US pre-open: Futures higher as Trump calls off new European tariffs
By Iain Gilbert
Date: Thursday 22 Jan 2026
(Sharecast News) - Wall Street futures were in the green ahead of the bell on Thursday after Donald Trump dialled back his rhetoric surrounding Greenland and said he would no longer impose new tariffs on European nations.
As of 1230 GMT, Dow Jones futures were up 0.26%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.52% and 0.83% firmer, respectively.
The Dow closed 588.64 points higher on Wedneday, reclaiming much of the prior session's heavy losses.
Futures were higher prior to the open on Thursday after Trump said he would no longer proceed with new tariffs on European nations that had been scheduled to take effect on 1 February, adding that a "framework" for a deal over Greenland had been reached.
Trump, who has ramped up his push for US control of Greenland in recent weeks, said that he and NATO secretary general Mark Rutte had "formed the framework of a future deal with respect to Greenland". He later said "we have a concept of a deal" regarding the Arctic territory. Stocks had already moved higher earlier in the session after Trump told the World Economic Forum in Davos that he had already ruled out acquiring Greenland by force.
On the macro front, weekly jobless claims numbers from the Labor Department will be out at 1330 GMT, as will third quarter gross domestic product figures, while the Fed's preferred inflation gauge, the personal consumption expenditures price index, will follow at 1500 GMT, and the Kansas Fed's January manufacturing activity index be released at 1600 GMT.
In terms of earnings, consumer goods giant Procter & Gamble Q2 reveunes fell just short of quarterly expectations on Thursday, held back by weak consumer spending in core categories, which overshadowed a strong performance in its beauty products division, while aircraft engine supplier GE Aerospace posted its fourth quarter results on Thursday, topping market expectations on both the top and bottom lines, with Q4 adjusted earnings per share of $1.57 and revenues of $11.87bn - exceeding analyst estimates of $1.43 and $11.2bn, respectively.
Still to come, Intel and Capital One Financial will report earnings after the close.
Reporting by Iain Gilbert at Sharecast.com
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