US stock market futures dip: Dow, S&P 500, Nasdaq slide as inflation data looms and Trump’s global tariff threat hits Apple, Boeing, and Oracle

US stock market futures dips as inflation data looms and President Trump revives tariff threats- US stock market futures took a hit on Thursday, May 26, 2025, as investors braced for key inflation data and reacted to President Donald Trump’s renewed threat to impose tough “take it or leave it” tariffs on major trading partners. The Dow Jones Industrial Average futures (YM=F) dropped around 0.7%, shedding nearly 300 points, while S&P 500 futures (ES=F) slipped 0.5%. The Nasdaq 100 futures (NQ=F), heavily loaded with tech stocks, also slid 0.5%, reflecting growing unease on Wall Street.

This market downturn follows a break in the S&P 500’s winning streak earlier this week. With rising tensions in the Middle East and the fragile US-China trade detente under pressure, investors are increasingly cautious about where the economy may be headed next.

U.S. stock market futures took a hit early Thursday as Wall Street braced for key inflation data and renewed tariff tensions from President Trump. All three major futures indexes were in the red, reflecting growing investor caution.

• Dow Jones futures: Down 0.63%
• S&P 500 futures: Down 0.42%
• Nasdaq 100 futures: Down 0.34%

With the Producer Price Index (PPI) report on deck and trade fears bubbling up again, traders are dialing down risk. Market sentiment is increasingly fragile after President Trump floated the idea of sweeping tariffs on over 150 countries, stirring up fears of a global trade backlash.

Which stocks are gaining the most today?

Even in a shaky market, a few standout stocks are surging:

• Oracle (ORCL): Jumped nearly +8% on the back of impressive earnings and stronger-than-expected AI-fueled cloud growth.
• Oklo (OKLO): Soared +29% after landing a major U.S. Air Force contract for nuclear microreactors.
• Voyager Technologies (VOYG): Spiked over +80% following its IPO debut.
• Quantum Computing Inc. (QUBT): Up +25%, driven by speculative interest in quantum tech.
• AngloGold Ashanti (AU): Gained +4% amid rising gold prices tied to global uncertainty.

What are the biggest losers in the stock market today?

Some notable names took a beating this morning:

• GameStop (GME): Fell -12% to -15% after announcing a convertible debt offering.
• Boeing (BA): Dropped nearly -8% following a crash involving one of its Dreamliner jets in India.
• Oxford Industries: Slid -10% after cutting earnings guidance, citing rising tariff-related costs.

What are the major movers in the S&P 500 and Dow today?

S&P 500 Highlights:

• Top Gainers:
  • Starbucks: +4.3%
  • Broadcom: +3.4%
  • Palantir, Devon Energy, CF Industries: All gained between 2%–3%.
• Top Losers:
  • Freeport-McMoRan, Skyworks, HP, Lockheed Martin, Intel: Each fell between 2%–6%.

Dow Jones Highlights:

• Rising Stocks:
  • UnitedHealth, IBM, Goldman Sachs, Microsoft: Up 0.4%–2.2%.
• Falling Stocks:
  • Amgen, Coca-Cola, Procter & Gamble, JPMorgan: Down 0.4%–0.7%.

What’s driving the market today?

1. Inflation Watch
   Investors are laser-focused on the upcoming Producer Price Index. A hotter-than-expected reading could shift expectations for future Fed moves.
2. Tariff Anxiety
   Trump’s renewed tariff threats—targeting over 150 countries—have sparked fears of another trade war, especially with China already on edge.
3. Geopolitical Risk
   Rising tensions in the Middle East and a Boeing crash in India are further spooking the markets.
4. Company-Specific News
   Oracle’s blowout cloud earnings and Oklo’s government contract are driving sharp gains, while GameStop’s new debt plans and Boeing’s incident are pulling them down.

Why are US stock futures falling before the inflation report?

Investors are closely watching the May wholesale inflation numbers, which are due later today. This data comes shortly after the release of consumer inflation figures that showed some cooling in price pressures—possibly linked to the “reciprocal” tariffs Trump introduced in April.
Wall Street is now focused on how the Federal Reserve might interpret this mixed economic data ahead of its upcoming policy meeting next week. There’s rising speculation about interest rate cuts in 2025, but most analysts believe the Fed will hold off for now and continue its wait-and-see strategy, watching how inflation evolves.

What did President Trump say about new tariffs?

President Trump escalated his trade rhetoric again this week, stating clearly that his administration will soon send letters to US trading partners outlining new unilateral tariff rates. Speaking at the Kennedy Center in Washington, Trump said, “At a certain point, we’re just going to send letters out… saying this is the deal, you can take it or leave it.”

This statement reinforces a tough stance that could affect ongoing trade talks and global supply chains. Trump’s latest comments make it clear the US is prepared to move forward with tariffs if other countries don’t agree to updated trade terms.

Will there be an extension of the current tariff pause?

According to Treasury Secretary Scott Bessent, it’s “highly likely” that some countries involved in trade negotiations will receive an extension of the current 90-day tariff pause, which is scheduled to end on July 9. However, no final decisions have been confirmed, and markets remain on edge about the outcomes of these trade talks.

The uncertainty has created added volatility in global markets and raised concerns among multinational businesses that rely on smooth trade relationships.

How are broader global concerns adding to market pressure?

Aside from US economic data and trade policy, rising tensions in the Middle East are also contributing to market anxiety. Investors are factoring in geopolitical risks alongside domestic policy uncertainty, which makes riskier assets like equities more vulnerable to pullbacks.

The S&P 500 (^GSPC) had seen gains earlier in the week, but worries about global instability and erratic tariff enforcement have clouded the recent optimism. Investors are now navigating a delicate balance of hopeful economic indicators and escalating geopolitical and policy risks.

What could this mean for the Federal Reserve’s next move?

The coming days will be crucial for the Fed’s decision-making. If inflation continues to ease—even amid tariff threats—it may give the central bank room to consider interest rate cuts later this year. But if trade tensions flare up again or inflation surges unexpectedly, the Fed may need to stay cautious.

For now, Wall Street will be watching the wholesale inflation numbers, the next statements from President Trump, and the Fed’s policy tone next week.

FAQs:

Q1: Why is the US stock market down today?
Because investors are nervous about inflation data and Trump’s renewed tariff threats.

Q2: What did Trump say about new tariffs?
Trump warned trading partners to accept new US tariff deals or face hikes.