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U.S. stock index futures showed a mixed performance Thursday, with the tech sector staging a recovery after Wednesday’s heavy losses, as optimism grew over potential trade deals between the U.S. and its key global partners.
As of 06:00 ET (10:00 GMT):
- Dow Jones Futures declined 70 points, or 0.2%
- S&P 500 Futures gained 40 points, or 0.8%
- Nasdaq 100 Futures rose 195 points, or 1.2%
The rebound comes after all major U.S. indices closed sharply lower on Wednesday, dragged down by a selloff in tech stocks, particularly following Nvidia’s disclosure of a large quarterly charge related to new U.S. export controls.
The Nasdaq Composite has now fallen nearly 19% from its record closing high, moving closer to bear market territory.
Trade Talks Spark Optimism
Market sentiment improved heading into the Good Friday holiday, amid encouraging signs that tariff tensions may ease:
- President Donald Trump said “big progress” had been made in talks with Japan, which marks the first major trading partner to formally engage the U.S. over tariffs.
- The European Commission, led by Ursula von der Leyen, has expressed a willingness to negotiate.
- Bloomberg reported that China may also be open to fresh trade talks—on the condition that the White House reduces its rhetoric and shows more respect toward Chinese leadership.
These developments have raised hopes that a full-scale trade war could be averted, supporting risk assets like equities.
Powell Holds Line on Rates Amid Tariff Impact
Despite improving sentiment, the market is also grappling with a hawkish tone from Federal Reserve Chair Jerome Powell, who said the central bank remains reluctant to cut interest rates in the near term.
Speaking at the Economic Club of Chicago, Powell emphasized the Fed’s priority to:
- Keep long-term inflation expectations well anchored
- Prevent temporary price shocks from becoming embedded
The Fed’s stance reflects concern that tariffs may further inflate consumer prices while simultaneously weighing on growth.
Data released Wednesday showed U.S. retail sales surged 1.4% in March, as consumers brought forward purchases—especially of vehicles—ahead of expected price increases tied to tariffs.
Key Economic Data and Earnings on Tap
Investors are also awaiting a busy data slate, which includes:
- Philadelphia Fed Manufacturing Survey (April)
- Weekly jobless claims
- Housing starts and building permits
On the earnings front, the spotlight turns to several financial and tech-related companies, including:
- American Express (NYSE:AXP)
- Blackstone (NYSE:BX)
- Truist Financial (NYSE:TFC)
These reports follow a strong showing from major U.S. banks earlier in the week.
Meanwhile, Taiwan Semiconductor Manufacturing (NYSE:TSM) posted a 60% surge in Q1 net profit, and forecast robust demand in the next quarter—particularly for AI chips, helping to support sentiment across the chip sector.
Oil Heads for Weekly Gains as Sanctions Drive Supply Risk
Crude prices continued to climb Thursday, supported by concerns over potential supply disruptions following fresh U.S. sanctions on Iran’s oil exports.
At 06:00 ET:
- Brent crude rose 0.9% to $66.43 a barrel
- West Texas Intermediate (WTI) gained 1.1% to $63.15 a barrel
Prices have now posted their highest levels in two weeks, positioning both benchmarks for their first weekly gain in three weeks.
The latest sanctions, announced by the Trump administration, target Chinese firms and shipping vessels connected to Iran’s oil exports, including a refinery in Shandong province.
Market Outlook
Despite Powell’s hawkish tone, the recovery in tech, combined with constructive trade developments, has buoyed sentiment heading into the Easter break. However, markets remain highly sensitive to both central bank signals and trade headlines, suggesting that volatility may persist in the near term.
With economic data and earnings due throughout the day, investors will be closely watching for signs of resilience—or further risk—from both consumers and corporations as they navigate a complex global trade and monetary policy environment.
