New York, NY – Stock futures rose on Tuesday evening as Wall Street anticipated the implementation of President Donald Trump’s tariffs the following day. Futures tied to the S&P 500 saw a 0.2% increase, while Nasdaq-100 futures went up by 0.3%. At the same time, Dow Jones Industrial Average futures gained 72 points, translating to a 0.2% increase.
The White House announced that a set of reciprocal tariffs initiated by President Trump would be enforced starting with all countries, with immediate effect. According to Treasury Secretary Scott Bessent, the tariffs set will act as a cap, allowing countries to make adjustments to reduce the tariff rates. Reports suggest that the Trump administration is contemplating imposing tariffs of approximately 20% on most imports, although other options are still being considered.
During the previous trading session, the S&P 500 closed 0.4% higher after experiencing fluctuations throughout the day. The Nasdaq Composite ended the day with a roughly 0.9% increase, but the Dow Jones Industrial Average saw a marginal decrease instead. Trump’s tariffs have influenced recent market volatility, leading to a sell-off in the broad market index in five of the past six weeks.
Market analysts like Jeff Kilburg from KKM Financial believe that the market may be oversold currently. Kilburg mentioned on CNBC that there is potential for a 2% to 4% rally to alleviate investors’ concerns. Apart from tariffs, investors are awaiting the release of the ADP employment report for March, which is expected to show an increase in private sector job additions compared to February.
The Bureau of Labor Statistics reported a decrease in job openings in February, falling slightly below the initial estimates. Despite concerns surrounding tariffs and market fluctuations, some traders remain optimistic about potential rebounds in the market. The implementation of Trump’s tariffs and the subsequent impact on the economy remain key factors influencing market sentiment moving forward.