Morning Movers: Target, Best Buy slipping after earnings as tariffs take effect

U.S. stock index futures are pointing lower following yesterday’s selloff on Wall Street as President Donald Trump imposed tariffs on Canada, China and Mexico that could intensify a global trade war. Trump’s new 25% tariffs on imports from Mexico and Canada took effect, along with a doubling of duties on Chinese goods to 20%, launching new trade conflicts with the top three U.S. trading partners, two of whom are retaliating already as China and Canada have announced responses.

In commodities, gold prices are extending gains, driven by safe-haven demand, while oil prices are lower due to a planned output increase promised by OPEC+.

In pre-market trading, S&P 500 futures fell 0.7%, Nasdaq 100 futures fell 0.9% and Dow futures fell 0.3%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly.

UP AFTER EARNINGS –

• Sea Limited (SE) up 6%
• On Holding (ONON) up 3%
• CPI Card Group (PMTS) up 1%
• L.B. Foster (FSTR) up 1%
• Okta (OKTA) up 12%

DOWN AFTER EARNINGS –

• Y-mAbs Therapeutics (YMAB) down 14%
• Paysafe (PSFE) down 13%
• InfuSystem (INFU) down 6%
• Target (TGT) down 2%
• AutoZone (AZO) down 2%
• Best Buy (BBY) down 1%

LOWER –

• Illumina (ILMN) down 5% after Reuters reported China said it would ban imports of genetic sequencers from the U.S. medical equipment maker