Markets are seeking clarity on President Trump's tariffs, with the president targeting Aug. 1 for new country-specific tariffs.

All three major U.S. indexes ended higher last week, notching three record closing highs despite an abbreviated trading week.

U.S. stock-market futures declined as the Trump administration said a broad swath of tariffs against U.S. trade partners won’t take effect until Aug. 1, rather than July 9.