Dow Jones futures trade lower amid uncertainty over future of Trump's tariffs

• Dow Jones futures face pressure as uncertainty over Trump tariffs future weigh on risk sentiment.
• US President Trump announces that he will drag tariffs case to Supreme Court.
• Investors expect the Fed to cut interest rates this month.

Dow Jones futures extend losses in the overnight session on Wednesday. United States (US) equities are facing selling pressure as appeals of court has announced a verdict against a majority of tariffs imposed by President Donald Trump since his return to the White House.

At the time of writing, Dow Jones futures trade 37 points lower to near 45,250. The 30-stock basket declined 0.55% on Tuesday after a long weekend.

On Tuesday, US President Trump announced that he will take the tariff case to Supreme Court immediately on Wednesday for an expedited ruling on tariffs. Last Friday, a panel of judged called majority of Trump tariffs "illegal" and accused Trump for wrongfully invoking the emergency law.

Market participants worry that the uncertainty over the economic outlook will return if Washington unwind tariffs, as US firms started structing their supply chain according to international policy changes.

However, US Treasury Secretary Scott Bessent has clarified that the Washington has more ways to keep tariffs in place.

Meanwhile, the broader outlook of US stock markets remains firm as the Federal Reserve (Fed) is almost certain to reduce interest rates in the policy meeting this month. According to the CME FedWatch tool, there is an almost 92% chance that the Fed will cut interest rates in the September policy meeting.

In Wednesday's session, investors will focus on US JOLTS Job Openings data for July, which will be published at 14:00 GMT. US employers are expected to have posted fresh 7.4 million jobs, almost in line with the prior reading of 7.44 million.