U.S. stock index futures were lower on Tuesday after President Donald Trump's comments on potential pharma tariffs renewed worries of the impact of a trade war, while some downbeat corporate results also weighed on investor sentiment.

Market Snapshot

At 7:50 a.m. ET, Dow e-minis were down 223 points, or 0.54%, S&P 500 E-minis were down 37.5 points, or 0.66%, and Nasdaq 100 E-minis were down 181.25 points, or 0.90%.

Pre-Market Movers

Palantir Technologies was falling 7.4% in premarket trading. The data analytics company reported first-quarter adjusted earnings of 13 cents a share, in line with analysts' expectations, on revenue of $884 million that rose 39% from a year earlier and beat forecasts of $862 million. Palantir also raised its raised its full-year outlook. "We are delivering the operating system for the modern enterprise in the era of [artificial intelligence]," said CEO Alexander C. Karp. "Consequently, we are raising our full-year guidance for total revenue growth to 36% and our guidance for U.S. commercial revenue growth to 68%." Coming into the earnings report, Palantir shares had risen 65% in 2025.

Ford Motor was down 2% in premarket trading after the auto maker posted first-quarter earnings that beat analysts' estimates but suspended guidance for the full year because of uncertainty over President Donald Trump's tariffs on its business. The company expects tariffs to reduce adjusted pretax earnings by $1.5 billion. Ford's electric-vehicle business posted a loss of $800 million in the quarter.

Fellow auto makers also traded lower. General Motors was down 0.7% and Jeep maker Stellantis declined 1.7%. Electric-vehicle maker Tesla fell 1.5% in premarket trading. It has declined 31% this year.

Robotaxi company Pony AI Inc. will partner with ride hailing giant Uber Technologies Inc. to launch in the Middle East this year, as the auto industry’s push into autonomous driving gathers pace. Pony AI Inc shares surged 9.8% in premarket trading.

Gold shares rose in premarket trading. Harmony Gold, Anglogold up more than 3%. Gold prices rose to a two-week high as concerns over U.S. President Donald Trump's tariff plans boosted interest in the safe-haven metal, while investors awaited the Federal Reserve policy meeting on Wednesday. Spot gold gained 1.36% to $3,379.7 an ounce, after hitting its highest since April 22 earlier in the session.

Class B shares of Warren Buffett's Berkshire Hathaway's were up 0.2% in premarket trading. Shares of the conglomerate fell 5.1% on Monday following Buffett's announcement over the weekend that he would be stepping down as CEO at the end of the year and after Berkshire's first-quarter earnings missed analysts' expectations. The drop Monday was Berkshire's worst post-earnings performance since Aug. 8, 2011, when it fell 6.5%, according to Dow Jones Market Data.

Vertex Pharmaceuticals posted first-quarter adjusted profit of $4.06 a share, below estimates of $4.32. Revenue of $2.77 billion also missed analysts' estimates of $2.85 billion. The stock fell 5.4%.

Clorox tumbled 2.8% after the cleaning-products maker reported fiscal third-quarter adjusted earnings that missed analysts' estimates as revenue fell 8% to $1.67 billion. The company also updated its fiscal-year guidance to "reflect recent changes in the macroeconomic and geopolitical environment" and the "impact of tariffs on earnings." Clorox said for fiscal 2025 it expects sales down 1% to flat, compared with a prior outlook of down 1% to up 2%.

Hims & Hers Health, the health and wellness company, reported first-quarter earnings that topped Wall Street estimates. But the company introduced long-term sales guidance that was lower than expectations and the stock fell 5.9%. For the second quarter, Hims & Hers expects revenue of between $530 million to $550 million, compared with expectations of $564.6 million.

Constellation Energy, the largest producer of carbon-free energy in the U.S., declined 5.1% after reporting first-quarter earnings that missed analysts' expectations.

Neurocrine Biosciences jumped 12%. First-quarter revenue at the biopharmaceutical company of $572.6 million beat estimates of $559.6 million. Sales of Ingrezza, a treatment for movement disorders, rose 8% from a year earlier to $545 million.

Upwork rose 10% after the platform for freelancers posted first-quarter earnings and revenue that topped Wall Street expectations.

Celsius Holdings fell 4.9% after the energy-drink maker posted first-quarter adjusted earnings and revenue that missed analysts' forecasts.

Market News

China Plans Wednesday Briefing on Market Stabilization Measures

China’s central bank and financial regulators will hold a press briefing on Wednesday to discuss policies aimed at stabilizing markets, as the country’s economic outlook comes under increasing threat from US tariffs.

Officials from the People’s Bank of China, the National Financial Regulatory Administration and the China Securities Regulatory Commission will speak at 9 a.m. local time about “a financial policy package to stabilize market and expectations,” according to a government notice on Tuesday.

EU Targets €100 Billion of US Goods With Tariffs If Talks Fail

The European Union plans to hit about €100 billion ($113 billion) in US goods with additional tariffs in the event ongoing trade talks fail to yield a satisfactory result for the bloc, according to people familiar with the matter.

The proposed retaliatory measures will be shared with member states as early as Wednesday and consultations will last for a month before the list is finalized, said the people, who spoke on the condition of anonymity because the plans are private. The list could change in that time.