U.S. stock futures fell on early Wednesday, as investors brace for President Trump’s “Liberation Day” tariff announcement at 4:00 p.m. EST today. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.26%, 0.15%, and 0.21%, respectively, at 4:47 a.m. EST, April 2.
This comes after Tuesday’s mixed trading session. The S&P 500 and the Nasdaq Composite (NDAQ) gained 0.4% and 0.9%, respectively. However, the Dow Jones declined slightly.
Market sentiment is influenced by reports that suggest a 20% tariff on most imports. Also, the exact details and scope of these tariffs remain unclear, adding to the uncertainty. Further, the White House has said that the tariffs, impacting “all countries,” would take effect immediately, spooking investors about its impact on the economy.
Economist Matt Colyar from Moody’s Analytics says the lack of details from the White House is causing concern. He suggests this might be a tactic to speed up talks, but also notes the complexity of the task and doubts a clear plan will be ready by Wednesday.
Looking ahead, investors are awaiting the employment report for March provided by Automatic Data Processing (ADP). Economists predict the addition of 120,000 private sector jobs, up from February’s 77,000. Also, Factory orders data for February will be made public today.
On the earnings front, Cognyte Software (CGNT), RH (RH), BlackBerry (BB), and UniFirst (UNF) are some of the companies slated to release their quarterly numbers today.
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.174%. Simultaneously, WTI crude oil futures are trending lower, hovering near $70.99 per barrel as of the last check.
Elsewhere, European indices opened lower today as caution grew before Trump’s tariff announcement.
Asia-Pacific Markets Traded Mixed on Wednesday
Asia-Pacific indices were mixed today due to the looming tariff announcement.
At the same time, Hong Kong’s Hang Seng Index was down 0.02%. Also, Japan’s Topix index declined 0.43%, while the Nikkei index ended higher by 0.28%. Further, China’s Shanghai Composite and the Shenzhen Component indices gained 0.05% and 0.09%, respectively.
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