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Futures down: Dow 0.51%, S&P 500 0.38%, Nasdaq 0.32%

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PVH rises after upbeat annual forecast

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J&J falls after judge rejects $10 bln baby powder

settlement

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JOLTS, ISM manufacturing data due at 10:00 a.m ET

(Updates with prices before the opening bell)

By Sruthi Shankar and Pranav Kashyap

April 1 (Reuters) - U.S. stock indexes were on track to

open lower on Tuesday, marking a gloomy start to the quarter, as

investors braced for the impending storm of sweeping tariff

announcements from the Trump administration.

President Donald Trump is set to unveil "reciprocal

tariffs", aligning U.S. duties with those of other nations on

April 2. He said on Sunday the levies will include all countries

but specific details were scant.

The specter of economic disruption from the tariffs coupled

with aggressive AI investments by tech firms left Wall Street

reeling in the first quarter. The benchmark S&P 500

closed the quarter 4.6% lower, marking its most dismal

three-month stretch since July 2022.

Futures dipped on Tuesday after the Washington Post reported

White House aides have drafted a proposal to impose tariffs of

around 20% on most imports to the United States.

The formal announcement is slated for 3 pm ET on Wednesday,

U.S. Treasury Secretary Scott Bessent told Fox News on Monday.

"Investors are on the sidelines because it's impossible to

get any kind of clear compass reading on the direction of the

economy until these tariffs are finalized," said Peter Andersen,

founder of Andersen Capital Management.

"The market is going to sway back and forth, but with a bias

to the negative side, because this is making it very difficult

for CEOs of companies to make any kind of estimates."

Manufacturing activity surveys for March and the JOLTS job

openings report later today could provide insights into the

ripple effects from the tariffs on the U.S. economy and the

Federal Reserve's trajectory on monetary policy.

By 8:17 a.m. ET, S&P 500 E-minis fell 21.25 points,

or 0.38%. Nasdaq 100 E-minis dropped 62 points, or

0.32%, and Dow E-minis were down 215 points, or 0.51%.

Investors have sought refuge in U.S. government bonds and

gold while dumping domestic equities, especially the high-flying

tech stocks, amid fears tariffs could stifle economic expansion

and ignite inflationary pressures.

Trump has already implemented levies on imported aluminum

and steel, along with increased tariffs on goods from China.

Higher duties on cars will take effect on Thursday.

Goldman Sachs on Monday raised the probability of a U.S.

recession to 35% from 20% and said it expects more U.S. interest

rate cuts this year.

Among single stocks, Johnson & Johnson ( JNJ ) fell 3.7%

premarket after a U.S. bankruptcy judge rejected the company's

$10 billion proposal to end tens of thousands of lawsuits

alleging its baby powder and other talc products cause ovarian

cancer.

Conservative news outlet Newsmax ( NMAX ) jumped 25%

following a more than 700% surge in its NYSE debut on Monday.

PVH Corp ( PVH ) jumped about 16% after the apparel maker's

annual earnings forecast beat analysts' estimates.

Tesla's shares gained 1.5% ahead of its

first-quarter vehicle deliveries report on Wednesday. Its shares

fell about 36% in the three months to March 31.

The electric carmaker posted its lowest first-quarterly

sales figures in France and Sweden since 2021, data showed.