Dow Futures are experiencing a slight decline as market participants assess trade-related announcements from President Donald Trump while anticipating upcoming corporate earnings reports and central bank policy decisions later this week. A metric of services activity in the U.S. is set to be released later in the session, potentially offering valuable insights into the condition of a crucial sector for the American economy. Elsewhere, Berkshire Hathaway CEO and legendary investor Warren Buffett has stated he will step aside at the end of the year, handing the reins of the conglomerate over to Vice Chairman Greg Abel. Oil prices decline following the announcement from the OPEC+ producer group regarding plans to boost output in the upcoming months.

U.S. stock futures experienced a slight decline on Monday, as market participants scrutinized Trump’s remarks regarding trade negotiations with China while also concentrating on an upcoming series of corporate earnings reports and central bank communications scheduled for this week. As of 03:30 ET, the Dow Futures contract experienced a decline of 279 points, representing a decrease of 0.7%. Concurrently, S&P 500 Futures saw a reduction of 43 points, equating to a drop of 0.8%, while Nasdaq 100 Futures fell by 154 points, also reflecting a decrease of 0.8%.

The principal indices experienced an uptick in the previous session, supported by data indicating job growth in April that exceeded expectations, while the unemployment rate remained stable at 4.2%. The data emerged following a preliminary report from the Commerce Department indicating that the U.S. economy contracted in the first quarter, primarily due to a tariff-induced increase in imports. Meanwhile, China indicated that it was considering an offer to engage in discussions regarding Trump’s substantial 145% tariffs. In response to the measure, Beijing has implemented duties of 125% on imports from the United States.

This week, analysts will meticulously examine additional economic data alongside interest rate decisions from the Federal Reserve, the Bank of England, and other central banks. Results are also due out from a plethora of companies, including Ford Motor, Advanced Micro Devices, Walt Disney, ConocoPhillips, and Coinbase. On Monday, the economic calendar will feature the Institute for Supply Management’s non-manufacturing purchasing managers’ index for April. The upcoming reading is expected to indicate a slight cooling in activity within the services sector in the U.S., which serves as a significant engine for the world’s largest economy. Nonetheless, it is anticipated to stay above 50 points, which serves as the critical threshold between expansion and contraction.

“There’s a very real risk this dips into contraction territory, which would underscore the sense that the economy is cooling and recession is a realistic possibility,” stated James Knightley, Chief International Economist at ING, in a note. Concerns have emerged regarding the potential repercussions of Trump’s stringent tariffs on the U.S. economy, particularly in light of the unsatisfactory gross domestic product figures released last week. Economists have indicated that the tariffs may elevate inflationary pressures and could potentially pull the wider economy into a recession.

The ISM data could influence the considerations of Federal Reserve officials as they prepare for their imminent rate decision this week. In light of persistent pressure from Trump to reduce borrowing costs in order to bolster growth, remarks from Fed Chair Jerome Powell suggest that the central bank is poised to maintain its current monetary policy stance.

Warren Buffett has indicated that he plans to relinquish his leadership role at the conglomerate by the conclusion of 2025, with vice chairman Greg Abel poised to take over the reins. The announcement over the weekend marks a significant conclusion to the 94-year-old Buffett’s extensive tenure at Berkshire, during which he transformed the company from a textiles operation into a $1.18 trillion behemoth, with investments spanning a diverse range of sectors from insurance to ice cream. In the process, Buffett has established himself as one of the most esteemed and respected investors globally, earning the title “Oracle of Omaha,” a nod to the Nebraska city that serves as the headquarters for Berkshire.

Buffett’s decision was unexpected, as he had not indicated any prior intention to step down. Abel, 62, is tasked with meeting the benchmarks established by Buffett, yet he indicated that his strategy for managing subsidiaries would be “more active.” In the first quarter, Berkshire experienced a 14% decline in operating earnings compared to the previous year, amounting to $9.64 billion. This downturn can be largely attributed to insurance losses associated with the catastrophic wildfires in California. Berkshire shares experienced a decline of over 2% in premarket U.S. trading on Monday.

On Sunday, Trump indicated that he would not engage in discussions with Chinese President Xi Jinping this week, while acknowledging that U.S. officials had maintained communication with Beijing. Recent speculation has centered on potential discussions between the U.S. and China, as the world’s two largest economies impose tariffs on each other, which pose a significant risk to trade flows. During a conversation aboard Air Force One on Sunday, Trump indicated that he was engaged in discussions with China and several other nations regarding trade agreements. However, he emphasized that his primary focus was to conclude a deal with Beijing, which has emerged as a key target in his initiative to implement increased tariffs during the initial phase of his second term in office. Chinese officials have indicated that they are “evaluating” an offer from Washington to discuss the matter, while advising the U.S. against engaging in “extortion and coercion”.

Oil prices experienced a significant decline on Monday following indications from the OPEC+ producer group over the weekend that it plans to boost output in the upcoming months. The outlook of increased supplies coupled with diminishing demand has adversely affected crude, which has been grappling with significant losses in the early part of 2025. Monday’s losses brought oil prices closer to the four-year low observed in early April. Brent oil futures for June decreased by 2.0%, settling at $60.05 per barrel, whereas West Texas Intermediate crude futures experienced a decline of 2.1%, reaching $56.59 per barrel as of 03:34 ET. The Organization of the Petroleum Exporting Countries and its allies, collectively referred to as OPEC+, which constitutes a significant portion of global oil production, reached a consensus to increase output by 411,000 barrels per day starting in June during a meeting held over the weekend. The recent increase is almost threefold the volume originally indicated by OPEC+, with significant member states Saudi Arabia and Russia poised to boost production levels.