US stock futures fell solidly Sunday evening as investors took the weekend to process the February jobs report and prepared for a busy week of economic data, headlined by a report on inflation amid concerns over its resurgence under President Trump’s unpredictable trade policy.
Dow Jones Industrial Average futures (YM=F) saw a 0.5% slip. Futures attached to the benchmark S&P 500 (ES=F) dropped 0.7% after the index posted its worst week since September, while futures tied to the Nasdaq (NQ=F) saw a 1% dip. All three major indexes looked set to build on losses of more than 2% last week.
March’s market struggles continue to be fueled by trade war concerns, as ongoing tariff negotiations between the US, Mexico, and Canada dominate the headlines. In a Sunday interview on Fox News, President Donald Trump addressed concerns about a potential recession, describing the economy as undergoing “a period of transition.”
Meanwhile, Mark Carney is set to become Canada’s new prime minister in the middle of a tough economic situation for his country amid Trump’s persistent tariff threats.
The political uncertainty is expected to persist into this week, with key economic data adding to the mix of potential market-moving factors. The Fed’s survey of consumer inflation expectations is set for release Monday, followed by the University of Michigan’s consumer sentiment report on Friday.
Meanwhile, updates on the inflationary picture will be in focus, with the February Consumer Price Index scheduled for release on Wednesday and the Producer Price Index set to follow on Thursday.
Read more: Trump pauses tariffs on most imports from Mexico, Canada
Earnings continue to come, although this week does see a quieter set of corporate releases. Oracle (ORCL) and BioNTech (BNTX) report Monday, and Adobe (ADBE) is set to report Wednesday.
Gold (GC=F) remained strong following a week of gains as market jitters caused by global economic uncertainty led to haven demand.
Bloomberg reports:
Spot bullion steadied near $2,912 an ounce, after gaining almost 2% last week. In the US, President Donald Trump said the economy faced “a period of transition” as he pressed on with his focus on tariffs and federal job cuts. In China, data pointed to persistent deflationary pressures.
The precious metal has surged in the opening quarter of 2025, hitting successive records and gaining every week apart from one. The rally has been driven by investor anxiety about the disruption caused by the Trump administration’s trade policies, signs of sustained central-bank buying, and speculation the Federal Reserve may cut interest rates further.
Read more here.
Oil prices dropped as disappointing economic data from China highlighted a bleak demand outlook, while broader markets reflected a reticence to take on risk.
Bloomberg reports:
Brent (BZ=F) traded near $70 a barrel after touching the lowest since 2021 last week, while West Texas Intermediate (CL=F) was below $67. China’s consumer inflation fell more than expected and was below zero for the first time in 13 months, highlighting persistent deflationary pressures in the biggest crude importer.
In the US, President Donald Trump told Fox News the economy faced a “period of transition” after his actions on tariffs, while avoiding making calls for a recession. On Friday, Federal Reserve Chair Jerome Powell acknowledged the rise in uncertainty, but said officials didn’t need to rush to cut rates.
Crude has been hit by a confluence of bearish factors, including the escalating global trade war, plans by OPEC and allies to increase production, and talks to end the three-year war in Ukraine. That’s spurred speculators to cut net-bullish bets on global benchmark Brent by the most since July.
Read more here.
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Gold stays strong after weekly gain
Oil prices drop as China data sours global outlook on risk
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