U.S. stock index futures are pointing to the next opening after reports that President Donald Trump will narrow the scope of tariffs he plans to impose on April 2.

Trump had planned to enact widespread reciprocal tariffs against longtime trading partners, but now, those tariffs will likely be narrower than originally threatened, reports said. That likely comes as a relief to investors and economists who feared an all-out trade war.

Still, officials in China and Australia warned U.S. trade policy could cause shocks to the worldwide economy.

Futures tied to the blue-chip Dow added 0.72%; the broad S&P 500 futures gained 0.94%; and the tech-heavy Nasdaq 100 futures rose 1.14%.

On Sunday, Strategy co-founder Michael Saylor posted on X a bitcoin chart suggesting he could also be contemplating buying more bictoin.

Medora Lee is a money, markets, and private finance reporter at USA TODAY. You may reach her at mjlee@usatoday.com and subscribe to our free Every day Money newsletter for private finance suggestions and business news every Monday through Friday.

This text originally appeared on USA TODAY: US stock futures higher after reports that Trump will narrow tariffs