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US stock futures steady with tariffs, economic cues in focus

2025-03-26 09:10:39

U.S. stock index futures moved little on Tuesday evening with investors remaining on edge in anticipation of more cues on President Donald Trump’s trade tariffs, while focus also turned to a string of upcoming economic readings.

Futures steadied after a mildly positive session on Wall Street, as gains in most of the magnificent seven offset weakness in sectors outside of tech. Economically sensitive stocks fell after consumer confidence data read weaker than expected for March, signaling sustained weakness in private spending.

S&P 500 Futures rose 0.1% to 5,831.25 points, while Nasdaq 100 Futures rose 0.1% to 20,517.50 points by 19:26 ET (23:26 GMT). Dow Jones Futures steadied at 42,917.0 points.

Trump tariff uncertainty builds as April 2 deadline approaches

Trump’s tariffs remained a major point of focus ahead of an April 2 announcement on more tariff measures. Reports suggesting that Trump will impose less strict tariffs than initially feared were a big point of support for Wall Street this week.

But the 47th President still kept up his threats of more tariffs, claiming that duties on automobile imports were still coming, and that he will impose lumber and semiconductor tariffs later.

Trump is expected to announce reciprocal tariffs on about 15 major U.S. trading partners next week, with the potential scope and impact of the tariffs remaining unclear.

Wall St marks third straight day of gains

Wall Street indexes advanced on Tuesday, buoyed chiefly by gains in heavyweight technology stocks. Tesla Inc (NASDAQ:TSLA) rose more than 3% even after data showed its European sales slumped for a second straight month.

Six of the magnificent seven, barring NVIDIA Corporation (NASDAQ:NVDA), were in positive territory, with tech stocks also benefiting from some bargain hunting.

The S&P 500 rose 0.2% to 5,776.62 points, while the NASDAQ Composite rose 0.5% to 18,271.86 points. The Dow Jones Industrial Average inched up to 42,587.50 points, with all three indexes marking a third straight day of gains.

Among major aftermarket movers, GameStop Corp (NYSE:GME) soared 8% after its management approved a plan to buy Bitcoin with excess cash holdings.

Econ. data, Fed speakers in focus

Focus this week is on a slew of key U.S. economic indicators for more cues on growth and interest rates. Several Federal Reserve officials are also set to speak in the coming days.

Fears of a U.S. recession had battered Wall Street over the past month, especially in the face of trade disruptions stemming from Trump’s tariffs. Signs of sticky inflation and cooling consumer sentiment also weighed.

Durable goods data for February is due on Wednesday, while a revised reading on fourth quarter gross domestic product is due on Thursday.

PCE price index data- the Fed’s preferred inflation gauge- is due on Friday, and is likely to factor into the central bank’s outlook on interest rates.

Several Fed officials- including Chicago Fed President Neel Kashkari and Richmond Fed President Tom Barkin- are set to speak in the coming days.

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