Wall Street indexes closed higher on Wednesday, led by the tech-heavy Nasdaq as Nvidia briefly reached a $4 trillion valuation, and Federal Reserve meeting minutes fueled hopes that inflation pressures from President Donald Trump's tariffs would not derail interest rate cuts this year.

Dow Futures dropped early Friday after President Donald Trump announced a 35% tariff on all Canadian imports, effective August 1. The Dow Jones Industrial Average futures slid 305 points, or about 0.7%,

U.S. financial markets were uneven before the opening bell on Thursday, even as Delta Air Lines kicked off earnings season with solid results and an improved outlook for the rest of 2025.

With the deadline for tariffs now moved to August 1, investors are pinning their hopes on negotiations to stave off an all-out trade war. "Market volatility is likely to pick up, but the latest development does not constitute an escalation in the trade war," UBS analysts said.

Stocks are off to a sluggish start on Wall Street, while Delta Air Lines led a rally in airline stocks after releasing a solid outlook for the rest of 2025

Trump said that about “10 or 12” tariff letters would go out Friday, with additional letters coming “over the next few days.”

Global shares are mostly down on Friday after Wall Street closed at an all-time high with Delta Air Lines kicking off earnings season with a solid outlook for the rest of 2025, spurring an airline stock rally.

Dow Futures drifted lower on Thursday as Donald Trump’s tariff letters continued to dominate the narrative on Wall Street. Dow Jones futures traded 100 points lower at press time, while S&P and Nasdaq 100 futures also traded in red.

Futures on Wall Street have tanked in the early hours of Friday morning Indian time, after US President Donald Trump teased a 'major statement' he intends to make on Russia on Monday. The Dow futures are down over 200 points,