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

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Tesla up after Morgan Stanley reinstates stock as 'top

pick'

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Crypto stocks surge after Trump hints at new bitcoin

reserve

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

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Futures up: Dow 0.29%, S&P 500 0.44%, Nasdaq 0.74%

(Updates to before markets open)

By Johann M Cherian and Sukriti Gupta

March 3 (Reuters) - Wall Street's main indexes were set

for a higher open 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.

At 08:29 a.m. ET, Dow E-minis were up 126 points,

or 0.29%, S&P 500 E-minis were up 26.25 points, or 0.44%

and Nasdaq 100 E-minis were up 154 points, or 0.74%.

U.S. stock indexes were pointing to higher open after they

logged their first monthly decline of 2025 in February, during

which the Nasdaq also came close to a 10% drop from its all-time

high due to fears of sticky inflation and other factors.

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.

Trump's Tuesday deadline will end the one-month pause on 25%

tariffs he imposed on imports from Canada and Mexico after

reaching border control agreements.

However, Commerce Secretary Howard Lutnick's comments on

Sunday sparked expectations that the levels of the duties might

be lower than the threatened tariffs.

"Most of Wall Street still believes that the tariffs are

rhetoric rather than reality," said Sam Stovall, chief

investment strategist at CFRA Research."

"The purpose of the tariff by the administration is to make

changes with the trading partners, not to end trade with

(them)."

The Federal Reserve has left interest rates on hold since

December in anticipation of sticky inflation, but 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.

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.

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 on Beijing's expected moves, with Nio and JD.com

off about 1% each in premarket trading.

Meanwhile, megacaps such as Alphabet and

Amazon.com ( AMZN ) rose about 0.9% each, while chip stocks such

as Broadcom ( AVGO ) and Advanced Micro Devices ( AMD ) added

2.4% and 1.9%, respectively.

Tesla rose 3.3% after Morgan Stanley reinstated the

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

Futures tracking the small-caps Russell rose 0.8%.

Crypto stocks such as MicroStrategy ( MSTR ) jumped 13%,

Coinbase rose 9.5% after Trump announced a proposed

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

Summit.

Chipmaker Intel rose 5.9% 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)