U.S. stock futures were higher on Sunday night, regaining ground after Friday’s downturn, as President Donald Trump expressed optimism that trade ties with China “will all be fine.” Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 Index (SPX) were up 0.8%, 1.11%, and 1.57%, respectively, at 8:15 p.m. EDT on October 12.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Stocks fell sharply on Friday as renewed trade war concerns wiped out earlier gains, leaving major indexes deep in negative territory for the week. The Dow Jones Industrial Average dropped 2.73%, the S&P 500 declined 2.43%, and the Nasdaq 100 slipped 2.27%.
The rebound in futures came after a Truth Social post from President Trump on Sunday suggested he may not carry out his earlier threat to impose a “massive increase of tariffs” on China. His comments on Friday had reignited fears of a U.S.-China trade war, triggering a sharp market sell-off that erased about $2 trillion in market value.
The latest remarks may reassure investors and prompt a rebound after Friday’s slump, particularly in technology stocks, which bore the brunt of the decline. Many tech firms depend on China for rare earth materials used in semiconductors, electric vehicles, and other products.
The Q3 earnings season will officially open this week, with several major companies set to report results over the next five trading days. These include Johnson & Johnson (JNJ), JPMorgan Chase (JPM), Citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS), BlackRock (BLK), ASML Holding (ASML), Bank of America (BAC), Morgan Stanley (MS), Abbott Laboratories (ABT), and TSMC (TSM), among others.
Stay ahead of macro events with our up-to-the-minute Economic Calendar — filter by impact, country, and more.