U.S. stock futures were down ahead of Thursday’s session after all major indexes closed higher on Wednesday. Market sentiment turned cautious following President Donald Trump’s announcement of a 50% tariff on Brazil, sparking fresh trade concerns. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.26%, 0.28%, and 0.24%, respectively, at 1:04 a.m. EDT on July 10.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
On Wednesday, the Nasdaq Composite surged 0.94% to close at a record high. Also, the Dow Jones and the S&P 500 gained 0.49% and 0.61% respectively. The rally was largely fueled by continued investor optimism for artificial intelligence (AI).
Technology stocks led Wednesday’s rally, fueled by ongoing AI enthusiasm. Nvidia (NVDA) made headlines by becoming the first company to reach a $4 trillion market cap.
Looking ahead, investors are awaiting the release of Weekly Jobless Claims data for the week ended July 5, due Thursday morning. Currently, economists project a slight increase of 2,000 claims to a total of 235,000.