U.S. stock futures steady after gains, awaiting data

U.S. stock futures remained steady on Monday night following a positive day for the market. Investors showed optimism that President Donald Trump might adopt a more moderate approach to tariffs. On Monday, the Dow Jones Industrial Average rose by nearly 600 points, or 1.42%, while the broader market gained almost 1.8% and the tech-heavy Nasdaq climbed 2.3%. Pressure remains on Wall Street as concerns about rising inflation and slowing economic growth linger. This comes as traders await potential tariffs scheduled to be announced on April 2. Reports indicated that the White House might limit the scope of these tariffs, which boosted trader sentiment. However, Trump later confirmed that tariffs on certain sectors like pharmaceuticals and automobiles would still be implemented soon. Despite two consecutive days of gains for the major averages, the stock market has faced challenges in recent weeks, including a brief correction for the S&P 500 earlier this month. Financial expert Jim Elios suggested that the market might be recovering from this correction and could continue to rise, although with some fluctuations. Investors are looking forward to several economic updates on Tuesday. Key releases include consumer confidence and new home sales data, along with remarks from Federal Reserve officials. Economist Mohamed El-Erian commented that the recent market turmoil may be easing, yet inflation remains a concern. He predicted only one possible rate cut this year unless there's a recession, noting that data suggests inflation is increasing. In company news, KB Home's shares fell nearly 9% after the company reported disappointing earnings and lowered its revenue forecast for the fiscal year. Also, shares of the workwear company dropped 10% as its competitor Cintas halted discussions to acquire UniFirst. Lastly, a utility company in Ohio saw its shares dip 2% after announcing a significant investment plan.