Stock market today: Dow, S&P 500, Nasdaq futures pull back from rally fueled by tariff hopes
US stock futures sank on Thursday, pulling back from the previous day’s rally as investors weighed how far President Donald Trump is willing to negotiate on tariffs.
Dow Jones Industrial Average futures (YM=F) fell 0.6%, while S&P 500 futures (ES=F) dropped 0.7%. Contracts on the tech-heavy Nasdaq 100 (NQ=F) paced the declines, down about 1%.
42,762.00
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(-0.71%)
As of 4:46:44 AM EST. Market Open.
YM=F ES=F NQ=F
Stocks were retreating after a volatile day of trading ended in a rally, driven by President Donald Trump’s one-month pause on tariffs targeting automakers.
Trump revealed a one-month delay on tariffs affecting cars entering the US from Canada and Mexico after speaking with Canadian Prime Minister Justin Trudeau and the heads of General Motors (GM), Ford (F), and Stellantis (STLA). Shares of the Big Three automakers rose on the news and remained flat after the bell.
Read more: Trump pauses auto tariffs after speaking with Canada’s Trudeau, Big 3 CEOs
But the market’s relief from Trump’s trade policy may be short-lived as more uncertainty lies ahead. The broad 25% duties imposed on Canada and Mexico on Tuesday remain in effect with no resolution in sight and more levies are set to begin in April.
Retail giants have been steadily paring back 2025 guidance on tariff concerns, and Thursday will offer more insight into how the trade war could impact the industry. Macy’s (M) and Kroger (KR) will report earnings before the market opens, while Costco (COST) and Gap (GAP) will share their results after the bell.
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