Trump tariffs may rise to 15% this week; U.S. stock futures give back gains from "peace talks" optimism

Golden Ten Data reported on March 4 that U.S. stock index futures gave back earlier gains in early trading on Wednesday. Previously, the Trump administration signaled that a 15% universal tariff on global imports could take effect this week, adding a new disruptive factor to a market already unsettled by the U.S.-Iran war. Currently, traders are still digesting the impact of the war on oil prices and inflation, factors that weighed on the market on Tuesday. Earlier, futures rose briefly, boosted by a report from The New York Times stating that Iranian intelligence officials had contacted the CIA to discuss terms for ending the conflict. Michael O’Rourke, Chief Market Strategist at JonesTrading, said: "Two days of buying the dip have limited the S&P 500's losses this week. The market's mechanical response to oil prices has squeezed out previous anxieties about AI and private credit." Goldman Sachs Chairman Solomon expressed surprise at the market's "mild" reaction to the situation in the Middle East. Wall Street strategists warned not to rely on the so-called "Trump put" regarding the U.S.-Iran war, as the consequences of the conflict may be difficult to control.