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Futures: Dow up 0.08%, S&P 500 up 0.01%, Nasdaq down 0.05%
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Dollar Tree ( DLTR ) up on sale of Family Dollar business
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GameStop ( GME ) climbs on bitcoin bet, higher Q4 profit
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February durable goods data awaited
(Updates with analyst quote, Dollar Tree ( DLTR ) results)
By Pranav Kashyap and Johann M Cherian
March 26 (Reuters) - U.S. stock futures struggled for
direction 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.
Wall Street got a temporary moment of relief, 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.
"Market is in a wait and watch mode for tariff
announcements. If tariffs are not as bad as feared, it could
serve as a clearing event and be positive for risky assets,"
Jefferies' economist Mohit Kumar said in a note.
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.
The economic uncertainty is also likely to take a toll on
the labor market, with analysts highlighting that investment
banks are poised to cut more jobs on deteriorating prospects of
new deals in the months ahead.
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
more than 4% since its mid-March lows, while the Nasdaq has
risen about 6%.
At 7:33 a.m. ET, Dow E-minis were up 34 points, or
0.08%, S&P 500 E-minis were up 0.5 points, or 0.01% and
Nasdaq 100 E-minis were down 11 points, or 0.05%.
Investors will assess a monthly report on durable goods
before markets open, but the main focus of this week will be 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 report.
Among notable stock moves, Dollar Tree ( DLTR ) rose 4.1% in
premarket trading after the discount-retail chain said it is
nearing a sale of its Family Dollar business to a consortium of
private equity investors for about $1 billion.
Excluding the Family Dollar banner, the company reported
quarterly net sales marginally higher than the previous year's
figure.
GameStop ( GME ) jumped 16.8% following its board's
unanimous approval to incorporate bitcoin as a treasury reserve
asset and its announcement of fourth-quarter results.