Stocks Edge Higher as Trump Extends Tariff Deadline, Investors Await Fed Minutes

U.S. equities opened higher on Wednesday after President Donald Trump postponed the deadline for sweeping new tariffs, easing immediate fears of an escalation in trade tensions. Futures had pointed to modest gains overnight and momentum carried into the cash session as investors weighed the latest signals from Washington. Shortly after the opening bell, the S&P 500 advanced about 0.4% to trade near 6,250, while the Dow Jones Industrial Average added roughly 191 points to 44,432. The tech-heavy Nasdaq Composite climbed 0.6% to around 20,530. The benchmarks are building on record closes set late last month, when the S&P 500 finished at a new peak of 6,173.07. The White House late Tuesday shifted the deadline for broad retaliatory levies to Aug. 1, giving negotiators more time to reach agreements with key partners. Trump also said the United States will impose a 50% tariff on copper imports and is considering levies of as much as 200% on certain pharmaceutical products, with at least seven additional trade measures to be detailed later today. Market participants generally viewed the moves as negotiating tactics rather than imminent policy changes. Attention now turns to the Federal Reserve, which will publish minutes from its June meeting this afternoon. Investors will scrutinize the document for insight into how policymakers are assessing the inflationary impact of tariffs and the timing of any future rate moves. Ahead of the release, the yield on the 10-year Treasury note eased about two basis points to 4.40%, while copper prices touched record highs on expectations of tighter supply under the proposed duties.