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U.S. stock futures were little changed Wednesday evening after Wall Street rallied on President Donald Trump’s decision to grant a one-month exemption on new 25% auto tariffs for imports from Mexico and Canada.
S&P 500 Futures held steady at 5,852.25 points, Nasdaq 100 Futures dipped 0.2% to 20,632.75, and Dow Jones Futures remained unchanged at 43,068.0 by 19:25 ET (00:25 GMT).
The White House’s move provides temporary relief to automakers, allowing them more time to adjust supply chains and mitigate immediate cost pressures. The exemption underscores the importance of the U.S.-Mexico-Canada Agreement (USMCA), ensuring duty-free access for compliant vehicles. Reports also suggest Trump may exclude certain agricultural products from tariffs, signaling potential negotiations for longer-term trade solutions.
Markets welcomed the announcement, with the Dow Jones Industrial Average gaining 1.1%, snapping a two-day losing streak. The S&P 500 also rose 1.1%, while the NASDAQ Composite jumped 1.5%. Automaker stocks surged, with General Motors (NYSE:GM) soaring 7.2%, Ford (NYSE:F) climbing 5.8%, Stellantis NV (BIT:STLAM) up 9.2%, and U.S.-listed Toyota Motor (NYSE:TM) gaining 6.5%.
Economic data showed unexpected growth in the U.S. services sector in February, as the ISM Services PMI rose to 53.5 from 52.8, beating forecasts. However, rising input prices, fueled by new tariffs and higher raw material costs, could stoke inflation concerns.
Investors now await Friday’s jobs report, which could influence Federal Reserve policy and interest rate outlooks.
