S&P futures are pointing to a slightly lower open, down (0.27%), as markets remain cautious ahead of a key tariff announcement from the White House. Markets are bracing for President Trump’s announcement of reciprocal tariffs, expected Wednesday 3 PM. Speculation surrounds whether tariffs will apply broadly or be targeted by country or sector. Additionally, the U.S.-China Phase One trade deal is under review, with potential outcomes including new tariffs, export controls, or revoking China’s special trade status. European equity markets are advancing in early trades, while Asian equities mostly ended higher, recovering some of Monday’s losses.

Companies Mentioned: Chevron, Becton Dickinson, Johnson & Johnson, OpenAI