U.S. Stock Futures Rise, Quarterly Earnings and Federal Reserve Announcements in Focus
U.S. stock index futures edged up on Tuesday, though overall market sentiment remained cautious as investors awaited a fresh batch of corporate earnings and clarity on President Donald Trump’s evolving trade tariff policies.
As of 05:35 ET (09:35 GMT), Dow Jones Futures were up 72 points (0.2%), S&P 500 Futures rose 14 points (0.3%), and Nasdaq 100 Futures gained 75 points (0.4%).
Wall Street’s main indices have logged two consecutive sessions of gains, supported by optimism over select exemptions from Trump’s wide-reaching tariffs on Chinese imports. A bout of bargain hunting also helped lift stocks following recent steep declines tied to trade policy uncertainty.
The Trump administration has now turned its attention to potential tariffs on pharmaceutical and semiconductor imports, launching fresh investigations. Meanwhile, Trump signaled possible exemptions for the auto sector during comments on Monday.
While Federal Reserve Governor Christopher Waller suggested that tariff-driven inflation could be short-lived, he warned that the trade measures represent “one of the biggest shocks to affect the U.S. economy in many decades,” raising concerns over economic growth.
Corporate Earnings in the Spotlight
Earnings season is picking up pace this week. Results from several major banks have so far indicated corporate resilience despite rising economic challenges.
Bank of America (NYSE: BAC) and Citigroup (NYSE: C) report Tuesday and could benefit from heightened market volatility, which has boosted equity trading activity across the financial sector in Q1.
Other key earnings due include Johnson & Johnson (NYSE: JNJ) and United Airlines (NASDAQ: UAL).
Investors will also closely monitor remarks from Federal Reserve officials throughout the week, especially Fed Chair Jerome Powell on Wednesday, as markets seek clarity on interest rate policy amid tariff turbulence and recession fears.
Commodities Update: Oil Steady, Gold Near Records
Crude oil prices held steady as markets weighed slowing global growth concerns against a rebound in Chinese crude demand and optimism surrounding U.S. tariff exemptions.
As of 05:35 ET, Brent crude traded slightly lower at $64.87 per barrel, while U.S. West Texas Intermediate (WTI) remained flat at $61.53.
Chinese customs data released Monday showed a nearly 5% rise in March crude imports compared to the same period last year, fueled in part by a surge in Iranian oil shipments ahead of expected stricter U.S. sanctions.
Gold prices hovered just below Monday’s record high, while the U.S. dollar strengthened against major peers. Meanwhile, Bitcoin advanced over 1%, reflecting growing investor interest in alternative assets amid market uncertainty.