US pre-open: Wall Street looks set to gain with Ukraine and trade tariffs in focus

(Sharecast News) - Stocks in the US look poised for a solid start to the last full trading week of March. Buoying investor sentiment were news that the US administration's 'Liberation Day' trade tariffs might be more targeted than initially feared and a handful of positive headlines out of the Ukraine ceasefire talks being held in Saudi Arabia.

As of 1105 GMT, Dow Jones mini futures were climbing 371 points to 42,690.0, alongside a 62.25 point jump for the S&P 500 mini contract and a 256 point rise for the Nasdaq-100 mini.

According to reports, the White House would now centre on so-called reciprocal tariffs against a group of countries that account for the lion's share of foreign trade with the US, but probably avoid also imposing industry-specific levies.

Meanwhile, overnight, Ukrainian defence minister, Rustem Umerov, described negotiations with US officials on Sunday as "productive and focused".

American negotiators were set to meet with their Russian counterparts in Riyadh, Saudi Arabia, on Monday, with a naval ceasefire in the Black Sea thought to be in focus.

On the economic agenda for Monday, at 1345 GMT S&P Global was scheduled to release its services and manufacturing purchasing managers' surveys for the US.

They would be followed later during the same session by US Treasury auctions of three and six-month bills.