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U.S. stock futures rose early Wednesday as traders hoped for a possible compromise on the Trump administration’s tariffs targeting goods from key trade partners.
Futures for the Dow Jones Industrials advanced 106 points, or 0.3%, to 42,700
Futures for the S&P 500 index hiked 19.25 points, or 0.3%, to 5,808.75
Futures for the tech-heavy NASDAQ added 99.75 points, or 0.5%, to 20,498.75.
Walt Disney Co. is cutting 6% of its global workforce, including employees at its animation studio in Vancouver.
Commerce Secretary Howard Lutnick said Tuesday on Fox Business that the U.S. might meet Canada and Mexico somewhere “in the middle” to “work something out” on tariffs. Earlier in the day, U.S. levies on Canadian and Mexican imports took effect. Canada responded with duties of its own.
President Donald Trump addressed the market’s stress over the tariffs during a Tuesday night address to Congress, saying that a “little disturbance” from the levies was OK.
New economic releases on Wednesday morning that could shed light on the state of the U.S. economy include the ADP private payrolls report for February, as well as the purchasing managers’ index for last month.
In Japan, the Nikkei 225 added 0.2%, while in Hong Kong, the Hang Seng popped 2.8%.
Oil prices faded $1.11 to $67.15 U.S. a barrel.
Gold prices gained $8.40 to $2,929 U.S. an ounce.
