Source: Sharecast
As of 1220 BST, Dow Jones futures were up 0.52%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.39% and 0.18% firmer, respectively.
The Dow closed 179.37 points higher on Tuesday as traders digested another batch of quarterly earnings reports from some of the country's biggest companies.
Trump said late on Tuesday that the White House had reached a "massive Deal" with Japan, with the agreement including his so-called "reciprocal" tariffs of 15% on exports from Japan to the US. He also claimed that his administration was meeting with European officials in an effort to come to an agreement with the European Union.
Rostro's Joshua Mahony said: "Global markets are taking on an optimistic tone following the announcement of US trade deals with both Japan and the Philippines, easing concerns associated with the looming 1 August deadline. Many deals remain, but traders will feel emboldened by the implications of striking a deal with the US' fourth-largest import market."
On the macro front, US mortgage applications ticked up 0.8% in the week ended 18 July, according to the Mortgage Bankers Association, even as the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 6.84% from 6.82%. Applications to refinance a home loan fell 3% week-on-week, while applications for a mortgage to purchase a home rose 3%.
"After reaching $460,000 in March 2025, the purchase loan amount has fallen to its lowest level since January 2025 to $426,700,” said MBA economist Joel Kan. "With the 30-year fixed rate still too high to benefit many borrowers, refinance applications were down almost three percent for the week."
Still to come, June existing home sales data will be released at 1500 BST.
In the corporate space, Hasbro traded higher prior to the opening bell after posting Q2 earnings that smashed estimates and hiking its FY guidance.
Google parent company Alphabet and electric carmaker Tesla will report earnings after the close, as will Chipotle and Mattel.
Reporting by Iain Gilbert at Sharecast.com
