US Stock Market: Dow futures indicate a gap-up opening on April 14—All eyes on Fed officials' remarks
US Stock Market Update: Dow Jones Industrial Average (DJIA) futures rose as much as 574 points, or 1.4 per cent, to 40,973 on Monday evening in India, indicating a likely gap-up opening to the session later on April 14. On Friday, the Dow Jones—one of the two main US blue-chip benchmarks—jumped 619.1 points, or 1.6 per cent, to settle at 40,212.7, driven by an across-the-board rally with technology, energy, material and financial stocks leading the gains.
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06:53 PM IST
US Stock Market Update: Dow Jones Industrial Average (DJIA) futures—an early indicator of the American blue-chip index—jumped as much as 619.1 points, or 1.6 per cent, to 40,212.7 as investors awaited the start of a holiday-truncated trading week on Wall Street. The near-month contract suggested a gap-up start to Monday’s session, on top of a 1.6 per cent broad-based jump in the index last Friday.
However, investors remain on the edge amid back and forth on the trade tariff front since US President Donald Trump’s April 2 announcements, and a series of retaliatory actions by America’s major trade partners.
Many analysts have raised concerns about the potential impact of an all-out trade way on global economy and inflation.
Dow Jones set for a muted start on April 14? What DJIA futures are signalling
At 6:33 pm in India (7:53 am Eastern Time), DJIA futures held on firmly to the green, quoting higher by 450 points, or 1.1 per cent, at 40,849.
Back home, stock exchanges BSE and NSE remained shut for Ambedkar Jayanti on Monday, on track to resume trading on Tuesday.
US Share Market Triggers | Key things to track on Monday
Fed Governor Christopher Waller and Federal Reserve Bank of Richmond CEO Tom Barkin are slated to speak during the day.
A key reading of consumer inflation expectations in the world’s largest economy is also due on Monday.
Latest Trump tariff announcements
On Sunday, the US President said he would announce a tariff rate for imported semiconductors over the next week, though he did promise flexibility with some companies in the sector. In other words, his pledge could mean the exclusion of smartphones and computers from his reciprocal tariffs on China likely will be short-lived.
ALSO READ: Trump administration exempts smartphones, laptops from tariffs to ease consumer impact
Earlier that day, he announced a national security trade investigation into the semiconductor space.
How Dow Jones Fared on Friday, April 11
Here’s where major US indices stood at the end of Friday’s trade:
- DJIA: up 619.1 points, or 1.6 per cent, at 40,212.7
- S&P 500: up 95.3 points, or 1.8 per cent, 5,363.4
- Nasdaq: up 337.1 points, or 2.1 per cent, at 16,724.5
- Russell 2000: up 28.8 points, or 1.6 per cent, at 1,860.2
ALSO READ: Tit-for-Tat Tariffs: How reciprocal tax influences global trade
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