On May 6, US stock indices opened lower amid uncertainty over tariffs.
Stock Market Opens Lower
The S&P 500 slid 0.8%, while Dow Jones Industrial Average futures dropped more than 300 points, or roughly 0.6%. The Nasdaq Composite shed over 1.1%, leading early losses in the stock market. Shares of Nvidia, Meta Platforms, and Tesla opened more than 1% lower.
Insights from Investment Experts
Billionaire hedge fund manager Paul Tudor Jones expressed his belief that the stock market could dip further, even if President Trump tones down the tariff approach. He noted: "It’s pretty clear. You have Trump who’s locked in on tariffs. You have the Fed who’s locked in on not cutting rates. That’s not good for the stock market… We’ll probably go down to new lows."
Focus on Economic Data and Earnings Reports
Investors are awaiting the Federal Reserve meeting, with the expectation of unchanged interest rates. Key will be comments from Fed Chair Jerome Powell. Economic data and the trade situation are crucial for assessing market trends.
The current situation in the stock market remains uncertain, with potential further declines amid tariff pressures and the anticipation of Federal Reserve decisions.
