Dow poised to jump more than 300 points after Trump touts UK trade deal
Stock market indexes looked poised to soar early on Thursday morning amid optimism on Wall Street after the Trump administration indicated progress toward easing global trade tensions with an upcoming deal with the United Kingdom.Dow futures were up by more than 300 points as of 60 minutes before the opening bell on Thursday while technology stocks also look to be in the green for the day’s trading session.Nasdaq futures were up over 1% while the S&P 500 appeared set to continue its recent rally, having posted gains in 10 of the past 12 trading sessions.The anticipated agreement, described by President Trump as a “full and comprehensive” pact, would mark the administration’s first significant breakthrough since it imposed wide-ranging tariffs that rattled global markets.Trump is expected to provide more specifics at a press conference scheduled for 10 a.m.Eastern Time on Thursday.British officials, however, sounded more cautious — noting the deal would fall short of a full-fleded trade agreement as some critical elements remain unresolved.Investors closely watched the announcement, hopeful that a deal could set a precedent for future trade discussions and soften concerns about the prolonged economic impact of Trump’s tariff strategy.The deal with the UK could also clarify the administration’s long-term tariff plans.Currently, Britain faces a baseline tariff rate of 10%, alongside 25% tariffs specifically targeting steel and automobiles.Analysts suggest the details of this preliminary agreement will shed light on whether the White House intends to maintain or gradually dismantle these tariffs.Treasury Secretary Scott Bessent’s planned visit to China to meet with the nation’s senior economic officials further buoyed investor sentiment, suggesting potential groundwork for broader negotiations with the world’s second largest economy.Concurrently, administration officials have indicated ongoing talks with India and Japan, while President Trump pr...