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US STOCKS-Futures rise ahead of economic data; tariffs in focus
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US STOCKS-Futures rise ahead of economic data; tariffs in focus
Mar 3, 2025 5:38 AM

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

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

*

Intel ( INTC ) up after report of Nvidia ( NVDA ), Broadcom ( AVGO ) collaboration

*

Tesla up after Morgan Stanley reinstates stock as 'top

pick'

*

Crypto stocks surge after Trump hints at new bitcoin

reserve

*

February ISM manufacturing data due at 10 a.m. ET

*

Futures up: Dow 0.45%, S&P 500 0.59%, Nasdaq 0.83%

(Updates with analyst comment)

By Johann M Cherian and Sukriti Gupta

March 3 (Reuters) - U.S. stock index futures rose on

Monday, ahead of a crucial deadline on tariffs on top trade

partners, while investors awaited a number of data reports to

gauge the health of the world's largest economy.

Recent reports of softening consumer demand have spurred

fears of a slowdown as markets prepare for higher inflation once

Donald Trump administration's tariff policies take full effect.

Wall Street's three main indexes logged their first monthly

decline of 2025 in February, with the Nasdaq coming close to a

10% drop from its all-time high, due to fears of sticky

inflation and other factors.

At 07:20 a.m. ET, Dow E-minis were up 197 points,

or 0.45%, S&P 500 E-minis were up 35.25 points, or

0.59%, and Nasdaq 100 E-minis were up 172.75 points, or

0.83%.

Although, the Federal Reserve has left interest rates on

hold since December, this week's economic data, particularly

Friday's non-farm payrolls report, could change the

institution's outlook.

A survey from the Institute for Supply Management's (ISM)

survey, due at 10 a.m. ET, is expected to show that

manufacturing activity stood in expansion territory at 50.8 in

February.

Investors will also focus on other crucial data on services

activity and employment, lined up through the week.

"The U.S. calendar will also be watched closely this week,

as some soft data recently dented the notion of U.S.

exceptionalism," analysts at ING Economics said in a note.

"We expect ISM surveys to reaffirm that the U.S. has started

the year on a soft tone."

Traders have dialed up bets on the Fed's 2025 monetary

policy easing cycle, with futures pointing to at least two 25

basis points worth of interest rate cuts by December, according

to data compiled by LSEG.

St. Louis Fed President Alberto Musalem, a Federal Open

Market Committee voting member, is scheduled to speak later in

the day, while Fed Chair Jerome Powell's remarks are due on

Friday.

Investors are also uncertain about tariffs, ahead of Trump's

Tuesday deadline, that will end the one-month pause on 25%

tariffs he imposed on imports from Canada and Mexico.

Commerce Secretary Howard Lutnick's comments sparked

expectations that the levels of the duties might be different

this time.

Trump has also threatened that an extra 10% duty on imports

from China will also take effect on Tuesday, against which a

report said Beijing is likely to retaliate with counter-measures

on agricultural imports from the U.S.

U.S-listed shares of Chinese companies fell following the

report, with Nio down 3.4% and JD.com off 1.9% in

premarket trading.

Tesla rose 3.5% after Morgan Stanley reinstated the

stock as 'top pick' among U.S. autos.

Megacaps such as Alphabet and Amazon.com ( AMZN )

rose 0.9% each, while chip stocks such as Broadcom ( AVGO ) and

Advanced Micro Devices ( AMD ) added over 1.3% each.

Crypto stocks such as Microstrategy ( MSTR ) jumped 12.9%,

Coinbase rose 9.4% after Trump announced a proposed

reserve of digital assets, ahead of Friday's White House Crypto

Summit.

Chipmaker Intel rose 5.2% after a report that chip

designers Nvidia ( NVDA ) and Broadcom ( AVGO ) were running

manufacturing tests with the company.

(Reporting by Johann M Cherian in Bengaluru; Editing by

Shinjini Ganguli)

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