US Stock Futures Climb as Trump Delays Tariffs
Key Points:
* Nasdaq futures (NQ=F) up 0.7%
* S&P 500 futures (ES=F) up 0.5%
* Dow Jones futures (YM=F) up 0.3%
* Trump delays tariffs on Canada and Mexico by 30 days
* Palantir (PLTR) shares soar 23.9% after-hours on strong earnings forecast
* US dollar indexes (DX=F) continue upward trend
US stock futures are showing steady gains as US President Donald Trump agrees to postpone the implementation of tariffs on Canada and Mexico by 30 days.
Nasdaq futures are leading the way with a 0.7% rise, while S&P 500 futures are up 0.5% and Dow futures have climbed 0.3%.
The decision to delay the tariffs comes after Trump reached separate agreements with Mexico and Canada to send more troops to their borders with the US and take other actions to address trade.
However, Trump's plan to impose a 10% tariff on Chinese goods remains in place, and companies with China exposure are feeling the heat. Shares in chip giant Nvidia (NVDA) have dropped 2.84%, and iPhone maker Apple (AAPL) has plunged 3.39%.
EV manufacturer Tesla (TSLA) is also under pressure, with its shares diving 5.1%.
In positive news, Palantir (PLTR) shares surged 23.9% after-hours on Monday following the company's upbeat earnings forecast.
Meanwhile, US dollar indexes are continuing to rise after a slight pullback from near all-time highs. The Canadian dollar and Mexican peso have also recovered following the news that the countries will not face tariffs on Tuesday.