June S&P 500 E-Mini futures (ESM25) are up +0.05%, and June Nasdaq 100 E-Mini futures (NQM25) are up +0.14% this morning, pointing to a muted open on Wall Street, while investors await U.S. economic data, quarterly reports from more big banks, and remarks from Federal Reserve officials.
Stock index futures initially posted solid gains amid hopes for more U.S. tariff exemptions after President Donald Trump floated a possible pause in auto tariffs. President Trump stated on Monday that he is considering possible temporary exemptions for his tariffs on imported vehicles and parts to provide auto companies additional time to set up U.S. manufacturing. “I’m looking at something to help car companies with it. They’re switching to parts that were made in Canada, Mexico and other places, and they need a little bit of time, because they’re going to make them here,” Trump told reporters in the Oval Office. At the same time, the U.S. moved ahead with plans to impose tariffs on semiconductor and pharmaceutical imports by launching trade investigations led by the Commerce Department.
