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US stock futures rallied on Tuesday after a chaotic day on Wall Street, as the prospect of US-Japan tariff talks lifted hopes for other trade deals even as China escalated its face-off with President Trump.
Futures tied to the S&P 500 (ES=F) soared 2.3%, and those on the tech-heavy Nasdaq 100 (NQ=F) jumped 2%. Dow Jones Industrial Average futures (YM=F) surged 2.7%, or over 1,000 points, to lead the charge higher.
Buyers are wading back into the market after Trump’s fast-moving tariff push spurred a roller-coaster session on Monday, which saw the Dow (^DJI) sink 350 points and the S&P 500 (^GSPC) cement a historic three-day loss.
Spirits got a boost after Treasury Secretary Scott Bessent hailed the start of bilateral trade talks with Japan. The news alleviated fears that the White House wasn’t prepared to cut deals on tariffs, given trade adviser Peter Navarro’s comment to the Financial Times that Trump’s tariffs were “not a negotiation.”
CME – Delayed Quote USD
As of 9:12:59 AM EDT. Market Open.
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The Nikkei 225 (^N225) closed 6% higher in Tokyo, rebounding from Monday’s plunge to its lowest level in over 18 months as investors welcomed the signs of US openness to adjustment.
But the chances of a trade war between the world’s biggest economies still hung over markets. On Tuesday, China vowed to “fight to the end” if the US continues to pursue what Beijing authorities described as “blackmail”. The pledge followed Trump’s threat to impose additional 50% tariffs on China beginning on Wednesday if the country did not scrap its plans for retaliatory duties.
Read more: Live updates on Trump tariffs fallout
Some top names on Wall Street — from JPMorgan CEO Jamie Dimon to BlackRock CEO Larry Fink — have started warning about the effects of Trump’s tariffs. Even Tesla CEO and Trump adviser Elon Musk has offered gentle critiques over the past few days.
LIVE 10 updates
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Trump tariffs pose significant profit risk to Walmart
Yahoo Finance’s Brian Sozzi reports:
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Small business optimism plunged in March before ‘Liberation Day’ tariff announcement
Yahoo Finance’s Dani Romero reports:
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A break from a historic sell-off?
Stock futures are climbing after President Trump appeared to open the door to trade talks with some nations.
Futures tied to the S&P 500 (ES=F) rose 1.6%, and those on the tech-heavy Nasdaq 100 (NQ=F) moved up 1.5%. Dow Jones Industrial Average futures (YM=F) led the gains premarket, surging more than 2%.
If these moves continue, they will offer investors a reprieve after one of the worst three-day sell-offs since World War II, Yahoo Finance data shows. Ahead of Tuesday’s open, the S&P 500 (^GSPC) has fallen more than 10% in the days since President Trump’s tariff announcement.
Read seven other charts showing the dramatic fallout from Trump’s ‘Liberation Day’ announcement here
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Levi Strauss stock rallies 10% premarket, CEO assembling tariff ‘task force’
Shares of Levi Strauss (LEVI) rallied over 10% in premarket trading after the company reiterated its full-year outlook, which included no impact from tariffs. The denim maker also posted better-than-expected earnings and said demand was strong in March.
But on a more confusing note, Levi’s CFO Harmit Singh stated this on tariffs: “Given that the situation is fluid and unprecedented, the impacts are uncertain. We are in the process of scenario planning and determining different mitigation strategies. We recognize this is a quickly evolving macro situation and we have to see where the dust settles to give you the guidance that is going to be as helpful to you as possible.”
As Yahoo Finance’s Brian Sozzi noted, the company relies on 130 facilities in China and 50 in Vietnam — two countries Trump earmarked for large tariffs — to produce its various apparel offerings.
Levi’s CEO Michelle Gass said the company has assembled an internal “task force” to determine the tariff impact and proper responses, such as price increases, Sozzi wrote.
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Wall Street just got a preview of what could stop the tariff turmoil
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Good morning. Here’s what’s happening today.
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China stocks bounce back as state funds come to the rescue
Chinese stocks staged a recovery on Tuesday from their historic bruising in the previous session as Beijing stepped in to stem the slide.
The Hang Seng China Enterprises Index (^HSCE) in Hong Kong ended with a 2.3% gain in the wake of its worst day since the 2008 financial crisis, and the Hang Seng Index (^HSI) closed 1.5% higher.
Meanwhile, Shanghai’s CSI 300 Index (000300.SS), which slid over 7% on Monday, notched a rise of 1.7%.
Beijing’s willingness to take measures after tariff-fueled market turmoil stands in contrast to the response in the US. Trump and his allies have shrugged off the rout, with the president saying Wall Street must “take medicine”.
Bloomberg reports:
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Sudden sell-off shakes US Treasurys market
US Treasurys continued their sharp decline on Tuesday as investors sold bonds to cover losses in other assets and rushed to adjust their expectations for significant US rate cuts, signaling potential stress in financial markets.
Reuters reports:
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Japan’s Nikkei 225 rockets up in rebound
The Nikkei 225 (^N225), Japan’s leading stock index, has bounced back over 6% after plunging 7% yesterday to the lowest level in over 18 months.
The rebound occurred on Tuesday’s market open after stock futures closed briefly Monday morning with heavy losses triggering a circuit breaker close on trading.
Tech companies led the rally as strong-performing US tech stocks bolstered belief in the Japanese tech sector.
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Trending tickers in after-hours trading
Humana Inc. (HUM)
Humana Inc. was one of several medical providers seeing jumps after the bell following President Donald Trump’s announcement that payments for Medicare insurers would rise to 5.06% next year. Humana stock leapt 11.5% in extended trading.
Broadcom (AVGO)
Shares in the semiconductor developer moved up 3% in after hours trading following news that Broadcom was launching a $10 billion share buyback program. The program will run through until Dec 31.
Dave & Busters (PLAY)
Arcade company Dave & Busters saw a 2.3% bounce in after-hours trading after slipping 3.8% during the day. The company fell short of market expectations for Q4 revenue after releasing earnings showing a decline in year-on-year sales.
