US stock futures rose across the board on Tuesday as investors digested a report that the incoming Trump administration could hike tariffs gradually. Investors also braced for a wholesale inflation reading, the first of two key inflation reports this week.
S&P 500 futures (ES=F) moved up roughly 0.3%, while those on the tech-heavy Nasdaq 100 (NQ=F) put on 0.4%, both set to bounce back from Monday’s losses. Meanwhile, Dow Jones Industrial Average futures (YM=F) added 0.2% on the heels of a winning day for the blue-chip index.
President-elect Donald Trump’s team is considering a month-by-month rollout of promised tariff increases rather than imposing higher levels in a single move, Bloomberg reported, in a bid to help prevent inflation spikes.
The likelihood that Trump’s policies will pump up price pressures has been worrying markets, as that could limit the Federal Reserve’s scope for cutting interest rates. But gradual tariffs could still be “problematic” for the central bank’s efforts to finish the job of cooling inflation, a UBS strategist said.
After the tariff report, the dollar (DX-Y.NYB) retreated after a five-day winning streak, while the 10-year Treasury yield (^TNX) pulled back from the 14-month highs tapped in Monday’s bond sell-off.
The release of December’s producer price index later in the day will provide a temperature check on wholesale inflation and prepare the ground for Wednesday’s heavily anticipated consumer inflation print.
On the corporate front, shares of KB Home (KBH) jumped almost 10% in pre-market trading after the home builder’s fourth quarter earnings beat estimates.
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