U.S. futures edged lower Thursday morning after the S&P 500 Index (SPX) reached a new all-time high for the second consecutive day. Meanwhile, futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 were down 0.32%, 0.19%, and 0.25%, respectively, at 3:39 a.m. EST, February 20.
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In Wednesday’s regular session, all three major indices closed in the positive territory. The Nasdaq Composite (NDAQ), the S&P 500, and the Dow Jones gained 0.07%, 0.24%, and 0.16%, respectively.
Importantly, investors digested the minutes from the Federal Reserve’s January meeting, released yesterday. The minutes reiterated the central bank’s focus on curbing inflation before cutting interest rates.
In major stock market news, Hims & Hers Health (HIMS) gained 17.5% on plans to introduce at-home lab testing through its platform. In contrast, Bumble (BMBL) stock declined 30% on mixed Q4 results and weak revenue guidance. Also, Palantir (PLTR) was down 10% on news that CEO Alex Karp is looking to sell the company’s shares and the U.S. government’s plans to cut down the defense budget.
Looking ahead, key economic data releases include the Weekly Jobless Claims report. Further, several major companies, such as Walmart (WMT), Alibaba (BABA), Unity (U), Rivian (RIVN), Booking Holdings (BKNG), and Newmont Mining (NEM) are scheduled to release earnings today.
Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.521%. Simultaneously, WTI crude oil futures are trending lower, hovering near $71.95 per barrel as of the last check.
Elsewhere, European indices opened mixed on Thursday as investors evaluated several earnings reports and kept a close eye on developments in the ongoing trade war and the situation in Ukraine.
Asia-Pacific Markets Traded Lower on Thursday
Most of the Asia-Pacific indices were in the red today as investors assessed the impact of U.S. President Donald Trump’s proposed tariffs on automobile, semiconductor, and pharmaceutical imports.
At the same time, Hong Kong’s Hang Seng Index was down 1.6%. Also, Japan’s Nikkei and Topix indices declined 1.24% and 1.18%, respectively. Further, China’s Shanghai Composite index fell 0.023%, while the Shenzhen Component index was up 0.02%.
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