US Stock Futures Slip Despite Record Highs for S&P 500
Market Overview
U.S. stock futures declined Thursday following a two-day record surge for the S&P 500 index (^GSPC).
* S&P 500 (ES=F) futures: -0.3%
* Nasdaq 100 (NQ=F) futures: -0.4%
* Dow Jones Industrial Average (YM=F) futures: -0.2%
Central Bank Policy
The Federal Reserve's January meeting minutes indicated support for pausing interest rate cuts. Officials cited concerns about inflation due to President Trump's tariffs and mass deportations.
Tariffs Impact
Trump's tariffs continue to disrupt global trade. General Motors (GM) has announced consideration of relocating plants in response to potential auto tariffs.
Defense Cuts
Defense Secretary Pete Hegseth announced an 8% cut in military spending over the next five years. This impacted Palantir (PLTR), a military AI firm whose stock dropped 10% on the news.
Earnings Season
Walmart (WMT) is expected to release earnings that exceed Wall Street estimates.
Gold Surge
Gold prices reached a new record high as geopolitical concerns intensified. President Trump's comments about the Ukrainian president prompted a rush to safe-haven assets.
Morgan Stanley's Optimism
Morgan Stanley (MS) has reversed its bearish outlook on Chinese stocks, citing tech advancements in the country.