09:16 AM EDT, 07/23/2025 (MT Newswires) -- US stocks look set to open higher in Wednesday's trading session after the US announced a trade deal with Japan late Tuesday

Dow Jones Industrial Average futures were up 0.52%, S&P 500 futures rose 0.34%, and Nasdaq futures gained 0.08%.

Oil prices were moving lower, with front-month global benchmarks Brent crude and West Texas Intermediate crude declining 0.48% and 0.41%, respectively.

In other world markets, Japan's Nikkei soared 3.51%, Hong Kong's Hang Seng surged 1.62%, and China's Shanghai Composite edged 0.01% higher. In Europe's early afternoon session, the UK's FTSE 100 was up 0.48%, while Germany's DAX gained 0.58% and France's CAC 40 rose 1.21%.

President Trump disclosed a trade deal with Japan late Tuesday, which was marked by 15% import levies, rather than the 25% tariffs that had previously been proposed. Japanese automobiles also will fall under the lower tariff rate, while Tokyo agreed to import more US goods, including rice and automobiles.

Existing home sales figures for June are expected to decline slightly to an annual rate of 4 million from 4.03 million the previous month, according to Bloomberg.

Weekly crude oil inventories, which track the weekly change in barrels of commercial crude oil held by US firms, are expected to decrease by 1.4 million barrels.

In equities, shares of ABIVAX Societe Anonyme (ABVX) soared 510% after it reported positive topline results late Tuesday from its phase 3 trial of obefazimod to treat adult patients with moderate to severely active ulcerative colitis. Shares of Pineapple Financial ( PAPL ) shot up 176%, adding to a 7.7% gain the previous session. GoPro (GPRO) shares jumped 80%, adding to a 41% rise on Tuesday.

On the losing side, Fiserv ( FI ) dropped 16% after it reported Q2 earnings Wednesday. Pharvaris ( PHVS ) dropped more than 10% after it priced an upsized $175 million securities offering. Shares of Texas Instruments ( TXN ) fell more than 10% after it issued a Q3 earnings outlook below market estimates at the midpoint.