US stock futures edge up on tariff relief, with earnings and data in focus

(Reuters) -U.S. banal scale futures were somewhat higher connected Tuesday arsenic the Trump medication signaled easing tariffs connected the car assemblage and investors awaited cardinal net and economical information for much direction.

President Donald Trump's medication volition determination to trim the interaction of his automotive tariffs by alleviating immoderate duties imposed connected overseas parts successful domestically manufactured cars, and keeping tariffs connected cars made overseas from piling connected apical of different ones, officials said.

Shares of automakers Ford and Tesla roseate 1.1% and 0.8%, respectively, portion General Motors gained 0.9% up of its quarterly results.

Investors are besides awaiting much clarity connected the authorities of U.S.-China commercialized negotiations, connected a engaged time for net from companies including Coca-Cola and United Parcel Service.

Consumer assurance and JOLTs occupation openings are besides scheduled for the day, portion U.S. first-quarter GDP and nonfarm payrolls are expected aboriginal successful the week.

Four of the "Magnificent Seven" radical of megacap stocks - Meta Platforms, Microsoft, Apple and Amazon.com - volition study quarterly results this week.

"It shouldn't truly beryllium particularly astonishing that participants took thing of a 'wait-and-see' attack to proceedings ... with condemnation lacking crossed the board, and markets mostly meandering on successful a comparatively directionless fashion," said Michael Brown, elder probe strategist astatine Pepperstone.

At 5:25 a.m. ET, Dow e-minis were up 96 points, oregon 0.24%, S&P 500 E-minis were up 7.25 points, oregon 0.13%, and Nasdaq 100 E-minis were up 25.25 points, oregon 0.13%.

The S&P 500 closed Monday with marginal gains, rising for a 5th consecutive league successful its champion winning streak since November. Indexes person clawed backmost immoderate losses this period connected hopes for a de-escalation successful commercialized tensions betwixt the U.S. and China.

Still, each 3 large indexes stay down for the year, with the S&P 500 connected way to autumn astir 1.5% this month.

First-quarter net for S&P 500 companies are expected to emergence 10.9% from a twelvemonth ago. That is higher than an early-April estimation for a 7.8% rise, but galore companies person warned of the caller tariffs impacting their outlook.

NXP Semiconductors NV fell 8.1% aft the institution lone somewhat bushed expectations for revenue, and announced CEO Kurt Sievers would discontinue by the extremity of the twelvemonth and insider Rafael Sotomayor would win him.

(Reporting by Lisa Mattackal successful Bengaluru; Editing by Devika Syamnath)