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U.S. stock futures are pointing to a modestly higher open, a day after stocks rallied on signs President Donald Trump’s softening his tariff threats.
On Monday, Trump said he “may give a lot of countries breaks” on the reciprocal tariffs, which are set to take effect April 2. Earlier reports said tariffs will be targeted on roughly 15% of countries where there are trade imbalances and won’t include sector-specific tariffs. That lifted market hopes that an all-out trade war could be avoided.
However, Trump said tariffs on sectors like pharma and autos would still be coming in the “near future,” just maybe not on April 2. He then later added the lumber and semiconductor industries to his tariff list for levies sometime “down the road,” which added some ambiguity to the tariff situation and uncertainty to the markets.
At 8:05 a.m. ET, futures tied to the broad S&P 500 were last up 0.18% or 10.75 points, to 5,826.00, while the blue-chip Dow rose 0.11%, or 47 points, to 42,945.00. Tech-heavy Nadaq futures added 0.15%, or 31.5 points, to 20,405.75.
Corporate news
- KB Home missed analysts’ earnings and revenue estimates in the first three months of the year and cut its full-year sales outlook.
- Cintas terminated talks to buy UniFirst in a deal valued at $275 per share in cash.
Medora Lee is a money, markets and personal finance reporter at USA TODAY. You can reach her at mjlee@usatoday.com and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning.
