Traders work on the floor of the New York Stock Exchange during morning trading on March 4, 2025.
Michael M. Santiago | Getty Images
S&P 500 futures were near the flatline on Wednesday night after the major averages rebounded on hopes for concessions on President Donald Trump’s tariffs.
Futures tied to the broad market index lost 0.06%, while futures tied to the Dow Jones Industrial Average were little changed. Nasdaq 100 futures dipped nearly 0.2%.
Stocks have had a volatile week so far. The three major U.S. indexes staged a comeback on Wednesday after posting back-to-back losses. The White House said that it would grant a one-month delay for tariffs on automakers whose cars comply with the United States-Mexico-Canada Agreement. This fueled traders’ hopes that Trump could provide further exemptions, lifting the major averages.
In regular trading, the Dow Jones Industrial Average jumped 485.60 points, or 1.14%. The S&P 500 gained 1.12%, while the Nasdaq Composite added 1.46%. All three indexes are still down more than 1% week to date even after these gains.
Trump implemented tariffs on key U.S. trading partners Mexico, Canada and China earlier this week, which have each since announced retaliation plans, fueling uneasy sentiment.
“The pressure this week is broad based, with notable weakness in small caps and growth, while global markets continue to lead,” said Mark Hackett, chief market strategist at Nationwide. “The sharp market decline and collapse in investor sentiment are being driven by the ‘three-headed monster’ of growth challenges, inflationary pressures, and uncertainty in D.C.”
On the economic front, traders will have an eye on weekly jobless claims due Thursday. February’s big payrolls report will be out on Friday, and the results could sway the market.
A slate of companies are expected to report quarterly results Thursday, including Macy’s, Broadcom, Costco Wholesale and Hewlett Packard Enterprise.