U.S. stock futures dipped slightly Tuesday morning, following gains in major averages fueled by speculation that President Donald Trump might soften his stance on widespread tariffs. Investors are on edge for potential inflation and economic slowdowns, with reciprocal tariffs from the Trump administration looming on April 2.
S&P 500 futures decreased by 0.15%, Nasdaq 100 futures fell by 0.23%, and Dow Jones Industrial Average futures lost 68 points (0.16%). On Monday, the Dow surged by approximately 600 points (1.4%), the S&P 500 rose nearly 1.8%, and the Nasdaq Composite jumped 2.3%.
Reports from The Wall Street Journal and Bloomberg suggested the White House might limit the scope of upcoming tariffs. Trump later confirmed he might offer “breaks” to many countries, but emphasized that duties on sectors like pharmaceuticals and autos were still planned for the “near future.”
Despite recent gains, the market has faced a turbulent month, with the S&P 500 briefly entering correction territory. Jim Elios, founder of Elios Financial Group, stated, “Typically during market corrections, the stock market recovers almost as fast as it declines,”
Several economic reports are anticipated on Tuesday, including March consumer confidence data, February new home sales, and the Richmond Federal Reserve’s manufacturing index for March. Speeches from Fed Governor Adriana Kugler and New York Fed President John Williams are also on the agenda.
Nasdaq, S&P 500 snap losing streaks: Rate cuts in focus
Related updates
- Hong Kong’s Hang Seng Index: Dropped over 2% as investors reacted to U.S. President Donald Trump’s tariff threats, ending the day 2.35% lower at 23,344.25. The Hang Seng Tech index fell 3.82% to 5,517.52.
- Retail trading platform eToro: Filed for an initial public offering with the Securities and Exchange Commission, planning to list its Class A common shares on the Nasdaq Global Select Market under the ticker “ETOR.”
- El-Erian: Mohamed El-Erian, Allianz chief economic advisor, stated that most of fast money de-leveraging, a driver for the recent market sell-off, is probably over.
Stocks making the biggest moves after hours Monday
- KB Home: Fell almost 9% after missing both top-and bottom-line estimates in the first quarter.
- UniFirst: Decreased by 10% after Cintas ended talks to acquire UniFirst in a deal valued at $275 per share in cash.
- American Electric Power: Dropped 2% after announcing a $2 billion secondary sale of common stock.
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