Outlook 02/03: Stock futures drop to kick off February after President Donald Trump hit several key U.S. trading partners with tariffs, raising fears that a full-blown trade war would disrupt global supply chains, reignite inflation and slow the economy. President Donald Trump on Saturday slapped a 25% tariff on goods from Mexico and Canada. He also placed a 10% levy on imports from China. Energy imports from Canada received a lower 10% tariff. Canada responded with retaliatory tariffs of its own, while Mexico said it would explore levies on U.S. imports. The Chinese government, meanwhile, said it would file a lawsuit with the World Trade Organization. Trump also signaled over the weekend that tariffs on the European Union would be imposed next.
ESH25 (MAR2025): YVAH 6147 YPOC 6138 YVAL 6084 GAP 6064
/ES Plan: Last session market closed bearish, and overnight continues on that way, moving well below previous value/range, so these're the opening and initial balance options for current session:
