World shares and U.S. futures advanced Tuesday, led by gains in Tokyo where the Nikkei 225 shot up just over 6% as markets settled after the shocks from President Donald Trump ’s tariff hikes, according to the Associated Press. Futures for the S&P 500 gained 1.7% before the bell, while futures for the Dow Jones Industrial Average jumped 2.1% and Nasdaq futures climbed 1.5%.
Tuesday’s rebound followed a wild day on Wall Street, where stocks careened after Trump threatened to crank his double-digit tariffs higher.
Among the early gainers was Levi Strauss, which climbed more than 10% after beating analysts’ profit targets and forecasting a strong 2025, despite the ongoing trade war and tariff threats.
CVS Health climbed more than 8% after the drugstore chain named a new chief financial officer, effective later this month.
Shares of health insurers like Humana, United Health and Elevance rose sharply after the Centers for Medicare & Medicaid Services announced a 5.06% increase in Medicare payments for next year, which was stronger than expected. Humana, a company with a market capitalization of more than $30 billion, jumped nearly 15%.
Corporate earnings season kicks off this week with Delta Air Lines reporting on Wednesday and major U.S. banks offering up their latest results on Friday. The airline sector. which had been forecasting a strong 2025, has been one of the hardest hit during Trump’s tariff rollout.
The price of a barrel of benchmark U.S. crude oil dipped below $60 on Monday for the first time since 2021. Early Tuesday, it was up 18 cents at $60.88 per barrel. Brent crude, the international standard, gained 17 cents to $64.38 per barrel.
In currency trading, the U.S. dollar fell to 146.90 Japanese yen from 147.85 yen.
