Traders work on the floor at the New York Stock Exchange in New York City, U.S., March 24, 2025.
Jeenah Moon | Reuters
U.S. stock futures were little changed Monday night. The action comes after the major averages climbed on rising hopes that President Donald Trump will curtail his initial plans for broad-ranging tariffs.
Futures tied to the S&P 500 inched down 0.1%. Dow Jones Industrial Average futures and Nasdaq 100 futures slipped around 0.1% each.
During Monday’s main session, the 30-stock Dow jumped nearly 600 points, or 1.42%. The broad market S&P 500 added nearly 1.8%, while the tech-heavy Nasdaq Composite climbed 2.3%.
Wall Street remains on edge over a potential uptick in inflation and slowing economic growth as it awaits reciprocal tariffs from the Trump administration on April 2. During Monday’s session, traders grew optimistic on news that the White House may narrow the scope of tariffs going into effect, according to reports from The Wall Street Journal and Bloomberg News.
Later in the day, Trump told the press that he “may give a lot of countries breaks” on reciprocal tariffs. He added that duties on certain sectors, such as pharmaceuticals and autos, would still be coming in the “near future.”
Though the major averages posted back-to-back winning sessions on Monday, the gains come after a rocky past month for stocks. At one point earlier this month, the S&P 500 closed in correction territory.
“Typically during market corrections, the stock market recovers almost as fast as it declines,” said Jim Elios, founder of Elios Financial Group. “So we believe that we are on the other side of this market correction and that stocks should continue to move higher, albeit with some volatility.”
Traders will be looking toward several economic releases on Tuesday. Consumer confidence data for March is scheduled to come out, in addition to February’s new home sales data. The Richmond Federal Reserve’s manufacturing index for March is also due. In addition, Fed Governor Adriana Kugler and New York Fed President John Williams are slated to speak at events.