Stock futures are surging after President Trump hinted at softer China tariffs
The market is rallying before the bell this morning, with futures on the Dow Jones Industrial Average (DJI) up 767 points and Nasdaq-100 Index (NDX) futures up 560 points, while S&P 500 Index (SPX) futures also jump triple digits. Updates from the White House are lifting sentiment, after President Donald Trump said tariffs on China will drop "substantially," and that he has "no intention" of removing Federal Reserve Chair Jerome Powell.
Meanwhile, investors are unpacking a flood of corporate earnings reports and looking ahead to the Fed's Beige Book, due out later today, along with the S&P flash U.S. services and manufacturing purchasing managers' indexes (PMI).
Continue reading for more on today's market, including:
- 50 stocks to target right now, per Schaeffer's Senior Quantitative Analyst Rocky White.
- A look at the homebuilding stock that propped up the sector yesterday.
- Plus, 2 stocks rising after earnings; and INTC announces job cuts.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.7 million call contracts and 937,643 put contracts exchanged on Monday. The single-session equity put/call ratio came in at 0.54, while the 21-day moving average stayed at 0.60.
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Vertiv Holdings Co (NYSE:VRT) is up 17.9% premarket, after the company reported better-than-expected first-quarter earnings and revenue, and raised its full-year sales guidance. Year to date, the equity is down 36.8%.
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AT&T Inc (NYSE:T) is up 2.6% before the bell. The
telecommunications name missed first-quarter earnings estimates, but posted a revenue beat amid an increase in phone subscribers -- one day after
Verizon (VZ) posted large subscriber losses. Since the start of 2025, T is up 18.4%.
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Intel Corp (NASDAQ:INTC) is up 5.1% in electronic trading, after news that the semiconductor giant is cutting over 20% of its global workforce. Looking to bounce further from its roughly 15-year lows earlier this month, INTC is sporting a 2.7% year-to-date deficit.
- Plenty more earnings due out this week.
Stocks Rally Overseas
Asian markets surged Wednesday, mirroring Wall Street’s gains. Hong Kong’s Hang Seng jumped 2.4% as tech stocks rallied, while Japan’s Nikkei added 1.9%. South Korea’s Kospi climbed 1.6%, fueled by a rebound in semiconductor names. China’s Shanghai Composite, meanwhile, slipped 0.1%.
European stocks are also sharply higher this afternoon, as potentially easing global trade tensions boost investor sentiment. France’s CAC 40 is up 2.1%, Germany’s DAX has added 2.4% amid strong earnings from software name SAP, and London’s FTSE 100 trades 1.3% higher.