(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

*

Futures up: Dow 0.47%, S&P 500 0.65%, Nasdaq 0.77%

March 12 (Reuters) - U.S. stock index futures rose on

Wednesday, steadying after the previous session's volatility as

investors assessed the impact of President Donald Trump's

protectionist tariffs on base metal imports and looked ahead to

a key inflation report.

As Trump's 25% duty on all steel and aluminum imports, which

he announced last month, took effect, the European Commission

said it would retaliate with counter tariffs from next month,

making it the latest U.S. trade partner to be at loggerheads

with the administration.

Companies such as Ford, General Motors ( GM ), Howmet

and Honeywell, which use steel and aluminum in

their supply chains, were little changed in premarket trading.

Financial markets have been thrown into disarray, with

analysts warning of capital flight from Wall Street as concerns

mount that Trump's wavering tariff policy onslaught could stoke

inflation and possibly trigger a recession.

The uncertainty has also resulted in companies holding back

on investments and lowering forecasts, with Delta,

Kohl's and Walmart ( WMT ) being among the latest to do

so.

The tech-heavy Nasdaq confirmed a correction last

week, while the benchmark S&P 500 came close to

confirming a 10% drop from its February high in the previous

session.

Goldman Sachs became the first brokerage to lower its

2025-end target for the benchmark index to 6,200 from 6,500,

while J.P.Morgan sees a roughly 40% recession risk, up from a

30% chance at the start of the year.

At 05:39 a.m., Dow E-minis were up 196 points, or

0.47%, S&P 500 E-minis were up 36 points, or 0.65%, and

Nasdaq 100 E-minis were up 149.25 points, or 0.77%.

The Consumer Price Index figure for February, expected at

8:30 a.m. ET, will also be on the radar. Economists expect the

data to point to cooling inflation from the previous month, but

a hit from tariffs could reflect in upcoming reports.

Interest rate futures point to the U.S. Federal Reserve

keeping borrowing costs unchanged until June at its meeting next

week. However, traders expect that signs of economic weakness

could force the central bank to deliver at least 75 basis points

worth of interest-rate cuts by December.

Among top movers, Intel ( INTC ) jumped 8.2% in premarket

trading after a report said TSMC has pitched chip

designers Nvidia ( NVDA ), Advanced Micro Devices ( AMD ) and Broadcom ( AVGO ) about

taking a stake in a joint venture to operate the U.S. chip

company's factories.

Nvidia ( NVDA ) rose 1.6%, while Advanced Micro Devices ( AMD )

and Broadcom ( AVGO ) added 0.9% each.

Walmart ( WMT ) dipped 0.7%. Chinese officials met its

representatives this week to discuss media reports that the

company has asked suppliers in China to slash prices to offset

U.S. tariffs, state media said.

The Republican-controlled U.S. House of Representatives

passed a stopgap bill to keep federal agencies funded past

Friday, giving investors breathing room.

The markets also monitored geopolitical developments after

Ukraine agreed to a 30-day ceasefire with Russia.