New York, NY – Stock futures rose on Tuesday evening following a day of volatility driven by President Donald Trump’s tariff announcements, as investors braced for the release of a key consumer inflation report on Wednesday.
Futures linked to the Dow Jones Industrial Average were up by 0.2%, while S&P 500 futures gained 0.2% and Nasdaq 100 futures increased by 0.3%. The market had experienced significant swings earlier in the day, with all major averages ending lower as uncertainty over tariff policies loomed large.
President Trump’s decision to double import duties on Canadian steel and aluminum imports to 50% on Wednesday had initially rattled the markets. However, the announcement from Ontario Premier Doug Ford that he would pause the surcharge, followed by reassurances from White House trade advisor Peter Navarro that the tariffs would not be raised to 50%, helped ease tensions.
Investors are now eagerly awaiting the consumer price index reading for February, with economists predicting a 0.3% increase last month. Market concerns about inflation and slowing growth are becoming more prominent, prompting speculation on the Federal Reserve’s next course of action.
Warren Pies, co-founder of 3Fourteen Research, expressed caution about buying into the market dip, citing the need for a clear policy response from either the Fed or the administration. The uncertainty surrounding trade policies and economic indicators continues to keep traders on their toes, with the market eagerly anticipating further developments in the coming days.