Tariffs, Inflation Outlooks Temper Wall Street Pre-Bell; Asia, Europe Down

07:12 AM EDT, 03/28/2025 (MT Newswires) -- Wall Street futures inched lower pre-bell Friday, as traders digested the Trump Administration's 25% auto tariffs and the pending "reciprocal" broad-impact import levies slated for next week.

The February personal consumption expenditure core inflation index, or PCE-core, is slated for an 8:30 am ET release in Washington, with analysts projecting a 2.7% on-year rise in the Federal Reserve's preferred inflation metric.

In the futures, the S&P 500 was flat, the Nasdaq declined 0.1% and the Dow Jones was steady.

Gold again struck fresh-record all-time highs in morning action, topping $3,070 an ounce.

Asian exchanges traded lower overnight on international trade concerns, while European bourses tracked moderately south midday on the continent.

Lululemon Athletica (LULU) declined 12.6% pre-bell after the athletic apparel retailer reported weaker-than-expected Q4 sales and issued tempered guidance after-bell Thursday.

On the economic calendar, in addition to the PCE-core report, is the University of Michigan consumer sentiment report for March at 10 am, followed by the Baker Hughes domestic oil-and-gas rig count at 1 pm.

Federal Reserve Vice Chair Michael Barr speaks at 12:15 pm, and Atlanta Fed President Raphael Bostic at 3:45 pm.

In pre-market action, bitcoin traded at $85,226, West Texas Intermediate crude oil traded lower at $69.82, and 10-year US Treasuries offered 4.33%. Spot gold traded for $3,074 an ounce.

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