US Stock Futures Rise as Gold Is Affected by Tariff Unrest – Europe Market Wrap
US futures gained at the end of a week dominated by tariffs, geopolitical turmoil, and corporate earnings.
Contracts for the S&P 500 rose by about 0.3%, putting the underlying gauge on track for its largest weekly gain in five years. Intel surged in premarket trading after CEO Lip-Bu Tan stated that he has the backing of the company’s board, after Trump’s call for his resignation. Tesla faced a setback after disbanding its Dojo team, which hampered its plans to build a supercomputer for driverless vehicle technology.
The S&P 500 is nearing a new high after rising 30% from its April lows, boosted by strong corporate earnings and anticipation that the Fed may lower interest rates to bolster the economy as the labour market weakens. Nonetheless, other firms have warned customers to expect a near-term decline due to sky-high valuations and ongoing tariff uncertainty.
Europe’s Stoxx 600 index moved higher, heading for its biggest weekly gain since May. The Nikkei-225 index rose 1.8% after Japan’s trade negotiator announced that the US has agreed to cease so-called stacking on universal tariffs and lower car levies.
Oil prices stabilised after a period of drops, as traders await Trump’s next measures to end the crisis in Ukraine, following his announcement of tariffs on India this week for importing Russian oil.
