US equity indexes rose amid a move higher in government bond yields and gold ahead of the Trump administration's tariff announcements this afternoon.

The Nasdaq Composite rose 1.5% to 17,707.4, the S&P 500 climbed 1.1% to 5,694.9, and the Dow Jones Industrial Average traded 0.9% higher at 42,363.5. All sectors except energy and consumer staples rose intraday, with consumer discretionary and technology leading the pack.

President Donald Trump will unveil import tariffs on the US' global trading partners at 4 pm ET in the White House. In a Truth Social post, the president urged Mitch McConnell and three other Republican senators to defeat a bill designed to undo import levies on Canada.

"Mitch McConnell of Kentucky, Susan Collins of Maine, Lisa Murkowski of Alaska, and Rand Paul, also of Kentucky, will hopefully get on the Republican bandwagon, for a change, and fight the Democrats wild and flagrant push to not penalize Canada for the sale, into our Country, of large amounts of Fentanyl...." Trump wrote in the Truth Social message.

"The center of the universe today will be the White House Rose Garden where we will finally hear about reciprocal tariffs," Deutsche Bank Research said, noting that the measures will come into effect immediately. Citing reports, a Stifel research note said multiple proposals are still "under consideration," including a tiered tariff system and a customized reciprocal plan.

Gold futures rose 0.98% to $3,171.80 per ounce after hitting a fresh record high of $3,177.70 intraday. Silver futures jumped 1.3% to $34.76 per ounce, trading close to its highest in about 12 years.

The ICE US Dollar Index declined 0.4% to 103.86, trading close to its lowest since October.

Most US Treasury yields rose intraday, with the 10-year yield up 6.1 basis points to 4.22% and the two-year rate 6.7 basis points higher at 3.93%.

In economic news, ADP's monthly measure of private payrolls showed a 155,000 increase in March, above expectations for a 120,000 increase in a Bloomberg-compiled survey. The March gain followed an upwardly revised 84,000 jobs increase in February.

New orders for US factory goods rose by 0.6% in February, above expectations for a 0.5% increase in a survey compiled by Bloomberg and following a 1.8% increase in January. Excluding a 1.5% gain in transportation orders, new orders would have been up 0.4% after a 0.3% gain in January, as expected.

In company news, Domino's Pizza (DPZ) said it has joined DoorDash's (DASH) Marketplace platform under a new partnership with the company. Shares of DoorDash jumped 5.2% intraday, among the top performers on the Nasdaq.

West Texas Intermediate crude oil futures increased 0.7% to $71.69 a barrel.

US commercial crude oil stocks, excluding inventories in the Strategic Petroleum Reserve, increased by 6.2 million barrels in the week that ended March 28, following a 3.3-million-barrel decline in the previous week. The print compared with a 500,000-barrel decrease expected in a survey compiled by Bloomberg.