Futures Edge Up as Earnings Lift Mood, Tariff Fears Linger – Europe Market Wrap
US stock futures posted modest gains as investors assessed US President Donald Trump’s latest tariff threats, disappointing economic data and mixed corporate earnings reports.
Contracts on the S&P 500 added about 0.2% and Nasdaq 100 futures were flat. McDonald’s Corp. and Shopify jumped in premarket trading after earnings beats.
Über and Walt Disney dropped after reporting results that disappointed some investors. Super Micro Computer Inc. plunged more than 17% after cutting its annual sales forecasts, while Advanced Micro Devices Inc. slumped after the company was unable to give a clear outlook for resuming sales in China.
While earnings have been broadly solid so far this season, investors are worried about the impact of tariffs and a slowing economy. Data Tuesday showed weakening US services amid sticky price pressures, further complicating the Federal Reserve’s policy challenges after last week’s weak jobs numbers.
Meanwhile, Trump ramped up his tariff blitz, saying he’ll impose increased levies on countries buying energy from Russia and slap duties on semiconductor and pharmaceutical imports soon.
Treasuries dipped, with the 10-year yield rising two basis points to 4.23% ahead of an auction of 10-year notes later Wednesday. A gauge of the dollar was steady.
Europe’s Stoxx 600 benchmark was little changed after erasing an early gain of 0.4% amid mixed results from some of the region’s biggest companies.
