U.S. stock futures edged higher Thursday evening after Wall Street’s sharp decline, fueled by uncertainty over President Donald Trump’s shifting tariff policies. Investors remained cautious ahead of a crucial employment report expected to offer insights into the U.S. economy.
S&P 500 Futures rose 0.3% to 5,674.65, Nasdaq 100 Futures gained 0.5% to 20,190.75, and Dow Jones Futures inched up 0.2% to 42,680.0.
Markets remained on edge after Trump announced a temporary exemption for Canadian and Mexican imports under USMCA, delaying a 25% tariff until April 2. In response, Canada postponed its planned $125 billion in retaliatory tariffs. Despite these delays, investor sentiment remained weak due to the White House’s unpredictable trade policies.
On Thursday, the Dow dropped 1%, the S&P 500 fell 1.8%, and the Nasdaq sank 2.6%, driven by sharp losses in the tech sector. NVIDIA (NVDA) plunged 5.7%, Tesla (TSLA) tumbled 5.6%, and Broadcom (AVGO) fell 6.3% despite strong earnings. Marvell Technology (MRVL) plummeted nearly 20% after disappointing AI-driven growth projections.
Meanwhile, labor market data showed jobless claims fell to 221,000 last week, suggesting strength in employment. However, federal unemployment claims surged due to mass layoffs by the Department of Government Efficiency (DOGE), led by Elon Musk, aiming to cut inefficiencies.
Investors now await Friday’s employment report for further clarity on economic stability and potential Federal Reserve rate decisions amid rising factory costs and tariff concerns.