US Stock Futures Rise on Earnings Expectations Amid Policy Developments
US stock futures edged higher on Thursday as investors anticipated a flurry of corporate earnings, including a closely watched report from Amazon (AMZN).
Market Movements:
* Dow Jones Industrial Average futures (YM=F) and S&P 500 futures (ES=F) gained around 0.2%.
* Nasdaq 100 futures (NQ=F) remained steady after two consecutive positive trading days.
Earnings Focus:
* Investors eagerly await Amazon's quarterly earnings release after the closing bell, following recent concerns about AI demand.
* Ford (F) shares declined despite exceeding earnings estimates due to muted full-year guidance and concerns about tariffs.
* Peloton (PTON) surged in pre-market trading after reporting strong sales driven by its partnership with Costco (COST).
* ConocoPhillips (COP) beat profit estimates as production increased.
Policy Considerations:
* Federal Reserve Vice Chair Richard Clarida's comments on slower rate increases boosted market sentiment.
* Treasury Secretary Steven Mnuchin's desire for lower Treasury yields is being seen as a potential constraint on the Fed.
* Tariff jitters have eased, but investors are monitoring earnings reports for any indications of corporate impact.
Economic Data:
* Jobless claims rose to 219,000 last week, exceeding estimates.
* Challenger job cuts declined by 22.3% year-over-year in January.
Other Notable Developments:
* Eli Lilly (LLY) reported mixed earnings, increasing its 2025 guidance.
* European stocks gained, with the FTSE 100 rising significantly after the Bank of England's rate cut.
* Oil prices rebounded after Saudi Arabia's oil company announced higher March prices.