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- Wall Street futures edge up amid tariff talks, trade turbulence</p>
<p>July 9, 2025 at 6:17 AM</p>
<p>(Reuters) -U.S. stock index futures edged up on Wednesday, as investors navigated the currents of President Donald Trump's aggressive tariff moves and kept a close watch on negotiations with global trade partners.</p>
<p>By 5:28 a.m. ET, U.S. S&P 500 E-minis were up 8.5 points, or 0.14%, Nasdaq 100 E-minis were higher 29 points, or 0.13%, Dow E-minis were up 78 points, or 0.18%.</p>
<p>Trump said on Tuesday he would impose a 50% tariff on imported copper and soon introduce long-threatened levies on semiconductors and pharmaceuticals, a day after he pressured 14 trading partners with fresh tariff letters. He said "a minimum of seven" tariff notices would be released on Wednesday.</p>
<p>After Monday's sharp sell-off, sparked by the White House's sweeping new tariff threats against major trading partners like Japan and South Korea, Wall Street's reaction remained relatively muted.</p>
<p>The S&P 500 and the tech-heavy Nasdaq both closed little changed on Tuesday, a stark contrast to the wild volatility following Trump's "Liberation Day" tariff announcement in April.</p>
<p>With the deadline for tariffs now moved to August 1, investors are pinning their hopes on negotiations to stave off an all-out trade war.</p>
<p>"Market volatility is likely to pick up, but the latest development does not constitute an escalation in the trade war," UBS analysts said.</p>
<p>Last week, the S&P 500 and the Nasdaq closed at record highs following a surprisingly strong jobs report that pointed to resilience in the labor market. Now, markets await Thursday's initial jobless claims figures for further insights into the labor market.</p>
<p>Traders will also parse through the minutes from the Federal Reserve's June meeting, due at 2:00 p.m. ET, for any hints about when policymakers might resume easing rates.</p>
<p>While a July rate reduction is almost fully ruled out, the odds of a September cut stand at about 63%, according to CME Group's FedWatch tool.</p>
<p>Amid Trump's chaotic tariff policies, the Fed has refrained from cutting interest rates, wary of how trade uncertainty could impact growth and inflation.</p>
<p>Among stocks, AES Corp rose 10.7% in premarket trading after Bloomberg News reported that the power provider was exploring options including a sale.</p>
<p>Shares of U.S. advertising firms Interpublic and Omnicom fell over 2.9% and 3.4% respectively, after peer WPP slashed its annual profit guidance.</p>
<p>(Reporting by Pranav Kashyap in Bengaluru; Editing by Maju Samuel)</p>
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