Global markets drifted as renewed tariff uncertainty unnerved investors after President Trump announced 15-per-cent duties despite a Supreme Court ruling that struck ⁠down ​his broader levies.

Wall Street futures were in the red after major U.S. markets closed higher Friday.

TSX futures followed sentiment lower after Canada’s main stock market had a fresh record close on Friday.

In Canada, investors are getting results from Emera Inc., Ovintiv Inc. and Whitecap Resources Inc.

Tomorrow, Canada’s biggest banks start releasing first-quarter earnings. As The Globe’s Stefanie Marotta reports, they set to post higher profits as elevated trading activity boosted by volatile equity markets is expected to curb the impact of softening loan demand from consumers and businesses.

On Wall Street, markets are watching earnings from Dominion Energy Inc. and Oneok Inc.

“The tariff landscape is now more uncertain than before, uncertainty is not good news for any economy or market,” said Rodrigo Catril, a senior FX strategist at NAB.

“Unless common sense prevails, we could be entering a circular process where new tariffs are announced, then potentially overturned, only for new tariffs to be announced, and we do the dance again.”

Overseas, the pan-European STOXX 600 was down 0.31 per cent in morning trading. Britain’s FTSE 100 climbed 0.04 per cent, Germany’s DAX declined 0.48 per cent and France’s CAC 40 edged up 0.04 per cent.

In Asia, Japan’s Nikkei is closed, while Hong Kong’s Hang Seng rose 2.53 per cent.

Oil prices edged lower as the U.S. and Iran prepared for ‌a third round of nuclear talks, easing fears of an escalating conflict, while Trump’s fresh tariff hikes created uncertainty for global growth and fuel demand.

Brent crude futures ⁠slid 0.6 per cent to US$71.31 a barrel while West Texas Intermediate (WTI) crude futures traded at US$66.06 a barrel, down 0.6 per cent.

“With the next, and possibly last, round of the Iranian nuclear talks not until ​Thursday, focus is on the U.S. Supreme Court’s ‌decision to strike down import tariffs and the subsequent reaction from the government,” PVM Oil Associate analyst Tamas Varga said.

In other commodities, spot gold ​climbed 0.9 per cent to US$5,146.89 an ounce. U.S. gold futures for April delivery were up 1.7 per cent at US$5,167.90.

The Canadian dollar strengthened against its U.S. counterpart.

The day range on the loonie was 73.06 US cents to 73.27 US cents in early trading. The Canadian dollar was up about 0.26 per cent against the greenback over the past month.

The U.S. dollar index, which weighs the greenback against a group of currencies, fell 0.15 per cent to 97.65.

The euro advanced 0.09 per cent to US$1.1794. The British pound rose 0.22 per cent to US$1.3509.

In bonds, the yield on the U.S. 10-year note was last down at 4.078 per cent.

10 a.m. ET: U.S. factory orders for December. The Street is projecting a month-over-month increase of 1.0 per cent.

With Reuters and The Canadian Press