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US stocks faltered on Thursday, pulling back from a bid for fresh records as AI optimism waned and markets waited for more detail on President Donald Trump’s tariff plans.
The S&P 500 (^GSPC) was little changed, coming off a three-day win streak that saw the benchmark index close Wednesday on the cusp of setting a new all-time high. The Dow Jones Industrial Average (^DJI) traded 0.2% higher, with a record high not far off.
Meanwhile, The Nasdaq Composite (^IXIC) fell 0.4% as tech stocks struggled to regain the momentum that propelled the previous day’s gains. Nvidia (NVDA) shares dropped, as fellow megacap techs Apple (AAPL) and Google-parent Alphabet (GOOG, GOOGL) also lost ground.
Investors are still digesting Trump’s early-days policy charge, which brought an AI push that invigorated tech names but left unclear when the outlined tariffs on big trading partners — a risk for inflation and stocks — might hit. The focus is now on Trump’s speech at the World Economic Forum in Davos later Thursday for more insight into his trade policy.
Yahoo Finance is on the ground at Davos. See the latest from the world’s business leaders here.
Shares in Amazon (AMZN) and Tesla (TSLA) edged lower after business shifts by the tech leaders in Canada, a prime tariff target for Trump. The e-commerce giant will close its warehouses in Quebec, with a loss of about 1,700 jobs, while Tesla plans hefty price hikes on all its EV models sold in Canada.
Eyes are on earnings to potentially buoy markets, after Netflix (NFLX) set that tone on Wednesday. GE Aerospace (GE) shares popped after the jet engine maker said it will raise share buybacks to $7 billion. In air carriers, American Airlines (AAL) stock slid after a downbeat 2025 profit forecast, and Alaska Airlines (ALK) shares rose thanks to a smaller-than-expected first quarter loss forecast.
On the data front, US jobless claims increased by 6,000 to 223,000, official figures released on Thursday showed. Economists had expected a reading of 220,000 for the week.
LIVE 6 updates
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Chip stocks fall as Nvidia supplier highlights market uncertainty
Yahoo Finance’s Laura Bratton reports:
Chip stocks fell across the board early Thursday after a Nvidia (NVDA) supplier made comments on its earnings call that indicated uncertainty in semiconductor demand this year.
South Korea-based SK Hynix (000660.KS) makes memory chips used in Nvidia’s GPUs (graphics processing units) — chips used in data centers to power artificial intelligence software. After reporting fourth quarter earnings that surpassed analysts’ expectations, SK Hynix head of finance Woo-Hyun Kim remarked on the year ahead in a post earnings call: “2025’s memory demand outlook is clouded by inventory adjustments from PC and smartphone OEMs [original equipment manufacturers] as well as strengthened protective trade policies and geopolitical risks.”
Following the comments, Nvidia sank as much as 2%. British chip designer Arm (ARM) dropped nearly 6%, and SK Hynix rival Micron (MU) fell nearly 4%.
Read more here:
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Is AI out of control? HPE CEO says it’s up in the air
Yahoo Finance’s Brian Sozzi reports:
Up and down the promenade at the World Economic Forum this week, leaders agree on one thing about artificial intelligence.
It’s darn powerful and is starting to materially impact how business is done and will be done — think AI on the cusp of rendering human call centers and HR departments obsolete.
What leaders can’t agree on is if AI is already out of control and beyond the point of being successfully regulated or having the proper guardrails.
“I’m not sure it’s [AI] out of control. I think there are use cases that sometimes people want to showcase either in their own benefits, to see, hey, this is the potential. But the reality is that enterprises are very smart,” HPE CEO Antonio Neri told Yahoo Finance at the annual gathering of top business leaders.
Read more here.
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American Airlines tumbles 8% on surprise quarterly loss forecast
American Airlines (AAL) stock tumbled nearly 8% after the carrier forecast a surprise loss for its first quarter. The outlook is a departure from its the major air travel carriers’ bullish performance in recent quarters.
American Airlines expects an adjusted loss of as much as $0.40 cents a share for this current quarter. Analyst were expecting a profit of at least $0.01, according to estimates compiled by Bloomberg.
The company posted record fourth-quarter revenue of $13.7 billion and record full-year revenue of $54.2 billion.
The company’s profit for the current quarter is expected to be impacted by a rise in non-fuel expenses, and as it continues to win back business after changing its corporate sales strategy. The airline had implemented changes which pushed corporate customers to book directly with the airline, instead of third-party travel managers.
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Electronic Arts tumbles after cut to bookings outlook
Electronic Arts (EA) stock tumbled 15% on Thursday after the games publisher said quarterly bookings fell to roughly $2.22 billion, missing analyst expectations.
The decline was due to poor performance of two of its video games: soccer title EA Sports FC 2025 and Dragon Age: The Veilguard. Both of those missed bookings expectations.
The company cut its bookings outlook for the 2025 fiscal year to a range of $7 billion to $7.15 billion.
EA is expected to release its complete results on Feb. 4.
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S&P 500, Nasdaq waver as tech struggles
US stocks were mixed on Thursday, pulling back from near record levels as the markets awaited a speech from President Trump at the World Economic Forum.
The S&P 500 (^GSPC) slipped roughly 0.2%, coming off a record intraday high on Wednesday, while the Dow Jones Industrial Average (^DJI) was little changed.
Meanwhile, the Nasdaq Composite (^IXIC) fell 0.5% as tech stocks struggled. Nvidia (NVDA) shares slipped, along with those of Apple (AAPL) and Google parent Alphabet (GOOG, GOOGL).
Investors are still awaiting new developments on the tariff front, with Trump is expected to remotely give an address to the WEF in Davos later in the day.
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Good morning. Here’s what’s happening today.
Economic data: Initial jobless claims (week ended Jan. 18); Kansas City Fed. Manufacturing Activity (January)
Earnings: American Airlines (AAL), Alaska Airlines (ALK), CSX Corporation (CSX), Freeport-McMoRan (FCX), GE Aerospace (GE), Intuitive Surgical (ISRG), Texas Instruments (TXN), Union Pacific Corporation (UNP)
Here are some of the biggest stories you may have missed overnight and early this morning:
Trump’s new crypto token is the industry in its purest form
Why Trump is laser-focused on tariffs for Canada
Intel races to find next CEO before it sinks into irrelevance
Amazon to cut 1,700 jobs, close warehouses in Quebec
GE Aerospace posts earnings beat, plans $7B buyback
American Air stock drops as 2025 profit forecast falls short
![i’m-nervous,-too!-[part-2]](https://10xwealthreport.com/wp-content/uploads/2026/03/177042-im-nervous-too-part-2-1568x784.jpg)
