U.S. stock futures pointed to a lower opening on Friday, after a volatile week marked by significant swings in the major averages. Investors remain cautious about President Donald Trump’s tariff announcements. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.01%, 0.34%, and 0.02%, respectively, at 4:18 a.m. EST, April 11.
On Thursday, all three major indices witnessed a sharp decline. The Dow Jones, the S&P 500, and the Nasdaq Composite plunged by 2.5%, 3.46%, and 4.31%, respectively. This sell-off partially erased the gains witnessed during Wednesday’s rally, which had been sparked by President Trump’s announcement of a temporary 90-day pause on tariffs for most countries.
However, renewed worries about escalating trade tensions between the United States and China hurt investor sentiment. The White House confirmed that the total tariffs imposed on Chinese imports have surged to 145%.
Despite the week’s volatility, the major averages are still on track for solid weekly gains. The S&P 500 is poised for a 3.8% advance, the Nasdaq for a 5.1% gain, and the Dow for a 3.3% increase week-to-date.
Looking ahead, investors are focused on several key earnings reports today from major financial firms, such as Morgan Stanley (MS), Wells Fargo (WFC), JPMorgan Chase (JPM), and BlackRock (BLK).
On the economic data front, the March Producer Price Index (PPI) report and the preliminary University of Michigan consumer sentiment data for April are scheduled for release today.
Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.289%. Simultaneously, WTI crude oil futures are trending lower, hovering near $60.71 per barrel as of the last check.
Elsewhere, European indices opened slightly higher today, as investors closely monitored the ongoing U.S.-China trade war. The EU has paused its retaliatory tariffs for 90 days to support talks, following the White House’s lead.
Asia-Pacific Markets Traded Mixed on Friday
Asia-Pacific indices were mixed today as renewed U.S.-China trade tensions rattled investors. Also, traders are closely watching U.S.-Japan trade talks, as Japan currently faces a reduced 10% tariff rate from the U.S.
At the same time, Hong Kong’s Hang Seng Index was up 1.52%. Further, China’s Shanghai Composite and the Shenzhen Component indices gained 0.45% and 0.82%, respectively. However, Japan’s Nikkei and Topix indices closed lower by 2.96% and 2.85%, respectively.
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