The benchmark US stock measures indicated an upward trend before the opening bell on Monday as investors remained vigilant for updates on President Donald Trump's tariff plan. The Standard & Poor's 500 rose by 0.4%, the Dow Jones Industrial Average increased by 0.2%, and the Nasdaq added 0.5% in premarket activity.
Many Asian exchanges experienced upward momentum, while European bourses generally tracked in the green. Trump's tariff plan aimed at Canada and Mexico is set to take effect on March 4. US Commerce Secretary Howard Lutnick mentioned on Sunday that the present situation is 'fluid', and the level of tariffs will ultimately be determined by Trump himself.
Shares of Strategy, previously known as MicroStrategy, experienced a notable jump of 12% before the market opened, while Coinbase Global saw an increase of 9.6%. Tesla's shares gained 2.5%, albeit Nvidia recorded a slight downturn of 1%. Several companies are expected to report their latest financial results ahead of the market opening, including TG Therapeutics, California Resources, Burford Capital, Surgery Partners, and Nomad Foods, among others.
Post-market earnings reports are anticipated from Okta, GitLab, and NuScale Power. From an economic standpoint, the final purchasing managers' manufacturing index for February is set to be released at 9:45 am ET, followed by the Institute for Supply Management's manufacturing index for the same month at 10 am.
Similarly, the report on construction spending for January is also due at 10 am. Moreover, Federal Reserve Bank of St. Louis President Alberto Musalem is scheduled to address the audience at 11:35 am, adding to the day’s economic discussions. Before the market opened, Bitcoin saw a decline of 1.7%, settling at $92,533.
West Texas Intermediate crude oil inched up by 0.1%, reaching $69.81 a barrel. Additionally, yields on 10-year Treasuries increased by 2.5 basis points to 4.25%, while gold prices rose by 1.2% to $2,883 an ounce. Various stock ticker symbols were noted throughout the market fluctuations, including $US30, $US500, $MSTR, $COIN, $TSLA, $NVDA, $TGTX, $CRC, $BUR, $SGRY, $NOMD, $OKTA, $GTLB, and $SMR..