March S&P 500 E-Mini futures are down -0.05% and Nasdaq 100 E-Mini futures are down -0.14%, indicating a muted Wall Street open due to President Trump’s tariff threats against Canada and the risk of a U.S. government shutdown. Concerns are rising as a busy week begins.

President Trump threatens Canada with 100% tariffs on exports if they make a trade deal with China. Senate Democratic leader Chuck Schumer vows to block spending unless funding for DHS is removed. The market awaits tech earnings, the Fed’s decision, and U.S. economic data this week.

In Friday’s trading session, major equity averages closed mixed. Magnificent Seven stocks mostly climbed, with Microsoft and Amazon rising. Gold mining stocks advanced, with Newmont Mining and Freeport-McMoran gaining. Fortinet surged, but Intel tumbled after issuing disappointing guidance.

The U.S. January consumer sentiment index and manufacturing PMI beat expectations. Companies in the S&P 500 are expected to post an average +8.4% increase in Q4 earnings. Investors await reports from major companies like Microsoft, Apple, and Boeing this week.

Market participants focus on the Fed’s rate decision, with Chair Jerome Powell expected to keep rates unchanged. U.S. rate futures fully price in a 25-basis-point cut in July. Economic data and Fed officials’ remarks will be closely watched this week.

Germany’s Ifo Business Climate Index came in weaker than expected. Euro Stoxx 50 Index is down, with travel and defense stocks underperforming. Market watchers await Eurozone GDP and inflation data. China’s Shanghai Composite Index closed lower, with semiconductor stocks down.

Japan’s Nikkei 225 closed lower due to a rallying yen. Exporters led the declines as the yen appreciated. Japan’s leading index was weaker than expected. Japan’s economic data and BOJ minutes will be in focus this week.

Pre-market U.S. stock movers include chip stocks down, RVMD plunging, and USA Rare Earth soaring. Gold mining stocks climbed, with Netflix rising. Earnings spotlight includes Nucor, Brown&Brown, and Steel Dynamics. Today’s U.S. Earnings Spotlight features a variety of companies reporting.

Read more at Yahoo Finance: Stocks Set for Muted Open After Trump’s Tariff Threats, Big Tech Earnings and Fed Meeting in Focus