US stock futures drifted up after the S&P 500 reached a fresh record in a dramatic rally just 10 minutes before market close. Trump on Tuesday said to expect new tariffs on automobiles starting as soon as April 2.

Stocks are drifting lower although still near a record high as a holiday-shortened week gets off to a sluggish start. The S&P 500 edged 0.1% lower in Tuesday afternoon trading and is just below its all-time closing high set last month.

U.S. stock index futures rose on Tuesday as investors watched for potential developments on the tariffs front as well as insights into the central bank's interest-rate plans following last week's drop in Treasury yields.

S&P 500 Futures rose slightly to 6,135.50 points, while Nasdaq 100 Futures rose 0.1% to 22,212.50 points by 19:25 ET (00:25 GMT). Dow Jones Futures steadied at 44, 646.0 points. Trading volumes were muted, with U.S. markets set to remain closed for a holiday on Monday.

Wall Street's main indexes were on track to open higher on Tuesday as investors focused on potential tariff developments and the U.S. Federal Reserve's interest-rate strategy following last week's drop in Treasury yields.