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U.S. stock futures point lower as investors continue to monitor tariff announcements from the White House after President Donald Trump said that decisions on tomorrow’s reciprocal tariffs have been made; OpenAI announces a $40 billion funding round led by Japan’s SoftBank that values the ChatGPT maker at $300 billion; Commerce Secretary Howard Lutnick reportedly warns firms that their CHIPS Act funding could be cut if they don’t increase U.S. investments; and Moderna (MRNA) shares are in focus after plummeting yesterday following the resignation of a top FDA official. Here’s what you need to know as an investor today.
- 1. US Stock Futures Point Down as Tariff Updates Approach
- 2. Trump Says He Is Settled On Reciprocal Tariffs Plan
- 3. OpenAI closes $40B funding round at $300B valuation
- 4. Lutnick Warns CHIPS Act Recipients about Potential Funding Cuts – Report
- 5. Moderna Stock in Focus After Sinking on FDA Vaccine Chief's Resignation
1. US Stock Futures Point Down as Tariff Updates Approach
Investors are waiting for tariff updates as U.S. stock indexes have recovered from Monday’s early losses. Dow Jones Industrial Average Futures are 0.6% lower today after the blue-chip index rose 1% yesterday. Nasdaq and S&P 500 futures are pointing lower by a similar percentage. Bitcoin (BTCUSD), which is trading above $84,000, is up 2%. Gold futures have reached a new all-time high and oil futures continue to rise. The yields on the 10-year Treasury bill are falling.
2. Trump Says He Is Settled On Reciprocal Tariffs Plan
Donald Trump announced that tariffs will be announced on “Liberation Day” tomorrow. The Wall Street Journal reported Trump’s decisions to impose a 20% tariff on U.S. imports, or apply reciprocal tariffs matching those on U.S. exported. The European Union (EU), on the other hand, has said that it is ready to impose retaliatory taxes on the U.S.
3. OpenAI closes $40B funding round at $300B valuation
OpenAI announced it has closed a $40 billion funding round that raises the ChatGPT parent's valuation to $300 billion. Japan's SoftBank is leading the founding round with up to $30 billion in investments, with another $10 billion coming from a syndicate. SoftBank's total investment depends on whether OpenAI transforms into a for-profit company before year's end. OpenAI said it would use the funding to "push the frontiers of AI research even further, scale our compute infrastructure, and deliver increasingly powerful tools."
4. Lutnick Warns CHIPS Act Recipients about Potential Funding Cuts – Report
Howard Lutnick is reportedly urging chipmakers who are set to receive federal funds to increase their U.S.-based production or face funding reductions. Bloomberg reported that Lutnick had warned firms that were receiving funding from the 2022 CHIPS Act to increase their U.S. investments or risk losing it. Lutnick cited the recent announcement made by Taiwan Semiconductor Manufacturing Company that it would invest $100 billion into U.S. based chip manufacturing facilities.
5. Moderna Stock in Focus After Sinking on FDA Vaccine Chief's Resignation
Moderna shares (MRNA) are in the spotlight today after plummeting following yesterday’s resignation of a senior U.S. healthcare official due to vaccine policy. Moderna shares fell by almost 9%, hitting a five-year high following the resignation yesterday of Peter Marks, the Food and Drug Administration’s chief vaccine officer, who cited conflict with Health and Human Services Secretary Robert F. Kennedy Jr. Moderna share prices are down 95% compared to their peak in August 2021, driven primarily by demand for COVID-19 vaccine.
