Futures Strengthen on Tariff Developments

Stock futures rose slightly Wednesday as investors monitor the latest tariff updates from President Donald Trump.Futures for the Dow Jones Industrials hiked 70 points, or 0.2%, to 44,582.Futures for the S&P 500 index collected 8.75 points, or 0.2%, to 6,280.75.Futures for the NASDAQ gave up 30.25 points, or 0.1%, to 22,927.On Tuesday, Trump said in a Truth Social post that there would be no change or extensions on the raft of duties he announced on those nations, which include Japan and South Korea. The new tariff rates range from 25% to 40% and are set to begin on Aug. 1.Trump on Tuesday also announced a 50% levy on copper imports and hinted that further sector-specific tariffs will soon be announced. He threatened Tuesday afternoon to impose up to 200% tariffs on pharmaceuticals imported into the U.S., but said that he will “give people about a year, year and a half” until the duties go into effect.In addition to watching further tariff policy developments on Wednesday, traders will be monitoring the release of the Federal Open Market Committee’s minutes from its last meeting.In Japan, the Nikkei 225 index gained 0.3% Wednesday, while in Hong Kong, the Hang Seng dwindled 1.1%Oil prices edged up 0.25 cents to $68.58 U.S. a barrel. Gold prices dulled $14.50 to $3,302.40 U.S. an ounce.