US Stocks Pull Back Ahead of Bell on Waning AI Optimism
Market Overview:
US stock futures faltered on Thursday, retracting from record-setting attempts as artificial intelligence (AI) optimism waned and investors awaited details on President Donald Trump's tariff plans.
Indices:
* S&P 500 futures (ES=F): -0.2%
* Dow Jones Industrial Average futures (YM=F): Flat
* Nasdaq 100 futures (NQ=F): -0.5%
Key Movers:
* Nvidia (NVDA): Lower in pre-market trading
* Apple (AAPL): Lower
* Google parent Alphabet (GOOG, GOOGL): Lower
* Amazon (AMZN): Lower
* Tesla (TSLA): Lower
Tariff Concerns:
President Trump's proposed tariffs on major trading partners remain a concern for investors, raising inflation and stock risks. Investors await further clarity from his speech at the World Economic Forum in Davos.
Earnings Bright Spot:
Netflix (NFLX) exceeded Wall Street expectations, providing a bright spot for markets.
Other News:
* GE Aerospace (GE) shares rose on strong profit and increased buybacks and dividend plans.
* Earnings reports from American Airlines (AAL) and Texas Instruments (TXN) are expected on Thursday.
* Initial jobless claims data will provide insights into the Federal Reserve's rate hike path.