Several tailwinds have caused the Dow Jones futures to trade slightly higher.
Apple Inc. promises to increase local manufacturing by investing $100 billion.
US President Trump declared that chip imports would be subject to 100% tariffs.
Thursday's European trading session saw a little increase in Dow Jones futures prices. As notable advances in technology businesses have outpaced declines in other areas, U.S. stocks are gaining ground.
As of this writing, S&P 500 futures are up 0.3% to close to 6,360, while Dow Jones futures are up 0.1% above 44,200.
Following US President Donald Trump's confirmation that smartphone manufacturer Apple Inc. will invest $100 billion to expedite domestic manufacturing facilities, the NASDAQ jumped 1.2% above 21,150 on Wednesday. "Businesses such as Apple are returning home." According to Reuters, Trump told reporters, "They are all coming home." "It is a big step toward the ultimate goal of making sure that iPhones sold in America are likewise built in America," he continued.
Concerns over the hike in 100% tariffs on semiconductor imports into the US have subsided because Apple Inc. said that it would be increasing the production of iPhones domestically. US President Trump declared on Wednesday that the extra charge on semiconductor chip imports would be raised to 100%. Apple will not be subject to sectoral tariffs for its domestic smartphone manufacture.
Major South Korean chipmakers Samsung Electronics and SK Hynix, however, are exempt from the 100% semiconductor tariffs since Seoul and Washington negotiated an agreement last month.
US stocks have also been bolstered by strong market expectations that the Federal Reserve (Fed) will lower interest rates at its September meeting. The Fed is almost certain to lower borrowing rates by 25 basis points (bps), to 4.00%-4.25%, according to the CME FedWatch tool.
Fed officials, including Fed Governor Lisa Cook, San Francisco Fed President Mary Daly, and Minneapolis Fed President Neel Kashkari, made the case for lowering interest rates on Wednesday in light of mounting labor market concerns.
Apple Inc. promises to increase local manufacturing by investing $100 billion.
US President Trump declared that chip imports would be subject to 100% tariffs.
Thursday's European trading session saw a little increase in Dow Jones futures prices. As notable advances in technology businesses have outpaced declines in other areas, U.S. stocks are gaining ground.
As of this writing, S&P 500 futures are up 0.3% to close to 6,360, while Dow Jones futures are up 0.1% above 44,200.
Following US President Donald Trump's confirmation that smartphone manufacturer Apple Inc. will invest $100 billion to expedite domestic manufacturing facilities, the NASDAQ jumped 1.2% above 21,150 on Wednesday. "Businesses such as Apple are returning home." According to Reuters, Trump told reporters, "They are all coming home." "It is a big step toward the ultimate goal of making sure that iPhones sold in America are likewise built in America," he continued.
Concerns over the hike in 100% tariffs on semiconductor imports into the US have subsided because Apple Inc. said that it would be increasing the production of iPhones domestically. US President Trump declared on Wednesday that the extra charge on semiconductor chip imports would be raised to 100%. Apple will not be subject to sectoral tariffs for its domestic smartphone manufacture.
Major South Korean chipmakers Samsung Electronics and SK Hynix, however, are exempt from the 100% semiconductor tariffs since Seoul and Washington negotiated an agreement last month.
US stocks have also been bolstered by strong market expectations that the Federal Reserve (Fed) will lower interest rates at its September meeting. The Fed is almost certain to lower borrowing rates by 25 basis points (bps), to 4.00%-4.25%, according to the CME FedWatch tool.
Fed officials, including Fed Governor Lisa Cook, San Francisco Fed President Mary Daly, and Minneapolis Fed President Neel Kashkari, made the case for lowering interest rates on Wednesday in light of mounting labor market concerns.
