Steel Surge: Markets React to New Tariff Plans

U.S. stock index futures rose on Monday after last week’s declines, led by steelmakers following President Trump's announcement of increased tariffs on steel and aluminum imports. Major indexes saw modest gains, while other sectors like technology and telecommunications also showed positive movements.

U.S. stock index futures climbed on Monday, rebounding from last week's downturn, with steel manufacturers spearheading the advance after President Donald Trump declared additional tariffs on steel and aluminum imports.

Trump's trade escalation, announced on Sunday, includes 25% tariffs on all steel and aluminum imports into the U.S. U.S. Steel shares soared over 5% in premarket trading amid talks of a potential buyout, while shares of other steel producers like Cleveland-Cliffs and Nucor saw even higher gains. Aluminum giant Alcoa also rose.

Major indexes increased slightly, with technology firms like Microsoft and Meta showing growth. McDonald's shares rose amidst a steeper drop in U.S. sales, and T-Mobile surged on new testing of its satellite-to-cell service. Key economic indicators are anticipated this week, amidst the Federal Reserve's rate hold expectations.

(With inputs from agencies.)