US futures are nudging higher on August 7, rebounding modestly after Dow Jones’ second day of fall in three sessions.
The futures tied to Dow Jones rose 0.3 percent while S&P 500 and Nasdaq 100 futures each advanced about 0.4 percent a short while ago, with market participants focused on President Trump’s trade policies that are adding to uncertainty.
A day earlier, the Dow ended 0.5% percent in a session of volatile swings while the S&P 500 ended mostly flat and the Nasdaq Composite gained nearly 0.4 percent. Despite Thursday’s dip, the major averages are set for weekly gains, with the S&P 500 up set to end the week high by about 1.6 percent.
The Trump administration’s decision to exempt companies ‘building in the United States’ from a 100% tariff on imported semiconductor chips provided some early support to markets.
In other news, President Trump announced his nomination of Stephen Miran, chair of the Council of Economic Advisors, to fill a Federal Reserve Board vacancy.
Commodities and Crypto
Gold futures hit a record high following reports of new US duties on one-kilogram gold bars, reflecting investor demand for safe haven amid tariff concerns. Spot gold remained steady near $3,396 per ounce.
Ethereum extended gains to hit a seven-month high above $3,960 amid broad crypto buying momentum.
Global Market Wrap
European stocks edged higher on Friday, with the pan-European Stoxx 600 adding 0.2 percent, France’s CAC 40 up 0.3 percent, while London’s FTSE 100 climbed slightly and Germany’s DAX slipped 0.2 percent.
Asian markets ended mixed with Japan’s Nikkei 225 rising 1.8 percent and Topix up 1.2 percent, while in contrast, Hong Kong’s Hang Seng fell 0.9 percent, South Korea’s Kospi dropped 0.5 percent, and Australia’s ASX 200 declined 0.3 percent. The Nifty 50 and BSE Sensex too ended lower by roughly 0.6 percent.
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