Dow Jones, S&P, Nasdaq, Futures Pointing To Continued Strength On Wall Street

The major U.S. index futures on the Dow Jones, S&P and Nasdaq are currently pointing to a higher open on Tuesday, with stocks likely to add to the strong gains posted in the previous session.

The markets may continue to benefit from optimism President Donald Trump plans to take a more narrow approach to new tariffs.

Trump said at an event on Monday that he “may give a lot of countries breaks” on reciprocal tariffs that are set to take effect April 2nd.

However, Trump also said he plans to impose tariffs on the automotive and pharmaceutical industries in the “very near future” and later added the lumber and semiconductor industries to his list of targets.

The president has recently made many conflicting remarks about his tariffs plans, leading to considerable uncertainty on Wall Street.

U.S. stocks turned in a strong performance on Monday, with the technology sector posting more pronounced gains. The markets stayed positive as the mood remained bullish throughout the day.

The major averages all closed on a high note. The Dow settled higher by 597.97 points or 1.4 percent, at 42,583.32. The S&P 500 closed up 100.01 points or 1.8 percent, at 5,767.57, while the Nasdaq ended stronger by 404.54 points or 2.3 percent, at 18,188.59.

The rally on Wall Street came as traders reacted to reports President Donald Trump plans to hold back some of the reciprocal tariffs set to take effect on April 2nd.

A report from the Wall Street Journal said Trump is narrowing his approach to the tariffs, likely omitting a set of industry-specific tariffs.

Bloomberg also said Trump’s coming wave of tariffs is poised to be more targeted than the barrage he has occasionally threatened, citing aides and allies.

Semiconductor and networking stocks had a very good outing. Shares from steel, banking, retail and airline sectors also closed mostly higher.

Tesla soared nearly 12 percent. Advanced Micro Devices, United Airlines Holdings, FedEx, Moderna, Ross Stores, Dollar Tree, Delta Airlines and Microchip Technology gained 4 to 7 percent.

Meta, Texas Instruments, Amazon, Morgan Stanley, Home Depot, Eli Lilly, Nvidia and Citigroup all gained more than 3 percent.

American Express, Goldman Sachs, Wells Fargo, Alphabet, Visa and Apple also closed with strong gains.