*
Futures up: Dow 0.29%, S&P 500 0.24%, Nasdaq 0.21%
*
AES ( AES ) jumps on report of potential sale efforts
*
UnitedHealth ( UNH ) down on report of DOJ probing co's Medicare
billing
(Updates with prices, analyst comment before the opening bell)
By Pranav Kashyap and Nikhil Sharma
July 9 (Reuters) -
Wall Street looked poised for a higher open on Wednesday, as
investors shrugged off President Donald Trump's
aggressive tariff moves and kept a close watch on
negotiations with global trade partners.
At 8:20 a.m. ET, U.S. S&P 500 E-minis were up 15.25
points, or 0.24%, Nasdaq 100 E-minis were up 47.25
points, or 0.21%, and Dow E-minis were up 127 points, or
0.29%.
Trump ramped up his trade offensive on Tuesday, announcing a
50% tariff on copper and vowing to slap long-threatened levies
on semiconductors and pharmaceuticals.
This came just a day after he
jolted 14 trading partners
with a fresh wave of tariff warnings, and said that at
least
seven new notices
would drop later in the day.
The market's reaction to the latest salvo was
muted
compared with Monday's selloff - triggered by the White
House's new tariff threats against Japan and South Korea.
With tariff deadlines now pushed to August 1, investors
are pinning their hopes on negotiations to avert a full-blown
trade war.
"Markets have gotten used to how Trump negotiates, where
he goes very aggressive to begin with and then we end up at a
much lower level," said Ross Bramwell, investment strategist at
Homrich Berg.
"They will react if they see an impact of tariffs in
second-quarter earnings next week. But if earnings continue to
improve, that just gives them an even longer wait for the tariff
negotiations to get finalized."
European Commission President Ursula von der Leyen said
the EU is
working closely
with the Trump administration to hammer out a deal, but it
is bracing for any outcome.
Meanwhile, after last week's record closes for the S&P
500 and the Nasdaq - buoyed by a
surprisingly robust jobs report
-investors are turning their attention to Thursday's
initial jobless claims for the next pulse check on the labor
market.
The Dow was about 1.9% away from an all-time
high.
Traders will also parse through the minutes from the Federal
Reserve's June meeting, due at 2:00 p.m. ET, for any hints about
when policymakers might resume easing rates.
While a July rate reduction is almost fully ruled out, the
odds of a September cut stand at about 63%, according to CME
Group's FedWatch tool.
Amid Trump's chaotic tariff policies, the Fed has refrained
from cutting interest rates, wary of how trade uncertainty may
impact growth and inflation.
Among stocks, AES Corp ( AES ) rose 13.5% in premarket
trading after Bloomberg reported that the power provider was
exploring options, including a sale.
Health insurer UnitedHealth Group ( UNH ) slipped 1.6% after
the Wall Street Journal reported that the U.S. Department of
Justice was investigating how the company deployed doctors and
nurses to gather diagnoses that increased its Medicare payments.
Shares of U.S. advertising firms Interpublic and
Omnicom ( OMC ) fell over 3% each, after peer WPP ( WPP )
slashed its annual profit guidance.