US stock futures are showing renewed optimism after a tumultuous week marked by sharp selloffs and heightened market uncertainty. Following last Friday’s steep declines—the Dow dropped 2.9%, the S&P 500 fell 2.4%, and the Nasdaq slipped 2.2%—investors are closely monitoring the impact of sweeping new tariffs and weaker-than-expected jobs data.

Last week’s downturn was driven largely by the Trump administration’s imposition of reciprocal tariffs ranging from 10% to 41% on dozens of trading partners. The policy shift sparked concerns about potential disruptions to global trade and its ripple effects throughout the economy. Investor sentiment was further dampened by the July jobs report, which showed payrolls rising by just 73,000 and included downward revisions for previous months. This pointed to underlying weakness in the labor market and added fresh uncertainty regarding the Federal Reserve’s next move on interest rates.

Over the weekend, futures trading reflected a more upbeat tone. The Dow Jones Industrial Average futures edged up about 0.3%, with S&P 500 and Nasdaq 100 futures rising around 0.4%. These gains followed news that President Trump intends to nominate a new Federal Reserve governor and a new head for the Bureau of Labor Statistics. Market participants are watching these appointment decisions closely, as they could influence the administration’s broader economic strategy.

Despite last week’s challenges, the broader market has shown resilience in recent months. As of August 4, the main US stock market index—the US500—had rebounded 0.39% from the prior session and maintains a year-over-year gain of over 20%. With August historically being a volatile month for stocks and further policy decisions on the horizon, investors remain vigilant about the next steps for both Washington and Wall Street.