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Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
U.S. stock index futures edged higher on Sunday evening as investors engaged in dip-buying after steep losses on Friday. The market initially reacted negatively to President Donald Trump’s announcement of new tariffs on steel and aluminum but rebounded on hopes that they serve as a negotiating tool. Gains remained limited ahead of key U.S. inflation data due this week.
S&P 500 Futures climbed 0.3% to 6,064.25 points, Nasdaq 100 Futures gained 0.4% to 21,668.25 points, and Dow Jones Futures inched up 0.1% to 44,481.0 points as of 19:34 ET (00:54 GMT).
Trump reaffirmed plans to impose a 25% tariff on all steel and aluminum imports starting Monday, following the recent enactment of a 10% tariff on China. The move will primarily affect Canada, Brazil, and Mexico, the largest steel exporters to the U.S. While some investors hope for relief measures for U.S. allies, the new duties add to existing tariffs from his first term, which the Biden administration had previously scaled back.
The announcement follows Friday’s market slump, where the S&P 500 fell nearly 1% to 6,025.99 points, the Nasdaq Composite dropped 1.4% to 19,523.40 points, and the Dow Jones slid 1% to 44,303.40 points. Analysts warn that the tariffs could drive inflation higher, adding pressure on the Federal Reserve to maintain elevated interest rates.
Investors now await January’s Consumer Price Index data on Wednesday, expected to show persistent inflation, influencing Fed policy decisions. Additionally, key earnings reports from McDonald's (NYSE:MCD), Vertex Pharmaceuticals (NASDAQ:VRTX), Coca-Cola (NYSE:KO), and S&P Global (NYSE:SPGI) are on the radar, which could further impact market sentiment.
