US pre-open: Futures higher following solid gains in previous session
By Iain Gilbert
Date: Tuesday 05 Aug 2025
(Sharecast News) - Wall Street futures were in the green ahead of the bell on Tuesday following solid gains in the previous session.
As of 1200 BST, Dow Jones futures were up 0.05%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.24% and 0.35% firmer, respectively.
The Dow closed 585.06 points higher on Monday as US stocks rebounded strongly, as gloomy economic data raised the likelihood that the Federal Reserve will cut interest rates in an effort to shore up the economy.
In focus early on Tuesday was news that Donald Trump had threatened even higher tariffs on Indian imports to the US a day earlier, citing the country's purchases of Russian oil.
"India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," Trump said.
India later said it was being "targeted" by the US and European Union over crude imports, with the country's foreign ministry saying it was "revealing that the very nations criticising India are themselves indulging in trade with Russia".
On the macro front, June's goods trade balance report will be published at 1330 BST, while S&P Global's July services PMI was slated for release at 1445 BST, and last month's ISM services PMI will follow at 1500 BST.
In the corporate space, Palantir traded higher in pre-market hours after the defence technology company revealed Q2 revenues had surpassed $1bn for the first time.
In terms of Tuesday's earnings slate, Caterpillar, Pfizer, Yum! Brands and Fox will all report earnings before the open, while chipmaker AMD and social media outfit Snap will publish their latest quarterly numbers after the close.
Reporting by Iain Gilbert at Sharecast.com
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