US Stock Futures Trade In The Green At The End Of A Volatile Week: All Eyes On Bank Earnings

U.S. stocks were on course for a recovery on Friday, with futures pointing to the possibility of a relief rally following Thursday’s decline as the Trump administration’s tariff policies kept markets on tenterhooks.

The Dow Jones futures were up 0.6% at the time of writing, while the S&P 500 and the Nasdaq 100 futures rose nearly 0.8%. Futures of the Russell 2000 index gained almost 0.4%.

Meanwhile, the SPDR S&P 500 ETF Trust (SPY) was up 0.9% on Friday morning, while Invesco QQQ Trust (QQQ) gained 0.8%.

Bitcoin (BTC) was up nearly 1.5% in the past 24 hours.

Asian markets ended Friday on a mixed note, with the TWSE Capitalization Weighted Stock Index continuing to lead the pack with gains of 2.7%, followed by the Hang Seng Index, which rose 1.1%.

Japan’s Nikkei 225 fell the most among the lot, with a decline of 3%, while South Korea’s KOSPI fell 0.5%. China’s Shanghai Composite gained 0.5%.

U.S. Markets Decline Again

Selling resumed in U.S. equities on Thursday, with the tech-heavy Nasdaq 100 declining nearly 4.2%. The S&P 500 fell 3.5%, followed by the Dow Jones, which declined 2.5%.

The decline came amid a report that said the effective tariff rate on imports of Chinese goods into the U.S. is 145%, not 125%.

The report stated that the 125% tariff rate did not include the 20% fentanyl-related levy the Trump administration imposed on Chinese imports.

The Xi Jinping administration responded in kind to Trump’s latest tariff hike, increasing its levy on U.S. goods to 125% from 84%.

However, the Chinese administration said it would ignore further tariff hikes from the U.S.

Gary Black, managing partner of The Future Fund LLC, said that investors should expect more companies to “withdraw or severely limit” their fiscal year 2025 guidance due to tariff wars reducing visibility.

JPMorgan Chase & Co. (JPM), Morgan Stanley (MS), Wells Fargo & Co. (WFC), and The Bank of New York-Mellon (BNY) are some of the major earnings on the radar today as the first-quarter bank earnings kicks off.

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Also See: After Trump’s Tariff Pause, Billionaire Investor Ray Dalio Wants A ‘Win-Win’ Deal To Be Negotiated With China