US stock futures saw an uptick as investors awaited President Trump's upcoming announcement about new tariffs that could significantly impact global trade.

Futures tied to the Dow Jones Industrial Average and S&P 500 both increased by 0.2%, while Nasdaq Composite futures surged by 0.3%.

Investors have been cautiously optimistic this week leading up to the tariff news scheduled to be revealed by Trump in the Rose Garden at 4 p.m. ET on Wednesday. The specifics of the new tariffs remain unknown, creating uncertainty in the markets. Market reactions have been volatile in response to the president's varying remarks on trade policies.

Some traders are hopeful that the announcement will bring an end to the prevailing market uncertainty, while others fear that it could further escalate tensions with other countries if they respond with retaliatory tariffs.

Speculations suggest that Trump is considering imposing a 20% universal tariff on all countries. The White House has stated that the new tariffs will be implemented immediately upon announcement.

The anticipation surrounding the tariff announcement has been a source of concern for Wall Street, aggravated by recent economic indicators indicating slowing growth, persistent inflation, and decreasing consumer confidence.

Once the impact of the new tariffs settles later in the week, attention will shift to the release of the March jobs report on Friday to provide additional insights into the current state of the US economy and its future trajectory.