07:18 AM EST, 02/10/2025 (MT Newswires) -- The benchmark US stock measures were trending upwards before Monday's opening bell as traders digest President Donald Trump's latest tariff plan and await key inflation data later in the week.

Standard & Poor's 500 rose 0.5%, the Dow Jones Industrial Average increased 0.4% and the Nasdaq added 0.7% in premarket activity. Most Asian exchanges were pointing higher while European bourses were tracking in the green midday on the continent.

Trump said over the weekend that he plans to impose new 25% tariffs on all steel and aluminum imports into the US, according to various media publications.

Shares of United States Steel ( X ) climbed 5.6% pre-bell after Trump reportedly said on Friday that Nippon Steel will make a major investment in the company instead of acquiring it. Hims & Hers Health ( HIMS ) gained 4.1% while Alibaba Group's ( BABA ) US-listed stock inclined 4.8%.

With no economic reports scheduled for Monday, investors will be looking ahead to the consumer price index for January on Wednesday followed by the producer price index for the same month on Thursday. Last month's retail sales report is out on Friday. Federal Reserve Chair Jerome Powell is set to testify before the US Senate Committee on Banking, Housing, and Urban Affairs on Tuesday and the House Financial Services Committee on Wednesday.

McDonald's (MCD), Rockwell Automation ( ROK ) , ON Semiconductor (ON), Loews ( L ) , Incyte ( INCY ) , CNA Financial ( CNA ) , Monday.com ( MNDY ) and Roivant Sciences ( ROIV ) report their latest financial results before the bell, among others. Vertex Pharmaceuticals ( VRTX ) posts earnings after markets close.

Before the open, bitcoin traded up 1.5% at $97,838, West Texas Intermediate crude oil advanced 1.2% to $71.86 a barrel, yields on 10-year Treasuries rose 1.2 basis points to nearly 4.5% and gold moved 1.5% higher to $2,930 an ounce.