Stock futures surged early on Monday following reports suggesting that President Donald Trump might be more flexible on some of the tariffs scheduled for April 2, easing concerns of a full-blown global trade war.
The Dow Jones Industrial Average futures rose 376 points or 0.90%, while S&P 500 futures increased by 1.2%, and Nasdaq 100 futures were up by 1.38%.
Investors saw a positive outcome last week, with the S&P 500 closing in the positive territory on Friday, ending its three consecutive weekly losses. Despite this, there is still apprehension among investors as the deadline for Trump’s reciprocal tariffs looms closer. Trump’s planned tariffs are intended for any country imposing duties on U.S. imports at an equal degree.
There are indications that the tariffs might be more limited in scope, possibly excluding some industry-specific duties, according to the report from the the Wall Street Journal, while Bloomberg News suggest that some nations may also be exempt from these tariffs.
President Trump’s statement about having “flexibility” in his tariff strategy on Friday seemed to calm investors, leading to a positive stock market performance during that session. While this may have eased investor concerns to some extent, it also highlights the uncertainty surrounding the implementation of the new administration’s policies.
