American stock futures rose steadily when US President Donald Trump agreed to postpone his plan to impose steep rates on Canada and Mexico by 30 days.
Nasdaq Futures (NQ = F) climbed 0.7%, while S&P 500 Futures (ES = F) Reden 0.5%and Dow Futures (YM = F) inch.
On Monday, Trump closed separately deals with Mexico and Canada to postpone the implementation of 25% rates on each country, which would come into effect on Tuesday. Both American neighbors agreed to send more troops to their borders with the US, including actions, to buy time to negotiate the trade.
Trump’s plan to set a 10% rate on Chinese goods from Tuesday remains in force, where the president expects to speak this week with Chinese President Xi Jinping.
Companies with exposure to China feel the burn. Shares in Chipgigant Nvidia (NVDA) fell nearly 3% on Monday before they recovered 1.83% in the trade after the hours. Apple (AAPL) fell 3.39% during the day and remained just after the bell. EV manufacturer Tesla (TSLA) led the road down for automatic shares and dived 5.1% before he returned 1.39% after the market.
Palantir (PLTR) brought some cheerful news to Wall Street to Wall Street on Monday. Investors welcomed the first quarter and annual revenue forecasts of the company, both of which exceeded expectations. Palantir shares shot up 23.9%.
In the meantime, American dollar indexes (DX = F) continue to rise after a light pull-back of approaching all time. The Canadian dollar and the Mexican peso also recovered after news that the countries would not be subject to rates on Tuesday.
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Coverage of the stock market for Tuesday 4 February 2025