Wall Street futures edge up amid tariff talks, trade turbulence

July 9 (Reuters) - U.S. stock index futures edged up on Wednesday, as investors navigated the currents of President Donald Trump's aggressive tariff moves and kept a close watch on negotiations with global trade partners. By 5:28 a.m. ET, U.S. S&P 500 E-minis were up 8.5 points, or 0.14%, Nasdaq 100 E-minis were higher 29 points, or 0.13%, Dow E-minis were up 78 points, or 0.18%. Trump said on Tuesday he would impose a 50% tariff on imported copper and soon introduce long-threatened levies on semiconductors and pharmaceuticals, a day after he pressured 14 trading partners with fresh tariff letters. He said "a minimum of seven" tariff notices would be released on Wednesday. After Monday's sharp sell-off, sparked by the White House's sweeping new tariff threats against major trading partners like Japan and South Korea, Wall Street's reaction remained relatively muted. The S&P 500 (.SPX), opens new tab and the tech-heavy Nasdaq (.IXIC), opens new tab both closed little changed on Tuesday, a stark contrast to the wild volatility following Trump's "Liberation Day" tariff announcement in April. With the deadline for tariffs now moved to August 1, investors are pinning their hopes on negotiations to stave off an all-out trade war. "Market volatility is likely to pick up, but the latest development does not constitute an escalation in the trade war," UBS analysts said. Last week, the S&P 500 and the Nasdaq closed at record highs following a surprisingly strong jobs report that pointed to resilience in the labor market. Now, markets await Thursday's initial jobless claims figures for further insights into the labor market. 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 could impact growth and inflation. Among stocks, AES Corp (AES.N), opens new tab rose 10.7% in premarket trading after Bloomberg News reported that the power provider was exploring options including a sale. Shares of U.S. advertising firms Interpublic (IPG.N), opens new tab and Omnicom (OMC.N), opens new tab fell over 2.9% and 3.4% respectively, after peer WPP (WPP.L), opens new tab slashed its annual profit guidance. Reporting by Pranav Kashyap in Bengaluru; Editing by Maju Samuel Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Stocks

Wall Street futures edge up amid tariff talks, trade turbulence

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