07:34 AM EDT, 07/09/2025 (MT Newswires) -- The main US stock measures were pointing higher in Wednesday's premarket activity as traders evaluate President Donald Trump's latest announcements on tariffs and await minutes of the Federal Reserve's last policy meeting.

The S&P 500 and the Dow Jones Industrial Average inclined 0.2% each before the opening bell, while the Nasdaq ticked up 0.1%. The S&P 500 and the Dow finished Tuesday's trading session lower, while the Nasdaq closed slightly in the green.

During a Cabinet meeting on Tuesday, Trump reportedly announced plans to impose 50% duties on copper imports and threatened to set tariffs of up to 200% on pharmaceutical products. Trump suggested he may give drug manufacturers a certain period of time to "get their act together," CNBC reported.

Trump sent letters to 14 nations earlier in the week, including Japan, South Africa, Malaysia and Thailand, informing them of their new reciprocal tariff rates that are scheduled to come into effect on Aug. 1.

In a social media post on Tuesday, Trump said he will send letters to additional US trading partners. "No extensions will be granted" beyond Aug. 1, he wrote on Truth Social.

US Treasury yields were down before the open, with the two- and 10-year rates retreating 1.4 basis points each to 3.9% and 4.4%, respectively.

The Federal Reserve is scheduled to post minutes of its last policy session at 2 pm ET, which will be assessed for clues on the central bank's monetary policy. The Fed left its benchmark lending rate unchanged for a fourth straight meeting last month, while acknowledging that economic uncertainty had dropped.

Fed Chair Jerome Powell told US lawmakers in June that policymakers can continue to wait and evaluate how the economy responds to policy changes before the central bank adjusts its benchmark rate. Trump has repeatedly called on the Fed to cut interest rates.

Wednesday's economic calendar also has the weekly mortgage applications bulletin and the weekly EIA domestic petroleum inventories report.

Shares of Intel ( INTC ) edged down 0.7% pre-bell after closing the previous trading session up 7.2%, as the chipmaker disclosed plans to lay off over 500 employees. Verona Pharma's ( VRNA ) US-listed shares spiked 20% after the British biopharmaceutical company agreed to be acquired by Merck ( MRK ) in a deal worth about $10 billion.

Apple ( AAPL ) was down slightly after announcing that Sabih Khan will succeed Jeff Williams as chief operating officer of the tech giant.

West Texas Intermediate crude oil rose 0.3% to $68.56 a barrel in premarket action. Gold decreased 0.5% to $3,302 per troy ounce, while bitcoin traded up slightly at $108,892.