U.S. Futures Fluctuate Amid Trump's Tariffs Announcement
U.S. futures witnessed fluctuations following President Donald Trump's implementation of reciprocal tariffs against trading partners.
Dow Hovers, S&P and Nasdaq Fluctuate
Dow futures (YM=F) remained relatively stable, while S&P 500 e-mini futures (ES=F) gained 0.1%. Nasdaq futures (NQ=F), however, faced a slight decline of 0.1%.
Trump's Tariffs and Negotiations
On Thursday, President Trump signed reciprocal tariffs but postponed their implementation until April to facilitate one-on-one negotiations with affected countries. This action succeeds the recent imposition of 25% tariffs on steel and aluminum.
Inflation and Retail Sales
Wall Street remains preoccupied with inflation after recent data indicating price increases. Investors anticipate insights into consumer spending from retail sales data scheduled for Friday.
Post-Market Gains
Airbnb (ABNB) surged post-hours after exceeding analyst estimates. Roku's earnings fueled further stock gains, while GameStop (GME) also witnessed a post-bell jump following news of its crypto investment plans.
Moderna Earnings on Friday
Friday's market agenda includes earnings reports from Moderna (MRNA).