Stock futures in the United States are trending lower while investors closely follow tariff announcements from the White House. President Donald Trump confirmed decisions on reciprocal tariffs for the following day. OpenAI disclosed a funding round totaling $40 billion led by Japan's SoftBank, marking the ChatGPT maker's valuation at $300 billion. Commerce Secretary Howard Lutnick cautioned companies that they might lose CHIPS Act funding if they fail to boost U.S. investments. The focus is also on Moderna (MRNA) shares post a significant drop following the departure of a top FDA official. Here is the essential information for today's investors summarized:

1. US Stock Futures Point Lower as Tariff Updates Awaited: U.S. stock futures are declining as investors wait for tariff news, with Dow Jones Industrial Average futures down by 0.6%. Nasdaq and S&P 500 futures are showing similar drops. Bitcoin is up by around 2%, trading above $84,000, while gold and oil futures are on the rise. Yields on the 10-year Treasury note are decreasing. 2. Trump Finalizes Reciprocal Tariffs Plan: President Trump disclosed that he has settled on tariffs slated for announcement the next day on "Liberation Day." Options include a 20% tariff on all U.S. imports or applying reciprocal tariffs aligning with exports. The EU has stated readiness to impose retaliatory tariffs if discussions to prevent heightened import duties fail.

3. OpenAI Concludes $40B Funding Round with $300B Valuation: OpenAI completed a $40 billion funding round, elevating the ChatGPT parent's valuation to $300 billion, primarily led by SoftBank investing up to $30 billion, with an additional $10 billion from a syndicate. The ultimate investment by SoftBank hinges on OpenAI's transition to a for-profit entity by the year's end. The funding will aid OpenAI in advancing AI research, expanding its computing infrastructure, and delivering more potent tools. 4. Lutnick Issues Warning on Potential CHIPS Act Funding Cuts: Commerce Secretary Howard Lutnick has reportedly urged chipmakers slated for federal funding to boost their U.S. production or risk experiencing funding reductions. Lutnick cautioned companies receiving 2022 CHIPS and Science Act funding, stating that this funding may be slashed if they do not amplify their U.S. investments. The example of Taiwan Semiconductor Manufacturing Company (TSM) pledging $100 billion in U.S.-based chip manufacturing facilities has been cited.