket Following Trump's Announcement of New Steel and Aluminum Tariffs

US Markets React to New Tariffs

In an early morning surge, US stocks climbed premarket on Monday. This uptick followed President Donald Trump's announcement of a 25% tariff on all steel and aluminum imports. The move has notably propelled US Steel's shares to soar by 11% in premarket trading.

Gold Hits Record High

Amidst these developments, gold prices have reached a new pinnacle, hitting a record high of $2,892 earlier today. This surge underscores the metal's safe-haven appeal during times of economic uncertainty.

Earnings in Focus: McDonald's Leads the Pack

As the week unfolds, McDonald's earnings report is highly anticipated, marking a significant point in a week packed with earnings announcements from various companies. Investors are keenly awaiting these results for insights into the broader economic landscape.

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.