Wall Street Gains as Investors Brace for Trump’s Tariff Announcement

U.S. stock index futures remained steady Tuesday evening following a positive session on Wall Street, as markets await President Donald Trump’s highly anticipated tariff announcement on April 2. S&P 500 Futures hovered at 5,672.0, Nasdaq 100 Futures stayed unchanged at 19,599.50, and Dow Jones Futures held firm at 42,236.0.

Investors are closely watching the White House’s planned rollout of reciprocal tariffs, which will take effect immediately, according to Press Secretary Karoline Leavitt. Dubbed “Liberation Day,” the move also includes a 25% tariff on auto imports starting April 3. Market participants remain cautious amid uncertainty surrounding potential retaliation and the overall scope of the measures.

Despite these concerns, U.S. stocks closed higher on Tuesday, driven by gains in major tech stocks. The S&P 500 rose 0.4%, the NASDAQ added 0.9%, and the Dow Jones remained flat. Tesla (TSLA) jumped 3.6% ahead of its Q1 delivery report. NVIDIA (NVDA) rose 1.6%, Microsoft (MSFT) climbed 1.8%, Alphabet (GOOGL) added 1.5%, and Micron Technology (MU) advanced 2.1%.

Economic data reflected signs of a cooling economy. February’s JOLTS report showed job openings dropped to 7.57 million from January’s 7.76 million, suggesting softer labor demand. Meanwhile, the ISM Manufacturing PMI fell to 49.0 in March from 50.3 in February—marking the first contraction this year. Readings below 50 signal shrinking manufacturing activity.

Analysts at ING noted growing concern over how tariffs might disrupt global supply chains, despite intentions to support U.S. manufacturing. With uncertainty looming over trade policy and weakening economic indicators, markets appear to be adopting a cautious, wait-and-see approach.