Trump announces significant AI investment

Kaityn Mills
3 Min Read
Trump announces significant AI investment

Stock futures remained relatively unchanged early Thursday, with Wall Street on the cusp of new record highs. Futures for major indexes showed slight movements, with S&P 500 futures slipping around 0.2%, Dow Jones Industrial Average futures ticking down 5 points (or less than 0.1%), and Nasdaq 100 futures losing about 0.6%. The calm in futures follows a Wednesday trading session where the S&P 500 set an intraday record high, finishing the day up 0.61%, marking its third consecutive winning session.

The Dow and Nasdaq also rose on Wednesday, gaining 1.28% and 0.30%, respectively, putting them within reach of new highs. The stock market is receiving a boost from optimism surrounding potential tax cuts and deregulation under President Donald Trump, along with signs of robust economic growth. The fourth-quarter earnings season has started strong, with notable performances on Wednesday.

Reports from several key companies are expected before the market opens on Thursday. “Forward earnings estimates continue to make new highs. There’s been a lot of discussion about the elections, and then post-elections and the Fed, and is the economy growing too fast or too slow.

One thing that’s been remarkably resilient is forward earnings estimates, and we’re off to a good start as well,” Keith Lerner, co-CIO and chief market strategist at Truist, commented. Investors will also receive updated economic data on Thursday.

Stock futures show steady movements

Initial jobless claims are expected before the opening bell, followed by Kansas City Fed manufacturing data later in the day. Earnings reports were driving notable after-hours stock moves on Wednesday. Knight-Swift shares rose more than 5% after their fourth-quarter results showed improved operating margins.

The transport company reported an adjusted 36 cents earnings per share, surpassing the 33 cents expected by analysts. Alaska Air stock climbed 3% following better-than-expected fourth-quarter results, reporting positive net income of $71 million for the quarter, a significant turnaround from a loss a year ago. Conversely, Electronic Arts saw a notable decline after revising its guidance downwards for the recent quarter and the full fiscal year ending March 31.

The video game publisher cited weakness in its Global Football franchise as the reason for the revision. Shares dropped more than 10% in extended trading. As of 6 p.m. in New York, stock futures largely held steady.

Nasdaq 100 futures were down about 0.1%, while futures for the S&P 500 and Dow were near the flatline. Investors remain watchful as further data and earnings reports continue to shape the market outlook.

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Kaitlyn covers all things investing. She especially covers rising stocks, investment ideas, and where big investors are putting their money. Born and raised in San Diego, California.