Dow futures are down triple digits ahead of the open
Wall Street is struggling for direction before the bell, with futures on the Dow Jones Industrial Average (DJI) down triple digits, while S&P 500 Index and Nasdaq-100 Index (NDX) futures inch into the black. U.S.-China trade tensions are weighing on sentiment, after Chinese foreign ministry spokesperson Guo Jiakun said that the two countries had not yet engaged in negotiations regarding tariffs, though China is open to it.
Meanwhile, initial jobless claims rose by 6,000 to a slightly higher than expected 222,000, while durable goods orders rose 9.2% in March -- the largest rise since July 2024.
Continue reading for more on today's market, including:
- Checking in with Celestica stock ahead of Friday earnings.
- Call traders targeted Vertiv stock's surge.
- Plus, stocks moving after earnings.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.9 million call contracts and over 1 million put contracts exchanged on Wednesday. The single-session equity put/call ratio came in at 0.54, while the 21-day moving average stayed at 0.60.
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Merck & Co Inc (NYSE:MRK) is up 1% premarket, after the company's better-than-expected first-quarter results. The pharmaceutical name also cut its profit outlook, however, expecting a $200 million dent from tariffs. Since the start of 2025, the equity is down 20.8%.
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American Airlines Group Inc (NASDAQ:AAL) just became the
latest airline to withdraw its 2025 outlook amid economic uncertainty. The company also announced a first-quarter earnings and revenue miss. AAL is flat before the bell, down 46.5% year to date.
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Hasbro Inc (NASDAQ:HAS) is up 7.5% in electronic trading, following strong first-quarter results. The toymaker kept its full-year forecast unchanged amid economic uncertainty. Should these gains hold, HAS will break into positive territory for the year.
- A flood of economic data is due out next week, along with earning from a few Big Tech names.
South Korea's GDP Contracts
Asian markets were mixed Thursday, with Wall Street’s gains and easing trade fears offering limited support. Japan’s Nikkei added 0.5%, boosted by strength in automakers, while China’s Shanghai Composite edged 0.03% higher. Hong Kong’s Hang Seng slipped 0.7%, and South Korea’s Kospi dipped 0.1% following weaker-than-expected gross domestic product (GDP) data, which showed a first-quarter contraction.
In Europe, stocks are modestly lower, taking a breather from the recent rally. France’s CAC 40 and Germany’s DAX are both down 0.3%, while London’s FTSE 100 is off 0.1%. Investors are digesting a fresh wave of corporate earnings across the region.