07:33 AM EDT, 04/15/2025 (MT Newswires) -- US equity futures were trending higher on Tuesday as President Donald Trump hinted at a possible tariff relief for automakers, while traders await a fresh round of corporate earnings.

The S&P 500 rose 0.2%, the Dow Jones Industrial Average edged up 0.1% and the Nasdaq added 0.3% in premarket activity. The indexes closed higher on Monday, marking their second consecutive session of gains.

Trump reportedly suggested on Monday that he might consider granting tariff exemptions for certain automobile manufacturers, as they need "a little bit of time" to move production of car parts to the US from Canada, Mexico and other countries. Shares of Ford Motor ( F ) and Rivian Automotive ( RIVN ) were up pre-bell while General Motors ( GM ) and Stellantis ( STLA ) inched lower.

Last month, the US announced 25% tariffs on imported passenger vehicles and certain auto parts.

"We continue to believe the 25% auto tariffs will ultimately be focused on finished cars (versus) auto parts at the end of the day which would be a clear positive vs. the original auto parts tariffs," Wedbush said in a Tuesday note.

Trump has exempted smartphones, computers and semiconductors from his reciprocal tariffs, CNBC reported, citing Customs and Border Protection guidance issued late Friday. However, Trump said in a social media post Sunday that there are no tariff exceptions.

While inflationary headwinds from higher tariffs are likely to be temporary, their effects on employment and output could be "longer-lasting," Federal Reserve Governor Christopher Waller said Monday.

Boeing's ( BA ) stock declined 3.2% following media reports that China has ordered its airlines not to take any further deliveries from the plane maker. Netflix ( NFLX ) gained nearly 3%, while Apple ( AAPL ) nudged up 0.2%.

Johnson & Johnson ( JNJ ) , Bank of America ( BAC ) , Citigroup ( C ) and PNC Financial Services (PNC) are some of the major companies reporting their latest financial results before the bell. United Airlines (UAL), Interactive Brokers ( IBKR ) , Omnicom ( OMC ) and J.B. Hunt Transport Services (JBHT) are scheduled to post earnings after the markets close.

On Tuesday's economic calendar, the Empire State Manufacturing Index for April is out at 8:30 am ET, along with last month's import and export prices report. Richmond Fed President Thomas Barkin is slated to speak at 11:35 am, while Fed Governor Lisa Cook speaks at 7:10 pm.

US markets will be closed on Friday for the Good Friday holiday.

US Treasury yields advanced in premarket action with the two-year rate rising 3.2 basis points to 3.86%, while the 10-year rate inclined 2.4 basis points to 4.39%.

West Texas Intermediate crude oil decreased 0.6% to $61.20 a barrel before the opening bell. The Organization of the Petroleum Exporting Countries on Monday lowered its global oil demand projections for 2025 and 2026 amid macroeconomic uncertainties tied to the US government's tariffs.

Bitcoin increased 0.9% to $85,717, while gold gained 0.5% to $3,243 per troy ounce.

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