U.S. stock futures rose on Wednesday after two days of decline on Tuesday. Futures of major benchmark indices were higher in premarket.
The upmove comes after the U.S. and China agreed to hold high-level trade talks in Switzerland this weekend, their first major meeting since President Donald Trump initiated the trade war, amid growing U.S. market concerns over tariff impacts.
Investors will await the Federal Reserve’s decision on interest rates, which is slated to be announced by Fed Chair Jerome Powell today afternoon.
Meanwhile, the 10-year Treasury bond yielded 4.32% and the two-year bond was at 3.80%. The CME Group’s FedWatch tool‘s projections show markets pricing a 95.6% likelihood of the Federal Reserve keeping the current interest rates unchanged in its May meeting.
| Futures | Change (+/-) |
| Dow Jones | -0.50% |
| S&P 500 | -0.50% |
| Nasdaq 100 | -0.51% |
| Russell 2000 | -0.91% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, fell in premarket on Wednesday. The SPY was down 0.63% to $562.30, while the QQQ declined 0.65% to $484.55, according to Benzinga Pro data.
Cues From Last Session:
Only utilities and energy sectors advanced on Tuesday, while health care, industrials, and consumer discretionary sectors led the declines.
Fueled by businesses and consumers rushing to import goods before President Trump’s sweeping tariffs took effect, the U.S. trade deficit ballooned to a record $140.5 billion in March, according to the data released on Tuesday. Federal data revealed significant stockpiling, particularly of pharmaceuticals.
It approximately doubled from $68.6 billion in March 2024.
After Tuesday, the S&P 500 index was out of the correction zone, just down 8.79% from its record high of 6,147.43 points, scaled on …