US Stock Futures Hover Amid Earnings Rush and Trump's Policy Overhaul
Thursday's US stock futures remained stagnant as investors evaluated the earnings season and awaited President Donald Trump's policy updates.
Market Outlook:
* Dow Jones Industrial Average futures (YM=F) and S&P 500 futures (ES=F) held steady.
* Nasdaq 100 futures (NQ=F) slipped 0.1% after two consecutive gains.
Earnings Season and Tariffs:
* Tariffs that initially rattled stocks early in the week have subsided, but investors remain cautious for potential warnings in upcoming earnings reports.
* Tech and chip-related results are scrutinized for insights into AI demand.
* Amazon's (AMZN) quarterly report is highly anticipated post-Alphabet's (GOOG, GOOGL) lackluster cloud sales.
* Ford (F) shares declined despite exceeding earnings expectations, due to muted full-year guidance citing tariffs as a hindrance.
Trump's Influence:
* Treasury Secretary Scott Bessent indicated Trump's focus on lower Treasury yields to reduce borrowing costs, rather than pressing the Federal Reserve for rate cuts.
* Trump's tariffs may potentially increase inflation, but the Fed adopts a "wait and see" approach before adjusting policy.
* Jobless claims data released later today will provide insights into the labor market, a crucial factor in Fed decision-making.
Notable Earnings Releases:
* Amazon (AMZN)
* Eli Lilly (LLY)
* Peloton (PTON)
* ConocoPhillips (COP)
* Hershey (HSY)
* Pinterest (PINS)
* Philip Morris International (PM)
* Roblox (RBLX)
* Tapestry (TPR)
* Yum! Brands (YUM)