T he U.S. and Japan have reached a trade agreement under which the longtime U.S. will face a 15% tariff—down from a previously threatened 25%—President Donald Trump announced on Tuesday, as Japan’s Prime Minister hailed the move as a “new golden era” in the relationship between the two countries.

U.S. stock futures are higher after a rally on trade deals, but some megacap tech companies are due to report quarterly results and could swing sentiment.

U.S. stock index futures rose on Wednesday after President Donald Trump clinched a trade deal with Japan, fueling hopes for a wave of new agreements ahead of the fast-approaching August 1 deadline. The pact will slash tariffs on Japanese autos from 27.