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US stock futures marked time on Thursday as investors waited for further labor data and tariff-deal developments to relieve the uncertainty around the impact of President Trump’s trade push.
Dow Jones Industrial Average futures (YM=F) drifted just above the flat line after the blue-chip index snapped a four-day win streak on Wednesday. Contracts on the S&P 500 (ES=F) and on the tech-heavy Nasdaq 100 (NQ=F) were also little changed.
The mood is subdued as markets watch for fresh catalysts after this week’s stock rally lost steam on Wednesday. Downbeat data on private-sector hiring growth and the services sector have stoked concerns that the US economy is starting to feel negative effects from Trump’s sweeping tariffs.
CME – Delayed Quote USD
As of 8:13:03 AM EDT. Market Open.
ES=F YM=F NQ=F
Eyes are now on a weekly update on jobless claims and the Challenger job cuts report for May, as well as productivity and labor cost data. The readings will prepare the ground for Friday’s release of the closely watched May jobs report, which economists say will offer the “first real look at how the labor market is faring under a rapidly changing trade environment.”
Read more: The latest on Trump’s tariffs
Meanwhile, China’s curbs on rare-earth exports have emerged as a key front in the trade war. The US auto parts industry warned of “serious, real-time risks” as it called for immediate action, as Ford (F) and carmakers overseas put production of some models on pause.
On the corporate front, Lululemon (LULU) and Broadcom (AVGO) are due to report quarterly results on Thursday as earnings season winds to a close.
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Silver prices jump to highest level in 13 years
Silver surged to its highest level since February 2012, rising about 4% to above $36 an ounce on Thursday morning. Gold also rose 0.5% as demand for the metals remained strong.
Bloomberg reports:
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Bonds are ‘boring’ — but they’re critical to understand right now
As millions of people flooded into the stock market over the past few years, understanding of the things that move markets seems to have made noticeable progress.
Not, however, for bonds, notes Yahoo Finance’s Hamza Shaban:
Read more here in today’s Morning Brief.
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Good morning. Here’s what’s happening today.
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Tide maker Procter & Gamble is slashing 7,000 jobs
Procter & Gamble (PG) said Thursday it will cut 7,000 jobs — or around 6% of its global workforce — as it grapples with rising tariff-related costs and shifts in demand from penny-watching shoppers.
The consumer products giant’s two-year restructuring plan also calls for the dropping of certain product categories and brands, Reuters reported.
Shares in P&G were little changed in premarket trading as investors assessed the news from the world’s largest consumer goods company.
Yahoo Finance’s Brian Sozzi reports:
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Trending tickers: Tesla, PVH Corp, Robinhood and Broadcom
Here are some top stocks trending on Yahoo Finance in premarket trading:
Tesla (TSLA) stock fell over 1% in premarket trading on Thursday following CEO Elon Musk’s latest attack on President Trump’s tax bill. Musk said: “Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL,” Musk posted on X.
PVH Corp (PVH), the owner of designer brand Calvin Klein, stock dropped 8% before the bell after cutting its profit outlook for the year, citing weakness in the US, China and tariffs.
Zac Coughlin, Chief Financial Officer, said, “We are reaffirming our revenue guidance for the year but are decreasing our outlook for profitability and earnings per share to reflect that backdrop and the current performance of our business.”
Robinhood (HOOD) stock rose 1% following Bank of America (BAC) saying the online brokerage is a “prime candidate” to enter the S&P 500 Index in the rebalancing set to be announced Friday.
Broadcom (AVGO) stock rose 1.4% in premarket trading ahead of second-quarter earnings report, due for release later today.
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US optimism in domestic businesses tanks throughout first half of 2025
Optimism in the current state of the US economy and of US businesses has seen a rapid decline throughout 2025. After a sharp peak following President Trump’s reelection, hope for a stable economy has been in free fall, dropping 40% in less than six months.
Bloomberg reports:
Read more here.
