U.S. stock futures showed slight declines on Monday evening following a positive trading day for the major stock indices. The market was buoyed by hopes that President Trump would ease his plans for reciprocal tariffs.
Futures for the S&P 500 (ES=F), Nasdaq Composite (NQ=F), and Dow Jones Industrial Average (YM=F) all fell by about 0.2%.
Market Optimism as Trump Signals Tariff Adjustments
Monday saw significant gains, with all three major indices rising over 1%. Investor optimism grew after President Trump hinted that he might reduce the impact of upcoming tariffs set for April 2. In his comments, the president stated that he “may give a lot of countries breaks,” though he also confirmed that tariffs on the pharmaceutical and automobile sectors would still be implemented in the “near future.”
Tech Stocks Lead the Rally
Tech stocks played a major role in Monday’s rally, with companies like Nvidia (NVDA), Meta (META), and Jack Ma’s Ant Group helping to restore investor confidence in the sector, particularly in the field of artificial intelligence.
Looking Ahead: Key Data and Earnings Reports This Week
Traders are now turning their attention to upcoming economic data, including consumer confidence figures and February’s new home sales, which are scheduled for release on Tuesday.
This week also brings concerns about rising inflation and slowing economic growth. The week will culminate with the release of February’s Personal Consumption Expenditures (PCE) Index on Friday, a key indicator closely watched by the Federal Reserve.
Additionally, quarterly earnings reports from companies like Lululemon (LULU), GameStop (GME), and Dollar Tree (DLTR) are expected this week, with GameStop’s earnings taking center stage in Tuesday’s announcements.
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