US Stocks Pull Back Ahead of Trump's Davos Speech
U.S. stock futures declined on Thursday as market sentiment cooled following recent gains amid lingering concerns over interest rate hikes and inflationary pressures.
* S&P 500 Futures (ES=F): Dipped ~0.2%
* Dow Jones Industrial Average Futures (YM=F): Traded flat
* Nasdaq 100 Futures (NQ=F): Fell ~0.5%
Tech stocks faced headwinds, with Nvidia (NVDA), Apple (AAPL), and Alphabet (GOOG, GOOGL) losing ground. Investors are awaiting President Donald Trump's speech at the World Economic Forum in Davos for insights into his trade policy.
Concerns persist over the impact of potential tariffs, particularly on trade with Canada. Amazon (AMZN) and Tesla (TSLA) saw shares decline after announcing changes in their Canadian operations.
However, earnings reports provided some solace. Netflix (NFLX) exceeded analyst expectations, while GE Aerospace (GE) reported strong results and announced share buyback and dividend increases. American Airlines (AAL) and Texas Instruments (TXN) are set to release quarterly reports on Thursday.
Initial jobless claims data for the past week will also influence market expectations for the Federal Reserve's monetary policy path.