Futures Pointing To Initial Pullback On Wall Street

(RTTNews) - Stocks may to move to the downside in early trading on Tuesday, giving back ground after turning in a strong performance in the previous session. The major index futures are currently pointing to a lower open for the markets, with the S&P 500 futures down by 0.4 percent. Lingering concerns about a global trade war may weigh on Wall Street after President Donald Trump officially announced tariffs on U.S. steel and aluminum imports. A statement from the White House said Trump is reinstating a 25 percent tariff on steel imports and increasing tariffs on aluminum imports to 25 percent. Early trading is also likely to be impacted by reaction to congressional testimony by Federal Reserve Chair Jerome Powell.