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US STOCKS-Wall St futures ease after Nvidia's $4 trillion run; data, trade talks in focus
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US STOCKS-Wall St futures ease after Nvidia's $4 trillion run; data, trade talks in focus
Jul 10, 2025 3:30 AM

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

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

*

Futures down: Dow 0.24%, S&P 500 0.19%, Nasdaq 0.16%

July 10 (Reuters) - U.S. stock index futures eased on

Thursday, a day after markets were supported by Nvidia's ( NVDA )

fleeting $4 trillion milestone, while investors shifted their

focus to upcoming economic data and pivotal trade talks.

At 5:30 a.m. ET, Dow E-minis were down 107 points,

or 0.24%, U.S. S&P 500 E-minis were down 11.75 points,

or 0.19%, and Nasdaq 100 E-minis were down 38 points, or

0.16%.

President Donald Trump announced on Wednesday a new 50%

tariff on copper to start on August 1 and threatened a 50%

tariff on exports to the U.S. from Brazil. He also issued tariff

notices to seven minor trading partners.

U.S-listed shares of Brazilian firms fell in premarket

trading, with Petrobras and Itau Unibanco down

1.3% each. Banco Santander lost 2.1%.

Yet, several countries are still waiting for official word

from the White House, as investors keep a close eye on the

evolving trade negotiations.

Hopes are also high for a breakthrough with India, with both

Trump and top officials hinting a deal is within reach, while

talks with the European Union inch closer to a framework

agreement.

Wall Street closed higher on Wednesday, with the tech-heavy

Nasdaq notching a record close - propelled by Nvidia's ( NVDA )

historic leap to a $4 trillion valuation, making it the

first company ever to hit that mark.

The chip giant's shares continued to climb, up 0.4% in

premarket trading.

The S&P 500 and the Dow also eked out gains,

buoyed by the minutes from the Federal Reserve's June meeting

that showed most officials said they expect rate cuts will be

appropriate later this year, with price shocks from Trump's

import taxes expected to be "temporary or modest."

While a July Fed rate cut seems off the table, the odds of a

September reduction rose to about 70% after the minutes'

release, up from around 60%, according to CME Group's FedWatch

tool.

"The resilient U.S. economic backdrop gives the Fed time to

study the effects of tariff increases on prices and growth

before resuming interest-rate reductions," said Elias Haddad,

senior markets strategist at Brown Brothers Harriman.

Last week's robust labor market report sent Wall Street's

major indexes to fresh record highs, signaling a rebound from

April's sharp sell-off following "Liberation Day" tariff

announcements.

Now, the blue-chip Dow is 1.4% away from reclaiming its

December 4 all-time high.

Investors will parse through a reading of initial jobless

claims figures for the week of July 5, due at 8:30 a.m. ET, for

the next pulse check on the labor market.

Among stocks, WK Kellogg leapt 50.1% following

reports that Italian candy maker Ferrero was nearing a deal to

buy the cereal maker.

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