New York City, USA – Stock futures in the United States experienced a slight decline on Tuesday morning following a significant surge in major averages. This increase came amidst growing optimism that President Donald Trump would scale back his initial plans for widespread tariffs. S&P 500 futures dipped 0.15%, Nasdaq 100 futures fell 0.18%, and Dow Jones Industrial Average futures saw a loss of 70 points, or 0.16%.
During Monday’s trading session, the Dow soared by almost 600 points, an increase of about 1.4%. The S&P 500 and Nasdaq Composite also saw gains of nearly 1.8% and 2.3%, respectively. The anticipation of reciprocal tariffs from the Trump administration on April 2 has left Wall Street on edge, with traders eagerly awaiting news on potential changes to the proposed tariffs.
Reports from various sources suggested that the White House might be considering narrowing the scope of the tariffs being implemented. President Trump hinted at the possibility of providing exemptions to certain countries and forewarned of forthcoming tariffs on specific sectors like pharmaceuticals and autos. Despite recent market volatility, experts like Jim Elios of Elios Financial Group remain optimistic about the outlook of the stock market, expecting stocks to continue moving higher albeit with some fluctuations.
On the economic front, traders are closely watching several key indicators scheduled for release on Tuesday. Data on consumer confidence for March, February’s new home sales figures, and the Richmond Federal Reserve’s manufacturing index for March are all set to be unveiled. Additionally, speeches by Fed Governor Adriana Kugler and New York Fed President John Williams are anticipated at upcoming events. The combination of these factors will likely influence market sentiment and trading activity in the days to come.