Follow all the latest U.S. market action for Tuesday here as investors get ready for testimony from Fed Chair Jerome Powell, a day ahead of the next inflation report.

Investors are braced for more Trump tariffs as focus turns to inflation and Fed Chair Jerome Powell's Senate testimony.

U.S. stock futures dipped in premarket trading on Tuesday after President Trump moved forward with his threat to impose 25% tariffs on steel and aluminum imports.

The Dow was on pace for a 0.4% weekly gain, while the S&P 500 was up 0.5% so far and the Nasdaq Composite was 0.7% higher through Thursday, according to FactSet. The blame for the Dow being down so much, while the S&P 500 and Nasdaq are rising, can be put on two stocks, those of Honeywell and Salesforce.

Wall Street is trending lower before the opening bell Tuesday following new tariffs announced by the White House. There are also more corporate earnings arriving ahead of the appearance of Federal Reserve Chair Jerome Powell,

U.S. stocks are drifting Tuesday following President Donald Trump’s latest escalation against the United States’ trading partners with tariffs.

Wall Street is taking President Donald Trump’s latest threat on tariffs in stride, on the whole, and U.S. stocks are drifting higher on Monday. The S&P 500 was up 0.4% in early trading, coming off a losing weekbookended by worries about how potential tariffs could push up inflation and threaten the economy.