Stock market today: Dow, S&P 500, Nasdaq futures jump amid hopes Trump will soften next tariff blow
US stock futures jumped on Monday as investors welcomed reports that the next wave of President Trump’s tariffs will be more targeted than threatened.
S&P 500 futures (ES=F) rose 0.9% on the heels of the broad benchmark snapping a four-week losing streak. Dow Jones Industrial Average futures (YM=F) advanced 0.7%, while contracts on the tech-heavy Nasdaq 100 (NQ=F) led the gains, up 1.1%.
Markets are weighing signs that proposed US reciprocal tariffs will be narrower than expected when Trump announces them on April 2, per reports from Bloomberg and The Wall Street Journal. That’s providing some relief from fears that an escalating trade war will drive up inflation and further slow the economy.
The yield on the 10-year Treasury (^TNX) rose about four basis points to 4.29% as worries about a tariff hit to growth and global trade eased, and appetite for risk sharpened.
5,780.00
–
+(1.08%)
As of 6:52:59 AM EDT. Market Open.
ES=F YM=F NQ=F
Looking at economic data for the week to come, a reading of the Fed’s preferred inflation gauge, the Personal Consumption Expenditures Index, is due Friday. The PCE comes alongside a treading of the University of Michigan’s consumer confidence survey, as well as updates to Purchasing Managers’ Indexes for the manufacturing and services sectors.
On the earnings front, quarterly results from Lululemon (LULU), Gamestop (GME), and Dollar Tree (DLTR) are the highlights in a quiet week of releases.
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