US stock futures rise as targeted tariffs anticipated
US stock futures rose in early trading as expectations grew that the upcoming tariffs from President Donald Trump could be more focused than initially thought. The S&P 500 futures increased, while Japanese shares saw mixed results and Australia's market declined. The US dollar weakened against major currencies, and the yield on 10-year Treasury bonds rose. Investor sentiment is improving ahead of the new tariffs, which are set to be announced on April 2. Officials indicated that these tariffs may not cover as broad a range as previously suggested. However, there are still concerns in Australia and China about potential economic shocks from US trade policies. Chinese Premier Li Qiang warned that the country is ready for unexpected impacts from the tariffs. In Australia, Treasurer Jim Chalmers highlighted that the US administration's decisions could have a major effect on the global economy. Analysts from Commonwealth Bank of Australia expect that news leaks and comments from Trump may strengthen the US dollar in the coming days. In Canada, the dollar remained stable as Prime Minister Mark Carney called for a snap election on April 28, with polls showing a close race. He has also announced measures to reduce the economic effects of US tariffs, such as delaying corporate tax payments. Meanwhile, Turkish assets may experience more volatility after the formal arrest of a key opposition politician. The Turkish central bank held a meeting with banks to discuss this volatility, and the market regulator implemented a ban on short selling of stocks. In the commodities market, oil prices held steady as traders assessed the implications of the new US tariffs and an expected increase in supply from OPEC+. This week, traders will closely monitor economic data from Europe, the UK, and the US to gauge potential slowdowns due to tariff-related uncertainties. Inflation data from Australia is expected soon, followed by the US Personal Consumption Expenditure report at the end of the week.