Stock futures are pointing to a sharply higher open for major U.S. indexes on Tuesday as investors react to the latest back-and-forth from the Trump administration on trade.
Futures tied to the Dow Jones Industrial Average were recently up 1.3%, or more than 500 points, while those linked to the S&P 500 and the tech-heavy Nasdaq advanced 1.4% and 1.5%, respectively. Stocks are coming off losses on Friday that were sparked by President Donald Trump’s threats to impose 50% tariffs on imports from the E.U. starting June 1 and 25% tariffs on Apple if the company doesn’t manufacture iPhones in the U.S.
Trump on Sunday announced via a post on Truth Social that the start date for the E.U. tariffs would be pushed back to July 9 while the two sides engage in trade negotiations. The decision to postpone the tariffs on the E.U. comes after Trump last month paused for 90 days the wide-ranging “reciprocal” tariffs it had imposed on leading trade partners, and after a similar decision earlier this month to suspend most of the tariffs that had been placed on China.
The stock market has whipsawed in response to the trade policy shifts in recent months. The S&P 500, which comes into the holiday-shortened trading week on a four-day losing streak, plunged after the tariff plans were unveiled early last month only to recover all the ground it had lost within a few weeks as Trump appeared to soften his stance on tariffs. Through Friday’s close, the S&P 500 had declined 1.3% so far in 2025, after being down 15% year-to-date in early April.
Shares of the world’s largest technology companies were pacing the gains in premarket trading Tuesday. AI chipmaker Nvidia (NVDA), which is due to release its earnings report after the closing bell on Wednesday, was up about 2.5%. Apple (AAPL), which has lost ground for eight straight days, was up 2%. Meta Platforms (META), Tesla (TSLA) and Broadcom (AVGO) each added more than 2%, while Microsoft (MSFT), Amazon (AMZN) and Alphabet (GOOG) were also solidly higher.
Bitcoin was trading at $109,600 this morning, up from an overnight low of around $107,500. The digital currency hit an all-time high of $112,000 last week, its first record since just before Trump’s inauguration in January.
The yield on the 10-year Treasury note, which directly affects borrowing costs on all sorts of consumer and business loans, was at 4.47%, down from 4.51% at Friday’s close. The yield moved as high as 4.63% last week, its highest level in more than three months.
The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, was recently up 0.2% at 99.31.
Gold futures were down 2.2% at $3,290 an ounce, giving back a chunk of the gains posted last week when investors turned to the traditional safe haven asset amid the downturn in equities. West Texas Intermediate futures, the U.S. crude oil benchmark, slipped 0.5% to $61.25 per barrel.
