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Stocks Hold Firm as Trump Doubles Metal Tariffs and Awaits Xi Trade Call

Traders are treading cautiously ahead of Friday’s payrolls release that could reveal how firms weather higher duties.

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Overview

  • U.S. stock futures are little changed as investors seek fresh trade signals and the key monthly jobs report.
  • President Trump raised steel and aluminum duties to 50%, exempting the U.K., and said he expects a call with Chinese leader Xi Jinping this week.
  • Market confidence has been underpinned by strong corporate results and resilient tech stocks despite escalating trade tensions.
  • CrowdStrike cut its current-quarter revenue outlook below analyst estimates while Hewlett Packard Enterprise beat forecasts and Dollar Tree warned higher tariffs could dent profits.
  • NVIDIA surged nearly 3% to reclaim its position as the world’s most valuable company at a $3.45 trillion market cap even as the U.S.-China truce strains over chips, rare earths and Taiwan.