US stock futures pushed higher on Monday as a looming deadline fueled uncertainty around President Donald Trump’s tariff plans, as investors looked ahead to the monthly jobs report and key retail earnings.
S&P 500 futures (ES=F) climbed 0.5%. while those on the tech-heavy Nasdaq 100 (NQ=F) saw a roughly 0.8% gain. Dow Jones Industrial Average futures (YM=F) were up 0.4%. The major US indexes are coming off a volatile week and a losing month in February.
March trading is kicking off with investors facing with more questions than answers as tariff deadlines loom, the Federal Reserve’s next meeting fast approaches, and the US economy faces the test of disproving investors’ fears about growth.
Tariffs on Canada and Mexico are set to come into effect on Tuesday, with no indication that a planned March 4 implementation date will be pushed back again. While 25% duties are planned, Commerce Secretary Howard Lutnick hinted that they could be lower by describing it as a “fluid situation.” New tariffs on China are also due on March 4, with Beijing said to be eyeing retaliatory measures on US agricultural products.
As of 8:12:52 AM EST. Market Open.
ES=F YM=F NQ=F
Elsewhere, a weekend effort by European leaders to rally around Ukraine prompted traders to boost bets on a bump to defense spending in the region, lifting related stocks.
The week will bring a crucial jobs report and a batch of retail earnings that could feed or ease concerns about economic downturn and consumer resilience. The February nonfarm-payrolls report on Friday is expected to show modest jobs growth, with the unemployment rate steady at 4%.
And in a packed week of retail earnings, results from Target (TGT) on Tuesday and Costco (COST) are in focus for what they reveal about American shoppers. Data last week showed consumer spending unexpectedly fell in January by the most in four years.
Meanwhile, cryptocurrencies got a boost after Trump said on Sunday that five digital assets — bitcoin (BTC-USD), ether (ETH-USD), XRP (XRP-USD), solana (SOL-USD), and cardano (ADA-USD) — would be included in a new US strategic cryptocurrency reserve. Prices of those tokens on Monday held onto much of their gains booked following the post on social media by the president.
Trump said bitcoin (BTC-USD) and ethereum would be central to the reserve, to be set up following a January executive order on digital assets. Bitcoin, which sank 17% to below $79,000 per token in February, soared at one point above the $94,000 level.
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