Stocks Pull Back After Trump Rally; Asian Markets Advance

Markets

* European stocks witnessed minimal movement after reaching near record highs on Wednesday.
* Technology stocks declined over 1%, reversing most of the previous day's gains.
* US equity futures retreated as the S&P 500 approached record levels.
* Asian stocks rose, supported by Chinese government assurances and gains in mainland Chinese shares.
* Gold maintained its elevated position near October's high.

Key Points

* Investors remain cautious amid mixed signals from President Trump's administration.
* Tariffs on major trading partners pose risks to sentiment.
* Tech stocks benefited from Trump's support for artificial intelligence investment.
* Yield on 10-year Treasuries remained stable at 4.60%.
* US dollar index was steady.
* Bank of Japan expected to raise interest rates on Friday, continuing normalization efforts.

Notable Events

* US jobless claims data
* Trump's address at World Economic Forum in Davos
* Fourth-quarter earnings reports from General Electric Co., American Airlines Group Inc., and Texas Instruments Inc.

Major Market Movements

* Stoxx Europe 600: No significant change
* S&P 500 futures: -0.2%
* Nasdaq 100 futures: -0.4%
* Dow Jones Industrial Average futures: No significant change
* MSCI Asia Pacific Index: Minimal change
* MSCI Emerging Markets Index: Minimal change

Currencies

* Bloomberg Dollar Spot Index: Stable
* Euro: $1.0399
* Japanese yen: 156.49 per dollar
* Offshore yuan: 7.2933 per dollar
* British pound: $1.2303

Commodities

* Brent crude: Minor fluctuations
* Spot gold: Near October's high