US stock futures pulled back on Thursday as investors scrutinized Walmart (WMT) earnings and trod carefully amid the fallout from President Trump’s planned tariffs and policy shifts.
S&P 500 futures (ES=F) dropped 0.3% after the benchmark closed at a record high for the second day in a row on Wednesday. Contracts on the Dow Jones Industrial Average futures (YM=F) and on the tech-heavy Nasdaq 100 (NQ=F) also backed off about 0.3%.
Worries grew about coming headwinds for corporate America after Walmart put out a downbeat 2025 outlook. While the retail giant’s profit and revenue met high expectations, its shares slid in premarket.
CME – Delayed Quote • USD
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One looming challenge is Trump’s tariffs, which have prompted the likes of General Motors (GM) to consider big changes to their business. The latest in his policy overhaul is a planned 8% cut in military spending, which dragged on Palantir’s (PLTR) stock.
Markets were already warily waiting for Trump’s next move, after a clash with Ukraine’s president put geopolitical fears front of mind. Gold (GC=F) hit a fresh record high as investors lost appetite for risk.
Meanwhile, the Federal Reserve’s caution in light of White House policy dragged on the mood, as investors lost faith in the prospects for interest rate cuts.
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Carvana stock slides after run-up, despite earnings beat
Online car retailer Carvana (CVNA) posted stronger-than-expected revenue and profit on Wednesday as it continues to emerge from a period of turbulence.
Despite the earnings beat, investors hit the brakes on the stock. Carvana shares fell over 8% in premarket trading on Thursday, having recently hit a fresh 52-week high.
Yahoo Finance’s Pras Subramanian reports:
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Walmart stock sinks amid cautious 2025 outlook
Walmart (WMT) was the highlight of Thursday’s earnings docket, as the retailer beat on earnings and showed it continued to be a destination for inflation-weary shoppers.
But its stock was down some 8% in premarket trading as it guided cautiously for the upcoming year.
Yahoo Finance’s Brooke DiPalma reports:
Read more here.
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Good morning. Here’s what’s happening today.
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Alibaba stock jumps as earnings show signs of comeback
Alibaba shares surged almost 7% in premarket trading after the Chinese online retailer posted better-than-expected quarterly revenue.
Bloomberg reports:
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Gold hits fresh record high as investors seek shelter
Worries about geopolitics grew after President Trump called his Ukrainian counterpart a “dictator,” driving a rush to gold and other less-risky assets on Thursday.
Bloomberg reports:
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Morgan Stanley reverses views on Chinese bear market
Morgan Stanley (MS) strategists have adopted an optimistic outlook on Chinese stocks, overturning a previously bearish view of the region. This is the latest in a wave of Wall Street support forecasting a rise driven by tech advancements in the country, specifically around AI.
Bloomberg reports:
Read more here.
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