U.S. stock futures displayed a mixed pattern Thursday, as market participants sorted through extensive earnings releases, negotiation updates on shipping through the Strait of Hormuz, and new indicators of U.S. labor market conditions. The Dow Jones Industrial Average ended regular trading at a record high, marking a fifth consecutive advance.
At 4:32 (Bangkok Time), contracts for the Dow advanced by 176 points, or 0.32%. S&P 500 futures registered a 0.14% uptick, but Nasdaq 100 futures declined by 0.45%. The previous session saw the Dow gain 263.24 points, or 0.49%, while the S&P 500 slipped 0.17%, ending its four-day winning streak. The Nasdaq Composite also declined by 0.83%.
Market sentiment remains heavily influenced by concerns over capital spending and revenue generation for artificial intelligence firms. Elevated valuations among specific technology companies have amplified volatile earnings reactions, especially for names such as Advanced Micro Devices, Sandisk, and Western Digital.
Ongoing geopolitical tensions continue to support higher gold prices, pushing the metal to the highest levels seen in several weeks. Crude oil steadied just below $80 a barrel on Thursday, following news from Iran regarding a preliminary accord with Oman to permit a temporary shipping lane through the Strait of Hormuz. According to a statement from Iran’s Foreign Ministry, progress toward a final agreement depends on the absence of external interference.
Inflationary pressures remain central for Federal Reserve policymakers. On Wednesday, Fed Governor Lisa Cook signaled readiness to raise interest rates if the trend toward lower inflation stalls.
Looking ahead, the market anticipates another wave of earnings announcements. Warner Bros. Discovery is scheduled to report before the opening bell, with Airbnb and Lyft to follow after market close.
Separately, the finalization of the initial share lockup period for SpaceX will see more than 900 million shares become available for sale, offering early stakeholders an opportunity to exit positions, an event that could affect pricing.
Labor market data remains in focus, with the Challenger, Gray & Christmas layoff report and initial jobless claims expected Thursday. These releases come ahead of the U.S. July employment report scheduled for Friday.
