U.S. equity futures climbed modestly ahead of Thursday trading session, bolstered by robust corporate earnings but tempered by ongoing anxiety over escalating trade tensions between Washington and Beijing.
As of 04:21 P.M. (GMT+7), Dow Jones futures increased by 140.20 points, or 0.30%, to 46,393.50 points, while S&P 500 futures added 21.40 points, up 0.32%, to 6,692.40 points. Nasdaq 100 futures also increased by 112.70 points, or 0.46% to 24,858.10 points.
Investors are on alert for heightened market swings as the trade dispute between the United States and China deepens. President Donald Trump on Wednesday declared the trade war an active battle, despite Treasury Secretary Scott Bessent’s indication that a suspension of tariffs might still be in play.
This divergence in official rhetoric comes after Trump’s renewed threats to impose stricter trade barriers in reaction to China’s newly-announced sanctions and export restrictions.
Despite these geopolitical headwinds, strong earnings from major Wall Street banks and optimism for additional Federal Reserve interest rate cuts in October and December have provided some support. Investors’ focus now shifts to earnings reports from Taiwan Semiconductor Manufacturing Company (TSMC) and Charles Schwab.
In after-hours developments, United Airlines shares retreated after the company issued revenue figures that fell short of investor expectations. In contrast, Salesforce shares advanced sharply after the cloud services provider guided for robust growth, citing acceleration in its artificial intelligence ventures.
Adding to the uncertainty, the ongoing U.S. government shutdown stretched into its third week, depriving the Federal Reserve and market participants of key economic indicators. The deadlock is widely anticipated to last until at least November.
Several U.S. tech stocks show signs of gaining after TSMC announced its third quarter performance. The company reported that its net profit has increased by 39.1% YoY to NTD 452.3 billion, while its revenue has added by 30.3% YoY to NTD 989.92 billion. Both figures have surpassed LSEG’s estimations.
In the pre-market, the share price of NVIDIA increased by USD 2.19, or 1.22%, to USD 182.02 per share, while Apple’s share price added by USD 0.74, or 0.30%, to USD 250.08 per share. As for Microsoft, its share price increased by USD 1.73, or 0.34% to USD 515.16 per share.
