New York, NY: The stock market showed signs of stability early Thursday as S&P 500 futures remained flat following a recent rebound fueled by hopes for potential concessions on President Donald Trump’s tariffs. Futures linked to the broad market index and the Dow Jones Industrial Average showed little change, while Nasdaq 100 futures experienced a slight dip.
The stock market experienced volatility throughout the week. However, major U.S. indexes managed to stage a comeback on Wednesday after consecutive days of losses. Traders’ optimism was boosted by the White House’s announcement of a one-month delay on tariffs for automakers abiding by the United States-Mexico-Canada Agreement, raising expectations for further exemptions from Trump.
During regular trading, the Dow Jones Industrial Average surged by 485.60 points, equivalent to a 1.14% increase. The S&P 500 also saw gains of 1.12%, along with a 1.46% rise in the Nasdaq Composite. Despite these gains, all three indexes still showed a decline of more than 1% for the week.
Recent tariff implementations by Trump toward key U.S. trading partners like Mexico, Canada, and China have led to retaliatory measures by these countries, creating a sense of uncertainty and unease in the market. Traders are closely monitoring the situation as global markets continue to reflect these tensions.
Mark Hackett, a chief market strategist at Nationwide, commented on the market’s current state, attributing the pressure to a combination of growth challenges, inflationary pressures, and political uncertainty in Washington. This “three-headed monster” is contributing to the market’s sharp declines and the collapse of investor sentiment.
Looking ahead, traders are focusing on the upcoming release of weekly jobless claims and February’s influential payrolls report on Friday, anticipating potential impacts on the market. Additionally, several companies, including Macy’s, Broadcom, Costco Wholesale, and Hewlett Packard Enterprise, are expected to report quarterly results on Thursday, offering further insights into the market’s performance and potential future trends.
