U.S. stock futures were steady early Friday as investors showed optimism about the newly announced trade deal between the United States and the United Kingdom. This marks the first major trade deal since the U.S. imposed tariffs in April. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.26%, 0.12%, and 0.01%, respectively, at 3:10 a.m. EST, May 9.
On Thursday, President Donald Trump disclosed a preliminary trade agreement with the U.K. While the specifics are still being finalized, Trump indicated that a baseline tariff of 10% would remain on U.K. goods.
In Thursday’s regular trading session, the major indices posted solid gains. The Dow Jones, the S&P 500, and the Nasdaq Composite (NDAQ) rose by 0.62%, 0.58%, and 1.07%, respectively. The upside was fueled by strong performance in the tech sector.
The gains came after Trump expressed optimism about trade talks with China. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet Chinese officials in Switzerland this weekend.
In after-market action, Affirm (AFRM) dropped 8.4% as its revenue guidance fell short of expectations. Also, Coinbase (COIN) slipped about 3% after reporting weaker-than-expected first-quarter revenue. In contrast, Pinterest (PINS) surged 15.6%, driven by strong Q1 results and upbeat revenue guidance for the second quarter.
Week-to-date, the S&P 500 is on track for a 0.4% decline, and the Nasdaq is heading for a 0.3% drop. In contrast, the Dow is poised for a modest 0.1% gain, potentially marking its third consecutive positive week.
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.375%. Simultaneously, WTI crude oil futures are trending higher, hovering near $60.33 per barrel as of the last check.
At the same time, the Gold Spot U.S. Dollar Price rose to $3,330 per ounce on Friday, as investors assess the U.S.-UK trade deal and await China trade talks.
Elsewhere, European indices are expected to open higher today, aided by improving global sentiment after the U.S.-UK trade deal announcement.
Asia-Pacific Markets Traded Mixed
Asia-Pacific indices were mixed today as investors assessed China’s April trade data. Exports jumped 8.1% despite U.S. tariffs, beating the 1.9% forecast. Also, imports fell by 0.2%, softer than market estimates of a 5.9% decline.
At the same time, the Hong Kong index was up 0.25%. Also, Japan’s Topix and Nikkei indices gained 1.29% and 1.56%, respectively. However, China’s Shenzhen Component and Shanghai Composite indices closed lower by 0.69% and 0.3%, respectively.
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