Ferguson Enterprises Inc. Common Stock (FERG)

Wall Street posted modest midday gains on Tuesday, as investors digested the latest developments in President Donald Trump's trade policy agenda.

Ferguson Enterprises Inc. (FERG) shares rise on strong Q3 results, with net sales up 4.3% Y/Y and adjusted EPS beating consensus. Company also declares dividend and expects $100M in annualized savings.

U.S. stock futures fell on Tuesday after a higher close on Monday. Futures of major benchmark indices declined in premarket.

Trump's new tariffs trigger selloff, framed as correction to trade imbalance. China faces 37% duties, EU 20%, Japan 24%. Tech stocks hit hard.

Nasdaq 100 drops 0.6%, S&P 500 slides to 7-month low, Dow Jones industrials underperform.

Ferguson reported Q2 results. Net sales at $6.87 billion, up 3.0% Y/Y and beating consensus of $6.76 billion. Declares quarterly dividend of $0.83 and continues share repurchase program.

Large-cap stocks saw worst performance last week, including MongoDB, Applovin, CAVA, Super Micro Computer, FTAI, Adobe, Ferguson, Toll Brothers, BeiGene, Omnicom, and Nucor.

The U.S. stock market lacked direction on Tuesday morning as investors stayed on the sidelines ahead of Wednesday’s release of November inflation data, a critical report that could influence the Federal Reserve’s decision on a potential interest rate cut next week.