S&P500 and Nasdaq 100: Tariffs and Fed Minutes Shape US Stock Market Moves

Stock Futures Edge Higher as Traders Track Trump Tariff Announcements

Stock futures ticked up Wednesday as traders assessed new tariff signals from former President Donald Trump while awaiting the Federal Reserve’s meeting minutes.

Dow futures added 165 points, or 0.4%, with S&P 500 futures up 0.3% and Nasdaq-100 futures gaining 0.2%. The modest rise followed a muted session Tuesday, where the S&P 500 slipped 0.07% and the Dow lost nearly 0.4%.

Will Trump’s Tariff Plans Pressure Global Markets?

Trump announced he would not extend or adjust the sharp tariffs on 14 countries, including Japan and South Korea, with rates between 25% and 40% starting August 1. He also declared a 50% tariff on copper imports and hinted at sector-specific tariffs on industries such as pharmaceuticals, potentially imposing duties of up to 200% within 12–18 months.

Scott Helfstein at Global X noted the tariff policy could continue to inject volatility into markets as the White House has yet to meet its trade objectives. Global markets, including Japan’s Nikkei 225, South Korea’s Kospi, and Europe’s Stoxx 600, saw slight gains following the tariff news but remain cautious.

Federal Reserve Minutes in Focus

Traders will closely watch the Federal Open Market Committee’s minutes release later Wednesday for clues on interest rate paths and liquidity conditions. Market participants are weighing whether recent inflation data will impact the Fed’s stance on maintaining higher rates, influencing Treasury yields and sector sentiment in the coming sessions.

Which Stocks Are Making Notable Moves?

Starbucks rose nearly 2% premarket following reports that its China unit received bids valuing it up to $10 billion, signaling potential restructuring in the region. AES jumped nearly 14% as Bloomberg reported the energy company is exploring a potential sale.

Verona Pharma surged 20% after Merck acquired the company for $10 billion to expand its respiratory treatment lineup. Merck shares moved slightly higher on the news.

UnitedHealth fell over 1% after reports the Justice Department is investigating its Medicare billing practices, while SolarEdge Technologies declined more than 2% after Goldman Sachs downgraded the stock, citing residential market concerns. Mobileye Global slipped nearly 2% after Intel’s unit announced a share sale.

WPP shares plunged almost 16% as the advertising company reported weaker second-quarter performance and cut its full-year guidance.

What Should Traders Watch Next?

Traders should monitor upcoming Fed commentary, further tariff policy details, and corporate earnings in consumer and technology sectors to gauge potential market drivers. While tariff concerns add uncertainty, sector rotation opportunities remain for traders focusing on defensives and companies with pricing power in a potentially volatile trading environment.

More Information in our Economic Calendar.