U.S. stock futures dipped early Thursday, taking a break after a significant two-day rally in the major averages. The previous gains were driven by easing concerns about the U.S.-China trade relationship and the Federal Reserve’s independence. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.74%, 0.63%, and 0.51%, respectively, at 4:30 a.m. EST, April 24.
In Wednesday’s regular trading session, the Dow Jones, the S&P 500, and the Nasdaq Composite (NDAQ) rose by 1.1%, 1.7%, and 2.5%, respectively.
Market sentiment improved after President Trump hinted at a potential easing of tariffs on Chinese goods, suggesting the 145% level might not be permanent. Also, his reassurance that Federal Reserve Chair Powell’s position was secure helped ease investor fears.
Overall, all three major indexes are set for weekly gains, with the Nasdaq up 2.6%, the S&P 500 rising 1.8%, and the Dow gaining 1.2%.
In major after-hours action, IBM (IBM) shares were down about 7% despite reporting better-than-expected Q1 results. Also, Southwest Airlines’ (LUV) stock fell 2.4% after the company announced plans to reduce its flight schedule in the latter half of the year and withdrew its profit guidance for 2025 and 2026. Further, Chipotle (SMG) stock was down 2.1% after it missed Q1 revenue estimates and cut its full-year growth outlook.
Looking ahead, investors will be watching earnings reports from major companies such as Alphabet (GOOGL), Intel (INTC), American Airlines (AAL), Fiserv (FI), Procter & Gamble (PG), Merck (MRK), L3Harris (LHX), T-Mobile US (TMUS), and PepsiCo (PEP), due today.
On the economic data front, Durable Goods Orders and Weekly Jobless Claims reports are scheduled for release today.
Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.365%. Simultaneously, WTI crude oil futures are trending higher, hovering near $62.87 per barrel as of the last check.
Also, Gold futures rose on Thursday, as uncertainty over easing U.S.-China trade tensions weighed on market sentiment.
Elsewhere, European indices opened lower on Thursday as the recent relief rally lost steam amid ongoing trade worries.
Asia-Pacific Markets Traded Mixed on Thursday
Asia-Pacific indices were mixed today, as trade uncertainty persisted. China stated today that there are no active discussions with the U.S. regarding tariffs, despite recent signals from the White House about potential easing of trade tensions.
At the same time, the Hong Kong index was down 0.89%. Further, China’s Shenzhen Component index declined 0.58%, while the Shanghai Composite index was up 0.03%. Also, Japan’s Topix and Nikkei indices closed higher by 0.32% and 0.49%, respectively.
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