US futures rise, shrugging off Trump’s chip levies
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US stock futures climbed in early trading Thursday, largely looking past President Donald Trump’s threat of a 100% tariff on chip imports. Contracts for the S&P 500 and Nasdaq 100 rose 0.2% in early Asian trading, erasing brief losses. Trump said he would impose a 100% levy on imports of semiconductors, but will provide exemption for companies moving production back to the US. Shares in Nvidia Corp. and Apple Inc. rose in after-hours trading while those for Broadcom Inc fell. The dollar weakened and equity-index futures pointed to declines in Asia. The latest tariff salvo injected fresh volatility into an otherwise bullish day on Wall Street that lifted US stocks and short-dated Treasuries, in part on firming expectations for a Federal Reserve rate cut next month. “While trade uncertainty and elevated valuations could be a modest headwind for equities in the near term, investors can consider ways to manage volatility while positioning...