U.S. stock futures were up on Tuesday after the major averages climbed on rising hopes that President Donald Trump will curtail his initial plans for broad-ranging tariffs. Investors also awaited consumer confidence figures that could sway the market later in the session.

Market Snapshot

Futures tied to the S&P 500 were up 0.3%, while Nasdaq-100 futures were up 0.2%. Dow Jones Industrial Average futures added just 69 points. Faraday Future Intelligent Electric Inc. rose 10%.

Pre-Market Movers

Tesla Motors was up 2% in premarket trading even as the electric-vehicle maker’s sales in Europe fell 47% in February, a second-straight month of sharp declines. The stock closed 12% higher on Monday, the best session for the stock since the near-15% gain on Nov. 6, the day after the U.S. presidential election. Boosting the stock Monday was a meeting CEO Elon Musk held with employees last week at which he told employees not to sell their shares, emphasizing Tesla’s gains in self-driving technology and robotics.

Trump Media & Technology rose 9% after the company, the parent of President Donald Trump's Truth Social platform, signed an agreement with Crypto.com to launch a series of exchange-traded funds. The ETFs will be made up of digital assets as well as securities "with a Made in America focus spanning diverse industries such as energy," Trump Media said in a statement. Plans call for the funds to launch later this year.

KB Home declined 6% after the home builder reported fiscal first-quarter earnings that missed analysts' estimates as revenue of $1.39 billion dropped 5.2% from a year earlier and also was shy of forecasts. The company said because of fewer orders in the quarter it now expects fiscal-year housing revenue of $6.6 billion to $7 billion, down from a prior projection of $7 billion to $7.5 billion. CEO Jeffrey Mezger said homebuyers "are working through affordability concerns and uncertainties related to macroeconomic and geopolitical issues."

Shares of Oklo Inc. were falling 6% after the nuclear energy start-up posted a wider annual loss and noted that "significant" financial losses were expected into the near future. "We are an early--stage company with a history of financial losses, and we expect to incur significant expenses and continuing financial losses," the company wrote in a filing with the Securities and Exchange Commission. Oklo closed with a gain of 14% on Monday ahead of the report.

Cloudflare, Inc. shares popped 7% on the back of Bank of America’s double upgrade to buy from underperform. BofA said the network security stock has improving fundamentals and catalysts that can help growth accelerate.

Carvana Co. rose 7% after Morgan Stanley's Adam Jonas upgraded shares of the online used-car platform to Overweight from Equal Weight and raised the price target o $280 from $260, the Fly reported.

U.S.-listed shares of Pony AI Inc up 1% after the Chinese self-driving start-up posted a fourth-quarter loss of $181.1 million, wider than a year-earlier loss of $20.7 million. Fourth-quarter revenue fell 30% to $35.5 million, and robotaxi services revenue declined 62% to $2.6 million on reduced service fees.

GameStop was up 1% in premarket trading ahead of the videogame retailer's fiscal fourth-quarter earnings scheduled for after the close of trading Tuesday. Coming into Tuesday, the original meme stock has fallen 18% this year but has gained 68% over the past year.

Market News

Donald Trump Considers Two-Step Tariff Regime on April 2

Donald Trump is considering a two-step approach to his new tariff regime, deploying rarely used powers to impose emergency duties while probes into trading partners are completed.

The proposals the administration’s officials are debating would seek to ground the president’s “reciprocal” tariff regime in a more robust legal framework while enabling Trump to raise money for planned tax cuts, said people familiar with the discussions.

Trump has pledged to unveil his new tariffs on April 2, dubbing the event “liberation day”, and prompting a race by foreign countries to lobby his administration’s top officials for exemptions.

Apple Joins AI Data Center Race After Siri Mess

While other Big Tech firms invested heavily in artificial intelligence data centers, Apple stayed on the sidelines, choosing to avoid the capex spending surge. But that appears to have changed with Apple realizing it needed to join the AI data center game.

Loop Capital analyst Ananda Baruah late Monday said Apple is in the process of placing orders for about $1 billion in NVIDIA GB300 NVL72 systems. That equates to about 250 servers at $3.7 million to $4 million each, he said in a client note.