Trading on Wall Street was mixed early Wednesday ahead of key U.S. economic data being released later in the week, as well as developments in President Donald Trump’s trade agenda.
Futures for the S&P 500 were flat before the bell, while futures for the Dow Jones Industrial Average ticked up 0.1%. Nasdaq futures fell 0.1%.
Shares of Dollar Tree jumped 5% after the discount retailer announced the sale its Family Dollar business to a pair of private equity firms for $1 billion. Dollar Tree, which acquired Family Dollar for more than $8 billion in 2015, struggled to make the business fit.
The company had been scouting options for Family Dollar for a while and said that the sale to Brigade Capital Management and Macellum Capital Management will allow it to focus on its core business.
Online pet store Chewy rose 5.1% after it beat Wall Street's fourth quarter sales and profit targets and issued strong 2025 sales guidance based on momentum that executives expect to carry over into this year.
U.S. stocks have recovered a chunk of their losses since falling 10% below their all-time high earlier this month, the first market correction since 2023. The S&P 500 is down 6% from its record, meaning many stocks appear less expensive, which had been a major criticism following what many saw as a euphoric and unwarranted rise in markets.
But Wall Street analysts warn that more sharp swings are likely ahead of next week's tariff deadline. That’s what Trump has called “Liberation Day,” when he will begin tariffs on trading partners that he says will roughly equal what he sees as the burden each of them puts on the United States.
Trump's on-again-off-again tariff threats have already soured confidence among U.S. households and businesses. The fear is that both could dial back spending and slow economic growth.
Like other recent surveys, Tuesday's consumer confidence data showed U.S. households are much more concerned about where the economy is heading than where it is currently. So far, actual economic activity and the job market seem to be holding up despite the worsening moods of consumers and U.S. companies, particularly retailers.
More potentially market-moving data will be released later this week, with the government's final fourth-quarter GDP estimate and weekly unemployment benefits report coming Thursday and February consumer spending figures due Friday. The consumer spending report also contains an inflation measure closely watched by the Federal Reserve.
In Europe at midday, Germany's DAX lost 0.6%, as did the CAC 40 in Paris. Britain's FTSE 100 edged 0.2% higher.
In Asian trading, Hong Kong's Hang Seng rose 0.6% to 23,483.32, while the Shanghai Composite index slipped less than 0.1%, to 3,368.70.
Tokyo's Nikkei 225 index added 0.7% to 38,027.29.
The Kospi in Seoul was up 1.1% at 2,643.94. In Australia, the S&P/ASX 200 gained 0.7% to 7,999.00.
Later this week, the U.S. is due to report on economic growth, personal spending, inflation and other key data.