US pre-open: Futures mixed as tariffs remain in focus

(Sharecast News) - Wall Street futures were mixed ahead of the bell on Friday as traders continued to assess the impact of Donald Trump's "reciprocal" tariffs on the US economy. As of 1230 BST, Dow Jones futures were down 0.14%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.21% and 0.18% firmer, respectively.

The Dow closed 486.83 points higher on Thursday, extending gains recorded in the previous session.

Trade Nation's David Morrison said: "This morning's moves built on gains made over the last three trading sessions. Yet the week began badly. All the US majors gapped lower in the early hours of Sunday as traders reacted to President Trump's hostile comments over the weekend directed at Federal Reserve Chair Jerome Powell.

"Many interpreted Mr Trump's social media posts as a direct threat to fire Mr Powell. But the president swiftly rowed back on his comments, insisting that he had: 'No intention' of dismissing the head of the US central bank. This denial, alongside statements indicating that tariffs against China could soon be reduced, and suggesting that China and the US were engaged in negotiations to agree a trade deal, caused a rapid turnaround in US equities."

On the macro front, the University of Michigan's April consumer sentiment index will be released at 1500 BST.

In the corporate space, shares in Google-parent Alphabet were higher in pre-market trading after it posted a beat on both the top and bottom lines in Q1, while Intel shares headed south after issuing some disappointing guidance.

Reporting by Iain Gilbert at Sharecast.com