U.S. stock index futures rose on Wednesday evening after President Donald Trump said his administration reached a framework deal on Greenland, and that he will not tariff European countries over the territory.
Futures extended gains after a strong session on Wall Street, where stocks rebounded from a steep selldown earlier in the week. Trump had earlier threatened to tariff eight European countries until they handed over Greenland to the United States.
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With geopolitical tensions now cooling, focus turns to a swathe of major earning prints due in the coming days, as well as a Federal Reserve meeting.
S&P 500 Futures rose 0.2% to 6,923.75 points by 19:07 ET (00:07 GMT). Nasdaq 100 Futures rose 0.3% to 25,550.0 points, while Dow Jones Futures rose 0.1% to 49,320.0 points.
Wall St rebounds after Trump announces Greenland framework deal Wall Street indexes rebounded sharply from earlier losses on Wednesday, after Trump said his administration formed the framework for a potential deal with NATO involving Greenland and the Arctic.
As a result of this deal, Trump said he will not impose trade tariffs on eight European countries from February 1, as he had threatened earlier.
While Trump did not provide any major details on the framework, his comments helped temper concerns over a showdown between the U.S. and other NATO countries over Greenland. Trump has repeatedly demanded that Greenland become a part of the U.S., although it remained unclear whether he had dropped this demand after Wednesday’s deal.
Wall Street indexes, which were nursing steep losses from heightened geopolitical tensions this week, rebounded sharply on Trump’s statement.
The S&P 500 jumped 1.2% to 6,875.62 points. The NASDAQ Composite rose 1.2% to 23,224.83 points, while the Dow Jones Industrial Average rose 1.2% to 49,076.98 points.
Intel, P&G set to report earnings; big tech due next week The fourth quarter earnings season is set to continue on Thursday, with majors including Procter & Gamble Company (NYSE:PG), GE Aerospace (NYSE:GE), Intel Corporation (NASDAQ:INTC), and Abbott Laboratories (NYSE:ABT) set to report.
Earnings released in the past week showed corporate health remained strong amid continued resilience in the U.S. economy.
Wall Street will be closely watching next week’s batch of earnings, with tech giants including Microsoft Corporation (NASDAQ:MSFT), Meta Platforms Inc (NASDAQ:META), and Tesla Inc (NASDAQ:TSLA) set to report.
Focus will be squarely on whether Wall Street’s so-called “AI hyperscalers” continued their outsized spending on data center infrastructure, and whether their artificial intelligence investments yielded major returns.
The Federal Reserve is also set to meet next week, with markets broadly expecting the central bank to leave interest rates unchanged despite increasing pressure from the White House to cut.
