U.S. futures traded higher on Thursday morning, following two consecutive days of gains for major stock indices. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.27%, 0.22%, and 0.24%, respectively, at 3:26 a.m. EST, February 6.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
The Dow Jones surged 0.71% on Wednesday, which reflects its best performance in nearly two weeks. The S&P 500 and the Nasdaq Composite (NDAQ) also climbed higher by 0.39% and 0.19%, respectively. Nvidia (NVDA) led the rally, with its shares surging 5.2% as artificial intelligence stocks recovered from recent losses.
Importantly, investor concerns over potential trade tariffs eased as both the U.S. and its trading partners adopted a more cautious approach. Moreover, strong economic data and positive earnings reports aided the positive market sentiment.
In major after-market action, semiconductor firms Qualcomm (QCOM) and Arm Holdings (ARM) declined 4.6% and 6.3%, respectively, despite reporting upbeat quarterly results. Also, Ford Motor (F) dropped 4.5% after the company said it expects a loss between $5 billion and $5.5 billion from its EV unit in 2025.
Looking ahead, investors are awaiting the release of Initial Jobless Claims data for the week ending February 1 for insights into the health of the labor market. Also, the U.S. productivity report for the fourth quarter of 2024 will be made public today.
On the corporate front, earnings reports from one of the Magnificent Seven companies, Amazon (AMZN), will take center stage today. Also, Eli Lilly (LLY), Roblox (RBLX), Philip Morris (PM), Pinterest (PINS), Cloudflare (NET), ConocoPhillips (COP), and Peloton Interactive (PTON) will release their quarterly numbers today.
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.436% as of writing. Simultaneously, WTI crude oil futures are trending higher, hovering near $71.20 per barrel as of the last check.
Elsewhere, European indices opened higher on Thursday as global stocks recovered from recent sell-offs caused by the rise of China’s AI startup DeepSeek and U.S. President Donald Trump’s tariffs. Also, investors await the Bank of England’s monetary policy decision.
Asia-Pacific Markets Ended Higher on Thursday
Asia-Pacific indices were in the green today after concerns over a global trade war eased, with the U.S. and China adopting more moderate tariff measures.
Notably, the Hang Seng Index closed higher by 1.3%. Further, China’s Shanghai Composite and Shenzhen Component indices gained 1.27% and 2.26%, respectively. Also, Japan’s Topix and Nikkei indices climbed 0.25% and 0.61%, respectively.
Interested in more economic insights? Tune in to our LIVE webinar.
