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Futures off: Dow 0.14%, S&P 500 0.17%, Nasdaq 0.22%
March 26 (Reuters) - U.S. stock futures slipped on
Wednesday, with investors exercising caution as they awaited
economic data and more clarity on the Trump administration's
fresh tariffs that are expected to take effect next week.
U.S. markets got a temporary moment of relief, closing
higher in the past two sessions, after U.S. President Donald
Trump indicated that not all tariffs would be enforced by the
April 2 deadline, with some countries potentially receiving
exemptions - though details remain scant.
This provided a modicum of stability to Wall Street, with
the three main indexes closing on Tuesday at their highest level
in more than two weeks.
Still, uncertainty about the size of U.S. tariffs and the
potential for countermeasures by its trading partners as well as
concerns about its fallout on the global economy and businesses
have kept investors on edge.
Tuesday's data revealed a sharp decline in U.S. consumer
confidence in March - its lowest in over four years -
highlighting the prevailing uncertainty surrounding tariffs and
its impact on American households.
In recent weeks, investors have been offloading U.S.
equities and seeking opportunities elsewhere, concerned that
Trump's tariffs might stoke inflation and stymie economic
growth.
Both the benchmark S&P 500 and the tech-centric
Nasdaq plunged 10% from their respective record highs
earlier this month - known as a correction. The S&P has climbed
has climbed more than 4% since mid-March lows, while the Nasdaq
has risen about 6%.
At 6:08 a.m. ET, U.S. S&P 500 E-minis
were down 10 points, or 0.17%, Nasdaq 100 E-minis
were down 45.25 points, or 0.22%, Dow E-minis were
down 62 points, or 0.14%.
Amid a slew of economic indicators slated for this week,
focus will be on the personal consumption expenditures price
index - the Federal Reserve's favored inflation gauge - due on
Friday.
Chicago Fed President Austan Goolsbee said that it may take
longer than anticipated for the next cut because of economic
uncertainty, according to a Financial Times interview.
Among notable stock moves, GameStop ( GME ) jumped 12.9%
premarket following the board's unanimous approval to
incorporate bitcoin as a treasury reserve asset and its
announcement of fourth-quarter results.
Dollar Tree ( DLTR ) rose 7.1% after a report said the
discount-retail chain is nearing a sale of its Family Dollar
business to a consortium of private equity investors for about
$1 billion. The company is also due to report its results before
markets open.