Market Update: Futures Rise Despite Trump’s Tariff Threats
Despite President Donald Trump’s comments on potential tariff hikes on Canada and Mexico, the Dow Jones Industrial Average and other major indexes traded higher on Tuesday. This unexpected move has investors reacting positively, with Nvidia (NVDA) and Tesla (TSLA) emerging as early winners.
Futures and ETFs on the Rise
Ahead of the opening bell, Dow Jones futures rose 0.5% vs. fair value, alongside S&P 500 futures. The tech-heavy Nasdaq 100 futures moved up 0.6% vs. fair value in morning trades. Among exchange-traded funds, the Invesco QQQ Trust (QQQ) rose 0.6%, while the SPDR S&P 500 ETF (SPY) gained 0.5% ahead of the open.
Nvidia and Tesla Lead the Charge
Nvidia bounced another 0.8% Tuesday morning, looking to add to Friday’s 3.1% rally. Shares are attempting to retake their 50-day moving average, a key level to watch. Electric-vehicle giant Tesla raced more than 2% higher Friday, finding support around their 10-week line and potentially forming a new base. Tesla stock moved up another 1.9% in premarket action Tuesday.
Earnings Movers and Shakers
On Tuesday morning, 3M (MMM), Charles Schwab (SCHW), and D.R. Horton (DHI) were key earnings movers. Shares of 3M rallied more than 3% in premarket trading, on pace to move above a 141.34 flat-base entry. Brokerage Charles Schwab jumped 5.4%, while homebuilder D.R. Horton surged 4.6% in early morning trade.
After-Hours Earnings Report
After the market close Tuesday, Netflix (NFLX) is anticipated to report its fourth-quarter earnings report. Netflix stock closed Friday below its 50-day line, a key level to watch.
Top Stocks to Watch
Among the best companies to watch in the current stock market are Broadcom (AVGO), Howmet Aerospace (HWM), Meta Platforms (META), and Spotify (SPOT). Along with Apple (AAPL) and Nvidia, Dow Jones components making notable moves were Microsoft (MSFT) and Walmart (WMT).
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