By Katy Barnato

A tariff respite has calmed markets.

President Trump's decision Thursday to stop short of immediately imposing new levies could allow for further negotiations with trading partners, and gives businesses some breathing space.

Futures pointed to muted moves for major indexes Friday, after the tariff news helped buoy stocks a day earlier. As of the end of Thursday's session, the S&P 500 stood 1.5% higher the week, close to an all-time record above 6118 hit in January. The Nasdaq Composite has gained more than 2%, and the Dow industrials are 0.9% higher.

Notable premarket movers Friday include Airbnb and Roku, which both surged on the back of strong earnings reports. Further results are due this morning from companies including Moderna. More economic data is also due, including reports on retail sales and industrial production.

In recent trading:

-- S&P 500 and Nasdaq-100 futures held steady. Contracts for the Dow industrials edged lower.

-- Benchmark Treasury yields crept higher. Ten-year yields had settled at 4.52% Thursday after details from the wholesale inflation report soothed investors.

-- Hong Kong stocks rallied once more, with the Hang Seng Index rising 3.7%. Chinese President Xi will meet with Alibaba co-founder Jack Ma and other business leaders, Bloomberg and Reuters reported, raising the prospect of easing tensions between Beijing and the private sector.

-- Gold prices traded near all-time highs. The precious metal is closing in on $3,000 an ounce, having set successive records.

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(END) Dow Jones Newswires

February 14, 2025 06:04 ET (11:04 GMT)

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