US equity markets won’t open today due to the MLK holiday but indications are good for tomorrow with S&P 500 futures up 29 points.
Futures were lower before the report saying that Trump won’t impose tariffs today but instead will issue a memo to study trade practices.
If anything, I suspect this 0.5% move is much too small for the news. That said, it only takes a quick denial from Trump to reverse this, which is what the market is worried about.
Spoos 5 mins