Market Reacts to New Tariffs

In a significant move, President Donald Trump has announced a 25% tariff on all steel and aluminum imports, sparking a notable response in the stock market. US Steel shares surged by 11% in premarket trading, indicating a positive reception from investors.

Gold Hits Record High

Meanwhile, gold prices have climbed to a new all-time high of $2,892, reflecting investors' ongoing search for safe-haven assets amidst global economic uncertainties.

Earnings Season in Focus

Today's earnings spotlight is on McDonald's, with a packed schedule of financial announcements expected throughout the week. This comes as the Dow Jones, Nasdaq 100, and S&P 500 all showed gains in premarket trading, signaling a positive start to the week for US stocks.

The euro remained stable against the dollar, trading at 1.03277 at 4:26 am ET, indicating a steady currency market amidst the day's economic developments.