On Friday, January 31st, U.S. markets closed lower after the White House announced new tariffs on imports from Canada, Mexico, and China, raising investor concerns about economic uncertainty and potential retaliation. Apple declined despite positive earnings commentary, while energy stocks, including Chevron and Exxon Mobil, dropped following weaker-than-expected quarterly results.

According to economic data, U.S. personal income rose by 0.4% in December, up from 0.3% in November, while personal spending increased by 0.7%, reaching an annualized $20.387 trillion. The core PCE price index grew 0.2% from the previous month.

Most S&P 500 sectors declined, led by energy, technology, and materials, while communication services and consumer discretionary stocks gained.

The Dow Jones Industrial Average was down 0.75% and closed at 44,544.66, the S&P 500 closed lower by 0.50% at 6,040.53, and the Nasdaq Composite fell 0.28% to finish at 19,627.44.

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Eurozone at 05:30 AM ET

• The European STOXX 50 was down 1.72%.
• Germany’s DAX fell 1.64%.
• France’s CAC declined 1.70%.
• U.K.’s FTSE index 100 traded lower by 1.25%.
• European stocks fell amid global market pressure following U.S. tariffs on Canada, Mexico, and China.

Commodities at 05:30 AM ET

U.S. Futures at 05:30 AM ET

• Dow futures were down 1.27%, S&P 500 futures declined 1.43% and Nasdaq 100 futures slid 1.64%.
• U.S. stock futures fell as Trump’s new tariffs on Mexico, Canada, and China raised fears of a trade war and economic disruption. Retaliation from affected countries looms, while Trump plans talk with Canadian and Mexican leaders.

Forex at 05:30 AM ET

• The U.S. dollar index surged 0.99% to 109.44, the USD/JPY fell 0.19% to 154.89, and the USD/AUD rose by 0.11% to 1.6267.
• The U.S. dollar surged to a three-week high after Trump imposed tariffs on Canada, Mexico, and China, fueling safe-haven demand. The euro and commodity currencies fell, while the yuan hit record lows.

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