Updates before markets open

By Pranav Kashyap and Johann M Cherian

March 26 (Reuters) - Wall Street's main indexes were poised for a restrained open on Wednesday, with investors exercising caution as they awaited economic data and more clarity on the Trump administration's fresh tariffs that are expected to take effect next week.

U.S. equities experienced a brief reprieve over the last two sessions, following President Donald Trump'sindication that not all tariffs would be enforced by the April 2 deadline, with certain nations potentially being granted exemptions—though specifics remain elusive.

This offered a semblance of stability to Wall Street, with the trio of major indexes closing on Tuesday at their highest in over two weeks.

Nevertheless, ambiguity surrounding the magnitude of U.S. tariffs, the likelihood of retaliatory measures from trading partners, and apprehensions regarding the potential repercussions on the global economy and businesses have left investors in a state of heightened vigilance.

"Market is in a wait and watch mode for tariff announcements. If tariffs are not as bad as feared, it could serve as a clearing event and be positive for risky assets," Jefferies' economist Mohit Kumar said in a note.

Tuesday's data revealed a sharp decline in U.S. consumer confidence in March - its lowest in over four years - highlighting the prevailing uncertainty surrounding tariffs and its impact on American households.

The economic instability is projected to also impact the labor market, with analysts emphasizing that investment banks are bracing for further job cuts amid waning prospects for new deals in the coming months.

In recent weeks, investors have been divesting U.S. equities in favor of alternative opportunities, wary that Trump's tariffs could ignite inflationary pressures and hamper economic expansion.

Both the benchmark S&P 500 .SPX and the tech-centric Nasdaq .IXIC tumbled 10% from their respective record highs earlier this month—a phenomenon known as a correction. The S&P has ascended over 4% since its mid-March lows, while the Nasdaq has advanced roughly 6%.

Adding to the unease, Barclays revised its S&P 500 target downward to 5,900 points from 6,600 due to uncertainty surrounding Trump's tariffs.

At 8:48 a.m. ET, U.S. S&P 500 E-minis EScv1 were up 3.5 points, or 0.06%, with 121,169 contracts changing hands. Nasdaq 100 E-minis NQcv1 were down 14.75 points, or 0.07%, while Dow E-minis 1YMcv1 were up 81 points, or 0.19%.

The main focus of this week will be the personal consumption expenditures price index - the Federal Reserve's favored inflation gauge - due on Friday.

Chicago Fed President Austan Goolsbee said that it may take longer than anticipated for the next cut because of economic uncertainty, according to a report.

Speeches from Federal Reserve Bank presidents of Minneapolis and St. Louis, Neel Kashkari and Alberto Musalem, are anticipated later in the day.

Among notable stock moves, Dollar Tree DLTR.O rose 2.4% in premarket trading after the discount-retail chain said it is nearing a sale of its Family Dollar business to a consortium of private equity investors for about $1 billion.

Excluding the Family Dollar banner, the company reported quarterly net sales marginally higher than the previous year's figure.

GameStop GME.N jumped 12.2% following its board's unanimous approval to incorporate bitcoin as a treasury reserve asset and its announcement of fourth-quarter results.

U.S.-listed shares of miners such as Southern Copper <SCCO.N> rose 1.1% and Freeport-McMoran <FCX.N> added 1.7%, tracking higher copper prices on expectations that Trump may impose tariffs on the red metal.

(Reporting by Pranav Kashyap and Johann M Cherian in Bangalore; Editing by Maju Samuel)

((pranav.kashyap@thomsonreuters.com))