US stock index futures rose on Tuesday evening after concerns over a cooling economy and increased trade tariffs sparked a series of losses on Wall Street. The focus shifted to NVIDIA Corporation’s upcoming quarterly earnings, which are due on Wednesday.
Investors were locked in profits ahead of the earnings release, leading to three straight sessions of steep losses for the stock. However, gains in futures were limited as US President Donald Trump threatened to impose trade tariffs on copper imports.
Trump signed an executive order exploring import tariffs on copper over what he alleged were unfair global trade practices. The move aims to spur domestic copper production and reduce China’s dominance in the global market. Freeport-McMoran, the largest US copper producer, rallied 5% on Trump’s order.
The president’s tariff threats have sparked concerns over retaliatory measures and disruptions in global trade, which could disrupt business operations and underpin inflation. Trump also signaled that his planned tariffs on Canada and Mexico will likely take effect from March.
In a separate move, NVIDIA rose 1.3% in aftermarket trading after the stock clocked three straight days of steep declines ahead of its earnings release. The company is expected to report strong earnings growth on sustained demand from the artificial intelligence industry, but its outlook on future demand will be closely watched.
The S&P 500 fell 0.5%, while the NASDAQ Composite dropped 1.4%. US stocks were also dented by growing concerns over a cooling economy, which has sparked doubts over the need for outsized capital investment in AI.
Source: https://www.investing.com/news/stock-market-news/us-stock-futures-rise-amid-trump-tariffs-economic-jitters–nvidia-awaited-3891245