
U.S. stock futures took a breather on Thursday morning, pointing to the possibility of some profit booking after witnessing a massive rally following President Donald Trump’s tariff pause for 90 days.
The Dow Jones futures were down 1.10% at the time of writing, the S&P 500 futures declined 1.50%, and the Nasdaq 100 futures dipped 1.80%. Futures of the Russell 2000 index declined by nearly 2.42%.
Asian markets mirrored Wall Street’s enthusiasm on Thursday, with the TWSE Capitalization Weighted Stock Index and Nikkei 225 indices gaining over 8% each. South Korea’s KOSPI gained 6.2%, followed by Hang Seng, with gains of 2%, while China’s Shanghai Composite gained 1.1%.
U.S. equities witnessed a highly volatile day of trading on Wednesday, with the major indices see-sawing before skyrocketing at the end due to Trump announcing a pause in tariffs.
The Dow Jones closed 7.9% higher, with gains of 2,963 points. The S&P 500 closed 9.5% higher, while the tech-heavy Nasdaq 100 gained more than 12%.
Meanwhile, the SPDR S&P 500 ETF Trust (SPY) was down 2.6% on Thursday morning, while Invesco QQQ Trust (QQQ) fell 2.1%.
Bitcoin (BTC) skyrocketed, too, gaining more than 7.5% in the past 24 hours.
Long-Term Gains On The Horizon
Carson Group’s chief market strategist, Ryan Detrick, posted an analysis of past data and noted that on 23 occasions, the S&P 500 has posted single-day returns of at least 5%.
The index posted weak returns on the next day and the week following those gains.
The S&P 500 index has been up 26.9% on average over the next year and higher on 91% of the occasions.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.