US stock futures edge up on hopes of more tariff exemptions

(Reuters) - U.S. banal scale futures were somewhat higher connected Tuesday, arsenic investors assessed the anticipation of tariff alleviation for the car assemblage aft President Donald Trump floated the thought of much exemptions.

Trump connected Monday suggested imaginable exemptions for the 25% tariffs imposed connected overseas imports of autos and car parts, saying helium was "looking astatine thing to assistance immoderate of the car companies."

Ford edged 0.6% higher, portion General Motors slipped 1.1% aft a brokerage downgrade.

Movements successful the pharma sector, however, kept investors cautious aft Federal Register filings showed the Trump medication was proceeding with probes into imports of pharmaceuticals and semiconductors arsenic portion of a bid to enforce tariffs connected some sectors.

Uncertainty remains precocious successful the market. Rapid changes successful U.S. argumentation person sparked steep marketplace selloffs, and near investors, companies and consumers confused implicit the outlook for argumentation and economical growth.

"Once again markets (are) faced with different US 'tariff reprieve', this clip for autos, but again this chiefly lone adds to uncertainty," said Marc Ostwald, main economist, ADM Investor Services International.

Trump connected Friday exempted cardinal electronics products from reciprocal tariffs, sparking immoderate anticipation for alleviation from hefty U.S. levies.

Corporate results volition beryllium successful absorption implicit the adjacent weeks for indications connected however companies and consumers are coping with changes successful commercialized policy.

Results from Bank of America, Citigroup and Johnson & Johnson are owed earlier the bell.

A study connected March import and export prices and the New York Federal Reserve's April manufacturing survey are owed connected Tuesday. Richmond Fed President Thomas Barkin and Fed Board Governor Lisa Cook are besides scheduled to talk aboriginal successful the day.

At 5:22 a.m. ET, Dow E-minis were up 45 points, oregon 0.11%, S&P 500 E-minis were up 12.25 points, oregon 0.23% and Nasdaq 100 E-minis were up 66.25 points, oregon 0.35%.

The main indexes gained crushed connected Monday, but trading was choppy, and astir analysts expect markets to stay volatile barring much clarity connected policy.

Global investors person slashed their U.S. equity holdings implicit the past 2 months, and a grounds fig of managers accidental they program to support cutting their exposure, BofA Global Research said.

The S&P 500 is down 8.1% this year, portion the Dow Jones has mislaid astir 4.8% and the tech-heavy Nasdaq Composite has slumped astir 13%.

Among different stocks, Boeing mislaid 2.8% aft a study said China has ordered airlines not to instrumentality immoderate further deliveries of the company's jets.

(Reporting by Lisa Mattackal successful Bengaluru; Editing by Shinjini Ganguli)