U.S. Stock Futures Edge Higher on Trade Hopes, Alphabet Earnings in Focus

U.S. stock index futures inched higher Wednesday evening as optimism over easing U.S.-China trade tensions lifted sentiment. Investor focus also shifted toward key tech earnings, with Alphabet (NASDAQ: GOOGL) set to report its Q1 results.

S&P 500 Futures and Nasdaq 100 Futures both rose 0.1% to 5,406.25 and 18,817.50 points, respectively, while Dow Jones Futures dipped 0.2% to 39,713.0. The modest gains followed a strong Wall Street session, driven by President Donald Trump’s suggestion of potentially cutting the 145% tariffs on Chinese imports—conditioned on China returning to the negotiating table.

Treasury Secretary Scott Bessent noted that while the current tariff exchange is unsustainable, there has been no unilateral offer to reduce duties. China, meanwhile, recently imposed 125% retaliatory tariffs on U.S. goods, showing limited interest in de-escalation talks.

Wall Street reacted positively, with the S&P 500 climbing 1.7% to 5,375.82, the NASDAQ surging 2.5% to 16,708.05, and the Dow gaining 1.1% to close at 39,606.57. However, all three indexes closed off their intraday highs amid ongoing market uncertainty.

Investor confidence was also supported by Trump softening his stance against the Federal Reserve, clarifying he does not plan to fire Fed Chair Jerome Powell despite earlier criticisms over interest rates.

Looking ahead, Alphabet’s earnings are highly anticipated, especially regarding its AI investments and future spending plans. Other major companies scheduled to report Thursday include Procter & Gamble (NYSE: PG), T-Mobile (NASDAQ: TMUS), PepsiCo (NASDAQ: PEP), Gilead Sciences (NASDAQ: GILD), and Comcast (NASDAQ: CMCSA).

As investors navigate trade policy shifts and corporate earnings, market volatility is expected to remain elevated.