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Updates after corporate earnings

By Lisa Pauline Mattackal and Purvi Agarwal

April 15 (Reuters) - U.S. stock index futures were subdued on Tuesday, as investors tried to gauge the possibility of a tariff relief for the auto sector after President Donald Trump hinted at more exemptions.

Trump on Monday suggested potential exemptions for the 25% tariffs imposed on foreign imports of autos and auto parts, saying he was "looking at something to help some of the car companies."

Ford F.N was flat in premarket trading, while General Motors GM.N slipped marginally after a brokerage downgrade.

Overall, investors exercised caution after Federal Register filings showed the Trump administration was proceeding with probes into imports of pharmaceuticals and semiconductors as part of a bid to impose tariffs on both sectors.

"Once again markets (are) faced with another US 'tariff reprieve', this time for autos, but again this primarily only adds to uncertainty," said Marc Ostwald, chief economist, ADM Investor Services International.

Rapid changes in U.S. policy have sparked steep market selloffs, and left investors, companies and consumers confused over the outlook for policy and economic growth.

Corporate results will be in focus over the next weeks for indications on how companies and consumers are coping with changes in trade policy.

Johnson & Johnson's JNJ.N shares rose marginally after the company beat Wall Street estimates for first-quarter revenue and profit.

Bank of America BAC.N advanced 2% after reporting a higher profit in the first quarter, while Citigroup C.N is expected to report before the bell.

A report on March import and export prices and the New York Federal Reserve's April manufacturing survey are due on Tuesday. Richmond Fed President Thomas Barkin and Fed Board Governor Lisa Cook are also scheduled to speak later in the day.

At 06:56 a.m., Dow E-minis 1YMcv1 were up 7 points, or 0.02%, S&P 500 E-minis EScv1 were up 5.25 points, or 0.1% while Nasdaq 100 E-minis NQcv1 were up 37.5 points, or 0.2%.

The main indexes had gained ground on Monday after Trump exempted key electronics products from reciprocal tariffs. But trading was choppy, as a rally in technology stocks eventually fizzled out. Most analysts expect markets to remain volatile barring more clarity on U.S. tariff policy.

The S&P 500's 50-day moving average $(DMA)$ slipped below the 200-DMA on Monday, producing a "death cross" pattern that suggests a short-term correction could turn into a longer-term downtrend.

A death cross pattern occurred for the Nasdaq Composite on Wednesday.

Global investors have slashed their U.S. equity holdings over the past two months, and a record number of managers plan to keep cutting their exposure, BofA Global Research said.

The S&P 500 .SPX is down 8.1% this year, while the Dow Jones .DJI has lost about 4.8% and the tech-heavy Nasdaq Composite .IXIC has slumped nearly 13%.

Among other stocks, Boeing BA.N lost 3.6% after a report said China has ordered airlines in the country to not take any further deliveries of the company's jets.

(Reporting by Lisa Mattackal and Purvi Agarwal in Bengaluru; Editing by Shinjini Ganguli)

((LisaPauline.Mattackal@thomsonreuters.com;))