U.S. stock futures held steady on Thursday, adopting a cautious stance after Wall Street faced a second consecutive day of losses, marking the first time this year that major stock indexes have experienced back-to-back declines.
Futures for the Dow Jones Industrial Average and the S&P 500 stayed unchanged, while there was a slight uptick of 0.2% in contracts for the Nasdaq 100, which is notable for having a larger share of tech stocks.
On Wednesday, tech stocks were at the forefront of the downturn, dragging major indexes lower. The S&P 500 fell by 0.5%, and the Nasdaq Composite Index closed down by 1%. Currently, all three major benchmarks are on a downward trajectory.
Nvidia, a significant player in the AI sector, saw its stock decline following reports of impending 25% tariffs on certain semiconductor imports—this happened even after the U.S. permitted chip exports to China. The legitimacy of these tariffs has come under scrutiny after the Supreme Court delayed its decision about the framework for such tariffs for two days.
As for what’s next, investors will be monitoring upcoming financial results from firms like Goldman Sachs, Morgan Stanley, and BlackRock, in addition to weekly reports on jobless claims.
Investor sentiment is still heavily swayed by geopolitical events. For instance, officials from the Trump administration met with leaders from Denmark and Greenland recently, as discussions continue about U.S. claims over Greenland. However, Danish representatives noted that no resolutions were reached regarding what they termed “fundamental differences” about ownership.
Additionally, markets are feeling jittery, particularly because of President Trump’s ongoing criticism of Federal Reserve Chairman Jerome Powell. This week, concerns about the Fed’s independence heightened after Powell confirmed that the Justice Department has initiated a criminal investigation into him.
