Investors should be aware of five key points as the trading day begins:
1. Stock futures are showing gains on Friday, marking the end of a challenging month for the markets. The S&P 500 and the Dow Jones Industrial Average have each declined by nearly 3%, while the Nasdaq Composite has fallen over 5.5%. Today’s release of the personal consumption expenditures price index, the Federal Reserve’s preferred inflation measure, is awaited.
2. President Donald Trump intends to enforce a 25% tariff on goods from Canada and Mexico starting Tuesday. Additionally, a new 10% tariff on Chinese goods will take effect on the same day, adding to the 10% tariff already imposed earlier this month. Trump cited, without evidence, an increase in illegal drug imports from these countries. China’s Ministry of Commerce has vowed to respond as necessary.
3. The Consumer Financial Protection Bureau has recently dismissed at least five enforcement lawsuits. Cases against Capital One, a loan servicer, and units of Berkshire Hathaway and Rocket Companies were dropped by the agency’s new leadership. This move aligns with the apparent scaling back of the consumer protection agency. Trump’s nominee to lead the CFPB faced Senate questioning about its future.
4. Trump’s proposed $5 million “gold card” visa could provide a tax advantage to wealthy individuals. This visa would grant permanent U.S. residency and a pathway to citizenship without requiring cardholders to pay income taxes on overseas earnings, unlike American citizens. Experts note this represents a significant shift in U.S. tax law.
5. Rising egg prices are affecting the Easter egg dyeing industry. Companies producing Easter egg dye kits are concerned about lower sales if prices do not improve before the holiday. For some businesses, these products represent a substantial revenue source. — news from CNBC