Here are the most important news items that investors need to start their trading day:
1. May flowers wilt
U.S. stock futures fell Monday to kick off June, following a strong performance for equities in May. The S&P 500 rose 6% for May, its best monthly performance since November 2023. The Nasdaq Composite jumped 9% for the month, while the Dow Jones Industrial Average climbed 4%. Investors will be watching tariff developments after a wave of news in recent days. Tensions between the U.S. and China climbed again, President Donald Trump said he would double duties on steel to 50% and an appeals court paused a ruling that would have scrapped many of his administration’s levies on imports. The May jobs report due Friday will offer more clarity on how the U.S. economy has weathered Trump’s unpredictable trade policy. Follow live market updates.
2. Pointing fingers
U.S. Trade Representative Jamieson Greer, U.S. Secretary of the Treasury Scott Bessent, Chinese Vice Premier He Lifeng, and China’s International Trade Representative and Vice Minister of Commerce Li Chenggang pose, at a bilateral meeting between the U.S. and China, in Geneva, Switzerland, May 10, 2025.
Keystone/eda/martial Trezzini | Via Reuters
3. Steel curtain
U.S. President Donald Trump delivers remarks at U.S. Steel Corporation–Irvin Works in West Mifflin, Pennsylvania, U.S., May 30, 2025.
Leah Millis | Reuters
China was not the only front where trade tensions increased. Trump on Friday threatened to impose the steep 50% tariff on steel imports as he lauded his approval of U.S. Steel’s merger with Japan’s Nippon. He said the increase would take effect on Wednesday – though he has repeatedly set effective dates for tariffs and then rescinded them. He said the duties would “further secure” the U.S. steel industry. “At 25%, they can sort of get over that fence,” Trump said. “At 50%, they can no longer get over the fence.” The European Union criticized Trump’s move, as a spokesperson said it “undermines” efforts to reach a trade agreement. The bloc is “prepared to impose countermeasures,” the spokesperson added.
4. Buffett line
5. Rarefied air
American Airlines new business-class suite.
American Airlines
The business class airline seat is getting even cushier. With perks like privacy and caviar, carriers are competing to draw more high-income travelers. American Airlines will soon debut upgraded business class “suites” that feature sliding doors and a wireless charging pad, among other amenities. The bets on high-end seating come as the industry tries to protect thin profit margins. As demand for domestic coach seats falls, executives hope wealthier travelers will keep shelling out for premium experiences.
– CNBC’s Sean Conlon, Anniek Bao, Erin Doherty, Spencer Kimball, Jason Gewirtz and Leslie Josephs contributed to this report.
