United States stock futures ticked lower on Monday night (Tuesday AEDT), following a strong rally during the day as hopes grew that President Donald Trump might scale back his initial broad tariff plans.
By 9:15 am AEDT (10:15 pm GMT), futures for the Dow Jones Industrial Average and S&P 500 were unchanged, while Nasdaq 100 futures eased 0.1%.
In extended trading, KB Home dropped 7.4% after reporting earnings and revenue below expectations, while also lowering its forward guidance.
During Monday’s session, the Dow Jones Industrial Average surged 1.4%, the S&P 500 climbed 1.8%, and the Nasdaq Composite rose 2.3%.
Wall Street remains cautious amid inflationary concerns and slowing economic growth as it awaits the Trump administration’s reciprocal tariff rollout on 2 April.
However, investor sentiment improved after reports indicated that the White House may narrow the scope of the tariffs.
Later in the day, Trump commented on potential tariff exemptions, saying, “I may give a lot of countries breaks” on reciprocal duties.
He also confirmed that tariffs on certain industries, including pharmaceuticals and automobiles, would still be introduced in the “near future”.
Meanwhile, ANZ analysts highlighted improving global composite PMIs despite ongoing trade policy uncertainties.
"Global composite PMIs lift amidst tariff uncertainty: Flash March PMI data releases for the U.S., euro area and U.K. rose from February levels.
"Whilst the assessment of current conditions improved, the business outlook remained weak, reflecting ongoing concern about future trade friction and broader policy uncertainties."
Looking ahead, investors will be monitoring key economic data releases on Tuesday. March consumer confidence figures from the Conference Board and February new home sales data are set for release, along with the Richmond Federal Reserve’s manufacturing index for March.
