US pre-open: Stocks to recover amid hopes of tariff compromise
By Michele Maatouk
Date: Wednesday 05 Mar 2025
(Sharecast News) - US stock futures pointed to a firmer open on Wall Street on Wednesday following heavy losses in the previous session, when worries about Trump's trade war sent markets tumbling.
At 1050 GMT, Dow Jones Industrial Average futures were up 0.6%, while S&P 500 and Nasdaq futures were 0.7% and 0.9% higher, respectively.
Sentiment was boosted after US Commerce Secretary Howard Lutnick said on 'Fox Business' that the US might meet Canada and Mexico "in the middle" to "work something out" on tariffs.
Russ Mould, investment director at AJ Bell, said: "Investors are looking for any signs that Trump is open to deals rather than doling out tariffs and refusing to listen. US commerce secretary Howard Lutnick hinted we might soon see an amendment to the tariff structure that came into force this week.
"Markets would take even the slightest rollback from Trump as a positive sign, helping to settle nerves following concerns about a full-blown trade war."
The mood also brightened after Ukrainian President Volodymyr Zelensky said that his meeting with Trump last week was "regrettable" and that he was ready to negotiate peace.
Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Expectations have risen that US relations with Ukraine are warming up from the ice-cold intensity of Friday's Oval Office meeting between Trump, Vance and Zelensky.
"Trump brandished a letter from the Ukrainian President, in his address to Congress, which he said indicated Kyiv was ready to come to the negotiating table. The renewed willingness from Zelensky to sign a minerals deal has led to hopes that a way can be found out of a diplomatic quagmire, which has eased some geopolitics fears."
On the macroeconomic front, the ADP report for February is due at 1315 GMT.
On the corporate side, meanwhile, cybersecurity provider CrowdStrike tumbled as the company's first-quarter guidance missed estimates.
Quarterly earnings are due from Abercrombie & Fitch and Campbell's, among others.
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