U.S. Stocks Pause Before Bell, Awaiting Trump's Davos Speech on Tariffs
U.S. stock futures retreated slightly before the opening bell on Thursday, retreating from recent highs amid concerns over the potential impact of President Donald Trump's proposed tariffs on key trading partners.
* S&P 500 futures (ES=F) dipped 0.2%, eroding a three-day rally that saw the benchmark index approach an all-time high on Wednesday.
* Dow Jones Industrial Average futures (YM=F) remained largely flat, still within reach of a record.
* Nasdaq 100 futures (NQ=F) fell 0.5%, with technology stocks losing momentum after leading gains the previous day.
Investors continue to assess the potential economic impact of Trump's proposed tariffs, which have raised concerns about inflation and volatility in the stock market. The focus now shifts to Trump's speech at the World Economic Forum in Davos later Thursday, where he is expected to provide more details on his trade policies.
Shares of Amazon (AMZN) and Tesla (TSLA) declined slightly after the companies announced business adjustments in Canada, a major target of Trump's tariffs. Additionally, jobless claims in the U.S. rose by 6,000 to 223,000, according to government data released Thursday.
Earnings reports from several companies, including GE Aerospace (GE), American Airlines (AAL), and Texas Instruments (TXN), are expected to provide market insights.