S&P500 and Nasdaq 100: Tech Stocks Lead US Indices Higher in Pre-Market Trade

Stock Futures Edge Higher as Tariff Policies Remain in Focus

U.S. stock futures advanced early Friday, pointing to a positive start after the Dow Jones Industrial Average logged its second loss in three sessions. Dow futures rose 99 points, or 0.2%, while S&P 500 and Nasdaq 100 futures each gained 0.3%. Traders are weighing trade policy developments and Federal Reserve news as the week draws to a close.

How Did Markets Perform in Thursday’s Volatile Session?

The Dow ended Thursday down 224 points, or 0.5%, after swinging from a 305-point gain to a 394-point drop during the day. The S&P 500 slipped 0.08%, while the Nasdaq Composite outperformed with a 0.4% advance. Despite the mixed finish, all three indexes remain on track for weekly gains, with the Nasdaq pacing ahead thanks to strength in technology shares.

What’s Driving Sentiment Around Tariffs?

President Donald Trump’s “reciprocal” tariffs went into effect at midnight Thursday, imposing some of the steepest duties on Syria (41%), Laos (40%), and Myanmar (40%).

Markets initially found support after Trump said his 100% tariff on imported semiconductor chips would not impact companies manufacturing domestically.

Investors continue to watch for clarity on how these measures will affect corporate supply chains, margins, and consumer costs. Thomas Martin of Globalt Investments noted that while some tariff uncertainty has eased, the broader impact remains a key concern for market direction.

What’s the Latest on the Federal Reserve?

In a notable policy move, Trump nominated Stephen Miran, current chair of the Council of Economic Advisors, to join the Federal Reserve Board of Governors following Adriana Kugler’s resignation.

Miran will serve the remainder of Kugler’s term, set to end in January. His appointment will be closely watched for potential influence on Fed policy, especially as traders monitor interest rate expectations.

Market Forecast: Can Weekly Gains Hold?

Heading into Friday’s session, the S&P 500 is up 1.6% for the week, the Dow is on pace for a 0.9% advance, and the Nasdaq is set for a 2.9% rise.

While futures point to a stronger open, traders will be closely tracking tariff developments and any signals from Fed officials.

Continued resilience in technology stocks could help sustain upside momentum, but policy uncertainty remains a critical variable that could sway sentiment quickly.

On the technical front, E-mini S&P 500 futures face near-term resistance at 6,426.75, with a breakout targeting 6,468.50. Immediate support is at 6,354.00, with stronger backing at 6,239.50 and the 50-day SMA near 6,223.

A decisive move outside this range could dictate the market’s short-term direction as traders assess tariff developments and potential Fed signals.

More Information in our Economic Calendar.