[U.S. Stocks Pre-market] Trump's new tariff policy triggers market shocks (2025.08.01)

Trump's tariff policy triggered market shocks. U.S. stock futures fell sharply before the market opened on August 1, mainly due to the new tariff policy announced by President Trump. The tariffs, which will take effect on August 7, impose higher rates on U.S. trading partners, stoking investor concerns about global trade tensions. S & P 500 futures fell about 1%, Dow Jones Industrial Average futures also fell, while Nasdaq futures fell 1.3%. At the same time, the 10-year U.S. bond yield rose, oil prices fell, and gold futures did not change much.

White House delays implementation of tariffs until August 7

Trump announced a series of new tariffs last night, postponing the implementation date to August 7. The United States reached deals with South Korea, Cambodia and Thailand before a deadline set by Trump, but extended negotiations with Mexico by 90 days. Trump accused Canada of failing to curb the flow of fentanyl into the United States and increased tariffs on it to 35%. At the same time, the White House's negotiations with China are close to reaching an agreement, which is crucial for the world's second-largest economy and an important trading partner of the United States.

Employment growth expectations slow

According to a survey of economists conducted by The Wall Street Journal and Dow Jones News, U.S. job growth is expected to slow in July, with the number of new jobs falling to 100,000 from 147,000 in June, the smallest increase since October last year. Unemployment is expected to rise slightly to 4.2% from 4.1%, a sign of caution among employers in hiring and layoffs.

Apple services revenue hits new high

Apple (AAPL) reported second-quarter results that exceeded analysts 'expectations, mainly because service revenue hit a new high. The company's earnings per share were $1.57, and revenue increased 10% year-on-year to $94.04 billion, both higher than Visible Alpha's consensus expectations. Apple's services revenue rose 13% to $27.42 billion, beating expectations. CEO Tim Cook said Apple expects tariffs to increase the company's costs by $1.1 billion this quarter, noting that the company's investment in artificial intelligence is growing significantly. Apple shares rose nearly 2% in pre-market trading.

Amazon's share price drops sharply due to poor cloud business performance

Although Amazon (AMZN)'s second-quarter results exceeded expectations, revenue from its cloud business failed to satisfy investors, sending its share price down 8% in pre-market trading. Amazon earned $1.68 per share, and revenue increased 13% year-on-year to $167.7 billion, exceeding Visible Alpha's consensus expectations. Amazon Web Services revenue rose 18% to US$30.9 billion, although it exceeded analyst expectations, but failed to meet investors 'expectations after Microsoft announced strong performance in its cloud business the day before.

Global market dynamics affect U.S. stock market opening sentiment

Major European and Asian stock markets underperformed before the opening of U.S. stocks, exacerbating negative sentiment. The Stoxx Europe 600 index fell 0.75%, affected by earnings from several companies. Uncertainty and geopolitical risks in global trade continue to affect investor sentiment, especially in the context of the Trump administration's reorientation of tariff policies. These factors will have an important impact on the opening trend of U.S. stocks.

Overall, investors need to pay close attention to the upcoming U.S. employment data and the further impact of Trump's new tariff policies. These factors will dominate the market trend in the short term, and investors should remain cautious and pay attention to market dynamics at any time.