U.S. stock futures inched higher ahead of Thursday session after President Donald Trump disclosed new tariffs on imported semiconductors and chips. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 Index (SPX) were up 0.17%, 0.02%, and 0.18%, respectively, at 1:11 a.m. EDT on August 7.
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Trump stated that a 100% tariff would be applied to imported chips, but with a key exemption: companies that are “building in the United States” would not be subject to the new levy. This news came shortly after Apple (AAPL) committed an additional $100 billion investment in the U.S. over the next four years.
This follows a positive day for the broader market, with the S&P 500, the Nasdaq Composite, and the Dow gaining 0.7%, 1.2%, and 0.2%. Traders continue to monitor tariff-related news and key quarterly earnings reports.
Looking ahead to Thursday, traders are focused on new economic data, including Weekly Jobless Claims, as well as the second-quarter reports on Unit Labor Costs and Productivity. On the corporate earnings front, SoundHound AI (SOUN), D-Wave Quantum (QBTS), Pinterest (PINS), Block (XYZ), and Eli Lilly (LLY) are scheduled to release quarterly numbers.