US Markets Update: US stocks showed slight gains before the market opened on Thursday, as ongoing concerns about major technology companies continued to impact trading. Hopes for a shift in President Trump’s aggressive tariff policies were also bolstered by a recent hearing at the Supreme Court.
Futures for the S&P 500 and the Nasdaq 100 both increased by approximately 0.2%. Meanwhile, Dow Jones Industrial Average futures remained relatively stable, following a resurgence in stock prices earlier in the week, which was aided by unexpected job growth.
The market’s recovery was significantly supported by a rebound in shares tied to artificial intelligence. However, investor anxiety regarding a potential bubble in Big Tech persists, largely due to ongoing high levels of AI expenditure.
Market participants are weighing mixed indicators concerning tech valuations. Although chipmaker Qualcomm reported strong earnings and provided positive guidance, its stock fell nearly 3% in premarket trading. Conversely, shares of Arm jumped 6% after the chip designer attributed its revenue forecasts to robust AI demand.
Investors are particularly focused on the scheduled Tesla shareholder meeting at 4 p.m. ET, where CEO Elon Musk’s proposed $1 trillion pay package is set to be voted on. A rejection could lead to concerns over Musk potentially stepping down, while the outcomes may offer insights into the ongoing performance of leading tech companies this year.
Additionally, market attention is directed towards skepticism among Supreme Court justices regarding the legality of President Trump’s expansive trade tariffs, which Treasury Secretary Scott Bessent remains optimistic about despite possible repercussions on international trade and domestic spending.
In other news, Wall Street is calculating the implications of the FAA’s recent decision to reduce flights by 10% at 40 airports amid a protracted federal shutdown and staffing shortages. This decision adds to existing travel disruptions and delays.
