Tariff Easing and Earnings Anticipation Boost U.S. Stocks

U.S. stock index futures rose slightly as the Trump administration announced intentions to ease automotive tariffs. Investors remain attentive to key earnings and economic data. Major automakers and tech stocks showed gains, while NXP Semiconductors faced a drop due to leadership changes and earnings just surpassing expectations.

U.S. stock futures edged higher on Tuesday, driven by President Trump's plan to alleviate automotive tariffs. This move aims to reduce the cumulative duties on foreign parts used in domestic vehicles, providing relief to automakers like Ford and Tesla, which saw shares increase by 1.1% and 0.8%, respectively.

Investors are also keenly focused on the earnings reports from giants such as Coca-Cola and UPS. As the week unfolds, they await further economic indicators like U.S.-China trade negotiation outcomes and consumer confidence levels, which could provide more market direction.

Despite slight gains, major stock indexes are still down for the year. The ongoing trade tensions add uncertainty, and while earnings estimates for the S&P 500 have improved, companies remain cautious about the potential impact of tariffs.

(With inputs from agencies.)