US stock futures rose after President Donald Trump said he plans to hold a news conference Thursday to discuss a major trade deal.

Futures erased earlier losses and rose 0.4% after Trump said this in a Truth Social post, though he didn’t elaborate on which country he was referring, nor the scope or details of any potential agreement. Asian stocks traded in a tight range at the open after the Federal Reserve reiterated it isn’t in a rush to lower interest rates.

Equity index futures for the S&P 500 and the Nasdaq 100 gained on Trump’s tweet. Asian stocks pared losses.

Traders have stayed cautious after Federal Reserve Chair Jerome Powell assuaged concerns about the US economy while warning that the risks of higher unemployment and faster inflation have risen. Global stocks have edged down this week after four consecutive weeks of gains as investors wait on the results of trade negotiations between several countries and the US, with a key focus on China.r

Trump earlier said he’s unwilling to preemptively lower tariffs on China in order to unlock more substantive negotiations with Beijing on trade. Stocks got a lift Wednesday after China and the US announced plans to do trade talks in Switzerland this weekend.

Market turbulence has calmed significantly since the first weeks of April, partly thanks to Trump’s trade concessions but also owing to a string of economic reports that gave confidence to bulls. Friday’s jobs report, which showed unemployment held steady at 4.2%, followed readings on the services economy and inflation that also offered few recessionary signals. 

How long the good news will last as Trump’s trade policies play out is the biggest question confronting central bankers.

“The Fed is not really sure where tariffs are going to land, which is important, and when they land they’re not really sure what the consequences are going to be on growth versus inflation,” said William Dudley, the former New York Fed president, on Bloomberg Television. “This is not just about the central scenario, it’s also about risk management. Try not to do the wrong thing so that you can respond effectively as things actually unfold.”

Key Events This Week

Some of the main moves in markets:

Stocks

  • S&P 500 futures rose 0.4% as of 10:10 a.m. Tokyo time

  • Hang Seng futures fell 0.6%

  • Japan’s Topix fell 0.2%

  • Australia’s S&P/ASX 200 was little changed

  • Euro Stoxx 50 futures rose 0.4%

Currencies

  • The Bloomberg Dollar Spot Index was little changed

  • The euro rose 0.1% to $1.1316

  • The Japanese yen was little changed at 143.77 per dollar

  • The offshore yuan was little changed at 7.2223 per dollar

Cryptocurrencies

  • Bitcoin rose 1.2% to $97,986.96

  • Ether rose 1.7% to $1,829.02

Bonds

  • The yield on 10-year Treasuries advanced one basis point to 4.28%

  • Australia’s 10-year yield declined five basis points to 4.23%

Commodities

  • West Texas Intermediate crude rose 0.4% to $58.29 a barrel

  • Spot gold rose 0.8% to $3,392.50 an ounce

This story was produced with the assistance of Bloomberg Automation.

© 2025 Bloomberg L.P.

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