Stock Market Opens Under Pressure as Tariff Risk Slams TSLA, MU
Nasdaq, S&P 500, Dow open mixed; retail and chip stocks fall premarket on trade fears | That's TradingNEWS
Nasdaq and S&P 500 Futures Waver as Earnings and Tariffs Set Market Tone
Dow, Nasdaq, S&P 500 Eye Mixed Open Amid Global Macro Tensions
Nasdaq futures were flat while S&P 500 futures dipped 0.2% ahead of the U.S. market open as Wall Street braces for a slew of earnings and fresh trade policy headlines. Dow futures slipped roughly 0.3%, dragged lower by industrials and tariff-sensitive components. Investors remain on edge following U.S. threats to impose new levies on Chinese electric vehicles, as well as a 50-day deadline issued to Russia over LNG and energy exports.
Trump’s Tariff Wave Targets Chinese EVs and Russian Energy
The White House is reportedly considering tariffs on over $18 billion worth of Chinese electric vehicles and lithium-ion batteries, a move that could provoke retaliation and squeeze margins for U.S. multinationals with China exposure. Tesla (NASDAQ:TSLA) slid 1.8% in premarket trading, pricing in reduced cost advantage on Chinese battery imports. Meanwhile, energy-sensitive stocks like Chevron (NYSE:CVX) and ExxonMobil (NYSE:XOM) moved higher premarket amid expectations of constrained Russian supply.
Tech Caution Dominates Premarket: TSLA, AAPL, SMCI Mixed
Apple (NASDAQ:AAPL) dipped 0.6% ahead of the open, reversing two days of gains despite robust App Store and iPhone sales trends in Asia. Meanwhile, Super Micro Computer (NASDAQ:SMCI) was volatile, shedding 2.3% in premarket after surging 12% Tuesday on new AI infrastructure deals with Meta. The selloff likely reflects profit-taking ahead of earnings. Nvidia (NASDAQ:NVDA) held near flat after a 3% rally Tuesday, with traders cautious ahead of this week’s AI conference remarks.
Retail Under Pressure: TGT, WMT Slide on Consumer Pullback
Target (NYSE:TGT) fell 1.5% in premarket trading following warnings of softer July comps, citing weakening discretionary spend in apparel and electronics. Walmart (NYSE:WMT) was down 0.8% despite beating on June same-store sales, as forward guidance came in light relative to consensus.
Trump Tariffs Impact Semis and EV Chains: MU, ONON, NIO React
Micron (NASDAQ:MU) lost 1.7% premarket as chipmakers with Chinese production remain under scrutiny. ON Semiconductor (NASDAQ:ON) dropped 2.4% on fears of supply chain costs surging from new levies. China-based NIO Inc. (NYSE:NIO) sank over 3% in Frankfurt as traders priced in possible retaliatory measures that could target U.S. automakers and chip exports.
Treasury Yields Hold, Dollar Gains as CPI Looms
10-year Treasury yields held steady at 4.18%, while the U.S. Dollar Index climbed to 104.2, with FX traders positioning ahead of Thursday’s CPI release. A hot inflation print could rekindle rate hike bets and pressure risk assets. Gold (XAU/USD) eased toward $2,358, while Bitcoin (BTC-USD) retraced to $71,250 after hitting a $73K peak Tuesday.
Buy/Sell/Hold Calls
TSLA: Sell – China tariff risk rising, premarket downtrend confirms reversal setup. SMCI: Hold – Post-surge consolidation expected ahead of earnings. NVDA: Hold – Sideways chop likely into conference catalysts. AAPL: Hold – Profit-taking expected, but fundamentals remain strong. TGT: Sell – Discretionary demand weakening; downside momentum intact. WMT: Hold – Guidance cautious despite strong past quarter. MU: Sell – China exposure and trade fragility outweigh near-term upside. ON: Sell – Supply chain margin risk rising. NIO: Sell – Retaliation risk in China could be severe. XOM/CVX: Buy – Rising on geopolitical premium and energy policy shifts.
