Dow Futures Edge Higher Even As Trump’s Steel Tariffs Kick In: Nvidia, Apple, HPE, Wells Fargo Among Stocks To Watch

U.S. stocks appear set for a positive opening on Wednesday, extending gains of the previous two trading sessions even as President Donald Trump’s tariffs on steel and aluminum imports kick in.

The United States’ and China’s tariff wars continued to escalate. Chinese Foreign Minister Wang Yi said it is “regrettable” that the U.S. had imposed “negative measures” against China, after the Trump administration allegedly reneged on the preliminary trade deal struck in Geneva.

Trump reacted on Wednesday, saying it is “extremely hard to make a deal with” Chinese President Xi Jinping.

While Dow Jones futures were up 0.11% at the time of writing, the S&P 500 futures rose 0.14%, and the tech-heavy Nasdaq 100’s futures edged up by 0.09%. Futures of the Russell 2000 index were up 0.27%.

Meanwhile, the SPDR S&P 500 ETF Trust (SPY) gained 0.19%, while Invesco QQQ Trust (QQQ) rose 0.17% on Wednesday morning.

Bitcoin (BTC) gained 0.38% in the past 24 hours.

Asian markets ended Wednesday’s trading session on a positive note, with the KOSPI leading with gains of 2.59%, followed by the TWSE Capitalization Weighted Stock index at 2.27%, and the Nikkei 225 at 0.80%.

The Hang Seng index gained 0.60%, while the Shanghai Composite gained 0.42%.

Stocks To Watch

• Wells Fargo & Co. (WFC): The Federal Reserve lifted a long-standing cap of $2 trillion on the company’s assets, following a fake accounts incident.
• Nvidia Corp. (NVDA): The stock continued to climb, making it the most valuable company in the world by market capitalization once again.
• Hewlett-Packard Enterprise (HPE): The firm’s second-quarter earnings beat Wall Street expectations, while the third-quarter revenue forecast came ahead of analyst forecasts.
• Warner Bros. Discovery (WBD): Shareholders of the company rejected CEO David Zaslav’s $51.90 million pay package.
• Apple Inc. (AAPL): Analysts at Needham downgraded the Apple stock to ‘Hold’ from ‘Buy’, citing threats to the company’s near-term revenue and earnings growth.

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Also See: Fed’s Lisa Cook Sees Trump Tariffs Raising Inflation, Stressing Labor Market