Stocks Stall After Three-Day Rally

US and European stocks paused their ascent on Thursday, halting a three-day rally that had brought them close to record highs.

Market Drivers:

* Positive Sentiment: Artificial intelligence optimism and strong earnings from major corporations had fueled the rally.
* Tariff Concerns: Despite President Trump's first days in office, uncertainty over potential tariffs on major trading partners remained a drag on sentiment.
* Valuations: High valuations, particularly among tech giants, raised concerns about overheating.

Key Market Movements:

US Equities:

* S&P 500 futures dipped 0.2%.
* Nasdaq 100 futures declined 0.5%.

European Equities:

* Stoxx Europe 600 technology shares tumbled over 1%, erasing most of Wednesday's gains.

Commodities:

* West Texas Intermediate crude gained 0.4% to $75.73 a barrel.
* Spot gold dipped 0.3% to $2,747.02 an ounce.

Currencies:

* The Bloomberg Dollar Spot Index rose 0.1%.
* The euro lost 0.1% to $1.0395.
* The British pound weakened 0.1% to $1.2301.

Upcoming Events:

* Eurozone consumer confidence (Thursday)
* US jobless claims (Thursday)
* Bank of Japan policy meeting (Friday)
* Eurozone manufacturing and services PMI (Friday)
* US University of Michigan consumer sentiment and S&P Global manufacturing and services PMI (Friday)