Stock Market Update

The stock market is on track for a lower opening this morning as investors brace for an escalation in trade tensions between the U.S. and Europe. 

President Trump has called for a 10% tariff on imported goods from eight NATO members effective February 1, before rising to 25% on June 1 if a deal for the U.S. to acquire Greenland has not been reached, with the UK, Germany, and France chief among them.

Stocks are poised for a broadly lower opening this morning, with particular weakness in mega-cap names amid a clear "risk off" tone to start the week.

Separately, the U.S. Supreme Court could rule on the legality of President Trump's IEEPA tariffs this morning.