(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)

US equity futures were mostly lower pre-bell Tuesday, coming off a three-day weekend as traders assessed rising oil prices and Canada's retaliatory tariffs against the US.

Dow Jones Industrial Average futures were 0.7% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.2% higher.

Canadian tariffs, which were announced after trade talks with the US collapsed last month, took effect on Tuesday and range from 15% to 50%, impacting hundreds of US products, including dairy, agricultural equipment, paper, household appliances and electronics.

US President Donald Trump, in a Monday post on Truth Social, called for a boycott of Canadian aerospace manufacturer Bombardier, saying "If they want our Market, they must build here, and stop treating America like a 'piggybank'". In response, the company told CNBC that its workers are based all over the US, with sites in 10 states, while its aircraft are constructed using US-made components.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.1% at $98.04 per barrel and US West Texas Intermediate crude 1.7% higher at $93.01 per barrel.

The National Federation of Independent Business' monthly Small Business Optimism Index fell to a reading of 98.7 in August from 99.8 in July.

In other world markets, Japan's Nikkei closed 1.7% lower, Hong Kong's Hang Seng ended 0.4% lower, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was flat in Europe's early afternoon session.

In equities, Taiwan Semiconductor Manufacturing (TSM) and ASML (ASML) shares rose 1.8% and 3.8%, respectively, after the two companies said they are collaborating on a project to move chipmaking to larger numerical aperture extreme ultraviolet masks. Lockheed Martin (LMT) stock was up 1.3% after UBS upgraded the company's stock to buy from neutral and adjusted the price target to $674 From $581. Roivant Sciences (ROIV) shares were more than 20% higher after the company said its Pulmovant unit's phase 2 PHocus study of mosliciguat in patients with pulmonary hypertension associated with interstitial lung disease, or PH-ILD, met its primary and secondary endpoints.

On the losing side, Novartis (NVS) stock dropped more than 12% after the company said its phase 3 Harbor study evaluating delpacibart etedesiran in patients with myotonic dystrophy type 1 failed to meet its primary endpoint of video hand opening time. Novo Nordisk (NVO) shares fell 1.8% after a Reuters report on Monday that the company has stopped two additional trials of its experimental cardiovascular drug, ziltivekimab, after an independent committee found a low chance they would produce a different result from an earlier failed study. Boston Scientific (BSX) stock was down 1.4% after the company said it is unlikely to meet its net sales growth and adjusted EPS guidance ranges for the third quarter and full year 2026 after identifying a cybersecurity incident that resulted in a global disruption to its operations.