Dow, S&P 500, Nasdaq futures rise after China signals tariff restraint, bank earnings roll in

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US shares swung again to beneficial properties earlier than the bell on Friday, eyeing a comeback bid after China hit the US with a retaliatory tariff hike however signaled it will not hike duties any additional.

Futures tied to the S&P 500 (ES=F) rose 0.2%, and the tech-heavy Nasdaq (NQ=F) was up 0.3%. Dow Jones Industrial Common futures (YM=F) edged up above the flatline.

China mentioned Friday it should elevate duties on imports of US items to 125%, in contrast with the 84% beforehand deliberate, efficient Saturday. The transfer is in direct response to President Trump’s ballooning “reciprocal” tariffs on China, the commerce ministry said, but it surely additionally advised it should “ignore” any retaliatory US hikes in duties.

CME – Delayed Quote USD

As of seven:39:58 AM EDT. Market Open.

ES=F NQ=F YM=F

Huge Wall Avenue banks bought first quarter earnings season stepping into earnest on Friday, with outcomes rolling in from JPMorgan (JPM), Wells Fargo (WFC), and BlackRock (BLK). Their shares rose modestly following these quarterly stories earlier than the bell, intently studied for indicators of headwinds from the tariff turmoil. JPMorgan CEO Jamie Dimon mentioned the US economic system is going through “extreme turbulence.”

Trump’s fast-moving tariff policy has whiplashed shares this week, which noticed the key US indexes notch historic gains during Wednesday’s session however then tank on Thursday. Regardless of that rout, the key indexes are positioned for his or her greatest week in months, largely on the again of the mid-week surge.

The volatility has additionally thrust strikes of Treasurys and commodities into the highlight. The benchmark 10-year Treasury yield (^TNX) continued a latest march larger, up above 4.41%. In the meantime, the greenback (DX=F) index tumbled, at one level reaching lows not seen since 2022. And gold (GC=F) is as soon as once more the “place to be” amid the turmoil, leaping to a different file on Friday.

Traders will get the March studying on the Producer Worth Index later within the day, offering one other piece of the pre-tariff inflation puzzle.

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Greenback slides, turns into the most recent sufferer in markets mayhem

The greenback (DX=F) is tumbling as issues develop that the escalating US-China commerce battle is taking the shine off the buck because the world’s reserve forex.

Headwinds got here from China’s transfer to lift its US tariff fee from 84% to 125%, beginning Saturday.

Bloomberg stories:

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Nvidia estimates get reduce

Eyes on Nvidia (NVDA) this morning after Citi analyst Atif Malik reduce his estimates on financial issues. Might be an indication of what’s to come back on the highflier.

Says Malik:

“We’re decreasing our GPU models for CY25/2026 by 3%/5% to align with our revised hyperscaler capex mannequin of +35%/+15% spend reflecting principally decrease Microsoft (MSFT) capex issues and better danger of pause in enterprise investments amid uncertainty across the world economic system attributable to ongoing commerce warfare.”

Yours really and Madison Mills will likely be going extra into the decision live on Yahoo Finance within the 10 a.m. ET hour.
Tariff uncertainty muddies — and refocuses — earnings season

Yahoo Finance’s Hamza Shaban stories:

That is the Takeaway from immediately’s Morning Temporary. Read more here.
Good morning. Here is what’s taking place immediately.
JPMorgan earnings present first have a look at Wall Avenue tariff turmoil

Yahoo Finance’s David Hollerith stories:

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The greenback misplaced floor as traders fled US property, in search of secure havens. The transfer towards stability mainly bolstered the Swiss franc, yen, euro, and gold.

Reuters stories:

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Gold pushes to new file as tariffs drive haven demand

Gold (GC=F) hit a brand new excessive as tariff uncertainty continues to stoke world recession fears. The commodity has seen constant development within the 12 months up to now, with a rise of greater than 20% over the previous three months.

Bloomberg stories:

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