US Stocks Retreat Ahead of Davos, Tech Loses Momentum
US equity futures declined on Thursday before markets opened, retreating from recent record highs.
Reasons for Pullback:
* Waning optimism about artificial intelligence (AI)
* Uncertainty regarding President Trump's tariff plans
Dow Jones and S&P 500:
* Dow Jones Industrial Average futures traded flat.
* S&P 500 futures lost approximately 0.2% after a three-day rally.
Nasdaq 100:
* Nasdaq 100 futures fell 0.5% as technology stocks struggled.
* NVIDIA, Apple, and Alphabet saw pre-market losses.
Key Economic Events:
* Initial jobless claims increased to 223,000 for the week ending January 18.
Earnings Reports:
* GE Aerospace reported strong full-year earnings and announced share buyback and dividend increases.
* American Airlines witnessed a stock decline due to a lower profit forecast for 2025.
* Other earnings reports include Alaska Airlines, Texas Instruments, and Union Pacific Corporation.
Other Market News:
* Amazon and Tesla shares dropped after announcing business shifts in Canada, a potential target for tariffs.
* Eyes remain on President Trump's Davos speech for further insight on trade policy.
* Yahoo Finance is reporting live from Davos.
Company Mentions:
* Amazon (AMZN)
* Tesla (TSLA)
* Nvidia (NVDA)
* Apple (AAPL)
* Alphabet (GOOG)
* Netflix (NFLX)
* GE Aerospace (GE)
* American Airlines (AAL)
* Texas Instruments (TXN)
* Alaska Airlines (ALK)