US Stock Futures Subdued as Investors Await Data, Corporate Earnings, and Trump Remarks
U.S. stock index futures traded sideways on Thursday, with investors pausing after the previous session's strong performance.
Key Metrics:
* Dow E-minis: +0.03%
* S&P 500 E-minis: -0.17%
* Nasdaq 100 E-minis: -0.47%
Market Drivers:
* Investors awaiting economic data, corporate earnings, and President Trump's remarks at the World Economic Forum in Davos.
* Concerns over Trump's trade plans remain.
* Pullback in tech stocks, led by Nvidia (-1.8%) and Microsoft (-0.7%).
Economic Data:
* Labor Department report expected to show jobless claims at 220,000.
* California wildfires may impact results.
Earnings:
* GE Aerospace, American Airlines, and Union Pacific due to report before market open.
* Micron (-3.5%) lowered demand forecast for memory chips.
* Electronic Arts (-13.7%) cut annual bookings forecast due to soccer franchise weakness.
Trump's Remarks:
* Speech at Davos at 11:00 a.m. ET.
* Potential focus on international tax codes and tariffs.
Interest Rates:
* Traders expect Fed to maintain low rates through 2025.
Other:
* Alaska Air (+3.8%) topped profit estimates and forecast smaller-than-expected loss.