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5 things to know before the stock market opens Monday

Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024.
CNBC
  • Investors are watching the details of President Donald Trump's tariff plans, along with the February jobs report and retail earnings this week.
  • Warren Buffett called tariffs a tax on goods.
  • The Trump administration plans to establish a strategic crypto reserve.

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Here are the most important news items that investors need to start their trading day:

1. March mayhem

After a February slide, U.S. stocks only face more uncertainty this week. Stock futures climbed Monday as investors tried to decipher what President Donald Trump's final tariff plan will look like. Duties of up to 25% on imports from Mexico and Canada are set to take effect Tuesday – though Commerce Secretary Howard Lutnick suggested that the administration could reduce the rate. Concerns about how tariffs will affect household spending have added to broader fears that the U.S. economy is slowing. The February jobs report due Friday and a handful of major retail earnings this week will provide more insight into the economic picture. For February, the S&P 500 dipped 1.4%, the Dow Jones Industrial Average fell 1.6% and the Nasdaq Composite shed 4%. Follow live market updates.

2. Buffett burns tariffs

Legendary investor Warren Buffett criticized Trump's tariff plans, saying they will raise costs for consumers and fuel inflation. "Over time, they are a tax on goods. I mean, the Tooth Fairy doesn't pay 'em!" Buffett said in an interview with CBS News. The comments come as the Trump administration tries to tamp down worries that the duties will make it harder for U.S. households to afford essential goods, from cars and gas to building supplies, french fries and avocados. Treasury Secretary Scott Bessent argued to CBS that the duties will not fuel inflation.

3. Shopping snapshot

Retail earnings this week will offer a view into how major companies think tariffs could affect their pricing and their businesses. Business from Target to Costco and Abercrombie & Fitch will give insight into the consumer health and how executives think tariffs could affect spending on groceries, household goods and apparel. With 94% of S&P 500 companies reporting fourth-quarter results as of last week, earnings had climbed 16.9% from the prior year, while revenue had risen 5.2%. Here are the major reports to watch:

4. Crypto stash

Trump announced the creation of a strategic crypto reserve, as his administration offers full-throated support for the industry. Trump said a working group would create the reserve, as he tries to "make sure the U.S. is the Crypto Capital of the World." The fund will include the most well-known coins like Bitcoin and ether, as well as others like XRP and Solana's SOL. Critics have questioned the move due to the volatility of some of the assets included.

5. All in on "Anora"

Carlos Barria | Reuters
Director Sean Baker accepts the Oscar for Best Picture for "Anora" as producers Producer Samantha Quan and Alex Coco, and Best Actress in a Leading Role winner Mikey Madison look on during the Oscars show at the 97th Academy Awards in Hollywood, Los Angeles, California, U.S., March 2, 2025.

"Anora" was the big winner at the Oscars. The film from writer and director Sean Baker took five awards: best picture, best director, best original screenplay, best editing and best actress for Mikey Madison. Other winners of top prizes included Adrien Brody for best actor, Zoe Saldana for best supporting actress and Kieran Culkin for best supporting actor. The awards were streamed on Hulu, which cut out for some users before the night's biggest awards.

– CNBC's Alex Harring, Yun Li, Annie Palmer, Robert Hum, Tanaya Macheel, Sarah Whitten, Sara Salinas and Russell Leung contributed to this report.

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