US stock futures crept higher on Thursday as investors braced for a busy day of earnings, with one eye on President Donald Trump’s fast-moving economic policy.
Dow Jones Industrial Average futures () rose 0.3%, while S&P 500 futures () edged up roughly 0.2%. Contracts on the tech-heavy Nasdaq 100 () hovered just above the flat line, on the heels of two winning days in a row for the major gauges.
The Trump tariff jitters that shook stocks earlier in the week may have eased, but markets are still eyeing incoming earnings for early warning of future fallout from the trade policy overhaul. At the same time, tech and chip-related results are being scrutinized for signals about the strength of AI demand.
Investors are now keenly awaiting Amazon (AMZN) results due after the bell, following Alphabet’s (GOOG, GOOGL) cloud sales flop. The report will test whether Big Tech plans to keep spending big in AI — a view that boosted Nvidia (NVDA) stock on Wednesday, buoying stocks more broadly.
Ford (FORD) shares slid in pre-market trading despite a quarterly earnings beat thanks to muted full-year guidance. The automaker pointed to tariffs as a headwind, saying they “would have a major impact on our industry.”
Meanwhile, concerns are growing that tariffs could dial up inflation, and Federal Reserve officials reasserted their “wait and see” approach to lowering interest rates amid the changes. Treasure Secretary Scott Bessant said on Tuesday he and Trump would focus on lowering 10-year Treasury yields rather than lowering interest rates.
In commodities gold (GC=F) hit record highs for the fifth day in a row. Demand for the asset is skyrocketing as banks and investors both seek stable ground against the backdrop of a mounting trade war. Futures are trading at $2885 per ounce, just shy of the $2905 high set earlier today.
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